For USA members who seeks to get Mortgage or refinance

Banks are there to make money and I would like educate you as how the Mortage market works. first of all Banks compound your interest rate daily .. that's bad..for example if you take out a loan or a Mortage 6% for 30 years, $300,000 you end up paying over $700,000 . What is the solution ? you can double payments that will reduce your 30 years to about 24 years. You can ask your Banker to have a simple interest loand which I will doubt it if they will give it to you.Also for member who are 60 years and older and they have equity on their house over $65,000 you can have a reverse Mortgage(refinance to this concept).What is a reverse Mortgage, simply you stop paying your mortgage bill until all your equity will become zero, nada, nothing left. At that time either you die or if you sell your house the Banker will get most of the preoceeds.With the new era and economic collapse, they Banks right now will give a 30 years mortgage 4%. If you can get that you will never be able to beat this rate any where and time . Good luck.