Getting a mortgage loan or refinancing a mortgage loan without a plan for your money is one of the worst decisions that Americans make every day.
The average American has no idea that they are losing more than $1,000,000 for their retirement.
Don't get me wrong. Home loans are an important part of life. But mortgage loans in Nevada can be risky for families who don't get help from a financial advisor.
Nevada mortgages can be dangerous because:
- In Nevada, mortgage lenders only have to fill out a form to get their licence.
You're right! If a consumer fills out a form, anyone who has a heartbeat can give them a mortgage loan. Most mortgage lenders in Nevada turned into mortgage brokers because they heard that the housing market was getting better and they wanted to make a lot of money off of people who didn't know better.
- Private mortgage companies can only offer one or two types of mortgage loans.
Private mortgage companies don't care about what's best for the customer. They will do anything to sell you a mortgage loan, even if it isn't right for you, your lifestyle, or your budget. Because they have contracts with certain loan companies, they can only sell you one or two specific mortgages, and their commission depends on that.
- Desperate mortgage brokers will do anything to make a sale, and I do mean anything.
Many of us hope that the person we're dealing with is honest, but mortgage brokers aren't always as honest as we'd like. Those of us who have ever signed mortgage papers know what a huge pile it can be. Does anyone really read all the fine print? That'd take more than a month! So, a mortgage lender will usually give you a summary of each page so you don't have to read all the small print. What a nice thing to do...or is it? Sometimes, the mortgage market is so tough that mortgage brokers will tell a family one thing, but the fine print will say something else. For example, the mortgage broker might not tell the family that if they refinance their home before 5 years have passed since the first mortgage, they will have to pay a fee equal to three years of payments.
How should a family act?
It's easy to figure out. Get help with your money. A financial planner is a PROFESSIONAL who can not only help you with your mortgage, but also with other parts of your money.
Financial planners in Las Vegas can save your life because:
- They are experts in financial planning, which includes mortgages, so you don't have to worry about their qualifications.
- They aren't bound by contracts with mortgage lending companies, so they can give you hundreds of different mortgage options instead of just one or two like private mortgage companies. THIS COULD GUARANTEE YOU THE LOWEST INTEREST RATE IN NEVADA!
- Financial planners have been doing this for a long time, so you don't have to worry about them being dishonest to make a sale.
- Financial planners can help you pay off your credit card debt and manage your other debts at the same time you get a mortgage. This can save you hundreds of thousands of dollars in the long run.
- Some financial advisers will help you for free!
- Financial planners can show families how to put their savings in an account that earns up to 12% interest and is tax-free forever. THIS CAN HELP FAMILIES RETIRE WITH A MILLION DOLLARS OR MORE IN THE LONG RUN!
- Financial planners do more than just make plans; they also teach. They will teach you everything you need to know about your mortgage loan and any other savings plans so you know what's going on with your money.
