Unquestionably, there is progress. The average American now pays out almost as much in taxes as he formerly got in wages.
—H. L. Mencken
Buying homes in America is as American as apple pie. Everyone seems to be getting into the act. In fact, in June 2002, President Bush even proposed broad incentives that would enable more Americans than ever before to purchase their own homes.1
Although everyone dreams of owning his or her own personal “piece of the rock” to call home, there are some stiff expenses involved in buying a home. One big, misunderstood, and often overlooked expense deals with points.
Points, otherwise known as loan origination ...