Comments on: Joe Buyer and the Lending Treehouse of Horrors: Part 2 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/ Seattle's Leading Resource for Real Estate Information Sun, 08 Nov 2009 01:47:42 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: RealEstateUndressed » Blog Archive » Presenting July’s Magnificent 7 Consumer Real Estate Articles http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-167557 RealEstateUndressed » Blog Archive » Presenting July’s Magnificent 7 Consumer Real Estate Articles Mon, 06 Aug 2007 04:58:30 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-167557 [...] Joe Buyer and the Lending Treehouse of Horrors: Part 2 by Rhonda Porter [...] [...] Joe Buyer and the Lending Treehouse of Horrors: Part 2 by Rhonda Porter [...]

]]> By: Rhonda Porter http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159706 Rhonda Porter Fri, 13 Jul 2007 14:26:13 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159706 Thanks everyone! You guys are the best. Thanks everyone! You guys are the best.

]]> By: Brian Brady http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159592 Brian Brady Fri, 13 Jul 2007 06:37:11 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159592 Hooray and Sorrow. This post should be bookmarked. Actually, it will be. Look for a trackback. My condolences on your loss. Hooray and Sorrow.

This post should be bookmarked. Actually, it will be. Look for a trackback.

My condolences on your loss.

]]> By: aaron http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159169 aaron Thu, 12 Jul 2007 03:54:27 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159169 Unfortunate for sure. LendingTree and other similar site give you the impression that they are passing your information on to banks but they are actually selling your loan application to the highest bidder...up to 4 times. It amazes me how people will trust the biggest purchase of their lives to a stranger they meet over the internet so they can save a few bucks. Many of them like e-loan are completely outsourced to foreign countries. The best advice is use someone local so you can meet in person and have access to their supervisor if things dont go the way you expect. Unfortunate for sure. LendingTree and other similar site give you the impression that they are passing your information on to banks but they are actually selling your loan application to the highest bidder…up to 4 times.
It amazes me how people will trust the biggest purchase of their lives to a stranger they meet over the internet so they can save a few bucks. Many of them like e-loan are completely outsourced to foreign countries.
The best advice is use someone local so you can meet in person and have access to their supervisor if things dont go the way you expect.

]]> By: Deborah Burns http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159068 Deborah Burns Wed, 11 Jul 2007 21:13:27 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159068 Hi Rhonda, Sorry to hear about you and your family's loss...that is very sad for you all. I think that Morgan's comment on #11 is right on: "Mortgage rates are commodities - mortgage professionals are not. Shopping for a rate by trying to drive to the lowest rate and lowest closing cost simply pre-selects the most unethical person who is willing to reel you in with unrealistic rate and programs only to pull the above shenanigans on you. Great post about an all-to-often problem in our industry" There are too many people who are only looking for making money in the short term (the current loan or RE transaction) who do not care about the long term impact for the consumer and do not care if they ever talk to their "client" again after all is said and done. Professionals who care about their clients long term, care enough to do right by their clients the first time and every time. A truly trustworthy professional is one who is there today and tomorrow, and can be counted on to provide excellent service for a reasonable cost everytime. Great story Rhonda...I love ARDELLs' graphic! Keep it up as the "Capped Cursader" for motgage comsumers! Hi Rhonda,

Sorry to hear about you and your family’s loss…that is very sad for you all.

I think that Morgan’s comment on #11 is right on:

“Mortgage rates are commodities – mortgage professionals are not. Shopping for a rate by trying to drive to the lowest rate and lowest closing cost simply pre-selects the most unethical person who is willing to reel you in with unrealistic rate and programs only to pull the above shenanigans on you. Great post about an all-to-often problem in our industry”

There are too many people who are only looking for making money in the short term (the current loan or RE transaction) who do not care about the long term impact for the consumer and do not care if they ever talk to their “client” again after all is said and done. Professionals who care about their clients long term, care enough to do right by their clients the first time and every time. A truly trustworthy professional is one who is there today and tomorrow, and can be counted on to provide excellent service for a reasonable cost everytime.

Great story Rhonda…I love ARDELLs’ graphic!

Keep it up as the “Capped Cursader” for motgage comsumers!

