BabyOpus

This is one subject that I really love to write about. I love to write on mortgage products as most of them are not so informative when they advertise to their consumers. And consumers eat them up easily because they think that interest rates are everything. I once wanted to even start a website where I was going to link all the Banks in Malaysia and give out all their credit facilities for application there but when trying to find some sponsors the government itself turned me down saying it was not a good idea.

Why is it not a good idea to inform consumers on what they actually get when they apply for a certain loan ? Wouldnt it be more informative and help them understand how do loans work? Home equity loan is one of the loans I am kind of an expert in and I can tell you now that the best interest rate means nothing or very little to me. Most Banks here are so smart that they know that their consumers are so naive to understaqnd fully on what they are getting and just look at interest rates. So they actully bring down their interest rates and their other benefits like daily interest is no longer included. Some dont even allow you to pay more to bring down your principal.

One site I have noticed which has been doing what I wanted to do is mortgagefindersnetwork.com . They are very informative and tell you what is best for you in your area. Mortgage-mart.com is a site that has been in existance since 1995. I do hope one day I will get the sponsors that I need to start such a website for the Malaysian market wihout the help of the government.