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mortgage shopping: Shopping for mortgages in New Jersey - It's not like shopping for cars - 08/26/10 07:30 PM
Shop till you drop - this might not be wise advice when shopping for a mortgage
I wanted to bring up this topic because it still happens more than it should. I know we all want the best deals, but anyone can make general promises on the phone or on paper.
Shopping for a mortgage in New Jersey is not easy and it's not like shopping for a car. A car is a car, but ones service could be better. And one could argue that most mortgage companies should have the same interest rates and mortgage programs. … (15 comments)
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mortgage shopping: FHA Loans - USDA Loans - VA Loans - Conventional Loans - Which mortgage is best for you? - 03/28/10 09:44 AM
What is the best mortgage program for me?
When shopping for a mortgage, it can be confusing at times, depending on where you get your information. You should not always base your information on such terms as Expert, Mortgage Expert, FHA Expert, etc, etc. Just because someone says they are an Expert doesn't always mean that they are an expert. There are so many variables to what mortgages are good for a borrower.
How does a borrower determine what is good for them? What things should be important? Make sure ....
-- you understand your finances first, … (21 comments)
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mortgage shopping: Transparency in Real Estate/Mortgages - Interview your Realtor or Loan Officer - (Part 2 of 2) - 01/18/10 10:14 AM
Take the TIME to do your own INTERVIEW….
What is an interview? Wikipedia defines interview as a conversation between two or more people (the interviewer and the interviewee) where questions are asked by the interviewer to obtain information from the interviewee.
When you are shopping for a mortgage or for a realtor to help you sell your house or to help you buy a house, those that you talk to, should be interviewing you. Why should they be interviewing you? To get a feel for you, to understand your needs, and to get a feel for what your … (10 comments)
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mortgage shopping: What is Transparency?? Best Mortgage Rates/Online services/Real Estate Services - (Part 1 of 2) - 01/17/10 11:30 AM
Transparency in the Real Estate world… what does it truly mean?
How many of you in the last few years kept hearing real estate and mortgage professionals talk about transparency? Before we start, let's define a few types of transparency.
Transparency - as used in the humanities and in a social context more generally, implies openness, communication, and accountability.
The secondary meaning of transparency are - procedures that include open meetings, financial disclosure statements, the freedom of information legislation, budgetary review, audits, etc.
(These definitions come from Wikipedia)
Here is my major frustration … (15 comments)
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mortgage shopping: FHA Loan Tips & Mortgage Shopping Tips - Don't be caught with your pants down!!! - Part 1 of 2 - 01/03/10 08:41 AM
How many of you feel lost out there or even get help from someone such as a realtor letting you know that they can have their mortgage loan officer help you with your loan, yet you could still be lost. Not all referrals are good ones, just food for thought. I know this, because I have seen it happen more than it should, after a borrower comes to me after they had used someone else that was recommended. No, I am not perfect. But there is a lot more than just telling a borrower a rate and costs after … (50 comments)
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mortgage shopping: Give me the best deal & I want the best service !!!! - 09/13/08 10:57 AM
Are you a savvy shopper? Are you an educated shopper? How about sloppy? Cheap? Risky? Are you one that shops yourself right out of the market?
Are you one that jumps at any deal just because it says sale? Or when someone advertises "guarantee lowest rates" or "no fees"?
I have no problem with consumers looking for deals. Not at all, because I am one of them. I love bargains and steals. But how do you know when you have a deal that you have stolen at cost? What can it cost you short term or long term if it isn't such … (32 comments)
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mortgage shopping: Please hold the Ketchup & the Mustard.... just give me my rate!!!! - 08/17/08 10:18 AM
"I want that low rate and no fees that the other mortgage company is offering. And if you can't give it to me, then I'll just go to them or someone else."
I don't get those kind of mortgage shoppersthat much anymore. Most of my clients either come from a respected professional such as a realtor, or from a past client of mine, or from reading my blogs. I did wish I knew how to handle them better in the past though, but I guess with years of experience comes knowledge. But one thing that I never changed was that I … (22 comments)
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mortgage shopping: Good Faith Estimate - Good Faith Estimate - Good Faith Estimate -- Did you get one? - 06/11/08 07:34 PM
If you are a consumer looking to purchase or refinance, this is a must read. It could cost you thousands if you don't pay attention. This is not a threat, but a warning from someone that has almost 16 years of experience in the mortgage industry.
When shopping for a mortgage, no matter if you plan on using the person that you first spoke to, or you have spoken to 3 different lenders, you want to get a good faith estimate from everyone that you speak to. You also
So, you need to understand how to read a Good Faith … (30 comments)
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mortgage shopping: FHA or Convnetional loans -- The Mortgage Process - Part 3 of 3 - 02/22/08 12:11 AM
The mortgage process, whether you are applying for a FHA mortgage or a convnetional mortgage, the process should not be as difficult as it appears more times than none. After over 15 1/2 years in the mortgage industry, I just don't understand why some loan officers just don't learn the basics, instead of trying to sell rate and fees. They get so caught up in this, oversell the rate and undercut fees, that they lose sight of the service part of the mortgage process. And the basics of knowing what questions to ask.
As I mentioned in Part … (11 comments)
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mortgage shopping: Good Faith Estimate - Pre-Approved or Pre-Qualified -- The Mortgage Process - Part 2 of 3 - 02/20/08 12:03 PM
The good old Good Faith Estimate.... it could sometimes be your worst enemy, depending on the loan officer and how they actually fill it out.
It doesn't matter if you are applying for a FHA mortgage or a conventional mortgage, all good faith estimates should be accurate. I have seen many loan officers low ball their estimates not only on their points, but on the 3rd party charges. This can make shopping for a mortgage frustrating and more difficult.
I just had a client recently compare my good faith estimate with that of another lender. My title charges were … (13 comments)
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mortgage shopping: As a consumer .... why do you call who you call ??? - 02/01/08 11:42 PM
How many of you just pick who you want to do business with blindly? Do you do research? Were you referred to them? Do you go with the person that promises you the best rate or no costs? Someone that promises you the best price for your house? Or do you steer away from those that sound like a sales person....just going with that person that sounds sincere, genuine, yet knowledgeable.
In my 15 years in the mortgage business, I sometimes wonder how people choose those to help them when it comes to their financing options. What do you look for when … (14 comments)
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mortgage shopping: Good Faith Estimates - FHA or Conventional - What are the problems when shopping?? - 12/17/07 09:23 AM
Do you feel like you are sometimes back in time when shopping for a mortgage? Is it because you have now talked to 5 different lenders and nothing seems consistent? How is the communication level when shopping good faith estimates? Does that loan officer just give you want you think you want to hear?
Let's look at one major contributing issue when shopping for a mortgage. "If it's too good to be true, then it usually is." Do you think that you are a savvy shopper because you think you know what you are asking for? Do you think … (15 comments)
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mortgage shopping: Good Faith Estimate -- What to look for when shopping...... - 08/31/07 11:42 PM
When shopping for a mortgage, the general consumer can get very confused at times. Even if you have bought or refinanced several times in the past, it can still be confusing.
It doesn't matter if you are applying for a FHA, conventional, VA, or subprime mortgage. The Good Faith Estimate (GFE) is very critical when shopping for a mortgage. But you have to be careful because more than 75% of this piece of paper is an estimate. Some loan officers will cut corners just to make their total estimate look cheaper.
Three things that you want to look for when you first look … (26 comments)
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Jeff Belonger-The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Cherry Hill,
NJ
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Address: Cherry Hill New Jersey 08034 08002 08003, Haddon Heights New Jersey 08035, Haddonfield, NJ, 08033
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