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

---

Bad Credit Mortgage Refinance - Should I, Shouldnt I?

It is a common financial scenario across households in the... Read More

Apply For Home Mortgage Loan Online With Bad Credit - Things To Consider

So, you've found the perfect home. You've already decided where... Read More

2nd Mortgage - Better Than Refinancing

You have probably received refinancing offers in the mail or... Read More

Fixed-To-Adjustable-Rate-Mortgage

What is a Fixed-To-Adjustable Rate Mortgage?This type of mortgage offers... Read More

Refinance Your Mortgage to Rebuild Credit

Refinancing your mortgage is one way to rebuild your credit,... Read More

Reverse Mortgage Maximization

Have your home's appreciation grow twice as fast.For Seniors over... Read More

Remortgage ? When Monthly Mortgage Payments are Touching New Heights

Current economic scene has hinted towards a fall in the... Read More

Home Loans ? Lenders Continue to Offer High-Risk Loans

Home prices in the Untied States continue to soar, and... Read More

Consolidate Your Debt With a Home Equity Loan and Improve Your Credit Score

A home equity loan is a loan based on the... Read More

Composite Credit Report Score Simplifies Mortgage Issues

Do you want a mortgage loan for your new home?... Read More

Getting the Best Homeowner Loan for Your Money

With so many lenders out there, it can be hard... Read More

Refinance Mortgage Rate and Mortgage Rates

Refinance mortgage rate is the best rate available to qualified... Read More

Understand a Real Estate Appraisal

Happy New Year. Make a difference this year. "Pay it... Read More

Choosing The Right Buy-To-Let Mortgage

Buy-to-let took off during the 1990s with the increasing availability... Read More

Preventing Foreclosure Proceedings and Understanding Your Options

Every year over 8 million homeowners are seeking help preventing... Read More

What is a Fixed Rate Mortgage?

As the term implies, with a fixed rate mortgage the... Read More

Doing a California Refinance Online

Californians are passionate people. I know. I have lived in... Read More

Home Loans -- The Hot New Product? The 30-year, Fixed-rate Mortgage

In recent years, the mortgage industry has introduced dozens of... Read More

Home Equity Loan ? Still a Better Idea Than a 401(K) Loan

Anyone who borrows money is always looking for the cheapest... Read More

The Truth behind Pension Mortgages

A pension mortgage may seem lucrative at the first sight.... Read More

No Fee Mortgages Coming Soon

Buying a home, especially for the first time, can be... Read More

The Zero Down 80/20 Mortgage

This is an excellent loan for those that are lacking... Read More

Buying a New Home ? Home Buying Tips

If you in the process of looking for your first... Read More

Tips for First Time Home Buyers

When looking at tips for first time home buyers, you've... Read More

Adjustable Rate Basics

An adjustable rate loan, most simply stated, means that your... Read More

Finding the Online Homeowner Loans You Want

Online homeowner loans have been growing in popularity in recent... Read More

The Truth About Shopping for Mortgage Rates

With so much lender advertising focusing just on rates, you... Read More

Kings Bay Georgia Mortgage Information

When choosing the right mortgage company for your home purchase... Read More

Home Equity Loan Information - How to Use One Wisely

Using a home equity loan to get out of debt... Read More

Refinancing Your Mortgage Can Open Up A Lot Of Options For You And Your Family

It can happen to anyone, the roof is leaking, the... Read More

Stopping Foreclosures

If you as an investor understand the process, you will... Read More

Bad Credit Mortgage Loans Online - How Your FICO Credit Score Can Affect Your Loan Approval

When applying for a mortgage loan when you have a... Read More

The Top 5 Things You Must Know Before Applying for a Mortgage

You've been thinking about buying your own home for quite... Read More