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florida mortgage planner: Will the Federal Reserve Pay You to Borrow Money? - 04/29/09 06:05 AM
As strange as that sounds, many moons ago I mentioned that the Fed, led by Ben Bernanke, would love nothing more than to pay people to borrow money and a study released yesterday proves I was right. The fact is that Big Ben wants inflation so bad that he would be willing to pay others to borrow money if he could actually do that.
The study that was released yesterday morning stated that the Federal Open Market Committee (FOMC) was presented with the suggestion that the optimal interest rate would be –5%. That’s right, supposedly the best interest rate would be … (6 comments)
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florida mortgage planner: Just How Hard Is It to Make Money? - 06/06/08 04:35 PM
You know I am an advocate of investing versus paying off your mortgage, at least until you have your entire financial and investment plans fulfilled. You know that the reasons come down to liquidity, safety and rate of return, the latter being the point I am going to target today.
Most Americans, and especially those falling prey to the glamour of a paid off mortgage through mortgage acceleration programs such as the Money Merge AccountTM from United First Financial, do not realize the true cost of their financial decisions. They fail to realize that Everything is 100% Financed!!! Yes, even when … (4 comments)
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florida mortgage planner: Florida Mortgage Market Update - 05/17/07 10:39 AM
We remain in a LOCKING stance. Mortgage Bonds = -16bp
Mortgage bonds traded flat yesterday in the absence of any major economic news. Today shows a different picture.
As we informed you that the 200-day MA failed to maintain support and keep bond pricing above this critical level, price erosion was likely to occur and we are seeing just that.
Initial Jobless Claims came out today lower than expectations, which shows a tightening labor market. While you may think that is good news, it is actually bad news for bonds as the fear of increased wage-based inflationary pressures do not bode well for the … (4 comments)
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florida mortgage planner: With Foreclosures on the Rise, Is Your Home Really Safe? - 05/15/07 10:20 AM
Well, if you are paying your monthly mortgage payments, your home is safe, for now. Unfortunately, many home buyers have the misconception that paying down their mortgage quickly is the best method of reducing risk of foreclosure on their homes. That's right, even the Money Merge Accounts (MMAs) and other Mortgage Acceleration programs fall into this category.
You see, many people who scrape up every bit of extra money they can to apply against principal often find themselves with no liquidity. Having an ALOC, HELOC or other mortgage product can help, but they can also be expensive.
When tough times come, and they … (11 comments)
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florida mortgage planner: Welcome to Sunny Florida... - 05/09/07 08:49 PM
Florida has been called the Sunshine State and for very good reason. We have a lot of days filled with sunshine, but we also have a lot of days filled with rain. In case you don't know where we are, we are the state covered by the swirling clouds.
On top of being the sunny state and rainy state, if memory serves me correctly, we lead the nation in tornadoes on a per state basis as well, not to mention hurricanes. We also get our share of wildfires, especially when we have droughts like the current one. We don't get many earthquakes, … (9 comments)
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florida mortgage planner: Are You Trying to Pay Off Your Mortgage Faster? If so, Read This...(Part 2) - 05/09/07 12:17 PM
(If you did not read Part 1, please go back and read it as that is the basis for this post.)
In the last post, we left John without a job the couple was forced to sell their home at a loss to avoid foreclosure. We also mentioned how they regretted their decision.
So, with continued analysis, let's first look at how they could have done better even with a 15-year mortgage and we will assume the couple has no financial difficulties. John and Jane made a decent amount of money and found themselves in the 31% tax bracket and stated they planned … (4 comments)
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florida mortgage planner: Are You Trying to Pay Off Your Mortgage Faster? If so, Read This...(Part 1) - 05/09/07 09:30 AM
Most Americans dream of owning their own home, and owning their home free and clear of a mortgage. While that may be a noble goal, they go about it the wrong way. To assist in emphasizing this fact, we will take a look at a couple who are trying to decide which loan is better for them. Here is their scenario...
