Taking loans

If you think you know enough about banks and bank loans and mortgage loans before embarking upon taking a huge loan for you house or any such expenditure, think again and preferably research again. There are these banks and other motagaging institutes which first offer huge discounts on their lending rates and then they harass their customers into paying wrong amount. These hidden cost negate the low interest rates and promises that were earlier made by their mortgage companies to their customers.

A friend of mine faced similar issue. He took a loan from a mortgage company offering huge discounts but he later realized that they were engaged in some unfair practices. They used to send incorrect statements and had only paid call-in service worth around $50 per incident to the customer care division. My friend thought it to be a coincidence the first two times but third time he checked out the same with other customers who confirmed his fears of deliberate mistakes in the statements. Although these mistakes were corrected but not before him paying up $50 to the customer service.