Resolved Question: what about mortgage refinancing nowadays?

I bought several houses in my time and therefore thought I was an "expert" on getting a good mortgage. Now I'm looking for a straight answer on the best refinance rate, and a mortgage broker says pricing on loans includes factors that "were not there even one year ago", such as: FICO score, loan to value, loan amount, occupancy, etc." Can a mortgage rate vary according to my FICO score (or would I just be rejected if my score is too low)? What's going on? Why is it so hard to get a mortgage rate out of a broker or a web site? btw, I have great credit, 80% equity, live in the house, and want to re-fi $117k, in NC. more

Voting Question: how do I get a grant or scholarship for school?

Im am a single mother working part-time. I am wanting to go to college to start my career in either mortgage broker, or maybe crimial justice. I live in charlotte, nc. Thanks more

Resolved Question: NC and SC realtors!!!?

I will be entering the broker side of mortgage origination next week. My question is how many NC/SC realtors have preferred lenders/brokers they work with? These are two states where I really don't know people through my previous work with a title company. How difficult is it to start working with a realtor in this area? I would like to start networking the area to see who I can assist and I can provide references on a national scale if necessary. Any advise would be greatly appreciated more

Resolved Question: Has anyone every heard of Royal Lending Group out of NC?

I have looked this company up on bbb.com but I'm not real sure how to read this information or to know if this company is legit...... Royal Lending Group The BBB reports on businesses, both accredited and non-accredited. If an organization is a BBB Accredited business, it is stated in this report. Name: Royal Lending Group Phone: (866) 569-0684 Address: 485 Fields Dr. Sanford, NC 27330 Website: www.royallendinggroup.com Principal: Owner/ Manager Customer Contact: Owner/ Manager - (866) 569-0684 File Open Date: February 2008 TOB Classification: Loans, Mortgages BBB Accreditation: This organization is not a BBB Accredited business. The BBB develops a full report BBB Definition: report - A summary of activity reflected in a company's BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB. on a firm based on inquiry or complaint activity. This company first came to our attention in February 2008. We are attempting to develop more information on the company. At the present time we do not have enough information to issue a full report BBB Definition: report - A summary of activity reflected in a company's BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB. . The BBB suggests you read and understand company promotional materials and contracts and check company references and licensing, where applicable. Customer Service Contact Owner/ Manager is the complaint contact person for this company and should be contacted at (866) 569-0684 before filing a complaint with the BBB. Customer Experience The BBB processed a total of 0 complaints about this company in the last 36 months, our standard reporting period. Licensing This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. The BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met. Industry Tips Refinancing Loans If you are considering refinancing, the Better Business Bureau suggests you shop around, compare prices and negotiate. But also move with caution when dealing with some lenders. To help you decide if refinancing is for you and to help you prepare to approach a financial institution, the BBB offers these tips. When you refinance your home, you simply apply for a new mortgage at the lower rate in order to pay off the old loan. This means that, for many lenders, you will again be required to pay most of the costs you originally incurred to get your first mortgage - loan application fees, title search, appraisal, credit check, lawyer's services, discount points (in many cases) and other finance charges. Before you go through the expense of refinancing, check the interest rates to make sure they have dropped to a level that makes refinancing worthwhile. Conventional wisdom states that a two or three percent difference between the rate on your current mortgage and the new rate over a period of time - generally several years - usually offsets the costs you must pay at closing. The ultimate amount you may save depends on many factors, including your total refinancing, whether you sell your home in the near future and the effects of refinancing on your tax situation. If you decide to refinance, obtain information from several lenders. Knowing just the amount of the monthly payment or interest rate is not enough. Ask for information about the same loan amount, loan term and type of loan so that you can compare the information. Also, be cautious of smooth-talking lenders that contact you offering easy credit, guaranteed low-interest loans or loan terms that sounds too good to be true. Fraudulent lenders often prey on people who are desperate for cash to pay bills, make home repairs or who do not understand the mortgage loan process. Their loan terms can include excessive fees, high interest rates and provisions that can make it expensive for you to get out of the loan. If a lender asks for an up-front fee before you can obtain the loan, look elsewhere. Be sure to check with the Better Business Bureau and your state attorney general for a reliability report BBB Definition: report - A summary of activity reflected in a company's BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB. on the lending institution (s) you are considering. Once you know what each lender has to offer, negotiate for the best deal that you can. Have the lender or broker write down all costs associated with the loan. Be sure to read the loan documents carefully and be certain that all spaces are filled in before you sign them. Always assume that any document you sign is a contract. If you do not fully understand it, do not sign it! Mortgage Choices Shop, Compare and Negotiate -But Move with Caution When Refinancing Your Mortgage Report as of March 4, 2008 Copyright© 2008 BBB®, Inc. If you choose to do business with this business, please let the company know that you contacted the BBB for a report BBB Definition: report - A summary of activity reflected in a company's BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB. . BBB reports may not be reproduced for sales or promotional purposes. The information in this report has either been provided by the company or has been compiled by the BBB from other reliable sources. As a matter of policy, the BBB does not endorse any product, service or company. BBB reports generally cover a three-year reporting period, and are provided solely to assist you in exercising your own best judgment. Information contained in this report is believed reliable but not guaranteed as to accuracy. Reports are subject to change at any time. more

Resolved Question: Why is there a stigma on Mortgage Brokers?

I'm a very hard working, honest mortgage broker for NC, MD and PA. But, there is a natural stigma against brokers. I understand there is always a "bad seed", which is the case in ANY field. Most times, a broker is the best option for a refinance, since we can shop MANY lenders guidelines to find the right loan. Whereas a lender only has their guidelines - you fit it or they turn you down. Please help me understand this, from your experience. more

Resolved Question: Do I have to have a good credit history to become a mortgage broker?

I see that many training programs pull a credit history. I have a bankruptcy (2+ yrs ago) and I'm wondering of this will cause problems getting licensed in NC. more

Resolved Question: How do I become a Mortgage Broker?vgna?

Studies, licenses needed in state of NJ, NC, FL, and NY, amount of money if any more

Resolved Question: does anyone know of a mortgage broker in South Carolina?

I live in Clover, SC. This is 15 minutes outside of Charlotte, NC. I am trying to get land/home deal and need assistance. more