Is there any catch to this?

[Anonymous]

Anonymous wrote:I did a no-cost refi through Eagle National Bank, and it was the real deal. I did have to pay for an appraisal (I'm surprised that's not required - you'd think they'd need one), but they basically paid me back for it.

The downside is that you are restarting your mortgage at 30 years or whatever # of years you choose. Also, you may not like your new mortgage lender as much as your current one. I am saving money, but I miss Wells Fargo a lot.

What does this mean?
Besides setting up an auto-pay or writing a check each month, how does one differ from the other?
How does your new lender make you miss Wells Fargo? Did WF provide free massages or something I am missing?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I did a no-cost refi through Eagle National Bank, and it was the real deal. I did have to pay for an appraisal (I'm surprised that's not required - you'd think they'd need one), but they basically paid me back for it.

The downside is that you are restarting your mortgage at 30 years or whatever # of years you choose. Also, you may not like your new mortgage lender as much as your current one. I am saving money, but I miss Wells Fargo a lot.

What does this mean?
Besides setting up an auto-pay or writing a check each month, how does one differ from the other?
How does your new lender make you miss Wells Fargo? Did WF provide free massages or something I am missing?

I have GreenTree now like OP and they're awful. The website is poorly designed and difficult to navigate. Also, some loan servicers are also more competent than others. For example, my mortgage payment is due on the first with a grace period until the 8th. For several years I've had my payments arrive no later than the 28th of the preceding month. Well, one time they decided to apply the "early" payment to my principal balance instead of to the next month's payment and I had to go through the loss mitigation department to sort it out. It was a huge pain to straighten it out and then they told me I shouldn't pay early/on time but that I should pay between the first and the 8th (which is technically late, albeit within the grace period).