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certified mortgage planning specialist: Are America's Housing ATMs All Tapped Out? - 04/30/07 02:44 PM
Today saw the release of the US Savings rate, which improved from the last reports. It is still in negative territory at -.8%, but is up from -1.2%.
I know, many of you probably don't follow this number, and some may not even know what it means. Basically, its interpretation is that Americans continue to spend more money than they make, hence the negative number. It does leave out some information such as house appreciation (or depreciation).
What it means to us in the real estate market, especially those doing mortgages, is that there is still a major need for Americans to … (3 comments)
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certified mortgage planning specialist: Finding Solutions is What It's All About - 04/24/07 10:43 AM
As I went back to flying, I started thinking of whether or not I should continue doing mortgages or focus solely on flying. I came to the intitial conclusion that maybe I should just close up the origination side of the business and simply offer to speaking and educational events only as my time is very limited.
Then I reminded myself of why I got into the mortgage business to begin with. It isn't about making money, I can do that many different ways. It isn't even that I like doing mortgages and in all honesty, I don't like originating loans much. … (6 comments)
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certified mortgage planning specialist: Money Merge Accounts: Are They Really the Best Thing for You? - 02/21/07 09:37 AM
This revolutionary product is a good product for some, but the reality is that it may prove more costly to you over time.
Money Merge Accounts, or whatever else companies would like to call them, are good loan products for certain families. However, if you are a disciplined family and want increased safety and rate of return for the long run, these products will ultimately cost you considerably over time. A family who came to me to ask about these programs and if it was best for them ultimately realized they could do better.
This particular family is what I would call the … (144 comments)
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certified mortgage planning specialist: Americans Just Can't Stop Spending - 02/01/07 12:39 PM
This morning, an inflationary telling report came out called the Core Personal Consumption Expenditure (PCE) Index. This report is one of the large contributors to determing the Fed Funds Rate movement and it came in at 2.2%, just higher that the 2% the Feds like. Nothing to worry about by itself as it showed more moderation of inflationary pressures.
The problem is another part of the report which measures the spending habits of Americans, called the personal savings rate. This number came out in the "scary" range at a rate of negative 1.0%. WHy is that scary? It is the lowest rate … (27 comments)
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certified mortgage planning specialist: Which is the Safer Investment - Home Equity or Burying Your Money in the Backyard? - 01/28/07 07:07 PM
Your first reaction to this title is what the heck is he comparing these two for, it is clearly home equity, right? Well, let's take a closer look at these two "investments". In order to do this, we have to understand the three areas that determine a good investment...liquidity, safety, and rate of return.
Let's start off with the rate of return. Obviously, if you bury your money in a tin can in the backyard, you will not have a positive rate of return on the money. In fact, you will lose money due to inflation. Home equity is the same way, … (9 comments)
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certified mortgage planning specialist: How to Get a Tax Deduction on Your Roth IRA - 12/15/06 11:21 PM
OK, many of you have heard my response when people start talking about out of the box thinking. In case you don't remember, my response was that I like to think out of the box, but sometimes I like to blow the box up. This is an example of me blowing the box up...(this is my press release and is copyrighted by me and may not be reproduced without my permission)
Could there be a better way to fund a Roth IRA account? There is a better solution and most Americans would never even think of it.
"If you have enough equity in … (17 comments)
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certified mortgage planning specialist: Welcome to the Mortgage Planning Strategies Group! - 11/28/06 10:21 PM
Hello and welcome to the Mortgage Planning Strategies group. This group is designed for posting mortgage strategies and information related to mortgage strategies (ie. tax deductability). As you can see, I have gone through some of my old posts and added them to the group already. Please use them as examples of what posts will be allowed.
Please post accordingly and feel free to contact me if you have any questions about any of the strategies posted or about the group in general.
If you are a consumer, please read the posts here with an open mind, but also remember that there … (0 comments)
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certified mortgage planning specialist: Make $1.3M Without Spending an Extra Penny! - 10/19/06 09:24 PM
OK, chances are by now that you know I think outside the box. After seeing the comments (many thanks to those of you who did comment) it seemed to me that you all hungered for more examples of how the proper integration of your mortgage into your financial plan can put your financial plan on steroids. Here is an example of another actual client and the plan they are following now that doesn't cause them to change their budget by even one cent!
Bear with me as I try to show this and I still don't know how to input a table...
