Filed under: money

No, that headline is not some pitch mold a recent junk newsletter. It’s something many of us need to consider when researching that new mortgage, which is increasingly being done online. whether you’re into re-financing your existing mortgage or buying a new home and need a new loan, do you know the pitfalls to look out for while performing that rigorous online search?

There are so many mortgage lenders (and sub-lenders and so on) that it can be quite overwhelming. The safety of your private knowledge is the largest concern here, since you volunteer much of that knowledge when you start filling out a mortgage application. whether you choose Washington Mutual or GMAC, those are reliable mortgage lenders. Bob’s Mortgage, however, should be a bit more scrutinized.

The DIY Network suggests the below tips when considering an online mortgage, and all of the below should be right at the top of your list as well. It’s

weird that surrendering some sensitive personal knowledge is better done on the phone (with a human) than online (automated). That’s reality, though. The protection of your personal knowledge is one of life’s little treasures, but it takes vigilant action, always.

• Look to see whether the mortgage company you are getting ready to hire has a physical address listed. (Often, that info is found on a page called “Contact Us” or on the “Home” page)
• Look for a telephone number and shout to speak to a real person
• Make certain you are comfortable with the loan consultant you will be working with on your online application
• Under no circumstances give out your Social protection Number in an online design.
• Protect knowledge used in identity theft by only giving it out in person or via telephone

 

Read | Permalink | Email this | Linking Blogs | Comments

Orginal post by Brian White