Let the Construction Begin!

When buying a new construction property there is a lot to think about, from finishes to paint colors, appliance choices to flooring. The one thing you don’t want to worry about is what the interest rate will be on your loan.

Mortgage Equity Partner’s long lock program protects you from market movement for up to 270 days, that’s 9 months to get the property completed!

And you get a free one-time float down or a free 30-day extension if you find you need more time.

So, stop worrying about rates and start shopping for furniture, you can be confident when you work with a Mortgage Equity loan officer that we have your needs front and center.

** One time float down to current 60 day rate allowed at any time during the process. Must meet investor specific qualification guidelines. 30-day extension cannot be used with float down. Borrower gets one or the other.

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No, I didn’t send you that letter…

Good consumers should be educated in marketing ploys to stay out of trouble. We are here to help.

If you recently closed on a mortgage you might find that you are getting lots of new types of mail. Because a mortgage is recorded with the registry of deeds it becomes public record. Many service providers purchase lists of newly purchased homes in order to market their services to the new homeowners. That’s why you are seeing mail from landscapers to heating companies. But there is another type of mail that you might get, mail that isn’t from your lender but appears to be.

Insurance companies and other financial service companies seem to specialize in this. The letter may reference “your mortgage from ___________ lender” and go on to mention the lender along with the service they are trying to sell you as if the two are connected when they are not.

We get weekly calls from borrowers who are being offered ‘Mortgage Insurance’ to protect their home investment. It takes a while to explain that the letter did not come from us and that the product being sold is not likely one that the borrower should invest in. What they refer to as mortgage insurance is simply a life insurance policy that covers your loan amount. Basic life insurance is more reasonable.

The mail barrage happens at other life events, having a baby or with a death in the immediate family, marketers love to target life events as a way to sell you more, generally insurance but other products as well.

It is important to understand what you are getting in the mail and why. Call your lender if something does not sound right, or call your financial advisor, accountant or insurance agent with questions, if you don’t have any of these advisors give us a call and we can provide you with referrals to excellent professionals.

Good consumers should be educated in marketing ploys to stay out of trouble. We are here to help.

Cheers!

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You Don’t Need to Drop OUT… Just Opt OUT!

Stop disruptive calls from credit card companies and lenders.

It may feel like you have to go off the grid to rid yourself of annoying credit calls. The good news is that you don’t. You can stay connected while eliminating many of those telephone interruptions offering you new credit cards or a mortgage.

Before you have your credit pulled for a home loan qualification take the preventative step to protect yourself from identity theft and hassling telemarketers and lenders.

When a mortgage inquiry is logged on your credit report, your personal information is sold by the credit repositories, Experian, Trans Union and Equifax to certain types of mortgage lenders. These are called trigger leads because the leads are triggered by your credit pull and mortgage companies pay a lot for this type of information. Once they have your information lenders may try to sneak through your defenses by vaguely representing that they are working for your chosen lender or by using other tactics.

The more companies that have your personal data the greater risk that you will become the victim of identity theft. Put yourself in control of your personal information. At least 48 hours prior to having your trusted lender pull your credit, call or go online to:

You will be asked to provide some personal identification information for this service to verify that it is correctly removing your personal record from its marketing lists. In addition, you can choose to be removed from the lists that are currently sold to credit card companies which are used to generate credit card solicitations. You can opt out for a period of five years or forever. No reason not to OPT Out today!

Just OPT OUT at www.optoutprescreen.com to protect your personal information and keep your phone from ringing.

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