Getting Advice From Your Neighbors

The article today in the  Sun-Sentinel titled The Dangers of Seeking Foreclosure Advice From The Neighbors should include anything financial related.  Every person is different when it comes to their finances so no one should generalize. 

All too often someone seeking a mortgage will reference that their friend or someone else got such and such and they can’t figure out why what they are being offered is different.  It’s because there is no transaction that is the same when it comes to getting a mortgage.  There are 26 items that can affect just an interest rate and that’s only one part of the transaction. 

Also, just because you read something online doesn’t make it true either.  There is so much misinformation out there.  Mark Twain said “if you don’t read the newspaper you are uninformed and if you do read the newspaper you are misinformed.”  Consult a mortgage professional you can trust.