[HLS]

MIT
You have earned my respect for the wisdom of the statement
“I have little confidence in my ability to sort out all the investment strategy and timing”

If you wanted a new 30 YR loan without taking cash out, it would cut your payments over 50%.

It’s a personal decision as to whether you want a higher payment for 10 years or a lower payment for 30, with access to the extra cash now, and hopefully paying back in cheaper inflated dollars.

A $500 payment 10-20 years from now will probably not seem like much. (It doesn’t even seem like much today) Even a Wal-Mart greeter could afford that payment. 🙂 HLS

[HLS]

MIT
You have earned my respect for the wisdom of the statement
“I have little confidence in my ability to sort out all the investment strategy and timing”

If you wanted a new 30 YR loan without taking cash out, it would cut your payments over 50%.

It’s a personal decision as to whether you want a higher payment for 10 years or a lower payment for 30, with access to the extra cash now, and hopefully paying back in cheaper inflated dollars.

A $500 payment 10-20 years from now will probably not seem like much. (It doesn’t even seem like much today) Even a Wal-Mart greeter could afford that payment. 🙂 HLS

[HLS]

Radio,,
Congratulations.

Funny how I knew that the rate you “just got” was 3 days ago on Wednesday isn’t it ?

I’m happy for you that you caught the day that mortgage rates happened to have spiked down.

As far as getting a half point discount and it being your fourth loan tells me something too. The special was that you paid a point instead of a point and a half.

I can do $260K loans for $5000 or less in closing costs all day long, so I’m glad that you got a discount to get to $6500. On Wednesday, I could have done a $260K loan for $2500.

I don’t know how long you have had your existing loan, but of course you are lowering your payments, you are starting the 30 year clock ticking again.

If loan #3 was a crappy loan, it wasn’t hard to make #4 look attractive.

In your situation having an 800 credit score is no better than a 700 score and having 70% equity is no better than having 40% equity.

Your original comment on Saturday that you “just got” a 4.50% loan was misleading, and you didn’t mention that you got a discount as a 4th timer.

(When someone tells me that they “just” had lunch, I don’t take it to mean 3 days ago)

It’s the misinformation that people throw around that annoys me, you don’t have to forgive me.

I don’t doubt that you got 4.50% on WEDNESDAY, because rates were there for a very short time.

Thanks for the update on how to qualify for a great loan. ..HLS

[HLS]

Radio,,
Congratulations.

Funny how I knew that the rate you “just got” was 3 days ago on Wednesday isn’t it ?

I’m happy for you that you caught the day that mortgage rates happened to have spiked down.

As far as getting a half point discount and it being your fourth loan tells me something too. The special was that you paid a point instead of a point and a half.

I can do $260K loans for $5000 or less in closing costs all day long, so I’m glad that you got a discount to get to $6500. On Wednesday, I could have done a $260K loan for $2500.

I don’t know how long you have had your existing loan, but of course you are lowering your payments, you are starting the 30 year clock ticking again.

If loan #3 was a crappy loan, it wasn’t hard to make #4 look attractive.

In your situation having an 800 credit score is no better than a 700 score and having 70% equity is no better than having 40% equity.

Your original comment on Saturday that you “just got” a 4.50% loan was misleading, and you didn’t mention that you got a discount as a 4th timer.

(When someone tells me that they “just” had lunch, I don’t take it to mean 3 days ago)

It’s the misinformation that people throw around that annoys me, you don’t have to forgive me.

I don’t doubt that you got 4.50% on WEDNESDAY, because rates were there for a very short time.

Thanks for the update on how to qualify for a great loan. ..HLS

[HLS]

Radio,,
Congratulations.

Funny how I knew that the rate you “just got” was 3 days ago on Wednesday isn’t it ?

I’m happy for you that you caught the day that mortgage rates happened to have spiked down.

As far as getting a half point discount and it being your fourth loan tells me something too. The special was that you paid a point instead of a point and a half.

I can do $260K loans for $5000 or less in closing costs all day long, so I’m glad that you got a discount to get to $6500. On Wednesday, I could have done a $260K loan for $2500.

I don’t know how long you have had your existing loan, but of course you are lowering your payments, you are starting the 30 year clock ticking again.

If loan #3 was a crappy loan, it wasn’t hard to make #4 look attractive.

In your situation having an 800 credit score is no better than a 700 score and having 70% equity is no better than having 40% equity.

