September 26, 2001 20:1:32 The Points BUMP Game Article #1 By Andy Caird andycaird@aol.com of Mortgage Options The Points "BUMP" Game Article #1 I vote we never pay points, how about you? Consider the payment of points. When you shop at Walmart, getting a discount is usually a Good Thing. But in lending, points are an unfair fee, designed to pad the brokers profit margin. Anybody ever tell you this before? No? Well, that's because if they keep it a secret, they can continue to screw you blind. In order to WIN, you have to be really sure you're getting what you're paying refinance home loans refinance home loans for with regard to points. You usually are not getting any value for points at all. So, what are points? They are supposed to be pre-paid interest. Let me ask you this. Why would anyone want to pre-pay INTEREST? Wouldn't you RATHER pre-pay PRINCIPLE? Principle is the money upon which the Interest (or cost of the loan). So which do you want to prepay? Principle. Based on my twenty years of experience as a real estate and lending professional, the ONLY way I know you can prove that points are a true discount to you, is by viewing an actual debt management services refinance home loans WHOLESALE RATE SHEET on the day of closing. Problem is, your Broker won't show it to you (like I will). In less than ten minutes, I can sit down with a wholesale rate sheet and show you whether paying points would be good for you, based on what you want to accomplish. I assume you want to win. At Caird Mortgage Options, we present options designed for you to pay off your mortgage and all debts in 12 years, so in the final years of your career, you can spend your money on building a retirement nest egg. This is bankruptcy chapter 13 refinance home loans the way Americans WIN! Listen, Brokers don't set rates. Lenders set rates. You can't go to the wholesale lender without using a licensed retail broker and he won't show you rates. I know, I knowú you think rates are available all over the paper and on the net. Baloney! You aren't reading daily wholesale quotes. You're getting rates from Brokers, and Brokers aren't lenders. Brokers shop loans and they drive Beemers & Mercedes Benz for a reason. They screw the public by Bumping your Rate. Itas the classic bait & switch game. They take you all the way to closing, home equity loan rate refinance home loans then at