Re: [MBZ] OT - mortgages

[Mitch Haley]

OK Don wrote:

I'm in the market for a mortgage for a house we want to buy. Has anyone done
business with, or know anything about www.lendingtree.com? Are there better
on-line brokers to deal with, or should one avoid them altogther?


The main purpose of LendingTree is to put a zillion inquires on your credit 
report for the next 2 years, and to double your spam intake.

Any other online broker referral service would likely be the same.

If you can pass ridiculous scrutiny, Penfed.org is good.

Look here too:
http://www.fatwallet.com/forums/finance/788032/

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Re: [MBZ] OT - mortgages

[OK Don]

AH ha! That's the gotcha - thanks!

On Sat, Jun 18, 2011 at 11:23 AM, Mitch Haley  wrote:

> OK Don wrote:
>
>> I'm in the market for a mortgage for a house we want to buy. Has anyone
>> done
>> business with, or know anything about www.lendingtree.com? Are there
>> better
>> on-line brokers to deal with, or should one avoid them altogther?
>>
>
> The main purpose of LendingTree is to put a zillion inquires on your credit
> report for the next 2 years, and to double your spam intake.
> Any other online broker referral service would likely be the same.
>
> If you can pass ridiculous scrutiny, Penfed.org is good.
>
> Look here too:
> http://www.fatwallet.com/**forums/finance/788032/
>
> __**_
> http://www.okiebenz.com
> For new and used parts go to www.okiebenz.com
> To search list archives 
> http://www.okiebenz.com/**archive/
>
> To Unsubscribe or change delivery options go to:
> http://mail.okiebenz.com/**mailman/listinfo/mercedes_**okiebenz.com
>



-- 
OK Don
2001 ML320
1992 300D 2.5T
1990 300D 2.5T
1997 Plymouth Grand Voyager
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Re: [MBZ] OT - mortgages

[Rich Thomas]

Call 3 local banks, get their quotes, then play them off one another.  
These guys are hungry these days for customers who might actually be 
able to pay them good money, and can work the deal.  They have a bit of 
latitude around the various fees, points, and terms/rates and can get 
you a good package.  Most of them just sell off the mortgage then to 
some other outfit, except for Wells Fargo who tend to hold onto them 
(having done their due diligence well to begin with, mostly I guess).  
The woman we dealt with 3 yr with WF called me a few weeks back and said 
she could get us a much lower rate through some gubmint program (HARP?) 
that basically rolls your existing loan(s) into a new rate.  You gotta 
pay point/fees again, but the payment becomes significantly lower, or 
shorter term, whichever you decide to pick.  Hard to argue with, and she 
is dealing with all the paperwork and such, I think we had to send in 
one paper agreeing to do it.


--R

On 6/18/11 12:18 PM, OK Don wrote:

I'm in the market for a mortgage for a house we want to buy. Has anyone done
business with, or know anything about www.lendingtree.com? Are there better
on-line brokers to deal with, or should one avoid them altogther?



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Re: [MBZ] OT - mortgages

[Mitch Haley]

Mitch Haley wrote:


Look here too:
http://www.fatwallet.com/forums/finance/788032/


Hmmm, looks like the first page summary hasn't been updated in years. I guess 
you should read the last page and work forward from there. Probably learn all 
that's useful if you read the last 5-10 pages.


http://www.fatwallet.com/forums/finance/788032?lastpage=1


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Re: [MBZ] OT - mortgages

[OK Don]

I noticed that. I think I'll stick with the local banks --

On Sat, Jun 18, 2011 at 11:44 AM, Mitch Haley  wrote:

> Mitch Haley wrote:
>
>  Look here too:
>> http://www.fatwallet.com/**forums/finance/788032/
>>
>
> Hmmm, looks like the first page summary hasn't been updated in years. I
> guess you should read the last page and work forward from there. Probably
> learn all that's useful if you read the last 5-10 pages.
>
> http://www.fatwallet.com/**forums/finance/788032?**lastpage=1
>
>
>
> __**_
> http://www.okiebenz.com
> For new and used parts go to www.okiebenz.com
> To search list archives 
> http://www.okiebenz.com/**archive/
>
> To Unsubscribe or change delivery options go to:
> http://mail.okiebenz.com/**mailman/listinfo/mercedes_**okiebenz.com
>



-- 
OK Don
2001 ML320
1992 300D 2.5T
1990 300D 2.5T
1997 Plymouth Grand Voyager
___
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Re: [MBZ] OT - mortgages

[Dan Penoff]

Don't forget credit unions, too.

Our local CU has very competitive rates and products, not to mention they are 
very good to work with.

After all, we're not just a depositor, we're an owner.

We are getting closed to wrapping up a short sale (hopefully!) and have the CU 
on the hook with everything poised and ready to go.

