Mortgage Companies – Different Types Of Mortgage Lenders
Has the “Bubble” Burst?
If applying for a new home loan, there are numerous mortgage lending options. New homebuyers may not know where to start. Different mortgage lenders fit different circumstances. In fact, choosing the wrong lender may result in paying more interest. With this said, it is important for homebuyers to educate themselves on the different types of mortgage lenders, and select the lender that is perfect for them.
Traditional Mortgage Lenders: Banks, Credit Unions, etc.
Mortgages – Dont Get Pounded By Prepayment Penalties
After watching home values soar during the past few years it looks as if real estate reality is finally about to set in. The home-pricing forecast for 2006 is mild and modest with higher prices projected for the year but not the double-digit increases seen in 2005.
Mias Calls On Mortgage Lenders To Fix Their Exit Fees
Many people make a major mistake when applying for a mortgage. They are so relieved to get the loan that they fail to pay attention to prepayment penalties in the loan documents.
MIAS, the Mortgage and Insurance Advisory Services (http://www.mias-ltd.co.uk ), is concerned that, despite the recent publicity and various campaigns in the press, borrowers are still being stung by punitive exit fees.
Lenders charge exit fees when customers redeem their mortgage in full, for example, by switching their mortgage to a rival lender. Exit fees can also be termed administration charges, sealing fees or deeds-release fees and are raised to cover the cost of ta…