Your original comment on Saturday that you “just got” a 4.50% loan was misleading, and you didn’t mention that you got a discount as a 4th timer.

(When someone tells me that they “just” had lunch, I don’t take it to mean 3 days ago)

It’s the misinformation that people throw around that annoys me, you don’t have to forgive me.

I don’t doubt that you got 4.50% on WEDNESDAY, because rates were there for a very short time.

Thanks for the update on how to qualify for a great loan. ..HLS

[HLS]

Radio,,
Congratulations.

Funny how I knew that the rate you “just got” was 3 days ago on Wednesday isn’t it ?

I’m happy for you that you caught the day that mortgage rates happened to have spiked down.

As far as getting a half point discount and it being your fourth loan tells me something too. The special was that you paid a point instead of a point and a half.

I can do $260K loans for $5000 or less in closing costs all day long, so I’m glad that you got a discount to get to $6500. On Wednesday, I could have done a $260K loan for $2500.

I don’t know how long you have had your existing loan, but of course you are lowering your payments, you are starting the 30 year clock ticking again.

If loan #3 was a crappy loan, it wasn’t hard to make #4 look attractive.

In your situation having an 800 credit score is no better than a 700 score and having 70% equity is no better than having 40% equity.

Your original comment on Saturday that you “just got” a 4.50% loan was misleading, and you didn’t mention that you got a discount as a 4th timer.

(When someone tells me that they “just” had lunch, I don’t take it to mean 3 days ago)

It’s the misinformation that people throw around that annoys me, you don’t have to forgive me.

I don’t doubt that you got 4.50% on WEDNESDAY, because rates were there for a very short time.

Thanks for the update on how to qualify for a great loan. ..HLS

[HLS]

Radio,,
Congratulations.

Funny how I knew that the rate you “just got” was 3 days ago on Wednesday isn’t it ?

I’m happy for you that you caught the day that mortgage rates happened to have spiked down.

As far as getting a half point discount and it being your fourth loan tells me something too. The special was that you paid a point instead of a point and a half.

I can do $260K loans for $5000 or less in closing costs all day long, so I’m glad that you got a discount to get to $6500. On Wednesday, I could have done a $260K loan for $2500.

I don’t know how long you have had your existing loan, but of course you are lowering your payments, you are starting the 30 year clock ticking again.

If loan #3 was a crappy loan, it wasn’t hard to make #4 look attractive.

In your situation having an 800 credit score is no better than a 700 score and having 70% equity is no better than having 40% equity.

Your original comment on Saturday that you “just got” a 4.50% loan was misleading, and you didn’t mention that you got a discount as a 4th timer.

(When someone tells me that they “just” had lunch, I don’t take it to mean 3 days ago)

It’s the misinformation that people throw around that annoys me, you don’t have to forgive me.

I don’t doubt that you got 4.50% on WEDNESDAY, because rates were there for a very short time.

Thanks for the update on how to qualify for a great loan. ..HLS

[HLS]

RG, thanks for more misleading information.
Was “just approved” 5 minutes ago OR was it “just” Wednesday.

I don’t think that anybody has that rate available today.

Of course they are out there, but rates don’t sit around waiting for people to act.

It depends on what you qualify for, based on credit score, equity and income.

There are fees and costs associated with getting the lowest rates.

RG, I don’t know what you mean by “just” but my guess is that you will have other fees/costs that you haven’t seen yet or are you also a bank employee ??

[HLS]

RG, thanks for more misleading information.
Was “just approved” 5 minutes ago OR was it “just” Wednesday.

I don’t think that anybody has that rate available today.

Of course they are out there, but rates don’t sit around waiting for people to act.

It depends on what you qualify for, based on credit score, equity and income.

There are fees and costs associated with getting the lowest rates.

RG, I don’t know what you mean by “just” but my guess is that you will have other fees/costs that you haven’t seen yet or are you also a bank employee ??

[HLS]

RG, thanks for more misleading information.
Was “just approved” 5 minutes ago OR was it “just” Wednesday.

I don’t think that anybody has that rate available today.

Of course they are out there, but rates don’t sit around waiting for people to act.

It depends on what you qualify for, based on credit score, equity and income.

There are fees and costs associated with getting the lowest rates.

RG, I don’t know what you mean by “just” but my guess is that you will have other fees/costs that you haven’t seen yet or are you also a bank employee ??

