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Florida Home Loan Refinance Mortgage Brokers
The stories about misconduct on the part of mortgage brokers can be scary. In theory, your mortgage broker is supposed to be on your side, act in an ethical manner, and do his or her level best to get you an ideal rate on your mortgage refinance loan. Unfortunately, this is not always the case, and some examples of broker misconduct can help you avoid the same mistakes.
If you are called out of the blue by a mortgage broker, do not do business with that person--it is to your advantage to control the contact. A woman in Florida was recently contacted by the loan broker/agent who represented the seller of the house she bought. He tried to push her into refinancing, and when she stated that all she wanted was information, he went ahead without her approval and did a credit inquiry, thereby lowering her credit score.
Another unfortunate homeowner who wanted to take care of some credit card debt responded to a radio ad for refinancing and was promptly cheated. He was saddled with a $15,000 loan at 19.99 per cent with closing costs of nearly $2,000. As a result of the inadequate information provided to him during the negotiation and closing phases, he ended up paying more interest on his refinance loan than he had been paying on his credit card debt.
To avoid the dangers of unethical brokers, the best method is to start the refinance process with ApplyOnTheWeb.com. We represent Florida home loan refinance mortgage brokers you can trust. All of the lenders that we work with have been carefully screened. Furthermore, when you fill out an application, all of the lenders we work with essentially compete for your business, ensuring that you obtain a great deal.
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