thrilladawgzilla asked:
Thanks
ROB
Thanks
ROB
August 15, 2009
3 Comments
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3 credit bureau report | credit reports
SHELDON
Unless you are a very seasoned person in the mortgage or real estate industry the TIL is not going to help you much. What you need is someone to explain (in plain language) what they can do for you, and they need to be ABLE TO DO IT. That’s big on my list as a REALTOR®. You can promise the moon, but unless you can deliver – it makes no difference. Not sure where you are, but if you know any friends in the real estate business, I’d get some recommendations from them. We don’t use the lenders who don’t perform because our business and livlihood depend on them.
Comment by Paula — August 18, 2009 @ 5:14 pm
VALENTIN
It’s the GFE (Good Faith Estimate) you need to watch out for as well. See how much the co. is charging you for their services. First off, get an idea from the lender you bought your home, they might be able to do something for you. Check out they’re website, See if they have advertising. Advertising means they have lots of clients, meaning they do good business. If you go to a broker findout what lenders they deal with. The more variety they have, usually means you can have more options to choose from. Using a Broker normally means they do the work for you, they find the best bank for you, and most importantly it means only one credit report will be pulled (almost always)
Def. tell them you don’t want a pre-payment penalty if it’s an option in you state.
Good luck on your refinance!
Comment by GG — August 21, 2009 @ 7:37 am
EFREN
well, if you can understand the TIL, you are ahead of 98% of mortgage loan officers and brokers…
The good faith estimate will help…
I’m going to guess by your cowboy hat you’re not in California so I probably couldn’t do your loan, but I wrote an article on this on my website. go to and click on mortgage center…it will give you a list of questions to ask yourself and your loan professional…it’s not terribly indepth but gives you some things to think about.
Anyway, don’t be terrified of prepay penalties (these aren’t a problem if you don’t want to refinance or sell within the time of the prepay clause)…and don’t think that the lowest rate is always the best deal, and know that the lowest payment is sometimes the worst deal.
I wish I could just talk to you over the phone, but since this forum isn’t meant for that, I’ll just wish you good luck!
If you have any more specific questions, let me know. I’ll try to check back…or email me if you’d rather…even if I’m not doing your loan, I’ll try to help you out.
Katherine White
Comment by singingsoprano — August 24, 2009 @ 4:41 pm