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Mortgage Broker News | 06 Feb 2014, 10:00 AM Agree 0
Refinances may be down due to tightened lending guidelines, but brokers are turning to an old stand buy that has some worried desperate clients will be taken advantage of.
  • Ron Butler | 06 Feb 2014, 06:21 PM Agree 0
    Let's put the facts out there: some second mortgages are very high risk. High risk requires high interest rates and high fees. The key is honest, ethical and full disclosure.

    I am the first guy to buy down rates for perfect consumers but I am also here to say that those with terrible credit, no income verification and mortgage arrears should expect to pay the correct rates and fees for high risk mortgage solutions.

    It may not be fair to say there's a lot of "gouging" going on, it may be true but in some cases high rates and fees are called for.
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