Has anyone experienced this yet w/ closing on your home? A co worker just got charged $$$ for this, for looking her and her husband up----I am glad she told me, I want to be ahead of the ball when this (if) gets mentioned to us...
littlecat
Posted:
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Re: Patriot Act
what is it?
Kriss2c
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Re: Patriot Act
I thought the Patriot Act was the withholding of a certain amount of funds until a check clears.
Jmg11
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Re: Patriot Act
yes, that is normal and a part of our lives since 9/11.
lesleyw
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Re: Patriot Act
My lawyer mentioned this to me. Apparently, they do a search against a 'terrorist database' and if your name happens to be similar to a name on this list, it can cause huge delays. She didn't mention the $$ part, but I imagine they do charge for that search.
Maribelle7777
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Re: Patriot Act
so they check your name against a terrorist database to see that your not a terrorist buying a house?
ok - i know it needs to be done but i still find that extremely funny.
well not so funny if you share the same or similar name to a known terrorist.
Jenn524
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Re: Patriot Act
I conduct these searches about 10-15 times a day. It's a search on a government website that all lending institutions must use in order to check for terrorists and racketeering. Some credit agencies do the search for the banks and it would show up in your credit report. If there's a match a bank will ask for addtional information just to make sure it's not the person they are lending to.
It's to help prevent wanted terrorists and big time criminals from getting additional money.
I for one am glad that us banks do it and it makes me feel good everyday to know that I am doing something to help search out terrorists.
Jenn524
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Re: Patriot Act
Posted by SandraLynn
Has anyone experienced this yet w/ closing on your home? A co worker just got charged $$$ for this, for looking her and her husband up----I am glad she told me, I want to be ahead of the ball when this (if) gets mentioned to us...
I would question why she is getting charged for it. It's a free search.
cluelessbride
Posted:
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Re: Patriot Act
I work with a man who has a very common name, let's say its John Miller. He has problems every time he goes to an airport. Not related to housing, but it's b/c of the Patriot Act. And he travels a lot for work.
He doesn't complain about the reasons behind it, but he does say he gets tired of telling people all the time 'I'm not the person you are looking for'.
