"Confused About How Mortgage Works"

Mortgage confuses a lot of people. Faced with an array of decisions, most people don’t know what to do. When is the right time to refinance? Which loan program is best for your particular financial situation? What should you do with your home equity? Should you accelerate your payments to pay off your mortgage earlier? How to protect your assets?

Few professionals have any training in economics, mortgages, personal finances or credit improvement. Yet you are faced with decisions pertaining to these important matters. You know you have to make financial decisions, and you are correct in thinking that a bad move could cost you and your family a considerable amount of money. How can you conquer the field of personal finance and obtain financial security for yourself and your family? How will you retire and live a legacy to your children?

Simply approach the topic of mortgage exactly as you do the field of medicine. After all, you might not be comfortable and accustomed to working with a mortgage planner, but you’ve been to the doctor. Simply approach both the same way.

All you need to do is focus on your symptoms: Where does it hurt? What’s bothering you? What is the cause of your concern? Just tell your trusted advisor and let the advisor respond to your concerns. A trusted advisor will engage in diagnostic efforts: He or she will ask you a few questions and you really will get all your answers. The mortgage planner will then assess your mortgage situation, evaluate the findings, and then prescribe a treatment for your particular situation.

You should see a mortgage advisor even if nothing is bothering you. After all, even healthy people should have an annual physical exam. Just because the patient has no symptoms, doesn’t mean nothing is wrong. Lots of diseases have no symptoms but you can be in serious danger if you don’t treat them. You know this perfectly, and that’s why you visit the doctor so he can see that everything is fine.

On the same basis, visit a mortgage planner and let him assess your situation, even if you think everything is fine financially. Show him your mortgage payment, loan program and he will advice you as to where you stand financially.

The mortgage planner will ask you questions about your income, monthly expenses, debts, savings and assets. He'll find out about your financial goals, how you feel about real estate investment or other possible investments, how much equity is in your home, if you have any liquidity, where you can potentially save money and if you are on track to a secure retirement?

Your answers will enable your mortgage planner to determine what your area of concerns and financial goals are to offer his commendations to you.

If you hesitate delegating such important responsibilities to a Trusted Advisor, well, that’s exactly how you work with your physician, isn’t it? And the best part about this process is that you are the expert as well. You are the expert on your symptoms. You know about your income; you know how much you spend every month; you know how much you save; you know your financial goals area; and you know what’s concerning you. You know where it hurts. And if you are worried that your mortgage broker/banker/loan officer will make bad recommendations, well, that’s what second opinions are for. While there are some people who only talk about interest rates and chase commission paychecks in the mortgage world, they are the exceptions who understand that interest rates are just a small part of the real estate game. Saving money is one thing, but making money is a whole different game that you need to understand and enjoy.

Homeownership is a personal voyage, and your chance of success is greater the more clearly you understand real estate and finances. While there are some people who only talk about interest rates and chase commission paychecks in the mortgage world, they are the exceptions who understand that interest rates are just a small part of the real estate game. Saving money is one thing, but making money is a whole different game that you need to understand and enjoy. Homeownership is a personal voyage, and your chance of success is greater the more clearly you understand real estate and finances.

Do you prefer to discuss about saving $30 per month or retiring 10 years earlier and be debt free?

The average broker competes with other brokers on rates and fees, that's why most consumers are compulsive rate shoppers. In their mind, the only difference between brokers is rate and fees.

Call for your mortgage physical today to talk about more important issues such as personal finances, credit improvement, home equity management, early retirement and financial freedom.

“A human being is happiest and most successful when dedicated to a cause outside his own individual, selfish satisfaction.”

– Benjamin Spock, pediatrician, author

To Your Success,

Andre Plessis

Andre Plessis
The Mortgage Guru
"Andre Plessis is a Mortgage Planner and Author. He helps individuals improve their credit and offer guidance in personal finance. His primary goal is to provide the expertise, guidance and skills necessary to gain financial freedom through real estate and live a debt free lifestyle". 
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P.S. If you are at all intimidated or unsure about the mortgage process if you don’t understand how to evaluate your options in getting a mortgage loan our 24 key questions will help you feel comfortable that you are making the best decisions. Also if you are in the process of refinancing your home with anyone, CALL ME and I will let you know if you are being offered the best loan option based on market conditions and your financial situation.

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