I recently created a video explaining why it is vital to have a professional watching your mortgage for  you. You can view the video below.

In today’s environment there are many changes to the mortgage guidelines that even someone in the business has a hard time keeping up with. As a consumer, you need to be plugged into a professional who will monitor those changes and keep you posted as to how you might be able to take advantage of the mortgage changes.

Let me give you a couple of examples. Just in the last week there has been two changes that are huge for most homeowners who have a mortgage.

The first is the ability to refinance your home up to 105% of the value. For the most part, even though we are at historically low rates, most of us have not been able to take advantage of these rates due the value of our house has dropped. Now that has changed.  There are restrictions to this, but if you do not talk to someone, how are you going to know if this applies to you.

Second, loan limits have been raised to $729,750 in certain areas. Again this is big. Before this change the rates quoted were limited to $417,000 or less. Now the increased limits may have additional fees, but they are still going to be lower than they were prior to this change. This also means that a 30 year fixed rate is a real option for those of you that are above $417,000.

These are just two simple but powerful changes that were made in the last two weeks. My point is, many people put their hard earned dollars with a financial planner, why would you not put your biggest investment in the hands of a loan professional.

Call you lender today, or ask you accountant, financial planner, tax preparer, or Realtor for a recommendation. You need to see if refinancing makes sense and if the new changes apply to you.