happyhoix
Distinguished Associate
Joined: Oct 7, 2011 7:22:42 GMT -5
Posts: 20,881
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Post by happyhoix on Oct 12, 2021 14:10:47 GMT -5
DH and I paid off our mortgage about ten years ago. Never had a second mortgage.
Today, DH got two phone calls back to back from different companies wanting to talk to him about the on line submission he made for a home refinance loan.
This smells like a scam, but I don’t know if people calling from the loan companies are trying to fish for someone interested in refinancing a loan, or if someone is using DH’s name to fraudulently get a home loan on our house?
Somehow they got DH’s cell phone number, and I assume they have his address. Don’t know if they have his SS number.
When the second person called, DH asked her how she got the loan application, and she said it was on online submission supposedly from DH.
If someone is trying to get a loan in DH’s name, what can we do to shut that down?
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TheOtherMe
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Joined: Dec 24, 2010 14:40:52 GMT -5
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Post by TheOtherMe on Oct 12, 2021 14:53:27 GMT -5
My suggestion is to freeze your credit immediately. Like now, with all 3 credit bureaus.
I did that a long time ago. It's now free to unfreeze and I've been able to do it easily when I needed to do that.
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raeoflyte
Senior Associate
Joined: Feb 3, 2011 15:43:53 GMT -5
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Post by raeoflyte on Oct 12, 2021 15:53:42 GMT -5
My suggestion is to freeze your credit immediately. Like now, with all 3 credit bureaus. I did that a long time ago. It's now free to unfreeze and I've been able to do it easily when I needed to do that. Yeah that
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CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
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Post by CCL on Oct 12, 2021 16:24:38 GMT -5
Check his (and your) credit report while you are at it.
Sounds like a scam to me, but better to check and freeze your credit.
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Deleted
Joined: Apr 25, 2024 16:32:24 GMT -5
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Post by Deleted on Oct 12, 2021 18:49:22 GMT -5
Check his (and your) credit report while you are at it. And you can do that for free through annualcreditreport.com- each of the 3 major bureaus once a year. I just check one of them periodically since I figure they mostly have the same stuff reported to all 3.
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Value Buy
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Post by Value Buy on Oct 12, 2021 21:05:13 GMT -5
Just got a letter in the mail from Unison today. They want to give us a check for $86,463 for equity in our home with no monthly payments and no interest charges. We can even use the money to upgrade the house so they can reap more profit at our expense. They are simply giving us the money so they can share in our growing equity in the future years........ Yeh, right. Wonder if they will pay any of the insurance or property taxes too Sounds almost like a reverse mortgage only different because they do not give you the real value of the house......
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Deleted
Joined: Apr 25, 2024 16:32:24 GMT -5
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Post by Deleted on Oct 14, 2021 6:09:57 GMT -5
Just got a letter in the mail from Unison today. They want to give us a check for $86,463 for equity in our home with no monthly payments and no interest charges. We can even use the money to upgrade the house so they can reap more profit at our expense. They are simply giving us the money so they can share in our growing equity in the future years........ Yeh, right. Wonder if they will pay any of the insurance or property taxes too Sounds almost like a reverse mortgage only different because they do not give you the real value of the house...... Actually, I think that's what it is. Sneaky wording, though- I didn't "get it" till your last sentence. Reverse mortgages don't give you the full value of the equity in your house because they take on the risk that you might stay in the house longer than anticipated or the value might not appreciate very much. And yes, they rake off a lot of expenses. I love their "you cannot lose your house" pitch. Stop paying the insurance and property taxes long enough, or fail to maintain it, and they'll foreclose. My mortgage balance was down to $67K a few months ago- no bank wants to refinance an amount that small because it can't be re-sold on the secondary market. BUT- one benevolent company mailed me an offer to loan me the $67K to pay it off PLUS $100K cash out, for only $134/month more than I'm paying now. The fine print: Interest rate would be 4.5% instead of my current 3%, and instead of my mortgage being paid off in 9 years it would start the clock ticking on a new 30-year mortgage. No, thanks.
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