Rants about home mortgage
Lenders with unethical business practices are more common than ever before because the credit crunch has produced a bumper crop of homeowners and would be homeowners who are desperate for any mortgage for which they can qualify. Refuse any mortgage whose fees total more than 1% of the amount of the loan, or which has a yield spread premium. Also avoid lenders who use high pressure business tactics and aggressive advertising, or who tell you that although the loan they have offered you has a high interest rate, you can offset it by "flipping" or refinancing the property. When you refinance mortgages through predatory lenders, your mortgage is guaranteed to be expensive, hard to escape, and a drain on your finances for years to come. Right now is an ideal time to refinance mortgage loans.