Archive for the ‘Mortgage Tips’ Category

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Three Easy Steps to a Better Mortgage

Saturday, June 7th, 2008

Have you ever compared mortgage deals from lender to lender? What a pain! Factor in a salesperson with a “car sales” mentality and you can go crazy trying to decide which deal is really the best. Having worked in the mortgage business for quite some time I thought I would share with you the easiest way to figure out who is really offering the best deal. This method is good for 90% of the people in the home market today.

 

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Lending Tree Tips….

Saturday, June 7th, 2008

OK, you have just filled out the online mortgage application, now what?. Your name will be now given to four different lenders who match up well with your specific needs. You are now a “lead”.

 

As a loan officer who used to field these type of leads, I have found that most people will commit to the first person that calls them. In fact the leading lead aggregator reports that up to 55% of their clients will buy from the first lender that calls them.

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Home Mortgages for People with Bad Credit

Saturday, June 7th, 2008

 

 

Lendfast.com – Home Mortgages for People with Bad Credit – Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan.

 

 The borrower’s income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. It’s important to have a mortgage professional in your corner that has a keen eye for solutions to improving credit scores in an effort to get the best interest rate possible. (more…)

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3 Tips on How to Buy Foreclosures for New Investors

Saturday, June 7th, 2008

National home sales rose 2.9% in February giving hope to the nationwide slump in house sales. Savvy home buyers are beginning to realize that one man’s misfortune can be another man’s fortune. Foreclosed homes are the main force driving this welcome birth in new home sales. Some markets like Las Vegas are reporting that foreclosed homes make up as much as 40% of reported sales in the real estate market. (more…)

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Top Ten Dirty Lender Tricks

Sunday, March 16th, 2008
 
1. This Isn’t the Right Loan for You.

You’ve found your dream house and now all you need is a loan. Hold everything, even if you’ve been through this drill before. When interest rates are rising and lenders’ business is slowing down, they often get desperate. The result:

 

You may be pitched a loan that’s totally inappropriate for your needs. “A loan is a product, and just as in any business where you make money by selling a product, [loan officers] overreach in their sales pitches,” says Michael McCann, a California attorney specializing in banking law.


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