How many of us could benefit from knowing a lot more about mortgages than we currently do? It seems like the credit crisis and the problems in the housing market have made us all more aware of how little we know, or think we know, about mortgages. Well there is good news; Dave Muti is here to help.

Dave Muti is a former real estate attorney, with 17 years of experience in the real estate industry. He is currently a mortgage planner, and has a new book out called Mortgages: What You Need to Know, Strategies to Take Control of Your Financial Future. He wrote the book as a culmination of everything he has seen and learned over nearly the past two decades, to better inform people of the options that are out there, and to help people avoid the most common mistakes that will land you in deep financial trouble.

Top 3 Mistakes People Make:

1. Buying a house beyond their means. Too many people follow the “keeping up with the Joneses” mentality. They want the biggest and the best that they can afford. But the truth is, people think that they can afford a lot more than they’ve got. They don’t plan for the future and they wind up living in a house that they can’t pay for.

2. Waiting to the last minute to apply for a mortgage. This leaves people with no time to shop around or compare financing plans. They are usually forced into a bad package that is not right for them and leaves them struggling to make the payments down the road. In addition, credit issues often pop up that could have been corrected had they met with a mortgage planner months before they began looking for a home. This mistake can cost thousands over the life of the mortgage.

3. Getting a 30-year fixed rate mortgage because it’s the most common. Everyone pitches a 30-year fixed rate mortgage. However, it is not the right mortgage type for the majority of people buying a home. It is up to people to do the homework, ask themselves the seven key questions and learn what type of mortgage is really right for them.

This book is a good reference for people of all walks of life. It is a detailed introduction for someone in just starting out in real estate. It is a good refresher, with clearer explanations, for those already involved in real estate. And it is an excellent resource for the average person who has a mortgage, or is looking to get a mortgage as well as the financial advisor looking to learn a few more pointers.

As the credit crisis continues in the US, financing is going to be difficult to get for many people who used to be able to get a mortgage without a lot of problems. So it is more important than ever to know what to look for, and how to shop around for the best mortgage for your individual situation.