Inflation And The Fed Dominate Markets

• March 24, 2023
• realestate
• Podcast

The market is being dominated by the Fed and the rising inflation rate. To ensure that you are not in any financial risk, learn how to take control of your money and strive to build long-term wealth. Michael Harris explores how to navigate today’s trends that directly impacts your financial decisions. He unpacks the nuances of managing debt and demonstrates the power of the perfect financial GPS program. Tune in now and learn why you need the right financial advice and what it takes to make your money work smarter not for anyone else, but for you.

—

Listen to the podcast here

Inflation And The Fed Dominate Markets

I want to know what kind of loan you have. Many of you have a very good loan. You’re sitting at 2.75% to 3.25%. Even in the 4% and some of you in the 5%. You’re looking pretty good because rates are closer to 6%. They may look to come down within the year and I do anticipate that so we’ll look to get that better rate on the backside. However, many of you are still looking for home improvement and need money. You’re protecting that current mortgage you have.

Many of you aren’t moving because you’re going, “Why would I move out of my 2.75% into my new 6%?” There are issues and items that can occur to allow that to happen but you’re marrying the home and dating the rate. In this episode, we’re going to talk about divorcing the debt. It’s not walking away from the debt that you incurred because you contracted for that debt. I’m not telling you to go walk away and not pay but I’m telling you a better way to help lower the obligation and the interest that you pay on that debt.

How do I do that? I signed on that 30-year loan. I got 30 years of payments. Not necessarily. If you look at the principles of money, there are ways to eliminate early interest that’s more expensive on a mortgage because it’s an amortized debt. I want you to take a look at your mortgage statement. Take a look at the principal and interest. Not the extra money you sent. How is that skewed? Some of you depending on how long you’ve had that debt, it’s getting a little bit better but you’ve already suffered the other outcome.

Some of you depending on the rate paid 80%, 64%, and 53% of that payment went towards interest. “My rate is 2.75%.” If you look at an amortization schedule, I can do that on any of your loans. If you want that information, I can give you that. If you’re looking at that, later on, you’re paying a lot less interest and more at the principal, about 2/3 in or sometimes, you get halfway through.

As it’s front-loaded on the interest, that’s where the bank makes their money. They have that money to do what they want to do with to re-lend and do the same over and over again but yes, it is a necessary item of borrowing. You need to go to a source to borrow funds and that’s what you’ve done. An equity line of credit is a leveled payment. It doesn’t amortize. It’s level so you could pay interest-only and then it will fully pay off but it’s not an amortized loan.

Even if the rate is 8%, that 8% could also be even more effective than the early days of a 2.75% amortized loan. I know that’s a lot of math. I’m getting off the freeway. I got it. All I’m telling you is I want to give you the right information so you can use it properly but you don’t even have to think about it. I’m not asking you to do all the calculations, algorithms, and all the other fun stuff that’s involved. I have an opportunity to show you a perfect financial GPS program. That’s what we’re going to talk about in this episode.

I’m the President and CEO of United Mortgage Corporation of America. I’m approved to lend, helping you with your purchase, your refinance, and reorganization of your current obligations in a better way. I’m approved to lend in California, Colorado, Montana, Texas, and the State of Washington. You can email us at Radio@United4Loans.com. You can go to our company site which is United4Loans.com.

I want to give you a complete picture from start to finish. I want to get you pre-approved making sure you can afford the home that you’re looking for, you understand what it is that your payments will be, and what you’re doing going forward. You buy a home. If you get in the home, great. Be careful what you wish for. I might get it for you. I want to make sure it’s affordable. When you get in that home, I want to make sure you can afford to leave the home, go out, and enjoy the things because you’re in that neighborhood that you bought in.

—

Debt isn’t forever. It seems like it will and could be but that feeling is a clue that you have too much debt. While wisely used, debt could help you generate additional assets that pay for themselves. The payments are manageable because you are getting something else of value. Are you getting something else other than, “I paid the credit card? I got that item. Now, I have a debt.”