John and Jane are in their early thirties and expect to be working for another 30 to 35 years before retiring. Traditionally, most couples in their position would have gone for the 30-year conventional home mortgage. John and Jane, however, have … (5 comments)
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florida mortgage planner: Unique Opportunites Abound - You Just Need to Open Your Eyes - 05/03/07 09:02 AM
Well, most of you know that I returned to flying and I decided to continue my mortgage business. What you may not know is the opportunities it presents to grow my business. Hopefully, you will be able to see some opportunities to grow your business after reading this post.
Building relationships are a key to everyone's success. You need to network and then partner with those who you can build that relationship with. But have you ever thought aout the opportunities you have all around you when you are on vacation or other travel?
This may make you sick, or envious, but don't … (1 comments)
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florida mortgage planner: 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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florida mortgage planner: 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)
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florida mortgage planner: How to Make $125K Tax-Free in Addition to Rental Income - 02/26/07 09:05 AM
If you are an avid real estate investor who likes to keep rental properties for a reasonable period before selling, then there is a way for you to make $125K tax-free over and above the rental income you receive. For this scenario, we will assume you are single simply because those that are married (even though you could double your tax-free income potential) would not want to do what is required.
If you are a real estate investor and single, then you could incorporate a strategy that allows an extra tax-free income, up to $125K annually, in addition to the rental income … (6 comments)
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florida mortgage planner: 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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florida mortgage planner: 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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florida mortgage planner: 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)
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florida mortgage planner: Don't Read This! (Unless You like Money) - 12/06/06 08:51 PM
Many people keep hanging on to the old beliefs about money. The truth is that they don't know how easy it is to make it. I don't mean those "get rich quick" schemes, but making money slowly and safely over time doing what the banks do.
That's right, the banks do the same thing as I describe. Just look at their advertised rates on their products and it will be very clear how they make their money, so why can't you?
In fact, it is so easy to do, the example I am going to use will show you how you can make … (15 comments)
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florida mortgage planner: 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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florida mortgage planner: Interest Rates and Their Effect on Potential Homebuyers - 11/12/06 09:28 PM
When reviewing a survey that was conducted about a year ago, it reminded me of what really drives potential homebuyers to make that home purchase. In light of the fact interest rates may start rising again, what effect would that have on the real estate market during a recovery, or any time for that matter.
The survey, conducted by Lawyers.com, although small in comparison to other surveys, does highlight the reasons potential homebuyers primary motivators are in the purchase of a new home. And believe it or not, at the bottom of the list is what the interest rates are. In fact, interest … (9 comments)
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florida mortgage planner: Planning to Retire a Few Years Later? - 11/10/06 09:08 PM
Most financial planners will lead you to believe that your only hope of being able to retire is to delay your retirement a few years in order to gain full social security benefits. The extra time also allows your 401(k), IRA, or other retirement investments to grow more. They will tell you that it is prudent to pay off your debts, including your mortgage, prior to retirement and extra time helps accomplish this as well. But could there be a better way to retire and possibly avoid extra work years?
When you properly manage your home's equity, it is possible to achieve … (4 comments)
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florida mortgage planner: Student Rentals - Worth a Closer Look! - 11/06/06 11:26 AM
In the September issue of Financial Planning Magazine, one article was focused on parents purchasing rental properties instead of having their children pay room and board while attending college. Looking at the costs, we found room and board can be as much as $16,000 or more, depending on the circumstances and college the children are attending. With that in mind, here are a few suggestions to minimize your risks...
When leasing to students, make sure their parents sign the leases and provide guarantees that they accept responsibility for rent and damages.A potential benefit for you as well is to pay your child … (19 comments)
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florida mortgage planner: 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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Robert D. Ashby
Miramar,
FL
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Address: 11758 SW 26th CT, Miramar, FL, 33025
Office Phone: (954) 674-6864
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