I can call my loan officer directly, ask questions, etc., whenever I want.

They are so much easier to work with, not to mention that we pay nothing in 
fees for our bank accounts, and we even earn interest on them (albeit MIT much 
these days...)

Dan

Sent from my iPhone

On Jun 18, 2011, at 1:25 PM, OK Don  wrote:

> I noticed that. I think I'll stick with the local banks --
> 
> On Sat, Jun 18, 2011 at 11:44 AM, Mitch Haley  wrote:
> 
>> Mitch Haley wrote:
>> 
>> Look here too:
>>> http://www.fatwallet.com/**forums/finance/788032/
>>> 
>> 
>> Hmmm, looks like the first page summary hasn't been updated in years. I
>> guess you should read the last page and work forward from there. Probably
>> learn all that's useful if you read the last 5-10 pages.
>> 
>> http://www.fatwallet.com/**forums/finance/788032?**lastpage=1
>> 
>> 
>> 
>> __**_
>> http://www.okiebenz.com
>> For new and used parts go to www.okiebenz.com
>> To search list archives 
>> http://www.okiebenz.com/**archive/
>> 
>> To Unsubscribe or change delivery options go to:
>> http://mail.okiebenz.com/**mailman/listinfo/mercedes_**okiebenz.com
>> 
> 
> 
> 
> -- 
> OK Don
> 2001 ML320
> 1992 300D 2.5T
> 1990 300D 2.5T
> 1997 Plymouth Grand Voyager
> ___
> http://www.okiebenz.com
> For new and used parts go to www.okiebenz.com
> To search list archives http://www.okiebenz.com/archive/
> 
> To Unsubscribe or change delivery options go to:
> http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com

___
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Re: [MBZ] OT - mortgages

[OK Don]

I'd forgotten them. The last time I went to them for a new car loan (1997)
they were more expensive than a local bank, but it's worth checking.
Thanks --

On Sat, Jun 18, 2011 at 4:04 PM, Dan Penoff  wrote:

> Don't forget credit unions, too.
>
> Our local CU has very competitive rates and products, not to mention they
> are very good to work with.
>
> After all, we're not just a depositor, we're an owner.
>
> We are getting closed to wrapping up a short sale (hopefully!) and have the
> CU on the hook with everything poised and ready to go.
>
> I can call my loan officer directly, ask questions, etc., whenever I want.
>
> They are so much easier to work with, not to mention that we pay nothing in
> fees for our bank accounts, and we even earn interest on them (albeit MIT
> much these days...)
>
> Dan
>
> Sent from my iPhone




-- 
OK Don
2001 ML320
1992 300D 2.5T
1990 300D 2.5T
1997 Plymouth Grand Voyager
___
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For new and used parts go to www.okiebenz.com
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Re: [MBZ] OT - mortgages

[Dan Penoff]

The rates at our CU are competitive, as well them having an in-house title and 
real estate group that gives discounted fees to members.

We will save about $1500 on our closing costs due to this.

I did shop around for better terms/rates but didn't find any.

Another nice thing is their ability to offer non-traditional products, such as 
a 20 year mortgage. I couldn't find any any local banks that would do a 20 year 
note - they would only do a 15 or 30 year note.

Dan

Sent from my iPhone

On Jun 18, 2011, at 6:11 PM, OK Don  wrote:

> I'd forgotten them. The last time I went to them for a new car loan (1997)
> they were more expensive than a local bank, but it's worth checking.
> Thanks --
> 
> On Sat, Jun 18, 2011 at 4:04 PM, Dan Penoff  wrote:
> 
>> Don't forget credit unions, too.
>> 
>> Our local CU has very competitive rates and products, not to mention they
>> are very good to work with.
>> 
>> After all, we're not just a depositor, we're an owner.
>> 
>> We are getting closed to wrapping up a short sale (hopefully!) and have the
>> CU on the hook with everything poised and ready to go.
>> 
>> I can call my loan officer directly, ask questions, etc., whenever I want.
>> 
>> They are so much easier to work with, not to mention that we pay nothing in
>> fees for our bank accounts, and we even earn interest on them (albeit MIT
>> much these days...)
>> 
>> Dan
>> 
>> Sent from my iPhone
> 
> 
> 
> 
> -- 
> OK Don
> 2001 ML320
> 1992 300D 2.5T
> 1990 300D 2.5T
> 1997 Plymouth Grand Voyager
> ___
> http://www.okiebenz.com
> For new and used parts go to www.okiebenz.com
> To search list archives http://www.okiebenz.com/archive/
> 
> To Unsubscribe or change delivery options go to:
> http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com

___
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Re: [MBZ] OT - mortgages

[redghost]

avoid all together.  Best find a good local broker who can source a  
loan from a reliable bank or lender.  Interest rates are low enough  
that you should be able to get a decent loan if you have adequate  
credit worthiness.



clay

Gump - She is green, simple and runs and runs
Cleo - Used by the Queen of Denial
POS SDL - Beware Nigerian Scammers




On Jun 18, 2011, at 9:18 AM, OK Don wrote:

I'm in the market for a mortgage for a house we want to buy. Has  
anyone done
business with, or know anything about www.lendingtree.com? Are there  
better

on-line brokers to deal with, or should one avoid them altogther?

