unfreezing credit while refinancing mortgage has me “un”easy
Hi Terry. We want to refinance our mortgage to a lower rate. However, that means unfreezing our credit for an unspecified amount of time. We were told that we because my husband is self employed it could be at least a couple months to get the refi completed and that we need to leave it unfrozen until the whole process is completed. I am uneasy leaving our credit unfrozen indefinitely with identity theft running rampant but hate to miss the opportunity to refi. Could you please advise? Thank you.
Terry Says
Do the refi. Once you decide on the lender you will use, unfreeze the credit report for a short period of time so they can get the info they need. It doesn’t stay unfrozen while you shop. Just got to CreditKarma.com and get your credit score to apply. A good lender will make an initial decision based on that, and confirm with your credit report quickly. If someone is telling you that it must stay open for a few months don’t work with them!!! Go to Rocket Mortgage or Guaranteed Rate and get quick action before rates rise.
