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Certified Mortgage Planning Specialsts may be solution for consumer confusion
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Recently someone commented here that my articles had failed to mention the existence of a CMPS - a Certified Mortgage Planning Specialist. According to the CMPS Institute, a lot of consumers are not aware of these mortgage specialists who have taken additional training beyond the typical mortgage broker or mortgage lender.
The curriculum required to become a CMPS goes beyond the usual training about available loan programs and includes topics more commonly associated with financial planners and tax specialists, such as evaluating your cash flow and managing debt; tax information associated with real estate and mortgages; real estate investment strategies, ethics and financial planning. For instance, a CMPS can evaluate the pros and cons of paying off your mortgage before retiring.
Some consumers may feel they are better served by going directly to a mortgage lender and then working separately with a financial planner and a tax advisor, but working with a CMPS should be considered, too.
According to the CMPS Institute web site, less than 1% of all mortgage professionals have the CMPS designation. From the web site, you can search to find one in your area.
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