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Home Loan Confusion Continues
Unfortunately, most Americans still do not understand how home
loans work and how to take advantage of the wide array of
programs available. The way I see it, people are still confused
about mortgages in general and real estate finance, in
particular.
Just last week, a friend of mine told me he was buying a
house. He was pre-approved for a loan, he said, and I was very
happy for him. You see, he is young, just 25, and he is embarking
on the American Dream of home ownership. So, I asked him about
the type of mortgage he was getting. He said, "I don't know. I
was just approved, and I haven't even signed any papers,
yet."
He did have the house picked out, though. Although it is all
too typical of a response, I found myself still surprised that my
friend didn't know anything about the loan he was being
pre-approved for. As another acquaintance recently pointed out,
the right loan program can make hundreds of dollars of difference
in your monthly payment. This person will save $6,048 this year
using an adjustable rate mortgage over that pesky fixed rate that
so many people desire.
For some reason, home loan confusion continues to run rampant
in America. Most likely because the average American is ignorant
of how mortgages work. This is not an attack on American's
intelligence. It's okay to be ignorant; it is not, however, okay
to remain that way, when you know you are entering a complex
financial transaction.
Avoid this problem. Educate yourself. Learn all you need to
know about real estate finance with the wealth-building system,
Winning the Mortgage Game.
Mark Barnes is an investment real estate and real estate
finance expert. Get his free mortgage finance course at
http://www.winningthemortgagegame.com
and also learn how to gain financial independence through proper
real estate investment strategies. Mark is also the author of the
new novel, The League, a shocking, sports-related conspiracy.
Learn more about his suspense thriller at http://www.sportsnovels.com
 MORE RESOURCES updated Thu. February / 09 / 2012
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Home equity loans are often touted as being the solution to
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Finding The Best Home Mortgage Lender
Most people approach the act of getting a home mortgage
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How To Save Thousands in
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So you have a mortgage on your home or planning to get one?
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Should You Get a Home
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It's very important, and in my opinion, mandatory to have a
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What is a Fixed-To-Adjustable Rate Mortgage? This type of
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Refinance After
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Refinancing your mortgage after bankruptcy is actually the
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