The Internet is a great source of information and makes it easy to compare products, services and prices.
But you can encounter a hidden risk when you evaluate competing mortgage loans on-line: a lot of the mortgage websites you visit really are secret “stealth” sites that exist solely to generate mortgage leads.
Mortgage “stealth sites” abound on the Internet. The companies that create them are lead aggregators, not lenders. They make their money by selling loan leads – by selling you!
These companies through their web sites get you to divulge personal, private data and then they sell your information (including name, phone number and email address) to the highest bidder.
Before you know it, you’ve become a “mortgage lead” and are being pursued by any number of hungry loan outfits.
Your personal data might end up being sold again and again. There have been past horror stories of unauthorized credit checks and endless rounds of spamming.
Here’s one site that truly does enable you to compare loans without surrendering personal information. This site is very helpful for home purchases and re-financings: