ED Help! Mortgage Broker is making me crazy! - Posted by Sharee

import · July 17, 2001, 10:28pm

Posted by Zidzi on July 18, 2001 at 01:03:38:

Sharee
It seems to me that you CANNOT AFFORD TO STAY WITH THIS BROKER! Sometimes Brokers can hold you back, cost you a good deal, the opportunity, time and lots of money…if you let them.

My two cents worth:

You should have copies of just about everything your broker has. Take this together with a copy of the last credit report you may have and go to another broker. Have a heart to heart talk, outline your expectations, ask for references to ensure he has done loans similar to yours because you don’t want to be anybody’s test case given your time frame.

Your credit score should not be affected if it is pulled this once after the Broker has checked out everything else and established that he can in fact do the loan subject to pulling credit for an up to date report. (I am assuming there have been no major changes in the financial aspects of your life).

Don’t rule out the possibility of looking for a lender yourself especially given all the advertising on the internet. Someone that I have enjoyed chatting with from this site drew my attention to one today and I will take the liberty of emailing you that info.

DO also go to the forum on Mobile Homes on this site and see whether you can get some pointers there.
During the Lenders’ seminar in June there was a whole session on Mobile Home Parks that was presented by Ray. I am sure there are a couple of solutions to your current dilemma. I will look thru’ my notes and email you whatever I find that might be useful.

Sharee, remember,it is always darkest before dawn. You will get thru’ this with success.

Let us know when you close so we can share a toast.
Zidzi

import · July 17, 2001, 10:28pm

ED Help! Mortgage Broker is making me crazy! - Posted by Sharee

Posted by Sharee on July 17, 2001 at 22:28:14:

My husband and I contracted to buy 11 acres from a private owner with no money down. We pay monthly payments and all taxes for the last 7 months. We approached a mobile home dealer at the start and told him we wanted to do a land home package although we had a few credit issues he seemed to think all would go well. To make a long story short, we are 7 months into this land contract, even bought a fax machine to send all docs to broker and NOW they say that although we are approved for the loan they cannot find an appraiser to appraise at what they need! Needless to say we have already pulled all permits, done most of the property research in the area and the dealer has gone so far as to break down the home for transport. We have invested over 6000.00 in the land and can’t believe that at this late date we are once again at square 1. Any suggestions? We can’t go with another broker as it will pull our beacon scores even lower and cannot afford to delay this for another 7 months!
I appreciate any ideas anyone has.

import · July 18, 2001, 4:40am

Re: ED Help! Mortgage Broker is making me crazy! - Posted by Bruce Lawson

Posted by Bruce Lawson on July 18, 2001 at 04:40:32:

Hi Sharee,

You can get your score from www.equifax.com for $11.90 and take it with you to another broker,this service will not place another inquiry on your report. Tell that new broker not to pull credit until you have made the deal then they can pull a copy for their files.

Sincerely,

Bruce Lawson