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A short note from the CEO of Mortgage123.com:

I would like to personally thank you for your recent inquiry into our services. By this time, one of our mortgage experts may have already contacted you. If not, expect to hear from someone shortly.

First, let me congratulate you on your awareness of the internet in helping you shop for a mortgage. The internet can be a wonderful time-saver but it is also important to be aware of its shortcomings. You're able to review multiple offers in seconds but how can you be confident in each company's ability? How will you know if they truly consider your personal needs and your plans for the future?

Did you know that most mortgage shopping websites just sell your personal information to mortgage companies? The companies that buy those "leads" train their loan officers to sell. Sell the "deal", get the check, close it, get paid. That really is the prevailing attitude in many companies! I think that stinks! Burn and churn, bait and switch... the very same terms used at car dealers and penny stock boiler rooms. I’ve heard them at companies that I have worked for in my earlier years in the business as a loan officer. I despised that attitude.

Once I became CEO of my own company, I set out on a different course. And that course begins by really understanding the needs and wants of our customers. It begins by asking questions. Our mortgage experts are not customer service reps, there simply to take "sell loans". Actually, you will see that our experts will ask some questions that you will not hear from other companies. Because there is so much more involved with mortgages than just rates and points. Unfortunately, we’ve been conditioned to think only in those terms. But that's a mistake. When you borrow money for 15, 20, 25 or 30 years, you are making a decision that will dramatically affect your future! It is crucial you consider a number of items before borrowing such a huge sum of money, whether it be $50,000 or $500,000.

Please take a moment to consider the following questions:

How long do you think you might live in this home?

How long do you have before retirement?

Do you plan on being debt-free when that day comes?

Do you have a plan which will help you get there?

Of the following goals, which would you say is a top priority currently?
  • Improve monthly cash flow
  • Create a 6-12 month cash reserve account
  • Maximize retirement savings
  • Increase investment contributions
  • Increase savings for education
  • Maximize asset portfolio performance
  • Live comfortably on one income
  • Live comfortably on a fixed income
  • Create a comprehensive financial plan
Which of the following is most important regarding your mortgage financing:
  • Determine the maximum purchase price and loan amount I can qualify for.
  • Determine purchase price and loan amount most appropriate for my income and lifestyle.
  • Obtain a targeted monthly mortgage payment amount.
  • Purchase a home within a specific budget down payment and closing costs.
  • Have ability to sell, pay down, pay off, or refinance home without penalty.
  • Maximize tax benefits.
  • Avoid or get rid of mortgage insurance.
  • Consolidate debts
  • Do home improvements
  • Qualify for new home prior to, or without sale of existing home.
While I don’t want to minimize the importance of getting a very competitive interest rate and low fees, you MUST consider the "Big Picture". Our mortgage planners will help you see the big picture AND provide you with the most competitive mortgage programs available today.

Thank you for your time,

Ron Borg
CEO
Mortgage123.com


"Most people spend more time researching the VCR or DVD player they plan to buy than they do making sure the mortgage they select is right for their specific financial needs. A DVD player costs about $300 – 400 but most homeowners will pay $10,000 to $50,000 per year on their mortgage payments. Make sure you work with a mortgage planner who takes the time to structure your mortgage loan so that it works well with your overall financial strategy."
- Barry Habib, CNBC