consumers beware! think twice before filling out that on-line mortgage application offering multiple quotes from multiple lenders. you may get more than you asked for. in fact, many popular mortgage web-sites are nothing more than flashy fronts for lead generation companies. lead companies who sell your personal information to others, sometimes to anyone who is willing to pay for it.
submit an online application at the wrong mortgage website and bam! – your personal information is now in the hands of a company who makes their money by selling it. obviously, the more times they sell your information the more money they make. it's a smart idea for
them, but it's not so good for you. the calls immediately start coming in and sometimes seem like they'll never stop. I've done it and trust me, by about the tenth call on the first day you start seriously contemplating changing your phone number.
in some cases it gets even worse. your personal information can be resold to hundreds of different companies over several years. it's like a virtual ongoing selling of your
information from one company who uses it, then resells to another company who
uses it, then resells it to another company and so forth. It can be an ongoing
nightmare of phone calls and solicitations. Worse yet, reports of identity
thefts are common among some of the less reputable lead generation web-sites
requiring you to fill out an online application for "free" service & quotes.
an alternative does exist for
mortgage consumers looking to shop rates or those who just have general
questions about purchasing a home or refinancing. Loan Officer NetworX. offers
mortgage consumers a safe, free & live online "shopping mall" of real licensed
mortgage companies and lenders in every state.
consumers can visit the site
at www.bestloanagentlive.com anytime day or night
for free live mortgage home loan & refinance consultations with a qualified loan
officer.
the system is 100% chat based
and doesn't require the consumer to fill out any online applications or download any software. best of all, the consumer remains virtually anonymous, just providing their first name to be connected directly to a live licensed loan officer.
Paul Croskrey, President
of Loan Officer NetworX, stated, "We wanted to eliminate the potential for
identify theft while still allowing consumers a choice of companies to work with
and shop. It's a safe haven; a place where consumers can anonymously get live
mortgage assistance directly from the source for free and without having to
worry about their personal information floating all over cyberspace. It's great
to offer consumers a free alternative to intrusive online applications and the
devastating results of applying at the wrong website."