No Fee Mortgages Coming SoonWritten by Charles Essmeier
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real estate market has prompted increased competition among lenders. Dropping itemized fees from first mortgages is latest attempt by several large banks to try to stay ahead of competition. The fees, some of which are nothing more than added-in profit, will still exist. It just isn’t possible to obtain a mortgage without a credit check or an appraisal of property. What “no fee” mortgages offer is an interest rate that is slightly higher than standard mortgage. The fees are simply rolled into total price, and borrower has a much simpler set of paperwork at closing. Lenders think that by streamlining process, overall costs can be lowered, and savings can be passed on to customer.
Those interested in purchasing a home with a “no fee” mortgage should ask around, as several large national banks are offering them now. Be aware that name is a bit of a misnomer; “hidden fee” would probably be more accurate. Still, process is simpler with a “no fee” mortgage, and there is definitely less “sticker shock” at closing time.
©Copyright 2005 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including End-Your-Debt.com, a Website devoted to debt consolidation information and HomeEquityHelp.net, a site devoted to information on home equity loans.
| | Does the Moon Have Covers?Written by Kemberly Wardlaw
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According to 2001 book entitled Are You Normal About Money? by Bernice Kanner, seventy-two percent of mutual fund investors never read accompanying prospectus. I admit literature can be boring, however it can be extremely insightful as well. Look at portfolio holdings and determine primary sector allocations. You will also develop a good idea of fund's turn-over ratio by reading prospectus. You should be aware of driving forces behind all your funds' returns. Are your funds allocated in strong positions and equally strong sectors? Or, is money manager hanging onto dreams and ideas of yesterday, hoping that six-dollar stock will return to eighty by year-end? It is a good idea to evaluate your portfolio periodically and ask yourself "Why do I own these positions?" Time passes and your goals either change or come to fruition. Seasons change and you should adapt accordingly, why not institute diligent tactics for your savings? The thought you put into such procedures may help protect your net worth.
Wardlaw's belief is that familiar life elements best illustrate practical investment strategies; not typical investment jargon. With that philosophy, the author assists financial planners/advisors, brokerage firms, periodicals, and other investment information syndicates create informative and entertaining articles. For comments and questions, please contact the author at tools2invest@yahoo.com or visit www.tools2invest.com
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