Psssssssst,
Hey you...
Yeah you...
The one getting a loan...
Wanna know a secret?
Shhhhhhhhhhhhhhhh...
It's a good one...
It's called a lock in letter, and it is one of the most valuable assets you have to protect yourself from getting ripped off by your lender. Yeah, I know, he is a nice guy and you trust him. So did many other buyers that got ripped off.
So many buyers are being sold loans by lenders who do not have the ability to provide the loan they initially present. Insisting on a lock-in letter assures you the loan is real and that you actually qualify for it. You see, they could not provide you with the lock-in letter otherwise.
If you request a lock-in letter and it is not provided immediately, RUN as fast as you can. I don't care what the excuse or reason your lender gives you, it is false. No lock-in letter, no business.
Lock in letters are free of charge and guarantee that you will close escrow with the interest rate and terms of the loan that was presented to you initially by your lender.
Don't get caught in a bait and switch by an unethical lender!
Want to know more? I am just chock full of good information. Give me a call 562-212-5420.
http://www.longbeachrealestatehome.com/005ED3
Laurie.Manny 
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