[HLS]

I think it is illegal to charge an upfront fee for a loan mod UNLESS you are an attorney. (I guess then it is OK because you are charging for your time, and are supposed to know what you are doing)

I think that real estate people must clear with the DRE an “advance fee agreement” to try a loan mod and charge upfront.

There is no guarantee that a mod will be sucessful.
Advance fees can be $500 to $1000 and up to $5000 more if successful.

It’s ripe for fraud. Preying on folks who want to believe that they will be saved.

For most people underwater, I think they just need to face up to reality that they cannot afford it.
If you want to stay, then stay and pay what you agreed to.

If you owe $600K on a stucco box that is worth $400K today (and won’t even really sell for that anyway) the lender might lower your payment for ONE reason… THEY DON’T WANT YOUR HOUSE.

They will have to actually accept a huge loss, instead of just a non performing loan..
Right now it is the occupants problem , not the lenders.

I’m willing to bet that behind closed doors they are saying “I cannot believe that these people actually want to stay there”

I point out to many people that if you owe $200K more than the house is worth, you own absolutely NOTHING today. You certainly wouldn’t buy the abode for what you owe on it right now, and it’s highly unlikely it will go back up anytime soon.
(Like 10-15 years+++)

Foreclosures are not the problem , they are the solution.

Until everybody grows up, admits they made a mistake, realizes that the govt allowed/created this housing bubble to happen (because it was good for the economy) and moves into something that they can afford, this housing problem isn’t going to end.

I understand that there is emotion and ego and pride involved, so what, get over it. Your friends will still like you after you get foreclosed on if they are really your friends.

Who are people trying to impress by living beyond their means ?
Where did this entitlement attitude come from ??
(OH YA, the govt, I forgot.. the ones that are going to fix this mess)

People who have been responsible that are on the sidelines will buy the houses at prices that they can afford and the market will reset.

Houses wont sit empty, and they arent going to be burned down, (unless the riots start for saving people who lied to get loans and not helping the others)

We just need to play musical chairs with houses.
Houses wont be empty, people will have places to live, some egos will be bruised, and the problem will be solved. On with foreclosures!

The govt is interfering at the wrong time. HLS

[HLS]

I think it is illegal to charge an upfront fee for a loan mod UNLESS you are an attorney. (I guess then it is OK because you are charging for your time, and are supposed to know what you are doing)

I think that real estate people must clear with the DRE an “advance fee agreement” to try a loan mod and charge upfront.

There is no guarantee that a mod will be sucessful.
Advance fees can be $500 to $1000 and up to $5000 more if successful.

It’s ripe for fraud. Preying on folks who want to believe that they will be saved.

For most people underwater, I think they just need to face up to reality that they cannot afford it.
If you want to stay, then stay and pay what you agreed to.

If you owe $600K on a stucco box that is worth $400K today (and won’t even really sell for that anyway) the lender might lower your payment for ONE reason… THEY DON’T WANT YOUR HOUSE.

They will have to actually accept a huge loss, instead of just a non performing loan..
Right now it is the occupants problem , not the lenders.

I’m willing to bet that behind closed doors they are saying “I cannot believe that these people actually want to stay there”

I point out to many people that if you owe $200K more than the house is worth, you own absolutely NOTHING today. You certainly wouldn’t buy the abode for what you owe on it right now, and it’s highly unlikely it will go back up anytime soon.
(Like 10-15 years+++)

Foreclosures are not the problem , they are the solution.

Until everybody grows up, admits they made a mistake, realizes that the govt allowed/created this housing bubble to happen (because it was good for the economy) and moves into something that they can afford, this housing problem isn’t going to end.

I understand that there is emotion and ego and pride involved, so what, get over it. Your friends will still like you after you get foreclosed on if they are really your friends.

Who are people trying to impress by living beyond their means ?
Where did this entitlement attitude come from ??
(OH YA, the govt, I forgot.. the ones that are going to fix this mess)

People who have been responsible that are on the sidelines will buy the houses at prices that they can afford and the market will reset.

Houses wont sit empty, and they arent going to be burned down, (unless the riots start for saving people who lied to get loans and not helping the others)

We just need to play musical chairs with houses.
Houses wont be empty, people will have places to live, some egos will be bruised, and the problem will be solved. On with foreclosures!

