* Get an agreement in principle from your favorite mortgage company BEFORE you start house hunting. This helps you establish your price range and makes you a better 'bet' as a buyer in eyes of any sellers you meet.

* Don't just rely on 'realtors' or 'estate agents'. Nowadays, best place to start a property search is web. You can also check local papers and even drive around your preferred area looking for private sales boards.

* Make a checklist of teh essentials you MUST have in your new home. If you need a garage, saya so. If outside space is essential, don't go see and house without it.

* Never go alone - take someone with you even if just a friend. Alone, you might miss something.

Payoff High Interest Credit Card Debt! Lower Your Monthly Payments! Buy A New Car! Refinance And Get Money Now! scream slogans splashed across envelopes.

The promotional letters inside point out how easy it will be for me to “get extra cash you need NOW!” They promise “no out of pocket costs” with a newly refinanced 30-year loan.

Could I use some extra cash NOW? You bet I could! Who needs high interest credit card debt? Not me, no way, no how! Buy a new car? Hmmm, I like that new Pontiac G6 I’ve seen on tv, maybe in a sleek titanium color with black trim?

For thousands of U.S. households “Home Sweet Home” is rapidly being replaced with a new sentiment - “Home Sweet ATM.” According to latest Federal Reserve study, 45% of homeowners who have refinanced their mortgages pulled cash out and 74% wound up lengthening their mortgage by about six years. Only 17% shortened their loan term opting to downsize to a 15-year mortgage.

In a period of six years, Americans have more than doubled amount owed on home equity loans and lines of credit, nearing $766.2 billion, according to Federal Reserve.