When applying for a mortgage loan, whether it be for a new home purchase or a refinance, it is important to take your time and not be in a rush. A mortgage is one of the largest and most important financial decisions that a person will make in their lifetime.

Although many people applying for a mortgage loan do it for different reasons, the approach and behavior displayed before the loan, during the loan, as well as after the loan are similar. It is these actions on the part of the customer that play into the hands of the dishonest mortgage companies and their bag of tricks.

A recent report indicated that mortgage loan rip-off cost consumers 9.1 Billion dollars last year alone. The important thing to understand from this statistic is that mortgage rip-off and high cost loans is a system, a repeatable and reliable process. And the consumer unknowingly contributes to this outcome by rushing into the loan, or remaining focused primarily on their own needs and wants.

You may experience some challenges when looking for simple solutions to utilize for your mortgage loan needs. However, by rushing and not taking your time to carefully consider the options available, and if they can apply to your personal scenario, can result in problems later on. Many consumers discover the most amazing things about their mortgage after it all has been concluded. This obviously is the wrong time to become familiar with your loan and it's characteristics.

Dishonest mortgage companies will try to hide their bogus fees and points by informing the customer that they can get the loan done fast, hoping the consumer will place a value on this. It is good to not waste time, but beware of the company that may attempt to entice you with this, because they can rush the entire process, creating a state of confusion , in which their excessive fees, points and programs can be slipped in.

If you were to ask the average mortgage broker out their if they really care what loan they put their clients into, even though your may hear a chorus of "I do," the reality is they simply want to close the loan, by any means necessary.

Remember, the higher interest rate a mortgage broker stuffs into a loan program, the bigger their compensation from the bank, plain and simple. This relationship can sometimes be the all consuming concern to the mortgage company, and, by rushing headlong into the process, one can only assist in potentially hurting themselves.

Be mindful that you don't have to sign your loan documents - you can find another mortgage company. It might not save time, but it could possibly save you a ton of money.

Bearing the above facts in mind, don't make a move until you receive the best advice for your mortgage needs. Your proper selection of a mortgage loan need not be an expensive hit-and-miss proposition.

Mortgage Secrets Exposed! - Explaining the Process of Mortgage Loan Rip-off

Eleazar Heracleopolis, http://www.accumortgagesecrets.com is the author of "Mortgage Secrets Exposed," the top rated mortgage resource helping consumers prevent mortgage loan rip-off - one loan at a time.