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Moving to almost the great white north.


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Finally friday

Not a bad sunset last night.

Fishing report for the day was 2 little walleye and 1 pretty damn big sturgeon.   guessing the sturgeon was 40-50".          my niece caught it first cast on a $30 zebco with

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Banks can no longer be involved in the appraisal process on any fed backed loan.  

 

That covers loan types of

FHA

Fanny mae

freedie mack

Conventional

etc

etc

etc

 

 

The way it works now is banks must ask a 3rd party company for an appraisal, that 3rd party company goes through their list of contractors in cycles and ask " will you do this?"   

 

when one says yes you then book it.   At that point it is up to the contractor to do it good enough.  

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Did you find an appraiser yet?

 

A little trick..... have patio furniture out with plenty of fishing poles leaning up,  make nice big appraisal :thumb1:

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Nick, you went directly to a bank and avoided loan brokers like Lending Tree and others? Please tell me if you have a reason as we just contacted a broker, but they talk like they are loan sharks. I don't like that. We are wanting to lower our interest rate, we can almost cut it in half at this time.

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Brokers work on a interest rate yield spread that they don't tell you about. Over the life of the mortgage even if the spread is just a third of a point it adds up to many thousands of dollars which they get the full amount of that spread once the loan closes. Car dealers do the same thing and won't reveal that usually.

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someone turned on winter mode.   we have had a few days of -10* so far and the snow is starting to build up finally.   Ice fishing has been slow, but it is better than working.

 

 

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