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Stacey Said:

Are you looking to refinance or need financing for a new home purchase? Are you working with a direct lender?

We Answered:

Not the place to drum up business. Go out and do it like the rest of us.

Doris Said:

Mortgage loans........?

We Answered:

What you did is totally against the law. Who was your mortgage guy? Chop shops like this are horrible for our industry and consumers at long. He should have his license revoked for approving that loan, and if he encouraged it then he should be fined and placed in prison. Your deal artificially raised prices for all of your neighbors and put your lenders bank at risk. On that deal your lender would be lucky to make 2 grand. I hope it was worth it to him.

Warren Said:

Where can I find good Mortgage Leads for homeowners in california who are looking to refinance??

We Answered:

county courthouse. and it's free.

Ellen Said:

Where can I get the best deal on a home mortgage?

We Answered:

It all depends on wht you mean by "best deal". Do you mean best interest rate, lowest closing costs, best service, most ethical loan officer?

The best deal for you may not be the best deal for someone else and vice versa.

Quit shopping for the wrong thing and find an individual with whom you can develop a lifelong home ownership relationship, someone who will look our for your best interests, educate you on all of your options so that you can choose the one that best meets your needs, and helps you achieve your goals.

And, for heaven's sake, be wise enough to stay away from the loan shark feeding frenzy questions like your's draw.

Maria Said:

Benefis of working with a Direct Lender broker?

We Answered:

Working with a broker vs a direct lender

The difference is a direct lender will take your application, get a credit report and appraisal in the name of their company,at that time they will determine your credit worthiness of the programs they have available. If you fit their programs you have no problems, they get the rest of the items needed, your loan is approved and after a short time your loan closes.

If you don't fit into any of their programs since the credit report and appraisal was made out and is in their companies name, to change to another or new lender you have to get the appraisal and credit report from their company,most are not in a mood to do this thus causing you a delay for as long as they possibly can. When and if you do get your credit report and appraisal they are now out of date.

If you use a broker, they do the same thing take an application, get your credit report, and appraisal in their companies name afterwhich they submit your loan to several lenders they are approved with. If for some reason they and you are not approved, all they do is resubmit your loan package to another lender because the credit report and appraisal is in their company name.

The mortgage brokers are signed up with many lenders to include most of the direct lenders that you know for seeing their advertisment in the various media outlets. There is no extra cost to you by going with a mortgage broker.

A mortgage broker is an independent contract to many direct lenders and have you in mind to close your loan because they do not get paid until there is a closed loan. In most of your direct lenders offices the loan officers are on salary so if your loan is marginal or have a slim chance to close they simple let it lay and do nothing to move it along.

If you asked me and you did I would prefer a mortgage broker to complete my loan application they have a reason to push it and get it closed by shopping it to many lenders as oppose to giving it to a direct lender they will not shop your loan if you do not fit any of their programs. I am a mortgage broker in the Los Angeles area.

I hope this has been of some help to you, good luck

Ronnie Said:

Mortgage bank question?

We Answered:

You won't be 100% sure of the deal until you go to closing and see the actual loan documentation. However, if the paperwork is ok, and the lender funds the loan, there's nothing to worry about. Size doesn't necessarily mean better and often means worse.

Jill Said:

Am looking to apply for secured loan - would like to go direct to lender as opposed to brokers -?

We Answered:

Do both and compare. Try your bank and the other major banks. DO NOT put your house as security unless you do not mind sleeping in the streets.