New Technology tries to beat Predatory Lending
Every day in America, consumers are victims of mortgage loan schemes that cost more time and money than you were told it would. This phenomenon even has a name: predatory lending a term that has become quite common nowadays. But just because it has a name, it doesn’t become okay to do something like this. And if for some reason, you feel a mortgage lender is cheating you, you can always dump that lender and go in for a more open procedure. Worried if you’d find something that’s transparent, and fair? Well, not everyone is taking such injustice lying down and one such person has devised a method that will help you get out of the clammy clutches of unscrupulous mortgage lenders.
Tammy Butler, a Certified Mortgage Banker with over 20 years of industry experience, and her team have created a unique, new Self-Serve mortgage lending technology. This technology allows the consumer, real estate agent or builder to go online in a secure environment. Within 15 minutes, they receive a true loan approval for themselves or their client without ever having to speak with a loan officer. HomeOwnerDirectLending.com evaluates each individual person’s specific financial situation including credit, and in real-time matches and presents the borrower with a selection of lending products from tens of thousands of mortgage options.
All you need to do is select the type/term of loan that you are interested in. The system then immediately begins the underwriting process. The borrower can even view all actual (not estimated) closing costs for each loan match presented. This is, based on the lending program and geography. This means there is absolutely no room for error and no opportunity to add additional costs to the loan. Based on the your loan choice, all figures presented by the website represent an accurate snapshot of the true cost of the loan.
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