Mortgage Payments

April 15. 2009

Some mortgage company representatives are putting people in homes they cannot afford. Another questionable practice is not telling future homeowners their mortgage payments until closing when they sign the contracts.

Then there's the other last minute, annoying practice of informing potential homeowners a day or two before closing, that they will need hundreds or thousands of dollars in additional funds to seal the deal in obtaining the property.

Most people aren’t going to back out at that point and some end up getting saddled with a higher than expected mortgage, turning into a bad financial situation.