1302 kreia newsletter jan 2013

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President’s Letter page 1 National Speaker Larry Goins Filthy Riches page 3 and 5 KREIA’s New Express Lane! Page 4 Letter from Gordon Brown “Home of the Innocents” page 6 Community Buying Group Benefits Explained page 7 Lead Us Not Into Temptation page 8 Member Spotlight Julian Hofmann KREIA Calendar Page 9 Govt Affairs Update page 10 Identity Theft Don’t Get Taken Guarding Your ID page 10 Copyright MMXII Kentuckiana Real Estate Investors Association•P.O. Box 17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association. President’s Letter Hello fellow Real Estate Investors. If you are new to our group, you are in the right place to learn the game of investing in real estate. If you have been a member, thanks for helping our REIA be one of the best in the country for helping our members in every aspect of owning real estate. Your KREIA board members are awesome too in case you don't already know. We are always thinking of the how's and means to improve on everything from the website to checking in at the meetings. Our "wizard" Mike Butler has come up with an easy check in procedure you can do online and even pay in advance to avoid the line at the door that can sometimes get bogged down. If you need help with the website or logging in we will have a help table to assist. All of this is streamlining the whole process and bringing us all up to the latest technology. It's not always easy at first but just think of it like buying gas. Who doesn't use a card to swipe at the pump instead of going inside to wait in line to write a check? In addition to Mike Butler, Aru Tarr is always tweaking something to make it better too. Eric is keeping our presence known on Facebook, Mike Grinnan is keeping our financials in order, Linda has the room set up and the delicious food ordered and the list just goes on and on of what your board does. I for one, say thank you to all the volunteers as it makes my job as president a piece of cake and our club is benefitting from all this talent. Dennis is busy getting the speakers lined up every month and this month is going to be a GREAT one with Larry Goins whose presentation called "Filthy Riches" will show us how to make mega bucks on houses no one else wants! What a concept! Read more about Larry inside. It should be a packed house so be sure and register on line, pre-pay, to reserve your seat and I will see you there! Happy and productive investing everyone! Your President, Connie Horsey P.S. Please take photos at KREIA with your cell phone and email to [email protected] - No photos were sent in last month. Double P.S. It was not that long ago when KREIA had to turn people away at the door because too many people were already in the room. Pre-Pay to safeguard your seat at your next KREIA meeting Vol 13-02 Monthly Newsletter for KREIA Members

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Kentuckiana Real Estate Investor Association Monthly Membership Newsletter

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Page 1: 1302 KREIA Newsletter Jan 2013

President’s Letter page 1

National Speaker Larry Goins

Filthy Riches page 3 and 5

KREIA’s New Express Lane!

Page 4

Letter from Gordon Brown

“Home of the Innocents” page 6

Community Buying Group

Benefits Explained page 7

Lead Us Not Into Temptation

page 8

Member Spotlight Julian Hofmann

KREIA Calendar Page 9

Govt Affairs Update page 10

Identity Theft Don’t Get Taken Guarding Your ID

page 10

Copyright MMXII Kentuckiana Real Estate Investors Association•P.O. Box 17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

President’s Letter

Hello fellow Real Estate Investors. If you are new to our group, you are in the right place to learn the game of investing in real estate. If you have been a member, thanks for helping our REIA be one of the best in the country for helping our members in every aspect of owning real estate.

Your KREIA board members are awesome too in case you don't already know. We are always thinking of the how's and means to improve on everything from the website to checking in at the meetings. Our "wizard" Mike Butler has come up with an easy check in procedure you can do online and even pay in advance to avoid the line at the door that can sometimes get bogged down. If you need help with the website or logging in we will have a help table to assist. All of this is streamlining the whole process and bringing us all up to the latest technology. It's not always easy at first but just think of it like buying gas. Who doesn't use a card to swipe at the pump instead of going inside to wait in line to write a check?

In addition to Mike Butler, Aru Tarr is always tweaking something to make it better too. Eric is keeping our presence known on Facebook, Mike Grinnan is keeping our financials in order, Linda has the room set up and the delicious food ordered and the list just goes on and on of what your board does. I for one, say thank you to all the volunteers as it makes my job as president a piece of cake and our club is benefitting from all this talent.

Dennis is busy getting the speakers lined up every month and this month is going to be a GREAT one with Larry Goins whose presentation called "Filthy Riches" will show us how to make mega bucks on houses no one else wants! What a concept! Read more about Larry inside. It should be a packed house so be sure and register on line, pre-pay, to reserve your seat and I will see you there!

