MortgagesUndressed

I realized today just how much the implosion of the subprime world has affected our business. Everyone is running and hiding. Few are willing to take any chances. Things that used to be easy decisions are difficult. No one at the lender level is willing to take any chances. The days of getup and go have got up and went. It reminds me of a poem: How do I know my youth is all spent? My get up and go has got up and went.

This state of affairs has important implications for you the borrower. Expect no favors and no exceptions. Additionally you should go overboard to prove how worthy you are to borrow. Give no crap to anyone asking for anything, just do it and do it right.

If you are requested to give bank statements give copies of all pages front and back.

Do it fast. Do it thoroughly, Do it all. Otherwise your loan will drag out and no one will have any sympathy for your state.

No one is moving fast so you move fast to help compensate.

Larry Cragun

Christmas trees come down at Sea-Tac, controversy rises
Some want airport decorations put back up

By AMY ROLPH
P-I REPORTER

Christmas still might have a chance at Sea-Tac Airport.

		SOUND OFF
	Join a spirited discussion of this story.

Amid the growing controversy over the Port of Seattle’s decision to remove Christmas trees from the airport, many agree on one thing: Packing away the trees could have been an overreaction.

The port’s staff took down the trees Thursday after commissioners learned a lawsuit could be filed the next day if they didn’t allow an 8-foot menorah to be displayed beside the largest of 15 Christmas trees throughout the airport.

“In hindsight, we probably should have handled this in a more deliberate and thoughtful manner, but at the time we were given a very short timeline,” Commissioner John Creighton said Sunday evening.

The five port commissioners will meet Tuesday evening, and though they have a crowded agenda, Creighton said he wouldn’t be surprised if the issue is revisited.

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Be careful not to be tricked by radio advertisements. One of my friends uses the radio, but he doesn’t promise the moon, low rates, or tricks. He is a likable kind of guy you would like to know and do business with, his advertisements convey that message.

I was prompted to write this posting by a radio advertisement I heard. It made a big deal about no closing costs. Understand, every lender has that option. To have no closing costs means you pay a higher rate, so the bank can give the lender a rebate. Out of the rebate, the lender pays your closing costs.

What concerns me also, is if you choose the lender like this, for this reason, you are doing it for the wrong reason.

Another radio and media come-on is the low interest rate gimmick. Understand, loans are sold to investors. It is very competitive and no one should be much lower than the group. Watch our Thursday postings of Freddie Mac rates. They should be a guide to reality. When someone offers to beat the market in a big way, beat a path elsewhere, you are probably about to be tricked into something you may regret.

Larry Cragun

Let me see, let me count the ways:

The list is about them. But first, a comment about you, the typical borrower. You sometimes don’t listen to your agents advice. Why is a bewilderment to me, but it is a fact. You are sometimes the problem because you are not informed. Thus this blog, it is for you. Be informed. Try your best to not be the reason you had a bad experience. Instead of dreaming and studying homes online, study both lending and homes. The more informed you are, the less likely you are to do business with the wrong loan officer.

Now: The list begins.

1- This is a serious business, no place for patience.

2- Some are greedy, loans are a haven for the greedy.

3- Many are short sided in how they build or don’t build a business.

4- Some are flakes

5- Some are not competent: incompetency often costs you $$$$$$$$$$$ and more money.

6- Some lie to people.

7- Some make mistakes and then won’t stand behind their committments.

8- The business is not transparent, so some don’t give you all options in your best interest.

9- Mortgages seem easy, attracts the wrong types.

10- A lot of loan officers have credit problems on their own, seems hypocritical to me.

11- Many states don’t require licensing of loan officers, some make it too easy to have a license..

These types are not the majority, but they are all too prevelant. Thus my critical, tough, & impatient attitude.

If I have your attention for a minute or more, maybe - just maybe you will avoid a bad experience.

HOW DO I KNOW THIS? I KNOW! READ MY ABOUT SECTION.

HOW DO YOU AVOID THESE TYPES? READ THIS BLOG FROM FRONT TO BACK, AND DAILY.

USE A LOAN OFFICER THAT IS KNOWN TO BE COMPETENT, PROFESSIONAL, AND NOT TOO BUSY - BY AN AGENT. LET THE LOAN OFFICER KNOW THE REASON THEY WERE YOUR CHOICE. KEEP THE AGENT INFORMED. THIS WAY, THE LOAN OFFICER HAS FUTURE AGENT BUSINESS AT RISK.

Larry Cragun

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.

When life hands you lemons……

remodel…Click here and enjoy