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A Simple Way to Save Thousands on Your Mortgage ChargesHow many times do you check you restaurant bill? If not often, I would advise you to do it more, especially when dining on your overseas vacations. Still, much more Americans check their restaurants bill, than the number of homebuyers, who check the charges for their mortgages. There are two popular misconceptions about the mortgage surcharges. First - the charges are all the same because of the competition. Second - there is nothing we can do about it, so why bother? They are both wrong. The charges vary, sometimes within the same company depending on who their customer is. And yes, you can reduce those charges substantially just by asking about them. There us an old story about a waiter, who presents unreasonably high bill at the end of a meal. His customer asks very politely to see the itemization of the charges. He goes over the items with the waiter one by one. Salad, yes, we had salad. Steak, yes, we had it. What is 'successful' for $95? I don't remember ordering it. Shrugging his shoulders the waiter crosses the item out from the bill: "Most of the time I am successful with that one, but sometimes I am not". You will be surprised how often this old joke is played on the unsuspecting customers at the mortgage closings. You can say: "But I always check the charges myself. There was nothing like that on my list". Yeah, you think they would be stupid enough to put the charges in the open where you can check them? No, the charges are buried in the computations of the interest and principal payments. Those computations formulas are among the most closely guarded secrets of the lenders. The lenders even have a special abbreviation for such charges, P.O.C., which stands for Paid Outside of Closing. Those charges can be for anything, from a finder's fee to your broker (or whoever referred you to them) to different sorts of mortgage insurance, which you are required to pay for, but it benefits the lender. They will fight you tooth and nail, if you ask them to disclose that. Their most common answer to you would be: "Oh, we don't know the details ourselves. Our computer does the computations. It is our company's private information." The only way for you to know exactly what the lenders are charging you is to compute the monthly payments independently. They are trying to make this task as difficult as possible for you. They use complicated allocations, where they often change the amounts that go to the interest and to the principal. Why? Because they don't want you to know. So you might be thinking that after a few years your monthly payments have reduced your mortgage principal, when in reality the principal changed little and all the money went to cover interest payments and a lot of other funny charges, about which you never have been told. How can you get this information? It can be yours for the asking. Of course you can start getting answers like: "It is not in our computer. We need to order an additional report for that. I don't have this information." You can continue to deal with this people, if you wish. Just know that they are lying. And if they are lying to you now, what will prevent them to do the same later, when you are at their mercy as their customer. To learn more about investment advise and retirement planning visit Money Management Forum at Wise-consumer.net, also Surveyor
 MORE RESOURCES updated Wed. July / 24 / 2019Refinance mortgage rates: 10 steps to get the best deal The Mortgage Reports How do you get the best refinance mortgage rates? Plan ahead and have a strategy. Here's how to do it in today's low-rate mortgage marketplace. Good time to refinance your mortgage? Fox Business The 30-year fixed mortgage rate recently reached its lowest levels since September 2017. Consider a Mortgage Refinance, Even If You Bought Recently NerdWallet Mortgage rates have fallen so much lately that millions of homeowners might benefit by refinancing — even if they bought a home in 2018. How to Refinance a Mortgage and When to Do It TheStreet.com Your mortgage can cost a lot of money over time. Here's how it might just cost a little less....BAC. Refinance mortgage rate moves up for Thursday Bankrate.com Refinance rates were mixed, but one key rate cruised higher. See what that means for your refinance. Will mortgage rates drop even more? Should I wait to refinance? The Mortgage Reports Mortgage rates are near historic lows, but maybe you've heard that nagging voice, the one which says “wait just a little longer. Rates can drop lower. Debt Consolidation with Mortgage Refinancing: How to Pay Off Debt with a Refinanced Mortgage Zing! Blog by Quicken Loans Considering a mortgage refinance to consolidate debt? Before you do, read our guide to make sure you understand how it works along with the pros and cons. Refinance rates advance for Monday Bankrate.com Several benchmark refinance rates cruised higher today. If you're shopping for a mortgage, see what that means for you. More than 8 million homeowners are leaving big money on the table by not refinancing CNBC Mortgage rates have been on a roller coaster for the last year, but now they're sitting at the bottom of the track, and that is giving a major boost to the number of ... Refinance rates trend higher for Wednesday Bankrate.com Several closely watched refinance rates cruised higher today. See what that means for your refinance chances. How the Fed’s interest rate decisions affect mortgage rates Bankrate.com If the Fed lowers rates at their upcoming July 30-31 meeting, only some mortgage borrowers need to pay attention, including those with adjustable-rate loans. Refinance mortgage rate retreats for Tuesday Bankrate.com Refinance rates were mixed, but one key rate ticked downward. If you're shopping for a mortgage, see how your payments might be affected. ARM, HELOC mortgage borrowers could get a break if Fed lowers rates Bankrate.com Some borrowers might see lower monthly payments come the end of July if Federal Reserve Chairman Jerome Powell lowers interest rates. The federal funds ... 