Are you paying that 17%, 22%, or 30% interest? What is the actual cost of that item that doesn’t work anymore? That’s another whole topic. I want to make sure money is being utilized effectively and also you’re able to manage that item. I was looking at my cable bill and I’m going, “That’s a little high. What’s going on here? Did we add something?” Some of the promotion items have gone by.

I picked up the phone and made a phone call. “I’m glad you called. We have this and this.” If I didn’t call, no one would tell me that I’m eligible. Should I call every single month and see what’s up? You’re chasing and chasing. You almost have to put a review process to some of the items you have. My cable bill went down $100 a month and they said, “Sure.” I was a very friendly person. I was very happy that it had happened. She went through that thing so fast. I go, “It’s so nice to have someone do that rather than tell me I’m on my own and go figure it out.”

That’s where I’m at on the mortgage side. I want to give you that roadmap. I do this day in and day out. You don’t. I want to make sure you’re getting all the benefits you can. The mortgage insurance premium for FHA improved. It went back to the older days of 2008 down to 55 basis points on his refinance that we’re doing. We have to go to FHA for a reason and it’s going to be 50 basis points instead of 80. That’s a 30 basis point improvement on a monthly basis. That saved him money.

I was able to get him an additional 40 basis points of price break and then we’re looking to close the loan at no points because we will be in a position down the line to take care of the debt a little bit better as we improve credit scores. He’s more of a recent sign-up for our debt program that’s taking his debt down to single-digit years. I did a full transformation for him. This thing is incredible.

You have a perfect financial GPS program that’s giving you every single thing to the maximum best you can be when it comes to your finances without additional funds that you don’t have discretionary and available setting your parameters. We’ll do that together. Having daily access to customer service, coaching, and items at your disposal. Having videos and information items that you can go back and consult if you like to understand it even better.

I don’t want to know all the algorithms. I bought a calculator because I stopped wanting to compute it myself back in the day. I still have that calculator I started with many years ago in the business. It’s the Hewlett-Packard 12C. It’s something where technology and life have moved forward. Also, utilizing efficiencies and processes especially when it comes to your numbers and finances is important. I tell the story all the time but when I started, I had to worry about where the next payphone was.

We were using our dimes and quarters. I had to find a payphone. People are saying, “What’s that?” Some of you know what that was. It was the pager then. The pager goes off. “I have to go pick up the call.” You then have to pick up the call and go to the pay phone. You stick in the money and all of a sudden, it was a hang-up. It was also the pager that people typed in their number. You know who it is who called. Maybe it was a printout.

Do you remember the fax machines? Some of you have fax machines but even a fax machine that had not plain paper but paper that rolled back up on you. You had to put it on a flat surface, put rocks on both sides, get it on the copy machine, and close the top of it before rolling it back up. It was such a hassle we went through. We lined up correction ink in the typewriter because we had to type all the applications. We had paper. We were killing trees.

You then had the file folder. You were getting paper cuts but we got things done and we did them efficiently. Utilizing technology allows efficiency to be even better but sometimes it could be the hassle that we don’t want to have and the calls that we get that we didn’t get before. Some of the solicitations perhaps occur a lot easier than they were before.

I’m talking about the good ways that we can use it to handle and deal with our personal finances. Many of you have these large spreadsheets, algorithms, and things you put together. You have 400 pages of data and tech stuff. You pull this out and you’re spending hours every month on what you do. It’s very smart but takes a lot of time. I want a perfect position item for you that can take you maybe fifteen minutes a month. That’s it.

We set it up and it’s a perfect financial GPS. I joke about it but I’ve always been good with numbers and I love doing what I do. It’s nice to have somebody maybe smarter than me in the room with my finances who doesn’t argue back but stands his ground or her ground. The position of the opportunity tells me the best solution. If I disagree and I enter what I want to do, it tells me how much worse I will be.

It will move my numbers from 9.7 to 9.8 or 9.9 because I veered off the path. Maybe it’s a path that I had to take. Maybe it’s something I had to do. Maybe that is done but maybe I have extra money that comes in, and then all of a sudden that 9.7 goes down to 9.5. It’s a movable item but it gives you an idea of where you are.

