Mortgage refinancing Things you should know
" When a mortgage broker charms a borrower into signing for a mortgage with an interest rate that is much higher than the borrower would be able to get from an honest broker, the broker's reward is a sum called the yield spread premium. This kickback is a strong incentive for the broker to talk you into a high interest rate. If the mortgage loan you are offered includes a yield spread premium, back away. Good loans never include this fee. • Routine fees that have been increased outrageously.