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 Distributed by Internet Broadcasting Systems, Inc. This material may not be published, broadcast, rewritten or redistributed.






Three men have been arrested by Daytona Beach police after a 16-year-old died from stab wounds.
Jason Rodriguez is formally charged with first-degree murder and ordered to be held on no bond on charges he shot five people, killing one in a downtown office building on Friday.
| Arrest | Suspect
Images and hundreds of pages of documents related to the Casey Anthony case are released by the state attorney's office.
The glow from a health care triumph faded quickly for President Barack Obama on Sunday as Democrats realized the bill they fought so hard to pass in the House has nowhere to go in the Senate.
Local 6 News, led by investigative reporter Mike Holfeld, will host an interactive experience on Monday at 6:30 p.m. with viewers, including a phone bank and online chat with homeowners association experts.
Sunday, Nov. 8, 2009.
Police release the name of the victim killed in a shooting at an Orlando high-rise and file first-degree murder charges against the suspected shooter.
Local 6 News, led by investigative reporter Mike Holfeld, will host an interactive experience on Monday, including a phone bank and online chat with homeowners association experts.
A South Carolina man caught on video having sex with a horse has been sentenced to three years in prison for abusing the animal.
Hundreds of photos in the Casey Anthony case are released.
Top-dollar designs don't always provide a good return for the rich and famous. Check out which celebs were caught in fashion flops.
Photos uploaded on Oct. 9, 2009.














