Financial Caffeine Series 1--The Truth About Mortgages

If the banks made the same amount of money on every mortgage loan then truly how many options would we have as borrowers? ONE! But we don't do we. Well, which one benefits the bank the most?

The dilemma with choosing a mortgage is that no matter what type of mortgage you decide on, you will experience major wealth transfers. The solution to reducing these transfers is understanding the opportunities that lie inside the mortgage itself.

By paying cash for your house, you must be of the belief that this is a great investment and you are certain of the rewards. Even the "experts" will try to convince you that this is a wise decision.

When something is "outside the box" then you have two options: you either kick it to the curb. Or you get a bigger box.

If the banks don't have your best interests at heart then have you ever thought about why the bank offers you a lower rate on a 15 year mortgage than a 30 year? This one is fun.

I'm sure you don't pay a tax that you don't have to and you take advantage of every opportunity to minimize your taxes. Could you be missing any?

The banks love to disguise extra payments as "interest saving techniques." It begs the question, a bank, whose sole purpose is to collect interest, telling you how NOT to pay interest? It doesn't make sense.

If the banks made the same amount of money on every mortgage loan then truly how many options would we have as borrowers? ONE! But we don't do we. Well, which one benefits the bank the most?

The dilemma with choosing a mortgage is that no matter what type of mortgage you decide on, you will experience major wealth transfers. The solution to reducing these transfers is understanding the opportunities that lie inside the mortgage itself.

By paying cash for your house, you must be of the belief that this is a great investment and you are certain of the rewards. Even the "experts" will try to convince you that this is a wise decision.