This weekend I watched what has to be the most eye opening movie about the financial crisis that has ever been made. The movie is the Oscar winning, Inside Job. It explains in detail who, what and when the entire real estate market melted down and who made the big money from the entire mess and walked away from it.
I was lucky that during the time from 2008 till the present we did not have any mortgage loans. The last time we had a loan on our home was in 2004 when we sold the house and moved to where we are now - mortgage free. Yes investing in real estate does work, but only if you pay off the damn loans on it. You will never get ahead if you owe someone.
When we did have a loan on our second home we went through a loan broker who was able to find us the best deals and lowest rates. Do I suggest you go through a broker? Not at all, if you can find a loan through a bank that works for you then use a bank. Of course watch that movie first so you know where your mortgage note will end up. I prefer smaller local banks, credit unions and private lenders. If you are curious about your current loan versus another loan then try the online loan calculators at this mortgage broker Calgary. Keep in mind they are in Canada so interest rates that they advertise will be different than here in the USA.
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