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Mayberry40
Joined: 08 Feb 2010
Posts: 5
Location: Central Ohio
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| Posted: Mon Feb 08, 2010 11:13 pm Post subject: Online mortage loans |
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| When I inquire on an online refinancing loan on my single home mortage hurt me in anyway....ie my credit report? |
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JPowell
Joined: 20 Jan 2010
Posts: 103
Location: PA
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| Posted: Mon Feb 08, 2010 11:18 pm Post subject: |
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If you get any sort of message or disclosure that says that they will check your credit, then yes, there is a good chance that it will effect your credit report.
Every time someone pulls your CR you get an inquiry on your report which can lower your score some. It is possible for companies to do a soft pull, but most do hard unless you are already doing business with them (like a credit card company you have a card with checking to see how your credit looks so they can give you a credit line increase). |
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Mayberry40
Joined: 08 Feb 2010
Posts: 5
Location: Central Ohio
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| Posted: Mon Feb 08, 2010 11:32 pm Post subject: |
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Thanx
I currently have a home loan with Chase. I contacted them to inquire on a lower interest loan and was given a good rate.........after looking at some consumer complaints on line I found a number of complaints about Chase stating Chase would take the $750 fee to refinance then they were turned down for the refinance loan and the $750 not refunded. Now I dont know where to look for my refinance loan. |
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JPowell
Joined: 20 Jan 2010
Posts: 103
Location: PA
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| Posted: Mon Feb 08, 2010 11:48 pm Post subject: |
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Oh wow, that would be really terrible! Do you have any reason to think that your credit might make them change their mind and stick you in that sort of situation?
I haven't personally dealt which Chase for anything at all so I can't give any insight into the company... Were those complaints recent though? The internet is a great source of info, but it's not always up to date haha |
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Mayberry40
Joined: 08 Feb 2010
Posts: 5
Location: Central Ohio
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| Posted: Mon Feb 08, 2010 11:58 pm Post subject: |
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| The complaints were dated from 6-09 thru around 10-09. Most of the persons filing the complaints said they had exellent credit reports. I don't know my credit report "number" but I can say I'm 50 years old...married and have never been in financial trouble so I assume I have a good report. It just concerns me that the persons making the complaints have good credit but they are being turned down and not refunded their $750. |
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JPowell
Joined: 20 Jan 2010
Posts: 103
Location: PA
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| Posted: Tue Feb 09, 2010 12:01 am Post subject: |
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Mayberry40 wrote: The complaints were dated from 6-09 thru around 10-09. Most of the persons filing the complaints said they had exellent credit reports. I don't know my credit report "number" but I can say I'm 50 years old...married and have never been in financial trouble so I assume I have a good report. It just concerns me that the persons making the complaints have good credit but they are being turned down and not refunded their $750.
Yeah, that is awfully recent... What a horrible thing for a bank to do to it's customers, then again, as we've seen they clearly don't care about what they do to people or the economy. |
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Mon Feb 15, 2010 1:23 pm Post subject: |
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| The bottom line on Chase is that you are going to over-pay. If you go to their web site and check the rates, you will pay a higher rate PLUS POINTS vs what you can get through a broker like me or one of the other professionals on this site. |
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joe1
Joined: 11 Nov 2008
Posts: 20
Location: California
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| Posted: Wed Apr 28, 2010 7:19 pm Post subject: |
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| It will only hurt you if they pull your credit. |
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