The deficit is going down

[merrylander]

What gets me is here we have this mortgage system that was designed by thieves for thievs, yet nobody seems to want to change it.

How many of you ever re-negotiated to get a better interest rate/ Each time you do you must buy more Title Insurance at $400 a pop. Are you aware that the commission rate is 80%, so the title company takes $320 right off the top.

[wgrr]

Originally Posted by merrylander

What gets me is here we have this mortgage system that was designed by thieves for thievs, yet nobody seems to want to change it.

How many of you ever re-negotiated to get a better interest rate/ Each time you do you must buy more Title Insurance at $400 a pop. Are you aware that the commission rate is 80%, so the title company takes $320 right off the top.

I am refinancing right now, It helps a lot when your wife represent abstract and title companies.

Another thing I am sure most folks are not aware of is that Wal-Mart through Arvest is buying up title and abstract companies all over this country. The other thing is banks are keeping everything in house. This would have been illegal in 1998. I don't even know why we bother calling them banks anymore.

[merrylander]

Originally Posted by wgrr

I am refinancing right now, It helps a lot when your wife represent abstract and title companies.

Another thing I am sure most folks are not aware of is that Wal-Mart through Arvest is buying up title and abstract companies all over this country. The other thing is banks are keeping everything in house. This would have been illegal in 1998. I don't even know why we bother calling them banks anymore.

Bought two houses in Canada, never heard of or ever saw a title company, AFAIK they do not exist up north. Mortgage stays with the bank as a 5/25 deal, 25 year life span, interest re-negotiated every 5 years, thends to keep the rate lower. Oh yeah, one signature on one piece of paper, whole document about 6 pages long.

I guess the system here explains something I saw driving across the northern U.S. I saw a sign stating "Entering the NNNN National Forest". We saw exactly one tree.