Home Loan Refinance - Refinancing Rate - Rate Refinancing 395

Claim your free mortgage refinance information guide today at: Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. If you’re considering refinancing your mortgage with a bank, you need to read this article. Because your bank is exempt from the Real Estate Settlement Procedures Act they will never disclose or admit to this markup. Because traditional mortgage companies and brokers have access to wholesale mortgage interest rates and are more likely to negotiate over markup and fees, you should never take out a mortgage loan from your Bank. If it wins, it will have total ownership of the property and may do anything with it. If you are not familiar with RESPA, it is the Real Estate Settlement Procedures Act that protects borrowers in the United Sates by setting guidelines for disclosure. To get your FREE Mortgage Refinancing DVD, visit RefiAdvisor.com using the link below. Banks fund their loans with their own money before selling the mortgage on the secondary market. Banks make the majority of their profit by selling your home loan to the secondary mortgage market. You can learn more about your mortgage refinancing options, including costly pitfalls to avoid by registering for a free mortgage DVD. If you choose mortgage refinancing with your bank you are guaranteed to pay too much for that loan. This is the retail markup of your mortgage interest rate when you borrow from a wholesale lender. To get your FREE six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below. Because your bank is exempt from RESPA laws, the bank will never tell you how much your mortgage interest rate has been marked up. Banks exploit the loopholes in RESPA to make their loans seem more affordable with the fees and closing costs; however, they hit you with undisclosed SRP markup on your interest rate. For a free copy of "Mortgage Refinancing: What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com. Banks earn a premium on the secondary market by charging Service Release Premium, and here’s how it works. It may be true that mortgage brokers are known for overcharging for their services; however, banks are much worse due to loopholes in the legislation that protects homeowners from abusive mortgage lenders. As you can see the cons of bank funded mortgage loans clearly outweigh and advantages. A little known loophole in the Real Estate Settlement Procedures Act could cost you thousands of dollars in unnecessary mortgage interest. Banks fund their loans with their own money before selling the mortgage on the secondary market. The first thing you need to know about banks when considering a bank originated mortgage is that banks are exempt from the Real Estate Settlement Procedures Act (RESPA). Banks fall into a special category of mortgage lenders and routinely charge Service Release Premium (SRP) for their loans. You may need to know about deed of trust foreclosure, power of sale or judicial foreclosure. Real estate agents and agencies also gain profits from buying and selling properties foreclosed by banks. Would you ever consider taking out a mortgage from a lender that doesn’t have to play by the rules?. Banks fund their loans with their own money before selling the mortgage on the secondary market. The markup from 6.0% - 6.5% is Service Release Premium.

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