Maybe I’m going to take the family or my wife on a vacation. Maybe it will cost me a set amount of money come summer. Maybe I don’t want to put it on a credit card. Maybe I will get some points and then pay it off but I can put that future item in the program in the opportunity and find out what that will do overall. If I put it on a credit card, it means this. If I allocate numbers a little bit differently, it will allocate that money to be available to pay cash come summer.

Otherwise, what I would do is I’d probably charge you to get the points and then pay cash on the next cycle 30 days later so I borrowed their money for 30 days. There are so many ways that you can learn about the principles of money. Be the bank. Borrow for zero and don’t pay back early. We’re going through the tax cycle where individuals say, “This is great. I got a refund.”

My thought is, “I’d like to owe it a little bit because if I get a refund, it means I lent the money to the government for the full year with no interest and I got nothing,” or I got too much back and that means I didn’t know what to do with my money so I gave it to somebody else to hold on to at 0%. It’s not good. I want to change your mind and thoughts a little bit. I want to get that mindset a little bit different.

If you’re not earning on your idle funds any interest, that’s the days of old. Rates were low. Rates are higher now. You can go get 3.3% for no service charge and have your money sit and pay you something back. You can then transfer money and pay bills from it. You could do everything you need to do. Nothing changes. Let me show you how you can earn those extra funds and then pay off your debt more efficiently.

Email us at Radio@United4Loans.com. I’m looking for your name and phone number. I’m going to send you an invite where you’re going to get a couple of emails that are coming through giving you more information. There is no solicitation. It’s all up to you. It’s not saving me money. It’s saving you money and I want to share it with you. It’s been my mission always in lending to have the most efficient lending process possible to get you the best results based on your direction. This is taking it one step further.

I’ve said this over and over. I’m responsible for helping you get one of the largest debts you will ever have in your home. It is my obligation and responsibility from my perspective to help you eliminate that debt as fast and as soon as possible without changing your lifestyle and creating more jobs or items but handling what you have more effectively. I’ve not seen anyone that I’ve spoken with be over thirteen years from the 28 years or so that they had. The majority of the time, it’s under twelve years. The most recent I had done was 5.9 years. The more debt you have, the more I can save you because you’re going to avoid that interest. Let me show you how it’s done. (888) 543-3980.

On the lending side, we’re keeping an eye on things. We have factory orders coming out. We have wholesale trade and consumer credit. We have the ADP employment numbers, US trade balance, job openings, and the Beige Book. The Beige Book gives us an idea regionally of what’s going on. We have jobless claims. We also got that employment report. It’s very important because the Fed is targeting. We need more unemployment.

The bad news is good news. It’s one of those weird things. When the employment sector isn’t moving, then people have confidence. They have jobs. They’re earning money and spending. We still have that inflationary thought so then the Fed has to continue their fight. It’s the Federal quarter and then six weeks later, another quarter after that. Those are the cycles that we’re looking at and we’re looking at that data to find out where we are. As we get rid of April, May, and June 2022 and the higher inflationary numbers that occurred on the books, we’ll see if that helps.

However, it’s a fight. The Fed is fighting for the economy to slow. The consumers are going, “No. I’m going to be going good,” and they’re finding ways to stay. The Fed is going to continue to fight. Somebody’s going to have to eventually say, “Uncle.” We’re waiting to see where that struggle is and where we go with interest rates. There are individual sales. “We’re going to go up to 10%.”

When we look at the prime rate, we’re going to be hitting that 88.25% on the prime. We’re not that far away. If they are thinking about the prime rate, it’s close but I don’t think the mortgage rates. We’re in the sixes. We can get back to the fives. The early 5s and even high 4s are a possibility. As we get through the end of 2023, we’re going to get to an election cycle again. We’re going to be getting to a hot and heavy election cycle with issues on the table. We’re going to keep that in mind as that shapes up as well.

