As a mortgage professional, I get to review detailed financials when someone is looking to buy or refinance a home via their loan application. Sometimes people are using every cent they can or are maxing out their monthly cash flow in order to have a home. I often have people who come to me because they need help restructuring their high-interest credit card debts. And I also help people who are well established. Personally, I would like to see more people on a path to financial security.
Here are a few suggestions for your consideration… not necessarily in this exact order and your plan may vary depending on your financial situation or goals. [Read more…]
On my recent post, Comparing 15 and 20 Year Fixed Rates, a reader asks how do I decide which program is best for my clients? The short answer is: I don’t. The decision of what type of mortgage to select is up to my client (assuming they qualify for the shorter term mortgage with the higher payment, of course). I feel it is my duty to help my clients understand the mortgage programs, so they can make an educated decision and to provide them with various scenarios to consider. 
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