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Homebuyers Beware: Who’s Ripping You Off Now?—What You Must Know About the New Rules of Mortgage and Credit by Carolyn Warren

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28. Watch Out for the Ten-Million-Dollar Mortgage Man (and His Cohorts)

The headline was irresistible, the same way watching a bus careen off a winding mountaintop road is irresistible. You know it’s a disaster; and yet, you can’t seem to tear your eyes away. I had to read on.

The headline said a particular mortgage guru brings in over $10,000,000.00 in fees, using a “forgotten system.”

The subhead was even better. It went on to ask “frustrated loan officers” if they didn’t want to learn how to take an “unfair advantage” over the competition.

This guru claims that he and his cohorts are making $10,000 to $20,000 fee deals as steady as clockwork. And the best part is that it seems anyone can use his method to make the big bucks because, as he ...

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