Ahoy Homeowners! I like many Americans, want to get better loan terms on my mortgage yes I know who doesn't? Make no mistake though, the banks are experts at making themselves and their investors money. Get past that fact and you are half way home. Banks once drunk with power and greed made a nice living from the ignorant bliss that buyers and homeowners in recent years afforded them. But now with the adjustable rate and negative amortization loans once seemingly affordable, attractive and inexpensive are coming due and their rates ever increasing. 

The loan officer who recommended you cash out equity and pay off the car, your student loans and take a world vacation was a fool, but no more than the homeowner for listening to them. Your home is not a vending machine to cash out and make foolish purchases with, it is an instrument to be used and handled like a chess piece. Try and refinance with a hungry bank these days and you are practically walking into a pit fight to the death.

Is this a doom and gloom blog? No absolutely not. Real estate is still a great investment and always will be but you better be darn sure of what you are buying or refinancing and even more sure of what your lender can do for you but more importantly, to you.

Have someone who knows what they are doing explain those terms to you prior to signing any loan documents. Loans are not complicated but make no mistake once you-have signed, it's done. Finance is the last form of legal discrimination available in this world and believe me, they are experts at getting your money. Be prepared by surrounding your self with people that are dedicated to serving your best interests.

Like it or not we all need things and people in our lives if you wish to succeed, a great Doctor, a Lawyer with a Napoleonic complex who is fearless and has a BS in B.S. An insurance agent who knows what they are doing and yes you guessed it, a REALTOR who lives and breathes homes and mortgages. Follow mine and their advice and you can and will successfully navigate these treacherous pirate infested waters with confidence and skill.