John Robbins is the Chairman of the Mortgage Bankers Association

“Demystifying Mortgages” Buying a home is one of the largest purchases you’ll ever make. But if you don’t make sure you understand and compare all the mortgage options out there, you could find yourself up a financial creek, and possibly even out of a home. While homeownership is at an all time high in the United States, the number people defaulting on their loans and the number of foreclosures also remains quite high nationwide. It’s extremely important to find a mortgage that’s right for you and your life circumstances and that you understand what you are getting into to avoid any financial hiccups down the road. If you’re a new homebuyer or if you’re considering refinancing your current mortgage you need to know what resources are available and how to use them to simplify the process and decode the financial jargon. He will also talk about what the MBA is doing to help educate consumers via a bilingual website and online guide called The Simple Facts created to demystify the mortgage process. The guide is accompanied by an online Simple Calculator that estimates the monthly payments for a variety of mortgage scenarios. Demystifying Mortgages Do You Have The Right Mortgage for You? Understand and Compare Options Before You Buy Your Home Adjustable-rate, conforming loan, negative amortization, balloon payment: if all of this sounds like home loan vocabulary you should understand but don’t, you aren’t alone. Buying a home is one of the largest purchases you’ll ever make. But if you don’t make sure you understand and compare all the mortgage options out there, you could find yourself up a financial creek, and possibly even out of a home. While homeownership is at an all time high in the United States, the number people defaulting on their loans and the number of foreclosures also remains quite high nationwide. It’s extremely important to find a mortgage that’s right for you and your life circumstances and that you understand what you are getting into to avoid any financial hiccups down the road. If you’re a new homebuyer or if you’re considering refinancing your current mortgage you need to know what resources are available and how to use them to simplify the process and decode the financial jargon. John M. Robbins, CMB, is chairman of the Mortgage Bankers Association and is available to talk about where to find the information you need and how to best use it. He’ll help your listeners make sense of the process, talk about what first time home buyers need to know about mortgages and will have a variety of tips including: Comparing Lenders Understanding Credit Scores Types of Mortgages Various Terms Ģ Learn the terms He will also talk about what the MBA is doing to help educate consumers via a bilingual website and online guide called The Simple Facts created to demystify the mortgage process. The guide is accompanied by an online Simple Calculator that estimates the monthly payments for a variety of mortgage scenarios. About the Talent: John M. Robbins, CMB has been active in the mortgage banking industry since 1972. He is serving his fifth term on MBA’s Board of Directors, has chaired MBA’s Presidents Committee, Legislative Committee and Board of Directors Technology Steering Committee, served on their Investment Committee and served two terms as Chairman of MBAs Membership and Dues Committee. This interview is sponsored by the Mortgage Bankers Association.