Happy and productive investing everyone! Your President,

Connie Horsey

P.S. Please take photos at KREIA with your cell phone and email to [email protected] - No photos were sent in last month.

Double P.S. It was not that long ago when KREIA had to turn people away at the door because too many people were already in the room.

Pre-Pay to safeguard your seat at your next KREIA meeting

Vol 13-02 Monthly Newsletter for KREIA Members

Page 2: 1302 KREIA Newsletter Jan 2013

2 Copyright MMXIII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

Your KREIA Leaders

President Connie Horsey

Vice President Dennis Erhard

Secretary Chris McCarty

Treasurer Mike Grinnan CPA

Treasurer Elect Aru Tarr

Board of Directors

Mike Butler

George Foree

Eric George

Jean Hall

Mark Hass

Frank Miller

Linda Brun

Duffy Ford

Dan Jones

Jay Long

Rue McFarland

Dick Vreeland

Parliamentarian Hank Schildknecht

Immediate Past President Mark Schaffer

Your KREIA Leaders are involved and chair several committees to make KREIA happen every month for you and your fellow KREIA Members.

Get involved with KREIA. You can help with the monthly meetings, L.O.T.S. Program, this newsletter, Saturday Workshops, Government Affairs, Social, Annual Picnic, Marketing, the new KREIA website and more PLUS You Get EXTRA KREIA Points for everything you do!

Get phone and emails of all KREIA members with the new KREIA Online Member Directory.

Reach out and tell them they are doing a great job! (It makes them do more for KREIA!)

KREIA Newsletter published monthly and serves both as a newsletter and a reminder notice of your upcoming monthly meeting. KREIA is a member only association focused on education, networking, and resources for today’s investor. o educate real estate investors from the basics to the complex. We are an excellent choice for all levels of investors. Whether you are just starting out in real estate investing, or are working on your hundredth deal, KREIA can help you learn more, earn more, and have more fun doing it. To Subscribe to the KREIA Newsletter is simple and easy. Go to KREIA.com and join the Kentuckiana Real Estate Investors Association.

Group Discounts are available.

To Advertise in the KREIA Newsletter

To Advertise on KREIA.com

To Sponsor A Monthly Meeting

To Sponsor A LOTS Program

Please contact [email protected]

KREIA Sponsorships Diamond: Full Page Ad + Table + Pre-Meeting Speaker Only $995 or $99 mo.

Gold: Half Page Ad + Table + Pre-Meeting Speaker Only $499

Silver: ¼ Page Ad Only $299

Business Card : Ad Only $149

Event Sponsor: Meeting, LOTS, Saturday Seminars, and more!

-----------------------------------------------------

Place Your Ad Now at KREIA.com ---------------------------------------------”KREIA Advertising is by far, hands down, the absolute best advertising dollar ever spent for Borders & Borders!” Harry Borders, B&B Attorneys

Page 3: 1302 KREIA Newsletter Jan 2013

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Larry Goins February Meeting

What is Filthy Riches? Filthy Riches is a proven Method of buying

Cheap $5000 houses that no one else wants then reselling them at 5 to 6 times what you paid!

What you will learn from Larry…

How to make up to $43,937.60 on a run down $5,000 house no one else wants!

Where to find cheap $5,000 houses no one else wants!

How to analyze any property in 2 seconds flat for a quick yes or no!

How to sell them at 5-6 times what you paid!

How to totally eliminate any competition when making offers!

How to buy properties at 25-35% of the listing price!

How to get more of your offers accepted!

The problems with traditional investing and how to totally eliminate them!

Why this is easier, faster and safer than wholesaling!

How to use eBay to create a buying frenzy and get more than you are asking!

The 2 biggest problems investors have and how to totally eliminate them!

Why most investors fail and how anyone can do the Filthy Riches system!

Why you do not need any money to do this!

How to get up to 119% returns on your money just like I do!

How I have made up to 788% returns and you can too!

How to create a monthly income of $7,590.12 for the next 10 years with only $5,000!

My exclusive secret to why this works so well!

Why most investors fail and why you cannot fail at this!

How to know exactly which properties to jump on and which to run away from!

How to buy houses by email only!

3 Absolute must have clauses in every offer! (it’s not what you think)

How to get the seller/realtor to do ALL of the work to sell your properties for FREE and love you!

How to sell a house, get paid and so does your buyer!

Who your buyers are and why they will fight to get you to sell them your houses!

Why and how you can do this from anywhere with zero risk!

How to get other people to do this for you without any previous real estate experience!

My exclusive 4-step quick start checklist that guarantees your success!

Why there are no more excuses for not making money in real estate!

How to finally stop buying courses and start buying houses!

