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About willtygart

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    Impressive 100+ postings


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    Mortgage Guy

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    PNW Washington
  1. You received this money because title companies are now padding their fees ont he HUD-1 to keep from having to come after borrowers if they make a mistake on their calculations. Many home owners were being hounded by the title companies after closing and given bills for up to 500 bucks because the people calculating the final closing numbers were off. This is why sometimes your GFE looks different when you finally go to close.......more often then not the LENDER or BROKER was correct in his/her fees...but the title company ADDED these fees. My company has had problems with this of late becaus eit changes at the last minute what our docs have to be set at. We have stopped using more then one title company because fo this and for the most part your loan officer looks bad at the end when you get told the fees are actually higher. At that time he/she is the villian and when they get the check from title , the title company is the hero. With the advent of bundled services which will take place this year you will see more and more GFE's being to the penny and less and less discrepencies and money going back to the borrower.
  2. willtygart


    Beatboy, they dont let me PM anyone here so you'd have to call or email me...sorry about that. Do a search for "mortgage answers" and I'll be on the top of the list on the search engines. Talk to you later.
  3. willtygart


    On the addition, look for a 203k, fannie mae home style loan, or a refi that will allow for an escrow hold back for the amount needed for the work. Always remember when doing any construction that may add value to your home...you can either figure the loan to value on the appraised value of the home PLUS the money needed to do the additions or the FUTURE value of the home...whichever is less.
  4. How can anyone get excited about getting a subprime loan? How can anyone talk about working on their credit and then take the first approve that comes to them? I can talk til I am blue in the face but everyone seems to want the quick fix. As if anyone will miss me here.........but I am leaving this board. I have never seen a board ANYWHERE be a promotional guide for a loan officer. I really wish some of you would take the steps to work on your situation and empower yourself. I will take a bashing for this but since I wont be back and this will get deleted who cares. Subprime is what a begginer learns when he gets into mortgage. It is the easy stuff and we make tons of cash on it. We know you wont shop us because you are afraid of losing your home. Nothing we do on the subprime level is special..we take the application, fill you with bs, and then submit you to 10 lenders and pray for the approval just like you do. Check with you local brokers and banks and shop your lender. Just because a guy is online (and this includes myself) doesnt meen we know a hill of beans. Put together a VA loan or an FHA loan........turn a subprime guy from a 9% loan to a 6.5% no cost loan....THAT is the guy that should be praised. We (loan officers) get a bunch more money from sub prime lenders...the reason is because you came in sub prime and you will most likely remain sub prime and they will make tons of money off of your interest. I am expecting a bashing on this one which is ok because this is not the board for me. I want to empower and educate people..not make money off of them. If you go on any of these boards or forums and are serious about making your life and your families financial situation better then work on your credit and finances and THEN get a home loan. I have seen divorces, BK, foreclosures, and tons of situations that could have been avoided. You dont HAVE to be the latest to post that you bought a home on the forums.......If you just got here and are working on your credit make your goals as far as credit scores and debt levels go and stick to them........hope everyone accomplishes their goals this year...see you guys later.
  5. Yes I read your post in full..which is why i suggested the FHA becaus eit allows for extenuating circumstances in some cases. Not sure what I missed in there.
  6. You can assume it if it is an assumable loan. SOunds liek I am beign a little bit of a smart butt here but if it is a VA, FHA, or an older loan that was assumable then yes you could assume it. If your scores are where you say they are and you can qualify on income then you can get the loan on your own merits. I dont think that anything the current mortgage holder has as far as a rate agreement could keep them from selling the home to you. Now if they sell the home for 30k less then what it is worth you will still need to get a loan that is based on the PRICE of the home...and know that you are just getting a good deal. What I mean is that you arent going to get any "credit" from the lender as far as a 100k house selling for 80k meaning 80%ltv.......post a reply if you are confused on what I just said. I would liek to see you maybe get into a FHA loan or go throguh someone that can let you obtain a loan and then a month later use new value and no cost refi you. Brokers are normaly out of this scenario unless it is an FHA or VA loan. I dunno if this helped but ask some more if I confused me.....er you.
  7. Depending upon the county you are in and the amount down you are looking for and of course the home price range ....you MAY be an excellent canidate for an FHA loan. There are some limits that go up to 280k in FL but there are only a few counties like this. Your score now with a down payment can get you FHA and if you get about 30 points higher it can get you into fha with no money down. If you are looking for the bigger price range homes then FHA is not going to be the one for you. Slide me some more info and we'll work this thing on the forum so others with similar situations may benefit.
  8. I heard a comment on another forum that mortgage brokers were "lazy car salesmen"............I dunno if that is a stereo type or not but after scratching my head I kinda knodded and thought there might be something to that. I am not sure if that comment was insulting to mortgage brokers..or car salesmen.
  9. You guys are causing such a wave that I was sent this by one of the lenders I used to use. Check it out..I am curious to see what you guys think about this and if any of you have used your credit reports like this. http://www.willtygart.com/PA_04_03.pdf SO>>>>>>>>>>>>>>>>>if you use the mortgage guys credit report to dispute stuff..looks like they'll take our credit pulling rights away.
  10. willtygart


    Check with the lender that has the note now. Tell them that you would liek to refi the home and want to give them first shot. See if they will modify the loan and then not charge the prepay. If they say no then have a broker/banker look at yer loan and run some scenarios as far as the break even point of soing a refinance including your future goals and real estate market place. A decent guy can give you the advice you need and provide a solution (whether that is refinancing or staying put)..if you do look for a mortgage broker/banker then shop them for knowledge and products...and the rate and fees will fall into place. Remember that the lowest rate quoter is the best liar.
  11. It's NEVER as bad as you think it is. Deep breather and yer fine. If Charles is busy and you need someone bad you can get ahold of me if you need some answers real quick even if you want to use charles for your loan. DOnt pm me,mine doesnt work. 8664361379 (this is only to help.....not a solicitation)
  12. I REALLY appreciate your considering using my services but remember that there are several lenders in your area and even your own town that can help you out. Because Charles or I post on boards doesnt mean we are any better then anyone else. I always like people to check with their local bank as well as a local broker or two. I am able to do loans in all 50 states myself but that being said, there is NOTHING that I do that is not abole to be done by a guy in NV. www.mtgprofessor.com has a list of decent brokers that are in NV if you want a couple of brokers to check with as well. So basically I CAN do your loan but you don;t NEED me to get it done....if that makes any sense. AND.....if you are working with a loan officer or just want questions I am more then willing to do this as well..........but I can't stress enough that you don't NEED an online mortgage guy that goes to a forum and answers posts
  13. My Dad is an accountant Wolf...I thought we were going to be able to be friends but now that I know this abotu ya I dunno if it's gonna work. kidding aside remember that it all boils down to the Golden Rule.
  14. Gimme 4 points and I will not only do your loan but i will help you move in, stencil your name on the curb, and put up your new mailbox in the front yard. When the lender said you needed 4 points you should have replied with one digit. Seriously though I am joking around here and I want you to know that as a borrower you are NOT expected to know these things and I am by no means picking on you. You made the step of coming to the forums and finding the answers..I hope you stick around and learn from Bruce and Clark as this is a pretty decent board. Wolf......what can I say buddy I like yer 'tude.