I was speaking to a colleague the other day about his frustrations in refinancing his home loan. He has a decent loan but wanted to keep tabs on the market to see if and when it made sense to refinance his mortgage. He filled out some online forms, knowing that doing so would result in calls to his phone. He didn’t mind though, as he figured it would be an easy way for him to stay informed of rates.
He regretted his decision within a few hours of filling out the first form. He got multiple calls the same day, all from lenders. Also, he didn’t realize that in filling out the lead generation forms, he authorized lenders to run credit checks on him. So he had close to a dozen credit inquires made about him in one day, which lowered his credit score. He was very upset.
If you want to keep tabs on mortgage rates, you can use a service like Optincall to have vendors contact you. With Optincall, you control how many calls you receive per month and when those calls are received. More importantly, the lenders can’t check your credit score – they don’t have your contact information because they are connected with you by Optincall. You can ask about rates and if you like what you hear and to whom you are speaking, you can give them your contact information and permit them to check your credit. To learn more, visit www.optincall.com.