The govt is interfering at the wrong time. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

Bob…
No offense taken, I’m not like that.

If I wasn’t competent in what I was saying or doing regarding loans, I wouldn’t put myself out there as to who and what I am about.

I have never lied to anyone about what rates are at the time they are asking and certainly never showed up with loan docs that had a different rate or program than they were promised.

If someone chooses to lock and rates go down, it isn’t fair to blame me.

I didn’t come to this site looking for business.
It just happens that I can be helpful if needed.
It’s been a kick here and I’ve met some great people.

I know what other mortgage people are up to. I hear from lender reps and escrow officers what is going on. I don’t like what I hear.

I cannot promise anyone that I have the lowest rtae/fees on the planet, (nobody can) that just isn’t reasonable, but I am very competitive and fair.
Those who want shop only by rate usually make poor choices.

Many people that got totally screwed shopped by rate. They got a neg am loan or an ARM, and have zero chance of refinancing today. They got their loan from a friend or neighbor.

I have never done a neg am loan and have talked people out of them. I have also talked people out of buying or refinancing because I don’t think it made sense for them. Perhaps they went elsewhere.

My website is different, and I am different.

I am usually available by phone 15 hours a day, 7 days a week, because I want to be and I enjoy doing this and I do keep people informed about their loan status.

I’d be happy to hear from someone who has a complaint about a loan they did with me. They got exactly what they were told and if there was an underwriting problem they knew about it immediately.

That’s just how I choose to do business. HLS

[HLS]

EE..
If you are religious, PRAY ! 🙂

I am familiar with their programs and rates. I don’t know what their secondary market is for these jumbo loans or what their underwriting guidelines are.

It is very dangerous for any institution to lend long and borrow short with their own money.

Loaning out money for 30 years below 6% and paying depositors rates below that today is fine, but at some point if/when CD rates rise they will be paying more to get money than they lent it out for if they didn’t offset this risk. (Bad business)
They may use arbitrage offset with bonds or another risk strategy. They aren’t stupid.

Assuming that you qualify in all respects, have you asked them what their extended lock policy is ?

You may be able to get a 6 month lock for a fee.
This would allow you to lock this month or next if you like the current rates, if you are sure you will be ready for occupancy by June/July.

Locks are simply a market commitment at todays market price with a time premium attached. If it’s worth it to you, you may have the choice to pay for the option.

Locks cost money to a lender. Consumers dont understand this. They just want to lock and keep shopping, which isn’t fair. Just like trading stocks, you word should be your bond.

If you want to wait,then wait. If you like the rate, then lock.

I do have a policy with my major lenders if rates drop a certain amount to get a small adjustment.

I have a lender that will lock up to one year out, but only up to $417,000 loan amount. The cost is 1 point of loan amount to get todays rate a year from now. Loans from $417K-$546 are 70 days max right now.

Most people do not get their mortgages at the lowest rate. Very, very few have 30 YR fixed at 5% or below. Now many are paralyzed by greed. Now they want an even lower rate before refinancing.

Maybe it will happen, I don’t know. . HLS

[HLS]

EE..
If you are religious, PRAY ! 🙂

I am familiar with their programs and rates. I don’t know what their secondary market is for these jumbo loans or what their underwriting guidelines are.

It is very dangerous for any institution to lend long and borrow short with their own money.

Loaning out money for 30 years below 6% and paying depositors rates below that today is fine, but at some point if/when CD rates rise they will be paying more to get money than they lent it out for if they didn’t offset this risk. (Bad business)
They may use arbitrage offset with bonds or another risk strategy. They aren’t stupid.

Assuming that you qualify in all respects, have you asked them what their extended lock policy is ?

You may be able to get a 6 month lock for a fee.
This would allow you to lock this month or next if you like the current rates, if you are sure you will be ready for occupancy by June/July.

Locks are simply a market commitment at todays market price with a time premium attached. If it’s worth it to you, you may have the choice to pay for the option.

Locks cost money to a lender. Consumers dont understand this. They just want to lock and keep shopping, which isn’t fair. Just like trading stocks, you word should be your bond.

If you want to wait,then wait. If you like the rate, then lock.

I do have a policy with my major lenders if rates drop a certain amount to get a small adjustment.