Larry Goins is coming to Louisville to speak at KREIA, Thursday, Feb 28

How To Make More Money On A $5,000 House No One Else Wants Than The Average Investor Makes

On A $100,000 House Guaranteed!

Filthy Riches!

Page 4: 1302 KREIA Newsletter Jan 2013

4 Copyright MMXIII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

KREIA Meeting Coupons

Brand New “Invite A Friend To KREIA Program” allows YOU to attend your next meeting for FREE! How It Works:

1. At your next KREIA Meeting, go to the membership table and ask for 10 KREIA Business Cards.

2. You must sign the sheet showing how many KREIA Cards have been signed out by You. Most members will sign out 10 cards at a time; however, if you have an office or you expect to run into many investors in your line of work, you may request to get 25 cards (max) to display in your lobby, on your desk, etc.

3. IMMEDIATELY, while at the Membership Table, legibly PRINT Your Name on the backside of each card in the “Referred By:” field.

4. Now you can begin using the KREIA Business Card Program to get your next meeting for free.

5. Simply hand out your KREIA Cards (with your name already pre-printed on the backside) to folks who you feel would or could benefit from joining KREIA. The KREIA Card you give them allows real true “guests,” not former members who let their membership lapse, to attend a meeting for Only $10 – thanks to you. They will submit their $10 Meeting Coupon at the door and their card already has your name on the back.

6. When your guest turns in your card, joins KREIA and becomes a member, you will get your next meeting absolutely Free. This is not ANY meeting, or meeting of your choice, but the next monthly meeting following the month your guest joins KREIA.

What Are You Waiting For? Get Going Now! Sign Out at least 10 KREIA Business Cards on Thursday and let’s get KREIA to be THE MEETING of the Month for all local real estate investors!

Members and Guests can “Pre-Pay” for each monthly meeting in advance. Your Benefits when you “Pre-Pay” online:

Paid receipt auto-emailed to you for your records

NO Waiting in Line at the Door!

Use EXPRESS Lane and say your name

Your Name Tag Ready and waiting for you

Special Door Prize limited to only those who “Pre-Paid” their meeting registration.

FAST, Simple, and Easy!

Pre-Pay Now at KREIA.com

KREIA Needs Your Help!

Helpers Needed!

Registration Table Staff

Photographers

Advertisers’ Laison

Monthly Meeting Set Up

Please See Dennis Erhard or Connie

Page 5: 1302 KREIA Newsletter Jan 2013

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Larry Goins February Meeting Veteran Real Estate Investor Proves Filthy Houses “No One

Wants” Creates Double (Or More) Profit Than $100,000

Houses Most People “Think” They Should Be Investing In

Mark Your Calendar Now for This Thursday’s KREIA Meeting, Feb 28th to See How YOU

Can Do This (EVEN IN TODAY’S MARKET) And the Debut of This New Simple System In A Box

That Contains Every Detail On How It’s Done.

See How the “Filthy Riches” model…

Proven to make up to $43,937.60 (with no rehabs or complications)

Created A 788.79% Return (in the FIRST year)

Turned $5,000 “clunkers” in $12,111.64 (or MORE) in profit

Practically finds deals for you (on the internet FROM HOME!)

Is the easiest and most profitable system in real estate today

Can be set up quickly with NO cash, No credit, and NO experience

BIOGRAPHY OF LARRY GOINS:

Larry H. Goins is not only licensed as a mortgage lender and mortgage broker in North Carolina and South Carolina, he is also licensed in both North Carolina and South Carolina as a Real Estate Broker and General Contractor. He is a member of the North Carolina Association of Mortgage Professionals and a member of the National Association of Mortgage Professionals. Larry has been investing in Real Estate for over 20 years.

In the past, Larry has served as President (2003 & 2004) of the Metrolina Real Estate Investors Association in Charlotte NC, a not-for-profit organization that has over 350 members and is the local chapter of the National Real Estate Investors Association.

Larry is an active real estate investor and travels the US speaking and training audiences at conventions, expos and Real Estate Investment Associations on his strategies for buying 10-15 properties per month without ever leaving his office.

Between speaking engagements and mentoring other Investors, he oversees the daily operations of Investors Rehab, Inc. Investors Rehab, Inc. is a real estate investment company that buys and wholesales 10-15 properties per month to other investors.

On A Personal Note Larry and his wife, Pam, have two children, Linda and Noah. He is a member of River Hills Community Church in Lake Wylie, SC and plays guitar in the Church Praise Team. As a Husband, Father, Business Man and Real Estate Investor, Larry holds true to his core values and moral integrity. His personal and business motto is, “People & Principles before Profits”

Filthy Riches!

