Avoiding Mortgage Triggers, Part 2

Applied for a mortgage with a particular loan originator, only to receive phone calls and mail from companies you don't receognize? Here's what to look out for:

• "Bait and Switch": this scheme is run by companies who get business by luring consumers in with low rates... and then switching the loan product


• Solicitations that ***appear*** to be from your curent mortgage company... but aren't. Always confirm who you are speaking with. If in doubt, hang up and call back at your mortgage company's main number.
  
• Requests for PIN numbers, passwords, mother's maiden name, or your social security number.
  

If you believe that you have been the target of any abuse of the system, please report the incident to the Federal Trade Commission at 1-877-FTC-HELP.

Source: National Association of Mortgage Brokers