Costs of closing mortgages rising

An online survey done by showed that the costs of closing a mortgage have increased due to increasing origination fees, an August 5 article from USA Today stated.

According to the survey, the fees for acquiring a single-family mortgage loan worth $200,000 increased by 6 percent last year. Inside Mortgage Finance publisher Guy Cecala said higher interest rates caused the increase of origination fees, as lenders increased these fees to increase their profits.

Increasing mortgage rates and costs may cause you to have difficulty in paying your mortgage on time, leading to a possible foreclose your home. However, if this happens to you in Birmingham, you may explore other financial that may prevent your home from being foreclosed. To learn more of these options, contact the legal team at Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 today.

Paula GreenwayPaula Greenway

Paula Greenway is a native of Birmingham and has focused her practice on consumer bankruptcy since 1996. She is licensed to practice law in all jurisdictions throughout the State of Alabama. Paula has handled over 5,000 bankruptcy cases ranging in complexity throughout her career and prides herself on being able to come up with creative solutions to her clients’ financial issues.