The philosophy on mortgage is simple, I am of the school that would rather have money in the bank as a safety net than equity in my home.  This would be the case I relay to my clients, but as a finacial consultant I preface my remarks with "My philosophy is..." and end it with "...this may not be for you, it is up to you to decide."  I also try to help them look at their overall financial goals and so the mortgage they choose is the best fit for them.

 I suggest reading Missed Fortune 101 by Doug Andrew, although I do not agree with Mr; Andrew on everything he suggests, I believe his philosophy on mortgage is right on.

 
Posted by David Doerr on 04/21/2007 11:34 PM   Comments (3)   missed fortune  

3 Comments on My mortgage philosphy... - Utah Home Loans

APR
22
2007
9 Featured Posts
I tend to agree with you David. I believe that people who really look at the numbers and plan for the long run will realize that their equity is doing very little for them. It can be very dangerous unfortunately to people with no discipline so it's important to distinguish who those people are and act accordingly. Good post. 
12:26am • #1
Great Philosophy David.  I tend to agree with you.  Commonly people do not look at the "big" picture, just the current isolated one.  Great post!
7:41am • #2

I agree with you David. The equity in my home is not doing me any good until I liquidate through re-financing or a line of credit. Which will cost me because lenders don't work for free.

I rather have money in the bank earning interest which I can easily access.

http://www.michaelthompsonproperties.com/
11:27am • #3

Leave a response…

(optional)
What does the graphic say?
 
Rainmaker_large

David Doerr

Spanish Fork, UT

More about me…

Wells Fargo Home Mortgage

Address: 1417 East 820 South, Spanish Fork, UT, 84660

Office Phone: (801) 246-4738

Cell Phone: (801) 362-2990

Email Me

Utah Mortgage Brokers and Loan Officers

Utah Mortgage, Utah Home Loans, Utah County Home Loans, Provo Home Loans, American Fork Home Loans, Cedar Hills Home Loans, Utah Home Loans, Saratoga Springs Home Loans, Orem Home Loans, Spanish Fork Home Loans, Payson Home Loans

Opinions expressed on this blog are those of the authors and do not necessarily reflect the positions of David Doerr. Links on this blog to articles do not necessarily imply agreement by David Doerr with the contents of the articles. Links and posts are provided to foster discussion of important issues. Readers should make their own evaluations.

National Association of Mortgage Brokers Photo Sharing and Video Hosting at Photobucket"

Map IP Address
Powered byIP2Location.com



Links

Archives

RSS 2.0 Feed for this blog

Find UT real estate agents and Spanish Fork real estate on ActiveRain.