Who can I trust?

[fran2847]

What is the name of your state? MA
I have had several bad experiences with mortgage brokers, the last having to do with my daughter's purchase of a condo. The day of the closing the mortgage lender decided she did not have a long enough rental history to proceed with the closing. All information, including her rental history, was presented with her application to the mortage broker. Is there a reliable, honest mortgage broker out there? Should I go to a local bank when I am ready to buy my new home (I am selling my current home)?
What is your opinion of online mortgage lenders? I have had two previous posts, and greatly appreciate the information I have received. Thank you once again.

 

[HomeGuru]

What is the name of your state? MA
I have had several bad experiences with mortgage brokers, the last having to do with my daughter's purchase of a condo. The day of the closing the mortgage lender decided she did not have a long enough rental history to proceed with the closing. All information, including her rental history, was presented with her application to the mortage broker. Is there a reliable, honest mortgage broker out there? Should I go to a local bank when I am ready to buy my new home (I am selling my current home)?
What is your opinion of online mortgage lenders? I have had two previous posts, and greatly appreciate the information I have received. Thank you once again.

**A: If I recall correctly, you posted a thread (you very first) with respect to an unwarrantable condo your daughter was purchasing. I responded and asked a few questions which you never answered.

 

[fran2847]

We did not purchase the "unwarrentable" condo - did not like the idea of owning "air"! Greatly appreciated your insight!

We did find another condo, but ran into the problems I just stated. Maybe we have problems with all the local mortgatge brokers. Another factor is the inquiries that show up on the credit reports. If we continue to shop around for someone we feel is upfront with us, we will run into problems with the FICA scores. Right now, I am considering holding off on the purchase, let her continue to rent to build up a rental history, put the deposit money in a CD, and wait another 6 months. The gamble is that the condo will go up in price, and she won't be able to afford it. You're a good sounding board, HomeGuru!