Here is a great post by:
David Shamansky - Creative Finance Specialist Colorado Mortgage Lender
Office Phone: (720) 524-8020
If you live in the area of Highlands Ranch, CO and you are in the market to buy, sell, or refinance your home, call David Shamansky at the information above and he'll take great care of you.
I am sorry your free savings did not meet your expectations!
I have a client that called me last week. "great news David, I have a great job now and am really interested in taking advantage of these great rates". Excellent I say let me get some basic information and see what your loan will look like. I get all the necessary info and arrive at a number of appx 150/mo. Ok maybe not as much as you hoped but its FREE. Literally the balance of their loan remains the same, we absorb ALL costs, they skip a months payment and we even fund their escrow account so they get their escrows back as cash for mad money too! The result...
A canceled appt, and then an email response... "I am sorry David I just dont think I am saving enough money for this to make sense"? What!?!?!?!
Do you actually understand this? I am happy to explain it if I wasnt clear on any part? (I say to them in email)
- Your balance is the SAME as it is today - hence NO COST
- You save a months house payments (2000 instant savings)
- You get your entire escrow account refunded (and its yours as we funded this account) appx 1000
- Your monthly savings is 150 over your current payment and its not enough?!?!
SERIOUSLY people, is this the financial prowess weve come to? Is this the epitome of looking a gift horse in the mouth or am I missing something?
Now I could understand if closing costs were piling up 5-7,000 and savings was minimal and maybe the time in the home was not going to be estimated to be long enough to justify the costs but this one has me floored.
I guess I am left with this response... I am sorry your FREE savings did not meet your expectations! The 3000 of immediate cash to use the NO increase in your loan balance and the 150/mo you arent wasting was not good enough to justify or earn your business...
How wasteful and financially illiterate have we become?
"Positive reinforcer, promoter, success coach, entrepreneur, team builder, wealth builder, blessed individual, business leader and professional lender"
1745 Shea Center Dr 4th Floor
Highlands Ranch, CO 80129
Equal Housing Lender
*photos used may come from my personal pictures or www.freedigitalphotos.net