/ Archive by category 'Choosing A Refinance Lender'
Your broker is a critical piece of the puzzle that will determine whether your home refinance efforts are successful or not. Before you pony up all your private information, it ’s imperative that you find out that they’re trustworthy. Here’s how….
I read an article the other day supposedly written by a mortgage broker that said that when you’re refinancing you can’t be afraid to take chances if you want to get your refinance or home equity loan approved.
His solution? Bury what you can and lie about the rest!
Let me explain why this is a really terrible idea…
· How long have you been in business?
· How will you get paid?
· Do you have good ?
· How do you handle
Let’s take a closer look at these, shall we?
1. First, your lender / mortgage broker will pull your credit report and speak with you – either in person or by phone – to get some basic information from you about what your needs are.
Don’t be afraid to ask the hard questions, and at same time, expect the right answers before you entrust personal financial information to them.
Think about it. Your broker is going to have in his or her possession your entire financial life, from Social Insurance Number or Social Security number (depending on where you live), and how much you make, to how long you’ve worked for your present employer. Before you pony up this information, it’s imperative that you find out that they’re trustworthy.