6 Strategies To Make Your First Mortgage Refinance A Success CBN News Mortgage rates may be rising but there's still room to refinance your home loan. Use these six ways to get the best deal on your first mortgage refinance. Should you refinance your mortgage now? Clark.com - Clark Howard Money expert Clark Howard has a simple rule for when to refinance your mortgage. See if it applies to you and how you can hit a "grand slam" if you do it. Mortgage rates today, July 22, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates barely moved on Friday, as we predicted. However, the movement that did occur was different from what we expected. The average ... This is how ridiculously low mortgage rates are now. A historical perspective - The Mortgage Reports This is how ridiculously low mortgage rates are now. A historical perspective The Mortgage Reports Home refinance rates are low. This is a statement which is both true and does not adequately describe the current mortgage situation. Mortgage rates in the 3% ... How to get the best deal on your home mortgage refinance cleveland.com Mortgage rates may be rising but there's still room to refinance your home loan. You might have heard much said about the constant rise of interest rates over the ... Refinance mortgage rates mixed for Thursday Bankrate.com Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage. Mortgage rates today, July 18, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates fell by a worthwhile amount yesterday, as we predicted. The drop wasn't enough to offset recent rises. But it was a step in the right ... Refinance mortgage rate slides for Friday Bankrate.com Refinance rates were mixed, but one key rate slid lower. See what that means for your chances of scoring a killer refi rate. Weekly mortgage rates fall further, but only refinance applications rise CNBC Mortgage application volume was 40% higher than a year ago, largely because lower rates are strengthening the refinance market. U.S Mortgage Rates – Rates Rise for Just the 3rd Time in 13-Weeks Yahoo Finance Mortgage rates were on the rise once more, though they could come under pressure should tension in the Middle East rise further… Refinance rates trend higher for Tuesday Bankrate.com Multiple key refinance rates trended upward today. If you're in the market for a mortgage, see what that means for you. Refinance rates tick lower for Tuesday Bankrate.com Multiple closely watched refinance rates sunk lower today. Average rates nationwide for 30-year fixed and 15-year fixed refinances both declined. Meanwhile ... It's Your House, Only Cheaper — Why Homeowners Should Refinance Now to Save Big - PaperCity Magazine It's Your House, Only Cheaper — Why Homeowners Should Refinance Now to Save Big PaperCity Magazine Are you leaving money on the table when it comes to your home mortgage payments? If you are one of 5.9 million, homeowners who could lower interest rates ... Liz Weston: Shop for refinance rates with no credit score dip for multiple inquiries OregonLive Dear Liz: We're planning to refinance our mortgage and are concerned about generating multiple credit inquiries which would lower our excellent credit scores. Mortgage rates today, July 15, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates rose again on Friday, as we predicted. However, for the second day running, the increase was sharper than we expected. So those ... Fed interest rate cuts to usher in new era for home buyers The Mortgage Reports Home prices are high but there's hope for home buyers. Falling rates should make homeownership more affordable as the Fed seeks to cut rates in 2019. Mortgage rates dip for Monday Bankrate.com Several key mortgage rates receded today. If you're shopping for a home loan, see how your payments might be affected. Over 8 million homeowners are leaving big money on the table by not refinancing The Coloradoan Refinancing can lower monthly payments, but it can also provide easy money for homeowners with high levels of home equity. Mortgage rates today, July 19, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates barely moved yesterday, as we predicted. What small move there was, turned out to be friendly. And the small fall took rates very close ... Refinance rates ease for Wednesday Bankrate.com Several closely watched refinance rates dropped today. If you're shopping for a mortgage, see how your payments might be affected. Mortgage rates sink to a 31-month low after Federal Reserve expresses uncertainty about the economy The Washington Post Mortgage rates hit their lowest levels since November 2016 on the heels of the Federal Reserve meeting last week. According to the latest data released ... Your Mortgage: What's up with all this refi talk? 