Loan officers and mortgage companies don’t “waive” closing costs they “offset” them with yield spread premium. If you need a refresher on the biggest lie of all: Yield Spread Premium, click here.
traps, tricks, Mortgage Lies, No Cost Mortgages, scams, Scams, Tricks, Traps, Yield Spread Premium
Original post by rkblake
What is refinancing really? After 15 years in this industry it still baffles me how many misperceptions folks have when it comes to refinancing their mortgage.
Refinancing is replacing the financing on a home you already own. Unfortunately, American home owners are really confused or misinformed about refinancing. When you refinance, you go through the whole qualifying process again. The same comprehensive “financial colonic” you went through when you bought the house. You may have quit your job and became self-employed, or got separated or divorced, or lost value in your home, or hammered your credit scores with too much debt, are all examples of changes which require the industry put a microscope on you again to refinance your home mortgage. (more…)
Mortgage Refinancing, mortgage shopping, Mortgage Tips, No Cost Mortgages, Refinancing Tips
Original post by rkblake