Real Estate Today: Total Mortgage Consultants (Part 1 of 3) – Koolik Group Realty Video
http://www.koolik.com In this episode of Real Estate Today with Elliot Koolik of Koolik Group Realty, we will join Neil Stein, Senior total mortgage consultant, of WCS Lending in discussing the ins and outs of the mortgage industry. Neil will answer your mortgage loan questions and discuss how a total mortgage consultant can go beyond the role of a mortgage loan officer in getting you the best loan for your needs. Neil has been in the mortgage industry for 14 years, working as a mortgage loan officer and financial consultant in New York. His total mortgage consultancy includes an analysis of the length of finance in getting the best rates. Years ago, the short term benefits and lower rates of ARMs may have been beneficial. Now, the short term rates have gone up and a 30-year fixed mortgage may be the way to go. The consultation process is not just a loan offer. Total mortgage consultants will explore your options based on the expected length of tenancy and any hidden fees at closing. It is the total mortgage consultant’s job to shop the best rates, inform you of your options, and help you to decide which loan you are comfortable with. Neil Stein is a Senior mortgage loan officer and expert financial consultant who will get you the right loan for your needs.
Duration : 0:9:14
http://www.koolik.com In this episode of Real Estate Today with Elliot Koolik of Koolik Group Realty, we will join Neil Stein, Senior mortgage consultant, of WCS Lending in discussing ways to avoid foreclosure. Neil offers advice to people who are trying to sell their house or refinance to avoid foreclosure. With the current inverse yield curve in the bond market, it is not advantageous to take out an ARM. The short term loan rates are rising and ARM payments will go up. Long term loan rates are not rising as fast as adjustable rates and may be the best option, depending on how long you intend to live in the property. Financial advisors can help you to get the best rate and will educate you about your options until you are confident you are getting the best price. Although it may seem like somebody else has a lower rate, it may end up costing more in the long-run if the mortgage rates rise or if there are hidden fees at closing. Refinancing and selling your house are great ways to avoid foreclosure, but ensuring that you get the right mortgage loan the first time is the best way to avoid the threat of foreclosure altogether.
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