Rates at Lowest Level EVER

08/02/2016
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Time to pick up the phone again if your an originator?  Well looks like rates are at their lowest level EVER!

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Comments
  • If anyone has a client considering the “Hero” program make sure they do it only if they are COMPLETELY desperate!! Brief back ground. This is backed by a Hedge Fund administered through our trustworthy Government and property taxes are used for collateral!!! I have someone who wants to pay their loan off early and they have a pre-payment penalty (it’s legal since it is not considered a loan, it is considered a special assessment against your taxes) :You HAVE to use their contractors (their pricing is a COMPLETE ripoff), they normally charge anywhere from 8.5 points upfront and up to 10% interest rates (if I charged those fees I would lose my license). Since Bonds are issued (usually 5 years or more) that is why there is a prepay if you want to pay off before the Bond term is up. I have a client who was quoted $15,000 for 9 windows!!!!! Fortunately he knew this was a TOTAL ripoff and declined their generous offer (he got a quote from a reputable source for 4K). Please make any of your clients aware there MUST be better options than this SCAM program. BTW, the client who wants to payoff his loan early, his taxes were just over $900 a year before the “Hero” program…now they are over 3K per Year!!!!

    scott linton August 3, 2016 12:19 pm Reply

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