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There are several advantages when getting an online mortgage quote. First fast, easy, and quick response. Second you have ability to shop around with more than 1 mortgage prospect, and some services shop around for you! Unlike traditional mortgage quote you will not get bombarded with phone calls from 30 different lenders, only the 1 you choose to contact you.

There are several things to look for when shopping online for a mortgage quote.

The mortgage field is cut throat competition. Mortgage companies are falling over each other to give consumers the lowest quote to get the deal. They only get paid if you go with them, so their best interest it to get you the lowest rate possible, and that means they have to shop around for lenders that you're deal is suited for. Behind the scenes if they are not a direct lender they bargain with direct lenders to see what rate they can get, and then turn around and sell you.

The downside of this is that you are dealing with a middle man approach. There are websites like A2zLoanQuotes.com for example, that are the direct lenders. There is no middle man with their service, and that means less middleman fees, and not only do you get the best rate available, you pay overall less than the person who is shopping with a middleman company.

A friendly service is always the greatest asset a company can have. Once you decided to go with a specific company, their initial response to your needs should be a great factor when you want to close the deal. If they are kind, and give you detailed explanations of the whole process you know you've got yourself a winner. The best way to help the mortgage process move faster is by always having the paper work to the broker onto usually the same day if not with 24 hours of the mortgage company asking for it. This is the best way to get the fast and quick service you want. Most companies can close with 2 weeks. Some rare companies such as A2Zloanquotes can close within 1 week if all documents are made available. It is up to you on how fast you want the mortgage process to go.

Another things to look for and is one of the most important is a great rating with a 3rd party. The Better Business Bureau is the choice for most. If a company has a B+ or better, this is signs of a reputable company. The less complaints the better. A company for example like A2ZLoanquotes, which has an A rating, and Zero complaints, is probably worth looking at. Check out the background of the company, make sure you know who you are dealing with, and have a brick and mortar location. This is a sure sign of a great standing company.

Once you fill out a mini-form on the mortgage quote company's website, you should get an immediate response, usually between 5 minutes to 24 hours. This lets you know that you are being taken seriously. If you feel out information and a company gets back to you in over 48 hours that usually means it is not organized.

The best part about shopping online is being able to shop around without obligation. You can get several quotes from different companies and choose the best one that fits your needs. You even have the possibility of staying anonymous.

Go with a trusted online home loan quote specialists like http://www.A2ZLoanquotes.com

They have a proven track record. Zero complaints with the BBB. A rating with the BBB. Backed by a Direct Lender, so there are no middleman fees, and much more.

Mary and Bill recently divorced. Their divorce decree stated that Bill would pay the balances on their three joint credit card accounts. Months later, after Bill neglected to pay off these accounts, all three creditors contacted Mary for payment. She referred them to the divorce decree, insisting that she was not responsible for the accounts. The creditors correctly stated that they were not parties to the decree and that Mary was still legally responsible for paying off the couples joint accounts. Mary later found out that the late payments appeared on her credit report.

If you've recently been through a divorceor are contemplating oneyou may want to look closely at issues involving credit. Understanding the different kinds of credit accounts opened during a marriage may help illuminate the potential benefitsand pitfallsof each.

There are two types of credit accounts: individual and joint. You can permit authorized persons to use the account with either. When you apply for creditwhether a charge card or a mortgage loanyou'll be asked to select one type.

Individual or Joint Account

Individual Account: Your income, assets, and credit history are considered by the creditor. Whether you are married or single, you alone are responsible for paying off the debt. The account will appear on your credit report, and may appear on the credit report of any "authorized" user. However, if you live in a community property state (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin), you and your spouse may be responsible for debts incurred during the marriage, and the individual debts of one spouse may appear on the credit report of the other.

Advantages/Disadvantages: If you're not employed outside the home, work part-time, or have a low-paying job, it may be difficult to demonstrate a strong financial picture without your spouse's income. But if you open an account in your name and are responsible, no one can negatively affect your credit record.

Joint Account: Your income, financial assets, and credit historyand your spouse'sare considerations for a joint account. No matter who handles the household bills, you and your spouse are responsible for seeing that debts are paid. A creditor who reports the credit history of a joint account to credit bureaus must report it in both names (if the account was opened after June 1, 1977).

Advantages/Disadvantages: An application combining the financial resources of two people may present a stronger case to a creditor who is granting a loan or credit card. But because two people applied together for the credit, each is responsible for the debt. This is true even if a divorce decree assigns separate debt obligations to each spouse. Former spouses who run up bills and don't pay them can hurt their ex-partner's credit histories on jointly-held accounts.

Account "Users" If you open an individual account, you may authorize another person to use it. If you name your spouse as the authorized user, a creditor who reports the credit history to a credit bureau must report it in your spouse's name as well as in yours (if the account was opened after June 1, 1977). A creditor also may report the credit history in the name of any other authorized user.

Advantages/Disadvantages: User accounts often are opened for convenience. They benefit people who might not qualify for credit on their own, such as students or homemakers. While these people may use the account, younot theyare contractually liable for paying the debt.

If You Divorce If you're considering divorce or separation, pay special attention to the status of your credit accounts. If you maintain joint accounts during this time, it's important to make regular payments so your credit record wont suffer. As long as there's an outstanding balance on a joint account, you and your spouse are responsible for it.

If you divorce, you may want to close joint accounts or accounts in which your former spouse was an authorized user. Or ask the creditor to convert these accounts to individual accounts.

