New service from BEXT, Inc. arms mortgage borrowers with education, information, and significant financial savings.
STUART, FL (PRWEB) October 5, 2005 -- BEXT, Inc. announces the launch of Test My Loan, their one-of-a-kind consumer advocate solution that every loan shopper in America can now use while securing their new home purchase or refinancing. Test My Loans free service helps borrowers identify hidden, unnecessary, and inflated fees during the loan process.
Its an unfortunate fact that 83% of home loan borrowers in this country are overcharged an average of $1,200 on their loan. Most borrowers lack the industry knowledge needed to identify overcharges and junk fees," says BEXT, Inc. President and Chief Executive Officer Scott Messina. Test My Loan will change all that. Our service provides the information home loan shoppers need so they can make the best possible financial decisions and perhaps save thousands of dollars in the process."
Test My Loan is an independent third party consumer advocate service that provides solutions for loan shoppers in every phase of the borrowing process. For borrowers still shopping for a lender, Test My Loan can offer a shortcut by recommending a certified lender from the Test My Loan network that is committed to the companys cause – to wipe out excessive loan overcharges.
For borrowers who already have a quote from a mortgage provider, Test My Loan offers a free second opinion and alerts them to overcharges in their loan forms. Loan forms are standard throughout the mortgage industry so regardless if the borrower is working with a lender, broker, national or local mortgage company, Test My Loan can help.
Test My Loans website allows borrowers already working with a lender to enter the fees listed in their Good Faith Estimate into an easy-to-use calculator. The borrower is informed instantly if theyre being asked to pay more than they should. The borrower then receives a report via email telling them exactly where theyve been overcharged.
The website then gives borrowers who find out theyve been overcharged the option of receiving a free, no-obligation quote from a certified lender on the Test My Loan network. Test My Loans lender recommendation comes with an impressive guarantee – if one of their certified lenders cannot offer a better deal, Test My Loan will pay the borrowers first months mortgage payment.
Our goal is to make a visit to TestMyLoan.com an integral part of the loan process for every borrower in America. You shouldnt have to be an industry expert to know if youre being overcharged. Just last month alone, Test My Loan alerted loan shoppers to over $1.1 million in overcharges that until now lenders were getting away with charging to unsuspecting borrowers," says Messina. Test My Loan puts the borrower in charge of the process by giving them the facts and in some cases, a better alternative, so they can make a smarter, more confident borrowing decision."
About BEXT, Inc. and Test My Loan
BEXT, Inc. is the premiere provider of products and services that are designed to promote ethical industry practices for mortgage loan originators and real estate professionals. Test My Loan is a consumer advocate service designed to arm loan shoppers with education, information, and significant financial savings. Test My Loan takes the guesswork out of deciphering confusing loan forms and uncovers hidden, unnecessary, and inflated fees. The service offers a free loan form review and a certified lender recommendation. For more information, visit http://www.testmyloan.com.
Contact: Melissa Sike, Vice-President, BEXT, Inc., 772.463.8377 or msike@bextinc.com
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