tag:searchlightcrusade.net,2024:/mt//feed/rate locks 2024-04-26T16:47:02Z Movable Type 4.21-en 20 1 20 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,2011://3.5038 2022-10-10T14:00:00Z 2022-10-10T14:41:04Z Dan Melson http://www.searchlightcrusade.net/ It's very easy for loan providers to talk about a much better loan when you're shopping than they have any intention of delivering. Then you give them thirty to sixty days after you sign up, and you're put into a... tag:www.searchlightcrusade.net,2009://3.4616 2021-09-05T14:00:00Z 2021-09-05T14:43:31Z Dan Melson http://www.searchlightcrusade.net/ I read with great interest you article on the internet about pre-payment penalties. I find my self in a situation involving a pre-payment penalty and would appreciate your advice on this. I currently have a loan in which the... 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:www.searchlightcrusade.net,2010://3.5002 2021-08-15T14:00:00Z 2021-08-15T14:53:22Z Dan Melson http://www.searchlightcrusade.net/ I hear it and read it all the time - advice that says to pre-emptively reject the possibility of paying points. People that talk to me about loan rates that tell me they will not consider any loan that... tag:www.searchlightcrusade.net,2010://3.4918 2020-12-13T15:00:00Z 2020-12-13T11:12:37Z Dan Melson http://www.searchlightcrusade.net/ First off, neither the California Mortgage Loan Disclosure Statement nor the Federal Good Faith Estimate are promises, commitments, or anything more than your loan provider wants them to be. Quite often, they're nothing more than a fictional story told... 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://3.4760 2009-07-07T14:00:00Z 2011-01-01T16:09:12Z Dan Melson http://www.searchlightcrusade.net/ It's very easy for loan providers to talk about a much better loan when you're shopping than they have any intention of delivering. Then you give them thirty days after you sign up, and you're put into a situation where... tag:www.searchlightcrusade.net,2009://3.4609 2009-03-17T14:00:00Z 2010-09-16T14:03:19Z 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 everyone who is thinking about getting a real estate loan needs to read it. "Fall-Out" is very simple: The... tag:www.searchlightcrusade.net,2009://3.4518 2009-02-25T15:00:00Z 2010-08-31T13:52:42Z Dan Melson http://www.searchlightcrusade.net/ I hear it and read it all the time - advice that says to pre-emptively reject the possibility of paying points. People that talk to me about loan rates that tell me they will not consider any loan that... tag:www.searchlightcrusade.net,2009://3.4547 2009-02-18T15:00:00Z 2009-02-18T14:48:40Z Dan Melson http://www.searchlightcrusade.net/ From an email: Our rate was locked (on our mortgage broker's recommendation) on December 4 at 5.375% for 30 days. On December 18 we finally received the rate lock form, which was dated December 17 (the prevailing rate was... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2811 2009-01-13T15:00:00Z 2009-01-13T14:43:44Z Dan Melson http://www.searchlightcrusade.net/ Rates were higher when I originally wrote this, but the principles remain the same Right now X is offering me a loan that looks something like this: 80/20 No down payment On the /80: 6.5% FIXED interest for 30 years,... tag:www.searchlightcrusade.net,2008://3.4288 2008-09-13T14:00:00Z 2008-09-13T15:55:56Z Dan Melson http://www.searchlightcrusade.net/ I'll keep hitting this and hitting this until everybody understands this critical point. From email: First of all, I love your website. It is just a plethora of information for first time buyers like me who wants to be an... tag:www.searchlightcrusade.net,2008://3.4090 2008-06-10T14:00:00Z 2008-06-10T13:43:13Z Dan Melson http://www.searchlightcrusade.net/ In the last couple of years a movement has arisen, led by certain well meaning academics, that says negotiating a loan broker's total revenue is sufficient to get consumers a better loan. As far as they go, they are... tag:www.searchlightcrusade.net,2008://3.4066 2008-06-03T14:00:00Z 2010-01-16T17:43:28Z Dan Melson http://www.searchlightcrusade.net/ First off, neither the California Mortgage Loan Disclosure Statement nor the Federal Good Faith Estimate are promises, commitments, or anything more than your loan provider wants them to be. Quite often, they're nothing more than a fictional story told... tag:gockel.hmdnsgroup.com,2006:/~searchli//3.2440 2007-12-22T15:00:00Z 2007-12-22T17:13:13Z Dan Melson http://www.searchlightcrusade.net/ A reader named Terri at Educating the Wheelers sent me an email giving me a heads up on the antics of the state of Illinois. here is the link. Here is the original article at blackprof. The link to the... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2878 2007-07-24T17:01:26Z 2022-06-20T16:28:59Z Dan Melson http://www.searchlightcrusade.net/ I read with great interest you article on the internet about pre-payment penalties. I find my self in a situation involving a pre-payment penalty and would appreciate your advice on this. I currently have a loan in which the... tag:gockel.hmdnsgroup.com,2007:/~searchli//3.2690 2007-03-07T18:01:43Z 2008-09-13T16:59:41Z Dan Melson http://www.searchlightcrusade.net/ I'll keep hitting this and hitting this until everybody understands this critical point. From email: First of all, I love your website. It is just a plethora of information for first time buyers like me who wants to be an... tag:gockel.hmdnsgroup.com,2005:/~searchli//3.2024 2005-12-07T18:01:43Z 2021-12-13T17:19:04Z Dan Melson http://www.searchlightcrusade.net/ When you have more than one loan on your property, there are some issues you should be aware of. Keep in mind the fact that some states still use the mortgage system, requiring court action to foreclose, as opposed to... tag:gockel.hmdnsgroup.com,2005:/~searchli//3.1824 2005-07-13T17:01:22Z 2021-11-23T16:27:34Z Dan Melson http://www.searchlightcrusade.net/ One of the most common 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...