If you’re looking to purchase a home, I want to help you get pre-approved. I want to make sure you have the right loan with the right result once you close. I want to make sure your loan estimate is accurate from anyone else you’re working with. If it’s accurate and fair, I’m going to tell you that you got a good one but I want to make sure it’s your money and not somebody else’s. You’re not lining someone else’s pocket and it’s going back into your clothes and the money that you’re using.

Just because you have someone giving money from the clothes from the seller’s side, you want to make sure that the seller’s money is being utilized to your advantage and not anyone else’s. It’s your money that you worked hard. I want to make sure you have it back in your pocket and you eliminate debt as soon as possible without changing your lifestyle. I want you to be able to afford the things that you have not been able to afford before.

What I mean by that is it’s not the extra toys but it’s protecting you and your family having the right insurance and coverage. Not that 30/60. Maybe it’s the 100/300. Maybe it’s even 255/100 when it comes to your personal policies. I don’t write property and casualty but I’m telling you, you need to be to protect it in case of that item. You don’t want to be unprotected but you want to be able to afford that and not have a change your lifestyle because it will change your lifestyle if you’re not protected.

It’s having the right coverage on your home, whether potentially you’re in flood, wind, damaged items, and deductibles. It’s having the right deductible, talking to your insurance carrier, and not necessarily having the lowest deductible because you’re not using it that often. Maybe it’s having a slightly higher deductible so you can save on your premiums. All these things are important for a homeowner. Your insurance agent is an incredible resource. When you look at your home, property, and casualty, it’s very much so.

When you look at your insurance carrier or financial planner for life insurance, other vehicles, and long-term care, these are important. I do carry an insurance license. I don’t write insurance at this present time. I can refer very comfortably but I do have an insurance license. I would like to make sure you understand what choices you have as items become affordable because we’re eliminating other debt. We need to make sure your debt is being paid.

I want to make sure it’s eliminated as soon as possible. The opportunity I speak of is under the management of over $8 some odd billion. $2.4 billion of interest has been gone or eliminated. That’s the results that I’m talking about. That’s not all me. I’m a fraction of what that is but this is being done and this has been done for the last several years but I want to get you caught up in the process. Many of the individuals who started many years ago are debt-free.

They are in control of their destiny. They’re either buying additional real estate, moving forward with opportunity, or living comfortably. One gentleman is like, “I don’t even look at my checkbook anymore. I know money is there.” That’s a nice feeling to have. Understand why you’re waking up and what you’re waking up for and you have no reason to be pressured. Also, you can do what you want to do.

I’m not there. I wake up each day. I do have my company I handle. I do earn income. I do have two kids. I’ve gone through all those other difficult years. I’m sure there are more difficult years to come. It doesn’t go away but I want to make sure you have the best position possible for you and your family. Make sure that debt is gone as soon as it needs to be. You pay off the debt that you contracted for but not a nickel or a dime more than you need to when it comes to interest.

Call me for your results. I want to run your numbers but first, I want you to understand what the opportunity is a little bit better. I want you to understand what it can do for you. I want to show you what it did for me and give you some other examples. I want to run your numbers and then you have a decision to make. Do you want to send your money somewhere else or do you want to stay with you? Call (888) 543-3980 or go to United4Loans.com. I’ve been so excited to bring this to many people. We’ve been taking effective interest rates below 2% for people who have mortgages even at 2%, 3%, 4%, and 5%. It’s not a refinance.

—

We’re talking lending and debt. No, I don’t want to give you more debt. If you’re doing a loan, you’re getting more debt but if you’re buying a home, you have an asset. There’s good debt and bad debt. I’m looking to help you with one of the largest items you have and effectively finance it with the right loan at the right time. The economy is a moving target. You’re throwing darts. Sometimes they’re spinning you around. You’re hoping to find the target. That’s sometimes how it feels when you’re looking for a home, especially in the markets where you had to outbid somebody else.

We’ve been having some and that again. Some of my client’s homes that they’re buying or looking at, they’re being outbid. It’s happening. As rates had gone down and we saw 5s, we saw that coming out again but we stepped back to 6s. It’s maybe getting a little bit better but it’s finding the right home that’s on the market at the right time for the right reason.

