Here are several things to consider before refinancing your mortgage with a bank. After closing your bank will turn around and sell your loan on the secondary market for a profit. If you choose mortgage refinancing with your bank you are guaranteed to pay too much for that loan. There many people, some are housewives and once-a-week agents who have earned a lot from making the buying and selling of foreclosed properties a hobby. But you need not be an expert at real estate laws. To get your FREE Mortgage Refinancing Video Toolkit, visit RefiAdvisor.com using the link below. To get your hands on this "Mortgage Refinancing Toolkit," which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com. Your bank knows what mortgage rates their competitors in the wholesale market are closing loans at; however, they are counting on the fact that most homeowners don't understand mortgage rates to overcharge their customers. It can also keep it as an additional asset, especially when the property is in a prime district. The Real Estate Settlement Procedures Act (RESPA) protects homeowners from abusive lending practices by requiring mortgage lenders to disclose all of the fees associated with their loans. There many people, some are housewives and once-a-week agents who have earned a lot from making the buying and selling of foreclosed properties a hobby. To get your hands on this free video tutorial: "Mortgage Refinancing - What You Need to Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com. If it wins, it will have total ownership of the property and may do anything with it. Banks are different from traditional mortgage originators because they close on loans in their own name. Banks and Broker-Banks are a unique type of mortgage originator as they fund their mortgage loans with their own money; Broker-Banks are simply banks pretending to be mortgage brokers. Here are tips to help you avoid paying too much when refinancing your mortgage loan. Your bank will always quote you the highest interest rate they think you will go for. Once you close on the mortgage the bank will turn around and sell your loan to secondary mortgage market collecting their profit. If you speak to a bank employee about mortgage rates the employees will all swear the interest rates are not marked up and will even show you the rate sheets. By buying an undervalued property and then reselling it at its appraised value, vis-à-vis current market values, an agent can earn thousands of dollars in profits. Bank mortgage rate sheets also have Service Release Premium built into their interest rates. It can either resell it at a higher price or rent it out. The only way to spot this markup that your bank includes in their rate sheets is to find out what the going wholesale mortgage rates are. Banks exploit the loopholes in RESPA to make their loans seem more affordable with the fees and closing costs; however, they hit you with undisclosed SRP markup on your interest rate. If you’ve been researching mortgage loans online you may have heard of Yield Spread Premium. Banks mark up wholesale interest rates to boost their profits when selling your loan. If you are in the process of refinancing your home mortgage and are considering your bank, there are several things you need to know before making an expensive mistake.