Articles About Finance And Refinancing

Before You Get Suckered Into A Bad Mortgage or Refinance, Call America's Watchdog, The Free Mortgage Intervention For Homeowners With Good Credit

(PRWEB) May 29, 2007 -- America's Watchdog & its National Mortgage Complaint Center are warning all US homeowners to avoid the latest scams in the mortgage lending industry when it comes to financing or refinancing your home by calling them first, for a free consultation at 866-714-6466.

According to America's Watchdogs President, Thomas Martin, "I have never seen the mortgage lending industry as bad as it is today." Martin says: "Contrary to all the buzz from Wall Street; the mortgage industry and related industries are in very deep trouble, and many mortgage lenders are doing anything to survive, up to and including lie, cheat, bait and switch, etc."

He says: "Wall Street & Congress are trying to spin the nation's mortgage/housing woes into something thats getting fixed; nothing could be further from the truth. Mortgage Bankers are blaming the worsening crisis on mortgage brokers and mortgage brokers are blaming the worsening crisis on mortgage bankers. The reality is the typical mortgage is loaded with junk mortgage fees and or hidden fees. The average consumer has no chance to even see what is happening before its too late."

Said Martin: "Saddest of all, it's not just families, Hispanics, African Americans, Women, Gays, the elderly who are the most commonly targets of mortgage brokers or mortgage bankers trying to get the last nickel out of a unsuspecting homeowner or borrower. In many to most cases it also happens to white males, or couples with perfect credit. As a result of the mortgage industry's lack of honesty, America's Watchdog is offering a free telephone consultation designed to get a homeowner to a honest lender in their state before they even start the financing or refinancing process. America's Watchdog strongly suggests all consumers; especially those with good credit avoid the following tricks from desperate mortgage lenders."

America's Watchdog suggestions for consumers:

1. If you hear or see a radio, TV or newspaper ad that says "no points", or even with bad credit you can get a 1% mortgage. Its a lie. There are costs with all mortgages. Consumers should not confuse "no point" with "no fees". If it says no points, the translation is a higher monthly payment.

2. Do not under any circumstance get involved with a 1% start rate or "Pay Option Adjustable Rate Mortgage".

3. Stay away from Internet "pop ups" that say "rates at historic lows or let us find you a lender in your state." These ad gimmicks are the creation of "lead generation firms." Mortgage lead generation firms get paid between $500 to $1200 for leading you to the actual mortgage lender. The lender then just passes the cost off to you." Let mortgage firms fight and compete for you," another gimmick lead generation trick that will cost you.

Special Note: Attorneys Wanted
In order to assist the millions of US consumers who were gouged by a US mortgage lender; America's Watchdog would like to hear from attorneys and law firms that can assist individual homeowners who were taken advantage of in the mortgage process. With this information America's Watchdog will build a web site for consumers seeking legal assistance in their specific state. Tens of millions of US homeowners have been swindled out of tens of billions of dollars. Every Personal Injury, Plaintiffs, Consumer, Foreclosure or Bankruptcy Law Firm in the US should consider adding practice areas related to predatory mortgage lending.

According to America's Watchdog's President, "the mortgage disaster story has been under-reported by the news media. It is not just limited to sub-prime or borrowers with poor credit. America's Watchdog is talking about individuals with great credit who have been cheated or are about to get cheated."

Martin added, "this mess is going to get much, much worse. Within a year or two, many homeowners who recently financed or refinanced will be paying a higher monthly mortgage payment, they will be in financial trouble or worse, because a very greedy mortgage lender took advantage of them, and or sold them a bill of goods. If you are a individual or a homeowner about to finance or refinance your home please call America's Watchdog's National Mortgage Complaint Center for a free consultation related to what mortgage firm to use in your state and what mortgage product will suit you best."

You can contact the National Mortgage Complaint Center at 866-714-6466 or visit their web site at Http://NationalMortgageComplaintCenter.com . This program has specifically been designed for individuals with good credit.

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