Comments on: Disturbing Mortgage Ad from ING Direct http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/ A personal finance blog where we share insights on carefully saving money, investing, early retirement, mortgages, stocks because the little things matter in achieving financial freedom! Sat, 21 Nov 2009 08:01:45 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Gerald http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-2/#comment-21330 Gerald Tue, 10 Nov 2009 20:04:23 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-21330 Hi, I refinanced recently with ING in part due to their flat-fee rate renewal offer of $750. They have now changed this and it would cost me quite a bit more to renew. It seems that this is dishonest at best and illegal at worst. I used to like ING but now I would recommend against it to anyone. Hi,

I refinanced recently with ING in part due to their flat-fee rate renewal offer of $750. They have now changed this and it would cost me quite a bit more to renew.

It seems that this is dishonest at best and illegal at worst. I used to like ING but now I would recommend against it to anyone.

]]> By: Bob http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-2/#comment-20035 Bob Tue, 29 Sep 2009 02:35:39 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-20035 I'd be HAPPY if they did the rate renewal for 1 months mortgage. $441 is a lot cheaper than $750!!! I’d be HAPPY if they did the rate renewal for 1 months mortgage. $441 is a lot cheaper than $750!!!

]]> By: Albert James http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-2/#comment-20034 Albert James Tue, 29 Sep 2009 00:49:51 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-20034 I started doing business with ING Direct shortly after they opened doors. I had a direct, online-only, no frills savings account. I loved the interest rate, over 7%. ING later came out with a mortgage product. We signed up. Long story short, 5 years later, we try to take advantage of their simple "$750" rate renewal, and we are told the cost to renew the rate increased to one months mortgage! For us, that's about a 4.5x factor. I used to love ING and their products, considered them innovative, even cutting edge. Unfortunately, my ultimate opinion about them is that they are simply luring in customers with high savings rates, low mortgage rates, the promise of easy/cheap rate renewals, then bait and switch. A few years ago I would have violently disagreed with your article, but I believe you have been proven right. Albert I started doing business with ING Direct shortly after they opened doors. I had a direct, online-only, no frills savings account. I loved the interest rate, over 7%.

ING later came out with a mortgage product. We signed up.

Long story short, 5 years later, we try to take advantage of their simple “$750″ rate renewal, and we are told the cost to renew the rate increased to one months mortgage! For us, that’s about a 4.5x factor.

I used to love ING and their products, considered them innovative, even cutting edge. Unfortunately, my ultimate opinion about them is that they are simply luring in customers with high savings rates, low mortgage rates, the promise of easy/cheap rate renewals, then bait and switch.

A few years ago I would have violently disagreed with your article, but I believe you have been proven right.

Albert

]]> By: chessgames56 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-1/#comment-14258 chessgames56 Sat, 07 Mar 2009 15:53:13 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-14258 Hi all. Be careful of the sharky waters out there, and don't be fooled by a teaser rate. Also, remember that since the prime lending rate is at almost 0% (.25%), any ARM is likely to increase, so it's probably better to get a fixed rate mortgage now. Also, be aware that once you're pre-approved, ING will charge you $350.00 if you back out later. This means that you may be locked into the loan before you get your loan package and understand all the details. My advice is to never initiate any contract under these conditions. Refinancing can be a complicated and stressful process, so it is best to educate yourself before hand, and do not give your credit card number away to acquire a loan or lock in a special rate. Hi all. Be careful of the sharky waters out there, and don’t be fooled by a teaser rate. Also, remember that since the prime lending rate is at almost 0% (.25%), any ARM is likely to increase, so it’s probably better to get a fixed rate mortgage now. Also, be aware that once you’re pre-approved, ING will charge you $350.00 if you back out later. This means that you may be locked into the loan before you get your loan package and understand all the details. My advice is to never initiate any contract under these conditions. Refinancing can be a complicated and stressful process, so it is best to educate yourself before hand, and do not give your credit card number away to acquire a loan or lock in a special rate.

]]> By: Juan Miguel http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-1/#comment-13340 Juan Miguel Wed, 28 Jan 2009 21:16:48 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-13340 John P. If you're investing $30k with any single annuity or company you get the right to demand some pretty solid info on where ur $ is going. Considering your investment timeframe I'd be looking pretty strongly at some gold right now too. You don't know what the Government is going to put in place concerning the banks, wall st, and mortgages. One thing is certain however, our currency will soon be further de-based as trillions upon trillions of new dollars are added to the money supply this year. John P. If you’re investing $30k with any single annuity or company you get the right to demand some pretty solid info on where ur $ is going.
Considering your investment timeframe I’d be looking pretty strongly at some gold right now too. You don’t know what the Government is going to put in place concerning the banks, wall st, and mortgages. One thing is certain however, our currency will soon be further de-based as trillions upon trillions of new dollars are added to the money supply this year.

]]> By: MoneyNing http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-1/#comment-13339 MoneyNing Wed, 28 Jan 2009 21:04:42 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-13339 John: It depends on which annuity you have with them. Give me more details and I may be able to find out for you. John: It depends on which annuity you have with them. Give me more details and I may be able to find out for you.

]]> By: John P.Thomson http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-1/#comment-13337 John P.Thomson Wed, 28 Jan 2009 20:57:07 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-13337 To whom it may concern: Please advise me how I can find out how ING -usa makes ITS investments...I own about $30,000 in a retirement annuity, income comes regularly each month; am retired, age 85; interested in stability and the methods of investment (mortgages, treasury notes, foreign banks, etc.) utilized by ING for its annuity business. Thank you. (any web sites or other sources) To whom it may concern:

Please advise me how I can find out how ING -usa makes ITS investments…I own about $30,000 in a retirement annuity, income comes regularly each month; am retired, age 85; interested in stability and the methods of investment (mortgages, treasury notes, foreign banks, etc.) utilized by ING for its annuity business.
Thank you. (any web sites or other sources)

]]> By: CD Interest Rates http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-1/#comment-8086 CD Interest Rates Mon, 28 Jul 2008 21:19:12 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-8086 Other sites have researched that particular bank and no one I know of has put funds there. Here is a link to review some info and comments on them: http://bankdeals.blogspot.com/2005/10/research-into-millennium-bank-and-775.html Our niche is safe, plain FDIC insured CDs. Other sites have researched that particular bank and no one I know of has put funds there. Here is a link to review some info and comments on them:
http://bankdeals.blogspot.com/2005/10/research-into-millennium-bank-and-775.html

Our niche is safe, plain FDIC insured CDs.

]]> By: Nina http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-1/#comment-8085 Nina Mon, 28 Jul 2008 20:54:07 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-8085 "CD Interest Rates", what do you think about investing in a "foreign bank" where you would not be taxed on your earned interest? http://www.mlnbank.com/EN/about/faq.htm Have you heard of these guys? Their 1 year cd is over 5%, nontaxable. “CD Interest Rates”, what do you think about investing in a “foreign bank” where you would not be taxed on your earned interest? http://www.mlnbank.com/EN/about/faq.htm Have you heard of these guys? Their 1 year cd is over 5%, nontaxable.

]]> By: Nina http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/comment-page-1/#comment-7858 Nina Mon, 21 Jul 2008 01:17:42 +0000 http://moneyning.com/mortgage/disturbing-mortgage-ad-from-ing-direct/#comment-7858 CD Interest Rates, I went to your website above and found 7% interest on 1 year CD at Patelo Bank in SF. Wow, I'll check them out! Thanks! CD Interest Rates, I went to your website above and found 7% interest on 1 year CD at Patelo Bank in SF. Wow, I’ll check them out! Thanks!

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