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How To Never Get Ripped-Off When Getting A Mortgage |
I'm going to blow the lid CLEAN OFF these nasty deep pockets of profit, make tons of enemies in the industry and protect you in the process.
The strategy of lenders is to maintain an uneven playing field with their clients. The average person only gets a mortgage every seven years. How can you become good at something you do every seven years, especially if you're dealing with somebody who knows all the ins and outs and is doing this several times a day?
Never before in the history of this country has money been so cheap and repossessed homes and personal bankruptcies been so high.
So, who's making all the money and how?
In a word..."Servicers"
The nations largest servicer of mortgages charges up to 1/2% of their loans held per year. As of June 2007, this servicer managed $1.415 BILLION. Do the math.
Their ONLY goal is to throw as much money on the street as possible. They don't care how it comes back because that's "...not their problem." That's where mortgage bankers and brokers come in. Mortgage companies hire loan officers to produce mortgages to sell to the servicers for sizeable "back end" commissions.
If you've been taken advantage of already, on behalf of this industry, I apologize. If you've not yet made that mistake, or are in the middle of a mortgage transaction or know someone who is... STOP!
Tip Number 1: Don't make a mistake and become another statistic in a time when foreclosures are at an ALL TIME HIGH!
Tip Number 2: Home prices will be leveling off soon and you'll want to be positioned to take advantage of that.
To be prepared, here's what you need to do...
Get educated. Be a hero to your family and friends. Maybe not now, but one day you will.
To learn how to protect yourself, visit: http://www.MortgageSelfDefense.com
My name is Louie Frias. You don't know me yet, but after reading this expose on the mortgage industry's "dirty little secrets", you're going to be glad you do. I've made an insane living for over twenty-five years as a mortgage banker and broker. If there was a way to make a mortgage fly, I either knew about it or created it. If you want to learn what only bankers know but won't show you, please visit my website.About AuthorCan be located at: http://www.MortgageSelfDefense.com/aboutme.html
Source: ArticleTrader.com
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