For years we have been warned to be extra careful as to whom you give your credit card or debit card to whether it would be on the phone, the Internet or especially in person.

But consumers may be totally surprised how easily one can become a victim of identity theft and how often it occurs even if you still have the card physically in your possession.

There is a new kind of crime that is becoming more and more frequent called “skimming.” Criminals are now taking full advantage of technology and can steal your credit card information at a moments notice.

Just recently reported by the St Louis Refinancing Group news team, skimming has received more news attention than ever due to banking incidents happening at Bank of America banks.

Skimming occurs most frequently at retail type stores that process credit and debit card payments which would include bars, gas stations, restaurants and get this, ATMs.

Let’s take for example an employee who decides to commit theft. They simply steal a customer’s credit card information off the magnetic strip on the back doing so by means of scanning with a hand held electronic device.

Once they have your private financial information, they can now go on their dream shopping spree or sell your information to criminals where counterfeit cards are made.

But there is now a new way to capture your card information. When you use your cards at an ATM, they can steal your data by using cameras or personally watching you key in your 4 digit PIN number.

What is sad is that most cardholders never know that the fraud has taken place nor any idea something is wrong until the criminal activity is spotted on their bank statement. And that is if they look at their statement very closely.

So, here are 10 tips to help keep your financial information private and safe:

1. Keep your personal information updated with your bank or financial institution. This is very important if an issue every occurs and you need to dispute any fraudulent charges.

2. Take the time and write down all customer service numbers on the back of your cards so they are readily available if your cards are lost or stolen.

3. Never use an ATM that is dirty or in bad shape. They may not be in working condition or may be a counterfeit machine put their to steal your credit card information.

4. Always let your bank or credit company know when you travel and where you are going so that they can monitor purchases and decline any suspicious transactions.

5. Watch the signage at all ATMs. This may tip you off that something isn’t right such as ‘enter your PIN twice to complete transaction, etc.

6. If your bank(s) offers email banking alerts, make sure you sign up for them.

7. If you notice that the front of an ATM machine looks damaged or loose, this may be a sign that someone has attached a skimming device.

8. Keep in mind that the location of the ATM you are patronizing. If there are suspicious individuals casing the ATM, they probably want your cash or are wanting to watch you type your PIN number. If you ever lose our card in a machine, just leave. It may be best to politely turn down assistance from someone who may have been watching you. You can always call your bank and get a new card.

9. Make it a habit to cover the keypad with your other hand when keying in your PIN number. This will prevent someone or a camera from capturing your numbers.

10. Although ATM skimming is growing at a quick pace, skimming occurs more often at retail outlets such as restaurants. If possible, always keep your card in sight. Try not to let anyone leave with your card if you can help it. If you are in a retail store and they say they have to go to another counter to run the card, follow them. If in doubt, pay with cash.

Another good piece of advice that was mentioned above is to check your balance on a regular basis when your statement arrives.

You should also stay abreast of the laws protecting your credit card rights and that these laws do not always apply to debit card purchases. Always use your credit card if possible when making purchases.

Always notify your bank or credit card company within two days of losing your cards. This may help limit your losses to $50. The worst thing you can do is prolong this needed phone call. You may end up suffering greater financial losses by waiting.

Looking to find the best deal on a St Louis refinancing loan, then visit www.StLouisRefinancingGroup.com to find the best St Louis finance advice on a St Louis mortgage for you and your family. Get your questions answered by calling the St Louis loan experts at 877-334-0210 or 314-334-0210.

In the last 24 months the American homeowner has had to face banking and real estate crises including unemployment rates that have been hovering in the double digits.

With the federal tax credit program soon expiring, St Louis refinancing and lending analysts seem concerned that any hope of a recovery may now be out of reach as unemployment seems to be on the rise.

However, to the great disappointment of political experts and financial professionals, the Obama administration’s additional initiatives to modify consumers’ loans facing foreclosure has horribly failed and has not met with any great success thus far just as the federal stimulus met with similar doom.

St Louis mortgage professionals also fear that a huge supply of discounted homes will hit the market in 2010 and this additional supply of homes will only worsen an already failing market situation.

As the deadline for the home tax buyer credit approaches April 30th, there is no evidence nor likelihood that we will see any increase in housing demand whether it would be new purchases or refinancing nor will this federal program be extended any time in the near future.

But what is surely ironic is no one seems to be strongly and publicly advocating consumers to buy a house at this time. In fact, Tim Surrat, a real estate agent, seems to echo this thought by saying: “No one is saying that they need to buy before the tax credit expires.”

Some experts are saying that the size of the tax credit at $6,500 to $8000 is actually too small to influence buyers to make any kind of immediate buying decision.

The real problem that the banking industry seems to agree upon is this in no way takes into consideration the needed savings to offset the home buyer’s down payment or commissions to real estate agents.

Let’s take for example a house that is priced at $164,000. If the real estate agent’s commission is at 6 percent, the amount paid would be $9840. In this case, as it would for most transactions, the expenses would be much higher than the $6500 to $8000 being offered.

As Roberton Williams, a senior associate at the Tax Policy Center, said: “You’ve got a really big problem that requires big guns, and the tax credit is just not big enough.”

Many lobbyists are saying more time should have been spent on making this program much more financially advantageous to buyers rather than the apparent wasted time on the controversial passage of the recent health care program.

