Opting Out of Mortgage Solicitations
If you’ve applied for a mortgage, you likely noticed your mailbox, voicemail, and email filled up with competing offers from mortgage companies you didn’t even reach out to.
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.
1. Call 1-888-5-OPTOUT (1-888-567-8688)
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.
2. Join the National ‘Do Not Call’ registry list.
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.