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consumer tips: Seven Steps to Inhibit Spending - 05/28/08 06:23 PM
Freeze credit cards and ATM cards in a glass of water in your refrigerator freezer. Get spending on a cash basis and make notes/keep receipts on all purchases to help raise your awareness of where your money is going, day in and day out.
Take some financial pictures of yourself. The big picture is your net worth, listing the things you own versus the things you owe. But don't stop there, Take a close-up picture of your net worth, that is your cash-flow, which is money moving in and out of your life on a monthly basis. It is a list … (0 comments)

consumer tips: Twelve tips for Grocery and Household Shopping - 05/28/08 05:53 PM
1. Create a list to take shopping. Put anything you want on the list, but don't add to the list once you get to the store. Using a list will help plan for your needs in advance, so take advantage of sale prices and avoid impulse purchases. "Go alone after a meal". If you go shopping hungry or with another, you're shopping for more than one appetite and the result is always increased spending.
2. Watch for coupons in your mail box and flyers distributed at the stores, watch for store ads in the newspapers and coupons on Sundays. Check … (0 comments)

consumer tips: Steps to Responsible Lending - How to figure them out - 02/04/08 01:09 AM

In slower markets, some loan officers may feel pressured to close deals that aren't in the homeowner's best interest.  In order to avoid getting into difficult and financially compromised positions with their mortgages, borrowers are well advised to be acutely aware of the signs of a responsible loan officer when selecting a mortgage professional.   
First, look for an Orange County Mortgage Planner whose values are focused on helping individuals to achieve their financial goals in both the fastest and the safest way possible.  A reputable Mortgage Planner will show you the numbers associated with the proposed loan and provide you with … (0 comments)

consumer tips: It's picture time! - 01/29/08 04:31 PM
One of my clients called me last week after reading my latest posting, on our conversation I was explaining to him that most homeowners look at mortgages from the homeownership perspective instead of the personal finance point of view costing themselves a lot of money in lost opportunities to increase their bottom line (net worth.)
I shared with my client that a newsletter from Paul Richard, RFC., Executive Director of the Institute of Consumer Financial Education says, "the big picture is your net worth, listing the things you own versus the things you owe." Along with that he said, "you should determine how many years … (0 comments)

consumer tips: The Federal Reserve Lowers Interest Rates by 0.75%... What Does This Mean For YOU? - 01/22/08 01:12 PM
Dear reader,
The Federal Reserve surprised the market this morning with a 75 basis points rate cut... What Does This Mean For YOU?  In order to answer this question, it is helpful to understand the four major interest rates that are affected by the Fed:
Discount Rate (currently 4%) - the interest rate that banks pay when they borrow money directly from the Fed. The rate has been largely symbolic in the past because hardly any banks take the Fed up on their offer these days!
You see, banks prefer to get short term financing by:
Issuing "commercial paper" - these are short term IOUs of … (0 comments)

consumer tips: Good Reasons to Monitor Your Credit Score - 01/11/08 03:56 PM
Do you know what's your credit score? If your answer is "no" this might be a perfect time to check it. The big majority of consumers are not concern with their credit worthiness until they have to fill out an application.
The amendment to the federal Fair Credit Reporting Act requires each of the nationwide consumer reporting companies - Equifax, Experian, and TransUnion - to provide you with a free copy of your credit report, at your request, once every 12 months. Each reporting agency will give you a credit score, if you pay a fee (this investment is relatively small compared … (1 comments)

 

Joseph David, CMPS®

Fountain Valley, CA

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Clarion Mortgage Capital, Inc.

Office Phone: (714) 786-4516

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