Free Breakfast, Lunch and Dinner (Bring Your Appetite)

If you saw the above message in a magazine or a newspaper, or maybe even
flashed on your T.V., would you believe what it says.  Whether the message was from a
one location restaurant or a large chain I still think you would laugh and forget about it.
Before you let it go you probably figure that you must buy a alcoholic beverage at every meal
and a full size dessert as well that will definetly cost you some money.

Mortgage Fraud Riverside

           When it comes to advertising of free mortgages a large majority of the listening audience make the call to get the info.  How do I know that?  Because I hear the advertisements all the time which means they are getting the calls from the public.
           When they tell you in the mortgage arena that your loan will be without cost to you
they are lying.  What they should say is you will not have to send us any money for doing
the loan.  How is that different: sending money doesn’t reflect the cost of the loan; but
those lenders who do this type of advertising know that the prospective client will not think
the message through because he believes he has nothing to lose.

Mortgage Fraud Riverside

 Lenders put out rate sheets to their sales force which shows them how much they
will make by giving the client a certain rate.  The lowest rate a salesman gets will require
a fee from the client.  The higher the rate is the less the fee, and in fact once they show you
the rate and you don’t have to pay anything to get it, and the following happens;.
            The lowest rate for a certain loan will cost the client generally one point which is
            one percent (1%) of the loan amount.  If the client doesn’t  want to pay a point he takes
            a slightly higher rate and pays perhaps a quarter of a point 1/4  When the client gets a                 rate without paying anything it generally means there is a rebate from the lender to the                 broker of a point which is generally 1% of the loan amount.

Mortgage Fraud Riverside

          There is a lot to learn about financing loans for home mortgages and now you at
least enough to get what you want in rate and cost from the lender.  Deal with people
who aren’t trying to get into your wallet..
Mortgage Fraud Riverside

About Roger Schlesinger

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