|Your only unbiased source for mortgage and credit information. I don't take applications or "harvest leads." I help people of all credit types avoid ripoffs and save money - since 1999. -- Carolyn Warren|
Before you dash out, full speed ahead, to preview homes and apply for a mortgage, take a few minutes to read this entire article, because with planning, you will save yourself costly errors. Don't make a decision you will later regret! With professional insight, you can buy a home with confidence, have a pleasant experience doing so, and save enough money to furnish your new home.
In just a moment, I'm going to tell you about some common tricks mortgage people play in order to pocket bigger commissions-- at your expense!
Should You Buy a House Now or Wait?
Home prices have come down since 2008. One couple bought a house
January 2009 for $145,000 that sold for $395,000 two years ago!
On top of that, interest rates have declined. This means you get
more house for a smaller monthly payment now than in the past five
years. If your finances are stable and you are ready to settle
down to one location, this is a good time to buy your own home and stop
paying someone else's mortgage with your rent check! Real estate
is still a good long-term investment.
Tricks Mortgage People Play to Take Advantage and Pocket Bigger Commissions
Seemingly honest loan officers can play to pocket extra money--at your expense. I'm not talking about the illegal scams--that's another topic altogether. I'm talking about common practices, such as...
Laughing Behind Your Back!
You don't want to walk out of the signing room just to have the loan officers high-fiving each other behind your back for the extra big fat commission they made off of you, so please pay close attention to what I'm about to tell you now.
Because of the subprime mortgage meltdown and the weakened economy, loan officers are hungrier than ever for business. One recent article sent out to thousands of mortgage professionals across the nation exhorted loan officers to try to make a higher percentage on each individual loan to make up for their lack of loan volume.
"Make the same amount of money with fewer loans,"
the article said.
I ask you, Is this fair, or this greed?
This is why you must not be lazy about skipping over your responsibility to learn about the home loan business.
Liars! Andertising Ploys!
Not long ago, I heard a radio ad that offered a "secret loan" that the banks didn't want the public to know about. (Supposedly, it was a loan that the banks could lose money on, so they didn't want you to find out about it, but this one company was offering it for a limited time.)
Disgusted, I called the mortgage company behind this ad and spoke with
the manager about their lie. I said, "All the banks and
mortgage companies have this loan program, and they all make money on
it. There is no such thing as a secret loan or a free loan."
Here is how the manager responded:
"I know it's not true, but as a marketing technique, it works," he
Some of the nicest, most amiable, most charming loan officers are also some of the biggest rip-off artists. And some of them work for large reputable companies! So don't automatically assume these warnings don't apply to you because your loan officer is nice and represents a national company. Greedy loan sharks lurk in all the lending institutions.
This is why I recommend that if you're
interested in buying your own home--either now or in
the near future--whether you're a first time home buyer or even a
second time home buyer, that you download your copy of Best
Strategies For First-Time Home Buyers.
At 94 pages, it is too lengthy to post on a website. But it is
information every home buyer desperately needs, and it is written in a
style that anyone can understand. Here is an example of what you get:
° How to get cheaper financing than retail banks. This tip alone
saves you tens of thousands of dollars in interest payments! (p. 5)
° How lenders rate credit. See where you fit in. (p. 10)
° How to calculate what price house you can really afford and why
you should not rely on the real estate agent to determine that. (p. 21)
° Getting a steal-of-a-deal!
° Which loan is best for You? (p. 36)
° List of legitimate closing costs. If it's not here, it's a bogus
rip-off fee added to increase their profits at your expense. (p. 39)
° How to buy a house if you don't
have money for a down payment. (p. 43)
° What to do if you're married, and one person has good credit and
one has poor credit. (p. 45)
° If you want the absolute
cheapest loan you can get! (p. 45)
° Strategic suggesion about locking your interest rate to keep from
getting "burned." (p. 50)
° Inside Secrets and Scam
Detection. Information you won't find anywhere else. (p. 51-59)
° How to select a GOOD mortgage broker. (p. 60)
° The BIGGEST MISTAKE you can make. (What never to say to a loan officer. Common error made by first-time home buyers costs them on average $1,225.) (p. 61)
° Handy Home Buyer's Check List--print this out and take this with
you when you go house hunting! (p. 71)
° 47 vital tips for avoiding Home Buyer's Remorse. Just one that
saves you grief is more than worth getting this! (p. 75+)
"Carolyn saved us a lot of money. A big thank you!"What Other Professionals Say...
--Olga Buchanan, New homeowner, Lynnwood, WA
"Carolyn's honesty and integrity are above reproach. Through this book, you can learn how to have a good home buying experience."
--Saundra White, Underwriter, 15+ years, Issaquah, WA
"Priceless information. If you plan to buy a house, you need this."
--Rick Cashman, Banker, 15+ years, Long Island, NY
"Anyone can pick this up and understand what they need to do to become a home owner. No matter what your situation is, Carolyn gives you an easy plan for buying a home in the quickest and best possible way."
--Rene Semones, Mortgage Manager, Houston, Texas
Best Strategies For Buying a Home is now available at
a Discount. Previously, the hard copy sold for $14.95 plus $3 shipping
for a total of $17.95. The hard copy has sold out. But now
you can get the exact same information in the e-book, which has been updated for 2009, for just $8.95. This is HALF PRICE! Plus, NO sales tax and
NO shipping chrge!
Why so cheap? (I've been advised that I could be selling this
for three times as much.) Because I want every first-time home
buyer to have this vital information. I'm sick and tired of
seeing good people pay more than they need to, and this is my way of fighting the greed in
the mortgage industry.
Why This Book is Unique
There are lots of books in stores about home buying, but they don't
tell you all the insider tips and tricks you'll
get here. That's because the authors of those books
are not in the mortgage business themselves, and this
information is not within their scope of research.
Click Here To Get Your Copy Now
Carolyn Warren has over 12 years' experience in
the mortgage business. She has worked in both retail and wholesale
lending, including Ameriqest, Countrywide/Full Spectrum Lending, Green
Tree Financial, and First Franklin Wholesale Lending, a national bank
that provides money to mortgage brokers.
Currently, she works for Shelter Mortgage/Guaranty Bank (est. 1923) and is licensed to do loans in 47 states. Carolyn and her husband own a home in Seattle, where they live with their two cats, Francie and Honey.