Mar 7, 2008 7:51 am US/Eastern
For Your Money
Foreclosures Hit Record Levels
Pending Home Sales Stable In February
Feds Say Beware of Tax Rebate Scams
UNDATED (CBS4) ―
FORECLOSURES AT RECORD LEVELS
An industry group has reported that home foreclosures soared to an all-time high in the final quarter of last year. The newest analysis by the Mortgage Bankers Association underscores the suffering of distressed homeowners and the growing danger of the housing meltdown on the national economy.
PENDING HOME SALES STABILIZED
U.S. pending home sales stabilized last month.The National Association of Realtors says its index of pending sales for existing homes came in at 85.9, the same number as December, and just shy of a revised record low of 85.8 in August.
TAX AND REBATE SCAMS
The federal government is warning people against schemes to get at your tax rebates. The scam is described when consumers get a call or an e-mail claiming to be from the IRS, the Social Security Administration, or some other government agency, and claiming to need some bit of personal information to process the rebate check. Consumers may be asked to provide their social security number, bank account number, or another piece of personal information that a skillful crook can use to commit identity theft. E-mails often include a link for a consumer to click: that link may take the consumer to an official-looking - but phony - website that is simply phishing for the consumer's information. Or, the link may take the consumer to a legitimate site but install spyware or some other form of malware on the way.
The FTC urges consumers who are contacted by phone or e-mail not to provide any personal information and to report the contact to the IRS or the Social Security Administration at 1-800-772-1213.
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