really Curt?? More like calling a spade a diamond. Huge fees?? CHIP charges no fees to set it up…appraisal and legal fees that’s it! Uncompetitive interest rate?? between 4.75%-5.95%…not sure how long you have been around but you should know what non competitive is! Are there better rates on regular mortgages? Of course, those are not regular mortgages. We get many calls for clients wanting to pay off the HELOC or regular mortgages because they don’t want the payment anymore and need better cash flow…I also get many inquiries that end up with a HELOC or regular mortgage. Blanket statements like you make are a tad ignorant to be honest…as a financial ADVISOR, you should educate yourself properly in order to advise better.
CHIP’s posted rates, and beside them my mortgage broker’s posted rates.
1 year 5.25% / 2.74%
3 years 5.65% / 2.89%
5 years 5.95% /3.19%
Appraisal Fee from $175 to $400 / $0
Wednesday, January 18 @ 9:19 pm
curt.hanselmann.7
Let’s call a spade a spade here – these are as bad a scam as the crap that took the global economy down in 2008 – fortunately, just not as big!. They scam seniors with huge fees, uncompetitive interest rates and total inflexibility. Instead of “looking at the demographic over the longer term” bankers should be taking this market away from the bandits. A HELOC or even a conventional re-mortgage will work much better for those seniors, and ensure that the bulk of the equity will benefit the client rather than the bank.
Outlook for global equity and fixed-income markets
foomanchu
really Curt?? More like calling a spade a diamond. Huge fees?? CHIP charges no fees to set it up…appraisal and legal fees that’s it! Uncompetitive interest rate?? between 4.75%-5.95%…not sure how long you have been around but you should know what non competitive is! Are there better rates on regular mortgages? Of course, those are not regular mortgages. We get many calls for clients wanting to pay off the HELOC or regular mortgages because they don’t want the payment anymore and need better cash flow…I also get many inquiries that end up with a HELOC or regular mortgage. Blanket statements like you make are a tad ignorant to be honest…as a financial ADVISOR, you should educate yourself properly in order to advise better.
Wednesday, January 11 @ 12:25 pm //////
c.hanselmann.6
CHIP’s posted rates, and beside them my mortgage broker’s posted rates.
1 year 5.25% / 2.74%
3 years 5.65% / 2.89%
5 years 5.95% /3.19%
Appraisal Fee from $175 to $400 / $0
Wednesday, January 18 @ 9:19 pm
curt.hanselmann.7
Let’s call a spade a spade here – these are as bad a scam as the crap that took the global economy down in 2008 – fortunately, just not as big!. They scam seniors with huge fees, uncompetitive interest rates and total inflexibility. Instead of “looking at the demographic over the longer term” bankers should be taking this market away from the bandits. A HELOC or even a conventional re-mortgage will work much better for those seniors, and ensure that the bulk of the equity will benefit the client rather than the bank.
Monday, January 09 @ 11:21 pm //////