Home Loan Center Informative - Refinance Fees - Home Mortgages
With the increasing home foreclosures and declining interest rates, a great number of consumers are looking to refinance their mortgages. So many companies in the refinancing business are calling and offering attractive rates to entice consumers, with the catch of paying upfront fees to process the loan and home appraisal. In many cases if you would check these firms (via Google or otherwise), you'd find that they are scamming the public. Good luck in getting back your deposit which they promised would be returned to you if you do not qualify for the loan. In almost all cases, they won't qualify you since their appraisal would be lower than your current mortgage or the market value of your home that you initially gave them. And here is where they'll give you the run-around to get back your deposit if you're lucky to get someone to talk to you.
Why can't a Government Agency come in and help consumers and put a stop to all these scams that are hurting the very consumers who need the most assistance?