AVOID MORTGAGE TRAPS THAT ARE EASY TO FALL INTO and 'CAN' BE COSTLY

By
Real Estate Broker Owner with CHRISTOPHER LADD HARKER LLC

GULFSIDE MORTGAGE INC, CHRISTOPHER LADD HARKER, BROKER
Office
free 866-738-5517 Pay 239-455-1977 Free fax 941-375-3658
          CHRIS CELL 239-682-0182 SEE $8172.50 SAVINGS EXAMPLE
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             AVOID MORTGAGE TRAPS

Is Your Mortgage Broker On Your Side???            

When you choose a good mortgage broker such as Chris, you may rest assured that the broker is out there researching the market for you and not because of you. His objective is to identify the loan best for you. And Chris positively will never try to lead you into a type of loan that better suits his pocketbook rather than yours.

 

When you choose a good mortgage broker such as Chris, you have a broker who has relationships with many, many lenders, and can review through them all to pick the ones that offer the particular features you require. Some mortgage agents just have the one or two lenders that they always use for everyone. 

 

When you choose a good mortgage broker such as Chris, you have a broker who sincerely works with you to figure out what your needs are, and who can counsel you on which of the loan programs best meets these needs. Please don't get stuck with a mortgage agent who could care less.

 

When you choose a good mortgage broker such as Chris, you have a broker who is willing to assist you in overcoming barriers to loan qualification. Chris will not guarantee to get you a home loan, but he does promise to try really hard, going that extra mile, to find you a mortgage that truly meets your needs.

 

When you choose a good mortgage broker such as Chris, you have a broker who will actually lock the interest rate and points on a loan when you want to lock. Please don't get stuck with a mortgage agent who tells you that a loan has been locked, but has not actually locked with the lender. Shady mortgage brokers can do this fake lock to increase their shady profit. But it can backfire, and you as the borrower can get clobbered and in some cases left hanging without a loan.

 

Left hanging without a loan is one way to loose your earnest money deposit. Please do not select a company that may do that to you. There can be seemingly trivial mistakes of broker omission and commision that can have very unexpected and very costly outcomes. A good agent will protect you from such things. Be so careful to avoid 'innocent' TRAPS.

THANKS. Christopher Harker

YOU CAN'T MISS WITH DEANE and CHRIS

      CALL US NOW - DON'T YOU WAIT

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When Chris and Deane bought their home in Naples, it had a full fire sprinkler system. The owner said this would make insurance premiums less. It did not. It made premiums higher, because the actuarial cost to replace the fire sprinkler system if it were destroyed was set at $25,000 and this extra cost more than offset the premium reduction incentive.

Take the time to carefully discuss policy options with the insurance agent or company. Chris sees that many people have either too much coverage or too little insurance coverage or the wrong type of coverage. When Chris and Deane bought their home in Palm Coast, they bought an option that insurance companies do not tell you about. Money to pay for demolition and removal of the home were it destroyed. It cost about $50 annually. When the great wild fires of 1999 destroyed 800 homes in Palm Coast, most home owners did not have this option in their policy. Uninsured cost to them to demolish and remove the burned home averaged $20,000.

Carefully evaluate your deductible. After the four great storms of 2004 the insurance companies made a big increase in minimum deductibles offered. Chris and Deane's home went from $2500 to $5500. You may want to lower your premium and accept a higher deductible than the minimum.

Very definitely avoid making claims that are going to save you money unless the amount saved is $1,000 or perhaps more. If you do not make a claim, your Comprehensive Loss Underwriting Exchange (CLUE) report for you and the property will not be affected. When Chris and Deane lived in Daytona, they had a total of nine claims arising from the four great storms of 2004; claims for many thousands of dollars. When Wilma struck in 2005, the damage to Chris and Deane's Naples home was $7200 against a deductible of $5500. We did not file a claim to get $1700, when we considered CLUE.

If you belong to any groups such as associations, these may have special offers on insurance coverage.

You will need to check out the Florida government-backed insurance plans, available in the high-risk areas. The state of Florida has a wind zone, and insurance companies will not sell insurance in this zone. You will need to turn to state plans.

Insure your house for replacement cost, not market value. Many insurance companies are eliminating guaranteed full-replacement costs for homes.

Review what your policy covers, how much money it pays, and the value of your possessions annually. Some items depreciate and may not need as much coverage, and your home hopefully appreciates and needs more coverage.

 

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many lenders
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mortgage discount
mortgage needs
loan lock
loan qualification

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