Wednesday, January 21, 2009

A few things to remember about mortgages

This is a video produced by some of my favorite explainers--Common Craft. The company recently moved away from Web 2.0 focused videos and branched into topics like finance and politics. 

If you've never gotten a loan or are thinking of buying a home for the first time, this is a great primer for how loans work. I especially liked the video's point about asking questions about prepayment and other penalties--something many people forget. Never be afraid to ask questions if you don't understand what your mortgage or real estate professional is telling you. Better to feel stupid than to lose money because you didn't ask!


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