While researching rates and the possibilitiy of refinancing my mortqage, I called my current mortgage holder, Chase of JPMorgan Chase Bank, to see what they may offer. I liked what I was hearing but wasn't done getting rates and costs when suddenly the mortgage broker, Chris Latsko, suddenly started reading off my credit report to me. I asked him if he had pulled my credit report. He said he already had the information and it was no big deal. I told him I didnt want it pulled yet because I had just done some other financing and I didn't want to hurt my score anymore.
He just laughed went on to tell me it looked fine and asked if the information was correct. I told him it was not but also repeated I did not want this to happen. At the end of the call he asked me to send him $250 to get started. I told him no until I could get a true amount of my current home value. I was not going to apply with anyone or have my dredit report pulled until I knew for sure that the value of my home would work with the refinance needs I was looking into. But it was too late with him, he pulled the report anyway.
When I got a notice from Chase that my credit report had been pulled on 02/01, I called the manager Brain, and told him my credit report was pulled without my permission. On the letter from Chase was "factors that adversly affect your credit score" with NUMBER OF INQUIRIES as one of the problems.
Brain said that was impossible because they never pull reports without getting permission first. He became angry and told me I was wrong and knew nothing about the business of morgages and or how the system works.
I was a banker and financial advisor for over 20 years. He may have his standard lines he throws out, but I was deep in the businees for years and know differenly. Yes I can get a mortgage almost anywhere but...
My credit score has now dropped to a point where my rates will rise and cost will go up and points will be added. If go with them, they will overlook the credit score. I got a letter a saying they will add a. 5 point if I go with them now.
To go with someone else now will cost me dearly and the amont and increased rates works out to about $1800 a year more and over 30 years that's $54,000 all because some guy had the information to pull the trigger and he did.
Trust no one and be clear right up front you do not want your credit report pulled until you have gotten all your questions answered.
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