Quote:
Originally posted by Veterans Day
No problem man. Tell me what he tells you, then I can assess the fuckin he's tryin to give you.
Heres a great example:
Say Jon Doe has an FHA 30 year mtg he wants to refinance, he doesnt want any cash out all he wants to do is a rate and term refi. BUT his loan officer notices he has a 30 day late on his credit report from his credit card. His loan officer proceeds to tell him, Ya jon I can do this loan BUT the lender is charging an extra .50 on the rate cause of your late payment on the credit card. So jon says "ya I fucked up, ok lets do it anyway"  All the loan officer did was make an extra 500-1500 bucks on the loan because truth be told FHA could care less if your late on every single debt BESIDES your mortgage to them. If you have a clean no late mtg history with fha thats all they look at when doing a rate and term refi 
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An extra point on the back for raising the rate .5%?