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Nombre: Corey Curwick
Nickname: FB_843369768
Miembro desde: 2009-03-18 18:26:51
URL: http://www.facebook.com/profile.php?id=843369768
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Nombre: Corey Curwick
Nickname: FB_843369768
Miembro desde: 2009-03-18 18:26:51
URL: http://www.facebook.com/profile.php?id=843369768
Sobre mi:
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Copyright © 2010 Private Money Utah
Your Private Money Broker Is Your Attorney
April 7th, 2009 at 12:31 pmjack,
Thanks for your comment. I liked what you said lastly about ‘saving a buck’. This is another area where a decently qualified and ethical broker can really add value. A lot of clients goff at the broker fee but what they don’t realize is that a good broker will go to bat for them and negotiate both interest rate and points with the lender. A client without representation is naked in front of a lender and prone to being taken advantage of. Did that sound right? ha ha!
C
Mortgage and Lending Fraud- Some Of The Most Popular Scams
March 25th, 2009 at 3:20 pmI wanted to share a comment from Ron Pippen that he left on LinkedIn.com:
Corey,
In the first scam mentioned, you are right. Disbursing in stages is the beginning. This is how we protect ourselves at Bank of Utah. Disbursements of funds are only allowed after an inspector has verified that either the work is completed or the materials are on site. We only allow a certain number of draws per month (unless they want to pay for additional inspections). This encourages the builder/buyer to not request draws for small amounts but rather save request draws for larger amounts and fewer times. This is only one reason why we have almost no foreclosures when other banks have millions of foreclosures. Other scams are simply of matter of educating the consumer. Some of these scams also plays on consumer greed. If you think you are going to get your mortgage reduced because of some technicality rather than some blatant act of the lender, the consumer is acting out of pure and simple greed. This usually gets you into trouble – and fast. Remember the motto…. “if it sounds too good to be true, it probably is!!
Would anyone like to continue this thread??