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Loan Pros
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HELLO
MY NAME IS CYNTHIA GARZA
Department # LP779
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I am a Customer Service Representative, for Loan Pros. I will be happy to help you with all your questions and concerns. Please continue reading for detailed information on the service we offer. At the end if you still have questions or concerns there will be a phone number you can call or if you would like an e-mail address you can write. Please write my department number down: LP779! You will need it in order to take advantage of our unique service to home owners!
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SAVING YOU MONEY IS OUR BUSINESS!
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Loan Pros is a company comprised of former closing agents, lenders and realtors who
became tired of overcharging homeowners for mortgage loans. We combined our knowledge of the mortgage industry and now work as a team to negotiate lower closing costs for homeowners about to refinance. As former mortgage professionals we know which fees are negotiable by just asking the right questions. We have formed relationships with several credit card companies and collection agencies which allows us to negotiate lower payoffs on revolving debt and installment loans.
There is no fee for our service unless we are able to save you money. If we can't save you money.....there is absolutely no fee. It's that simple! If we are able to assist you with a savings, our fee is based on a percentage of the amount saved and is not collected until the time of closing. As a homeowner, you have absolutely no risk by using our service. We've received countless letters from customers stating "it's about time someone thought of a service like this!"
Everyday thousands of homeowners across the nation sit down at a closing agent's office and "blindly" sign documents without really reviewing the numbers. As former lenders we understand that the average person believes that their loan originator is working in their best interest. However, there is one fact that is true in every case: loan originators work for the lender and their job is to make money for the lender. Many people don't realize that most loan originators actually work on commission. Why would a loan originator work to lower your closing costs if their paycheck comes from your fees? Also, why would the closing agent work to have your fees lowered? Closing agents make an excellent income closing mortgage loans. Lenders want to work with closing agents who close their loans quickly and with little questions. If a closing agent is in "good graces" with a lender then they have a very profitable business. Many homeowners rely on their lender to refer a closing agent.
Just to give you a little background, up until the 1990's getting a mortgage loan meant that you had to have "A" credit. In the 90's a whole new form of lending opened up called "non-conforming". What "non-conforming" lenders do is offer mortgage loans to people who do not "conform" to the normal standards (i.e.: credit problems, self-employed, manufactured homes just to name a few). While there is a great need for these non-conforming lenders there is a major problem. The fees associated with these loans are extraordinarily high. It is not at all unusual for a loan origination fee to be 8 of the loan amount. This means that on a typical $60000.00 loan the origination fee is $4800.00. The non-conforming lenders are able to collect the fee by explaining that it is necessary to grant the loan. But remember.....these originators work on commission. When a customer does complain about the high fee it is sometimes lowered but only after the interest rate! It is absolutely crazy what is going on in this industry. If you sit down one evening and make a point of noticing, you will probably see at least 4 commercials for mortgage companies trying to get homeowners to refinance. It is a booming industry and it is not going to slow down in the future. Unfortunately, there will always be homeowners with credit card debt and credit problems. These homeowners aren't as concerned as they should be with interest rates. As people try to get out from under the burden of their credit card debt there will always be a need for non-conforming.
The average homeowner would be shocked at the fees that can be eliminated. The fees are often referred to by lenders as "junk fees" when a homeowner isn't listening. The lending institutions are taking advantage of homeowners and depriving them of their home's equity. We know the secrets to having these fees waived and put our knowledge to work for you. Every homeowner needs an unbiased person with no ties to their lender or closing agent reviewing the final figures before signing. We work for you to save you money.
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HOW OUR SERVICE WORKS
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Our process is very simple: When your loan is pre-approved simply contact us and give us the name and number for your lender, closing agent and any credit card companies you may wish to be paid in full. We have two documents signed: 1) a general release authorizing us to discuss your situation and 2) a fee agreement setting forth the terms of our payment. AGAIN, IF WE ARE UNABLE TO SAVE YOU MONEY - NO FEE IS CHARGED! Once we have the release we go to work contacting the parties to reduce the closing fees. When the figures have been finalized we submit an invoice to you and the closing agent for our fee. The closing agent deducts our fee at closing and puts the rest of the savings back in your pocket where it belongs!
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