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Homeowner sees bad side of mortgage lender

Why do many companies treat borrowers so badly?

DEAR BOB: We recently refinanced our home for the third time in the last few years. Every time we received a significant refinance benefit, such as increased mortgage amount, lower interest rate, and a shift from adjustable to fixed interest rate. But each time, my wife and I said we would never go back to that mortgage lender again. Did we just have bad experiences or is this typical for homeowners who refinance? – Jonathan R. DEAR JONATHAN: You are not alone. When I first read your e-mail, I figured you just had very bad luck. Purchase Bob Bruss reports online. But the next day, I read a customer satisfaction survey from J.D. Powers Co., the nationwide survey company that quality-rates automobiles and many other consumer products. J.D. Powers reports that most mortgage borrowers would not recommend their mortgage lender to their friends. Based on my experiences with many mortgage lenders during my 37 years of investing, I rarely went back to the same lender. To illustrate...

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