Mortgage Consumer Advocates, Inc. (MCA) is a Texas Non-Profit Corporation. This website will assist people planning a mortgage loan to become more knowledgeable in the mortgage choices and help their decisions; and will provide mortgage education. The site also provides consumers information and ready access to complaint forms and state or federal agencies if needed. MCA is here to educate, inform, assist and protect the consumer on mortgage issues.
What’s This I Keep Hearing about a Mortgage Crisis?
By Michael Wayland | July 3, 2008
This is another video in our ongoing series. Read the rest of this entry »
Topics: Consumer Help, Mortgage Consumer Advocates, Tips, Video Series, protection
What if I Already Have a Mortgage Problem?
By Michael Wayland | July 3, 2008
This is another video in our ongoing series. Read the rest of this entry »
Topics: Consumer Help, Mortgage Consumer Advocates, MortgageChampions.org, Tips, Video Series, protection
How Long Will the Crisis Continue?
By Michael Wayland | July 3, 2008
This is another video in our ongoing series. Read the rest of this entry »
Topics: Buyer Beware, Consumer Help, Mortgage Consumer Advocates, Tips, Video Series, protection
How Can I Protect Myself During the Crisis?
By Michael Wayland | July 3, 2008
This is another video in our ongoing series. Read the rest of this entry »
Topics: Consumer Help, Mortgage Consumer Advocates, MortgageChampions.org, Tips, Video Series, protection
Mortgage Champions Video Series
By Michael Wayland | July 3, 2008
Mortgage Champions, recently just completed a video series to answer some big questions consumers may have about the industry and tips for when purchasing a home. We hope you enjoy.
Topics: Consumer Help, Mortgage Consumer Advocates, MortgageChampions.org, Tips, Video Series, protection
A Welcome Message from Howard Wayland
By Michael Wayland | June 20, 2008
Topics: Consumer Help, Launch, Mortgage Consumer Advocates, MortgageChampions.org, Tips, Video Series
Bi-weekly mortgage programs, are they legit?
By Michael Wayland | May 28, 2008
Have you received an advertisement offering to save you thousands of dollars on your 30 year mortgage and cut years off your payments? With email “spam” becoming more pervasive, these ads are popping up with increasing regularity. But are what they’re selling legit, or just another scam? Read the rest of this entry »
Topics: Articles, Consumer Help, Tips, protection
Option-ARMs Carry More Than Just a “Cheap” Rate
By Michael Wayland | May 13, 2008
Boy have I got a deal for you! Just pick this loan, pay only the interest each month, which by the way is only 1% (for a limited time only)! Oh but there’s just one catch…We’ll still be charging you the regular rate, and just adding it to the back end. Sure you’ll have to pay it off eventually but your home is going to keep going up in value right? Oh yeah one other thing, in a few years we’ll stop doing this and start charging you more, maybe up to 4 times what you pay now.
I’m sure most people would not rush out to get the loan described above, but many have been sold to customers, especially in high priced markets. These loans generally go by a more advertiser friendly term, and if you’ve ever been intrigued by promotions for “Option ARMs” or “Pick-a-Payment” mortgages, be wary.
These terms are usually euphemisms for negative amortization loans – and unless you’re careful with how you use them, they can leave you economically depressed and possibly homeless. Read the rest of this entry »
Topics: Articles, Buyer Beware, Tips, protection
Online Mortgage Application Safety Guide
By Michael Wayland | May 8, 2008
It seems like a great idea, companies who will help you submit an application to mortgage lenders who are perfect for your situation. What could be wrong with that?
Plenty! Some lead generating companies will sell your information to dozens of companies over many months. Meaning you could be swamped with calls about your loan request, or worse, an ID thief may obtain your information, call you and receive all the information they look for to rob you and destroy your credit. Read the rest of this entry »
Topics: Articles, Buyer Beware, Consumer Help, Tips, Warning, protection
Protecting Yourself During the Mortgage Crisis
By Howard Wayland | May 5, 2008
Since April of 2007 the mortgage and subsequently the housing industry has been in turmoil. You might ask yourself, “How can I protect myself.” First, if you plan on living in your present home for three or more years, don’t worry. By then things will be straightened out and values, which may be lost should start to rebound. Secondly, you should access your current situation. Do you have a fixed rate or adjustable rate loan? Do you need to refinance a sub-prime loan? Are you going to move soon? These are a few questions you will need to consider. Read the rest of this entry »
Topics: Articles, Loans, MortgageChampions.org, Refinance, Tips
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