2006-07-13 05:28:53 · 2 answers · asked by milliethewestie 1 in Business & Finance ➔ Credit
Hi milliethewestie,
Di-Tech is not bad as long as there is some due diligence on your part.
Absolutely, positively, shop, shop,shop.
By law all lenders are required to give you two very important pieces of paper.
The first is the GFE (Good Faith Estimate), and the second is the TIL ( Truth in Lending Disclosure). Make sure that you receive these from Di-Tech. Again, they are required to give the GFE within 3 days by Federal law whether you ask for it or not.
Take these two disclosures to two other Brokers as soon as you can.
And make sure you have both. This is the only way you can compare apples-to-apples, and make sure you are getting the best deal.
Good Luck,
~Trey
2006-07-13 05:40:00 · answer #1 · answered by ~Trey 3 · 0⤊ 0⤋
Are you taking an adjustable 2nd? Will you use the entire amount? Currently homeowners with 2nds on thier home account for 80% of the defaults. If you have a adjustable 2nd the figure jumps to 95% of the group above. Borrowers are getting pounded with the higher interest rates, if you have anyway to redo your first that is your best bet. I dont care if you have a prepay, a low fixed rate, or not enough seasoning on your home. Business has decreased and hopefully everyone selling loans is cautious you can go somewhere else, so they are offering competitive rates and fees. You are the one who has the ultimate price to pay, dont take a 2nd to avoid paying the cost of refinancing.
I have 1 freind who speaks highly of DI Tech, but 100 clients who hate them.
2006-07-13 12:55:40 · answer #2 · answered by Jacque w 3 · 0⤊ 0⤋