Mortgage Insider Just Shared A Big Problem With Mortgage Rates And Credit Companies

➡ The government is considering a proposal to allow Freddie Mac to securitize second mortgages, which could unlock a trillion dollars in home mortgages. This could drastically affect mortgage rates and the rate at which banks give loans. However, this could also lead to people losing a lot of money, while others save. It’s advised to wait 30 days before getting a mortgage due to these potential changes.

An absolutely massive change is coming to the mortgage industry. I just got off the phone with my mortgage insider because I shot him a call based off of a proposal that’s being pushed out right now in front of the government to allow Freddie Mac to start to securitize second mortgages. This is a big deal. It is going to unlock a trillion dollars worth of revenue or value in home mortgages that have been locked up due to the inability to refinance because so many people have low rates. But there is a massive consequence. I’m going to share that consequence with you.

I’m going to share with you stories from my insider of phone calls that he is getting just this week alone of people in tears, afraid of losing their jobs because of special phone calls they’re getting. We’re going to be talking about credit polls. We’re going to be talking about trigger leads. And I want you to sit back and think about, and if you’re thinking about getting a mortgage right now, I would seriously urge you to wait 30 days for two reasons. These changes that are going to be rolled out over the next 30 days are going to drastically affect rates and they are going to affect not the Fed funds rate or the ten year bond rate, but the rate at which banks give you loans at.

Because when the government steps in and starts securitizing these loans, please understand how big of a deal this is and that banks can get money cheaper. Okay? There are going to be people that get taken for a lot of money and they’re going to be people that save a lot of money. The second reason I want you to stick around and think about this or think about your mortgage situation is because in next 30 days, we’re going to be, I’m going to be flying across the US to sit down with my mortgage insider and we’re going to be doing an AMA specifically on the mortgage industry.

All of the issues and how to circumvent these issues and how not to get conned by your mortgage broker. Okay? This is a big deal. And so what I’m doing is I put a link down below to my newsletter. Everyone that’s on the newsletter is going to be getting a link to sign up in a couple of weeks for this mortgage AMA. And if you don’t have a mortgage, you’re going to, and you want to buy a home, you’re going to want to see this, okay? Because you’re going to learn so much in that AMA, especially when it comes to trigger credit pulls, okay? And this con that’s going on between rocket mortgage, the nation’s largest, largest mortgage lender, and what’s happening with all these companies like credit karma.

Okay, they are leading to some bad things. So let’s start with this. $1 trillion in unlocking first the problem. We have a lot of people that refinanced. I did a video, I did a handful of videos right before it was December of, I want to say, 2021, where I was imploring people to refinance their homes. I got hundreds of emails of people thanking me about six months later because I said, if you do not refinance right now, you are going to miss out on the savings of tens of thousands of dollars over just the next couple of years because I knew where rates were going.

Type one. If any of you are here because, and you remember that and you did the refinance, I got hundreds and hundreds of emails thanking me for this, right? Because I could see these cycles because these aren’t any different than what happened during the great financial crisis. And now with this news, this proposal about Freddie Mac securitizing second mortgages, it’s a big deal for two reasons. Right now, the second mortgage industry really doesn’t exist. There’s too much risk involved and banks do not want to take it. So see, some people, 27 TC remembers that. So it doesn’t really exist.

It’s too expensive, there’s too much risk. Banks don’t want to take it on. However, if they can sell you a loan, take your money, take your, and charge fees for servicing the loan, and then wrap that loan up and sell it to the government. Please hear me. They’re gonna do it. And it is going to cause so many people to dive into the secondary mortgage market. But there are ways to secure that second in a way and save a lot of money doing it that most people don’t realize. And it’s what I specifically went through in 2000, 920 ten, and thank heavens I had my second set up right and I didn’t lose anything.

Now, another thing that’s going on is Helocs don’t really exist. I mean, they exist, they’re out there and you can get your best deals with credit unions and your local banks and we’ll be talking about how to do that in that AMA. But those two aren’t really getting, you know, happening because it’s so expensive. So the cost has to come down. So the government is about to step in and start to securitize these and there is going to be a flood of refinance which could be an absolute boon to the economy. Now, let me explain why.

