We received and accepted a bid from a potential buyer of our house. We obtained a letter of pre-approval from a lender. We thought it was funny that they kept pushing back the original closing date but said nothing was wrong. We finally told them that if they couldnt produce proof of financing that we would void the contract since it was past the agreed upon closing date. Then they admitted that they had no financing. My question is, how can they do this when they had a pre-approval letter from a mortgage lender? We found out from the title company that the lender was a friend of the buyer and gave the buyer the pre-approval letter. The title company also said that this was fraud and the lender couldnt do that. Is there anything we can do besides take the earnest deposit? Is it worth it to go through the hassle of it? As of It really upsets me because we basically wasted a month of potential sales and every mortgage payment that we make takes more money away from our profit.
Pulte mortgage is not making market rates available to me, they bump the rates each day by .5 to .85 percentage points. I can get my loan from another lender at the correct federal rate for the day, but Pulte will only agree to pay closing costs if I use “THEIR” mortgage company. My other lender said if I cannot agree on rate w/ Pulte they will have to return my check, but this sounds too easy to be true.
I know, I’m a sucker, I should have stayed away from Pulte – I’m trying to fix that now… but I’m hoping to not lose my 3,000.00 earnest money.
I want to pay off the mortgage on my home. I have the cash, but have been reluctant to pay off the mortgage because of the tax benefits. Is there any reason that I cannot create my own mortgage company, fund it with my capital, and re-finance through this new company? I already have an LLC that I could use for the new company (or can create a new one). I would much rather be paying interest to myself, and taking the tax benefits from the interest. I could probably get tax benefits from owning the LLC around the expenses I would incur in starting it up and running it.
What am I missing? What are the gotchas? And if possible, what do I need to do to make this work? I read that it is easy to create a private mortgage contract, so I can’t image it would be much more difficult than that. BTW, I live in Arizona, if that makes a difference.
Thanks!
is there any mortgage company that can get me 100% financing and not a high rate with a mid score of 579
a lot of lenders that i talked to said that i can get 100% financing i did get qualifief for 100% but i am looking to see if i can get a lower rate
i am in georgia
Is there a mortgage lender or bank out there that can STILL help finance those who are almost loosing their home as a last resort? Just when you think all hope is lost…
Let me know
Thanks
dismissed bankrptcy 1X but then pd in full & discharged 1/06; have paid car loan 2 yrs never late (only current credit); i am with a debt correction company for only 2 mo & some things have been deleted. now have 626, 610 & 650 credit score. I am currently saving $ 10,000 (hopefully for settlement). i make approx $ 4918 mo gross & have a p/t job ($ 450 mo-working 2 years). can i get a prime mortgage lender to finance a house ($ 150,000), what interest rate do you think i would get?
We are moving and selling the first home.
We are in good standing with the current mortgage company.
We have lived here for almost 3 years- we have had two payments that have been a few days late.
Also, will they keep us at our current interest rate?
A mortgage company want’s to finance just enough for the purchase the home. Is that standard practice or not?
I am seeking a well known or legit Mortgage Company within the U.S. that will Finance and work with Married couple with Bad Credit, No Credit, Personal Bankruptcies, Previous Foreclosure.
We were screwed before with a past Mortgage Co. that hit us with very high Interest rates and we never got ahead paying toward a home Mortgage,nothing was Ever applied to the house and just paying high interest. There is always some SCAM! On top of that, this Company wasn’t legit and taking money from people.
We researched with the BBB and contacted them.
I can not find any Mortgage company or Bank that will give us Financing for the home we are living now. Financing $ 100,000.00+
We have the income and funds to cover monthly mortgage cost.down payment,etc., but there’s always a catch!
They always want every bit of info from your life and accounts.
I’m tired of Mortgage Co.’s screwing the medium living people trying to own a home.
We see advertisements and they charge a fee, do a credit/history check- take our money and say No, but yet they say- 100% they give financing to anyone with Bad No credit Bankruptcy,etc
I’m tired of the bullshit with these Companies- half don’t even exist and very frustrated!!
Serious replies only please!
I did 100% financing and was charge 1200 dollars for a lender processing fee. Someone told me that they are not allowed to charge a lender processing fee. Is this true?