Shopping for Mortage

[The Bad Guy]

Originally Posted by Bill Lundberg

That's weird, I replied to you on 2/22/2011. Anywho, here was my response.



As for my reign as Planet mortgage guy, it's over. I closed my last loan yesterday and am officially out of the mortgage business. Things have changed so much that I don't care to be involved with it another day after 12 years. It's a bittersweet end. I used to take great pride in helping people save money or buy the home they've always wanted. Banks and the government have made it such a ****ing pain in the ass that customers don't appreciate the lengths we have to go to in order to get a loan completed these days and quite frankly I don't blame them.

If I were in your situation I would ask the builder to carry the construction loan and just take care of the end loan once the house is completed. It may be hard to do in today's market, but it will protect you from someone walking in the middle of a build job. Most reputable builders have access to a line of credit that will allow them to carry the note until completion.

Thanks Bill.

I did get a response on that, but tried today and it wouldn't go through.

I'm not real worried about people walking in the middle because the people I'm using are people my father in law has built 5 houses with and are close friends of his.

Good luck to you in your future endeavors.