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It could be a viable alternative to a reverse mortgage, a product that allows seniors to retrieve the equity from their homes. While the reverse mortgage is available only to people age 62 or older, the Home Accelerator can be used by anyone at any age.

Accelerator interest rates are higher than reverse mortgages, but the latter tacks on private mortgage insurance. And the interest on a reverse mortgage is not tax-deductible.

You probably can get more money from your home through the Accelerator program, but this is not a government-backed program, as reverse mortgages are. If you take out too much money in the Accelerator program, you could get into serious financial trouble.

It's also an excellent program for people who carry large cash balances in their checking accounts. By that, I mean at least $40,000.

That's a lot of money for most people, but considering that financial experts say you should have enough cash available to pay for three to six months of living expenses, it's not necessarily outrageous.

And the program can be a huge winner for entrepreneurs or small-business owners who frequently deposit large sums of money into their bank accounts until business bills are paid. Directing those funds into an Accelerator account instead could put a huge dent in interest charged on the mortgage.

Finally, wealthy people with relatively small mortgages will come out ahead as well, mainly because they can afford to put large chunks of money into the Accelerator bank account.

Financial products are getting so incredibly complex, it's difficult for most people to keep up with them. When it comes to mortgage products, you need to be particularly cautious.

You probably spend some time weekly or at least monthly looking at your personal finances. But how often do you review mortgage products?

If you don't spend a lot of time researching mortgage products before you buy a house, you could end up in some serious financial trouble.