Palm Beach Real Estate and Loans

You can see the signs all over Palm Beach promising to refinance your real estate - at NO COST!

You see it in the papers (if anyone still reads them!), on TV, on the internet and you hear it on the radio:  Refinance your mortgage at NO COST.

Do people fall for it?  Absolutely - over and over. 

Quite a con job actually and it's so simple.  Everyone wants to save money.  It's a natural reaction and there is certainly nothing wrong with it.

But unfortunately, too many people hear 'no cost' and their brains shut down.

Step back for a minute and think of the # of people you know that work for free - how big is that list?

There is no such thing as a no-cost mortgage. So what is really happening?

• Typically, when refinancing a mortgage, the closing costs are just rolled into the principle of the new loan - so you aren't bringing any money to the closing
• There might really not be a Broker's fee BUT there are fees from the Lender, the title company, etc
• Even if you forget all of that, you can never get away from 2 things- death and taxes!  There are taxes involved with every loan.

How do they get away with these ads?  It's just a biiiiiiiiiig stretch of the truth - they're not saying TOTALLY FREE, just implying it.

Hardly a day goes by without me telling someone- If it sounds too good to be true.......

I would aviod anyone using this tactic like the plague - you're just going to get a BIG surprise.

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