Clarion Mortgage Capital

Frequently Asked Questions

WHAT IS YOUR RATE TODAY ?
DO YOU THINK THE RATES ARE GOING TO GO UP OR DOWN ?
I AM BEHIND ON MY MORTGAGE PAYMENTS X NUMBER OF MONTHS, CAN YOU HELP ME REFINANCE?
I HAVE IRS OR STATE TAX LIENS, CAN I BORROW MONEY TO PAY THEM?
I HAVE BEEN TOLD THAT IN ORDER FOR ME TO GET THE BEST "DEAL" I SHOULD GET FROM 3 LOAN OFFICERS THEIR GOOD FAITH ESTIMATES AND COMPARE THEM TO SEE WHICH LOAN OFFICER OFFERS ME THE BEST "DEAL", IS THIS ACCURATE ?

WHAT IS YOUR RATE TODAY ?

THIS IS THE WORST QUESTION A BORROWER CAN ASK WHEN THEY FIRST CALL A LENDER! IT IMMEDIATELY TELLS THE LENDER THAT YOU ARE NOT KNOWLEDGEABLE ABOUT THE LOAN BORROWERING PROCESS. AN UNSCRUPLUS LENDER IS IMMEDIATELY AGGRESSIVE ABOUT TAKING ADVANTAGE OF YOU.

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DO YOU THINK THE RATES ARE GOING TO GO UP OR DOWN ?

NO ONE EVER KNOWS FOR SURE. BE CAUTIOUS IF THE LENDER STRONGLY INDICATES THAT RATES ARE GOING IN EITHER DIRECTION.

TODAY'S LENDING MARKET IS IN A HIGH STATE OF CHANGE. MANY LENDERS ARE GOING OUT OF BUSINESS OR ARE FILING BANKRUPTCY TO TRY TO SURVIVE. CHANGES ARE OFTEN HAPPENING ON AN HOURLY AND DAILY BASIS. PROGRAMS ARE CONSTANTLY BEING MADE MORE OR LESS RESTRICTIVE ALONG WITH DISSAPEARING ALLTOGETHER. QUALIFYING FICO SCORES, LOAN TO VALUE AND OTHER QUALIFYING PARAMETERS ARE ALSO CHANGING BY THE MOMENT.

IF YOU NEED A LOAN, WORK VERY CLOSELY & QUICKLY WITH YOUR LOAN OFFICER TO 1ST SELECT THE BEST LOAN AVAILABLE AT THIS TIME, GET APPROVED, LOCK THE LOAN AND CLOSE AS QUICK AS POSSIBLE. THIS WILL REDUCE YOUR & THE LOAN OFFICER'S FRUSTRATION LEVELS.

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I AM BEHIND ON MY MORTGAGE PAYMENTS X NUMBER OF MONTHS, CAN YOU HELP ME REFINANCE?

THE LO9AN OFFICER NEEDS TO GATHER SPECIFIC INFORMATION ABOUT YOUR ENTIRE SITUATION BACKED UP WITH DOCUMENTATION TO BE ABLE TO GIVE YOU A CREDITABLE ANSWER TO THIS QUESTION. BE PREPARED TO BE SPECIFIC & PROVIDE DOCUMENTED BACKUP.

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I HAVE IRS OR STATE TAX LIENS, CAN I BORROW MONEY TO PAY THEM?

YES, THIS SOMETIMES CAN BE DONE. AS ALWAYS, IT DEPENDS ON YOUR SPECIFIC SET OF CIRCUMSTANCES.

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I HAVE BEEN TOLD THAT IN ORDER FOR ME TO GET THE BEST "DEAL" I SHOULD GET FROM 3 LOAN OFFICERS THEIR GOOD FAITH ESTIMATES AND COMPARE THEM TO SEE WHICH LOAN OFFICER OFFERS ME THE BEST "DEAL", IS THIS ACCURATE ?

MY EXPERIENCE IS DIFFERENT.

I RECOMMEND THAT YOU GET REFERRALS FROM FRIENDS, RELATIVES OR OTHERS WHOSE JUDGMENT YOU TRUST OF 3 LOAN OFFICERS THEY HAVE HAD GOOD EXPERIENCES WITH AND TRUST, THEN DISCUSS YOUR SITUATION WITH EACH OF THOSE LOAN OFFICERS TO SEE WHICH ONE BEST RELATES TO YOU AND YOUR SITUATION AND THEN WORK CLOSELY WITH THAT LOAN OFFICER.

HOME FINANCING DONE RIGHT DEMANDS COMPLETE UNDERSTANDING BY BOTH THE BORROWER & THE LOAN OFFICER TO ACHIEVE THE BEST "DEAL" AT THAT POINT IN TIME.

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