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As a homeowner looking for a new mortgage or refinance your current mortgage, you must do your homework before shopping for a loan. Doing your homework will help you Lenders want to avoid predatory practices that take advantage of you.

Predatory mortgage lenders are more often than you think. Many homeowners are the victims of these practices and do not even know. Predatory lenders target homeowners with poor credit, first time buyers, minorities and the elderly with their lending. Mortgages can be an intimidating topic for many homeowners. The burden of borrowing too much through the process quickly, because many do not see the hurry, they are overpaying for their mortgage until it is too late. Here are steps you will avoid the use.

Shop for the Best Mortgage Deal

Compare mortgage offers from a variety of lenders and brokers. If a loan offer seems too good to be true, it probably is too. By shopping from a variety of lenders and brokers have a good idea of what fair prices and fees are.

Know Your Limitations

If you have a bad credit rating expect lenders offer loans for your situation. If a lender plays down your credit and overpromises based on what you know, realistically, if the question is that of lender. Spend your time on credit reports so that you know exactly where you stand and find errors.

All lender documentation

Read the fine print on your mortgage contract. Question any spaces or find errors, do not sign anything until you fully understand all aspects of the loan agreement. Make sure that all of the number of creditors present and that the interest rate and fees are exactly what you agreed. When closing, make sure that nothing has changed in the contract, the creditor may try to sneak something in the past be closed.

To learn more about predatory lending and how not to be used up for a free mortgage guide.

To get your free mortgage guide RefiAdvisor.com visit the link below.

Louie Latour is a mortgage professional and the owner of the RefiAdvisor.com, a mortgage resource site offers a free gift for homeowners: "Mortgage Refinancing - What you should know." "This guidebook helps homeowners avoid common mortgage mistakes and predatory lending.

Claim your free guide today at: http://www.refiadvisor.com

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