Introduction
Mortgages: What You Need to Know
If you already have a mortgage do you need to read this book? That’s a fair question. This book is for:
- People who have a mortgage and feel they need to refinance
- People who have a mortgage and might move, necessitating a new mortgage
- People who have a mortgage and might buy a vacation home in the future, necessitating a mortgage
- People who don’t own a home and hope to buy one some day
- People who have a mortgage and are not sure whether they should refinance
- People who want to learn more about how to manage their mortgage and their finances in general
- Financial advisors wanting to learn more and offer this as a resource to their clients
- Realtors that want to better understand financing as well as to provide a copy to their clients as a resource
- Loan officers looking to grow their advisory role
- Divorce attorneys and their clients who want to better understand a mortgage and their finances
A mortgage is the most important financial decision (and usually the biggest) that most Americans will ever make. The type of mortgage you choose will have a direct impact on when you can retire and with how much. Whether you bought this book because you are contemplating buying your first house or you are a seasoned real estate investor you will walk away with knowledge that you can start to use right away.
My inspiration to write this came from my clients as well as the financial planners, certified public accountants and attorneys with whom I work. I have found over the years that although most people know what a mortgage is, they do not really know the different types, and how they work. Moreover, once the mortgage is taken out, it is important to have the necessary knowledge as to the steps needed to improve both your short- and long-term financial outlook.
The ultimate goal of this book is to educate you, the consumer, so when it comes time to choose a mortgage you will be empowered to make the right choice and to take responsibility for your actions. Especially in light of today’s headlines, consumers need to be aware of the different types of mortgages. More importantly, consumers should be aware of the right questions to ask the mortgage broker or banker. Don’t just follow what the talking heads on TV recommend.
I will uncover the common mistakes people make with mortgages and explain how different programs affect you. Mortgages: What You Need to Know takes a complicated subject and breaks it down into easy to understand chapters that build upon each other. I am confident that once you have finished reading this book you will have a better understanding of mortgages and how they can help you take control of your financial future. Enjoy!
