On-line Banking prevents from re-financing mortgage?

Question

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?

Answer 1

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...

Answer 2

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

Answer 3

initially, the point is to no longer avert corruption. As others have stated, the point is to guard corruption. 2d, the biggest companies of all (inner maximum mandatory banks) are people who engineered the disaster in the 1st place, with the intention to consolidate greater means and purchase up smaller banks and hard components (at fire-sale expenses), with nonexistent counterfeit provided to them by using Congress and the Federal Reserve in this way of clean tests to be paid lower back by using the taxpayers. third, they have each and every purpose of collapsing the greenback. it quite is the entire factor.

Answer 4

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.

Answer 5

Nonsense. If the bill is paid then it is paid.