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Mar 4, 2014 9:48AM


Borrow from your own family or save up enough so you can damn near pay it off anytime you so desire!

This is the smart way! Why pay compounded interest that does only one thing, it increases home prices unnecessarily and you will never get out of your home what you had to put in it if you finance through one of the corrupt Republican FINANCIAL CORPORATES! YOU ARE JUST MAKING THEM WEALTHY!!

Another way, check & see if there is a group of local investors that may be able to give you a better short term deal.

Mar 4, 2014 9:40AM

This was kind of a joke of an article.  All points were common knowledge since I went to first buy a house in the 80's.

Are we that dumb, or that forgetful,  or is this article nothing but pure fluff?

Jan 22, 2014 8:10AM
First we have to get lenders to actually want to give a loan again. Right now, underwriters are so scared to approve anything for fear that Fannie, Freddie, or FHA will force a loan buyback, that it's not surprising the process comes to a halt if it happens at all.
Jan 22, 2014 7:06AM
Fix your credit first. It takes time sometimes to remove erroneous things. Do not be too picky though. 
If you are ready for a house and there are somethings that might not be totally right and you have a good score, don't worry about the .5 lower interest rate because the constant pulling of your credit will wear it down. Lost of things can be fixed later and you will still be able to refinance later with an awesome score because your good record on a house.

My wife's credit was pulled 14 times in one month by someone "fixing" her credit. No "soft" pulls can be used for a house so they are real, and cost about 5+ pts per pull. We ended up using the score with the false bad credit because it ended up being higher. Few years later the bad credit is gone & we have the house we wouldn't have had.

If it will be a year or more, FIX YOUR CREDIT. You get: Instant qualification letter and more of your approved money can go to the house and less to points & fees. Then your closing can be done in less than a month because your monies are already secured.
Jan 22, 2014 5:53AM
I thought they were going to tell us how to stop the interest bleeding faster but I see this is just how to speed up taking on & paying those massive interest payments faster. 

I will just say this...Is that shelter worth the interest charges listed on your truth in lending statement? Look closely...on a $175K loan you will be charged $$$$$$ over 30 years and they get theirs upfront.

Go in with eyes wide open Friends..

Jan 22, 2014 5:27AM
Dump your realtor they slow down the process I went without one and bought private took less than 3 weeks friends used realtor and it took a month and a half plus saved thousands on home and fee's !
Jan 8, 2014 2:51PM
Each and every one of these factors is valid in determining whether you will loan money under your custodianship, which for the most part is money belonging to others, on a property.  Risk avoidance is a good thing, and if you live near a volcano, maybe the lender should avoid the risk of lava flows.  If you lown the home and you are confident the lava won't flow, finance the sale yourself.  Ditto the others.  Anybody responding here who does not like my drift, are you prepared to personally finance residential loans in Flint, MI?  Camden, NJ?  I thought so.
Jan 6, 2014 5:16AM

Actually very true article, however the agent should have told the buyer this in beginning

and to bring everything with them to the application, including 2 yrs tax returns, letters of explanation

for any potential former credit issues. Being well prepared, buyers can actually sale through the process.

Getting right loan officer, and being in sync with him/her and having them know you and buyer do not want delays, want appraisal ordered immediately after application, gets loan moving quickly.

In Iowa home inspectors are not for most part licensed, they may be certified but have ran into my fair share of - got fired a couple weeks ago as a janitor, milkman or whatever (no offense to any profession) and her I am 2 weeks later a certified home inspector charging $450 with no license, in some cases no knowledge, and never a warranty and telling people at front door - pay me now, and you can only sue me for what you paid. I tell my buyers and sellers alike - We can get a licensed, plumber, heating contractor, and electrician to check it over. Can get roofer and many times if buyer feels needs it, a licensed structural engineer for $450 or less and they stand behind what they say. The roofer gets on roof and inspects, cannot do it from ground and see behind that

stack pipe coming through roof.

Jan 4, 2014 12:27PM
Wow.  No new advice here.  Just same old common sense.  If you couldn't figure this out yourself you probably shouldn't be buying a home.
Jan 4, 2014 10:01AM
Wow.  People will use any article, no matter how helpful, to sling nasty political and other comments.  What's even more grating is they do it without even reading the article.  The comments here about pay more, pay quicker, too expensive homes, too expensive mortgages and the really, really stupid political comment don't even come close to commenting on the specific, helpful ways the author points out that will move the process of applying for a mortgage more quickly.  Most people are still busy leading normal lives, not looking for any futile excuse to put other people down for no purpose other than to feel superior.  Quit it and get a life you guys.
Jan 4, 2014 8:17AM
It would seem there is only ONE way to make your mortgage move faster.  Pay MORE quicker.
Jan 4, 2014 8:06AM
This is perhaps the worst article that I have ever read.  Thanks for the (lack of) advice MSN!
Jan 4, 2014 5:18AM
5 ways to make your mortgage move faster

#6.  Avoid process altogether... Expensive mortgages on expensive homes does not compute 
Jan 4, 2014 4:57AM
Best two ways to make your mortgage affordable:
1.    Don't buy a house too big for your actual income.
2.   Vote out the Obummer, so you can keep what you earn.

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