A mortgage is a loan agreement that combines two legal documents into a unified promise to repay a debt, in exchange for eventual real property ownership. The details about the amount of money you borrow from the lender and its interest rate calculations, repayment terms and various conditions, until the mortgage is paid off, are spelled out in the mortgage note. Your investment (financial obligation) is secured to the lender, by the mortgage clauses, stipulations and riders contained in the mortgage document; it is this portion which empowers the lender to recover (foreclose) on your real estate and re-sell it, should you default on your loan obligation. Let me ask you something...how much time did you spend going over these documents before you bought your first (or last) property?
I already know what you're thinking, so I already know the answer to that question. Relax, it's not your fault. In the process of buying your Real Estate, you probably worked with a commissioned Real Estate Salesperson/Broker, possibly a mortgage broker/banker or other financial institution rep for your mortgage, paid a lawyer (who was supposed to check out this stuff) and relied on all these people to guide and protect you in the process. The problem here, is that all of these folks have their own unique focus on serving you and it's not always in your best interest. So, what do you do? You happily sign your life away (so it seems) at the closing table, your lawyer cuts the expense checks out of proceeds/reconciles the HUD 1 Statement, everybody shakes hands and you grab the keys to your new property and run off to celebrate.
Your mortgage agreement is akin to a minefield of costly and mostly unexpected surprises and the mines are all buried in the details. The average borrower overpays his/her mortgage by hundreds of thousands of dollars over time generally and those who somehow manage to reduce their interest expenses through planning, still have overpaid through a series of hidden fees and miscalculations that all benefit the lender. This happens to borrowers with fixed rate mortgages, also, but, it's especially painful for borrowers who went the adjustable rate mortgage route...those bumps and caps are pocket killers!
How can we help you? Well, there are a few things that every investor, new and existing must consider and we have programs to assist you:
Forensic Mortgage Audit Service - Get Your Money Back
Turning Point Consulting Group, LLC provides a professional, Government compliant, mortgage audit program analysis, at a minimal cost vs. significant returns of contractual overcharges to you (in many cases, amounting to THOUSANDS of dollars). . For a FREE, no obligation consultation that will outline the benefits of our service to you, either email turningpointnotebuyer@gmail.com with your questions or call Mr. Cater at (518) 265-0063 or Mr. Qadir at (518) 256-9828. You’ll be glad you did!
