{"id":1141,"date":"2007-03-13T11:06:27","date_gmt":"2007-03-13T18:06:27","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1141"},"modified":"2008-01-08T20:35:11","modified_gmt":"2008-01-09T03:35:11","slug":"countrywide-lendingtree-bear-stearns","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1141\/countrywide-lendingtree-bear-stearns\/","title":{"rendered":"Countrywide, LendingTree and Bear Stearns Mortgage"},"content":{"rendered":"

The lending roller coaster is just starting to roll<\/strong><\/p>\n

Most real estate professionals have to deal with an occasional unexpected consequence involving lenders… but not a string of them like this revelation.<\/p>\n

A client of mine decided to be a generous friend. He’s not a wealthy man in the strictest sense of the word, but that doesn’t stop him from trying to help his fellow man – or woman, in this case.<\/p>\n

Some of you might know a little about him, as he is Jack in my interview<\/a> with noted investment real estate broker Jeff Brown<\/a><\/strong> on my website.<\/p>\n

Jack has a friend who has been living in a drafty house owned by a slumlord. Although she didn’t live in a slum – the owner was treating the building as if it was. She was paying as much as $300 or more each month to heat her little place, as the cold wind blew through it like Swiss cheese.<\/p>\n

While looking at other investment opportunities for Jack, he asked me to find a condo that he could buy for this friend – thus allowing her to get out of this awful place she was living in.<\/p>\n

Remember – no good deed goes unpunished<\/strong><\/p>\n

My favorite mortgage broker found the perfect program with Countrywide – an 80\/20 loan for non-owner occupancy… and I found a perfect condo that Jack’s friend really liked – and with a price that worked.<\/p>\n

Our offer, though aggressive, was accepted. So far – so good.<\/p>\n

Enter the lead aggregator LendingTree. Jack logged onto their website to look at doing a refi on his home. What Jack did NOT know is that LendingTree would give his info to a dozen lenders who would all pull Jack’s credit (not pulled once and shared with member lenders like you might believe).<\/p>\n

So what difference does this make?<\/strong><\/p>\n

Plenty. While Jack was rearranging his finances and paying off debts – he was draining his cash reserves down. The refi was going to bring cash back into the picture for the rehab of his next real estate acquisition.<\/p>\n

The trouble is that when all those LendingTree lenders pulled his credit – his credit Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The lending roller coaster is just starting to roll Most real estate professionals have to deal with an occasional unexpected consequence involving lenders… but not a string of them like this revelation. A client of mine decided to be a generous friend. He’s not a wealthy man in the strictest sense of the word, but […]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1141","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":726,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/726\/dave-liniger-the-power-of-selling-a-dream\/","url_meta":{"origin":1141,"position":0},"title":"Dave Liniger: The Power of Selling a Dream . . .","author":"Greg Swann","date":"December 1, 2006","format":false,"excerpt":"This is an excerpt from Everybody Wins: The Story and Lessons Behind RE\/MAX by Phil Harkins and Keith Hollihan. Jeff Brown and I were talking about this on the phone the other day, and I thought I'd share it. Don't read this as an unlimited endorsement of the book. It's\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"http:\/\/www.assoc-amazon.com\/e\/ir?t=gregswann-20&l=as2&o=1&a=0471710245","width":350,"height":200},"classes":[]},{"id":3105,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3105\/the-joker-is-your-ace-in-the-hole\/","url_meta":{"origin":1141,"position":1},"title":"The Joker is Your Ace in the Hole","author":"Sean Purcell","date":"May 12, 2008","format":false,"excerpt":"\u201cEat your peas.\u201d \u201cDon\u2019t talk to strangers.\u201d When we were young, we heard many admonitions.\u00a0 Being of curious mind, I always had a lot of interests, so one particular admonition I heard repeatedly was: \u201cA jack of all trades is Master of none.\u201d\u00a0 The implication being that someone with a\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2194,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2194\/you-have-your-real-estate-niche-%e2%80%93-does-your-website\/","url_meta":{"origin":1141,"position":2},"title":"You Have Your Real Estate Niche \u2013 Does Your Website?","author":"Eric Bramlett","date":"November 9, 2007","format":false,"excerpt":"Back in the day, I wanted it all. I obtained my real estate license, then my property\/casualty insurance, then my life & health, and I was ready to get my mortgage broker license, as well. I wanted to OWN the transaction \u2013 and every transaction. Are you looking for a\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9023,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9023\/face-down-in-iceplant\/","url_meta":{"origin":1141,"position":3},"title":"Face Down in Iceplant","author":"Geno Petro","date":"June 30, 2009","format":false,"excerpt":"To pluck a petal from the bloom of\u00a0 friend and\u00a0 recondite commenter, Don Reedy, I've been 'face down in a slope of iceplant'\u00a0 for 30 days. Yes, iceplant.\u00a0 (I'll let the man himself expound a little later but allow me to tempt you with the essence of his yarn---- it\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2969,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2969\/is-eric-blackwell-the-best-father-the-best-friend-he-could-be-on-his-way-to-being-named-greatest-real-estate-agent-in-the-world\/","url_meta":{"origin":1141,"position":4},"title":"Is Eric Blackwell the best father? The best friend? He could be on his way to being named Greatest Real Estate Agent In The World","author":"Greg Swann","date":"April 14, 2008","format":false,"excerpt":"Eric Blackwell showed us all yesterday what a great job he's doing as a father. Today, Ryan Ward offers potent evidence that Eric is a very good friend to have: He is throwing his support behind Eric in the SEO contest to determine who is the Greatest Real Estate Agent\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1216,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1216\/skewer-you-jack-youre-the-guest-of-honor-at-a-feeding-frenzy\/","url_meta":{"origin":1141,"position":5},"title":"Skewer you, Jack! You’re the guest of honor at a feeding frenzy","author":"Greg Swann","date":"March 25, 2007","format":false,"excerpt":"FBS Blog:Think about this: Trulia\u2019s brand is trumping the franchise brand, requiring payments to Trulia, and the franchise brand is trumping the brokers\u2019 and agents\u2019 brands, requiring payments to the franchise. At the same time, the brokers and agents in the field are building the business relationships that form the\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1141"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}