[Dave W]

Many if not most of these no name mortgage companies are simply brokers. No clue where their loan money comes from, but shortly you may find that they no longer exist and you need to send your check, usually with different terms you can't challenge, to some other unknown money lender. The only thing that, luckily in my case, the interest didn't change but payment dates and other things did. My last house in 7 years, had 4 or 5 different entities where I sent my dollars. At least 3 times they said that my check never got there and I needed to prove otherwise - all of which was wasted time and more then a couple dollars. Then there was the hit to my credit rating.


What I'm saying is to be really careful where you borrow money