By law, a creditor cannot close a joint account because of a change in marital status, but can do so at the request of either spouse. A creditor, however, does not have to change joint accounts to individual accounts. The creditor can require you to reapply for credit on an individual basis and then, based on your new application, extend or deny you credit. In the case of a mortgage or home equity loan, a lender is likely to require refinancing to remove a spouse from the obligation.

For More Information If you need additional help during this time of financial stress, please call Cindy Morus at 541-387-2995. She's been through it, too.

Cindy S. Morus (www.phelps-creek.com) is a Certified Financial Recovery Counselor specializing in showing women and their families how to achieve financial well-being and peace of mind. She is also a Certified Credit Report Reviewer and Get Clients NOW! licensee. Contact her at 541-387-2995 or cmorus@phelps-creek.com She is also the publisher and editor of "Financial Fitness", an internet gazette dedicated to helping people improve their financial fitness no matter what decisions were made in the past.

Attention Ezine editors/Site owners: Feel free to reprint this article in its entirety in your ezine or website as long as you leave all links in place, do not alter the content and include our resource box as listed above. If you do use the material please send us a note (cmorus@phelps-creek.com) so we can take a look. Thanks.

With the Fed's latest rate decision, many consumers may be back in the business to purchase a new home or refinance their existing home, in hopes of getting a lower interest rate. However, BEWARE, and don't forget that many of the problems in the market right now are caused by lenders who took advantage of past borrowers. Below are 10 common strategies that I have seen loan officers use in order to increase their commissions.

1- Unnecessary refinancing: The lender "Strips" homeowners' equity from their homes by convincing them to refinance again and again when there is no benefit to the borrower. Unnecessary refinancing can quickly drain borrower equity and increase monthly payments -- sometimes on homes that had previously been owned free of debt.

2- They try to steer you into the wrong loan: An example of this is a lender trying to steer borrowers into sub-prime mortgages, even when the borrowers could qualify for a mainstream loan. Vulnerable borrowers may be subjected to aggressive sales tactics and sometimes outright fraud. Some have estimated that up to a third of borrowers with sub-prime mortgages could have qualified for loans with better terms. These lenders pressure borrowers to accept higher-risk loans such as balloon loans, interest only payments, and steep pre-payment penalties.

3- Abusive Prepayment Penalty: Borrowers with higher-interest subprime loans have a strong incentive to refinance as soon as their credit improves. However, up to 80% of all subprime mortgages carry a prepayment penalty (a fee for paying off a loan early). An abusive prepayment penalty typically is effective more than three years and/or costs more than six months interest. In the prime market, only about 2% of home loans carry prepayment penalties of any length.

4- Excessive fees - Dubious fees are costs not directly reflected in interest rates. While an origination point is common, discount points should only be used to buy-down the interest rate, not pad the commission of a loan officer. Because these costs can be financed, they are easy to disguise or downplay. Don't be afraid to ask the loan officer what he or she is making on the loan. If they are afraid to tell you, more than likely you are paying too much.

5-Knowingly lend more money than a borrower can afford to repay. Do not let anyone convince you to borrow more money than you know you can afford to repay. If you get behind on your payments, you risk losing your house and all of the money you put into your property.

6- They discriminate. They are knowingly charging higher interest rates to borrowers based on their race or national origin and not on their credit history. This is a crime, and while it should never happen, I have seen this be the case many times when doing refinances for people.

7- They Monopolize: A lender tells you that they are your only chance of getting a loan or owning a home. You should be able to take your time to shop around and compare prices and lenders. Shop for a lender and compare costs. Be suspicious if anyone tries to steer you to just one lender.

8- They pull a fast one at closing: The cost or loan terms at closing are not what you agreed to. Be sure to get a copy of a lock-in-agreement. If the loan rate changes by 1/8 % the lender must disclose to you the changes. Also, the lender must review your closing docs with you 24 hrs before closing. This way you can ensure you are getting what you are paying for.

9- Use high pressure sales tactics to sell you loans that you shouldn't consider: DO NOT let anyone persuade you to make a false statement on your loan application, such as overstating your income, the source of your down payment, failing to disclose the nature and amount of your debts, or even how long you have been employed. When you apply for a mortgage loan, every piece of information that you submit must be accurate and complete. Lying on a mortgage application is fraud and may result in criminal penalties.

10- Has you sign documents with blanks. Never sign a blank document or a document containing blanks. If information is inserted by someone else after you have signed, you may still be bound to the terms of the contract. Insert "N/A" (i.e., not applicable) or cross through any blanks. Read everything carefully and ask questions. Do not sign anything that you don't understand.

In sum, throughout my lending profession I have seen many people suffer from the pitfalls of bad lending practices. I personally recommend doing your due diligence, and research before you look to refinance or purchase. This investment process should be enjoyable, and very simple. After all, it is usually your biggest investment you will ever make-don't let a lender spoil this moment by bad lending practices.

Chet J Wall is the founder of http://www.correctlending.com He founded this company based on correct lending principles. After years of scientific research Chet Wall, and software engineer Harold Madsen set out to create software that protects the borrower from the downfalls of mortgage lending. What they came up with was a proprietary algorithm that matches each borrower with the perfect loan. At http://www.correctlending.com borrowers use a sophisticated mathematical engine (Correct Loan Analyzer) that allows the borrower to answer 8 different questions, and receive an answer regarding which is the best loan type for them. There is also a paid version, that allows a borrower to take a more in-depth scientifically proven questionnaire that helps them make this decision.

After they receive their personalized report, Correct Lending prices out the loan, and then closes the loan for them. Borrower's are guaranteed the correct loan at the lowest possible price. It is a new way of lending that puts the borrower in charge, and allows them to get the perfect loan at the perfect price.