| |
financial advice: Should Mortgage Professionals and Real Estate Professionals Give Tax Advice, or Any Other Advice for That Matter? - 07/29/10 04:00 PM
There have been a wide variety of posts on this exact question, the vast majority of them saying that real estate professionals and mortgage professionals should not be giving tax advice, financial advice, or any other type of advice and strictly adhere to only what they should talk about. Many of these professionals do hit on some “advice” topics, of course with the caveat that they should seek a “appropriate professional” for further advice.
One case in point is the recent topic of points and whether or not they are deductible. I am not sure which post started Lenn Harley’s post, … (3 comments)
|
financial advice: Are You Fearing Today's Markets? - 10/10/08 11:09 AM
The "F-bomb" is all over the internet and even being played up by the media today. No, I am not talking about that one, rather the "FEAR" factor. You cannot hardly turn on the TV, radio, or even computer without getting hit by news that the DOW is down over 700 points for the 8th straight day. CNBC, CNN, ABC, CBS, blogs, etc. all are adding to that fear factor and even the so-called financial gurus like Suze Orman are playing off those fears, telling everyone that "cannot sleep at night" to get out of the markets.
And then we wonder … (3 comments)
|
financial advice: Is Your "Lost Home Equity" Working for You? - 09/18/07 11:22 AM
I am sure you are asking yourself, "what the heck is this guy talking about?" Well, if you have been focusing on paying off your mortgage, you probably have no clue. Here is what I am talking about.
You may have missed this stat recently released...US 2Q Homeowner's Equity Falls to 13 Year Low. Surprised? You shouldn't be. With all of the recent gains in real estate over the last several years, many homeowners have rushed to cash in some of that equity. Most, unfortunately, went out and spent it or otherwise failed to receive the benefits of proper utilization of that … (0 comments)
|
financial advice: Equity Harvesting, Money Merge Accounts and the Benefits of Using Both - 08/30/07 12:56 PM
Yes, you heard me right, utilizing both as strategic tools can provide major benefits. I am not talking about using the MMA software per se, but rather the special HELOCS allowing you to use them as a checking account to provide interest cancellation. This strategy is not for everyone, but may provide huge benefits for those who decide to use it.
First off, strat yourself off correctly, lock in your acquisition indebtedness so you stop wasting money. You can do this by utilizing an interest-only loan to stop the "bleeding". Why? Because home equity is not a good investment, so why not … (40 comments)
|
financial advice: You Want to Own Your Own Home, But Do You Own it the Right Way? (Part 2) - 06/11/07 11:38 AM
This is a continuation of You Want to Own Your Own Home, But Do You Own it the Right Way? (Part 1). In the previous post, we compared Smart Stan and Timid Tom and how well their mortgage plans played out. We ended at the five year mark with Stan and Tom laid off and looking for new jobs. Stan had plenty of money to hold out for the best job, while Tom was stressed out since he had no money and was potentially facing foreclosure.
In this part, we are going to change things around a bit. Let's assume that they … (1 comments)
|
financial advice: You Want to Own Your Own Home, But Do You Own it the Right Way? (Part 1) - 06/06/07 10:39 AM
Most Americans think the same way and do not realize the old way of getting a mortgage is the wrong way to get the mortgage. They need to realize that things change and we need to change with them to take full advantage of the opportunities we can receive.
Let's take a look at two individuals that are in the same situation. There names are Stan and Tom. They both currently earn $75,000 per year and have $50,000 in cash. They both go out and buy $250,000 homes. Tom wants to minimize his mortgage, so he uses his $50,000 in savings as … (3 comments)
|
financial advice: 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)
|
financial advice: How to Earn Money by Borrowing at 6.0% and Investing at 4.0% - 04/25/07 02:23 PM
This article is about the benefits of proper mortgage planning and how they can lead you down a path to true financial freedom faster than you thought possible, even faster than an MMA can get you there. The goal is to show you how you may be able to use your mortgage to accelerate your financial and investment plans and grow your wealth more over time.
For starters, and to make calculations simple, we will say you take out a $100,000 mortgage at 6.5% (30 year fixed, fully amortizing) and invest the money in an investment vehicle earning 4%. This scenario is … (21 comments)
|
financial advice: 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)
|
financial advice: Lower Interest Rates Ahead? - 04/24/07 09:23 AM
At 10am EDT this morning, two normally moderate impact reports were released that is currently moving the markets.
Both Existing Home Sales and Consumer Confidence were released this morning and both missed expectations. What does that mean?
Continued weakness in the housing market is apparent based on the Exisitng Home Sales numbers, but further insight will be provided with tomorrow's New Home Sales numbers.
