Lake Austin Topics: article on highend housing

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	Name:	lucky67 -
	Subject:	article on highend housing
	Date:	2/4/2009 11:27:33 PM

the state banking regulators will tell you the biggest fraud in mortgage lending is from 'out of state lenders' who offer teaser rates--when you get to closing & there are lots of hidden fees--but the moving van is at both houses--most borrowers are sucked into signing the paperwork, even though most times its not what they were quoted; ask any reputable realtor at the lake--they despise out of state lenders; do business with people you know or have good references on; you will not find "jumbo" rates at the levels you saw in some of these comments--jumbos are loans greater than $417,000