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More than 8 million borrowers can now benefit from refinancing their mortgage HousingWire Last week, Freddie Mac's fixed mortgage rate fell to its lowest level in three years, bumping the pool of refinance candidates up significantly. At the end of June, ... Mortgage rates tick up, but lower bond yields signal more declines The Washington Post After falling more than a half percentage point the past four months, mortgage rates rebounded this week. According to the latest data released Thursday by ... Mortgage rates today, July 12, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates rose yesterday, as we predicted. However, the increase was sharper than we expected. It wasn't huge (equal-third biggest movement ... U.S Mortgage Rates – Mortgage Rates Slide Again as the FED Turns Dovish Yahoo Finance Mortgage rates were back on the slide following the previous week's 1st rise in 7-weeks. In the week ending 27th June, 30-year fixed rates fell by 11 basis points ... Here’s what mortgage rates might do after the July 2019 Fed meeting The Mortgage Reports Will mortgage rates rise or fall after the Fed meeting in July. Most experts think the Fed will cut bank rates and that mortgage rates will also be reduced. But what ... Mid-year review: What’s happening in housing, and more important, what’s not Bankrate.com The first half of 2019 bore promising gifts to eager homebuyers, namely low mortgage rates and slowing home price growth. This comes, however, amid a ... Refinance mortgage rate moves up for Monday Bankrate.com Refinance rates were mixed, but one key rate cruised higher. See what that means for you if you're in the market for a mortgage. Mortgage rates today, July 16, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates held steady yesterday, as we predicted. That was a relief after four days of rises, the last two of which were fairly sharp. Of course, they ... Mortgage rates increase for Wednesday Bankrate.com Several benchmark mortgage rates cruised higher today. If you're in the market for a mortgage, see how your payments might be affected. Should I Refinance My Home? CapeGazette.com With the recent lower interest rates, many homeowners are wondering if they should refinance. To decide if refinancing is the best option for your family, start by ... Tech improvements help make mortgage refinancing faster | Homes & Garden The Union Leader A massive wave of homeowners now has an incentive to refinance their mortgages and they could find the process faster than it's been in recent memory thanks ... Mortgage rates go up for Monday Bankrate.com Multiple benchmark mortgage rates climbed today. If you're shopping for a mortgage, see how your payments might be affected. Benchmark mortgage rate moves lower for Wednesday Bankrate.com Mortgage rates diverged today, but one key rate fell. See what that means for you if you're in the market for a mortgage. Could we see 2% mortgage rates before this is all over? The Mortgage Reports Is it really possible that we'll see 2% mortgage rates in the next year or so? No doubt some folks laughed when we suggested earlier this year that mortgage ... Mortgage rates trend higher for Monday Bankrate.com Multiple closely watched mortgage rates notched higher today. See what that means for you if you're in the market for a mortgage. Mortgage rates move up for Tuesday Bankrate.com Multiple closely watched mortgage rates trended upward today. If you haven't locked yet, see how your future home loan payments could be affected. 4 Student Loan Refinancing Myths Debunked NerdWallet Student loan refinancing isn't a scam. To help you decide whether refinancing is a good option for you, we're addressing four common misconceptions. Guild Mortgage launches refi option for Airbnb hosts HousingWire Guild Mortgage has partnered with Airbnb to launch a refinance option for property owners who host guests through the Airbnb platform. The option allows ... Mortgage rates today, July 1, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates reversed direction during Friday and ended up lower — though only by the smallest measurable amount. So they remain adjacent to ... Commerce Bank to Use the Black Knight Servicing Digital Solution to Enhance the Consumer Experience Yahoo Finance Black Knight's Servicing Digital is an interactive, mobile solution that provides consumers with customized, timely information about their mortgage loan ... Real Estate Advice: When's a good time to refinance Wicked Local Q: What's a good rule of thumb about refinancing? With mortgage interest rates dropping again, I'm wondering if I should refinance.A: The refi rule of thumb is ... 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Blog by Quicken Loans Some data around home sales disappointed, but mortgage rates continue to fall. All that and more on the way in Market Update! Mortgage rates today, June 24, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates rose on Friday, as we predicted. But the increase was tiny. Leaving aside Thursday, that average is currently at its lowest since ... Refinancing Jumps in Government-Backed Mortgages, Bucking Market Bloomberg A surge in government-guaranteed mortgage refinancings is underway, bucking the decline in the broader market since early June. Mortgage rates today, June 26, 2019, plus lock recommendations | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Average mortgage rates moved lower yesterday, as we predicted. The fall was tiny but it was enough to match last Thursday's level, which was the lowest in 20 ... Dougherty provides refinance dollars for 165-unit multifamily property in Ohio REjournals.com The Nashville, Tennessee, office of Dougherty Mortgage recently closed a Fannie Mae loan for the refinancing of The Trails of Oak Creek, a 165-unit multifamily ... Housing remains positive as uncertainty holds down rates: Fannie Mae National Mortgage News Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other ... 'Now Is The Time To Refinance': Low Mortgage Rates Cause Surge In Refinancing Forbes Last week's massive dip in mortgage rates apparently pushed homeowners into action. According to new data from the Mortgage Bankers Association, ... Mortgage rates predicted to fall to “the lowest they’ve ever been” The Mortgage Reports Mortgage rates fell to 3.84% in mid-June according to Freddie Mac, but could they go lower? A lot lower? Even the lowest they've been in 50 years? Mortgage ... 