One of my clients was looking at a property and said, “It’s been on the market for a while”. Why? You look at the price and the condition. She went out there. It was missing flooring in one of the rooms. It had a big brick fireplace and it wasn’t concrete finish floors. It was missing flooring in that room. It was a probate sale so no one’s going to do anything. You’re buying a home that’s missing the flooring. It’s a big problem lending-wise. Is it a rehab loan?

I see drywall repair all over the pictures on the walls, let alone what’s in the walls. We don’t know. She’s got to go look at it with disparaging eyes. We looked at the listing price. It’s right where the median should be. It’s on the high side. It’s not on the low side. It’s just right. We’re talking about the three little bears here. Is it just right? That’s where that home inspection and your realtor come into play, the expertise of your team. Just because you get the property doesn’t mean it was the property you should have bought.

“I’m going to do this and that.” How much this and that are you doing and how much did you load in that you shouldn’t have paid for? Why is it on the market as long as it has? What else has been found? When some of the stuff was uncovered, we found out there were other issues, items, and things that were cured by other people who were going forward that didn’t go forward. We also found out there was a mold problem.

They’ve had multiple people who have backed out or stopped the contract for various reasons. It’s for probate. They don’t want to do anything. It means you’re buying a home without flooring and mold. Good luck. It’s either the cash buyer who’s going to do a lot or it’s a rehab loan that I’m looking to close to then get them the right loan once they fixed everything. Are they paying full price for all the work that needs to be done?

This is why you need experts on your team. You need a qualified realtor or broker who handles listings and sales and is actively involved in your market. I don’t list. I don’t sell. I do loans. I’m a licensed broker in California. I’m a mortgage loan originator in five states but I do not list and sell. When I sold my home, I had a realtor. When I bought my home, some had been new homes being built so I had a sales office. I did get paid but they were already handling the contracts.

Debt, Amortization, and Effective Interest Rates

I don’t pretend to have every answer when it comes to the contracts. That’s not my expertise. I rely on a qualified team. I don’t like doing all, trying to do that and think I’m representing correctly. I handle lending. We’re talking also about debt because when I lend, I create a new debt and payment. You may substitute the rent that you were paying. You may substitute the mortgage that was paid off when you sold a property to buy a new one. You’re starting a new cycle for 30 years.

Let’s say you get a great rate or you will get a great rate as the economy pulls back on the rates a bit in the future but the amortization schedule that you have is skewed because it’s amortization. You’re not computing like, “Here’s my debt. Here’s the interest rate divided by twelve.” No. That’s an interest-only loan. On an interest-only loan very interestingly enough, you could pay interest only on a home equity line of credit and pay towards principal but you have a level payment.

Many times, an interest-only loan has a higher rate of interest. That higher rate of interest can save you money if it’s a simple interest because you’re level all the way through. When you have an amortized loan, it’s skewed towards the beginning years, and the average homeowner, for 5 to 7 years and then moves on to a new home. Another 5 to 7, they could move to a new home. You’re paying the loaded front interest and never getting back to the enjoyable high principle at the end.

I want to show you a method and a better way of handling your money and paying much of that early interest off sooner by eliminating those dreadful months and years to pay off debt sooner. It can be done. Nobody has taken the time to show you. I have a perfect financial GPS that can navigate you through the process and educate you to the extent that you want to be educated to understand the principles of it. It’s a perfect item that you do not have to think about because you’re just going to handle and move forward with the recommendations.

I want you to understand that there’s no blind obedience but my mortgage and loan had 27 years left because I bought a new home a few years ago is down to under 10 years based on this opportunity in plan. That’s not just the mortgage. It’s all my debt. I’m going to incur some debt on the way. I’m going to buy this or do that or charge this or charge that but it takes that into account and it navigates you through the process. I want to show you how you can do the same.

You say, “Nine years? I want to pay it off in twelve.” We can do that. We can be less efficient. Let me show you how you can manage your debt and pay less interest to those who are relying on you to pay them. You borrowed money, you pay back your principal, and the least amount of interest possible. On your mortgage, you’re paying 82%, 64%, or 54% interest going towards that mortgage payment.

