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8.20.19 New ways to sell your home; Wells Fargo does it again; Fighting for your Equifax breach money

8.20.19 New ways to sell your home; Wells Fargo does it again; Fighting for your Equifax breach money

FromThe Clark Howard Podcast


8.20.19 New ways to sell your home; Wells Fargo does it again; Fighting for your Equifax breach money

FromThe Clark Howard Podcast

ratings:
Length:
39 minutes
Released:
Aug 21, 2019
Format:
Podcast episode

Description

iBuyers are the real estate organizations that can buy homes to simplify the process. They have big money behind them to accomplish this and include Offerpad, OpenDoor, Knock and others including Zillow. In addition, traditional agencies are entering into alliances with iBuyers. MarketWatch reports Keller Williams is partnering with Offerpad in 12 cities. These organizations are experimental. Their business models keep changing. Clark sold a rental condo recently and listed with an iBuyer (Offerpad) after talking with several. The process has interesting wrinkles. Knock is working with builders and provides the bridge between selling and buying. All base their buy offer on the condition of your home. They’ll offer less to do improvements with their contractors for a quick turnaround. The iBuyer process has its limitations. It works well in the South and the West suburban communities with comparable homes from large production builders. This doesn’t work in older communities, in the NE U.S. iBuyers concentrate in the middle of the market. They may never serve certain markets. Traditional agencies will likely be expanding their services aligned with iBuyer business models. If you’re putting your home on the market, get quotes from iBuyers if available, along with traditional agents. You get fair market value info from their various algorithms.
The NYT has investigated continuing egregious practices by Wells Fargo. This bank can’t get out of its own way, despite their ads indicating reform. Their latest outrage: arbitrarily closing accounts, generating overdrafts on auto payments. These fees are a huge profit center for them, and costs customers huge fees. $1500 was the damage on one account. WF then puts their customers/victims on the bad list for the banking industry, making it hard to impossible for them to even bank elsewhere. Wells Fargo was defiant in their response to the NYT. They’re not close to becoming customer focused or honest. Beware.
Laura from Team Clark was an identity theft victim and has experience navigating the process. Laura went to the Equifax Claim site and was indeed eligible to file, as her id theft about 2 years ago, was a result of their data breach. Someone opened a credit card in her name, applied for multiple loans, cell service and more. Damage control took weeks of phone calls. Since, Laura has frozen her credit and monitors it with Credit Karma. Her credit has bounced back by now. She considers herself lucky they didn’t do more damage. They could have. Many expecting to receive compensation won’t receive much. Using the link at Clark.com, Laura applied for the $120, but so many have filed claims, the awards won’t be that much. But problem solved because she worked hard to advocate for herself, and fortunate more damage didn’t occur. Laura says FREEZE YOUR CREDIT NOW
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Released:
Aug 21, 2019
Format:
Podcast episode

Titles in the series (100)

Save more and spend less is more than just a motto for money expert Clark Howard; it’s a way of life. Clark and his crew — Team Clark — are on a mission to empower people to take control of their personal finances by providing money-saving tips, consumer advice, hot deals and economic news to help everyone achieve financial freedom. Clark is a nationally syndicated radio talk show host and a consumer reporter for television stations around the country. His podcast, The Clark Howard Show, receives more than one million downloads each month and is a hub for listeners to get valuable advice on-demand any time. Clark answers questions on the most popular business and consumer topics including; how to buy a cars, financing a home, retirement planning, shopping for insurance and getting the most out of your savings. Join the conversation and submit your question to www.clark.com/askclark . Clark spearheads two free resources — Clark.com and ClarkDeals.com — to encourage consumers to save more, spend less and avoid ripoffs.