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Pre-pay Your Mortgage Early – a Wise Thing to Do?

Taking callers questions on this touchy topic

What this recession is clearly telling us, is traditional retirement and financial planning methods have gone bad.  For instance, have you been told that the best way to become debt-free is to send additional payments to your mortgage company?

Millions of American homeowners have followed this path, then lost their jobs or faced a change in health, spent all their emergency cash and charged up credit cards…then lost their homes.

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4 Insights to Keep You Ahead of Financial Disaster

4 Insights to Keep You Ahead of Financial Disaster

With our country being affected by so many factors, how do we keep the integrity of our financial home intact?  It seems as if the financial system on which we have been led to believe has buckled and crumbled beneath us.  All the traditional forms of savings and earning a living have shown their weakness.  Can you still do something about it?  Absolutely.

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Paying Off Your Mortgage is a Mistake

April 28, 2009 Mortgage Planning 3 Comments
Paying Off Your Mortgage is a Mistake

If you are even thinking about paying off your mortgage, think again. Why is the Federal Reserve Bank of Chicago reporting that Americans are making the “wrong choice” when it comes to pre-paying their mortgage and saving for their retirement? Find out EXACTLY why and how you can empower your financial future. Live event and financial workshop April 22, 2008, 7 p.m., Oakbrook, IL.


Many people today are feeling more isolated, confused and powerless as they are bombarded with negative news about our country and economy

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Why is it a Great Time to Refinance?

We’ve hit the biggest week-to-week drop in 30 yr. fixed mortgage interest rates since 1981 and lowest interest rate environment over the last 40 years! Although people may feel that these rates may continue to drop, today, this is one of THE LOWEST interest rate environments EVER! A very profitable environment right now for many qualified homeowners.

I would caution though, due to the massive layoffs and job cuts of the mortgage industry, lenders, brokers and loan officers are inundated with stacks of applications and limited man-power to process and approve the loans.

If you want to put time on your side, don’t lose upcoming critical business days to process your loan. Get the ball rolling and mortgage professionals can still guide you along by “FLOATING the RATE”. In others words, get your application submitted, get your home appraised, mortgage underwritten and approved. Once all this is done, THEN you can lock your interest rate.

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Why Are Banks Altering Loan Terms?

They want to be proactive in heading off foreclosures!  It is getting more and more costly for banks…

Banks are REDUCING their losses; their greatest assets are liabilities NOT acquiring real estate. Legal fees for a bank, per mortgage on a home, can easily be thousands of dollars! Plus, the costs of a bank to hold onto the property, they become responsible for potential violations of city, health and landlord codes. It’s reported that there are 1.5 million of foreclosures that are happening. Average foreclosure is about $10,000 in legal fees. Do the math, that’s over $15B alone in LEGAL FEES! Banks are getting slammed! Plus it creates a domino effect…you’ve got all kinds of losses from investors and interest, property up-keep and repairs…BANKS are responsible for that!

How would someone get this done?

Contact your lender, they’ll most likely send you to someone in the loss-mitigation department, they’ll help you w/ paperwork; many banks actually have service centers JUST to help you with this.

Now, if you’re NOT FACING FORECLOSURE and have a high credit score, you need to contact an independent mortgage planner that will help YOU control the equity in your home, NOT THE BANKS so you have greater financial security!

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