As you embark on the exciting journey of buying a new home, it’s essential to understand the mortgage application process and how it can open the door to unsolicited credit offers. However, don’t worry, I’m here to guide you through it and offer valuable advice on how to protect yourselves from these solicitations.
When you apply for a mortgage or a credit card, your personal information may be sold by the credit bureaus to lenders and other organizations. While efforts are being made by consumer watchdog groups to limit or eliminate this practice, the credit bureaus claim to be following regulations.
To safeguard your privacy and avoid unwanted credit offers, I suggest taking a proactive approach. First and foremost, please be assured that we, as your trusted real estate advisors, do not provide or sell your information to any third-party companies. Your privacy is a top priority for us.
Secondly, I highly recommend opting out of receiving offers from the “trigger list.” You can easily do this by visiting OptOutPrescreen.com. By opting out, you can prevent receiving credit offers for the next five years, or you can even choose to opt-out permanently if you prefer. Should you change your mind in the future, you can also opt-in at any time.
Keep in mind that the opt-out requests become effective with major credit bureaus, such as Equifax, Experian, Innovis, and TransUnion, within five days of your request. To ensure the best protection, make sure to complete the opt-out process at least five days before you expect your credit to be pulled, which often occurs during the Pre-Approval or Loan Application process.
My goal is to make your home buying experience as smooth and stress-free as possible. By being proactive and taking these steps, you can focus on finding your dream home without unnecessary distractions. If you have any questions or concerns about the mortgage application process or anything else related to your home buying journey, please don’t hesitate to reach out. I’m here to support you every step of the way!
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