In the last week, my mortgage insider has told me that he has had five phone calls of people practically in tears, panicking for a couple of different reasons. First, they can’t understand, well, this is really what it comes down to. It’s called trigger leads and it’s done in a way where you get all of these fancy marketers, right, and whoever does the best marketing in this industry gets the business. And you pay hefty for that. Most people don’t see it because the rates are changing so rapidly and fee structures are changing daily by the time most consumers because they don’t know how to shop for a mortgage or a refinance or this also lines up with the auto industry and not really student loans, but really the auto industry.

They lock in a rate and they get the loan and they don’t realize that they were just taken by a company. And it even happens in brokerages where they’re selling stuff off to rocket mortgage stuff because they’ll be able to bend numbers a little bit. But it’s numbers to get you into the loan, but it has nothing to do with your bottom line, how much you’re paying, your rate and your point structure, right. And so what happens is a lot of people are out there trying to get an idea of refinancing. Now, type two, if this has happened to you, you’ve looked for a refinance.

You go to a company like Credit Karma, one of these online mortgage companies that say, hey, we’re going to get you the best rate possible, like bank rate. You type in your information and they’re going to check your credit. And it’s called a soft pull. And it’s usually, it’s just one credit company they go with. And what happens is they sell your information to tons of people, tons of banks, and by the next morning, as a matter of fact, I’ve had phone calls in the middle of the night getting messages or texts from banks begging for your business.

It’s getting so bad. My insider told me that one of his clients this week said they were in fear of losing their jobs. Their phone was exploding. They were getting like 60 calls a day from lenders. Why? Because they have no business. There’s zero business. Now this, now ironically, this event that I’m talking about is not going to help the housing market. What it is going to do, it is going to cause so many people that are in serious debt. They took on way too much car loans. They got high credit card balances. They’ve overextended themselves and their inflation is taking over their monthly pay.

So what they’re going to do is this is the way they can go and tap in to their home equity to pay off debt. Now, I’ll explain why. Think about somebody right now that is sitting on a mortgage of $350,000, but yet the house is valued at 600, regardless if they can sell it or not. Because if they were, most people were to put their hell in the market for what they think it’s worth. They couldn’t sell it because we’re seeing home reductions everywhere. But it’s different when you’re going to get a second mortgage. So they’re sitting there going, I need money desperately to pay off my debts and I can’t pay them off with my home equity because if I was to lose my 3% mortgage or three and a half percent mortgage on the 300 grand, even though I’ve got, let’s say, 350,000, let’s say I’ve got another 250,000 in equity, if I was to try and tap into that, I’d have to refinance into a new first.

I can’t afford that payment. And banks aren’t really doing seconds. You go into a bank and they laugh at you. They’re like, we’re not doing seconds. And if you wanted to heloc based on the simple interest, you’re looking at the payments and the rates and you’re like, there’s no way. So what’s happening is what this $1 trillion is about to be unlocked, this, and I believe it’s going to start at the end of June. That’s why we’re going to race to get this AMA done and get all of our notes ready and get prepared for this to bring you the most amazing info ever.

Because what these people are going to do is they’re going to go, I am in serious debt. My car payment, my credit card payments, and I want to remodel my house because people do crazy things like that, right? Let’s say all those payments add up to $2,000 a month. They go, well, shoot, if I pull out a $50,000 2nd, because now second rates are coming down and banks, they won’t come down anywhere near what the first is obviously right, or even what a first is right now, currently, they’ll still be higher, but when amortized over 30 years, when you look at that, someone goes, oh my gosh, let’s say my payments add up to like $2,000 of my debt.

When I’m amortizing it, in a second, my payments are like $1,000. So I’ve got a $1,000 free in my pocket. Who cares that I’m exchanging simple interest loans with like, let’s say five year or eight year terms into a front loaded amortized loan, amortized over the next 30 years. They don’t care about that. All they see is the dollar amount. That’s what the consumer cares about. That’s all they care about. And they have no idea that they’re drowning in debt. They’re destroyed. And that the reason why a mortgage is called a mortgage is because it means death contract.

They’ll never get rich. I learned the mortgage industry so well in 2001, I was buying homes for nothing, down refinancing, doing all of these different things and saving so much money and walking away with cash in my pocket every time from my broker because I knew the game. And very few people understand this game well. So now banks, credit karma and all these other companies, they sell your bank rate, they sell your information to the highest bidder. And banks and lenders are out there buying these, what they’re called trigger leads and they’re harassing people, right? It’s getting absolutely insane.

