May 17, 2008
- Seattle, Washington
Have you been to mortgage town yet?
By Herb Weisbaum
Have you been to mortgage town yet? That's mortgagetown.org, the new Web site run by the National Consumers League.
"We're not selling anything. This is a consumer organization that is here to help consumers through this very complicated and arcane process," said Sally Greenberg, executive director of the National Consumers League. "We want consumers to understand that there are ways to get in trouble." Mortgagetown takes you through the process step by step. What can you afford and which loan is right for you? There are tips on finding a lender and negotiating a good deal on your home loan. Plus there's a glossary of terms so you can learn the lingo. There's even advice on what to do if you can't make your mortgage payments. "So this is intended to be a way for consumers to avoid all the things that we see now in the marketplace, where people have taken on mortgages that are over their heads," said Greenberg. Mortgagetown: information you can really use before you buy a home. |
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