How to Choose a Mortgage Lender

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This presentation covers important details on how to choose a mortgage lender. Visit ForeclosureDataBank.com to get further information on foreclosure real estate.

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How to Choose a Mortgage Lender

  1. 1. How to Choosea MortgageLenderAlthough the American mortgage industry is Contents Introduction………………............……1very competitive these days, the principle of Track Record................................…2beware the buyer still applies and cheap is Service Levels.....................……..…..2still seldom best. A wise decision is one that Lendings Fees.....................……..…..2considers all of the following factors, and in a Interest Rates.....................……..…..3balanced way too.
  2. 2. 2 Track Record Any lender who willingly plundered American homeowners before the financial crisis for a cheap buck is definitely a no-no. There are enough responsible corporations out there from which to choose. Googling for “lender name” plus “complaint” picks out the bad ones real quick. Service Levels Does the lender have an office in your hometown where you can talk to real people not call centers? If they do have one, pop by and try them out for friendly advice like free counseling and educational handouts.Lending FeesHigher lending fees mop up the benefits of lower interestrates. Ask probing questions and then ask the lender fora written all-in quote. You will be surprised at what popsout in writing that was not even mentioned at theinterview. When this happens, chances are you could bedealing with a cowboy lender.
  3. 3. 3 Interest Rates After you have identified five lenders that checked out okay so far, you can get down to the serious business of negotiating interest. Do not sniff at an offer of a quarter percent below a lender’s normal rate. It can add up to a handy sum.Foreclosure DataBank Although the Treasury Department does its best to1602 Alton Road #432 regulate the financial services industry these days, there aMiami Beach, FL 331391-888-596-9279 smart guys out there, figuring ways to make more moneycontact@foreclosuredatabank.com from their customers. That means shopping with yourThe biggest foreclosures database on the web brain switched on, and your radar finely tuned forFind us on the Web: bargains. After you have made your choice, why not sniffwww.ForeclosureDataBank.com around for a foreclosure bargain at ForeclosureDataBank.com?

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