The scammers are very deceptive often presenting themselves as representatives of the Obama Administration. They send official looking documents which lead you to believe that they are legitimate, but they are not.

If a loan modification company asks for big up front fees or any fees up front for that matter, run don’t walk away.

You can read more about these scammers here.

You Can Get The Absolute Best Deal On Your Next Mortgage With Very Little Effort.

There Is A Guaranteed Way To Get The Lowest Interest Rate And Fees

When you refinance, you usually pick a mortgage company based on a marketing piece that caught your eye, by doing an internet search or by a TV or radio commercial.

The problem with choosing by these methods is that – You Really Have No Idea Who You Are Really Dealing With.

What we do know is that there are a few major mortgage companies out there with trusted names.

Companies like Countrywide, Ditech, Quicken Loans, Bank of America to name a few. When you hear names like this, you know you are not dealing with some boiler room operation.

But how do you choose among these mortgage giants?

In the end, a loan is a loan is a loan. All things being equal, the final product is exactly the same.

The only difference is how much you paid for that loan by way of closing costs, and what interest rate did you get?

That is why I am a fan of the one form/multiple offer way of shopping for a refinance mortgage or purchase mortgage.

If you go through a company like LendingTree Mortgage Loans , all you have to do is fill out one simple form and you will get multiple offers from the likes of Bank of America, Citi, Countrywide and other major lenders.

And because these banks know that they are in competition with three or four other banks, they usually give better deals.

Having done that you can compare the offers side by side and determine just who has the best mortgage deal for you. And it’s great because you won’t have a ton of different banks pulling your credit report and that means

Your Credit Score Won’t Drop

This is very important in today’s mortgage market because losing even a couple of points on your credit score can mean the difference of weather you  get approved or not.

Remember — All mortgages are the same when comparing apples to apples. So your goal should be to get the cheapest apple.

And when you are comparing rates and fees from many lenders at once you can easily spot the best deal for you.

This can save you thousands of dollars in closing costs and higher monthly mortgage payments.