Labor Day Weekend | It Is Time To Eliminate Interest

• September 2, 2023
• realestate
• Podcast

It is time to stop losing money and start saving more! Make Your Real Estate life a reality with even more real benefits and results as you tune in to this Labor Day Weekend episode. Join our host, Michael Harris, to dive deep into how you can effectively eliminate interest that is making you lose out more than you ever realize. From interest rate versus interest volume to home loans to choosing an interest rate, Michael shows you the ins and outs to help you gain the best result earlier rather than later. Tune in to today’s show and discover how you can navigate yourself free from debt with a perfect financial GPS!

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Listen to the podcast here

Labor Day Weekend | It Is Time To Eliminate Interest

I’m here to talk to you about your real estate life. You’re tuning into us in News Talk 1590 KVTA. I’m glad to have you with us on the first weekend in September 2023. We are here to help individuals make the right decision when it comes to purchasing a home and getting it financed, whether you’re putting down a little or a lot. It makes a difference. We’ve seen interest rates with a seven as the front number. We haven’t seen that since 2021 on these levels.

We’re getting some still with some sixes, then we’re looking to, perhaps, get those improved as we get through in 2023 and maybe into the beginning of 2023. We’re very careful about how much money we want to spend when it comes to closing alone. People will say, “I want to get the rate as low as possible.” That means you’re just for now with points. Those are discount points, a percentage of your loan amount.

If you get a $500,000 loan, 1% is $5,000. That’s one point. We’ve had some creativity where we have a seller who’s willing to pay money toward closing costs, but generally speaking, that means you’re buying the home at a slightly higher price, but it is appraising. You’re not losing money, but you’re not necessarily getting the deal. Maybe you were, by raising the price to the level that it will appraise and getting a seller credit.

If you can get someone else’s money to get you in the door and see interest rates get better. The next month, 3 months, 6 months, or a year from now, if we can see a better day, that’s great. We can then utilize that buydown, that’s what it is, to get you a better situation and not have the money you spent. (888) 543 3980 is how you reach us. We’re here during the program and after the program when you are available. What we do is help people purchase, refinance, and handle financing in five states.

In 30 other states, we can do what is called debt service coverage ratio loans, investment property loans, and commercial. In the five states, we handle are conventional financing, Fannie Mae, Freddie Mac, FHA, and VA. We can do that in California, Colorado, Montana, Texas, and the State of Washington. We’re making a difference in people’s decisions by saving them money but making them aware of their decisions when it comes to buying property.

Interest Rate Versus Interest Volume

On our shows, we talk a lot about payments and the right payments at the right time to save more interest. We talk about interest rate versus interest volume and how much you are paying the bank. If you’re financing, you’ve seen a loan disclosure. Maybe you’re closing disclosure and you’re seeing total interest paid, that evil number that’s so darn big, and you go, “Ignore that man behind the curtain.” That total interest paid is the tip. You’re paying the bank that interest over the life of the loan.

A $600,000 loan could have over $700,000 of interest being paid over the life of the loan. It doesn’t sound like it’s 3%, 6%, or even 7%. It sounds like it’s closer to 54%. You’re paying a lot of money over the life of the loan. In that example, it’s $1.3 million plus for a $650,000 or a $600,000 loan, to be exact. I want to show you the true cost of money and what you can do to keep that money in your wallet. I want you to make the smart decision that you made when you bought the home, but you don’t have to be leaking money out of both pockets.

People will fight for an eighth or for a quarter, but they’re giving up huge percentages without even knowing. I need to make you aware of this big money and not have you worry about the small money. Money is money, and I appreciate that, but you’re ignoring the large money that you’re leaking from the other side. Let me show you a better way. Let me show you a perfect financial GPS program that will show you, take care of you, and help you save money.

Retire that debt. Instead of 30 years, retire in half or a third of the time without changing your lifestyle. There’s no magic here. It’s actual ways to handle your finances, (888) 543 3980. We have an exciting program, as always. You can tune in to our past programs at YourRealEstateLife.com or go to United4Loans.com. I’m Michael Harris. I’m glad to be here. I’m the President and CEO of United Mortgage Corporation of America.

