June 18th, 2010 | 
Author: 
Online mortgage companies can save you a lot of money when mortgage refinancing. Comparison shopping on the Internet is quick and easy; however, you need to keep an eye out for hidden fees. Here are several tips to help you avoid paying hidden “Computerized Loan Origination” fees when mortgage refinancing online.
I. You Can Find Good Mortgage Refinancing Deals Online
Don’t get me wrong, there are excellent mortgage refinancing deals to be found on the Internet. There are also greedy mortgage companies looking to take advantage of you, literally at every corner. This is why careful comparison shopping is an essential part of mortgage refinancing using the Internet.
II. What is This Mortgage Refinancing “Computerized Loan Origination” Fee?
One of the most popular mortgage portals on the Internet is Lending Tree. Their website boasts that they have served over 20 million borrowers. How many of these borrowers do you think actually read the Licenses & Disclosures found at the bottom of Lending Tree’s website when mortgage refinancing? Not many, that’s for sure.
Read the fine print found in this mortgage refinancing disclosure and you’ll find Lending Tree is acting as an online mortgage broker. They claim that there is no fee for you the homeowner, and then turn around and disclose that you will pay up to $1,300 for using their service when closing on your mortgage. You can use the site for free, but apply for mortgage refinancing and you’re slapped with a $1,300 fee just for filling out a form on the Lending Tree website!
III. How Can You Avoid Overpaying When Mortgage Refinancing?
First of all, don’t use Lending Tree to find your mortgage loan. Do your homework, read the fine print, and carefully shop from a variety of online mortgage companies. You can learn more strategies for mortgage refinancing while avoiding costly mistakes by registering for a free mortgage tutorial.
Posted in Mortgages | 
Tags: 3 Things, Loan Origination Fees, Mortgage Comparison, Mortgage Loan, Mortgage Origination, Mortgage Refinancing, Online Mortgage, Portals