St. Louis Mortgage Commentary

Another guest author comes aboard the St. Louis Real Estate Voice and we are pleased to have him join us. Chris Scheer is our "Residential Lending Expert," with 14 years of mortgage origination experience.  He has personally closed over $200,000,000 in mortgages.  Past experiences include origination, processing, underwriting and funding of conventional, FHA, VA and sub prime loans.

This is the first in a series of articles regarding the "Dark Side" of  the mortgage business. Be advised and be wise!

The Dark Side
by Chris Scheer

If you have read any of my previous writings you have seen where I have referenced someone giving in to the "Dark Side."  What is the "Dark Side" you ask?  Well the answer is the lender; you can pick them, who prey on the uneducated borrower.  They spend a lot of money on advertising, radio, print, television, even the Internet to attract the borrower with promises of a lower rate, lower payment, and no mortgage payment for 3 months, anything that they can say to make the phone ring.  Enticements such as a free cruise or vacation if you close your loan with their company.  Anything to get the borrower in the door and take advantage of them.

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