What You Don't Know About The Real Estate Process, Some Inside SecretsSome people in the real estate industry have a terrible reputation. Why, because they deserve it. A lot of hard earned money trades hands and if things go wrong that leaves a very bitter taste in the injured parties mouths. In real estate most people stay in the house for a long time. If they don't, many times they sell the house themselves or quite often deal with different professionals the next time around. This doesn't always mean they were dissatisfied the first time. Sometimes a new agent sells him or herself. Believe it or not sometimes the property will be listed and a seller and buyer meet. Then when the listing expires, guess what. The mortgage company is usually the one that profits most from the transaction. Sometimes the seller makes a pretty nice profit. In my opinion agents and brokers usually make too much money for the service they are supposed to provide. For example a broker can make $18,000 or more on a $300,000 house which is no more work, in fact usually it is less work than a $50,000 property. The other professionals, excluding the mortgage company, charge a very small set fee. An appraiser only gets $300 to $400 which is regulated by VA (for VA loans) and the market. The attorneys, surveyors and inspectors get even less. If they charge more, most agents will use someone else. Two things are collected up front at the mortgage company. An appraisal fee and credit report fee. Many times the purchaser has been overcharged for these fees. Always check your settlement statement. They are also told that the appraiser has to be paid up front when the truth is, many times the appraiser isn't paid for several months. Last year it was brought to my attention by some refinancers that their loans had been delayed because the lender didn't have the appraisal. I told them they did have the appraisal. Then the homeowners contacted me and told me that after four months of not closing, the officer left the company, went somewhere else and wrote a letter of apology. He stated that the manager had instructed him to stall the loan in anticipation of a rate incease. Suzie is a licensed real estate broker and certified residential appraiser with 20 years experience. Other professionals have contributed as well. http://www.freewebs.com/realestatenews
MORE RESOURCES updated Fri. April / 26 / 2024 Mortgage Refinance Rates: Compare Current Rates Business Insider 10-year refinance rates: What to know about the current market CNN Underscored Should You Refinance Halfway Through Your Mortgage? Bankrate.com How to Refinance Your Mortgage NerdWallet Mortgage Interest Rates Today, April 26, 2024 | Are Homebuyers Adjusting to Higher Rates? Business Insider Loan Modification Vs. Refinance Bankrate.com 30-Year Mortgage Refinance Rates Business Insider Mortgage Interest Rates Today, April 24, 2024 | Rates Still Slated to Go Down This Year Business Insider 15-Year Mortgage Refinance Rates: Compare Current Rates Business Insider Only Half Of Black Seniors Approved For Home Repair Or Refinance Loans To Age In Place Block Club Chicago Types of Mortgage Refinance Options Bankrate.com Mortgage Interest Rates Today, April 22, 2024 | The Still-Hot Economy is Keeping Rates High Business Insider Will Interest Rates Go Down in May 2024? | Mortgage Rates Forecast The Mortgage Reports Mortgage Interest Rates Today, April 21, 2024 | Rates Remain Near 7% Business Insider How To Get The Best Refinance Rate Bankrate.com Average Mortgage Interest Rates: Mortgage Rates by Credit Score, Year, and Loan Type Business Insider The best mortgage lenders for refinancing in April 2024 CNN Underscored Current Student Loan Interest Rates in April 2024 Business Insider Best Mortgage Refinance Lenders In 2024 Bankrate.com Should You Refinance Your Mortgage In 2024? Bankrate.com MBA: Mortgage Applications Decreased in Weekly Survey Calculated Risk Current mortgage refinance rates CNN Underscored When to Consider Refinancing Your Mortgage Business Insider Best Refinance Lenders of April 2024: Refinance Your Mortgage The Motley Fool How To Refinance A Rental House Bankrate.com Mortgage Rates Chart | Historical and Current Rate Trends The Mortgage Reports Refinance Requirements: What You Need to Refinance Your Home in 2024 The Mortgage Reports Best Mortgage Refinance Lenders of April 2024 Business Insider How Soon Can You Refinance a Mortgage? NerdWallet How To Refinance An Underwater Mortgage Bankrate.com Conventional Refinance Rates and Guidelines for 2024 The Mortgage Reports Current 15-year refinance rates — and lenders that offer them CNN Underscored 30-year refinance rates: What to know CNN Underscored Refinancing a Home Equity Loan (2024 Guide) MarketWatch Mortgage Rate History: 1970s to 2023 Bankrate.com Mortgage Rate Forecast February 2024 Bankrate.com Mortgage Rate Predictions: Are 7% Rates Here to Stay in 2024? Norada Real Estate Investments When should I refinance my mortgage? To determine if a refinance is the right move for you, you’ll need to know the ... The Wall Street Journal Pros and Cons of a Cash-Out Refinance Bankrate.com What Credit Score Do I Need To Refinance? Bankrate.com Should I Refinance My Mortgage Now? When to Refinance As Rates Drop Business Insider Office of Research blog: A look at cash-out refinance mortgages and their borrowers between 2013 to 2023 Consumer Financial Protection Bureau The Sales Pitch for an 8% Mortgage: Buy Now, Refinance Later—for Free The Wall Street Journal Mobile Home Refinancing | Loans & Rates 2023 The Mortgage Reports
|