If you pay off that loan in 5 years, you didn’t pay 2.75%. You paid 2.75% over the life based upon that amortization. However, even if you go to the life of the loan, you borrow $200,000 and you pay $300,000 plus back. You paid a lot more effective interest. Let me talk to you about real interest and numbers and let’s play with these numbers for your advantage. I love numbers. You may not but I do. Let me play with what I like. Let me play with the numbers and show you what it can do for you because the results are what you want to see.

I had some individuals on previous radio programs. The thing is they’ve called in and said, “My financial planner has told me all the deductions I can get. I can’t afford to lower my interest rate.” It seems counterproductive because you can’t write off 100% of what that was so based upon your tax bracket, you’re leaving a lot of money on the table.

I tried to explain these principles and it’s very difficult to get that through but finally, my answer is, “Let’s get you and your financial planner off the air and we’re going to make all of us extremely happy. I’m going to raise your rate to 12% and increase your deductions.” It doesn’t sound right, does it? It’s not. I’m here to make sure you’re saving money throughout the process and you’re doing it right for you and your family. Pick up the phone and give us a call at (888) 543-3980.

—

We’re saving people money, whether you have a loan or maybe you didn’t use me for the financing. That’s okay but let me help you eliminate that debt faster without refinancing and paying that off in a third or half the time. Let me work with you to help manage that debt in a way that you’ve never imagined before through a perfect financial GPS program. We are helping individuals who own homes and still rent. You are making a mortgage payment just not your own. It’s your landlords.

We can show you how to potentially afford to purchase with very little down. It doesn’t take 20% but we’ve had individuals who have had debt and credit scores that need to be improved come on to this opportunity and save. We had a young woman who had $85,000 in debt and she does not have a mortgage payment. We were able to take her debt down to 3.4 years. She’s so excited.

I had an opportunity to talk to another couple. The young woman wanted to get so involved in the opportunity that she wants to refer many individuals because she’s so excited about what it’s done for her and that’s fantastic. I love reaching other people in your sphere of influence so that you can show this opportunity to allow them to save as well. She was so excited. She wanted to be on the call. She wanted to show what she was doing. She’s like, “Let’s share the screen.”

She wanted to go into her numbers. She’s showing all of her finances and what it is doing. She’s so excited but that’s the excitement and it becomes almost a game of how fast you can get that item taken care of because the perfect answers are coming from this program or opportunity. It’s very powerful. The hardest thing is if I have the funds, I’ll be like, “Here’s the bill. I’ll go ahead and pay it.” No. Have restraint. You’re not late but pay it the best day possible to have the best results.

Why would I send a mortgage payment in, for instance, if it’s due on the 1st and late on the 15th? Why am I paying it on the 28th? Why am I giving all that money to them for free for seventeen days? It’s because it’s going towards the payment. It’s not a reduction of principal. It’s the payment. I can pay it up until that day. I can do an ACH, a transfer, or whatever it is but it’s the most opportunistic time. Think of your credit cards. You don’t have a current balance on the card but when you charge something, you have a window of your statement period that you’re not paying any interest on that money.

They hate you for paying it off every month perhaps and you borrow their money for 30 days but that’s their money for 30 days that you can utilize for paying off money that you are paying interest on if that’s the case but you don’t have to figure all that out. That’s a minor item that can be done. There’s a very sophisticated item that this does and it tells you day-to-day what you should be doing.

Strategies for Managing Debt Efficiently

It’s not every single day that something happens but let’s say you’re adding in your household items, household expenses, and insurance-related items for car, life, and various other items. It could be your property or your income that comes in. Variable income is fine here as well. You can program into the opportunity. For instance, I had a young lady who was making a set amount every year but her income is variable and it happens weekly differently.

Every Friday, we put a placeholder in for the average amount based on her annual income. She can go back, fill in that number, and go ahead and execute. It could vary. The programs go to alter move and change and have access to updated decisions for that week and the weeks they come based upon that item occurring. It’s a smart system. It teaches you as well. It allows us to understand and then it comes out very nice.

