Agent

Beware of junk fees on home equity loan

Aren't some charges usually paid by lender?

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, July 16, 2006. DEAR BOB: After reading your recent list of "nonsense" mortgage junk or garbage fees some lenders try to impose, when I recently applied online for a home equity loan I realized I was about to become a victim of a major lender. The lender wants to charge me a loan origination fee, appraisal fee, credit report fee, processing fee, underwriting fee, flood certification, funding fee, $100 escrow settlement fee, $150 title fee, $15 courier fee, $15 wire fee, $75 recording fee, $80 intangible tax and $235 mortgage tax. What is your evaluation of these charges for a home equity loan? --Marydelle P. DEAR MARYDELLE: Most of those are unnecessary junk fees you should not pay. Purchase Bob Bruss reports online. Virtually every local bank and credit union will eagerly make you a home equity loan or home equity credit line (HELOC) without ...