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Allisclio2000 · Joined: 19 Dec 2007 Posts: 1 1.45 Dollars($)

We have heard horrer stories and want to make s ure the lender we have isn't looking for a loop hole to take your home? Please let me know Thanks Chasen

jenkin7 · Posted: Wed Dec 19, 2007 10:26 pm Post subject:

Hello Allisclio,

It is indeed difficult to search for an honest lender. But you should do that in order to avoid complications in future.

Friends, family and sometimes realtors sometimes prove to be a reliable source of information about lenders. People who have used mortgage lender services will be able to give you genuine information.

You should check the license as well as the other testimonials of the lender and know in details about the services they provide.

The lender should be able to guide you properly and should explain everything clearly to you. Check the interest rate that he is offering. The fees and closing costs required by the lender should be reasonable and he should give you a Good Faith Estimate with the details of the closing costs.

You will get further information on how to select a lender here at http://www.mortgagefit.com/choose-lender.html

Hope this helps you. Feel free to ask if you have any further query.

Samantha · Posted: Thu Dec 20, 2007 6:04 am Post subject: RE: finding out the right lender

Hi Allisclio,

I think you are about to buy a home, and that's the reason you are looking to get a mortgage. Is that so? Well, if that is it, then let me tell you, it's not a horror for everyone. I've heard of loan officers and lenders holding seminars on home buying and mortgage just to educate common people who are about to get the loan to purchase a home. Even various organizations come up with such home buying seminars in different states. i don't know from which state you are but you can try to attend it once.

Now, when it comes to choosing the right lender, I would agree with the points jenkin has mentioned. The thing is, you don't end up dealing with a lender who takes out money from you in terms of hidden charges or doesn't co-operate with you when you are in trouble with your payments. So, when you are to select the lender, you need to see how well he is guiding you in the process. One has to take some risk, it happens that some people are satisfied with a lender's services whereas others aren't. So, one has to take the risks and approach a lender.

Moreover, you need to see that the lender is providing you with right disclosures - in this regard what is important is to make yourself aware of the mortgage process.

Hope this helps...If you have further queries, please feel free to ask.

God bless you

Samantha

brad · Posted: Fri Dec 21, 2007 7:31 am Post subject:

I work with many different lenders across the country and most are honest. You can interview different lenders and even check their credentials. It sounds to me that you are not purchasing but looking to refinance.

If you have questions you can email me at "brad@accesslendinginc.com" or post them here and I would be glad to help.

[Email address deactivated as per forum rules. Thanks.]

banker0679 · Posted: Fri Dec 21, 2007 9:34 am Post subject:

we have a lender list.....you should be able to find one in your state!

rick · Posted: Sun Dec 23, 2007 11:36 am Post subject:

I can recommend a great book, "Mortgage Rip-offs and Money Savers" by Carolyn Warren. You can Google her name and get to her website where she provides great advice. Another place to go to check out mortgage brokers who adhere to a higher standard is "upfront mortgage brokers."

Good luck,

Rick

gmakerley · Posted: Wed Dec 26, 2007 1:29 pm Post subject:

not just me, but every one of the lenders here is likely to claim to be the honest and upright lender you wish to find. only you can make that decision, frankly.

however, you can do several things to make that determination. certainly, if you have legal counsel, that person or persons would likely have a good idea about how a mortgage lender treats its clientele. of course, you may also have friends and associates who have been down the mortgage road, and whose experiences you can glean from.

before you commit to a lender, do your research. dont waste a lot of peoples' time, of course, by allowing several different lenders to think they have a customer in hand; but do your homework.

i would love to be the lender of choice for all of my potential clients, but i also recognize that it is not possible. some of those who promise the world and deliver nothing at all have a wonderful patter; and that influences a great portion of our population.

if you lack discernment at this time, you may want to pray for it.

shayneroy · Joined: 12 Nov 2007 Posts: 51 21.08 Dollars($)

I must say, this is one difficult question for us to answer. I won't deny the fact that there isn't any predatory lending happening out there but the media is one source which only adds gasoline to the fire, it isn't so bad out there. Any lender / Broker that you decide to work with will provide you the Good Faith Estimate for your perusal and a final HUD settlement statement will always tell you the exact cost involved in doing the loan.

gmakerley · Posted: Thu Dec 27, 2007 12:43 pm Post subject:

shayne, i dont disagree with your final statement about the GFE and the HUD-1, but by the time a HUD is prepared, it will be too late for this borrower (or any) to determine whether the deal they have entered into is worthwhile or not.

a determination has to be made much earlier in the process as to who your lender of choice will be. if you can't rely on friends or family, one would hope you have a lawyer who might have a decent set of references.

brad · Posted: Thu Dec 27, 2007 3:10 pm Post subject:

The best way to go about these types of situations is to speak with a freind or family member that has recently purchased or refinanced a home. You will find that other peoples experiences are the best way to rate who you are doing business with.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

I work with many honest lenders. Over 13 years I have learned who is good and who is not. We only work with the largest and most reputable companies. I can find the one that i know you can trust and also has a low fixed rate. For example, one major lender that I work with has a rate of 5.50 on a 30 year fixed rate.

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Does anyone know who would be an honest lender for a mortgag