I have a lender that will lock up to one year out, but only up to $417,000 loan amount. The cost is 1 point of loan amount to get todays rate a year from now. Loans from $417K-$546 are 70 days max right now.

Most people do not get their mortgages at the lowest rate. Very, very few have 30 YR fixed at 5% or below. Now many are paralyzed by greed. Now they want an even lower rate before refinancing.

Maybe it will happen, I don’t know. . HLS

[HLS]

EE..
If you are religious, PRAY ! 🙂

I am familiar with their programs and rates. I don’t know what their secondary market is for these jumbo loans or what their underwriting guidelines are.

It is very dangerous for any institution to lend long and borrow short with their own money.

Loaning out money for 30 years below 6% and paying depositors rates below that today is fine, but at some point if/when CD rates rise they will be paying more to get money than they lent it out for if they didn’t offset this risk. (Bad business)
They may use arbitrage offset with bonds or another risk strategy. They aren’t stupid.

Assuming that you qualify in all respects, have you asked them what their extended lock policy is ?

You may be able to get a 6 month lock for a fee.
This would allow you to lock this month or next if you like the current rates, if you are sure you will be ready for occupancy by June/July.

Locks are simply a market commitment at todays market price with a time premium attached. If it’s worth it to you, you may have the choice to pay for the option.

Locks cost money to a lender. Consumers dont understand this. They just want to lock and keep shopping, which isn’t fair. Just like trading stocks, you word should be your bond.

If you want to wait,then wait. If you like the rate, then lock.

I do have a policy with my major lenders if rates drop a certain amount to get a small adjustment.

I have a lender that will lock up to one year out, but only up to $417,000 loan amount. The cost is 1 point of loan amount to get todays rate a year from now. Loans from $417K-$546 are 70 days max right now.

Most people do not get their mortgages at the lowest rate. Very, very few have 30 YR fixed at 5% or below. Now many are paralyzed by greed. Now they want an even lower rate before refinancing.

Maybe it will happen, I don’t know. . HLS

[HLS]

EE..
If you are religious, PRAY ! 🙂

I am familiar with their programs and rates. I don’t know what their secondary market is for these jumbo loans or what their underwriting guidelines are.

It is very dangerous for any institution to lend long and borrow short with their own money.

Loaning out money for 30 years below 6% and paying depositors rates below that today is fine, but at some point if/when CD rates rise they will be paying more to get money than they lent it out for if they didn’t offset this risk. (Bad business)
They may use arbitrage offset with bonds or another risk strategy. They aren’t stupid.

Assuming that you qualify in all respects, have you asked them what their extended lock policy is ?

You may be able to get a 6 month lock for a fee.
This would allow you to lock this month or next if you like the current rates, if you are sure you will be ready for occupancy by June/July.

Locks are simply a market commitment at todays market price with a time premium attached. If it’s worth it to you, you may have the choice to pay for the option.

Locks cost money to a lender. Consumers dont understand this. They just want to lock and keep shopping, which isn’t fair. Just like trading stocks, you word should be your bond.

If you want to wait,then wait. If you like the rate, then lock.

I do have a policy with my major lenders if rates drop a certain amount to get a small adjustment.

I have a lender that will lock up to one year out, but only up to $417,000 loan amount. The cost is 1 point of loan amount to get todays rate a year from now. Loans from $417K-$546 are 70 days max right now.

Most people do not get their mortgages at the lowest rate. Very, very few have 30 YR fixed at 5% or below. Now many are paralyzed by greed. Now they want an even lower rate before refinancing.

Maybe it will happen, I don’t know. . HLS

[HLS]

EE..
If you are religious, PRAY ! 🙂

I am familiar with their programs and rates. I don’t know what their secondary market is for these jumbo loans or what their underwriting guidelines are.

It is very dangerous for any institution to lend long and borrow short with their own money.

Loaning out money for 30 years below 6% and paying depositors rates below that today is fine, but at some point if/when CD rates rise they will be paying more to get money than they lent it out for if they didn’t offset this risk. (Bad business)
They may use arbitrage offset with bonds or another risk strategy. They aren’t stupid.

Assuming that you qualify in all respects, have you asked them what their extended lock policy is ?

You may be able to get a 6 month lock for a fee.
This would allow you to lock this month or next if you like the current rates, if you are sure you will be ready for occupancy by June/July.

