Equity Home Loans - ING Mortgage?

ING Mortgage?

I just read a few "answers" to someone's post about ING Mortgage, and I am confused. ING Mortgage is telling me hand's down that it is 695.00, plus odd days interest, and then the mortgage tax, and that is it. In their paperwork, they indicate "there will be some 3rd party fees" but when I ask them about it, they say "No, these are listed by law, but you (me the consumer) do not pay them, they do." However a mortgage guy @ National City Mortgage told me to BEWARE.... he said that they can't pay 3rd party fees themselves b/c it would be illegal. On different Yahoo answers, it supports what my National City Mortgage guy told me, but ING SWEARS that I will not have to. I would like to have it listed directly to me opinions from others on this site who either have applied for an ING mortgage, have one, or an expert. This is not clear - I'm sorry. Cna someone tell me of an experience with ING Mortgage or any intelligence you have on company?

Public Comments

FTC: High Rate – High Fee Loans (know your rights): http://www.ftc.gov/bcp/conline/pubs/homes/32mortgs.htm HUD Revised Borrower’s Closing costs guidelines: http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=MLET&s1=06-$[no]&op1=AND&SECT1=TXTHLB&SECT5=MLET&u=./hudclips.cgi&p=1&r=23&f=G HUD Sample of Good Faith Estimate: http://www.hud.gov/offices/hsg/sfh/res/resappc.cfm The HUD-1 closing costs form explained: http://www.alta.org/consumer/hud1.cfm HUD consumer complaints: http://www.hud.gov/offices/hsg/sfh/res/resrefer.cfm Real Estate Settlement Procedures Act (RESPA) [about closing costs & settlement procedures]: http://www.hud.gov/offices/hsg/sfh/res/respa_hm.cfm Predatory Lending information from ABA: http://www.aba.com/Consumer+Connection/CNC_pred1.htm Mortgage Loan Fraud a report http://www.fincen.gov/MortgageLoanFraud.pdf Consumer Credit Protection US Federal Laws: http://uscode.law.cornell.edu/uscode/html/uscode15/usc_sup_01_15_10_41.html Federal Statutes Laws having to do with Banking, from Cornell University: http://uscode.law.cornell.edu/uscode/html/uscode12 Federal Code Laws having to do with Banking from Cornell University: http://www.law.cornell.edu/cfr/cfr.php?title=12 If the answer to your question is not in the above links the question does not exist. Buena Suerte
These companies like ING (American General), Country Wide, Ditech offer these so called "no closing cost loans" there is closing cost on all loans. All these company's jack the rate to pay for YOUR closing cost. What rate are they charging you? You should be able to get a 30 year fixed rate mortgage in the low 6's right now.
One Low Closing Cost Save thousands on your Orange Mortgage with a low closing cost of $695 for mortgages up to $500,000 when you use our closing agent. As with any loan, you’ll need to pay required taxes, any odd days’ interest, and any extra title insurance you choose to buy. If you use your own closing agent or have a mortgage over $500,000, you still get a great deal - we’ll take $1,000 off your closing costs. That's off their website. They're offering a 6.00% 5/1 ARM today. That's the same rate you can get a 30 year fixed rate for, with similar closing costs, at almost any bank or broker. And at least with other brokers and bankers, you can have someone sit face to face with you and answer your questions until you are satisfied, instead of having to consult yahoo answers.
the third party fees are appraisal, notary, title and escrow. you can get away with paying 695. there are companies out there that will cover the third party closing costs. national city mortgage, may be misleading you.