My current mortgage is held by Rocket since a refinance in 2020. We moved from a 30 year (25 left) at about 4.75 to an 15 year at 2.5.

I get multiple sales calls a month from them asking for permission to do a soft pull to “save me money on my mortgage”. I ask them how they propose to save me money given my current rate is better than what they can do now and i have zero desire to lengthen my term or pull cash out.

Of course they don’t answer the question and just keep pushing for a soft pull “so we can check and see”. Of course I ask them if rates are 2.5% or lower on a 15 year for even the most perfect credit, and they admit no.

Eventually I just have to cut them off and hang up.

Why do they do this? Are people actually falling for it? Or am I the dumb one and missing something?

Why do you answer their calls? Why don't you block their number(s)? If there is need to reach you, they can do so by email or snail mail.

quote:

keep pushing for a soft pull

^^^^^^^^^^^^^
Tell them you like a hard pull, that soft pulls just don't get you off. With that you probably won't need to block the calls. After all it is ROCKET MORTGAGE. Like the song:

The mortgage providers are getting desperate.

quote:

Originally posted by parabellum:
Why do you answer their calls? Why don't you block their number(s)? If there is need to reach you, they can do so by email or snail mail.

I usually ignore unknown numbers but occasionally I get curious, I suppose.


I also suppose I’m not *bothered so much*, as if I was I wouldn’t even answer at all, and wouldn’t be patient enough to tell them no 5 times before hanging up, but just wondering who the heck is saying yes??

They called again today after I talked with the first fellow… a fellow who said he’d make a note that I’m not interested. I didn’t interact with the second fellow but instead just hung up when he ID’d himself.

But seriously, who would possibly entertain a refi in this situation?? I guess if you wanted to take equity out but it’s still a terrible time with rates up.

quote:

I usually ignore unknown numbers but occasionally I get curious, I suppose.

^^^^^^^^^^^^^^
They are counting on that. If it is important they can leave a voice mail. I am very busy and am irritated dealing with that kind of nonsense. Each to his own I guess.

I tell them I know their number, if I need anything, I'll call them.

quote:

Originally posted by thumperfbc:
But seriously, who would possibly entertain a refi in this situation?? I guess if you wanted to take equity out but it’s still a terrible time with rates up.

It's the same idea used by spammers. Send out 900,000 emails, get a response rate of 0.5%, and you've caught 4500 fish.

ABC

Always be closing

They are doing this because business is drying up. Rates are climbing so loan slingers are trying to coerce folks into refi’s. Writing the loans makes them cash. Many of them are fucked because most folks who have decent credit, etc, refi’d when rates were low. Now they are harassing existing customers trying to make a buck. Fuck em. Set your phone to only allow calls that are programmed into your contact list on it. Watch all the spam calls end. I wouldn’t worry about it anyway. They may very well do like many lenders do and sell it off to someone else before too long.

quote:

I usually ignore unknown numbers but occasionally I get curious, I suppose.

I'm not even curious. Anybody not on my contact list is not answered, period.

quote:

Originally posted by egregore:

quote:

I usually ignore unknown numbers but occasionally I get curious, I suppose.

I'm not even curious. Anybody not on my contact list is not answered, period.

^ This!!!!!!!

quote:

Originally posted by bryan11:
The mortgage providers are getting desperate.

And they're hoping you're stupid and/or desperate.


They're fishing for someone who's dumb enough to be willing to refinance, at a higher interest rate and for a longer term, because they want to "save money" by slightly lowering their monthly payment.

And the sad truth is, for someone with minimal financial common sense who's living paycheck-to-paycheck because they're trying to live outside their means, that little bit of extra monthly breathing room from a lower house payment can be an enticing offer, even though the reality is that it's going to cost them significantly more overall in the long run.

Rocket Mortgage isn't even my carrier anymore and they can't stop sending me texts and emails.

That's why junk rules for email were created.

quote:

Originally posted by thumperfbc:

I usually ignore unknown numbers but occasionally I get curious, I suppose.

Learn to be uncurious. If these hacks had something worth selling, people would be coming to them, they wouldn’t be cold calling and feeding you a line of bull trying to convince you to buy.

I'll give them props for calling and asking, despite it being spam. Credit providers do soft queries all of the time, even ones you don't have a business relationship with. Just pulled my once a year freebie credit report the other day, and was shocked to see all the companies that ran my information.

quote:

Originally posted by SparkyWho:
I'll give them props for calling and asking, despite it being spam. Credit providers do soft queries all of the time, even ones you don't have a business relationship with. Just pulled my once a year freebie credit report the other day, and was shocked to see all the companies that ran my information.

Screw them. Put a credit freeze on your file with the three credit bureaus.

I used to get calls from mortgage companies all the time. They would always tell me they could get me a better rate than I had on my mortgage.
I would say you can get me 0% and they would say no one does that. I would tell them I do not have a mortgage on my home I own it. They would say that was impossible.

They would ask How old was I when I paid it off and I would tell them 33, that's when they hung up on me. This was back in the early 2000.
After a couple of years they stopped calling.

Now every one wants to sell my house for me or they just want to buy it.

How about just tell them to stop calling you.

I kept getting refi calls from my lender. I asked them to remove me from the list and the calls stopped.

Have you tried this yet?

https://www.rocketmortgage.com/opt-out