Tagged: mortgage

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Dear Lender, Why Does my “No Cost” Mortgage cost $8,774.33?

Any smart consumer knows that the adage “no free lunch” applies to almost everything in life. Acquiring a mortgage is no exception. However, one doesn’t have to go very far to find  very exciting ads shouting “NO CLOSING COSTS!!” Who wouldn’t be intrigued by such a message? After all, obtaining a mortgage is expensive. Quotes from lenders for a typical $200,000 mortgage will reflect $2,000 to $3,000 in total closing costs, so “no closing costs” sure sounds appealing.  So what’s the catch? There really isn’t a “catch” per se, but a consumer certainly needs to stay informed on how all of...

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Welcome Aboard!

Thanks for visiting MichiganMortgagePulse.com! This blog is for real etsate professionals and consumers that want to stay on top of all things related to the ever-changing world of home finance. The mortgage world has been in a constant state of change for the last few years, and 2014 will be no different. In fact, the upcoming year is filled with unprecedented legislative changes that will definitely affect how things work in the mortgage world. This blog will help you stay abreast of these changes, and will do so in plain english. Please save MichiganMortgagePulse.com in your web brower’s “favorites” and...