Welcome to an Easier Way
The Gold Seal Homes Way
Do You Want This to Be Your Story?
When my wife and I moved into our first home, it should have been a joyful occassion. Instead, we lay there on our bed at the end of the day and said, "How are we going to make the mortgage payment?"
How did we go from joy to anguish?
We thought the real estate agent was looking out for us. After all, they had shown us the form that said they were acting as a buyer's agent and had an ethical obligation to look out for us. Surely they would act according to the code of ethics they had shown us? We were wrong. They were just looking to maximize their commission. They got paid even if we lost the home, so they qualified us for a home that cost more than we could afford. then they conspired with the seller to make sure the seller did not have to pay more than they wanted to in closing costs.
As a result of delays to closing, engineered by the real estate agents, our interest rate rose significantly causing our mortgage payment to go up more than $350 per month from the time it was approved to the time we went to closing. We were stunned and wanted out, but didn't know what to do.
We thought the lender was looking out for us. Surely they wouldn't want to give us the same loan now that the rate had risen so much? Wrong again! The lender knew that they were going to sell our loan to someone else. If we failed to pay, they still had their money and were on to the next loan.
We thought the lawyer was looking out for us. After all, the lawyer was paid out of our pocket. That means he should represent our interests to make sure the real estate agent and the lender did the right thing for us, right? Wrong! The attorney collected his fee at closing and warned us in a stern voice, "If you don't pay, you don't stay!" It turns out the lawyers at closings have their first duty to the lender, to make sure the closing is done the way the lender wants, and nothing more.
We formed The Gold Seal Homes Group to try to make sure others have a much better experience than we did.
Learn more from Tom at his blog DiamondsFromLemons.com
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