Usually, it’s a 30-day or maybe a 60-day window. We get through that as well. In doing that, you have set up support. You’re not left on your own. It’s not that you bought the next best thing and all of a sudden, “Good luck. See you later.” I’ve had some individuals who got started after they were set up. Customer service set up with them a time and then we were checking in with them.

They run into something. It’s friends calling friends, helping people with your bookkeeping and knowledge. I’m taking things that I do and they do. “No. Go over here under preference and move that.” You learn. You see the results and it’s astonishing. As I’m talking to many of our readers, past clients, and future clients, it’s amazing. I have one person who’s on a path to homeownership and we’re trying to capitalize by allowing debts to be in a better position.

I talked about the changes in lending. The debt-to-income ratio becomes a little bit more important when it’s over 40%. There are more ads and cash out as well but there are additional fee ads that are being added to the mix. What’s gotten user-friendly is the first-time home buyer side and low down payment side. Private mortgage insurance is getting a little bit better in price. The mortgage insurance premium for FHA has gone down. Veterans still have a funding fee without disability. The VA funding fee has gone down a little bit. We can talk details to those as well.

We’re saving money on one side but taking away from that on the other. They’re looking at higher risk and factors. I want to attack those items and bring down the risk by lowering your debt-to-income by eliminating debt at the same time increasing your credit score. We want to attack the problem that you shouldn’t have to continue to pay for by eliminating interest early. It allows you to pay money towards the principal and see the term go down.

I mentioned my debts under ten years and I can give you updates on that as it goes but month to month, it will go down. I’m looking for that eventually. Based upon some thoughts and items that I know are coming, it potentially can go down to under eight years. I’m not going into detail with that but if you have rental property, you sell property, you have income coming in, or you have unexpected items that occur, things can enter into the picture but you can also protect those items and allocate comfort levels of non-touchable.

In other words, you’re saying, “Spend it all.” No. You want some comfort. Where we can go with this opportunity is to build that comfort level of security and emergency fund where you have that comfort that you don’t have to worry about that unforeseeable item. We’re going to start attacking interest in debt. We’re going to look to build an emergency fund but we’re looking to do this in a way that’s thoughtful and right for you. Let us do that. Let us run your numbers and find out what we can do for you. You simply will be amazed. (888) 543-3980. Email us at Radio@United4Loans.com.

Tailoring Loans to Individual Needs

I am going to go over what it is you have now and what it is we can do. If you’re looking to purchase, I want to be your lender. I want to help you with your real estate life. If you’re looking to consolidate debt, equity lines, and equity loans, and you’re looking to move forward with your real estate life, I want to be there for you whether it’s a purchase, a refinance, going forward, or in reverse. Whether it’s construction, commercial, a non-qualified loan, or being self-employed perhaps, and you have bank statements, cashflow, and asset depletion, I can get loans done going that way.

We also have loans which are ITIN loans or taxpayer identification loans. You do not have to have a Social. You’re here in the States legally working. You have an ITIN and filed returns. I can get loans done with bank statements on that for 12% to 24% but also then fully qualified loans. The interest rates are higher but once you’re in, I’m going to show you how to eliminate that faster so your effective rate is lower.

If you’re an ITIN cardholder, I want to help you throughout the process. There are ITIN loans available with as little as 11% down. You do need good credit scores for that. It should be 720 and above. I like to see that for an ITIN with a low down payment. If you start going 700, 660, or all that fun stuff, the loan-to-values could be 20% to 25% down. We will adjust and vary. We can go over your individual items to do.

The Importance of Debt Elimination

You can set up a consultation with me on my Calendly. You can set up a 30-minute or 60-minute consultation or even a 15-minute. You can say, “What’s up? What can we do?” We can then set up that next meeting. You can also set up a one-hour consultation when it comes to debt elimination. Debt elimination has become the emphasis that I see with individuals who have low-interest rates and are not moving anywhere but still have debt.

