Thomas
Anderson,#2Consumer Comment
Tue, April 10, 2007
"Most lenders I have talked to said that the industry standard is 2yr fixed w/a 2yr prepay." No- we always went for 15-year fixed and NO prepay penalty mortgages, or 30-year fixed and NO prepay penalty mortgages. And these are the mortgages we got. And you are SUPPOSED to get a loan disclosure statement BEFORE you sign anything, and usually you are to get that disclosure 1 week before the closing. Check the truth in lending laws.