2daysbestrates.com a full service lead generator for Heritage Lending a dba for American Home Lenders. Realizes many different types of products and solutions are as important to prospect as they are to the lead client. 2daysbestrates.com provides leads ranging from purchase money mortgages and mortgage refinance transactions to mortgage modifications in many different demographics.
Specializing in lead generation for purchase mortgages, refinances, FHA mortgages, and mortgage modification solutions; If a borrower cannot qualify for a conventional refinance mortgage because of a recent hardship or their rate has escalated and they are upside down in the property, they may qualify for the mortgage modification or one of several modification solutions. Short sales can also be negotiated if the seller has a contract. Realtors are not allowed to be compensated for a short-sale (outside their real estate commission) unless they are licensed and regulated under that state's mortgage banking laws.
A modification of any kind where a fee is charged to and/or by any interested party is governed under the state's banking laws. Folks doing this are out of compliance, and it will catch up to them in the end. Rates are low, but more importantly prices are low. If your job is stable there are some excellent home ownership opportunities out there. Additionally, this means some wealth building opportunities during some very bleak looking times. It is very important to look at where home values have been before hypothesizing where they will go. Not only is retracing inflated values important, but also a knowledge of unemployment in the specific market is key.
If you do not have money to put down, look at local, state, and federal grants. If grants are not available look hard at FHA, and VA loans if applicable. Make sure you when talking to a loan specialist you understand how they are compensated. Upfront fees are not always a bad thing as long as you understand other standard fees, junk fees, and yield spread premium.
Transparency in the transaction will spell for a happy borrower, and happy borrowers mean repeat business and word of mouth new clients. No points don't always spell the best deal, but either does buying your loan down. Look at the big picture and ask pointed questions that you can later hold your specialist accountable. Don't be afraid to walk away from a deal because you are an informed borrower making a rationale and intelligent decision.