Some thoughts on Mortgage issues
(Disclosure: I am getting paid $10 for this post)
So the topic is Mortgage Fraud. Well we don't have a mortgage which would be a good thing if we had a house, but we don't. The reality for us right now is that what we could afford in a mortgage payment is just not around. But the day is coming and one day we too will own land. One thing is for sure, I would do all in my power to not have restrictions on my loan. You know what I mean, like the prepayment penalty and points. I was working with some numbers a few years ago and found out that if I ever got the chance to play the banker, I would take it. It is simply amazing how much interest is paid out in the beginning of a mortgage, and the if you refinance, the front of the loan starts right back up. My advice is to find a good
mortgage company. Of course you can always call me and I will give you names if you like :)
FYI: Actual Email from PayPerPost
Dear Christian Burns,
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My response:
"Specialnote to our extensive mortgage directory, forums and helpful industry content is also recommended."
The word recomended is not the same as requires. Can you please clarify?
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Good advice Chris :) I think one day we’ll hit the market when it’s at a low and find a real good deal. Love you babe!
So is this something I can do? Can you post as many as you want and get paid. That could be fun. Is there any initial cost to get started?
My favorite site for mortgage stuff is Searchlight Crusade.
http://www.searchlightcrusade.net/
You could always come be my neighbor…housing is definately cheaper here. :)
Where do you live Roberta?
Hmmm. . . I just thought that might not be information you would want to disclose over the internet. Please keep in mind, I wasn’t asking for you SSN, DOB and your street address. :-)
Just curious about where it is “definitely cheaper here”. Living in Hawaii drives me nuts anywhere cheaper than here would be glorious!!
Well, as a family who has had pre-payment penalties coming back to bite us right now, we will read the fine print much more carefully in the future.
:-(
~Karen~
Yeah, the guy at Searchlight Crusade basically says prepayment penalties are a bad deal. There are evidently even some out there that start charging penalties on the first dollar paid over! And refinancing before the deadline is definitely considered prepayment. Even though you still owe the money!
Poor Karen!
Oh! One more thing that he says over and over again is DO NOT search for a loan based on the amount you pay per month. That’s the mindset most of the scam artists are looking for.
Tam~ I’m in Idaho. :)
Another thing…we moved here from Oregon (the burbs of Portland) and bought a much larger home (still a fixer) for half the price. And I’m gonna guess far cheaper than Hawaii!