gregorygarver.com

soldit4them · Joined: 26 Jan 2005 Posts: 5

In beginning of sept I got a mortgage broker to sort out a joint Self certified mortage,me added on as second applicant on a parttime wage,i was told by broker that we would get 95% of loan,then last month i changed jobs and earning abit more compared to old one,i get a phone call that they are refusing to lend me 95% .after asking for so many details and paperwork we have now been told we can only get 90% and the intrest rate is higher.now that ive allready payed searches and survey fees i feel i have been conned,is there any thing i could do Sad

LiseK · Joined: 20 Jan 2005 Posts: 5

Have your broker shop around to different lenders and see if they can do a stated income deal.

uryuishida42 · Joined: 15 Aug 2006 Posts: 2

You may be able to bring your title seach to another broker and you can bring your survey, so you don't have to worry about that. Go to a couple more brokers and see what they say. Even if it costs you a couple of bucks to swich brokers it may save you thousands in the long run.

satarnag5096 · Joined: 14 Oct 2004 Posts: 6

I don't understand why you can only get 90% cause if your earning more you should be able to pay off the mortgage better.

Pharoah · Joined: 06 Mar 2005 Posts: 2

although you have changed job's and get more money the lenders still look at you as a risk,as you haven't been with your employer long,hence the 90% loan.It's hard,but you either accept the loss and go somewhere else,or take the loss and hang in thereIf you do go else where,try doing it without a broker,why pay their fees?as there are usually hidden charge's

CumQuaT · Joined: 16 Jul 2006 Posts: 5

if you have signed the contract no, but you always have a choice on who prepares your mortgage. Even if it means you have to start over. gl

WendyJean · Joined: 11 Oct 2005 Posts: 7

well the paperwork isn't final correct. Tell him he can takezero and you are going elsewhere. Mortgage Brokerstack on high fees so you would be better off not going to them.Try FHA or HUD, they will work with you and Countrysideis supposed to be working with people under governmentsupervision to fix the foreclosure mess. He expects you to be desperate and therefore take advantage of you. ALso go to your Local Tax of Deeds office and see ifthey would be so kind as to give you a list of housesthat are for sale (some you just pay the back taxes on)They might or might not give you the list, but it is there !!!!Going to a Mortgage Broker is like taking out a PaydayLoan !!!!