I want to attack that debt, protect your current loan, and then attack that and get rid of the interest that you’re paying now because you are paying 54%, 63%, or 84%interest on that 2.75% loan. You’re loading it up in the front. It’s when you do a credit card cash advance when you do a transfer. You get something in the mail, “We could transfer all of our debt for 3.99%. With that 20% card, we can move it over to this one.”

3.99% is better than the 20% but only if you take that 3.99% to term. If they’re giving you that 3.99% for 18 months and you pay it off in 4 months, you paid it off quite early. You paid it off in a quarter of the time. I’d like you to take that 3.99% or let’s say 4% times 4. You paid closer to 16% because you paid it off early and you loaded up the interest upfront. You paid a lot more for the term that you were contracting in your mind. Also, those numbers aren’t exactly right but that’s the idea.

If you paid it for the full term, then that is the rate you paid for that term but if you didn’t pay it off in that term and you still have a balance, you’re going up to that 20% or 30% perhaps that your card will go to. They’re looking to get you either on the front paying early or being aggressive because you want to get rid of the debt but you already paid them for it. You paid for the money but then you’re giving a back early or you paid for the money and then you couldn’t afford to give it back so they’re charging even more.

You want to make sure you’re doing it right to the contract and you have a solution on the back. A perfect financial GPS will do that for you. It will take care of that and be ready for you when that decision comes and you’ll have the money set aside. Call at (888) 543-3980. The whole idea is to have a perfect plan. A lot of times, you have a plan but is it perfect? No one truly knows but with technology and items occurring as they are, this will allow you to have that.

Utilizing a Financial GPS for Sound Decision-Making

You can disagree and have a different thought but it will tell you what that meant to your overall plan. You can do that still. No problem. You can say, “No. I want to do this instead,” but it will show you what that meant and then it will recalculate the other items for the 90-day future as a result. One of the items wanted me to take money from my equity line and pay it toward my rental.

My rental is in its phase of sale. Hopefully, based on what’s going on out of state, I will have the property sold. I’ll be having capital gains and money coming in. It’s non-taxable based on how I set it up. I’m all happy but I’ll have a lump sum of money coming in. For me to pay down that mortgage now, it doesn’t make sense for me to do so. It’s telling me to do that in April 2023.

Depending upon where the sale is and all that, I’ll know but that doesn’t make sense for me to move that debt to the other when that’s being paid off. That’s something that the system would not know but I’d be able to guide it at that time. There are still things that you’re needed for but it’s making perfect financial decisions. If I was keeping that rental, it’s telling me I’m better off doing that because it was moving amortized interest over from simple interest.

My rental mortgage is on a variable. At that time, the program knew that my variable interest rate was going higher. All of a sudden, it skewed the wrong way so it wanted to skew me back in a better way. It was smart but it didn’t have the other piece of information that the property may not be there. It could only do what you enter. It’s junk-in junk-out. If you get the right information in, you’re going to get the right result. That’s what I want for you.

I’d like to thank you for reading. It’s been enjoyable for me. I like to deliver results. My weekend doesn’t stop until each and every person is responded to and their questions or answered. Hopefully, I can start a process with many of you. Pick up the phone and call (888) 543-3980. I may send you a text with my information and then I’d like to know what it is I can do for you. Hopefully, it’s getting you on a better path for your housing, debts, and family going forward.

It’s a pleasure to be here with you. We’re going to be back with another program where we talk about the market and economy. I’ll update you on some of the areas of debt, the people who got involved, and maybe how many years they’re saving. That can be you. Until next time. What kind of loan do you have?

—

I had some calls from individuals who are looking for lines of credit. Their income might be decent but the problem is their equity position is tight and the local bank or credit union is not willing to go there. I have bank statements of second mortgages that go up to 85% with full documentation of up to 90%. I generally don’t look to write second mortgages but I look to do them when you can’t get the results for no cost at your local bank or institution. If you have some items that you want to talk about, I’ll guide you the right way but thank you for joining us. We’ll talk next time.

Important Links

• Radio@United4Loans.com
• United4Loans.com