As we sit and plan for the New Year in 2015, it could be that we are thinking of purchasing a new home in the upcoming spring months. Some calculation and forethought might have to go into the financial aspects of your upcoming plans for a new home.
If you have a mortgage on your own home or looking to acquire a new mortgage for a first-time purchase, it is prudent for you to do your due diligence, and make sure you understand all that is required of you in procuring the services of a mortgage broker, and understanding all the intricacies of the needs and requirements of the lender – whether private or otherwise. This education will ultimately go a long way in making the process much smoother and less stressful.
The lack of knowledge on the part of homeowners or new homeowners can reveal some potential horror stories in the making – leading to much stress; not to mention the loss of time and potentially large sums of money in situations that could have been mitigated had they been carefully assessed and strategically worked through with professionals understanding the homeowner situation thoroughly.
A new book, which offers a great overview and highlights all aspects of the industry, (published out of British Columbia), will be out in the market place in early to mid-spring 2015. The book is called Mortgage Smarts, and it covers all financial, legal and moral aspects of the mortgage and home purchasing business. It delivers practical information and solutions to stories of homeowners who have gone into the process not fully informed. These stories serve to highlight the importance of the intricacies and possible potential problems homeowners might get themselves into. The purchase of a home is a highly personal risk to one’s financial status and ultimate peace of mind.
It is recommended you keep a look out for this valuable resource on mortgages and the industry. It is a great read and one that will educate you, so that you flow into the process fully informed and empowered.