What is a Trigger lead? and How do I avoid it?

[Jay Hurst]

Have you ever had your credit pulled for a mortgage application and within a few hours your phone is blowing up with calls and text with random mortgage companies reaching out? Most of you probably have and that is what a is called a trigger lead.

The credit bureaus (TransUnion, Experian, and Equifax) sell the fact that there has been a mortgage related credit pull to bottom feeder boiler house type lending operations. And not just one but often 5-10 or even more by the same lead. This results in an avalanche of unsolicited calls and texts. 

You may think ohh well more options? Well, the problem with that is that all the lender knows is that you have a credit application pending with some very basic information. They do not know the entire story, so the rates and terms offered are just simply teaser rates to make you interact with them. They are not actually accurate for your situation.

How can you avoid this? Well, you can put your self on the federal opt out list here:   https://www.optoutprescreen.com/

This might be great time to do it as if you have purchased any property within 23 or 24 you likely will be in the money to refi already or soon.