Comments on: What Consumers Do Not Know About Their Mortgages http://www.therealestatebloggers.com/2008/05/03/what-consumers-do-not-know-about-their-mortgages/ Real Estate Blog, Mortgage, and Development News Fri, 19 Mar 2010 14:56:59 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Missouri Real Estate http://www.therealestatebloggers.com/2008/05/03/what-consumers-do-not-know-about-their-mortgages/comment-page-1/#comment-204100 Missouri Real Estate Sun, 04 May 2008 18:41:05 +0000 http://www.therealestatebloggers.com/2008/05/03/what-consumers-do-not-know-about-their-mortgages/#comment-204100 There is a lot of work that needs to be done in this area. From the "Good Faith Estimates" that are not worth the paper they are written on to form that are almost impossible to decipher. The public also needs to take their share of the responsibility. It is an individuals responsibility to know what they can spend on housing. When we purchased our home, we told the banker what we could afford. Of course they kept trying to tells us to spend more. But it is the bankers job to sell loans, it is my job to stay in my budget. There is a lot of work that needs to be done in this area. From the “Good Faith Estimates” that are not worth the paper they are written on to form that are almost impossible to decipher.

The public also needs to take their share of the responsibility. It is an individuals responsibility to know what they can spend on housing. When we purchased our home, we told the banker what we could afford. Of course they kept trying to tells us to spend more. But it is the bankers job to sell loans, it is my job to stay in my budget.

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