I’ve been in the lending industry for many years. I’ve been on Talk Radio for a little over seventeen years now in 2023 in Southern California. It’s been my pleasure doing that, helping individuals save a lot of money. We’ve had multiple generations of families that we’ve been able to help. We’ve helped friends, families, associates, and others throughout the process of our current clients. We touch back with these clients on a regular basis.

I’ve seen people pay off their mortgage and have that debt-burning party when everything’s paid off and zero. Now we’re helping people do that even faster by educating people how to eliminate debt. We’re seeing people who are younger eliminating debt rather than going through the whole course of action in much later years. also, having some good times with some equity and people paying off debt sooner for other reasons with our economy.

Interest rates are up but they’re not that bad historically. We’re also looking at a time where we still have values that are maintained and not going down because we have high demand, but we have low inventory. We have a growing number of individuals who are in homes affording their current taxes or rate of payment and are now accelerating and becoming debt-free. We’re working with individuals whom we didn’t even write the home loan, but we’re helping people eliminate that debt much sooner because we’re giving them the stability of their own money staying in their wallet without adding additional gig, jobs, other items changing lifestyles, pork and beans, and living on the edge.

I’m trying to make sure that does not happen. I want to give you solid solutions and advice that will help you retire debt sooner. When you have your current home loan, the statement online, or as you get it, perhaps, still in the mail, you look at how much interest every month is going towards your payment. You may say, “No, they are equal.” That’s 50%. You’re paying 50% of your payment towards interest, so you’re front-loading it.

If it was truly a 3%, 4%, or 5% loan, that would be how much it is in you’re paying principal, but that’s not a simple interest rate loan. You’re not applying it in that same respect. It’s an amortized loan. You’ve been conditioned, “My rate is at 2.75%. It’s fantastic,” but you’re still paying 60-some odd percent or 50-some odd percent depending on how far you are. Until you’re 18 to 22 years in, you’re not even at 50/50 unless you start hunting down extra cash.

I want to show you how many works and how you can take advantage and gain it back to your side of the ledger. Let’s have a meeting. Let’s go one-on-one, a Zoom meeting, and let’s evaluate where you are and what we can do. If it doesn’t make sense, it doesn’t make sense. It’s not for everyone. I understand that, but there’s no obligation. If you like to go to a Tuesday night webinar, it’s Webinar@AheadForMoney.com. If you attend that webinar, I’ll give you some good general information. Ideally, I would love to get your information so I can send you a few links. Perhaps a 30-minute snippet of the webinar that you’ll have prior, then maybe we can set up that one-on-one and get more into your specific needs.

The webinar is there as a catch-all for you to watch with no obligation. You can do that, and I’ll send you the link for that. Ideally, I’d love to get you on my calendar, but some weeks, we have so many appointments that are going on so I want to make sure my calendar works for you. I do have that Tuesday night time. If it fits you, great, but I love to get that one-on-one appointment with you. Each day now, I’m having multiple appointments. We’re helping multiple individuals, whether there are 75 or 57. Twenty-two years of age has been my youngest.

We’ve been able to gain a handle on the student loan debt that they have and get them debt-free much earlier prior to probably getting into other debts but more responsibly later on throughout life. Now the program comes with guarantees and various items. We could discuss those items, but it’s a perfect financial GPS program. I’m a mortgage lender. That’s what I do. I’ve been doing it for 36 years. I’m in my 37th year in 2023. I help people responsibly finance, leverage to buy property, get them qualified, and go through that. I’m writing credentials as well, and I make sure that happens.

Attack The Pain

Once you are on that loan, it’s my responsibility. I take it upon myself to eliminate that interest as responsibly as quickly as possible so you can attack the principal. It doesn’t mean you have to pay all the interest first. You attack the minimal interest you need to pay so we can get further into the principal faster to get that debt-free date sooner. Let’s be smart with our money. I can say I know how to do a lot, but there’s a lot that I don’t know. I’m learning every day. You never stop learning, but stop fighting the wind that’s coming into your face. Let’s look to change the direction of your sale. Let’s work with the wind to our advantage instead of fighting it. Let’s stop fighting the interest and move towards that item.

