14. The Truth About Fees

What’s up with all the loan fees? Are they all mandatory, or are some bogus junk fees that you can get waived? This chapter alone could easily save you 50 times the cost of this book, so I hope you’ll keep it for future reference and recommend it to other homebuyers and homeowners who are refinancing. I am all for getting rid of excess costs. But, some people try so hard to get reduced fees that they end up shooting themselves in the pocketbook. They fuss over a couple hundred dollars and pay thousands more as a result. Take care you don’t accidentally make that mistake. To illustrate, here’s a true story:

Mr. and Mrs. Thrifty, as I call them, wanted so much to get the cheapest loan ever that they made two costly errors. ...

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