When I say “never”, I mean…never, ever, ever shop for a mortgage by collecting a handful of Good Faith Estimates like so many baseball cards, or by calling around getting “verbal” mortgage rate quotes.
traps, tricks, bait n switch, Home Buying Tips, Mortgage Quotes, mortgage shopping, Mortgage Tips, scams, Scams, Tricks, Traps
Original post by rkblake
Zero down home loans or what we refer to in the industry as 100% Mortgages are really popular currently. These are loan programs which require no down payment whatsoever. Now on the surface this seems like a great idea. But could there be any problems giving a zillion broke people trillions of dollars worth of easy financing?
100% Mortgages, Conventional Mortgages, Home Buying Tips, Purchase Mortgages
Original post by rkblake
More Evidence Revelas the Yield Spread Premium Lie Is Real!
So as you may know my pet peeve of the mortgage industry is Yield Spread Premium (YSP) overcharging.
What is YSP overcharging?
It is how the mortgage industry makes big ‘hidden” bucks by lying to borrowers about mortgage rates…closing 90% of all loans at rates higher than required.
traps, tricks, bait n switch, Home Buying Tips, Refinancing Tips, scams, Scams, Tricks, Traps, Yield Spread Premium
Original post by rkblake