Search our Article Directory:

Home | Finance | Mortgages


Home Loan Refinance - Portland Refinance - Bank Refinance 327

By: Alex Refintage

For a free copy of "Mortgage Refinancing: What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com. Simply compare bank rates to those offered by a wholesale mortgage broker and you will quickly understand why bank originated mortgage loans are a bad idea. To get your FREE six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below. While it’s true refinancing your mortgage with a bank is convenient, banks have a dirty little secret when it comes to mortgage loans. Foreclosures provides detailed information on Foreclosures, Bank Foreclosures, Foreclosure Listings, Foreclosure Homes and more. If you are in the process of refinancing your home loan with your bank, you will overpay for your new loan no matter where you bank. To learn more about your mortgage options and common mistakes to avoid, register for a free mortgage guidebook. Because your Bank is exempt from the Real Estate Settlement Procedures Act that requires mortgage lenders to disclose this markup, the only ones that know how much they are overcharging you is the Bank. • Limited Number of Loan Products to Choose From • No Room for Negotiation on Your Interest Rate • Interest Rates Are Always Higher • Banks Are Not Willing to Negotiate Lender Fees and Closing Costs • Banks are Exempt from Disclosure Rules Provided by the RESPA Act. Banks do the same thing to make money selling the loans on the secondary market. Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. You can learn more about refinancing your mortgage without overpaying by registering for a free mortgage tutorial. The lobby spent millions of dollars romancing Congress to give banks an unfair advantage over their customers. If you are in the process of refinancing your home loan with your bank, you will overpay for your new loan no matter where you bank. Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. Aside from the fact that Banks don’t have to play by the rules your bank has a dirty little mortgage secret. Fortunately for you, there is a way to spot it. Banks fall into a special category of mortgage lenders and routinely charge Service Release Premium (SRP) for their loans. No one but the bank knows how much they are profiting by selling your loan; the more they overcharge you for the loan, the more the bank will profit. Another problem with banks is that your banker will be much less likely to negotiate for terms and interest rates because of the loophole. Fannie Mae publishes the weekly yield on their website with their press releases. Another problem with banks is that your banker will be much less likely to negotiate for terms and interest rates because of the loophole. Banks earn a premium on the secondary market by charging Service Release Premium, and here’s how it works. Because banks fund their loans with the bank’s money, many people mistakenly think taking out a mortgage from the bank or credit union is going to be cheaper than taking out a retail mortgage loan. Banks mark up wholesale interest rates to boost their profits when selling your loan. This means the bank can literally charge you whatever they like and no one is the wiser. In addition to having fewer choices, your bank is much less likely to negotiate over interest rates and fees. Bank originated mortgage loans have the same markup as retail mortgage loans with one distinction. You can learn more about refinancing your mortgage without paying too much by registering for a free mortgage toolkit. Your banker wants you to pay the highest mortgage rate possible so the bank makes the most money selling your loan on the secondary market. Thanks to the Banking Lobby this law was changed to exclude banks. Thanks to the Banking Lobby this law was changed to exclude banks.

Article Source: http://www.articlekingpro.com

Learn more about Home Loan Refinance | Portland Refinance | Bank Refinance

Please Rate this Article

 

Not yet Rated

Click the XML Icon Above to Receive Mortgages Articles Via RSS!
Additional Articles From - Home | Finance | Mortgages
Sign Up for a free Article King Pro account or learn more.
Submit Articles
Member Login
Top Authors
Most Popular Articles
Submission Guidelines
Ezine Notifications
Article RSS Feeds
About Us
Link to Us
Contact Us
Copyright & DMCA
Privacy Policy
Terms of Service


Most Recent Articles

Powered by Article Dashboard