Just a couple of years ago, Mark and Linda bought their dream home with the help of a mortgage. After a year, their lender reached out with an attractive offer to refinance their mortgage for a lower interest rate. However, after refinancing, they found their mortgage balance growing...
Deceptive Mortgage Practices
6 Ways Your Lender May Be Deceptively Increasing Your Mortgage
Are you aware of deceptive mortgage practices that can significantly hike your costs over time? Here are six ways your lender may be playing the system and what you can do about it: Yield Spread Premium (YSP) Abuse Force-Placed Insurance Unnecessary Escrow Cushions Hidden Fees and Penalties...
Navigating the Maze of Force-Placed Insurance: Understanding the Implications and Protecting Your Rights
Karen had always been prompt with her mortgage payments. One day, she was shocked to discover a significant increase in her monthly mortgage bill. Upon inquiring, she found that her lender had added a new insurance policy - one she didn't recall purchasing. Karen was caught in the web of a...