The National Mortgage Complaint Center Offers Smart Tips for Anyone in the United States Wanting to Refinance of Finance a Home & Suggests Honest Lenders

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Out of concern that many would be home buyers, and or homeowners wishing to refinance might get overcharged, or gouged with unnecessary mortgage fees, or get stuck with inflated interest rates, the National Mortgage Complaint Center is offering tips for anyone looking at getting a fair deal on a mortgage. The National Mortgage Complaint Center says, "For starters anyone expecting to get the absolute best mortgage interest rates, needs to have good, to great credit. If your credit score is under 740, you will not get the absolute best mortgage interest rates. We are also urging both potential home buyers, or homeowners wishing to finance or refinance to steer clear of Internet ads, or mortgage companies advertising on the radio mortgage with interest rates that sound too good to be true-such as a 2% mortgage. While these products might exist, they are adjustable rate mortgages, which also means the 2% interest rate will not last for long. We are also warning all homeowners, or potential homeowners to be on the lookout for excessive fees, for their mortgage transaction. Typical junk mortgage fees we see include Administration Fee, excessive Underwriting Fees, Document Preparation Fees, and inflated Credit Report Fees." http://NationalMortgageComplaintCenter.Com

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The National Mortgage Complaint Center says, "After the Dodd Frank Consumer Protection Act, one would think everything would be better for US homeowners. In our opinion the Dodd Frank legislation with respect to the mortgage industry did nothing

The National Mortgage Complaint Center says, "After the Dodd Frank Consumer Protection Act, one would think everything would be better for US homeowners. In our opinion the Dodd Frank legislation with respect to the mortgage industry did nothing. As an example the new Good Faith Estimate designed by the US Department of Housing and Urban Development looks like something that the IRS came up with. The new Good Faith Estimate is too complicated, it leaves too much information out, and the old one page Good Faith Estimate was much easier to read, and to understand." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center says, "At this moment we have some of the lowest interest rates ever. However, we want to make sure every homeowner, or home buyer understands what they are getting. First we want to cover the no point mortgage, versus the regular fees included mortgage transaction. The no point mortgage is only a good option, if you do not have the money, or equity in your home to actually do the transaction. With the no point, or zero closing cost mortgage you will pay a higher interest rate, and monthly payment. When it comes to deciding if you want a traditional mortgage where you pay the costs, versus a no closing cost mortgage, simply ask the mortgage lender, or the bank, what are the best rates for a traditional mortgage-where you pay the costs up front, versus a non traditional mortgage where the lender pays all allowable closing costs. We want anyone looking at buying, or refinancing a home to know this information, and we want everyone to at least look at both options." http://NationalMortgageComplaintCenter.Com

The National Mortgage Complaint Center suggests the following fees are junk mortgage fees:

  • Administrative Fee
  • Excessive Underwriting Fee
  • Document Preparation Fee on the mortgage, or in association with title insurance
  • Credit Report Fees that are over $30 are excessive

Who does the National Mortgage Complaint Center recommend as the best lenders in the United States?

American Interbanc (California, Washington, Oregon, Idaho, Massachusetts, New Jersey, Pennsylvania, Utah only) The National Mortgage Complaint Center & its parent group Americas Watchdog has endorsed American Interbanc for five years in a row, as the best mortgage lender in the United States. http://AmericanInterbanc.Com

Bank of America-According to the National Mortgage Complaint Center, "Believe it or not we actually like Bank of America's mortgage products, and of all major US banks, Bank of America would be the only lender to receive our endorsement. However, there is a catch. We like Bank of Americas mortgage products offered at a branch, where the consumer, or homeowner can actually see the loan officer, or branch manager, and it is a branch in your area." http://BankofAmerica.Com

For FHA, or VA Mortgages the National Mortgage Complaint Center continues to endorse, and recommend the James B Nutter Company. The James B Nutter company is a national mortgage lender based in Kansas City, Missouri, they are family owned, and they are the gold standard for honest FHA, or VA mortgage lenders. http://JamesBNutter.Com

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