Frank Scozzaro - new mortgage programs

Frank Scozzaro spends a hefty portion of time hitting the books, becoming familiar with the constant flow of new mortgage programs as well as staying on top of the changes and upgrades to existing mortgage instruments. “One of the saddest things I see is a couple who jumped at the first loan approval they got and found themselves married to a 30 year incorrectly structured financial obligation they can’t live with or get out of, and it happens every day,” Frank Scozzaro states.
The home mortgage business is profit driven, highly competitive, and doggedly complex. Yet at the street level, where prospective home buyers work with loan representatives, until recently there has been surprisingly little done in the way of regulating the players. Compensated on what amounts to a commission, mortgage brokers faced the same temptations posed before most salespeople, the sin of omission, leaving borrowers too often in the dark as to the finer details of their loan. Even today, as mortgage banking is still a performance based compensation industry, borrowers need to make certain they’re dealing with a mortgage specialist who is not only knowledgeable, but equally honest.
Frank Scozzaro asserts, “Only a tiny percentage of borrowers ever read a mortgage agreement before they sign it. Most know only the amount they’re borrowing, the interest rate and what day of the month the payment is due.” This gives an unscrupulous mortgage lender the opportunity to work any number of fees into the mix, fees that come out of the borrower’s pocket in one way or another. To counter that possibility Frank Scozzaro recommends that borrowers make a copy of the entire mortgage document, then sit down and walk through each and every line, highlighting any sentence or phrase they are not absolutely clear about. Only when they’ve identified their concerns are they prepared to query their lender for meanings. Frank Scozzaro makes this a standard practice and claims that customers go into the transaction with more confidence and peace of mind as a result.
Another positive habit Frank Scozzaro developed is working from checklists. These forms generate questions, explain procedures, process. The result is two-told: the elimination of error and more often than not, a quicker conclusion. “This is a business of details and not for people who like to shoot from the hip. Our customers appreciate the added professionalism we offer by staying true to a proven system,” Frank Scozzaro says.
In the spirit of quality service, Frank Scozzaro offers clients and customers numerous services at no cost. One of the most popular is Frank Scozzaro’s weekly email subscription, Market Watch. This extensive service is for people who are currently in the home-shopping mode but who are looking for a particularly good deal. How it works is simple, after a short initial conversation either in person or by telephone, Frank Scozzaro will email you once a week with all the properties that have come on the market in the previous week matching your specifications, such as price, financing, area, etc. This information gives you a jump on the market.
Another often accessed free service Frank Scozzaro offers is a 24 hour-a-day Loan Pre-Qualification Service. Literally in 10 minutes, either by phone or in person, Frank Scozzaro can determine your realistic home buying capacity and give you the financial specifications you’ll need to look for in your new home. For example, once pre-qualified, you’ll know whether or not you should spend your time looking at homes in a certain price range, requiring a certain down payment, requiring a certain credit profile, etc. Once you separate what you can buy from what you can’t, you’re ready to proceed with confidence, which makes the buying experience pleasant.
Frank Scozzaro will also provide you with a free Loan Pre-Approval, which is significantly more comprehensive, almost like handing you a blank check to go house hunting. Pre-Approved home buyers have more clout in the marketplace. Their offers are taken more seriously, their negotiating position is substantially enhanced, and they can concentrate exclusively on finding the right home. They don’t need to be concerned about whether or not they can afford it, or whether or not they can find financing for it, which is the best position to be in when looking for a home.

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