Bankruptcy Lenders - Caution!

[Tedderbear]

been there

Can you post your good faith estimate so we can see it

[JeepMom]

Once you apply you are supposed to be provided a GFE within 3 days of application, that is the law and if it was not provided then they are out of compliance with RESPA (Real Estate Settlement And Procedures Act) I would ask for your GFE now.

Our broker sent us one before we even knew what it was.

[chucko]

I HAVE closed a loan with NLMC. I really don't understand what all the fuss is about. I worked with Tom and Dan,and like I said,Melissa and a few others once the process was started. They did a GREAT JOB for us,when no one else would even pre approve us or look at us. When we closed on our house,everything went smooth and all of the fees were what we expected to pay. If you can find someone who can do a better job...good luck! But it seems like some people on here are stirring the pot for their own self interests!! I passed this info on for the benefit of people who were in our situation.(BK) I did it because I found someone who actually does what they say!! After talking to a million brokers,NLMC was the only ones who came through for us!!

No offense, but you have been nothing but talk as far as NLMC is concerned. You haven't posted your GFE or told us what your terms are. If they did such a good job, please share that info with us so we can have an idea of what they can do. Please post your GFE.

[cruserone]

We want to see!!!! Seriously it would help tremendously..

[been there]

not true Chucko...I have told my story and how we got approved,who we tried to get a loan through, and who DID help us. I offered what I learned to help other people who were in the same boat as we were. If NLMC bothers anyone.....DONT CALL THEM, or use someone else!!! I really could care less. I was just trying to steer people in the right direction who have had a rough time finding anyone to help them...like me and my family. Though I am generally against posting my personal business on the website and how much I paid for my house,I will go find my cost sheet(when i have a few minutes) and put the costs on here so you can judge for yourself. But please...I was only trying to help people who got screwed around like we did for months from a bunch of brokers. If that offends you...sorry

[Momof123]

Hi all mostly a lurker here but I just was curious myself about this company and any others you may know of. We had our ch7 discharged 8/2005, we have a few credit lines all in good standing and 2 years ago we had refinanced and got a second mortgage ( fixed) and a first mortgage arm ( i know dumb dumb dumb) but I thought it would help us, turns out it didn't and we slipped further hence the bk, anyhoo we are due for a second adjustment and it is getting really high and I was hoping to find someone to refinance us and combine both mortgages and get out of this terrible loan. But I am afraid with the recent bk, and hubby has changed jobs a few times ( always working just not in same field) that we will have a problem.

So any recommendations are greatly appreciated.

Thanks

[MTG_BANKER_OH]

Hi all mostly a lurker here but I just was curious myself about this company and any others you may know of. We had our ch7 discharged 8/2005, we have a few credit lines all in good standing and 2 years ago we had refinanced and got a second mortgage ( fixed) and a first mortgage arm ( i know dumb dumb dumb) but I thought it would help us, turns out it didn't and we slipped further hence the bk, anyhoo we are due for a second adjustment and it is getting really high and I was hoping to find someone to refinance us and combine both mortgages and get out of this terrible loan. But I am afraid with the recent bk, and hubby has changed jobs a few times ( always working just not in same field) that we will have a problem.

So any recommendations are greatly appreciated.

Thanks

The main thing you need to look at are what are your credit scores currently? and what is your home worth compared to what you owe? You can get a loan right out of BK but you need to get us some answers to these questions and we can see what can be done to help you. You can get your scores up quickly after a BK if you reestablish some credit, also were there any mortgage lates?

[chucko]

The main thing you need to look at are what are your credit scores currently? and what is your home worth compared to what you owe? You can get a loan right out of BK but you need to get us some answers to these questions and we can see what can be done to help you. You can get your scores up quickly after a BK if you reestablish some credit, also were there any mortgage lates?

Absolutely. My BK was discharged in March of this year, and my credit scores were like 502, 515, 509. I got some incorrect stuff deleted, opened 3 credit cards and a Target store card and used them, and worked at getting some other stuff deleted, and two weeks ago when I applied for a mortgage my middle score was 628.

It does take some reading to understanding your credit report and what you can do to make your scores better, but it's amazing how much improvement is possible just a few months post BK. Get all those incorrect items fixed or preferably deleted. I guarantee you have some incorrect info on you report, and you need to get it off there.

[Tedderbear]

Been There

When are you going to post your GFE??? We've been waiting for a couple of days now.

[chucko]

Well I contacted Tom at NLMC a week ago and they pulled my credit and everything and I was told I would get a GFE within 48 hours. It's been a week and I have received nothing.

So far I am not impressed at ALL with this company.

[cruserone]

well that makes two of us. I have been waiting since the first week of July. I was told that it was mailed over a week ago. We'll see if it ever gets here.

[winuare]

NLMC...has anyone heard

Has anyone heard back from NLMC? Just curious as to if anyone else had gotten any more information on or from them.

[chucko]

Has anyone heard back from NLMC? Just curious as to if anyone else had gotten any more information on or from them.

I requested a GFE two weeks ago and finally get an email from them today saying they sent the GFE to the wrong address and they are working on getting it to me. Unless it's some ridiculous deal, I don't think I'll be using them. They were very quick to respond to me when I was inquiring as to possible loan terms, but as soon as I filled out an application it took two weeks to hear anything back from them.

If they're busy, they need to hire people. That is absolutely no excuse.

[cruserone]

that is exactly what I was told. They claim the re -sent via overnight air mail on friday . here it is wednesday and I still dont have it.

[MTG_BANKER_OH]

that is exactly what I was told. They claim the re -sent via overnight air mail on friday . here it is wednesday and I still dont have it.

According to RESPA (Real Estate Settlement and Procedures Act) Lenders or Brokers are required by law to send you a GFE within 3 days of your application, or they are not in compliance and can get in trouble.
Here is a general website about disclosures for mortgages:

http://homebuying.about.com/od/mortgagefacts/a/good_faith.htm