Watch Out For Hidden Mortgage Fees
Nail Down In Writing How Many Points Are On Your Loan
Mortgages can be confusing. Here are some things people need to know before signing on the dotted line.A typical mortgage has documents more than an inch thick; a person will sign and initial his or her way to years of monthly payments. And there may be hidden fees included in your mortgage. For instance, mortgage companies cannot charge more than they pay for third-party services like appraisals, pet inspections, flood certifications, or credit reports. "So if it's costing them $25, the consumer should be charged $25 for that report," attorney Jack Kurant said.Even the best mortgage broker may slip in an unearned charge. Another thing to look for is points on your loan. "If the lender is charging one point, that will be $1,000," he said. "If a lender was charging two points on a $100,000 loan, that would be $2,000."So nail down in writing how many points are on your loan.Don't be surprised if a mortgage company charges an application fee. They all do; it covers the preparation of all that paperwork."You have to check to see if the application fee is fully refundable or if it's going to be non-refundable if you don't qualify," Kurant said. "Or if you choose to go elsewhere to borrow your money."The best way for people to protect themselves is to ask questions or shop around for a mortgage broker. And if you have a questionable credit rating, some bad mortgage brokers may be looking for you. "(Watch out if) at the last moment (there is) a switch and bait to a higher interest rate or additional closing cost," Kurant said. Distributed by Internet Broadcasting Systems, Inc. This material may not be published, broadcast, rewritten or redistributed.






Authorities release a chilling 911 call from a 19-year-old woman who hid in the back bedroom of a Central Florida home while four men attempted to break into the house.
An ex-wife of the man who found the remains of Caylee Anthony says that she thought her ex-husband was responsible for or involved in the girl's death.
Five people are dead after a mobile home fire broke out in Central Florida.
Officials question the credibility of a female deputy who called 911 in September to report a masked man had attacked her.
Dashcam video shows a Florida woman offering an officer sex instead of getting a ticket.
A 3-year-old boy was left stranded at a commuter train platform when a door on the train malfunctioned, separating the toddler from his dad. A good Samaritan stayed with the child until the father could return. (Nov. 20)
South Carolina police say an obese man died after not moving from his recliner for the past eight months. Police say the man's body was physically stuck to the chair and firefighters had to cut him out. He died a few hours later at the hospital.
A woman tired of hearing her son say he lost another sock has come up with an idea to prevent it from happening again.
A Nebraska man says romance turned to revenge when he was victimized by his girlfriend and then exposed on Facebook.
Thirty Victoria's Secret supermodels take over New York's Times Square this week.
Take a quick look at the flicks headed to your multiplex. Check out the trailer, too.
A man who passed a teller at a Central Florida credit union a note announcing a robbery turned around and walked away without any money, deputies say.














