closing costs: The Greatest Attribute of Active Rain is "Open Source" Education - 02/21/08 01:42 PM
I have learned many things on Active Rain and also had my thoughts confirmed here. That has some of the highest value of anything I can attribute to AR. Yes, the networking is phenomenal but if we were all just talking about American Idol or NASCAR we wouldn't be growing as … (10 comments)
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closing costs: How To Compare Mortgage Quotes - 11/17/07 12:22 PM
First let me show you how to get burned: 1. Believe the ads you see, hear and read. Especially the "no closing costs" ads or the "it's a racket, it's a rip-off" or "no one else can do what we do" ads. 2. Let someone else such as a real estate … (11 comments)
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closing costs: Bait And Switch!!! Wait, what do you mean it's my fault??? - 06/05/07 01:09 PM
Today we have a client who called for a no closing cost refi. Since everyone should know and we tell everyone the way that is done is by slightly raising the rate to cover those costs from something called Service Release Premium (or Yield Spread Premium on brokered loans) where we … (9 comments)
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closing costs: Who Can You Trust? - 03/09/07 01:49 PM
Evidence is mounting that the larger lenders seem to have been the most deceptive and are now suffering the greatest consequences. AS a small lender we know that our clients have been repeatedly victimized through being snared by bait and switch tactics from large national lenders who advertise regularly during shows … (3 comments)
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closing costs: (Un)Fair Lending Acts And Your Loss of Rights (Also Called Predatory Lending Laws) - 01/11/07 05:17 PM
Back in 2001 we changed directions. Originally we had been known as "Home of the American Dream". We enjoyed our reign as champion of purchases for homebuyers who could not find an affordable loan for which they could qualify. Following the challenge by President Bush to put 10,000,000 new families in … (5 comments)
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closing costs: Hard Money Basics - What, When, Why, and Where? - 12/27/06 10:22 AM
One of the more frequently asked questions from new investors and real estate agents is, "What is hard money?" The answer is much less mysterious than when and why to use hard money. Hard simply means it is tied to a "hard" asset such as real estate, gold, silver, etc. For … (4 comments)
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closing costs: If You Can't Beat Your Competition, Lie To Your Clients - 10/30/06 04:38 PM
Why does it seem this has become the motto of my own industry? If you live in one of the towns where JS from LF advertises heavily on the radio you've heard him say "Don't give a broker another penny of closing costs to refinance! It's a racket! It's a rip-off! … (1 comments)
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closing costs: But I HAVE to laugh! - 07/30/06 12:55 AM
"I am having trouble getting to the closing table with the current broker I went with (dont laugh), can you get me a 100% LTV on this Porterdale property, and how quickly can you close? The contract close date is (in less than 10 days). Can you close by this date? … (0 comments)
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closing costs: "Junk Fees" versus Compiled Fees - 07/28/06 02:06 PM
Okay - I got that comment to my other post about $15 for your current lender to fax a one page payoff to your new lender. It does, indeed, sound absorbitant. But let's look at it from a personal perspective. Let's say you have 800 clients you manage. Let's call you … (0 comments)
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closing costs: The Truth About "No Closing Cost" Loans - 07/24/06 06:37 PM
There is, in my town, a particularly obnoxious mortgage broker who uses phrases like, "no brainer", "rip-off", "racket" about his own industry. Well, I'll agree with him on one thing: He's hoping you're the no brainer because what he offers is not necessarily good and how he sells it is an … (8 comments)
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