Mortgage and Insurance

My husband and I are looking to buy our second home in February. It’ll be a new construction home that’ll begin construction in March. My CU will pre quality us over the phone, so will that be a hard pull? The house will be complete around September when we’ll get the actual loan. Will our scores be lower because of the February pull? Also my CU does not currently do VA loans, but their web site says they will do VA soon. If they still don’t do VA loans in September, can we switch to another lender? My score is currently 696 and my husband’s is 729.

bymarsmet47

We own a 2005 manufactured home purchased new from Clayton Homes and financed through Vanderbilt mortgage company. In 2005 we accepted an interest rate of 9.75% due to a slow credit problem. With the current economic slowdown, we are consistently 1 month delinquent and to make our anxiety worse, Vanderbilt sends a local representative to our home once a week to harass us . The man has spoken to my son and others in our absence. We are in communication with Vanderbilt, however they lie and write notes that there is no communication from us. Please advise us how to lower our interest rate with very poor credit and stop the wolves from coming to our house because the anxiety this is causing is fraying my nerves considerably. I shake at the sound of a car in the driveway now.

I am buying a house in GA, and I have been approved by a particular mortgage lender. I’ve been dealing with this lender for some time now, and their rates are competitive, with fantastic customer service. When we put a contract on this new home in GA, our real estate agent was aware that we had been dealing with this mortgage company, but she seemed very eager to get us to apply for a loan with a local bank. We politely declined, because we are confident in the mortgage company that we have chosen, but the next day, a representative from the local mortgage company contacted us anyway wanting to do business with us. Again, we politely declined, and we thought that was the end of it.

Upon signing the contract on the house, our agent asked for a copy of our mortgage lender’s “Good Faith Estimate” for closing costs, payments, etc… and we provided it to her. The next thing I know, this woman from the local bank is calling me up saying that she’s looking at this Good Faith Estimate from our lender, and that she sees several things that are not correct. She proceeds to tell me that we should consider going with her bank, blah blah blah. (After speaking with the loan officer at my chosen mortgage company, I have discovered this local lender’s statements were incorrect, by the way.) have never initiated contact with this local bank, and it seems as though they are practically stalking us to get our business.

My question is this: Our real estate agent admitted that she gave this local bank a copy of our “Good Faith Estimate” from our mortgage company. She did so without our knowledge or consent, and she has therefore shared our financial information with a third party without our approval. Is that illegal, or just unethical?
I know it is, at a minimum, unethical. It’s seriously brought this agent’s character and integrity into question in my mind, and now I’m wondering what else she’s done behind my back. Maybe that sounds paranoid, but I just don’t like people sharing information about how much cash we have (i.e. cash on hand for the down payment) with third parties who have nothing to do with the transaction. She obviously gets some sort of “perks” from this lender if she refers someone for a loan, and I think that’s pretty shady, too.
I never signed a contract with the Real Estate agent. The only contract I have signed was the contract to purchase the house. I’ve read through it, and nowhere does it say that she has any right to disseminate our financial information to third parties, or to try to secure financing for us.

by quapan

• vanderbilt mortgage closing cost