Archive for August, 2006
Lending Tree
According to Dave Liniger of ReMax, speaking at the Inman Conference: Lending Tree has a 1% market share and an 83% brand awareness.
Your job Mr and Mrs Consumer, help that market share go down. You don’t want to be a lead. Not for any perks.
Had any lemons lately? Move on.
Had any lemons lately?
Lots of them you say….
Did they come from somone close?
Or something far away?
Did you take it on the chin?
And with your life move on?
Or are you still persuing….
And sadly hanging on?
Move on….
Larry Cragun
Or from Bloodhound blog.
No commentsI just received a question by email from one of the faithful 25
Q: If I buy a second home and move into it, and rent the old home, would that be fraud too?
A: Probably not. You would want to consider how long you had the first home’s mortgage and what you told that lender. It is your intent in that loan that will be important. Usually, if you had that mortgage 6 months, your intent to live in it as your primary residence would be probable.
Good Question.
Lar
No commentsI think you should join this conversation
My goals of the mortgage and real estate undressed blogs is consumer education, transparancy, with a bit of fun. I find sarcasm helps. I love producing these blogs.
There are times I want to tear into someone in the industry that mess with people in fraud, abuse, or deceipt. I forgive mistakes but have difficulty with those too proud to say I messed up, thereby covering their hinies with double speak. I don’t like greedy loan officers that charge money through rebates that aren’t disclosed, fees they wouldn’t dare charge if the customer new about it. I don’t like loan officers that take advantage of women and the inexperience or uneducated.
Recently a real bad situation for a woman buyer - borrower came to my attention. This caused me to write two articles in an upset vein last friday. There will be follow up articles.
The first: If you are a rip off artist loan officer:
The second: Now this is audacious
Anyway, between the two of us, I think we are into some sensitive areas, that could use your input.
Larry Cragun
No commentsWhats with this number 10?
Bloggers seem to be captured by it, including me. Check the lists. Is this why?
Guy Kawasaki’s blog has lots of 10’s.
I think we should remember there are other important numbers. Let us not discriminate. So in honor of them I remind you.
10 of course,
9 Lives, wheh
8 Ball, the good old days gone by
7 - 11 (My daily stop for pop)
6 Pack of diet
5 Star (The Palace Hotel)
4 round the bases (grand slam)
2 strikes, not out, still up to bat
1 is the goal #1, the journey is the joy.
LarrY Cragun
3 comments
If you are a rip off artist loan officer
If you are a rip off artist loan officer you better hope your borrowers don’t find this website. They will learn to watch out for you. They will learn to look up what is written about you on blogs. You also better hope I don’t get the proof you ripped someone off because I will report it, you, and the facts.
Last night at 9:30 I received a call from a person in a state of panic. Closing is next week. The Good Faith said they needed A little over $4000 for closing. The closing papers arrived yesterday, they now need over $11,000.00. I told them to give the lender a chance to fix the problem, if they don’t we will report every single fact: names, company, everything.
I did go look at the closing papers. The loan officer is trying to make $10,000 on this deal. $6500 in rebate. If that holds up as to what is truly being sought after by this loan officer, she is a rip off artist and you will know her name one day.
Loan officers, you don’t deserve a $10,000 fee on a stated income 692 middle FICO score borrower. You just don’t. It is abuse.
I did a search on Technorati and don’t find one posting with the loan officers name. If the facts are as they seem, the name may appear soon for all the world to see.
This brings up another point. Go to the blogosphere, see what is written about people you are about to do business with. Write about your bad experiences.
We recommend it.
After all, we are about transparancy. We are a consumer advocate site.
Larry Cragun
3 comments
This is the reason we have a stall ( A Bibble) if not a bubble
The New York Times Reports the hot market for second homes slump.
It was reported by the NAR that last year approximately 25% of home sales were for second homes.
I didn’t buy it. Interest rates for second homes are typically the same as a primary residence. Rates for rentals, investment homes are higher.I believe we had liar buyers. Borrowing as a second home with plans to rent out the little pearl.
It is harder to make things pencil now. People that are buying second homes are fewer because they really are buying as second home. The others have gone somewhere else to invest.
I think you could call it fraud, if you told the bank it was a second home, and lied to get a lower rate on a rental property.
So what should you do? Kick the renters out.
The question is, where are they investing now? Blogs?
Larry Cragun
No comments
