Has anybody gone thru a home loan from sandbank of america the one give the name " no duty mortgage plus"?
it seems too good to be true it say you dont play closing costs and alot of good things and I want to know if somebody out there know more about it to see if there is any fence in.
Answers:
Yes, there is a catch - lenders can volunteer a "no closing cost mortgage" by offering you a higher interest rate. The closing costs you normally would hold paid out of pocket are factored into the interest - that is, a high interest.
Related Questions:
How do one-time sub prime mortgages and increases of the supply of homes fade the price of apartment rents?
I was reading an article in the business screened-off area of the L.A. Times today discussing the result of sub primes mortgages after the housing boom. It mentioned that resulting home foreclosures would "slow the...
Answers:
Yes, there is a catch - lenders can volunteer a "no closing cost mortgage" by offering you a higher interest rate. The closing costs you normally would hold paid out of pocket are factored into the interest - that is, a high interest.
Related Questions:
How do one-time sub prime mortgages and increases of the supply of homes fade the price of apartment rents?
I was reading an article in the business screened-off area of the L.A. Times today discussing the result of sub primes mortgages after the housing boom. It mentioned that resulting home foreclosures would "slow the...