Saturday, March 31, 2007

“Attention: Iowa Homeowners - Use These 10 Steps To Find Out If Your Mortgage Lender is Taking You For a Ride…”

Sad but true...I hear about this almost every day.

I run across folks like you that have no idea about the terms of their current home loan. (Read my previous posts for some examples.)

If you live in Iowa and own your home, there's a FREE way to find out if your Lender is 'taking you for a ride.' Here's all you need to do:

1. Go to http://www.iowalandrecords.org/
2. Click on the 'become a registered user' link. Follow the simple instructions. (Hint: make sure you sign up as a public user so you can have unlimited FREE access to your records.)
3. Once you obtain your unique user name and password, login to the site.
4. Click on the 'Land Record Search' link to the left.
5. Select your County, then click 'continue search.'
6. Now you can locate your mortgage by date range, your 1st & last name, or by the name of your Mortgage Lender.
7. Make sure you choose 'Mortgage' in the document type drop-down window, then click 'search.'
8. Now you can view an image of your mortgage by clicking on the 'Img' link.
9. When the next screen pops up, click on the 'view full image' link. Now you can view a copy of your recorded mortgage as an Adobe PDF document.

OK. Step 10. is a 'biggie.' Here's where you need to pay close attention:

10. Scroll to the 2nd page of your Mortgage. In the middle of the page you should see a bunch of boxes. Check and see if your document has an 'X' on the 'Adjustable Rate Rider' box.

Does it? If not, great. But, if it does...

Then you need to read the Rider in your document! It spells out how the interest rate on your loan more than likely WILL increase, and when.

Whew! Seems like a lot of work, doesn't it?

Want an easier way to see if your being 'hosed' on your home loan?

Then pick up the phone and give me a call at (877)743-0110.
I can help you figure out if your Lender really is 'taking you for a ride!'

I'm shocked at how many people have no idea about the terms of their home
loan. Nobody told them they have an adjustable rate.

Hopefully, this post will help you find out the truth about your mortgage...and I also hope you find out this way rather than the hard way...

...After Your Payment Goes Through The Roof!

Check it out!

Steve

P.S. Please feel free to share these tips with anyone else you think would benefit from this...thanks! :)

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