Many offers after HELOC decline - are they on the up-and-up?

[Anonymous]

Wells Fargo declined my HELOC, which I really wasn't expecting to happen.  It appears they weighted an invalid collection - from Harvard Collections on a nonexistent Sprint bill - heavily enough even to outweigh my paying off a car loan I have with them.

Anyway, I'm now flooded with offers from all sorts of lenders I don't always know.  Most are for mortgage plus enough cash to cover CC and car, and they are ''pre-approved'' and have fabulous rates.

Has anyone had this experience, and if so, any good/bad results if an offer is followed up?  My preference is still for a HELOC, and I've not applied anywhere else.

EQ - 649 

[Lel]

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Snowfarmer wrote:

Wells Fargo declined my HELOC, which I really wasn't expecting to happen.  It appears they weighted an invalid collection - from Harvard Collections on a nonexistent Sprint bill - heavily enough even to outweigh my paying off a car loan I have with them.

Are you saying that they rejected an application for a HELOC, or that they cut the credit limit of your HELOC?

Anyway, I'm now flooded with offers from all sorts of lenders I don't always know.  Most are for mortgage plus enough cash to cover CC and car, and they are ''pre-approved'' and have fabulous rates.

When I opened a new HELOC last year, I also received a lot of unsolicited offers to refinance that HELOC into another product.  The same thing happened when I first bought my house, too.  The information about your mortgages are public record, and these companies troll the public records trying to find potential customers.  I haven't tried to contact any of them, but I'm always suspicious about these offers from generally unknown companies.

Has anyone had this experience, and if so, any good/bad results if an offer is followed up?  My preference is still for a HELOC, and I've not applied anywhere else.

EQ - 649 

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