The one thing that people need to understand, we’re talking about these online companies, they give you a quick credit, they lie about their credit numbers. My insider was talking to me about, he goes, look, there’s a difference between a soft pull and a hard pull. And they do their best to try and give you the best rate. So you know where you’d say, hey, your credit score is this and you go, oh, man. And they say, you qualify for this, this and this. And what they do is they lead you down a primrose path. And because it was a soft pull on your credit, they only pulled one and they took the best one, right? They don’t expose the other two that are lower.

You get all sucked into a mortgage and then you’re about to buy a house or get into a refi, and then all of a sudden underwriter sits there and they do a hard pull on your credit and they go, you don’t qualify for this. And you freak out and they go, well, if you want to qualify for the home, now that you’ve already gotten all excited about it, it’s going to cost you extra and you’re going to cough up the extra. And there’s these things in the inside. As a matter of fact, if there’s any mortgage brokers type three.

And if you understand what I’m talking about, let me know if you agree with what I’m saying. Because all of these, the brokers that sit in the office and every day are checking the rate sheets. I mean, it’s not even a sheet anymore. It’s obviously online. You could tell my, my age. But when they see the day to day movements and they see the difference, and think about this, when you go, you’re going to put down 20%. And someone goes, yeah, say, you know, you with your credit score, with your financial background, you may want to put a few percent less down.

And people like, what? But I’d have to pay PMI. And they’re like, yeah, but the PMI is so little in comparison to the difference in the rate I’m going to be able to get you. It’s absolutely insane. And it’s, it’s little tricks like that that there are brokers that are good brokers. They get it. They’re sitting at the desk, they’re like, I know how to save you a ton of money, but I can’t compete with a company that’s sponsoring a NASCAR out there and that’s out there just in your face every second. And they’re telling you, oh, this is the rate you’re going to get.

And then at the last minute it’s a little change. Very akin to what happened to me in my very first home. And the mortgage broker tried to, the lender tried to pull a swift fastener on me and charge me an additional ten k. And, and I said, no, I’m walking away unless you take that off. They eventually took it off. They tried to threaten like, you’re gonna lose this house. I saved $10,000 on my very first home. And that’s what led me to discovering how to access money cheaply, like at the best prices and the best rates possible.

And I’ve told you before, said the market’s gonna change and you’re gonna see ninja loans again. You’re gonna see all these kind of crazy things. Well, now you’ve got the government these, this idea floating, and it’s going to pass. You watch. This summer, you’ll see securitization of second mortgages, which is going to put the government in a massive hurt locker as home prices keep falling. But it doesn’t matter what’s going on the home sale front. When you’re talking about right now, you’re talking about refinance. They’re going to be doing some crazy, you’ll see. I talk to appraisers all the time and right now they’re getting a little worried and they’re like, no, we’re not throwing out these pie in the sky numbers, but you’re gonna start to see with the securitation of seconds, you’re gonna see in house appraisals, you watch.

And when this happens, it’s a killer sign that you’re on the right path. If you’re holding off, you’re waiting, but if you can’t wait, I get it. So I’m gonna show you how to save money. So here’s the deal. This AMA is going out. It’s gonna be limited to certain amount of people. So whoever signs up first, it’s gonna be first come, first serve on the list of the emails. So it’s anybody on the what’s it? The email list will receive an email in about two, two and a half weeks. I’m going to be flying across the country to get this AMA set up because I want to bring you the best information possible.

So I’m already taking tons of notes and getting all this information ready so we can answer your questions live on this AMA. If you want to check it out, sign up. If not, just know this. The securitization of seconds is going to be a big deal. Unlocking a trillion dollars is going to be a little float and it is going to be something that the current president is going to tout as something amazing and it is going to absolutely spell disaster for the government’s finances. We all know it’s a complete wreck and we know if there’s a problem and they have to print more money, that means more inflation.

I’ve told you, there’s a second wave of inflation coming in to get ready for it and these are one of the triggers that will be set off in the markets. Hope you got something from this. The economic ninja is out..

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