Are you giving the wrong people your private information?

Here is a great insider secret. One of my favorite parts of my job is that I get to see what everybody else does for a living. It never ceases to amaze me how many different jobs there are, and the other day we were treated to some insider information from an Information Broker.

Video 161

►

What’s an information broker? You probably have one of the many “preferred customer cards” that a lot of the drug stores and grocery stores have? Well an interesting thing happens with those. The information as to your purchases is collected. Information likke what foods you bought, what alcohol you bought, what tobacco products you bought, did you buy potato chips or other junk food, what medication you bought. The information is collected via bar code on each product and linked to you and your customer rewards card. Then the information is sold (you didn’t actually think the grocery store was doing all that discounting out of the goodness of their hearts did you?).
Guess who is able to buy this information about you? Anybody… that’s right anybody. For instance, marketing people and …… insurance companies, I think you get the picture.
And remember, when you filled out your preferred customer card, you gave your name, address, and phone number. Do you really want your insurance company and who knows who else to have information regarding what products you bought last week or all of last year, or what medications you bought?
I sure don’t. So next time I am asked if I want a customer loyalty card, I will only do it if it doesn’t require my correct name and info. I’m not a conspiracy theorist kind of person, but when I got this insider info, it really made me think.
Speaking of thinking, would you please do me a favor? Don’t keep me a secret. If you can think of anybody that is buying a new home, or refinancing their current home, would you call me so you and I can discuss the best way for me to get in touch with them so that they can get the help they need right away?
Thanks for letting me help. As always, I am happy to help you and your friends or family with no hidden agenda like the issuers of those Preferred Customer Cards. Thanks for joining me today and I’ll see you next week right here on your weekly Tip.

The House gives the Military another shot at $8000

Thursday, the House of Representatives voted unanimously to pass the Service Members Home Ownership Tax Act of 2009 extending the current $8,000 first-time home buyer tax credit to November 30, 2010 for members of the military, Foreign Service, and intelligence corp who served at least three months of qualified overseas duty in 2009. At least for now the program is set to expire on November 30th, 2009 for everyone else. The justification for the extension stems from the fact that if you’ve been serving abroad, it makes it difficult to look for a house and take advantage of the program. Extending it another year certainly makes sense.

The bill still needs to pass the Senate, be reconciled, then signed by the President before it is law. Given the circumstances this seems highly likely.
As for plans to extend the existing tax credit for all non military persons, there are several proposals floating around on capitol hill. These range from extending the current law for another six months to increasing the credit to $15,000.00, extending the credit to all homebuyers, and even extending a $3,000.00 credit to those refinancing in 2010.

You may remember that before the current law was passed there were several options that were far more grandiose. It is likely the current law will be extended in its current form with little change for a period of 6 to 12 months. That being said, it is unlikely we will have certainty on this issue until November 30th. I would not advise complacency now. If you are in the market to buy a home now and you are a first time home buyer… get cracking. You are running out of time. Too, if you are waiting in hopes for a better deal to come out of Washington next year, don’t hold your breath. It is unlikely.

If you have not started the process due to poor credit, now is the time to start. Put together a plan that will have you ready to purchase before this possible second opportunity passes you by.