I was told an interesting story, and it came to me as I’m saying this. They were talking about Colorado. It is one of the only states where you have cows and buffalo very close in the same state. When the storm comes in, the cow will run away from the storm. The storm will eventually catch up to them, and they’ll be in that longer because they’re running away. The storm keeps hitting them. A buffalo turns and runs into the storm as fast as possible at the ultimate speed because they’ll have less pain for a lesser duration. Since they’re running into the storm, the storms move the other way and they’ll get through it faster.

It’s an interesting thing. Not that we want pain, but we need to assess where we are. Instead of having it go longer and make it a part of your life, sometimes, you have to attack, go in, finish it, and have a better life as a result. I know it’s an odd explanation. I could share it more with you, but the bottom line is I’m about solving problems. I don’t run away from them. I solve them and I will run into them, but I come in with the best solution for the best resolution and get on the other side.

You’re hoping for a better solution. You got your head in the sand, looking away, and hoping that it’s going to happen. I’m telling you, there is a way. Let’s explore it together. No obligation and we can see if it’s right for you. I’ll be the first to tell you it’s not right for you, but let’s see if it is. Are you the cow or the buffalo? It’s a funny story there. Are you trying to run away and hope it just goes away, or are you attacking it and seeing a better tomorrow? I want to know. We weathered a lot of the economic news and we got our clients doing the right thing. We have a Fed meeting that’s going to be coming up in September 2023. We’re going to see if the Feds are looking to do another one, or maybe it’s a pause then looking at another one in November.

We’re watching those on the consumer side, but on the mortgage side, we’re seeing the end of our cycle of movement in interest rates. We’re seeing some stabilization a little higher than we’d like, but now we’re going to start seeing a comeback the other way. As we do that, we’re making the right decisions with the right cost, seller, and credits in what we’re doing, not spending exorbitant amounts of money on our purchase closings.

Closings are occurring. It’s not the volume as it was as inventory. As we get now into the end of the third quarter, approaching the final parts of 2023 and the holiday season coming, we’ll see who is serious and who wants to make moves, and do items. However, we’re going to take a look and make these decisions together, understand the consequences of these decisions, make the right move to eliminate those debts, and be in a position to take advantage of other opportunities in the future.

Home Loan

There is a lot to be said, but it’s gathering information and documentation like the perfect financial GPS when you have to have the right information to get the right information out. It’s the same thing on a home loan. We need to know. I don’t want to have surprises and cause things not to happen the way you count it on. It’s gathering the tax returns, bank statements, pay stubs, identification, and all the information needed pertaining to the loan and what you are doing with your finances so we can get accurate approval. Also, you can go out and make the decisions you need to regarding the home.

Once you’re in escrow, we’re making sure you don’t have new obligations and you’re pushing out. I’ve been sharing about the changes in homeowner’s insurance, so you want to make sure you line up your homeowner’s insurance for a property you have or a property that you don’t have at the moment. As people are doing refinancing and raising their loan size because they’re pulling cash out perhaps, we have to increase the coverage for guaranteed replacement of that property and make sure the loan is covered.

We want to make sure that the insurers are still writing what the increase is going to cause and knowing what that number is so we get the right qualification. We’ve been looking at equity lines of credit and loans to do. Sometimes, the equity line. Even though it has a higher number, it’s cheaper because interest rates are not alike. It’s how they’re paid and determines what they are. That level of interest for 10 years at 10% was the prime. If it stopped going up, it may even come down a little bit. It’s lower than a 3% amortized debt because that amortized debt is front-loaded on interest until you hit 50/50, as I said, 18 to 22 years in.

The equity line is cheaper than our first mortgage. It doesn’t mean you go good in the equity line and dump everything on the first. You don’t want to have that volatility of, “Are they going to close my line if the ground shakes?” as we did occur upon where that is. You can utilize that for an item once that your debt or item that you used it for to get paid. You can use it one month at a time, and I can show you how you can eliminate months or half a year at a time from your existing first mortgage. One month at a time using your equity line and setting it and doing the same thing again.

