On 2008-04-08 21:15:18 -0700, joetaxpayer <joetaxpayer@[EMAIL PROTECTED]
> said:
> Why is that, Don? If the current mortgage holder has any interest in
> not losing the loan, and will change the terms for little to no fee (as
> my prior anecdote suggests) why not pick up the phone?
As I understand it, your present lender usually assumes that many
people just want to get the new loan with a minimum of fuss and bother.
These busy people will hesitate to shop elsewhere and will accept
somewhat higher rates for the privilege of staying put with the current
arrangement. Not only that, but also, if you have already obtained a
few quotes from other lenders, you can take them to the present lender
and ask, "Can you match this?" and very often they will match it.
Undoubtedly there are exceptions. But for a more professional and
knowledable discussion of these matters that I can supply, check out
the web site link I put in the previous post:
http://www.mtgprofessor.com/
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