oan representative will give you a convincing story as to why you should switch to a less desirable mortgage, often with a higher interest rate and fees. Because mortgage industry is extremely competitive and loan representatives are paid by commission, many try and attract business by quoting fictional mortgage rates, closing costs, and points. After processing your application the loan representative magically discovers a glitch in your application and switches you to a different mortgage. Here are several tips to help you avoid the bait-and-switch when refinancing your mortgage loan.

The problem with avoiding this bait-and-switch is that by the time you find out about the problem you’re already obligated to a 30 day closing date and it's day 15. Your loan representative will give you a convincing story as to why you should switch to a less desirable mortgage, often with a higher interest rate and fees.

gage rates, closing costs, and points. After processing your application the loan representative magically discovers a glitch in your application and switches you to a different mortgage. Here are several tips to help you avoid the bait-and-switch when refinancing your mortgage loan.

The problem with avoiding this bait-and-switch is that by the time you find out about the problem you’re already obligated to a 30 day closing date and it's day 15. Your loan representative will give you a convincing story as to why you should switch to a less desirable mortgage, often with a higher interest rate and fees.

ches you to a different mortgage. Here are several tips to help you avoid the bait-and-switch when refinancing your mortgage loan.

The problem with avoiding this bait-and-switch is that by the time you find out about the problem you’re already obligated to a 30 day closing date and it's day 15. Your loan representative will give you a convincing story as to why you should switch to a less desirable mortgage, often with a higher interest rate and fees.

avoiding this bait-and-switch is that by the time you find out about the problem you’re already obligated to a 30 day closing date and it's day 15. Your loan representative will give you a convincing story as to why you should switch to a less desirable mortgage, often with a higher interest rate and fees. oan representative will give you a convincing story as to why you should switch to a less desirable mortgage, often with a higher interest rate and fees. If you agree to these terms the loan representative receives a higher commission for your loan.

How can you protect yourself from this mortgage scam? The only way to avoid dishonest mortgage representatives is to shop based on integrity. Ask for references, verify experience, and check for complaints with your local Better Business Bureau and State Attorney General. Most importantly, when comparison shopping for a new mortgage, drill down the details from your loan representative and get everything in writing. Verbal agreements between you and your loan officer are meaningless when it comes to your mort