Working with mortgage brokers makes sense

Editor,

In reading this article on ‘vanilla’ home loans, (http://www.floridarealtors.org/NewsAndEvents/n1-062209.cfm), if the mortgage broker is not around any more, how are all of these loans going to be made when you have banks like Bank of America and Suntrust that are MONTHS behind in closing due to all wanting to refinance.

By the time they are able to close on the loan, the rates have gotten higher and the borrower does not want to do the loan until they go back down. Working with a mortgage broker on the other hand, we can get the sale closed in two weeks or so. It just does not make sense.

I agree that the ARMs should not be pushed or offered, except only to those that know they will not be in the home that long or as an investment. These are the ONLY people that I recommend them (ARMs) to.

Just my opinion and thoughts, as a mortgage broker with a mortgage broker business.

Chris Suarez
Suarez Home & Finance Corp.
Brooksville

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