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Post by Ticket Mouse on Nov 9, 2006 16:09:41 GMT -5
Mike, I can see your frustration but as a person who makes a living off title insurance, it's not our faults. Those closing costs are what the lender requires. It's not us, but since most closings are done with title companies, we get the puck to the crotch. Title insurance is a neccessary evil-in most cases. Banks do it to cover their assets-which is your mortgage. Lenders could do a mortgage w/o it but they see it as an opportunity to get just a few more bucks out of the borrower. Most of the title fees go back to the title company. More than anything, it's usually one white guy who owns a bank was frat buddies with a guy who owns a title company . The title company needs money and tells his bank buddy he'll give him a cut of the premium if the bank will let him insure the loans. The title company then gives 10% or so back to the lender...It's all a scam but your better off with it...
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Post by cowtownmike on Nov 9, 2006 16:19:53 GMT -5
It's not just the insurance; how about all the other bullshit fees they nickle and dime you with. Document fee, copy fee, assessment fee, survey fee, wipe my ass fee...it's all a scam by the man to hold a brother down.
FIGHT THE POWER!!!
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fischer
honorary peso (chingador*)
Posts: 16,271
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Post by fischer on Nov 9, 2006 18:33:01 GMT -5
that's why I pay straight cash Biatches!!!!!!!!!!
(High pitched pimp voice with a gold grill)
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Post by Ticket Mouse on Nov 9, 2006 18:38:21 GMT -5
Now that was stupid.
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sully
honorary peso (chingador*)
Posts: 13,045
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Post by sully on Nov 9, 2006 22:30:52 GMT -5
Fees are fees. I know it's bullshit, but here's the deal...
There is a certain amount in mind (usually a percentage) for every mortgage depending on the selling price. This amount is a standard, and what it takes to pay all those involved (bank, title company, appraisals, taxes, agents commissions, etc.) So, instead of putting this huge lump sum into the paperwork, they split it into all these bs fees. As to make it look like it is all really justifiable. Either way, they have to be paid, so expect to do so.
If I were you, I would try to talk the seller into owner financing. Then you won't have to deal with it. But, it's a pain in the ass to take care of all that shit (appraisals, inspections, shopping a loan, etc.) by yourself. Therefore, you are paying for convenience.
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sully
honorary peso (chingador*)
Posts: 13,045
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Post by sully on Nov 9, 2006 22:32:36 GMT -5
Or, just pay me, and I'll do it. That's gonna be my new trade. Maybe finally I can do something with my degree.
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sully
honorary peso (chingador*)
Posts: 13,045
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Post by sully on Nov 9, 2006 22:33:16 GMT -5
On a better note...All day drinking and music sounds good to me for saturday...I'll be there.
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¡oh holy shit no!
Administrator 
peso
some people don't know shit about the air.
Posts: 2,552
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Post by ¡oh holy shit no! on Nov 15, 2006 13:41:08 GMT -5
middle man fees are bullshit. that's brooks' specialty too. i think they should all just be rolled into one large fee and called the fraud fee.
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Post by bigheadtodd on Nov 15, 2006 20:58:42 GMT -5
Saturday was good music, cold weather, good football, cold beer. Thanks to all.
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Post by cowtownmike on Nov 16, 2006 8:54:32 GMT -5
Bighead!! You ole sunovabitch!! How the hell are ya!!!!
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Post by bigheadtodd on Nov 16, 2006 8:58:36 GMT -5
Bighead!! You ole sunovabitch!! How the hell are ya!!!! Hey! This the Hog Fan here? |
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Post by cowtownmike on Nov 16, 2006 9:00:15 GMT -5
You bet!! How 'bout them Hogs? How's that golf game?
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Post by bigheadtodd on Nov 16, 2006 9:04:38 GMT -5
You bet!! How 'bout them Hogs? How's that golf game? Well sumbitch! I was wonderin which one was you. No golf this week. To much shit going on. How 'bout dem pigs? |
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Post by bigheadtodd on Nov 16, 2006 9:05:38 GMT -5
You bet!! How 'bout them Hogs? How's that golf game? Well sumbitch! I was wonderin which one was you. No golf this week. To much shit going on. How 'bout dem pigs? |
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Post by cowtownmike on Nov 16, 2006 9:08:53 GMT -5
Dang BH...easy on that reply button, buddy! I can relate about all that shit going on, I got a full weekend scheduled myowndamnself!
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