On-line Banking prevents from re-financing mortgage?
I heard that someone couldn’t refinance her mortgage, because she pays her bills on-line rather than the old fashioned way with paper checks. Is this true? Will I be prevented from refinancing my house, because I pay all bills through on-line banking?
Tagged with: mortgage • paper checks
Filed under: mortgage financing
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Doesn’t sound right. As stated above, if your payments are showing up on your credit report, you are ok. Also, even if they are not (some lenders don’t report, very few, but some) I can’t see the difference in today’s society between a canceled check and her statements verifying her payments.
She needs to find a local mortgage broker who she knows. They should be able to give her a better explanation - sounds like there is more to this story than what you are saying above.
Best of Luck!
Joe…
lol no, as long as the bills are showing up on your credit as being paid on time thats all that matters, but that is a pretty rediculous thought.
Nonsense. If the bill is paid then it is paid.
Sounds like someone was embarrassed to tell you the real reason. Most people pay on line so they are never late resulting in better credit, and an easier refi