We keep replenishing, doing, and showing you, but having the perfect financial GPS shows you how to do that, and you can get further and further in your amortization schedule, knocking out principal faster. You could try to mimic this, but you also will get to mess it up. You could have two debts, then you could have more debt than you had before and go, “What do you mean? You told me to do this. Now I got more debt and I can’t do this. I can’t afford the month.” That’s not what we did.

You tried handling what the perfect financial GPS can do for you as one of the other principles that can be done rather than only doing one. You could do eight at the same time and get further ahead. That’s what I want to show how this can be done. I’ve taken my debt from 26.4% years on the home that I bought down to 7.9% years. I’m very happy about it. The key is maintaining income and strategy and staying on course following the plan. Based on following the plan, there are guarantees to that plan, but it’s staying the course.

You can go off course in many different ways and times. Maybe 7.9% goes to 8.2% to 8.6% and you buy this and do this, but 8.6% was a lot better than the 26 points some odd or the 12 some odd that I was doing on my own. Again, the goal is not to go off course but to be predictive, understand, and be able to see what needs to be done. I’ve had a few couples be able to use predictive analysis for social security, whether they’re taking it now, a little bit later, or even later, knowing what that means to their debt structure and what would be a better decision. They’re taking the lesser amount or waiting for the higher amount later but knowing what that meant not to be paying certain amounts of interest that they owe now.

Eliminate Interest

It’s solving for all those variables and it does it instantaneously. The opportunity was designed and it took millions of dollars to put together over many years. It’s been doing that now for quite a bit. It’s been doing it now since the early 2000s. It’s been doing very well for many people. The program has seen interest go away for about $2.5 trillion by individuals who are utilizing the opportunity to eliminate interest sooner. I want that to be you. You don’t need to go full term. Now we’ve seen interest rates go up. Going back to a chart that I see in front of me, in 1953, interest rates were 3.25%.

We saw them dip down to 3% in ‘54, and then we were going up a bit all the way through and through. We saw it start rising until the end of the ‘70s and then we went into the early ‘80s. Some of you remember that. In 1981, we were at a 16.63% average interest rate on a 30-year fixed, and now we’re at 7%. Historically, it took a long time to get back to the 7s. It was 1993. I got started in the business in 1987. The average interest rate was 10.21%. We were excited when we broke down below 10%.

In 1991, when we got below 10%, we were so excited, then it went to the mid 8.39% in ‘92 and 7.31% in ‘93. In ‘94, if you remember, we had some issues and some problems. We’re also on the ground that shook out in Northridge, California. We saw things go up to 8.38%. It was a very difficult year. How do you finance things that are yellow and red tagged? That was a fun thing, but we saw interest rates start coming back down in 7s.

That took us about 1998 before we were below 7%. It’s almost where we are now, but in 1999, the 7.44%, we started going up again. In 2000, it went up to 8%. In 2001, we were about where we are now, then we saw it falling and falling. We then had some temporary increases to the 6s again. It came all the way down to 2.65% in 2021. It’s a hell of a journey. We had people getting interest rates of a lifetime.

Many of you still enjoy this. You’re enjoying the monthly payment, but you’re paying a lot of interest. I’m not telling you to go get rid of them. I’m telling you to pay them in a better way. Let me show you how you can avoid even further interest and get closer to paying the interest that you signed up for and didn’t sign up for because you knew, or maybe you didn’t, what you were signing up for. You signed up for an amortized loan that was front-loaded and paid a majority of the life of the interest over the earlier years. That 2.65%, 2.75%, 3%, and even 4%, you’re paying 70% or 80% interest in the earlier years.

I want to get you on a better path. I want to attack the principal faster and eliminate that interest and that debt sooner. Some of you are saying, “If I do that, I’m losing my tax break.” If I’m saving you a dollar and your tax break is half of that at best and if you have that philosophy, let’s do you a favor. Let’s refinance the loan and give you a higher interest rate so you have more write-off. It doesn’t work that way. Talk to your tax preparer about that.

