Global Star Mortgage Corp

Mortgage Misinformation - The Online Trap

 

Weston, FL -- (ReleaseWire) -- 07/06/2007 -- Have you ever searched for mortgage information on the internet, but come up with absolutely nothing except the glorious opportunity to give up your personal information? Furthermore have you ever gone as far as giving your information to have your phone almost explode with loan officers using little better than used car sales tactics to get you to do a loan with them?

In response Global Star Mortgage has launched www.BigMortgageSecrets.com, a new online information service that assists borrowers with useful, relevant and timely mortgage information – information which can be obtained without the surrender of the personal details of your identity or property.

Global Star President Anthony Sands has helped countless families finance and refinance their homes over the last five years throughout the tri-county area. “This is a problem for almost every Floridian seeking a good deal on their mortgage. The number of Florida home owners in a situation where they have no choice but to refinance due to expiring ARM mortgages and skyrocketing payments is increasing daily – for some the deadline has passed and the situation is critical.”

Sands went on to describe, “The tactics used to get your information online are almost always a bait and switch. Here’s an example I found this morning: “Mortgage rates at 3.0%” you click and give your info, and the last thing you see on the screen is “Thank you! We have received your request and have notified our partners. You should expect to hear from up to four lenders shortly. Thank you for using BSinfosellers dot com!”

Shaking his head Mr. Sands said, “This can be better translated as “Thank you we just sold your personal information (which we obtained under the false pretense of having mortgages available at 3.0%) to any lender of any standard of any reputation who would pay.” Your phone will start ringing in minutes.”

It is a little known fact that: It is against the law governing brokers, lenders and banks for an advertisement of a home loan to contain only rate, or only payment, or only loan amount. In order for an advertisement to comply with the law the advertisement must contain ALL three at the same time. The advertisement must also display the APR plus a disclaimer for those who may not qualify for the advertised program.

The way companies get way with this bait and switch advertising is very simple – they are neither mortgage brokers, lenders, nor are they banks. They are information sellers and they are not held to any standards at all and due to this fact they are quite prepared to invent any type of hype advertising to get your info. Your info is what they sell and how they make money.

Global Star Mortgage with Global Star Mortgage with www.BigMortgageSecrets.com seeks to address this problem, by offering reports and inside information on the mortgage process for Free with absolutely no obligation.

All subscribers to the FREE reports available at www.BigMortgageSecrets.com also receive a weekly video bulletin titled “The Wednesday Mortgage Minute”: these tips are sent out by Anthony Sands, President of Global Star Mortgage directly to all www.BigMortgageSecrets.com subscribers’ email. “The Wednesday Mortgage Minute” covers topics ranging from maintaining good credit to real explanations of how many advertised loan programs actually work.

This is invaluable information for potential homeowners and current home owners who are considering refinance.

Anthony Sands is available for interviews by phone and can be reached at 954-803-3803.