It’s not that the company you applied with is selling your information; it’s that creditors are taking advantage of a federal law that allows companies to identify potential customers and market to them. The Federal Trade Commission (FTC) allows this because they want you to benefit from knowing your mortgage application options; however, if you’ve already chosen your lender and are tired of the constant stream of junk mail, here’s how to get off companies lists.
When you call this number or visit their site (www.optoutprescreen.com), you’ll be asked to provide some personal information such as phone number, name, Social Security number, and birth date. If you’re in a joint mortgage, all parties involved will have to opt-out and submit information. The site is secure (you can always double-check for the lock icon in your browser) and opting out of the offers doesn’t affect your credit or ability to apply for it. It usually takes about five days to have your request processed, but it can take up to 60 days to have the offers stop coming in. As an additional perk, if you ever change your mind, go back to the site and opt back in.
To reduce telemarketing calls, you can join the list by calling 1-888-382-1222 or visiting their site, www.donotcall.gov. After registering, you should start to get fewer calls within 31 days. Your number stays on the list for five years. However, this list will only stop some unwanted calls, and other telemarketers may find you through different business relationships.
The best way to cut down on unwanted mortgage callers is to find your loan officer early on. It’s never too early to reach out to a get a quote on a mortgage, and after you find your loan officer, you can immediately opt-out of any future phone calls.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Restrictions may apply, contact Rate for current rates and for more information. All information provided in this publication is for informational and educational purposes only, and in no way is any of the content contained herein to be construed as financial, investment, or legal advice or instruction. Rate, Inc. does not guarantee the quality, accuracy, completeness or timelines of the information in this publication. While efforts are made to verify the information provided, the information should not be assumed to be error free. Some information in the publication may have been provided by third parties and has not necessarily been verified by Rate, Inc. Rate, Inc. its affiliates and subsidiaries do not assume any liability for the information contained herein, be it direct, indirect, consequential, special, or exemplary, or other damages whatsoever and howsoever caused, arising out of or in connection with the use of this publication or in reliance on the information, including any personal or pecuniary loss, whether the action is in contract, tort (including negligence) or other tortious action. Rate does not provide tax advice. Please contact your tax adviser for any tax related questions.