Page 6: 1302 KREIA Newsletter Jan 2013

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KRIEA Has Raised Over $155,000!

Page 7: 1302 KREIA Newsletter Jan 2013

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Page 8: 1302 KREIA Newsletter Jan 2013

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The recent economic state of affairs has led to many new developments in the real estate industry. Imagine ten short years ago asking your lender to release its mortgage lien on your property for 50 cents (or less) on the dollar. You would have been laughed out of the bank.

But with the collapse of property values in some areas, a new term has entered our real estate lexicon: “short sale.” We all know the drill. The homeowner completes the necessary paperwork, usually consisting of a sample HUD, financial statements, title commitment or opinion letter, BPOs, etc. and forwards the package to the mortgage servicer, and waits and waits and waits.

The lender will eventually get back in touch claiming that the information is out-of-date (though it wasn’t when it was submitted). Additional documentation is usually requested, and the transaction might be approved with certain conditions, possibly requiring that the person making the request execute an affidavit that they have submitted correct information asking for loan forgiveness.

Unfortunately, bad times often tempt people to do things that they would never consider in a million years under ordinary circumstances.

Consider a typical midwestern couple: They were the owners of a McMansion in the upscale community of Grosse Pointe Park, Michigan. Since they could no longer afford their home, and they were “upside down,” they requested a short sale from ING Direct, a subsidiary of Capital One Financial. They submitted all the proper documentation, including current financial disclosures and a letter pleading financial hardship. The bank approved the sale, and the couple was asked to pay an additional $10,000.00 toward the shortfall of $90,000.00.

All was well, or so it seemed.

The problem was with their creative financial planning, or should we say scheming? You see, the couple owned a home in Florida free and clear, which they conveyed to a relative shortly before the short sale negotiations began.

Five months after the closing--and the debt relief was finalized--the $600,000 Florida home was transferred back into their names for the bargain price of $10.00.

The lender was not impressed with their creative plan.

The result was a criminal indictment for fraud brought in federal court in Detroit. The specific allegations for fraud included making false statements to the lender, hiding assets, and failing to disclose ready available cash.

A felony plea of guilty was taken before the judge on January 29, 2013. Sentencing will be shortly, and the United States Attorney is asking for a monetary fine and/or up to 18 months to serve in the federal penitentiary.

And exactly who is this typical Midwestern couple? Well the husband is a lawyer (imagine that, one bad apple), and the wife had been a Justice on the Michigan Supreme Court since 2008, until she abruptly resigned last month, no doubt for personal reasons. So now she will appear before another Judge to receive her sentence. (Thus it can truly be said that it is much better to give than to receive, especially when handing out jail time.)

The lesson learned: when processing short sale applications, make sure that all information submitted is accurate and that no pertinent facts are omitted. If a Democrat judge is not shielded by the feds in a Blue state like Michigan, you are not going to be receiving any mercy in Kentucky for a similar offense. Henry Schildknecht Attorney at Law (502) 893-4494 [email protected]

Lead Us Not Into Temptation (or Prison)

Page 9: 1302 KREIA Newsletter Jan 2013

KREIA Reporter

Copyright MMXIII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

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Julian Hoffman is a 26 year old investor who has been a member for almost 2 years, he has been a real estate investor for two years. He has 5 single family houses and plans on adding several houses per year to his portfolio. He has been in the Kentucky Army National Guard for 9 years and works full time on Ft. Knox. His parents started their real estate business while he was in high school and sparked his interest.

Julian is currently studying for his bachelor’s degree in Business administration and project management. Julian met Darin O-Neal at an investment seminar, who introduced him to KREIA and has been mentoring him in his real estate investment ever since. Julian says Darin has been a very positive influence in his life and is very thankful to have a mentor who shares his knowledge in every aspect of life. He loves being a KREIA member and finds the club networking to fascinating. He is interested in meeting any investors who are interested in owner financing single family or multi-family homes and can be contacted at (859) 230-3221. Julian Hofmann [email protected]

Welcome NEW Members! Welcome

NEW Members! William Prifogle Mike McKnight

Sean Williams Bill Murphy

Special Door Prize When You Pre-Pay For Your Monthly Meeting!

Page 10: 1302 KREIA Newsletter Jan 2013

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Rue McFarland

Government Affairs Update

Kentucky General Assembly

Is “In Session”

There are a number of new bills in Frankfort affecting real estate investors

Scan the QR Code to read on your phone - - - -

Or go to http://KREIA.com/govtaffairsjan2013

502.897.6060 [email protected]

Page 11: 1302 KREIA Newsletter Jan 2013

Copyright MMXII Kentuckiana Real Estate Investors Association•PO17592 • Louisville, KY• (502) 509-2216 www.KREIA.com DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.

