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Rick Said:

Whats a good site to compare Mortgage Lenders?

We Answered:

My advice to you, is to find a mortgage broker that you can trust. They can do that work for you and really compare more lenders than you ever could alone. You can also shop broker's the way you would banks, which means that each one will be looking to get you the best deal. An easy way to do that is to go to a place like lending tree or nextag, you will have more offers than you can count within a day. I hope that helped.

Irma Said:

Has anyone used Rest report program for mortgage modification?

We Answered:

He is just scamming you.

Your best bet to assure a modification is to fully document the hardship that caused you to be unable to pay your loan as you previously agreed to do.

Kurt Said:

Where can I find Home Loan Reviews or Lender Reviews?

We Answered:

Why do you find it important to know about the lender that does your home loan?

All mortgage lenders are governed by mostly state and federal laws.

Are you looking for a rating on the lender or mortgage broker?

Well which ever you are looking for and no matter who eventually does a loan for you. I am willing to bet that before the loan ink dries that the loan will be sold to someone else and before the month is through you will get a piece of mail saying ABC&D purchased your loan. Please make your monthly payments to the company listed on your payment booklet inclosed.

I am also clear that the person sending you that booket and mail are not your lender either. I am willing to bet that that person simply will be servicing your loan for the investor that puechased your loan.

Even if you get a letter with a payment book from the person that you went through to get you loan, they are now merely acting as the servicing agent for the investor that purchased your loan, 24 hours after it was funded and your escrow closed.

I was am a mortgage broker that assisted in securing a loan for a lady that was fed up with her lender and the tactics they were using in trying to get her to refinance her home. I took her application, she was very adamant about not having her loan under this lender.

I told her that I could not guarantee that this would not happen but if she wanted to refinance for that reason and that reason alone, she had to sign off on a disclosure that I made especially for her, that was I could not controll nor did I know who her loan would be sold to on an open market.

Well we did the refinance, closed the loan, guess who purchased the loan once all the dust had cleared. About 10 months later the same person that had been her servicing agent was now here servicing agent once again, because the loan had been sold to the person she previously had.

Investors do not purchase loans by name, state or city, they purchase by interest yield. So they might request any and all loans to 1000 with a rate of 6.5% with more than 25 years left for payments to be made.

So checking out a mortgage lender or bank will, only serve the purpose that they are in a data bank.

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

"FIGHT ON"

Charles Said:

I paid some charged off debt as requested by a mortgage lender, will this increase ny credit score?

We Answered:

No one should advise you to remove negative items if they are correct, especially someone claiming to be in the business.

Disputing items on your credit report you know is accurate is illegal and can be considered a crime in some states. Any business that advises you to dispute correct items just because they are negative should not be in business.