I want to make sure you keep more money in your wallet, and I want you to open your eyes to something different. Something that no one’s bothered to share with you. I want you to stop walking into the wind, and let’s change your sale and have you go better. Be the buffalo. Let’s get you through the storm faster because you’re not going to avoid it. You’re going to pay for it.

You can catch our past programs on our website at YourRealEstateLife.com or United4Loans.com. This upcoming week, we have some news and items, but Monday is a quiet day. On Tuesday, we have factory orders and durable goods coming out. Wednesday, we have our trade balance at ISM Manufacturing. On Thursday, we have productivity and jobless claims, as always. On Friday, hostile inventories and consumer credit. We take a look at these items and see what effect it has in the trades and look at what they do in the bond market and the mortgage-backed securities.

Choosing An Interest Rate

On any given day, we may gain an 8th or lose an 8th up and down in fees. Fees aren’t necessarily rates. It takes a number of fee movements in order to then produce a rate change. If we’re moving an eighth in the rate, maybe we’re moving 12 or 15 basis points in the mortgage-backed securities. When we have a day that moves 30 or 40 basis points, that can be in 8th in the rate. It takes a little bit in order to make that change. As far as choosing an interest rate, why one versus the other? It depends upon the market, the trend, and where things are heading where certain rates are more expensive or less marketable for them on the security side.

I know I’m getting a little more specific, but if we’re talking about saving a certain amount of money by buying a rate lower, how much does it cost to buy that rate lower? How many points or discount points is it costing you a percentage of your loan amount to gain that better rate? When is the break even on that rate? How many months does it take to gain that money back? Is it two years or longer? We have to understand the timeline of the property and the cost of doing that and making sure the money is spent wisely.

In this market where sometimes gaining seller credit could be utilized to pay for fees and costs and get in maybe for a down payment only. That’s possible. We have bond programs that allow different items and different area median income opportunities to go zero percent down. We have loans that are at 1% down. We have loans in FHA at 3.5% and conventional at 3%. There are many different programs, but the zip code and the area matter in some of these programs.

We want to be careful, understand, and make sure you’re prepared ahead of time. That’s getting pre-approved for the market that you’re looking to buy. You need to make sure when you’re looking at a townhome or condominium. You’re looking at an association. You want to make sure about litigation, and you’re looking at rental ratios perhaps. You’re seeing if it’s a qualified location. Maybe it’s outside the box, or I have to look at something or a loan that could fit and make sure it makes sense, but that could change the qualifying rate.

All of these items need to be taken into consideration, and that’s why it’s sometimes very important to talk to a professional, a realtor, or a mortgage loan producer ahead of time. It’s gaining your documentation and information, making sure you are on the right spot, and getting your credit in the right spot in order to have the right scores to utilize and gain the right result. If your scores are lower, you might be paying more for the money. You’re at higher risk. Sometimes, you won’t qualify for low-down payment loans as well with that lower score. It matters.

We want to look at it sooner versus later. I don’t want the emergency. I want to get you when it’s not so we can gain it and make it better. If I start the game, I come out for the opening pitch. Together, we’ll control the narrative. I can come in a middle inning, mop-up and relief, and make it better perhaps, or even at the end of the game, and come in the 9th inning and save the game. Why put that stress on you or even me if it’s not necessary? Let’s start together, analyze what we have, come up with a game plan, and put some actions to work, whether it’s monies, gift funds, other items showing up, explanations to bank statements with non-sufficient fund items, and various things that may or may not pop up.

We want adequate time in order to have everything look as it should so you can gain the best result, earlier versus later, the front of the line versus the middle or the end, or missing the line altogether and coming in for whatever is left over. Let’s work together. I want to be on your team, be your teammate, and work with you. I want to make sure you’re on top when it comes to your finances and all the way through once you have your property. If you have a property now, I want to help you eliminate your debt sooner. I’m not changing your lifestyle but doing it more efficiently and effectively.

Each week, for several years, we’ve gone through different cycles, different markets, and different priorities. Money was falling off the trees. You can go get a rate of such and such. When you got started, rates were falling, and who cared? In different markets and at different times, you need someone who’s on top of it and gaining you the right results.

