http://www.home-loans-explained.com/mortgage/mortgage-company.html How do you know your mortgage company is entirely on the up and up? We'll show you how, as well as the means to making your mortgage company fess up to their delinquent actions. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 The signs So you've got your mortgage - a 5/1 ARM with an introductory rate of 4.5% - and you're feeling pretty good about your prospects. Rates are low, your taxes aren't that much - you can honestly handle your home mortgage. Then your next bill comes, and instead of the usual $800 you've got a bill for $1100. What's up, Jack? You call your mortgage company and scream into the telephone, and they laugh and refer you to section 8 of your contract, clause 17 - "there is no cap to your monthly rate increase." Holy God - you sprint out to find the Wall Street Journal and you see rates have spiked to 8%. Egad! You phone your lender once again - raging something about refinancing your mortgage loan - and yet again they scoff, diddle with their ruby cufflinks and refer you to section 26 - "Refinancing prohibited." Sound familiar? Finding fault in your mortgage loans from the get go? Are you quoted variable rates even in negotiations? These are all signs of a mortgage company with less than beneficial practices, and these are the loans nightmares were made of. How mortgage companies can get away with it Bt with all the policies and Federal laws governing home loans, how can a mortgage company still fool their clients? Simple, there is nothing more potent and beneficial in a lender's profit arsenal than consumer ignorance. As an intelligent consumer you must be aware of your entire loan agreement - what you owe, what future options you may or may not have - and the only way to assure yourself of an honest loan is to read everything and understand what you read. If there is something involved that you don't understand, approach your mortgage company and ask them about the specifics. if they cannot answer in understandable terms, bring your questions to a competitive lending institution. They'd love nothing more than to tell you the truth and reveal a masked disadvantage in your home mortgage to take away from their competitors profits, and the information you gain will save you from a potentially disastrous financial investment. But even then people sign the dotted line, binding themselves to a loan they have yet to fully comprehend - and exposing themselves to the risks of dishonest lenders that plague the mortgage industry. Protecting yourself from the loan boogeymen The best defense you have against your mortgage company is information. Having a full understanding of mortgages is critical to your financial security, and your education is the solitary goal of Home Loans Explained. After knowledge, there is the Federal Truth and Lending Law that requires your mortgage company to completely disclose every detail and nuance associated with your mortgage within three days of your signing. If you find something within the complete disclosure you do not agree with, you can still cancel out of your loan. Have a mortgage professional analyze your loan contracts to assure yourself of your best interests. A last word of bad credit mortgage companies The rates of foreclosure are much, much higher for a bad credit mortgage than traditional loans. This is unfortunate, but in most circumstances the fault lies with the home owner - it was either their lack of understanding or a simple inability to maintain their monthly payments. Either way, the bad credit mortgage company funding those foreclosed homes probably acted within the law, yet their lending tricks and their customers' ignorance led to an ultimate foreclosure. We cannot stress the importance of complete understanding of your home mortgage - know what you are signing, be prepared for the worst, and your home will be the financial investment of a lifetime. If not, your mortgage will be a costly fiend taking you straight to financial purgatory. There is no such thing as a bad mortgage lender - only home home buyers foolish enough to take their loans. Your options are limitless and the Internet guarantees you access to honest and respected home mortgage lenders. Sat, 26 Jul 2008 15:00:00 EDT http://www.home-loans-explained.com/mortgage/bad-credit-mortgage-company.html Looking for a bad credit mortgage company is enough to send seasoned mortgage professional into abysmal depressions. But if you look deep enough, a bad credit mortgage company will come up that is both affordable and beneficial for your demands. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0