Opting Out - Mortgage process

[_GOPackGO_]

Question about "Opting out" before or when applying for a mortgage. When would be the best time to do it? A few days before applying or a few weeks? Thinking about applying the first week of April for a mortgage.  I’ve come across 2 websites to opt out on – Optoutprescreen.com and OptOUT.COM

Should I do both or would one be good enough? One is free and the other charges? Thanks in advance!

[llecs]

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@_GOPackGO_ wrote:

Question about "Opting out" before or when applying for a mortgage. When would be the best time to do it? A few days before applying or a few weeks? Thinking about applying the first week of April for a mortgage.  I’ve come across 2 websites to opt out on – Optoutprescreen.com and OptOUT.COM

Should I do both or would one be good enough? One is free and the other charges? Thanks in advance!

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Optout.com isn't what you want. They are using the words "optout" to promote some sort of credit monitoring service. Ignore it if you want to opt out.

Optoutprescreen is the site to use to opt in or out. I used it for DW and I. I recommend giving as much time as possible, at least weeks, prior to applying for the mortgage. I did it several months in advance.

[Cheryla18]

What is Opt out for?  Sorry I'm just getting my feet wet!!

Thanks
Cheryl

[llecs]

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@Cheryla18 wrote:

What is Opt out for?  Sorry I'm just getting my feet wet!!

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Opting out will slow and eliminate much of your junk mail, will limit preapprovals, and will stop the CRAs from selling your info to interested parties. On the latter and in terms of preparing for a mortgage, it will prevent CAs from buying your information. If you have a debt with the CA, the CA can decide whether or not they want to report. They'll pay $$$ to the CRA for access to your CR. Everytime there's a major change like a mortgage inquiry, then the CA can make the decision to report knowing your lender will likely require you to pay the debt in order to be approved. Opting out doesn't block CAs from reporting, but it does eliminate the decision making process by which to report.

[_GOPackGO_]

Thanks llecs ! I signed us up for Optoutprescreen and will give it a few weeks before proceeding forward with the mortgage.