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credit score: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - Part Four - 04/17/09 11:17 AM
During the last three weeks I’ve discussed how your property location, credit score, your specific loan scenario, timing, and games sales people play can significantly impact the rate you pay for your loan. If you’ve missed any of the last three parts you can view them at PART I, PART II, and PART III.
Games Sales People Play, is such a large topic itself, I had to break it up into two parts! The reason that it’s even possible to play games with you and your rate is because the mortgage lending process is complicated – plain and simple. In addition, … (3 comments)
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credit score: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - Part Three - 04/09/09 10:40 AM
During the last two weeks I’ve discussed how your property location, credit score, your specific loan scenario, and timing can significantly impact the rate you pay for your loan. If you’ve missed either or both of the last two parts you can view them at PART I, and PART II.
Now we’ve arrived at the part I’m most passionate about - Games sales people play to bamboozle you. If you have read the previous sections you should honestly be saying to yourself – “hey, there is absolutely ZERO chance the mortgage guy I talked to on the telephone gave me a … (1 comments)
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credit score: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - Part Two - 03/29/09 03:49 PM
“Mike, I keep hearing about low 4.5% rates, but every time I call a lender the rate they quote is higher! What’s up?” How Your Rate Is Determined, Part 2
Last week we discussed how your location and your credit score can impact the interest rate you pay. This week we look at two more factors, both of which can be even more critical that the first two.
Specific Loan Scenario – So, we’ve already adjusted your rate for where you live and what your credit score is. Now, let’s get into the more complex “hits” and “add ons” and look … (2 comments)
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credit score: Why The Lender On The Phone Is Not Telling You The Truth About The Rates - 03/26/09 01:24 AM
“Mike, I keep hearing about low 4.5% rates, but every time I call a lender the rate they quote is higher! What’s up?”
Do you want to know how lenders price your loan? Want to know about the little known details that might cost you thousands of dollars? Read on, and I'll explain...
The last couple of weeks we’ve been fielding tons of requests for rate quotes as homeowners shop around for the “best” rate to refinance their home loans. One particular caller spilled out his frustrations to me over the conflicting information he’s been getting as he calls one lender … (0 comments)
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credit score: What Is Worse - Personal Bankruptcy Or Foreclosure? - 01/12/09 05:18 PM
A friend forwarded me a story posted by Diana Olick with CNBC titled "What Is Worse - Personal Bankruptcy Or Foreclosure?"
The full article can be read HERE
I thought Diana's post had some valid points but there were some important details missing - so I emailed her. I'm not sure I should have done that, but I've already hit the Send button in Outlook so it's too late to take back my rant.
Because my comments are now in the public domain I figured I may as well share them with everyone else -
"Diana, I read your post with … (4 comments)
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credit score: Foreclosures, Short Sales and Bankruptcy: Buzzwords for 2008 - 04/15/08 04:12 PM
2008 is going to be a tough year for many homeowners, particularly those in California. While not declining nearly as much there are also some trouble spots in Idaho (Coeur d'Alene area), and Washington (Seattle and Vancouver areas). After 20 years of relatively low interest rates and high home appreciation rates the market has reversed itself making it very difficult for you to supplement your income with equity withdrawals from your home.
A lot has been said in the media about how we came to be stuck in this situation or who is to blame for it. For me this "issue" is … (4 comments)
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Michael Mullin MLO 11911 ~ Banker/Broker FHA, VA, USDA, Conventional Loans
Spokane,
WA
More about me…
First Priority Financial, helping home owners in WA and CA
Address: 5978 Hwy 291, Suite 3, Nine Mile Falls, WA, 99026
Office Phone: (509) 252-9151
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