MortgagesUndressed

Exposing Mortgage Facts - Making Mortgages Transparent

Archive for the 'Unclassified' Category

Trigger Lists: Legal in most states but unethical

Talk about msessing with consumers. You pick a lender, he runs your credit, then your fuzzy credit bureau sells you to the Trigger List. You get bombarded with 1% interest rate phony balony pseudo loan officers who can’t make a living as an independent or bank professional. They become phone sales con men I call them. The can’t cut it in the professional loan world, so they follow up leads. This needs to be flushed and I predict it will be. As if the credit bureaus weren’t making enough oney. Heck Experien paid over $400,000,000 for a lead generator LowerMyBills.com. Enough of this. We need our buddy Zorro here. Lar

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Is Someone Getting A Kitten For Christmas?

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Christmas trees are going back up at Sea-Tac airport

In the middle of the night Santas Elves did overtime.

Christmas trees are going back up at

Sea-Tac airport

Seattle Times staff reporters

 

The holiday trees that went away in the middle of the night are back.

Click for the article:

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Get approved not pre qualified - Good advice from a Chapel Hills blog

 

Click Here

Raleigh HomeDon’t be fooled! Many banks will write a pre-qualification letter which is not worth the paper it is written on. Pre-qualification letters can be written without even reviewing a credit report, which is often the most critical factor.Advantages of Pre-approval for Buyers

  • Shop with confidence knowing you are already approved for the loan.
  • It’s free.

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And I Thought They were friendly; looks like a hostile takeover to me. From Sellsius

I just received this email from the giant and future super giant of the blogoshpere, Sellsius Blog..
They are on their move. I think Sellsius is code for "we will make you selltous".

I will really get worried if they change their name to SellsiusOrElse.

Lar

Can I make you move? I offer you $100.00 for your most excellent blog. I am
sure it is worth millions with you writing it but not worth nearly as much
if I take it over.  :)
Just send me the blog and I'll send $100 to your pay pal account.

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Is This The Ultimate Origami?

Who would create such a thing? Why? Help me.

I want to know more about this Origami Skill. Larry Cragun

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Merry Christmas from Curtis and Larry

click here

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The Mexican Mortgage Issue:

I have so many friends from Mexico, they must number near 100. Our old company employed a few spanish speaking loan officers and we brokered many of them mortgages. About 4 years ago INS started cracking down in our area, about the time we closed the company. They intercepted and stopped several loans in process.

I am interested in your feedback on this topic. What is your take on things today?

I am linking you to an agent who writes advice to these people who build our buildings, clean our homes, and serve us in so many ways. What a tough problem this is. Larry

From Jill Dizon: Riverside, Ca. Realtor

Using someone else’s identity to get a home loan isn’t a good idea…click here

… because you’re bound to be caught. Think about it. If you buy a house with someone else’s credit history, that address becomes associated with that name. The person is likely to find out at some point, and then you’re a sitting duck, right? And also, if you couldn’t have gotten that loan on your own, how will you make the payments?

Sounds dumb, and yet people try it. There was a case last year of someone who got a loan, bought a house, and then the listing agent was questioned months later because the person whose credit had been used found out about it and called the authorities. The agent hadn’t ever realized that the buyer wasn’t who he said he was. After all, he had provided all the necessary documents to his lender, right?

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Today is no Mortgage Fraud Day on both blogs

Hopefully we scare the dishonest into honesty.

Read this article

Mortgage fraud — the worst crime no one’s heard of

by Carol Lloyd

Recently, a developer regaled me with a story about a house that seemed to be cursed.

Although he beautifully renovated it and priced it below market, the Oakland bungalow just wouldn’t sell. Deals fell through repeatedly for bizarre and unrelated reasons: Buyers got cold feet or moved — one was even arrested.

By the time the fourth deal collapsed, the developer was in a state of financial panic. So, when one of the mortgage brokers who had helped a previous prospective buyer called with a new one who would close the deal for — get this — $100,00 over the asking price, he naturally jumped at the offer.

“The catch was that I had to give the $100K back to them after the close of escrow,” the guy told me, still looking shell-shocked. “I couldn’t understand why they would want to do that. The place was completely remodeled.”

(Most buyers who get cash back after escrow pour that money into repairs. Typically, though, lenders like to keep this amount to no more than 3 percent of the purchase price.)

The developer went through with the sale,

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An Advertisement

For Sale $2500.00: Power of the Shining Heavens. Rare out of print serigraph by Barry Herem 1978, Framed and in excellent condition. Contact Kathleen Leavitt, 206.618.3724

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