Unfortunately, most Americans still do not understand how home loans work and how to take advantage of the wide array of programs available. The way I see it, people are still confused about mortgages in general and real estate finance, in particular.Just last week, a friend of mine told me he was buying a house. He was pre-approved for a loan, he said, and I was very happy for him. You see, he is young, just 25, and he is embarking on the American Dream of home ownership. So, I asked him abou.