--
OK Don
2001 ML320
1992 300D 2.5T
1990 300D 2.5T
1997 Plymouth Grand Voyager
___
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Re: [MBZ] OT - mortgages

[Kaleb C. Striplin]

You should email Regina she is/was in real estate and has a lot of lending 
connections

Sent from my iPhone

On Jun 18, 2011, at 8:56 PM, redghost  wrote:

> avoid all together.  Best find a good local broker who can source a loan from 
> a reliable bank or lender.  Interest rates are low enough that you should be 
> able to get a decent loan if you have adequate credit worthiness.
> 
> 
> clay
> 
> Gump - She is green, simple and runs and runs
> Cleo - Used by the Queen of Denial
> POS SDL - Beware Nigerian Scammers
> 
> 
> 
> 
> On Jun 18, 2011, at 9:18 AM, OK Don wrote:
> 
>> I'm in the market for a mortgage for a house we want to buy. Has anyone done
>> business with, or know anything about www.lendingtree.com? Are there better
>> on-line brokers to deal with, or should one avoid them altogther?
>> 
>> -- 
>> OK Don
>> 2001 ML320
>> 1992 300D 2.5T
>> 1990 300D 2.5T
>> 1997 Plymouth Grand Voyager
>> ___
>> http://www.okiebenz.com
>> For new and used parts go to www.okiebenz.com
>> To search list archives http://www.okiebenz.com/archive/
>> 
>> To Unsubscribe or change delivery options go to:
>> http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com
> 
> 
> ___
> http://www.okiebenz.com
> For new and used parts go to www.okiebenz.com
> To search list archives http://www.okiebenz.com/archive/
> 
> To Unsubscribe or change delivery options go to:
> http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com

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Re: [MBZ] OT - Mortgages

[Rich Thomas]

I don't know what it was, that sort of detail is below my interest 
threshold.  It was for whatever the current amount is/was.  3 yr ago we 
bought this place and I worked a coupla mortgage hawkers, and got Wells 
Fargo to give me the best deal (it is fun playing those guys off one 
another).  A coupla months ago the woman calls me up and says she can 
redo our loan to a better rate, take advantage of the low rates now, so 
I say OK give me the details.  Turns out it is something called "HARP" 
which I think is some gubmint thing to refinance mortgages to get lower 
rates.  Whatever, doesn't matter, WF still holds the loan (turns out WF 
does not sell off most of their loans, they do a good job up front then 
hold on to them) but somehow gets the gubmint program.  We get the low 
rate for 20yr, one point or something, it is all rolled into the new 
loan amount, turns out somehow for some reason we will get a check for 
$385 next week after doing all this.  Go figure.  And they roll the 
Wind&Hail insurance (have to have that in SC) into the escrow, which it 
was not before, and the whole monthly payment ends up being quite a bit 
lower even with that.  I guess I don't really care what all the details 
are, I signed about 20 different papers, all of which appeared to be 
exactly the same stuff I signed 3 yr ago, and that was that.  Everybody 
happy.


Our Merrill Lynch woman called about the same time, offering up 
something similar.  Difference was they would have to get a new 
appraisal, the rest was all similar, and with the RE values in the tank 
that would not have made for Happy Times.  The WF thing did not need 
that, it was just a loan rollover of some sort.


--R

On 6/25/11 9:48 AM, andrew strasfogel wrote:

Jumbo or petite  loan?

On Sat, Jun 25, 2011 at 9:44 AM, Rich Thomas<
richthomas79td...@constructivity.net>  wrote:


Wow, that is pretty good.  We just did a refi yesterday at 4.25%, which I
though was a good deal.  Dropped our payment quite a bit for a shorter term
too.

--R

On 6/24/11 9:10 PM, OK Don wrote:


Mean time, my wife went shopping
at several local banks, came home approved for a 3.8% loand - I just had
to
add my signiture to the papers. Fast, pleasant, curtious, nd effecient
process (so far).



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Re: [MBZ] OT - Mortgages

[Allan Streib]

Rich Thomas  writes:

> turns out WF does not sell off most of their loans, they do a good job
> up front then hold on to them

All my mortgages have eventually ended up being sold TO Wells Fargo.

Allan
-- 
1983 300D

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