]]> By: Mike Mueller http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159057 Mike Mueller Wed, 11 Jul 2007 19:55:00 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159057 Absolutely. It's a constant struggle - good vs. evil. Well maybe not as drastic as that - How about... "Honest, Ethical, and with their best interest in mind" vs. "everyone else" You know, I'm a huge Simpson's Fan. I loved the double entendre! Some of my biggest traffic hits come from post I made about the Tree and it's misrepresentations. Absolutely.
It’s a constant struggle – good vs. evil.
Well maybe not as drastic as that – How about…
“Honest, Ethical, and with their best interest in mind” vs. “everyone else”

You know, I’m a huge Simpson’s Fan.
I loved the double entendre!
Some of my biggest traffic hits come from post I made about the Tree and it’s misrepresentations.

]]> By: Rhonda Porter http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159056 Rhonda Porter Wed, 11 Jul 2007 19:45:58 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159056 Mike, I'm still thinking about your comment and you're right. There's times when I'm transparent, like talking about the cost associated with paying your own taxes and insurance (escrow waiver fee) and the borrower will say, "how come my other lender never charged me"...guess what, they did! A truthful upfront LO can appear to not be straight when they're in the mix of others who don't educate consumers or fully disclose options. Mike, I’m still thinking about your comment and you’re right. There’s times when I’m transparent, like talking about the cost associated with paying your own taxes and insurance (escrow waiver fee) and the borrower will say, “how come my other lender never charged me”…guess what, they did! A truthful upfront LO can appear to not be straight when they’re in the mix of others who don’t educate consumers or fully disclose options.

]]> By: Rhonda Porter http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159055 Rhonda Porter Wed, 11 Jul 2007 19:43:55 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159055 Of course, Mike! Shucks, I'm flattered you even ask. Morgan, thanks so much for your kind support. Of course, Mike! Shucks, I’m flattered you even ask.

Morgan, thanks so much for your kind support.

]]> By: Mike Mueller http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159054 Mike Mueller Wed, 11 Jul 2007 19:35:14 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-159054 Rhonda - Wonderful story, glad it turned out in the end. So often since we know how these things will turn out, we tell our "Mr. and Mrs. Buyer" what might happen, and yet they go ahead. Then, when "The Buyer's" find out we were right, often times Mr. Pride steps in and stops them from coming back to us. Good for you! Permission to link back to this post on my blog? Pretty Please? Rhonda -
Wonderful story, glad it turned out in the end.
So often since we know how these things will turn out, we tell our “Mr. and Mrs. Buyer” what might happen, and yet they go ahead.

Then, when “The Buyer’s” find out we were right, often times Mr. Pride steps in and stops them from coming back to us.

Good for you!

Permission to link back to this post on my blog?
Pretty Please?

]]> By: Morgan http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-158825 Morgan Wed, 11 Jul 2007 05:30:30 +0000 http://raincityguide.com/2007/07/09/joe-buyer-and-the-lending-treehouse-of-horrors-part-2/#comment-158825 Rhonda, I'm sorry to hear about your loss. I feel like we're friends (even if its just podcast friends) and I am very saddened for you and your family. You make a great point about internet lenders and shopping for interest rates. I think that people's gut instinct on shopping for a mortgage is completely wrong and actually leads them in to bad situations. People need to stop shopping for rates and start shopping for trusted professionals. Mortgage rates are commodities - mortgage professionals are not. Shopping for a rate by trying to drive to the lowest rate and lowest closing cost simply pre-selects the most unethical person who is willing to reel you in with unrealistic rate and programs only to pull the above shenanigans on you. Great post about an all-to-often problem in our industry. Rhonda, I’m sorry to hear about your loss. I feel like we’re friends (even if its just podcast friends) and I am very saddened for you and your family.

You make a great point about internet lenders and shopping for interest rates. I think that people’s gut instinct on shopping for a mortgage is completely wrong and actually leads them in to bad situations. People need to stop shopping for rates and start shopping for trusted professionals.

Mortgage rates are commodities – mortgage professionals are not. Shopping for a rate by trying to drive to the lowest rate and lowest closing cost simply pre-selects the most unethical person who is willing to reel you in with unrealistic rate and programs only to pull the above shenanigans on you. Great post about an all-to-often problem in our industry.

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