Buying August 7, 2023

Important Tip when Applying for a Mortgage

Shared by a local lender who takes great care of their clients!!

Go to before pulling your credit. The reason is so that you might be inundated with phone calls, texts, and emails from every mortgage company on the planet when pulling your credit.

If you forget to do this FIRST, it cannot be reversed. Under the Fair Credit Reporting Act, credit repositories (Transunion, Equifax, and Experian) are allowed to sell consumer names on credit lists used by credit card companies, insurance companies, mortgage companies, and debt collectors,

When you authorize the lender to pull credit if the consumer hasn’t “opted out”, their mortgage inquiry, along with their contact information, it will be instantly sold to other mortgage companies as “trigger leads”, and the tsunami of phone calls, emails, and text messages to the consumer begins.
Let’s face it, people don’t always know in advance when they will be in the market for a mortgage.

Thankfully, this was shared so that you can be proactive and educate our databases to do the following NOW so you will not have to worry about this when you apply for a mortgage.
1) Go to .
2) File electronically to opt out from receiving “firm offers” for 5 years.
3) It’s a good idea to follow up with the electronic opt-out with a permanent opt-out.

To do this, you should complete and print the Permanent Opt-Out Election Form which is on the website and mail it in. (Do this, and you will never have to think about it again.)
4) You will always be able to opt back in if you want to receive offers again.

** It’s important to note that it takes 5 days after the consumer has requested to opt out before the bureaus are notified of the request.