No Cost Mortgages - Are They Really No Cost?

Mortgage interest rates have began to fall in 2008. Along with improving interest rates and the hope of tapping into a homeowners' emotion, misleading mortgage advertising offering incredible promises seems to be coming back. For example, I just saw one such advertisement on TV recently, for "The Real No Cost Mortgage". As a 12 year mortgage broker veteran, I shudder each time I see or hear advertising about this type of mortgage, especially in light of the mortgage industry collapse in 2007. I'm going to say it right off the bat: There Are No "No Cost Mortgages" on the Planet!" Is this clear? All mortgages have costs associated with them. Period, end of story!