equity repositioning: Rules for Calculating Retirement Income Have Changed - 11/06/06 11:01 AM
In the September issue of Journal of Financial Planning there was a study that illustrated how more Americans at the later stages in life are carrying a home mortgage than was the case in the 80s and 90s.
Here are some of the highlights shown in the report...
For Americans that are in their 50s, the number carrying mortgages rose from 59.2% in 1980 to 68.8% in 2000. Like wise, Americans in their 60s and 70s had similar increase in numbers carrying mortgages, from 34% to 44.6% and from 19.9% to 25.1% respectively. When looking at the number of second mortgages carried … (0 comments)
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equity repositioning: The $25,000 Mistake caused by the "Myth-Conception" of Mortgages - 10/11/06 09:20 PM
Let's take a look at costly misperceptions held by millions of Americans.
Most people believe making extra principal payments on their mortgages saves them money. Most believe mortgage interest is an expense that should be eliminated as soon as possible. Most believe home equity has a rate of return and enhances their net worth. Some homeowners are lured into thinking that bi-weekly payment plans are the answer. Others rely on a 15-year mortgage with higher monthly payments rather than a 30-year term. In actuality, such methods are not the wisest ways to accomplish a "free and clear" home. Through proper mortgage planning, … (40 comments)
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equity repositioning: Florida Mortgage Company Dedicates Portion of Earnings to Clients’ Choice of Charities - 09/27/06 07:56 AM
Solid Rock Mortgage is leading the way in community involvement by giving 10% of its gross compensation to worthy charities and churches. They have gone one step further and allowed their clients to decide which charity receives the portion from their loan.
“I don’t know how many mortgage companies are giving back to their communities, but I do hope more companies will follow what we started”, says Mr. Robert D. Ashby, the company’s President. He goes on to state that since Solid Rock Mortgage is based on Christian values, he prefers to give the money to the clients’ church or … (0 comments)
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