Locks are simply a market commitment at todays market price with a time premium attached. If it’s worth it to you, you may have the choice to pay for the option.

Locks cost money to a lender. Consumers dont understand this. They just want to lock and keep shopping, which isn’t fair. Just like trading stocks, you word should be your bond.

If you want to wait,then wait. If you like the rate, then lock.

I do have a policy with my major lenders if rates drop a certain amount to get a small adjustment.

I have a lender that will lock up to one year out, but only up to $417,000 loan amount. The cost is 1 point of loan amount to get todays rate a year from now. Loans from $417K-$546 are 70 days max right now.

Most people do not get their mortgages at the lowest rate. Very, very few have 30 YR fixed at 5% or below. Now many are paralyzed by greed. Now they want an even lower rate before refinancing.

Maybe it will happen, I don’t know. . HLS

[HLS]

Hi Bob…

I appreciate your comments.

I am not a web designer. I don’t know anything about “raising search engine rankings” and don’t expect anyone to find my site by accident.

The links are there to be helpful, and when it comes to loans, I DO focus on them.

I have done loans for a few from this site. I’ll let them come forward if they are following the thread.

I say what I do, and do what I say. I’m not aware of any complaints about my service, ever.

I’m not out to fool anyone. People do a fine job of fooling themselves.

I have rates & strategies available that most others either don’t have, don’t know or are too lazy to deal with. I also have access to credit score help that few have.

The DISNEY link on my site has been popular. For those that don’t know, Disneyland is offering FREE admission on your birthday in 2009. No strings attached, you just need to register.

Yes, the link is on my website.
No, I don’t make a penny from it.

Bob, If I benefit from that link, I don’t know/why that is…

If you want help with a loan, feel free to check with me. I can’t do them for free, but I watch rates like a hawk.

I know the games and gimmicks that others play, and I will tell you.
For those that want help or want to truly understand what they are doing for the largest financial transaction of their lives, you get what you pay for.

I’m just trying to be helpful, with more than just loans. HLS

[HLS]

Hi Bob…

I appreciate your comments.

I am not a web designer. I don’t know anything about “raising search engine rankings” and don’t expect anyone to find my site by accident.

The links are there to be helpful, and when it comes to loans, I DO focus on them.

I have done loans for a few from this site. I’ll let them come forward if they are following the thread.

I say what I do, and do what I say. I’m not aware of any complaints about my service, ever.

I’m not out to fool anyone. People do a fine job of fooling themselves.

I have rates & strategies available that most others either don’t have, don’t know or are too lazy to deal with. I also have access to credit score help that few have.

The DISNEY link on my site has been popular. For those that don’t know, Disneyland is offering FREE admission on your birthday in 2009. No strings attached, you just need to register.

Yes, the link is on my website.
No, I don’t make a penny from it.

Bob, If I benefit from that link, I don’t know/why that is…

If you want help with a loan, feel free to check with me. I can’t do them for free, but I watch rates like a hawk.

I know the games and gimmicks that others play, and I will tell you.
For those that want help or want to truly understand what they are doing for the largest financial transaction of their lives, you get what you pay for.

I’m just trying to be helpful, with more than just loans. HLS

[HLS]

Hi Bob…

I appreciate your comments.

I am not a web designer. I don’t know anything about “raising search engine rankings” and don’t expect anyone to find my site by accident.

The links are there to be helpful, and when it comes to loans, I DO focus on them.

I have done loans for a few from this site. I’ll let them come forward if they are following the thread.

I say what I do, and do what I say. I’m not aware of any complaints about my service, ever.

I’m not out to fool anyone. People do a fine job of fooling themselves.

I have rates & strategies available that most others either don’t have, don’t know or are too lazy to deal with. I also have access to credit score help that few have.

The DISNEY link on my site has been popular. For those that don’t know, Disneyland is offering FREE admission on your birthday in 2009. No strings attached, you just need to register.

Yes, the link is on my website.
No, I don’t make a penny from it.

Bob, If I benefit from that link, I don’t know/why that is…

If you want help with a loan, feel free to check with me. I can’t do them for free, but I watch rates like a hawk.

I know the games and gimmicks that others play, and I will tell you.
For those that want help or want to truly understand what they are doing for the largest financial transaction of their lives, you get what you pay for.

I’m just trying to be helpful, with more than just loans. HLS

[Author]

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