MortgagesUndressed

I post the email for two reasons: First, we will only promote, if and when we allow advertising on this site, businesses that add to the mortgage community. By add, I mean a valuable service.

Pay days loans are your friendly loan shark. The fees and interest they charge are in the absurb category. They may seem small in dollar amount but in percent they are serious.

Second: If you are in the space where you need a loan until your next check, you are not ready to get a mortgage or a new home. For you I want you to start dreaming. Visit this site daily. Look at a year or two as not far away. Start taking action that solves your problem.

Notice I said take action. This places the burden on you. You can do it. Do It.

Now for the email:

Dear Sir/Madam,
After
visitinghttp://mortgagesundressed.com ,our company

would be interested in an advertisement on your site.

We provide consumers a safe and easy way to apply for

payday loans online. Our advertisement format is

generally 15 words long and it will contain two to three text

links, which we provide. Please let us know how much your site

would charge for an ad of this size. We look forward to your reply

and the opportunity to work with you.

Thank you,

We select articles to nominate from articles we believe important for consumers to read. This one really qulifies. Lenders fees are not simple. My friend Pat Kitano writes a worth article. Click here.

So what really happens if you are close to the lock expiration date and need another day or two? Answer: You are at the mercy of the lender. Most often they have built in a few days cushion. Almost always if you get them to extend the lock you pay a fee for the extension. I don’t like it, it is a revenue stream I resent. Expect it however.

Tell me who, why, and how to contact him. We will give him or her your write up. Any State - Any City:

we locked our loan yesterday. Today, rates went up another 1/8%.

We are honored our article:Consumers:Since You Have To Live With Zillow You Better Hire Zorro was selected for this weeks Carnival Of Real Estate: Thank you Marlow Harris, the P I blog, and Zillow.

Said the moderator Marlow Harris:
We’re pleased to host this week’s Carnival of Real Estate, a weekly rundown of blog entries from across the country, hosted by Zillow. We received many (many!) contributions, so to make it magageable, we separated the posts into several categories: 1. Video, podcasts & multi-media, 2. Real Estate 2.0 and 3. Comedy:

Real Estate 2.0 is where we were categorized.

Heather presents Viral Growth- More Than a Buzzword posted at Trulia Blog.

Michael Price presents HAR Paves The Way, Again. posted at Mike’s Corner Web 2.0 For Real Estate Pros.

Cliff Jacobson presents Disintermediation: Travel Agents, Realtors, Realtor.com. Who’s Next? posted at WebHomeUSABlog.

Jim Cronin presents Business Plan 2007: Blog For Leads posted at Real Estate Tomato.

Jim Duncan presents Zillow cannot adapt posted at Real Central VA.

Larry Cragun presents Consumers: Since you have to live with Zillow you better hire Zorro posted at RealEstateUndressed.

Ardell DellaLoggia presents Zillow, Redfin and Us? posted at Seattle’s Rain City Real Estate Guide.

Watching And Floating - Interest Rates

The storms that took the power out of the homes and businesses of 1.5 million people in the Pacific Northwest teaches another lesson in our John Daley story. We have to lock today. The story we take you through has John still floating.

What if John wanted to lock Friday? It could not have happened. I was stranded. Most businesses were closed. Even worse, what if we woke up this morning to a crises that set the financial market on it’s heels?

The answer is so sorry, bad luck, nothing can be done. When you float you play the game against mother nature as well as the economics.

Perhaps you can conclude, floating is a gamble I don’t recommend. In our story the rate will be locked today at 1/8% higher than it would have been on November 22nd. There were 2 business days it would have been better for John, but by 1/8%. Not worth it.

Now we have the additonal issue, of closing Friday. It is Christmas week. Much of the staff is getting days off. But to end the story we can assume I faxed the lock in to the bank a couple of hours ago. I have a great relationship with this lender, and have communicatedo our need to rush. The borrower did all they needed to do to get the loan approved to close, the underwriter signed off on all conditions last week, our file is in line for documents later today or first thing in the morning. There are 3 files in line ahead of it. All will be well with the document department. Escrow won’t make an appointment for signing until they receive the doc’s, but I am a regular customer and they will come through for us.
Normally this is too tight of a schedule to be relaxed, not impossible to accomplish, so I end it happily ever after. And the higher payment coming to John, he is well off, he can afford the additional $23.75 a month.

Tune in regularly, Teresa Boardman and I have a new scenario for you to follow.

Be prepared, the motto of Boy Scouts of America. A lesson learned. My car was almost on empty, yet we had been warned a big wind storm was coming. A generator would have saved our food in the fridge and freezer. We could have had fresh batteries for our flashlights, the ones that were out in the garage. Thankfully we had natural gas, so we had hot water and a stove to cook on. We depend on much we take for granted. It is time to be grateful for so much, and for those who invented and created things we use daily. Larry Cragun

I received a pnone call Monday from a real estate agent. His story is significant to the recent flavor of articles on this blog. Here is the mess, I mean the story.

His buyer is one week from closing. Like many, he is hungry for a great rate. The purchase agreement was signed 3 weeks ago. He was approved by the agents favorite lender. Appraisal was done on time, inspections were completed and signed off, all looked well for closing just before Christmas.
I said it is a mess. The credit bureau sent, as they are doing now, notice to their trigger list that this transaction was in process. Numerous lenders called the client, all with stupendous rates. The buyer let each one of them make him a quote. Without telling anyone in the original transaction know it, he even arranged for the home to have an appraisal by one of these lenders.

He thought he was fine. Here is the sequence. The originol bank went to draw documents but did a second credit check. You can guess here, with all the new credit inquiries the score had dropped below the banks guidelines. The buyer doesn’t qualify. The second step, no problem the buyer says, I have another loan approval. Guess again here. They need documents to sign with this new lender - and they don’t qualify for the low rate program after all. They do qualfiy for 8%.

This buyer is probably without options. They undressed themselves.

Continuing the story of my saying to lock. Today the rate went up another 1/8%. One problem that can arise is if the loan officer and the borrower don’t speak every day the loan officer is helpless. I don’t know what John Daly wants except a better rate. That is gone. Do I wait until Monday, the latest? Do I lock his rate without speaking to him? Do I only follow his instruction? The later of these 3 is the answer. Since this is hypthetical, I will wait until Monday. So far, floating has been a mistake. Larry