Some HML's will charge a commitment fee if they have to hold the money, and you don't use it.

They already have pre-launch commitments worth about $50 million.

Many times the time commitments between the two are exactly the same, what it really comes down to is what you decide to do with your time.

You're going to get a lot of people telling you how to go about working in this business, but if you really want the best chance at success than I would stress to learn as much as you can BEFORE commiting your money to a particular deal.

have your lawyers write an addendum to the purchase contract disclosing the amount which is the difference between the appraised value and what the seller actually wants... label it a marketing consulting fee to a XYZ company.the key to cash back is the relationship your lawyer has with title company. have your seller order title through your attorney and everything is fine.good luck and if you need clarificaiton let me know...This is advice for how to commit mortgage fraud.

.) -- including a lien on the stock of a cooperative housing corporation (a “co-op”) -- no lender can enforce its due-on-sale clause due to any of the following prevalent circumstances:(1) The creation of a lien (or other encumbrance subordinate to the lender's security instrument) that does not relate to a transfer of rights of occupancy in the property;(2) The creation of a purchase money security interest for household appliances;(3) A transfer by devise, descent, or operation of law on the death of a joint tenant or tenant by the entirety;(4) The granting of a leasehold interest of three years or less* not containing an option to purchase(5) A transfer to a relative resulting from the death of a borrower;(6) A transfer where the spouse or children of the borrower would become owners of the property;(7) A transfer resulting from a decree of dissolution of marriage, legal separation agreement, or from an incidental property settlement agreement, by which the spouse of the borrower becomes an owner of the property(8) A transfer of the borrower’s property into an inter vivos trust in which the borrower is and remains a beneficiary and which [trust agreement] does not relate to a transfer of rights of occupancy in the property; or(9) Any other transfer or disposition described in regulations prescribed by the Federal Home Loan Bank Board.

ARES is committed to providing “real world” professional services while offering affordable, personalized support.

How committed is that?

A commitment fee is not included in the effective interest rate.

There is absolutely no reason not to do things legally and this broker is helping you commit a crime.