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your requests every four months from one bureau to the next. You're also entitled to a free credit report from each bureau after you place a 90-day fraud alert on your credit file-which you should do every 90 days if you've been notified of a security breach, your wallet has been stolen, or you detect other red flags of ID theft. The alerts prompt lenders to more carefully verify applicants using your ID.

Web scans offer false security.

Some services scan online black-market chat rooms for your stolen Social Security number or credit-card numbers. But if crooks are found to have your ID data, you can't get it back from them.

Do it yourself for less. If your data turn up on a scan, protection companies advise you to place a security freeze on your credit reports. That prevents new creditors from getting access to your file when someone tries to open an account, so they're more likely to deny a crook's credit application. But you can freeze your files without paying a service to scan the Web. There's a small fee for each freeze in most states, unless you're already a victim of ID theft.

$1 million insurance is overkill.

Most services offer up to $1 million in ID-theft insurance. But they don't pay if your loss is covered by federal consumer protections, your homeowners or renters insurance, or a merchant, which is the norm. The majority of ID-theft victims had zero out-of-pocket loss in 2011, according to Javelin. A minority did lose money-the average was $309 for existing-account fraud and $1,205 for new-account fraud.

Alerts are overpriced.

Six of the eight biggest ID-protection services offer e-mail or text alerts when they detect that your identity might be fraudulently used in credit, cellular, and utility-service applications. You can stop the crime by responding "That's not me."

That simple service might be worth paying for, but it comes rolled up with other unnecessary services. One expert says corporations already use the underlying ID-scoring technology to stop most fraudulent applications without alerts.

Do it yourself for less. If you think the service is worthwhile, buy stand-alone alerts for $5 a month and get a free ID-theft protection risk assessment at myidalerts.com.

Special thanks to your fellow KREIA Member Ralph, who forwarded this eye-opening article to share with all members.

DON’T GET TAKEN GUARDING YOUR ID

ABOUT 50 MILLION U.S. consumers spent $3.5 billion in 2010 to buy products that are claimed to protect their identity. But do-it-yourself safeguards are just as effective as paid services, according to Javelin Strategy & Research, a California consulting firm. And self-help costs little to nothing; the paid services cost $120 to $300 annually. Here's why you don't need to buy ID-theft protection:

Marketing Can Be Deceptive.

Regulators have slapped the ID-protection industry several times for deceptive marketing practices. Last summer, after actions by federal regulators, Capital One and Discover Financial Services agreed to pay a combined $410 million in refunds and penalties related to deceptive marketing of identity protection, credit monitoring, and other services. Prior to that, Affinion, Experian Consumer Direct and LifeLock had been caught and punished for alleged deceptive marketing practices, such as not adequately disclosing automatic sign-up after "free" trials and promising to prevent ID theft, even though the services don't actually do that.

The Threat is Exaggerated.

Two-thirds of cases of ID theft reported to the annual National Crime Victimization Survey involve stolen credit cards, not stolen identities. Federal regulations limit your liability, usually to $50 per account, and even that is often waived by card issuers. And stolen debit cards and check forgery, and existing-account fraud makes up 80 percent of so-called ID theft.

Do it yourself for less. Sign up for free online banking and mobile apps to monitor your checking and credit accounts daily.

New-account fraud is uncommon.

The most destructive type of ID theft is having your name, birth date, and Social Security number used to open credit accounts, tap your health insurance, or file a tax return in your name to steal your refund, among other crimes. But less than 1 percent of households experienced that form of ID theft in 2010, according to the Department of Justice.

Credit monitoring is flawed.

The core of many ID-protection products is credit monitoring, which looks for fraudulent new accounts on your credit reports. But most e-mail and mobile alerts from these services raise false alarms about routine changes in your file. And if fraud is detected, you might not be "warned" until days, weeks, or months after the fact.

Do it yourself for less. Get free annual credit reports from each of the three major credit-reporting bureaus-Equifax, Experian, and TransUnion-by going to annualcreditreport.com. Stagger

From Consumer Reports

Page 12: 1302 KREIA Newsletter Jan 2013

.com

PO Box 17592 Louisville, KY 40217 Return Service Requested

KREIA’s Monthly Meeting! Thursday Feb 28th

How To Cash In with Junkers! with National Expert Larry Goins

PRE-Meeting:

How To Use Your New KREIA Member Benefit

“Community Buying Group” Ben Rao, President