- This topic has 200 replies, 18 voices, and was last updated 13 years, 4 months ago by
moneymaker.
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August 5, 2011 at 9:59 AM #716404August 5, 2011 at 10:29 AM #715217
sdrealtor
ParticipantDont know how many more times I have to say this but recourse is basically irrelevant on a first mortgage. The lender only gets one action against you. If you walk they will foreclose via trustee sale everytime instead of doing a judicial foreclosure. Thuis they willo give up their right to pursue a deficiency judgement. 2nd mortgages are where recourse becomes an issue.
August 5, 2011 at 10:29 AM #715307ParticipantDont know how many more times I have to say this but recourse is basically irrelevant on a first mortgage. The lender only gets one action against you. If you walk they will foreclose via trustee sale everytime instead of doing a judicial foreclosure. Thuis they willo give up their right to pursue a deficiency judgement. 2nd mortgages are where recourse becomes an issue.
August 5, 2011 at 10:29 AM #715910ParticipantDont know how many more times I have to say this but recourse is basically irrelevant on a first mortgage. The lender only gets one action against you. If you walk they will foreclose via trustee sale everytime instead of doing a judicial foreclosure. Thuis they willo give up their right to pursue a deficiency judgement. 2nd mortgages are where recourse becomes an issue.
August 5, 2011 at 10:29 AM #716062ParticipantDont know how many more times I have to say this but recourse is basically irrelevant on a first mortgage. The lender only gets one action against you. If you walk they will foreclose via trustee sale everytime instead of doing a judicial foreclosure. Thuis they willo give up their right to pursue a deficiency judgement. 2nd mortgages are where recourse becomes an issue.
August 5, 2011 at 10:29 AM #716424ParticipantDont know how many more times I have to say this but recourse is basically irrelevant on a first mortgage. The lender only gets one action against you. If you walk they will foreclose via trustee sale everytime instead of doing a judicial foreclosure. Thuis they willo give up their right to pursue a deficiency judgement. 2nd mortgages are where recourse becomes an issue.
August 5, 2011 at 10:33 AM #715222jimmyle
ParticipantCan you PM me the contact info for Sheldon? And your real name as a referer? I wasn’t very happy with my broker.
[quote=captcha]If your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.[/quote]
August 5, 2011 at 10:33 AM #715312ParticipantCan you PM me the contact info for Sheldon? And your real name as a referer? I wasn’t very happy with my broker.
[quote=captcha]If your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.[/quote]
August 5, 2011 at 10:33 AM #715915ParticipantCan you PM me the contact info for Sheldon? And your real name as a referer? I wasn’t very happy with my broker.
[quote=captcha]If your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.[/quote]
August 5, 2011 at 10:33 AM #716067ParticipantCan you PM me the contact info for Sheldon? And your real name as a referer? I wasn’t very happy with my broker.
[quote=captcha]If your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.[/quote]
August 5, 2011 at 10:33 AM #716429ParticipantCan you PM me the contact info for Sheldon? And your real name as a referer? I wasn’t very happy with my broker.
[quote=captcha]If your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.[/quote]
August 5, 2011 at 10:58 AM #715247an
Participant[quote=afx114]I’m in the process of refi’ing from 4.75 to 4.35 4 months after buying. Lowering our mortgage around $90/month, it’ll pay for the minimal fees pretty quickly.[/quote]
I’m in the process of refi’ing as well. I got 4.375 w/ no cost through Sheldon.August 5, 2011 at 10:58 AM #715338Participant[quote=afx114]I’m in the process of refi’ing from 4.75 to 4.35 4 months after buying. Lowering our mortgage around $90/month, it’ll pay for the minimal fees pretty quickly.[/quote]
I’m in the process of refi’ing as well. I got 4.375 w/ no cost through Sheldon.August 5, 2011 at 10:58 AM #715940Participant[quote=afx114]I’m in the process of refi’ing from 4.75 to 4.35 4 months after buying. Lowering our mortgage around $90/month, it’ll pay for the minimal fees pretty quickly.[/quote]
I’m in the process of refi’ing as well. I got 4.375 w/ no cost through Sheldon.August 5, 2011 at 10:58 AM #716092Participant[quote=afx114]I’m in the process of refi’ing from 4.75 to 4.35 4 months after buying. Lowering our mortgage around $90/month, it’ll pay for the minimal fees pretty quickly.[/quote]
I’m in the process of refi’ing as well. I got 4.375 w/ no cost through Sheldon. -
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