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Restarting your finances after divorce

After I divorced from my wife, I needed to start building my finances back up again. I have started this website to show people how you can save money and invest it sensibly after your divorce. You will not be able to get rich overnight, but by taking a long term view you should be able to get your finances in order and buy a new house or other things like that. I want my kids to know that I am doing OK financially and I want to make sure that I can keep giving them the lifestyle that they deserve when they are with me. I am sure you want the same things.

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Reasons to Consider Enlisting the Services of a Mortgage Broker

by غزل موسوی

Not many people have the luxury of constructing or purchasing a home outright with cash. As such, the lending industry is flooded with individuals looking for loans to help them achieve their dream of becoming a homeowner. This influx of borrowers in the market has made it difficult to get loans from banks as the requirements have become quite stringent. However, this does not mean that you will not be able to get a mortgage. Here are some of the reasons why you should consider enlisting the services of a mortgage broker.

A mortgage broker is time effective

The first thing to note about mortgage brokers is that they are well versed with the industry. If you are to search for a mortgage on your own, chances are you will spend numerous hours knocking on lenders doors. When you enlist the services of a mortgage broker, they do the legwork so that you don't have to. They already know what the various terms and mortgage rates that are available in the market. All you need to do is give them your financial preferences and they would be able to match you with a lender that would be open to a mutually beneficial transaction. This also means that you are more likely to get a mortgage in a shorter time frame than if you were making individual comparisons of various mortgage lenders on your own.

A mortgage broker has better access to lenders

One of the characteristics of mortgage transactions is the amount of paperwork involved. In addition to this, there is always some form of bureaucracy to follow. This means that you should not assume you will always make direct contact with the mortgage lender. Instead, you would have to go through several channels before even getting any approval. When you opt for a mortgage broker, you are entrusting the process to someone who has much better access to these lenders than you do. Not only will the mortgage broker be able to make contact with potential lenders much more easily, but depending on their reputation, they may also be able to facilitate the provision of special rates for you.

A mortgage broker can help you cut costs

Mortgages typically come with an array of fees that inflate the overall cost of the loan. Some of the fees include application fees, appraisal fees, origination fees and more. An experienced mortgage broker will know how to navigate the process and try to get their preferred lender to waive some of these fees for you. This can significantly reduce the amount of money you would have to pay back.

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