[infoseeker]

Recourse in Money Lending business is difficult. Going after folks defaulting on loan is a risky business… the same issues you will have as with prosper.com. Failure of payment of rent is easier to deal with since eviction of people from rental property is easy compared to a “owned” property. People’s emotional attachment to rental property is less than “owned” property. In addition to cash-on-cash ROI, renting also provides the long term gains that comes with asset appreciation. Depreciation tax write off is an additional advantage of renting.

[infoseeker]

Recourse in Money Lending business is difficult. Going after folks defaulting on loan is a risky business… the same issues you will have as with prosper.com. Failure of payment of rent is easier to deal with since eviction of people from rental property is easy compared to a “owned” property. People’s emotional attachment to rental property is less than “owned” property. In addition to cash-on-cash ROI, renting also provides the long term gains that comes with asset appreciation. Depreciation tax write off is an additional advantage of renting.

[infoseeker]

Home is in 92128. BTW of the 10 years of renting first 5 years was in bay area where we didnt even consider owning a home. Thanks

[infoseeker]

Home is in 92128. BTW of the 10 years of renting first 5 years was in bay area where we didnt even consider owning a home. Thanks

[infoseeker]

Home is in 92128. BTW of the 10 years of renting first 5 years was in bay area where we didnt even consider owning a home. Thanks

[infoseeker]

Home is in 92128. BTW of the 10 years of renting first 5 years was in bay area where we didnt even consider owning a home. Thanks

[infoseeker]

Home is in 92128. BTW of the 10 years of renting first 5 years was in bay area where we didnt even consider owning a home. Thanks

[infoseeker]

I would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.

[infoseeker]

I would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.

[infoseeker]

I would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.

[infoseeker]

I would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.

[infoseeker]

I would highly recommend reading this book “Mortgage Rip-offs and Money Savers” – Carolyn Warren. As Carolyn explains mortgage brokers are no less advantageous than banks. Infact brokers also have access to lenders who don’t do retail loans. Comparing Rate or even APR is not the accurate way to shop for mortgage. Rates fluctuate on a daily (if not multiple times a day). So its impossible to get the quotes from multiple sources in a single instant. That’s why knowing how much your broker gets paid is important. IMO the best way is to go with a broker who comes recommended and who you trust after your interview. He must be willing to clearly spell out every term in the GFE; he must be willing to work for a fixed fee (YSP + orgination cost) and he must be willing to show you the wholesale lender’s rate sheet anytime you ask for, especially the date (or time) you lock and must forward you the lock confirmation the moment you decide to pull the trigger.

[infoseeker]

Would prefer an honest & sincere local loan broker to an online bank for the following reasons.

1. YSP will be disclosed without any excuse
2. Easily reachable and in-loop during every step in the escrow process
3. On top of things when it comes to locking rate (my broker monitored rates and saved me $1000 by locking 7 min before the wholesale lender increased the rates)
4. Not expensive compared to online banks given that online banks also add costs that is invisible. Also the broker has multiple sources to shop for best rates.

[infoseeker]

Would prefer an honest & sincere local loan broker to an online bank for the following reasons.

1. YSP will be disclosed without any excuse
2. Easily reachable and in-loop during every step in the escrow process
3. On top of things when it comes to locking rate (my broker monitored rates and saved me $1000 by locking 7 min before the wholesale lender increased the rates)
4. Not expensive compared to online banks given that online banks also add costs that is invisible. Also the broker has multiple sources to shop for best rates.

[infoseeker]

Would prefer an honest & sincere local loan broker to an online bank for the following reasons.

1. YSP will be disclosed without any excuse
2. Easily reachable and in-loop during every step in the escrow process
3. On top of things when it comes to locking rate (my broker monitored rates and saved me $1000 by locking 7 min before the wholesale lender increased the rates)
4. Not expensive compared to online banks given that online banks also add costs that is invisible. Also the broker has multiple sources to shop for best rates.

[Author]

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