Most savvy consumers these days are taking steps to ensure their privacy and avoid unsolicited calls or a mailbox full of junk. There are laws in place that give us a bit of control when it comes to how our information is being used and by whom. The problem is these laws can only help if we know how to protect ourselves. Most understand that unless they “opt out” after a transaction, many companies will sell their information to other businesses.
Trigger Leads
One of the most alarming of these scenarios is what the three main credit bureaus are doing. When you apply for a home loan with a carefully chosen mortgage company, your credit will need to be checked to determine precisely what interest rate you will qualify for. Once your credit is pulled from one or more of the three credit bureaus; Experian, Equifax and TransUnion, the bureaus know that you are in the market for a mortgage.
Without your permission, these bureaus are using the initial inquiry as a trigger, and are turning around and selling your detailed information to companies who are in direct competition with the mortgage company you chose to work with. These competitors pay for...