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REAL ESTATE RECORDS FOUND IN DUMPSTER, AGAIN!
September 01, 2009 in Industry News
DENVER, Colo. – This weekend it was Colorado Blvd. A month ago it was the town of Parker. It seems like it’s another day, another dumpster.
Real estate customers with their most sensitive information exposed, and dumped. Customer ripe for identity theft
Real estate broker and mortgage broker Jude Sandvall says it’s a problem that’s cropped up as the real estate market has gone down and brokers big and small have gone out of business.
“You see them there one day and the next morning they’re gone, with their office, over night,” Sandvall says.
On rare occasions, the temptation is there just to trash their files.
But here’s what you can do to protect yourself.
Four years after your deal closes, you can demand your files back.
“I think any mortgage broker would be more than happy to be giving them back,” Sandvall says.
You can also demand your files if your broker or agent goes out of business.
“If the communications from them suddenly fall off that might be an indication they are going out of business.”
Just this year, Colorado became one of the last states to license mortgage brokers.
It’s more protection for consumers, who need to make sure their documents are shredded, and not left out in the open.
The Division of Real Estate is considering pressing for changes to state law that would give them more control over real estate files when a firm goes out of business or closes.
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