mortgage loans: The Motrgage Loan Mess Around
- 03/13/10 02:55 PM
Here's the scoop. I have a client who has put in a contract to buy a $350,000 home. He's putting down $150,000 plus the closing costs, thus borrowing $200,000. The home he and his wife currently live in is in a nearby city, it's paid for and they don't want to sell it. They're buying the new home to live in...in Texas talk, to be their new "homestead." The underwriting of this loan has been continuing for just shy of a month. And I know from experience that this kind of foolishness is standard these days when it comes to home … (4 comments)
mortgage loans: PLEASE WATCH THIS VIDEO
- 02/13/10 02:32 AM
The other day I wrote a blog about banks and their mortgage loan practices regarding loans in trouble and foreclosures. Some of you took me to task, taking the side of the bank practices. I still say they are full of weaselness. Well, watch this video and you may understand why things are as they are and the market is not recovering. http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1108552
BILL CHERRY, REALTORS DALLAS - PARK CITIES Since 1964 214 503-8563 WEB … (2 comments)
mortgage loans: A CLIENT TELLS HIS STORY OF TODAY'S LENDING PRACTICES
- 10/23/09 07:06 AM
I suppose it's because I've been in business for a long time, that I write for several regional publications, and am active in civic work and my church, I hear from lots of people. Frankly, the current mortgage loan underwriting standards and how they are being dictated is a total nightmare, and it is causing many, many well-qualified people misery. For an example, I just had a loan officer call and tell me that the underwriter wants a corporate resolution stating that my client doesn't own stock in a particular corporation. I screamed before I thought, "That isn't the purpose of … (3 comments)
mortgage loans: WORLD'S BEST DOT COM LOAN MAN -- STEPHEN BRADY
- 07/30/08 01:03 PM
Let me admit right up front that I am not a Dot Com kind of guy, especially when it comes to financial things. I want to see a building with the bank's name on it. I want to walk into a lobby where there are people transacting business. Most of all, I want to sit at a bank officer's desk and look him in the eye. So the idea of going to some web site, filling out an abbreviated loan application, then punching SEND without so much as knowing where it's going, much less to whom, has serious flaws for … (5 comments)
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