Are no closing costs refinance for real?  Actually, this is some what of a deceptive
practice as there are always front end and back end costs to any mortgage
loan.  Many times, mortgage brokers will
state that there are no closing costs but in reality, they are adding their
fees to the back-end of the loan by increasing the interest rate on your
mortgage.  Be very weary when you are
dealing with a broker as these no cost loans are quite deceptive and you might
actually be paying more on your loan than you would if you decided to go with a
dealer that offered you a lower mortgage rate. 
A no-cost loan usually means that there is no closing fees on your part
and that the company will only charge you a flat fee in order for you sign the
papers and get into a new home.  These
tricks are awful as the average user does not know that they are being duped by
getting into a high interest loan.