The next crisis that seems to lay ahead of our political decision makers is will the social security system get the needed emergency cash to help keep it going. Let’s hope this agenda passes with gold stars.

Want to find out more about a St Louis home loan, then visit Floyd J. Tapia’s site on how to choose the best St Louis mortgage for your needs. Call his office 24 Hours at 877-334-0210 or 314-334-0210.

The Treasury Department just released disturbing reports that about 90,000 “distressed borrowers” will be losing their federal mortgage aid under the government’s foreclosure prevention plans possible making this another administration failure.

But the news may prove to be much more damaging. This announcement includes the thousands of homeowners who have already modified their loans to lower payments and have paid them on time.

While some of these consumers are losing their benefits due to a failure to prove that they were qualified for this help in the first place, many other participants are losing their current loan modifications due to earning too much or too little since they started the process.

The problem stems from the fact that some of them are actually saving money for their retirement. And that in turn could mean you’re out of the loan modification program because their savings would put them over the limit permitted so that they no longer qualify for federal aid.

Now that’s not to say that there will always be those who approve and disapprove of federal funding to help bailout distressed homeowners. But the problem perhaps lies in the very system itself.

The problem lies not in the fact that these distressed homeowners were rightly approved for foreclosure prevention benefits after submitting all necessary paperwork, but the grim reality that they no longer have any rights to this emergency funding due to government loopholes.

The devastating irony is that taxpayers who have paid taxes for years to keep the government going are the very homeowners who now need assistance yet are denied such deserving benefits. This bailing out of fraudulent companies must stop and all monies re-routed to taxpayers who deserve such benefits.

But sad scenarios such as this has helped give birth for private companies to provide similar services to consumers needing this help but at a cost.

Wells-Fargo is one such private company and bank who is offering help to distressed borrowers in lieu of federally mandated options. And there is no surprise to the large number of mortgage owners leaving the fickle government programs for these private ones.

Why? It seems once you’re in there, you actually have a shot at getting a direct answer on whether or not you’re able to keep your home and what your payments will be. This may be what homeowners need and will use.

When applying for a St Louis lending loan or for the best St Louis mortgage rates, call the St Louis mortgage experts at 877-334-0210 or 314-334-0210 and ask for Steve, Doug or Floyd.

It has been a bewildering year as homeowners nationwide have had to deal with massive job losses, the insolvency of banks and continued tidal waves of imminent foreclosures.

The harsh reality of this appalling situation is a paltry 4 percent of total homeowners receiving long-term mortgage assistance who faced foreclosure this past year.

This has created a whirlwind of lawmakers trying to explore financial alternatives within the Obama administration aimed at helping the remaining 96 percent who may still lose their homes.

Demographics are showing that approximately two million homes and other real estate elements are falling into foreclosure or are bank-owned with more losses coming.

The government’s current solutions have been futile at saving homes from this foreclosure epidemic and that there is an anticipated 8 million foreclosures looming on the horizon as the economy falters according to Citigroup analysts.

Could the answer lie in encouraging more short sales? Well, the National Association of Realtors reported that over 500,000 home sales in 2009 were actually short sales. This was almost 10 percent of total house sales for the year.

Interestingly, Bloomberg.com said that banks who were once contrary to these type transactions are beginning to go along with short sales in larger numbers.

Further data shows that short sales almost tripled to 40,000 in the first six months of 2009, compared to the same months in 2008 as reported by the St. Louis Refinancing Group and the local lending community.

The Office of Thrift Supervision and the Office of the Comptroller of the Currency seems to feel that in reality there were 25 foreclosures started or completed for each short sale filed and completed.

Mr. Richard Green, the director of the Lusk Center for Real Estate at the University of Southern California in Los Angeles writes: “It’s really finally dawning on banks that they’re better off with a short sale. I think banks were in denial.”

Most homeowners don’t know this but there are a few benefits in doing a short sale. You remain in control of the sale as like any other home sale. And you can spare yourself the social stigma of having a foreclosure on your credit report.

And if your mortgage payments were never 30 days late and the lender didn’t require you to pay back the loan, you would be allowed to purchase a future home after said short sale occurred according to Fannie Mae guidelines either immediately or after a waiting period of no more than 3 years.

However, if your mortgage payments fell behind more than 30 days and a short sale was approved by the lender, you still may qualify to buy another home with Fannie Mae within 2 years.

But what if you were a victim of foreclosure? Do not despair. Even with restrictions in place, you may qualify to by another home within 5 years and if there’s no restrictions in place, within 7 years.

And for those who are investors and do not occupy the home, the wait to buy with a Fannie Mae insured loan is 7 years.

With political pressures escalating from demanding consumers in the mortgage arena, the Obama administration has had no choice but to champion the short sale as a feasible alternative to foreclosure.

There have been finalized guidelines carefully defined by the Treasury Department for utilizing short sales under the Making Homes Affordable program.

Under the new Home Affordable Foreclosure Alternative (HAFA) program, the administration is urging participating servicers to follow through with short sales as an alternative to foreclosure.

This new program known as HAFA was executed to assist distressed homeowners who were not able to qualify for a temporary or permanent loan modification under the (HAMP) Home Affordable Modification Program.

Learn more about the best St Louis Mortgage loan. Stop by Floyd J. Tapia’s site where you can find out all about a St Louis Mortgage Refinancing and what a new home loan or refinancing can do for you.