Articles About Finance And Refinancing

Recently Launched Home Mortgage Education Site Helps Consumers Avoid Unscrupulous Home Loans

Houston, TX (PRWEB) May 8, 2008 -- Mortgage Consumer Advocates, Inc. (MCA) is proud to announce the launch of its home mortgage (http://mortgagechampions.org/) consumer education website at www.mortgagechampions.org. The Texas non-profit corporation is helping to level the playing field against mortgage lenders by empowering consumers with knowledge. MCA also wants to stop mortgage fraud by unscrupulous lenders and brokers. MortgageChampions.org is an easy-to-use source of information for consumers, designed to educate and protect consumers on the mortgage industry and processes involved in financing home loans (http://mortgagechampions.org/mortgage-basics/). This marks the first time a completely independent, non-profit organization, has focused exclusively on the concerns and issues of consumers regarding mortgage lending and consumer protection.

"At last, an independent organization is here to help consumers stand up to the far too often unfair advantage of mortgage lenders," says Howard Wayland of Mortgage Consumer Advocates. "All MCA representatives are former mortgage professionals who know the inside of the business. MCA does not originate, broker, or lend money. Our only interest is in helping consumers become knowledgeable about facts and pitfalls in the largest investment many consumers will ever make and to assist consumers in receiving fair and low priced home loans."

The MortgageChampions.org web site will help borrowers learn and evaluate the many major loan products available to them. Providing a list of pros and cons of each home mortgage product and give basic qualifying guidelines for each product. MCA provides a pre-application guide and home buying checklist that, if used, will give borrowers the opportunity and knowledge to obtain a lower interest rate, a better loan product, and have a smoother more enjoyable home buying experience.

Along with the vast amounts of free home mortgage information offered on MortgageChampions.org, MCA offers a single fee-based consumer protection service, the MCA Consumer Protection Plan (http://mortgagechampions.org/mca-protection-plan/). With this service, consumers supply MCA with their initial loan disclosure documents, which a qualified MCA representative reviews to check for any signs of possible mortgage fraud or gross overcharging, then prior to the loan's closing the MCA representative will review the closing settlement statement, and will make certain the same loan product, rate and fees requested were given.

MCA wants to give consumers information to educate, and better inform them about the mortgage loan process, products, and procedures so they may make better and more informed decisions on loans that meet their particular situation. MCA wants to help eradicate the mortgage industry of bad players, which hurt everyone both inside and outside the industry. MCA offers pointers on how lenders sometimes increase their profit at the consumer's expense. Also listed, are resources to file a complaint to state and federal regulators if consumers have been mistreated by a mortgage company.

About Mortgage Consumer Advocates, Inc. (MCA)

MCA is a Texas non-profit corporation whose mission is to educate and inform consumers on home loans and home mortgage procedures. It also gives educators and academics tools and resources to inform, teach, and research information on the mortgage industry, and to give the media a source of readily accessible information and experts for news stories and features about the mortgage industry. MCA also advocates on behalf of consumers for fair, viable, and against needlessly cumbersome regulations to provide them with more opportunities to receive a fair and balanced mortgage loan. For more information, please visit http://mortgagechampions.org.

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