Shopping for a mortgage? Good for you! Most originators in today's marketplace are order takers or paper processors and offer you little or no value. They operate as functionaries, and as such, are in your way to affordable mortgage terms. If you are going down the path to find the absolute best mortgage terms, good luck! You'll probably end up with the least competent loan originator who can ultimate costs you thousands of dollars.
READ: You'll NEVER get the lowest rate on your mortgage.
I know why you, the California mortgage shopper, are doing this. Mortgage loan originators in California are as plentiful as dead jellyfish on the beach in August (and about as useful, too). Be careful, though! These little useless lumps can sting you even though they appear to be dead.
READ: How Mortgage Originators Lie to Borrowers
If you want a bit of advice from a 13 year veteran of mortgage loan origination with 6 years of financial planning experience, start by reading this series:
Neatness Counts When you Want a Home Loan
Finding Your Jungle Guide-Part One
Finding Your Jungle Guide-Part Two
This award-winning series is one of the most read on the internet in April. It reveals how to "work the originators" so you , the consumer, can laugh all the way to the bank. In this series, I tell you how to prepare a loan package, get names of credible mortgage professionals, provide them all of the information to get a binding mortgage loan commitment, and shop them against each other.
Then...there's the different approach. The one that understands that you, the average California homeowner might just be sitting on a million dollars or more in unrealized assets. You don't realize it because you've been a victim of "Depression Era" thinking. You can't help it because that mindset was passed down to you by your grandparents. That thinking is extremely dangerous to your financial well-being. Your grandparents were protected by the "New Deal" policies that have been repealed; you, my friends, are not.
You are, financially, as naked as a sunbather on BLACK'S BEACH IN LA JOLLA
LISTEN TO: Grandpa Economics
The different approach. One that is uncomfortable, hard to swallow yet so easy to understand. It starts with a retirement plan, encompasses ways to fund your children's education, minimizes your taxes so the government is your partner instead of your master, and ends up with you having piles of money...liquid wealth..the kind you can spend when you are not working anymore.
So, keep shopping to save the $695 underwriting fee. If you call enough mindless jellyfish, you'll eventualy find one that won't sting you. I'm not going to play the poverty mentality game with you. I'll give you a financial plan that benefits from my decades of experience in financial advisory, causes you to rethink your game plan, and makes you move your ASSets, so...
You can become a millionaire.
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