The economic realities of the past few years have taught people some valuable lessons. One of which is: It's not what you make, it's what you keep, that counts.

If you discovered that someone was stealing from you, how quickly would you act to stop them from doing it again? Would you act today, in a week, a month, or not at all? The odds are you would act sooner rather than later.

So here's a question for you to consider. Is your current loan stealing money from you? Recent estimates in the news have indicated anywhere from 30-50% of people could benefit from refinancing and lowering their interest rate and/or monthly payments on their home loan. According to multiple sources, home loan rates dropped to their lowest levels ever reported on July 1.

This month, YOU Magazine turns to contributing editor and national mortgage expert, Jim Sahnger, for a different perspective on why people should think more about acting now to save money. Read on as Jim shares a personal story about this important topic.

How Much is Too Much?
Last summer, I was reviewing one of my online bank accounts and was a little perplexed. Not only was my balance lower than I expected, but many of the charges just didn't seem to register in my mind with anything I had purchased. At first glance, I saw that a few hundred dollars had been taken from my account.

Yep, you guessed it. Someone had gained access to my debit card information and went on a little spending spree. The first thing I did was check to see if I had lost the card but I still had it. The card was right in my money clip where it always was. I'm still not sure where or how the information was swiped.

Before even totaling the amount of the theft, though, I immediately called the bank and moved to have the account closed and the card shut off to eliminate any potential further loss. To say the least, I was mad and nothing was going to stop me from putting into place an immediate plan of action to keep what was mine.

When I finally discovered that someone had been popping my account for money, the toll was north of $2,000 even though I had only immediately recognized a few hundred dollars missing. In contrast to some stories, the thief did not run out and buy large ticket items. Instead, the thief tapped the account on multiple occasions, typically in amounts smaller than $100, apparently not to set off any alarms.

The scheme worked. The hits occurred over a 7-10 day period and actually funded what appeared to be a little road trip from South Florida to Maryland, covering fuel, meals and other things.

In many ways, I suppose you could say I was lucky. First and foremost, my bank made me whole. It took over a week but I was able to recover what was stolen from my account. Don't get me wrong, I was still out nearly 15-20 hours of time, but I did not bounce any checks, face embarrassing denials at cash registers, or any other potential issues from this.

But my eyes were opened to something. When someone steals from you, self-preservation kicks in and you act quickly to stop it. Procrastination is tossed aside and unless you have something that you simply cannot miss, you will drop most anything on your schedule to deal with the issue at hand.

Save It or Lose It. It's Still Your Wallet Getting Lighter
Whether you are overpaying several thousand dollars a year for something or someone swipes cash from your wallet, the end result is the same. You are still out of the money.

The difference is that when someone reaches into your wallet, you experience and recognize the loss right away and consequently will react to stop it. But when you are overpaying for your mortgage, you are already in the habit of signing the check each month. To save money, you have to recognize that a change will put money into your pocket.

Regardless of when you last obtained a mortgage, the odds are you could put more money in your pocket, either today or over time.

On a $300,000 mortgage, a payment savings of $224 a month returns a savings of nearly $20,000 over five years and over $42,000 at 10 years when that difference is invested back into the loan. This is a lot of money and the savings differences are for loans involving a rate of 5.875% compared to 4.75%.

Act Now. How Much Money Are You Losing?
You never know what lies in wait until you investigate your options. It's possible you could save money in your monthly payment, pay off your loan years ahead of what's currently scheduled, or a combination of the two. You don't want to find out too late that your existing loan has been and will be robbing you of money every month.

Call the professional who supplied you with this month's issue of YOU Magazine to see what you can do to put some money back in your pocket.