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Mortgage rates today, June 25, 2019, plus lock recommendations The Mortgage Reports Average mortgage rates held steady yesterday. A modest fall had looked more likely first thing. Still, their being unchanged was a real win for borrowers. As rates drop, mortgage refinancing surges but home purchase loans remain tepid USA TODAY Homeowners scramble to refinance mortgages as rates hit the lowest level in 17 months. But mortgage applications for home purchase rose just 0.5%. Mortgage rates haven’t been this low since 2016 — here’s how to decide whether to refinance your home loan MarketWatch More people are pursuing refinances as mortgage rates have dropped. Mortgage rates are falling—here's how to tell if you could save money by refinancing CNBC As mortgage interest rates drop, homeowners could save hundreds per month by refinancing. However, it's not a smart financial decision for everyone. 5 Signs It's Time To Refinance Your Mortgage Forbes You've probably heard that refinancing your mortgage can save you money. While that's true in many cases, refinancing needs be done at the right time in order ... Nearly 6 million people can now cut their mortgage payments with refinancing Bankrate.com The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate -- two ... When Mortgage Refinancing Makes Sense Seeking Alpha There are many misconceptions about what happens with refinancing a mortgage and the effect on interest payments. The important factors are rate, time and ... These are the best (and worst) reasons to refinance your mortgage Bankrate.com Whether you've owned your home for a short time or you've had your mortgage a bit longer, a mortgage refinance involves careful consideration. After all, you'll ... Mortgage refinancing spree becomes a race against the clock Bankrate.com Some 2.43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data ... Dougherty Mortgage Closes Fannie Mae Loan for Hawks Landing Apartment Community in Kingsville, Texas MultifamilyBiz.com KINGSVILLE, TX - Dougherty Mortgage recently closed a Fannie Mae loan for the acquisition financing of Hawks Landing, a 102-unit market rate multifamily ... Refinance Your Mortgage Quickly: Prequalify in Just 3 Minutes Credible News Let us do the heavy lifting for you. Compare rates from multiple lenders with no impact to your credit score. Refinance your mortgage with peace of mind. If You Ever Want To Retire, Here's The Best Way To Refinance Your Mortgage Forbes The usual reasons to refinance are to reduce the monthly payment or to raise cash. The third option, which is under-appreciated, is to shorten the period of ... Mortgage refinance boom goes bust as rates shift higher CNBC A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand. Mortgage Rates Drop Again -- Homeowners Can Save Hundreds Per Month By Refinancing Forbes Mortgage rates are continuing their downward spiral. According to Freddie Mac, the average rate on a 30-year fixed-rate loan has dropped to just 3.82%—down ... 4 irresistible perks of a VA mortgage refinance Bankrate.com Interest rates are near historic lows, and one particular VA loan refinance option that is easy to qualify for can enable homeowners to save thousands on their ... Lend America exec to be sentenced in fraud case Newsday A Long Island man who pleaded guilty to felony charges in the collapse of a $1-billion-a-year mortgage lender is scheduled to be sentenced in federal court ... What to consider before determining whether to refinance your mortgage Washington Post REAL ESTATE MATTERS | For a home-run refinance, try to find a deal that helps you do these four things: lower your interest rate, shorten your loan term, lower ... More, Hirt, and Henn of Mission Capital Advisors arrange $15.2 million first mortgage refinance for The Box Factory New York Real Estate Journal Online Brooklyn, NY Mission Capital Advisors' debt and equity finance group has arranged $15.2 million of first-mortgage financing for The Box Factory, redeveloped ... Homeowners refuse to tap into massive equity. Is that a mistake? The Mortgage Reports Home equity is up and rates are down. But homeowners refuse to tap into equity for major financial goals like a college education or home improvements. Is that ... Refinance mortgage rate moves higher for Wednesday Bankrate.com Refinance rates were mixed, but one key rate were higher. See what that means for you if you're in the market for a mortgage. Refinance mortgage rate moves higher for Friday Bankrate.com Refinance rates were mixed, but one key rate were higher. If you haven't locked a refi yet, see how your future mortgage payments could be affected. Saudi Real Estate Refinance, Deutsche Gulf Finance Ink Deal on Low Profits Mortgages Asharq Al-awsat English The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Saudi Public Investment fund (PIF), signed Sunday a partnership agreement with ... Freddie Mac CHOICERenovation construction / renovation loan: 2019 guidelines The Mortgage Reports The CHOICERenovation (sometimes written “Choice Renovation”) mortgage from Freddie Mac gives borrowers a new option to buy and fix-up homes without ... Mortgage refinance checklist: what you need to refinance your home The Mortgage Reports This handy mortgage refinance checklist tells you what you need to do before refinancing. Get your paperwork in order and know your refinance goals to speed ... Cash-out mortgage refinancing: Here’s where homeowners are using it most Bankrate.com Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ...
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