Current … (6 comments)
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certified mortgage planning specialist: Mortgage Planning Case Study - 5 Year Interest Only Refi Every 5 Years - 10/09/06 09:22 PM
This is the third and final scenario that I presented to one of my clients and is the last of three posts on this topic for educational purposes.
As with the previous posts (2 others on the exact same client), I will review the power behind seeking professional guidance when it comes to your mortgage and not just "rate shopping." Please keep an open mind when you look at this and understand exactly what is happening before you make comments. I know many of you may not agree with this, especially with all of the bad publicity interest only loans have gotten and … (0 comments)
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certified mortgage planning specialist: Mortgage Planning Case Study - Refinance every 5 years (pay Option ARM) - 10/08/06 10:11 PM
This is the second in a series of three scenarios related to one of my actual clients.
As with the previous post and the next (3 on the exact same client), I will review the power behind seeking professional guidance when it comes to your mortgage and not just "rate shopping." Please keep an open mind when you look at this and understand exactly what is happening before you make comments. I know many of you may not agree with this, especially with all of the bad publicity interest only loans have gotten and the way the media has wrought fear about … (4 comments)
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certified mortgage planning specialist: Mortgage Planning Case Study - Single Equity Out Refinance - 10/07/06 06:17 PM
I wanted to share a little about the power of properly integrating your mortgage into your overall financial plan. I mentioned in a previous blog post that financial planners, like Suze Orman may be giving bad advice, advice costing those who implement their advice a lot of money over time.
In this post and several postings to come (3 on the exact same client), I will review the power behind seeking professional guidance when it comes to your mortgage and not just "rate shopping." Please keep an open mind when you look at this and understand exactly what is happening before you make … (0 comments)
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certified mortgage planning specialist: Are Financial Planners Giving Erroneous Advice? - 10/04/06 09:08 PM
PEMBROKE PINES, FL – In an article titled “Five More Mistakes to Avoid,” Suze Orman, the “guru” of personal finance, claims that “not paying off your mortgage early” is a “dumb move.” Following this guidance may actually be the exact opposite of what you should be doing!
Ms. Orman bases the fact on a survey by Allianz Life Insurance Company which showed 46% of woman respondents stated the prospect of becoming a “bag lady” weighs heavily on them. When you factor in all aspects of retirement planning, including liquidity, the chances of becoming a “bag lady” these days may in fact be … (4 comments)
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certified mortgage planning specialist: Can a Mortgage Actually Save Your Life? - 09/27/06 08:11 AM
Almost everyone has savings in the bank, right? Well, the data from the Bureau of Economic Analysis (BEA) shows that despite our personal income increasing, our personal savings has decreased .2 percent during the months of October and November of 2005. That was even before the Christmas season.
What does this data mean? It means that on average, the typical American family is spending more than it earns. That amounts to increased use of credit cards or reducing our savings accounts. Ultimately, we are heading down the path of destruction.
Did you know that financial planners and those books you read … (2 comments)
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certified mortgage planning specialist: Robert D. Ashby Earns Certified Mortgage Planning Specialist (CMPS) Designation. - 09/25/06 10:18 PM
Robert D. Ashby, a mortgage broker with Solid Rock Mortgage, has passed the qualifying exams to earn the Certified Mortgage Planning Specialist (CMPS) Designation granted by the CMPS Institute, Ann Arbor, Michigan, a training and certifying organization created to help mortgage professionals integrate financial planning concepts into the mortgage process. He became the first CMPS that was located in the state of Florida. CMPS designees can offer clients strategies that encompass mortgages, debt, home equity and real estate investment.
“My focus is to help my mortgage clients build and protect wealth by better managing their home equity and personal cash flow,” says … (0 comments)
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certified mortgage planning specialist: Don’t Pay Off That Mortgage, It Could Be the Biggest Mistake! - 09/25/06 10:13 PM
Paying additional principal toward your mortgage, or even getting a bi-weekly mortgage program, could be detrimental to your financial health?
That’s right. In most cases, instead of paying extra principal, there may be a better way to pay that mortgage off and experience financial freedom faster. “The truth is, you may never want to pay off your mortgage,” says Robert D. Ashby, President of Solid Rock Mortgage Corporation.
Mr. Ashby continues, “Why? Your home’s equity is not a safe investment. Equity has no rate of return and has no liquidity. You cannot access your equity without qualifying for a mortgage of … (0 comments)
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Robert D. Ashby
Miramar,
FL
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Address: 11758 SW 26th CT, Miramar, FL, 33025
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