Consumer Confidence is also dropping, indicating that Americans are lowering their expectations of the economy and the future. It is directly correlated to the strength of consumer spending. Lower confidence numbers generally decrease inflationary fears and ultimately drive prices higher … (5 comments)
|
financial advice: Are Exotic Mortgages Really to Blame for Rampant Foreclosures? - 04/16/07 08:30 AM
The media in particular, aided by many so-called "experts" have been laying a lot of the blame on exotic mortgage products such as Option ARMs, Interest-Only mortgages, and even regular ARMs. I have even heard them blame the Feds for raising rates too fast.
Why do they blame the mortgage products? Are they really at fault? Come on people, let's get a grip on reality. The products themselves are not to blame!!!
So who is to blame? That is the real question and it depends on each particular foreclosure. Looking at many foreclosures, there are numerous reasons why the homeowner got there, none … (11 comments)
|
financial advice: 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)
|
financial advice: Even the Wealthy Need Financial and Real Estate Education! - 01/24/07 12:07 PM
I was reviewing an article in the Wall Street Journal and how it highlighted the fact that even the wealthy are heading back to school to learn about how to manage their money. The article highlighted several courses at various colleges and some companies that offer specialized courses. The biggest question that arises is, "How do I know if my advisor is doing any good?"
Well, I cannot speak from a real estate agent perspective, but from a mortgage planner's perspective, this shows the window of opportunity is wide open. If you do not already offer classes, seminars or something of educational … (2 comments)
|
financial advice: Interesting Way to Forecast the Destruction of a Market - 01/09/07 09:13 PM
In the January issue of Money magazine, there was a small little feature which showed the correlation between the movies coming out of Hollywood and the following devestation on the markets portrayed in the movie. While the snippet focused on how hedge funds are going to meet their turmoil soon, it portrayed a very interesting way to forecast problems in any market.
The article showed how back in April 1987, the movie Wall Street started filming. For those of you who do not remember this movie, it portrayed a young stockbroker who was seduced by the wealth and the "get rich quick" … (7 comments)
|
financial advice: Is Your Nest Egg Cracked? - 12/26/06 01:49 PM
When it comes to your retirement nest egg, are you certain that you will have enough. There are a few things that may causecracks in your nest egg that you may not have planned for. Things like rising health care costs, your planned life expectancy and social security (or lack thereof). So what effects are we likely to see? How big of a crack will your nest egg have (and is it already cracking?)
Health care costs are on eof the big areas of concern. Long term care is one of the areas of concern regarding health care. But I am sure you … (2 comments)
|
financial advice: Need Long Term Care? Mortgage Planning May Help - 12/20/06 03:16 PM
About a month ago, an issue of Investment News contained an article discussing the importance of long term care options for clients. According to a study by the American Society on Aging, more than 70% of all Americans reaching age 65 will need long-term care at some point in their lives.
Common health issues that are driving this are heart problems, hip fractures, strokes and alzheimer's disease. These conditions, and others, are likely to place large financial burdens on seniors and their families. Since the majority of people are living longer, there is added financial strains that have not created a large … (5 comments)
|
financial advice: Be Prepared for Tax Season - 12/18/06 09:58 AM
The Kiplinger Tax Letter for Dec. 15 is, as always, chock full of tax information that everyone needs to know. With the year coming to a close, and tax returns arriving in about two weeks or so, it is time to start preparations for the upcoming income tax filings. Even if you are getting a refund, you may not want to rush to submit your return, the reason will be discussed later.
There is a big thing for those with mortgage insurance and a new thing to factor into your mortgage plan, another reason for your annual mortgage check up. Starting in … (2 comments)
|
financial advice: 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)
|
financial advice: How to Receive Your Retirement Money Now, Penalty Free! - 11/27/06 09:04 PM
Now that I am back from my AR rehab experience (which I will blog about later), I decided to start with a post about a little known concept regarding retirement accounts. The information below is for reference, education and added thought only. Seek appropriately qualified individuals for guidance specific to your siuation.
How can you possibly get your money withdrawn from your 401(k), IRA, or other retirement account without paying that dreaded 10% penalty and not wait until your 59 1/2 or older? Well, there is a way. It is called a 72(t) withdrawal and is also known as SEPP.
Where does … (4 comments)
|
financial advice: Millions Now Love Their Mortgage Even Though It Requires Monthly Payments - 11/16/06 09:36 PM
If you had enough money right now to pay off your mortgage, would you? Most Americans would, since that has always been the American Dream. The reality is that following the "old" dream can be detrimental to your financial health. In fact, millions now love their mortgage because it is working for them.
Let's start with the reasons why the goal may be to pay off the mortgage. Many financial advisors/planners and other "experts" advise paying off the mortgage to reduce risk. ThePersonalFinance.com even runs articles advocating this "risk" management, and will lead you to believe that paying off your mortgage and … (12 comments)
|
|
|
|
|
|
Robert D. Ashby
Miramar,
FL
More about me…
Robert Ashby Photography
Address: 11758 SW 26th CT, Miramar, FL, 33025
Office Phone: (954) 674-6864
Email Me
 Listings
Links
Archives
|
;)
;)
;)
