tag:searchlightcrusade.net,2024:/mt//feed/rate/cost 2024-05-07T20:30:28Z Movable Type 4.21-en 55 1 55 tag:www.searchlightcrusade.net,2014://3.5113 2024-04-08T14:00:00Z 2024-04-08T16:19:05Z Dan Melson http://www.searchlightcrusade.net/ I love your site and you are very knowledgeable. I have one quick question for you. I bought a home, I made it through closing, I moved my family into the home. During the process I used some closing... tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2452 2023-10-30T14:00:00Z 2023-10-30T12:59:50Z Dan Melson http://www.searchlightcrusade.net/ One of the most true sayings in the mortgage business is, "If you can't lock it right now, it's not real." But many mortgage providers will play a game of wait and hope. They tell you they have a certain... tag:www.searchlightcrusade.net,2007://3.3738 2023-09-05T14:00:00Z 2023-09-05T15:08:15Z Dan Melson http://www.searchlightcrusade.net/ For a while there, the forty year mortgage had started to make a comeback, and a few lenders started introducing the fifty year mortgage. The reason, straight from the horse's mouth, the lender's representatives, is lowered payments. In an uncertain... tag:www.searchlightcrusade.net,2009://3.4820 2023-05-22T14:00:00Z 2023-05-22T15:45:14Z Dan Melson http://www.searchlightcrusade.net/ One of a long series of emails about this horrid product: (identifying details redacted) Learn How To Make More Money Per Client ($500-$1000) In This Workshop You Will Learn Why The Most Successful Mortgage & Real Estate Professionals Across The... tag:www.searchlightcrusade.net,2009://3.4800 2022-12-05T15:00:00Z 2022-12-05T15:45:08Z Dan Melson http://www.searchlightcrusade.net/ Note: This article was originally published November 2007, when rates were higher than currently I had been corresponding irregularly with this gentleman during his hunt. It happens he lives outside of California, and I only work inside California, so... tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2390 2022-08-15T14:00:00Z 2022-08-15T16:46:53Z Dan Melson http://www.searchlightcrusade.net/ One of the things I'm seeing a lot of these days is blanket advice on bridge loans. A bridge loan is a loan that you take out with the explicit intention of having it be short term. The most common... tag:www.searchlightcrusade.net,2007://3.3570 2022-03-14T14:00:00Z 2022-03-14T12:47:46Z Dan Melson http://www.searchlightcrusade.net/ Legally, immediately. This also applies to refinance loans. With that said, there are economic reasons why it may not be a good idea for you to refinance. If you have a prepayment penalty, you're going to have to save a... tag:www.searchlightcrusade.net,2007://3.3517 2021-10-25T14:00:00Z 2021-10-25T12:04:19Z Dan Melson http://www.searchlightcrusade.net/ pfadvice talks about debunking a money myth and perpetuates one of his own. He took issue with someone refinancing to lower their monthly payment, insisting instead that the term of the loan was all important. His point is understandable in... tag:www.searchlightcrusade.net,2010://3.5018 2021-10-08T14:00:00Z 2021-10-08T13:15:22Z Dan Melson http://www.searchlightcrusade.net/ It shouldn't be any surprise to anyone with the headlines of the last few years that shopping for a mortgage loan has radically changed. Indeed, a lot of the regulatory changes seem directly aimed at what were the best... tag:www.searchlightcrusade.net,2010://3.5006 2021-09-01T14:00:00Z 2021-09-01T15:10:03Z Dan Melson http://www.searchlightcrusade.net/ This is going to be a long article and somewhat technical in places, but it needs to be covered and it's important to everyone who is thinking about getting a real estate loan. "Fall-Out" is very simple: The number... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2861 2021-08-21T14:00:00Z 2021-08-21T13:44:50Z Dan Melson http://www.searchlightcrusade.net/ Every so often I get questions about loan cosigners. The main borrowers do not qualify on their own, so they get someone - most often mom and dad - to cosign. Cosigners are a different thing, or so I understand,... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2781 2021-06-12T14:00:00Z 2021-06-12T15:10:09Z Dan Melson http://www.searchlightcrusade.net/ Not interested? Most people aren't when it's talking about how they got taken advantage of in the past. First off, it's in the past so it is over and done with, and there's no use dwelling on it, right? Second,... tag:www.searchlightcrusade.net,2010://3.4936 2021-02-01T15:00:00Z 2021-02-01T14:32:15Z Dan Melson http://www.searchlightcrusade.net/ This is something that many folks don't understand about the loan market. The labels "conforming", "jumbo" or, more accurately, "non-conforming" (and "temporary conforming" when we had it) only apply to so-called "A paper" loans, largely underwritten through Fannie Mae... tag:www.searchlightcrusade.net,2010://3.4930 2021-01-12T15:00:00Z 2021-01-12T16:29:38Z Dan Melson http://www.searchlightcrusade.net/ Hello, Mr. Melson, I am one of your legion of fans of your www.searchlightcrusade.net website, having lucked into stumbling upon it by hyperlinking from another site. It is my goal to read EVERY ONE of your archived articles before I... tag:www.searchlightcrusade.net,2010://3.4923 2020-12-24T15:00:00Z 2020-12-24T17:03:30Z Dan Melson http://www.searchlightcrusade.net/ With a few lenders starting to loosen their requirements slightly in San Diego, it's becoming increasingly obvious that the bottom is behind us. However, the issue has now become, "I don't have much of a down payment. How do... tag:www.searchlightcrusade.net,2010://3.4914 2020-12-07T15:00:00Z 2020-12-07T15:12:31Z Dan Melson http://www.searchlightcrusade.net/ When I wrote explaining why borrowers should consider a 5/1 ARM, because the tradeoff between rate and cost is lower for that loan, and most people don't keep their loans 5 years anyway, so having a likely need to... tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2563 2020-11-28T15:00:00Z 2020-11-28T14:47:46Z Dan Melson http://www.searchlightcrusade.net/ This is part and parcel of the system that's abused. Here are sample rates from one A paper lender, picked at random, that were in effect when I originally wrote this. Rates are lower now, but it's a good example... tag:www.searchlightcrusade.net,2009://3.4906 2020-11-18T15:00:00Z 2020-11-18T17:44:13Z Dan Melson http://www.searchlightcrusade.net/ Every once in a while, the subject of assumable loans comes up. An assumable loan is one where the owner of a property has the ability to pass the loan along with the property in a sale. In other... tag:www.searchlightcrusade.net,2009://3.4899 2020-11-05T15:00:00Z 2020-11-05T14:48:56Z Dan Melson http://www.searchlightcrusade.net/ From an e-mail I've been talking to agents lately and I ask them about the things I've learned about from your site. I thought I would say things like "I want to apply for a backup loan" and they would... tag:www.searchlightcrusade.net,2011://3.5052 2020-11-04T15:00:00Z 2020-11-04T14:42:33Z Dan Melson http://www.searchlightcrusade.net/ This is the conclusion of the series begun in Page One and continued in Page Two Page Three is where the most blatant lies of this whole piece take place, and the first part of page three is where...