One of the benefits of the internet is that it is now easier than ever to get access to information. One of the downfalls of the internet is that this easy access to information often comes at a price. That is we may get a quick answer to our question, but we may not always get a correct answer.
There are numerous websites that I have come across where homeowners or potential homeowners attempt to get answers to their mortgage or real estate related questions. Some are actual Real Estate related sites like ActiveRain or Trulia. Others are networking sites like LinkedIn. Still others are general Q&A sites like Yahoo Answers. On these sites, the quality of answers vary, and answers are often given by someone with little or no experience, someone who wants to earn points, or someone who just wants to promote their own business. Don’t get me wrong, it is possible to get an accurate answer, the problem is that is is difficult to sift through the responses and determine which is correct and what is not.
As a new feature to Mortgage411Center, I am going to post some of the more common mortgage related questions that I’ve found, along with my responses. Now, I’ve noticed that mortgage questions tend to fall into one of two categories. First there are questions from people who are already in the process of getting a mortgage, but for some reason are having trouble getting their questions asnswers from the current loan officer. My responses to these types of questions are always the same. If you don’t feel comfortable asking your loan officer a question, or you cannot get him on the phone, or he is not answering your emails, you probably should not be doing business with this person.
The second type of question comes from people who are looking to buy a home or refinance a mortgage and are looking for information before they start the process. While some of these questions can be answered online, when we start to get into specifics, it is time to find a loan officer to help you along with the process, preferrably one who does take your calls and respond to your emails (see above).
Have a mortgage related question. Email us at info@mortgage411center.com.
Coming up next: Can I Refinance my Mortgage and Get a Rate Under 5% Without Paying Points or Other Charges?
