Financing secrets revealed

Book Review: 'Mortgage Confidential'

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The phrase "knowledge is power" was long ago taken way beyond its logical extreme. Fact is, when it comes to matters of money and, specifically, mortgage, too much knowledge for its own sake can be overwhelming and impair decision-making, rather than empowering wise decisions.

My experience has been that homeowners who spend too much of their mortgage education bandwidth trying to understand the complexities and inner workings of the wholesale mortgage securities market are inspired to pay the bankers back for their sinister dealings and rage against the Wall Street machine.

On the other extreme, there are some key, oft-ignored need-to-knows that can and do empower homebuyers and homeowners to make strategic and smart mortgage decisions.