Go Back To Search Results Question What is going on with Morgage Companies? I made an offer on a house and it was a good deal . Price reduced a lot!! . But the Morgage Co wanted $8000.00 in closing costs. Thank God I got out of that because that was way too much Should have been $3500 or $4000.00.I figured. What is the deal now? By Good-american Posted on 04/09/08 Total Answers 4 Answers- Companies have lost billions of dollars due to foreclosures. People basically purchased homes on sweet deals such as zero down, and took adjustable rates. Soon they went up, foreclosures went up, andn ow they are getting serious about giving away money. Answer by : kushbusiness On Date 2008-04-09 18:03:22 The easiest way to answer your question is to get a good faith estimate from one mortgage broker and shop it around town. Perhaps it is possible that your estimations are simply too low. Answer by : linkus86 On Date 2008-04-09 18:23:43 Mortgage companies are being more difficult with EVERYONE now because of all of the less than smart people that got adjustable mortgages and let their homes go into forclosure. Answer by : blogger On Date 2008-04-09 18:26:36 that is why you have to "shop " around to look for mortgage broker who will not overcharge you.- always ask for their good faith estimate, because here they have to disclose their fee, and you can compare this with different companies. Answer by : bianca On Date 2008-04-10 11:10:23   Go Back To Search Results