we estimate that 85%+ of all existing U.S. homeowners were cheated, over-charged or gouged when they mortgaged or refinanced their home. The key problems are poorly disclosed yield spread premiums (a kick back for increasing the borrowers interest rate), mortgage bait & switch, prepayment penalty's, junk mortgage fees, etc
Washington, DC (PRWEB) September 25, 2006
Americas Watchdog, is the premier advocacy group focused on consumer mortgage protection in the U.S.. Americas Watchdog and its partner the National Mortgage Complaint Center have announced the expansion of its consumer mortgage protection services, for individuals about to finance/refinance a home, or for borrowers who feel like they may have been cheated/over charged. It is also hoped that real estate agents, HR managers, Organized Labor Unions officials, homeowners groups and others will let their employees or members know about this very unique mortgage service.
The National Mortgage Complaint Center's service has expanded because of a national epidemic of mortgage lenders, banks, homebuilders, mortgage brokers and Internet mortgage lenders over-charging unsuspecting consumers/homeowners on mortgage fees, interest rates, various mortgage products or mortgage servicing. The goal of these services is to save the consumer money and or to assist homeowners recover money if they were cheated or over charged.
According to the President of Americas Watchdog; "we estimate that 85%+ of all existing U.S. homeowners were cheated, over-charged or gouged when they mortgaged or refinanced their home. The key problems are poorly disclosed yield spread premiums (a kick back for increasing the borrowers interest rate), mortgage bait & switch, prepayment penalty's, junk mortgage fees, etc" The group also estimates that 35%+ of all current U.S. Homeowners are having problems with a bank or loan servicing company.
The National Mortgage Complaint Center & or The Homeowners Consumer Center have been featured on CNN, Money Magazine, Newsweek, The Wall Street Journal, Good Housekeeping Magazine, CNN/Money and numerous other media sources:
The new expanded services are expected to be very useful to individuals about to finance/refinance a home, or existing homeowners who have problems with their lender, or are concerned about being cheated by a mortgage lender or broker. These services should also be useful for real estate agents/real estate brokers trying to protect their clients or former clients, and HR managers trying to make certain their employees get the best possible deal on a mortgage. Organized Labor Officials are also encouraged to let their membership know about this service in order to make sure their members are not being cheated/over charged or gouged by a mortgage broker mortgage banker, Internet mortgage lender. Members of HADD (Homeowners Against Deficient Dwellings) & CAI (The Community Association Institute) are expressly requested to let your boards or members know about this service because homebuilders frequently gouge new homeowners with over-priced or excessive mortgage products.
Americas Watchdog's expanded services include:
1. Mortgage document inspection:
For individuals about to finance or refinance their home, The Mortgage Inspection Service ( Http://MortgageInspectionService.Com ) will thoroughly examine the borrower's Good Faith Estimate & Truth in Lending Statement paying particular attention to:
*The mortgage product they are being offered
*The interest rate they are being offered
*The fees they are being charged.
*Prepayment Penalty's/or other issues
The Mortgage Inspection Service will then write a narrative report detailing their findings along with their recommendations related to excessive mortgage fees, interest rates that might be too high, and or any other potential problem related to the proposed mortgage. Typically the consumer shares this report with the lender and gets a better mortgage product, lower fees or both. For a no obligation consultation call 866-714-6466
What does this service cost? They charge $45.00 for this service
2. A Mortgage Document Inspection Of Existing Loans.
Were You Cheated or Gouged In The Mortgage Process?
If homeowners suspect they were cheated, or taken advantage of by their mortgage broker/lender (national homebuilder); The National Mortgage Complaint Center ( Http://NationalMortgageComplaintCenter.Com ) will thoroughly examine the consumers loan documents, take down the consumers account of what happened, and if they discover what might be wrong doing, they will directly contact the lender, the appropriate State Attorney General or other possible governmental agencies that might be able to assist. For a free consultation call 866-714-6466 anytime.
What does this service cost? This service costs $150
3. An Intervention Over Mortgage Servicing Issues/Monthly Mortgage Payments.
If a consumer's mortgage lender/ bank has not properly applied their mortgage payment's or their reserve payment's to their mortgage account, The National Mortgage Complaint Center ( http://NationalMortgageComplaintCenter.Com ) will attempt an intervention with the lender in order to try to correct the situation. This happens, or has happened to millions of U.S. homeowners. If homeowners are having mortgage loan servicing problems or problems related to their mortgage payments with their lender, the homeowner can call the National Mortgage Complaint Center for a free no obligation consultation. This service does not apply to individuals who have not made their mortgage payments or are in foreclosure. For a free consultation call 866-714-6466.
What does this service cost? they charge $250.00 for this service for qualified clients
There is no other consumer mortgage service like this in the nation and Americas Watchdog ( Http://AmericasWatchdog.Com ) encourages all current or potential homeowners, ethical real estate agents or brokers, HR Managers, Organized Labor Officials, attorneys, financial planners, CPA's, consumer groups, neighborhood or organization web sites to offer their clients a link to our web sites or to list our sites on their web site.This effort is 100% focused on consumer mortgage protection and advocacy.
"Of the current 70 million+ homeowners in our country over 60 million were cheated, over charged or have an on going problem with their mortgage lender", according to Americas Watchdog founder Martin. "This is an attempt to make things right for consumers & homeowners, and to make sure they are protected. These problems affect everyone, black, white, brown, rich, poor, young, old, educated, purchasers of new homes, etc. Its the best phone call a consumer will make with respect to buying a house or being an informed homeowner".