If you've recently applied for a mortgage or refinanced your home loan, you might have noticed something unexpected: a sudden spike in unsolicited calls from telemarketers, loan officers, and other companies trying to sell you services. These calls can be frustrating, especially when you're already dealing with the complexities of securing a mortgage.
Why does this happen, and what can you do about it? The key tool to protect yourself from these relentless phone calls is DoNotCall.gov. Here's how it works and how to prevent your number from being inundated with calls after a credit pull for a mortgage.
Why Are You Getting So Many Calls?
When you apply for a mortgage, the broker or lender typically performs a hard credit inquiry (also known as a credit pull) to assess your financial situation. Unfortunately, this process can sometimes trigger a series of unwanted calls, even though you're already dealing with your primary contact.
Here's why it happens:
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Your Credit Information is Shared: Some lenders (not BoniFi) often sell or share your credit information with other companies in a process known as "prescreening." This is how many telemarketing firms get access to your details and start calling you about products or services they think you're eligible for.
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Mortgage Data Resellers: After your credit is pulled, companies that specialize in gathering and selling consumer data may add your contact information to their marketing lists.
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Automatic Marketing Programs: Many companies use automated systems to target people who have recently undergone significant financial events, like applying for a mortgage. Unfortunately, this means you're likely to get calls for everything from insurance to credit card offers.
How DoNotCall.gov Can Help
DoNotCall.gov is a free, easy-to-use national registry that allows you to opt out of most telemarketing calls. Here's how it can help you reduce the unwanted calls after a mortgage credit pull:
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Reduce Telemarketing Calls: By registering your phone number with DoNotCall.gov, telemarketers are legally required to avoid contacting you. While there are exceptions, such as calls from charities, political organizations, or companies with which you have an existing business relationship, the majority of unsolicited calls should stop.
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Stop Mortgage-Related Marketing: After applying for a mortgage, it's common to receive calls from other lenders trying to offer you competitive rates. Registering your number with DoNotCall.gov will significantly reduce these types of calls, especially if you don’t wish to hear about refinancing offers from other lenders.
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Enforce Your Rights: If you continue to receive unwanted calls after registering with the National Do Not Call Registry, you have the legal right to file a complaint, which may lead to fines for the companies that persist in calling.
How to Register for DoNotCall.gov
Here’s how you can add your number to the National Do Not Call Registry:
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Visit the Website: Go to donotcall.gov
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Sign Up: Click on “Register Your Phone” to begin the registration process. You’ll need to provide your phone number and email address.
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Confirm Your Number: Once you’ve registered, you’ll receive an email asking you to confirm your registration. Be sure to click the link in that email to finalize the process.
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Wait for 31 Days: After registering, most telemarketing calls should stop within 31 days. If you’re still receiving calls after that, you can file a complaint on the same website.
Additional Tips to Avoid Unwanted Calls
While DoNotCall.gov can help, here are some additional steps you can take to protect yourself from incessant calls:
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Ask Your Lender to Limit Sharing Your Information: When applying for a mortgage, ask your lender to limit how they share your credit report with other companies. This can reduce the number of third-party marketers who get access to your information. Here at BoniFi, we do not share your information and even advise you to register for the Do Not Call list.
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Use Call Blockers: Consider using call-blocking apps or services. Many phone carriers and apps, such as Nomorobo or Hiya, can block or screen calls from telemarketers.
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Screen Your Calls: If you're unsure about a call, let it go to voicemail. Many telemarketers won't leave a message, and if it’s an important call, the caller will usually leave a detailed voicemail.
Conclusion
While receiving a mortgage-related credit pull can sometimes lead to an influx of unsolicited calls, registering your number on DoNotCall.gov is one of the most effective ways to regain control over your phone and avoid endless interruptions. By following these simple steps and staying proactive about your privacy, you can enjoy peace of mind as you move forward with your mortgage process without being bombarded by calls you don’t want.
Remember, the Do Not Call Registry is a free service, and it’s a small effort that can save you from a lot of frustration. Happy home buying, and don’t forget to protect your privacy!
