So, you want to get a mortgage...

So, you want to get a mortgage and you are a first time buyer. I am sure that everyone and their brother is giving you advice on what to do and what to expect.
Perhaps you are a seasoned home owner and are looking to refinance or buy a new or different property and remember all what you went through the last time

Well.....forget anything that anyone is telling you and forget what it was like the last time as the mortgage world has changed and is continuing to change!

First off, no 2 loan situation are alike so whatever one person goes through will not be the same as someone else. This can be affected by a variety of things including but not limited to; credit, debt, income, assets, job history and more.

Next the industry has changed so much that what a consumer may have done 3 months or even 3 years ago will be different today and even more different tomorrow. The landscape of mortgage lending has and is changing continuously and where it is headed is any ones guess.

Now toss in a few new things like HVCC which is how appraisals are handled or the new disclosure requirements and you add even more confusion and frustration for everyone. The key here for the consumer is dealing with someone that will actually explain to you what to expect or what is happening as you are going through the mortgage process.

Getting a mortgage these days is like getting a physical. Hopefully your loan officer explains everything to you as to the reasoning and expectations so that there are no surprises and you come out with a clean approval.

It is very important to ask questions if you don't understand what is happening, being told to you or given to you to read. No question is a dumb question and you have the right to have the answers you need as you are paying for the service.

For those that have not seen this yet...here is a link to potentially get your new year off on the right foot;
http://education.yahoo.net/articles/find_work-life_balance.htm?kid=1C2S5

How many of you have already failed at your resolutions for the new year?

Make sure that from a fitness standpoint that you make sure you are financially fit as well. If you have a mortgage...make sure it is the right one for you.

Last night I heard my youngest daughter ask her older sister if she wanted to watch The Notebook tonight together...and the older sister said no. The funny thing is by this time next year she will probably say yes as she will have been away to college and will actually miss her little sister. Our son was the same way and I see him so much more appreciative of his sisters when he is home from college then he was before. Don't let what you can do today slip you by as you may not have that chance again.