We
have put together some tips to help you become
more aware, make better decisions and avoid
extra expenses you shouldn't have to pay.
Avoid
 dealing
with people who call unsolicited at home.
having
your only contact be over the internet; where
you cannot walk
into an office an deal face-to-face when problems
arise.
being
bedazzled by flashy ads and promises that
common sense says can't be met.
(Here
is an example of what you don't want
to happen)
A customer secured a loan over the Internet
and locked in their rate, with no points
or so they thought. The $140,000 loan
required a $1400 "origination fee".
And the locked in rate was a quarter
higher than the lowest rate at the time.
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You
need to fully understand what you are paying
for, check all your costs and fees
in order to avoid prepayment penalities, negative
amortization, hidden costs, and 'junk fees'
(notary fees, loan processing fees, courier
fees, copy and fax fees...etc.)
Know
your terms, Know your lender.
Without the face-to-face connection, if you
ever have a problem (such as escrow taxes
being incorrect), who would you deal with?
How long would it take an 800 number to get
the problem resolved?
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