[HLS]

RG, thanks for more misleading information.
Was “just approved” 5 minutes ago OR was it “just” Wednesday.

I don’t think that anybody has that rate available today.

Of course they are out there, but rates don’t sit around waiting for people to act.

It depends on what you qualify for, based on credit score, equity and income.

There are fees and costs associated with getting the lowest rates.

RG, I don’t know what you mean by “just” but my guess is that you will have other fees/costs that you haven’t seen yet or are you also a bank employee ??

[HLS]

RG, thanks for more misleading information.
Was “just approved” 5 minutes ago OR was it “just” Wednesday.

I don’t think that anybody has that rate available today.

Of course they are out there, but rates don’t sit around waiting for people to act.

It depends on what you qualify for, based on credit score, equity and income.

There are fees and costs associated with getting the lowest rates.

RG, I don’t know what you mean by “just” but my guess is that you will have other fees/costs that you haven’t seen yet or are you also a bank employee ??

[HLS]

CS..

In my opinion it makes no sense and may even be illegal. I know that some mtg people have done it, I want no part of it.

When people do finally realize that they got screwed, they will find a lawyer who will want to sue everyone that he can find that was involved, including the FEDEX delivery driver just so the lawyer can make his money.

The mortgage person responsible will probably no longer be in the business, they will be off in another scam.

In the securities industry it would be called churning. My belief is that it is highly unethical
and although might be a short term benefit to a borrower, it screws the borrower in the long run, without them even realizing it.

Most mortgage people do not know the meaning of the word ethical.

It’s nothing more than a mortgage person encouraging someone to gamble with their future financial security so they can put commissions in their pocket, with no regard to the clients future.

I equate it to the scheme that goes on with mutual funds, people pay a fund manager who will make money forever regardless of whether or not the client ever makes a penny.

It’s wrong. It’s sick. It’s unfortunately how many people make money, by screwing others with crazy ideas that neither one actually understands.

I always & only suggest what I think is the absolute best option for the borrower that benefits them, not a crazy loan that will benefit me.

People who shop only by rate will get what they deserve. … HLS

[HLS]

CS..

In my opinion it makes no sense and may even be illegal. I know that some mtg people have done it, I want no part of it.

When people do finally realize that they got screwed, they will find a lawyer who will want to sue everyone that he can find that was involved, including the FEDEX delivery driver just so the lawyer can make his money.

The mortgage person responsible will probably no longer be in the business, they will be off in another scam.

In the securities industry it would be called churning. My belief is that it is highly unethical
and although might be a short term benefit to a borrower, it screws the borrower in the long run, without them even realizing it.

Most mortgage people do not know the meaning of the word ethical.

It’s nothing more than a mortgage person encouraging someone to gamble with their future financial security so they can put commissions in their pocket, with no regard to the clients future.

I equate it to the scheme that goes on with mutual funds, people pay a fund manager who will make money forever regardless of whether or not the client ever makes a penny.

It’s wrong. It’s sick. It’s unfortunately how many people make money, by screwing others with crazy ideas that neither one actually understands.

I always & only suggest what I think is the absolute best option for the borrower that benefits them, not a crazy loan that will benefit me.

People who shop only by rate will get what they deserve. … HLS

[HLS]

CS..

In my opinion it makes no sense and may even be illegal. I know that some mtg people have done it, I want no part of it.

When people do finally realize that they got screwed, they will find a lawyer who will want to sue everyone that he can find that was involved, including the FEDEX delivery driver just so the lawyer can make his money.

The mortgage person responsible will probably no longer be in the business, they will be off in another scam.

In the securities industry it would be called churning. My belief is that it is highly unethical
and although might be a short term benefit to a borrower, it screws the borrower in the long run, without them even realizing it.

Most mortgage people do not know the meaning of the word ethical.

It’s nothing more than a mortgage person encouraging someone to gamble with their future financial security so they can put commissions in their pocket, with no regard to the clients future.

I equate it to the scheme that goes on with mutual funds, people pay a fund manager who will make money forever regardless of whether or not the client ever makes a penny.

It’s wrong. It’s sick. It’s unfortunately how many people make money, by screwing others with crazy ideas that neither one actually understands.

I always & only suggest what I think is the absolute best option for the borrower that benefits them, not a crazy loan that will benefit me.

People who shop only by rate will get what they deserve. … HLS

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