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want to refi my mortgage, who is the CLSB guru?

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#21 ·
Troy is your guy.....just saying
 
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#22 ·
Did anyone mention Esme? She did my mortgage and several other people's. She's a winner.
 
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#23 ·
Kruz said:
Any current experiences? Citi wants ~$415 for the appraisal out of pocket but they rattled off a couple thousand in other fees that I assume will be tacked on to my balance? Waiting for my GFE to see exactly what they were?

5.125% sound good for 30yr fixed?
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conforming or FHA?

and NO do NOT do the appraisal out of pocket. I've seen countless people get burned just for them to come back and say your place is worthless. They waste $415 and you get nothing in return but empty promises.

And yes, if they are saying thousands then they are tacking that on and basically doing a reg ref.
 
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#24 ·
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#25 ·
I thought so?????
 
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#26 ·
Bek said:
A few years ago, before Esme got into the industry, I refi'd via a guy named Greg at MetLife. It was a recommendation from an old thread here. He's not local but it didn't matter... we did everything over the phone and via snail mail. It was quite painless and his rates were good.PM me and I can dig up his contact information.
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Screw that recommendation & the guy from MetLife. Go with Esme & support a CLSB member. Besides, she's way hotter.
 
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#27 ·
Kruz said:
Any current experiences? Citi wants ~$415 for the appraisal out of pocket but they rattled off a couple thousand in other fees that I assume will be tacked on to my balance? Waiting for my GFE to see exactly what they were?

5.125% sound good for 30yr fixed?
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It depends on the loan program, type, credit score (tier based pricing), and other factors, but if you'd like, I can ask my appraisal manager to run an AVM to establish a good estimate of value and then we can discuss programs and costs. In all reality, you should not be looking at thousands in closing costs and an appraisal on a single family home (typically) should only cost you about $300, so even that is being priced too highly by Citi. IMHO.... :2cents:
 
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#30 ·
Troy said:
Not anymore. Was doing wholesale residential for many years, but got out of it when the market went south.
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Ugh, i wish you still were, AE's suck now a days
 
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#31 ·
Another vote for Esme. She helped us buy our first place a couple months ago with an FHA loan. Totally painless, excellent experience. Do it.
 
#32 ·
I"m doing the HAMP program through my mortgage company (Nationstar). They got my mortgage after Citimortgage sold my loan to them (bastards, now I gotta deal with faceless people in Texas instead of my broker here in Oak Lawn).

Hopefully, this will help me out, otherwise, i'll be ringing esme's PM box with details. I'm looking for a refi based in 'lower income than what the loan originated at' so, we'll see how well that works.

Being upside down on the loan, having a PMI, all sucks. Even with good to great credit and on-time payments, Citi and other mortgage brokers are like... 'ah, we can't touch you' because I'm self-employed and my AGI is too low for this loan balance.

I just want to pay whats fair; is that too much to ask?
 
#33 ·
crashomon said:
I"m doing the HAMP program through my mortgage company (Nationstar). They got my mortgage after Citimortgage sold my loan to them (bastards, now I gotta deal with faceless people in Texas instead of my broker here in Oak Lawn).

Hopefully, this will help me out, otherwise, i'll be ringing esme's PM box with details. I'm looking for a refi based in 'lower income than what the loan originated at' so, we'll see how well that works.

Being upside down on the loan, having a PMI, all sucks. Even with good to great credit and on-time payments, Citi and other mortgage brokers are like... 'ah, we can't touch you' because I'm self-employed and my AGI is too low for this loan balance.

I just want to pay whats fair; is that too much to ask?
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Isnt "fair" the original loan you signed for?

Just asking. :)
 
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#34 ·
PolishPete said:
Isnt "fair" the original loan you signed for?

Just asking. :)
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When I try to re-finance, but the house is UNDERWATER because of the chicanery caused by Mortgage Professionals and shady operators dumping poor credit mortgage tranches into sold investments that is not fair to me, the homeowner.

I've paid my mortgage on time for 6 years and with good credit, I SHOULD be able to refinance, no? That's what is fair.

Penalizing me with an inability to refinance isn't whats fair.
 
Discussion starter · #35 ·
crashomon said:
When I try to re-finance, but the house is UNDERWATER because of the chicanery caused by Mortgage Professionals and shady operators dumping poor credit mortgage tranches into sold investments that is not fair to me, the homeowner.

I've paid my mortgage on time for 6 years and with good credit, I SHOULD be able to refinance, no? That's what is fair.

Penalizing me with an inability to refinance isn't whats fair.
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The only mistake I made was listening to a mortgage broker in 2008 that suggested I take a 5 year arm because the industry will recover. I had put 10% down at that time, I have put another 10% into home improvements and now am being told that my house is worth 10% less than I owe. I realize that my house is only worth what others are willing to pay. And I would never ask people to pay more than my house is worth. To be honest, I would happily pay the same 5.5% I am paying now, just lock it in at this rate. However my bank doesn't offer any program like that. They need me to "refinance" but won't do that for me.
 
#36 ·
SilentAlero said:
conforming or FHA?

and NO do NOT do the appraisal out of pocket. I've seen countless people get burned just for them to come back and say your place is worthless. They waste $415 and you get nothing in return but empty promises.

And yes, if they are saying thousands then they are tacking that on and basically doing a reg ref.
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chalk one up for getting burned on this.

All I wanted and still do want is to refi at the lower rates. Have a primary and a second mortgage, was a LoC but due to attempting to refi the Loc interest only to a straight up second with a 10 year term.

Man was I pissed. Went from 150 payments to over 700 a month for that damn thing.
 
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#37 ·
clearwaterms said:
The only mistake I made was listening to a mortgage broker in 2008 that suggested I take a 5 year arm because the industry will recover. I had put 10% down at that time, I have put another 10% into home improvements and now am being told that my house is worth 10% less than I owe. I realize that my house is only worth what others are willing to pay. And I would never ask people to pay more than my house is worth. To be honest, I would happily pay the same 5.5% I am paying now, just lock it in at this rate. However my bank doesn't offer any program like that. They need me to "refinance" but won't do that for me.
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So you have 1+ years left on the ARM and you could live with the current rate that it's at? Why not stay there until it ends? Again, I've got an 5-year ARM that expired a few years ago now and my rate has done nothing but drop. I would look into your terms and see if you can figure out what your rate may do. For the record, I'm paying 2.8% right now on that ARM.
 
Discussion starter · #38 ·
TMC said:
So you have 1+ years left on the ARM and you could live with the current rate that it's at? Why not stay there until it ends? Again, I've got an 5-year ARM that expired a few years ago now and my rate has done nothing but drop. I would look into your terms and see if you can figure out what your rate may do. For the record, I'm paying 2.8% right now on that ARM.
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i realize that it might drop, but it will eventually go back up. I am currently at 5.5%. I am not dying to get into a new program, but hoping to take advantage of the rates that are at a "historic 40 year low" and several mortgage people (who all say they are straight shooters) say they will just start to go back up.

This was once planning to be our starter home, is now looking like our long term first home (probably not our last though)
 
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