Information others can see on a Mortgage App

[Ouch]

I was wondering what information creditors and/or CA's will see if I fill out a mortgage application. My odds for approval aren't great, but the property is based on income qualifications in a great location, so I would like to give it a try. I just wonder if it will bring everyone out of the woodwork to pursue me more aggressively. Thanks in advance for all of your help.

[firstsource]

I would suggest that you ask the Loan Officer you work with to do you a favor (and it is actually good for the LO also)

Ask him to take your contact information off of the loan application before it is run. I do this most of the time - this means, where you work, your phone numbers, your email address. The only thing that they can not take off is the address where you get your bills.

The reason that I do this is that there is something called a "trigger lead". This is a lead that mortgage people can buy - it tells the mortgage person that you are looking to purchase a home.

Charles

[Ouch]

Thanks for the info. I appreciate it. Will collectors still be able to see income and other information included on a mortgage app?

[firstsource]

The income listed on the ap is sent. A few years ago I noticed that on a credit report from a company I was using listed the income. I have not seen it listed lately, but know that everything on the ap is transmitted.

Note on who mortgage companies get their credit reports from:

The bureaus (TU,EX,EQ) sell the raw data to wholesalers that put it into usable sense. Those wholesalers then sell the info to companies that we buy reports from. This is not in every case, but generally that is the rule. And EVERYONE makes money on what they do. That is why credit report fees are different from everyone.

Charles