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COVID-19 (Coronavirus) and Your Credit Score

Coronavirus
The outbreak of COVID-19 (Coronavirus) and the personal and economic effects it is having on individuals is extreme. No one is not facing issues by this major disruption. The three credit bureaus have created pages to assit you in managing your credit during these hard times, see these links; Equifax, Experian and TransUnion. The credit bureaus are taking measures to support people impacted by the Coronavirus and are also working with creditors and lenders to minimize the effects on consumers’ credit standing.

People experiencing a financial hardship are wondering how late or reduced payments impact their credit scores. Experts are encouraging individuals with concerns to contact their creditors and discuss options being offered. The Consumer Data Industry Association (CDIA) is providing guidance to consumers, creditors and lenders on how they can work together to assist anyone affected by the Coronavirus. The CDIA has created a FACT SHEET: Helping Consumers Avoid Credit Problems if Impacted by Coronavirus (COVID-19) which is a very helpful resource of information for getting further help.

Property Disclosures

Justice
There is virtually no sale that is “as is” in Florida. The Seller and real estate licensee must disclose every fact he/she knows that materially affects the value of the property, whether or not it is readily apparent to the Buyer. Using an As-is Addendum or As-is Contract doesn’t void this responsibility when selling a property. In Florida law, the theory of caveat emptor or “let the buyer beware” is not applicable.

The court case that led to the “Material Defects” disclosure is Johnson v. Davis. This case was ultimately determined by the Florida Supreme Court. This court decision is important not only for property disclosures; but also because Johnson and Davis didn’t close on that sale, the liability arose with the signing of the purchase contract.

What is considered a material defect? Consider the following:

  • The building was constructed in violation of the building code or without a permit.
  • The seller know of a structural problem.
  • The seller fraudulently obtained hazard or flood insurance.
  • There was a misrepresentation as to the property use.
  • There was concealment of a pending foreclosure, eminent domain, lawsuit.
  • There’s something the Buyer can prove that, if known prior to the purchase, would have caused the Buyer to either not make an offer or offer less than they did.

A few exclusions exist to material disclosure. A murder or suicide that occurred on a property is not considered a material fact, and thus does not have to be disclosed. A Seller or real estate license should act with an abundance of caution when faced with such a dilemma. In some cases, the question may be: Does it HAVE to be disclosed, or SHOULD it be disclosed? Another exception to the disclosure rule applies if a Buyer asks whether the Seller or anyone in the property is infected with the HIV virus or diagnosed with AIDS. This is not considered a material defect and can’t by law be disclosed. These persons are protected by the Americans with Disabilities Act.

It is recommended that Seller’s give the Buyer a Property Disclosure Statement prior to the signing of a contract.

Beware of Email Phishing Websites!

This blog post details a very sophisticated phishing scam I got in my email. Below is the email chain I received from the scammer asking about New Homes. I responded to their cryptic 1st email and this email message is their response.

—————-

Good day Drake,

Sorry for my late reply i was away for New year celebration and medical surgery. I’m ready to purchase my new Year home. Please find new listing and letter from lender below.

HOME LISTING’S <— This was a link to the phishing website
PRE-EQUAL <— This was a link to the phishing website

Hope to chat soon.

Jonathan Brown.
(719) 398-0941 <— This Phone rings to an anonymous number

—————-

When I click on one of the secure web https links in the email, I got the web page shown below.

When I click on one of the email login buttons shown on the website, I got the web page shown below.

The image looks exactly what a Google login page would look like, however, if I continued and enter my email address and password, I could be giving the scammer full access to my email account.

One way to prevent this from happening is to make sure you add the 2-Step Verification for your email login access.

Here are the links to get 2-Step Verification for several popular email services.

Office 365 2-Step Verification

Outlook 2-Step Verification

Google 2-Step Verification

Yahoo 2-Step Verification

AOL 2-Step Verification

Facebook 2-Step Verification

I hope the above information can help you avoid having your email address stolen from you!

Even in Florida, you can freeze your credit!

Sleep Sound
 

Sleep Sound – Freeze your Credit!

 

Security freezes, also known as credit freezes will restrict access to your credit information making it difficult for identity thieves to open new accounts in your name. A recent law that went into effect on September 21st, 2018, you can now freeze and also unfreeze your credit file for free. You also can get a free freeze for your children who are under 16 or an incapacitated adult if you are their guardian, conservator or have a valid power of attorney.
 
Use the links below to check to see if your information was comprised in the Equifax Data Breach. put a credit freeze on your credit at the three major credit reporting bureaus.

Assigning Categories in the MLS Portal

MLS Portal Selections


I wanted to share a helpful tip when reviewing properties sent to you from the MLS Portal searches. When you get a listing to see via email, click on the property link. After evaluating the listing, you can select the “Heart Icon” located in the upper right of the window, once selected a menu will pop-down and shows you three options. The three options are shown in the image above.
 
You can use the “Save as Favorite” selection to add a red heart icon that signifies that you like the property.
 
You can use the “Save as Possibility” selection to add a yellow heart to signify to sort of like the property and need to research it further.
 
You can also use the “Discard Listing” selection to add a “Trash Can” icon to signify that you do not like the property.
 
The search results in the Portal can be searched by theses categories. You can change a listing’s status by selecting the “Heart Icon and again and making a different selection. When you discard a listing, you will no longer get status updates for it in emails.
 
Other Link: Finding your Favorites in the MLS Portal

Welcome to the
Waterfront Wonderland Blog

COVID-19 (Coronavirus) and Your Credit Score

The outbreak of COVID-19 (Coronavirus) and the personal and economic effects it is having on individuals is extreme. No one is not facing issues by this major disruption. The three credit bureaus have created pages to assit you in managing your credit during these...

read more

Property Disclosures

There is virtually no sale that is “as is” in Florida. The Seller and real estate licensee must disclose every fact he/she knows that materially affects the value of the property, whether or not it is readily apparent to the Buyer. Using an As-is Addendum or As-is...

read more

Beware of Email Phishing Websites!

This blog post details a very sophisticated phishing scam I got in my email. Below is the email chain I received from the scammer asking about New Homes. I responded to their cryptic 1st email and this email message is their response. ---------------- Good...

read more
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