Mortgage Finance Calculator Reduce Home Mortgage Cost
Do you remember when banks did what they were originally supposed
to do: serving as depositories for their customers money, clearinghouses for checks and deposits, and a place to finance a home mortgage even refinance an existing mortgage loan?
Do you remember when you could deal with a banker who respected you
as a client and was interested in helping you with your banking
needs?
Neither do I.
Banks have abandoned their traditional roles as a passive service
industry and have become, amazingly, manufacturers. Never mind that
they manufacture nothing, but the income they generate from their
manufacturing activities have skyrocketed to $50 billion annually!
What do they produce that earns them so much money? Fees! They
manufacture "fees". Yes, $50 billion from "fees" that generate no
value to the economy, add no jobs, perform no service for anyone,
and do not increase value to society.
And they sell these fees to borrowers. If you have a loan with a
bank, or have credit cards (every has them), you've "bought" their fees (their manufactured product).
Fees are designed to do one thing - take money from you.
They are never advertised as a price for a service or interest
charged for borrowed money.
That's why you need to be on guard when dealing with banks -
especially as a borrower and particularly when financing a home mortgage.
Here's what you need to know - bank loans are designed to keep you
in debt as long as possible, and force you to buy their fees (their
manufactured product) whenever possible.
In 2005 Congress enacted the "Bankruptcy Abuse Prevention and
Consumer Protection Act". To say that this legislation provides
consumer protection is an oxymoron. It's actually a sell-out to the
banking industry.
Arianna Huffington described the measure as reading "like a credit
industry wish list [that] does nothing to prevent bankruptcy abuse
or protect consumers."
Here's what actually happened: the banks knew they were marketing
deceptively worded loans to consumers. They knew that, down the
road, millions of people would be unable to repay the loans, even mortgage loans. Most personal loans had morphed into high-interest (does the term "usurious" come tomind?) accounts padded by fees and add-on charges (late fees, over
limit fees, you name it).
Knowing that many consumers would need to file bankruptcy due to
deceptive lending, they lobbied congress to make it harder to
discharge consumer debts through bankruptcy. Now, that's what I
call foresight!
This is your "friendly" banking system at work. And this is why it
is so important for you to get rid of your mortgage and other debts
as soon as possible. When you shake the hand of a banker - count
your fingers!
A bank will give you an umbrella when the sun is shining, and take
it away when it starts to rain. If you're like most people, there
will be times when your finances go through stormy periods. That's
when you don't want to be beholden to the banks.
That's when you'll appreciate learning that there is a system that saves thousands of dollars on any mortgage loan and that the banks don't want people to know about it. This system eliminates debts quickly, and reduces exposure to the banks and their fees. Don't wait until it's too late! The good news is that the savings are huge, and they go right into your pocket, not the bank's.
This system has been used around the world for years so find out about it. It's called mortgage acceleration, and it can save hundreds of thousands of dollars on a home mortgage.
by: Marv Eisen
How To Stop Foreclosure And Save Your Home Data Entry Jobs - Earn At Home How To Choose The Right Tap For Your Home Hair Damages Caused Due To Daily Use Of Flat Iron Factors To Look Into When Doing Or Having Water Lines Installed Into Your Plumbing System How To Avoid An Emergency Plumbing Situation Finding Great Northridge Homes For Sale Crank That Plumbing Expertise Into Gear Led Garden Lights Will Create The Outdoor Ambience You Need Warming Your Home Using Stoves Email Reverse Lookup To Trace Owner Of Email Choosing A Reputable Deck Builder To As An Extension To Your Home Flat Iron Usage Tips For Hair Straightening