I shared with you that when I started the business, rates were over 10%. People were saying, “You missed the refinance,” because interest rates were up at 16% in the early ‘80s. When I got started in ‘87, I missed the cycle. In ’85, rates were 12% and then went down in ‘86 to 10%. Everyone in 1986 was refinancing and getting out of their higher interest rate, and I got started right at the tail end. It was all the people who waited.

It took us until 1991, 1992, and 1993 in order to get that next set of refinancing, but I was there during the purchase market. The name of the game then was, have you lined up your co-borrower? That verbiage is coming back because it takes an extraordinary amount of money to afford the prices and the loan amounts now compared to the loan amounts then. It’s about being prepared and understanding.

I still have clients who email me and text me and say, “What are the rates now? Are we back down to 5%?” No. When I mention we’re at 7%, “Oh my gosh.” We need to understand where we are, what can be done, and what we’re doing with our finances. You need to look at your balance sheet and what you can do for yourself. Sorry to say, not waiting for someone else to do it for you. I need you to be engaged with your own finances. Hoping they go away and it takes care of itself isn’t usually the best solution.

I don’t want to come down as a person who’s this pushing and pushing, but I’m not. I want to make you aware. It’s about getting an education on something maybe you don’t want to know about. I had a client. Numbers are in his thing, but we completed an equity line of credit. That equity line of credit would pay off more expensive items, put them in a better position with his existing first mortgage, and utilize those monies in order to eliminate higher rates on items that he had coming out of what is called a forbearance. You remember that during COVID.

People and lenders are even putting people on forbearances on their loans when they even ask for them. That was fun. What happened was the loan got sold to another servicer, and then they asked for all the money due. Some people didn’t have it, then they were scrambling. They add a qualify, but maybe their job was not the job that they had before, and qualifying became a problem. Many of you who did your other jobs and self-employment are hitting your two-year cycle. You got two years behind you on that job.

Maybe it’s time to assess what we can do for you, help you, put yourself in a better spot, or get rid of some of that high-interest rates stuff much sooner. With a perfect financial GPS, let’s explore this. Let’s take a moment. You’re reading this for a reason. Write down the number (888) 543 3980. We’ll talk more about debt. It’s a bad word. I know that. It’s a four-letter word that we don’t want to talk about. I got it, but I want to help eliminate that much sooner. I want to effectively challenge you to write down our number, make a phone call, and say, “I’ve had enough.” Let’s see what we can do together.

If you like, I can send you a few different links that you can look at about what I have in mind to help you. You can let me know what you think. If you like it, you don’t, or you want more, let me know. We’ve been very busy meeting with individuals online, assessing what their needs are, coming up with solutions, and gaining their numbers. I want to know your ins, outs, and income. If you have Uncle Johnnie running a room and he’s paying you cash, I want to know that incoming number because it’s part of your budget.

That’s not what we want on a loan but on your budgeting, I want to know. I want to know how much you’re spending on gas, groceries, and your cell phone. What are your numbers? Your gas, electric, waste management, and pest control. I want to know the car insurance, whether it’s monthly, quarterly, annual, or semi-annual. Are your property taxes impounded? Are you paying monthly through your mortgage? If not, what are your taxes? What is your insurance? Do you have life insurance? Do you have disability insurance?

All the outlays and everything you have, I want to know. Do you have student loans? “I have no idea how much I’m paying.” We’ll figure that out. I know it’s coming out in October, but we want to understand everything that goes out and everything that’s coming in. We’re looking at discretionary monies at the end of every month. There are many different agencies and people, “Oh my God, discretionary. We can spend that.” I’m not looking to spend it. I’m looking to allocate it properly with the right timing to the right due dates, statement dates, and types of debt, and run those items and get the perfect result.

That perfect result is going to eliminate that interest debt sooner. You’ll be amazed how much it makes a difference. You think of that interest you’re not earning in your checking account that you should be having in a 5% account somewhere else that could be transferred at any time. We could discuss that, too, if you were gaining some interest in any amount of money, pennies even. The perfect financial GPS doesn’t care how much it is as long as it is. It’s utilizing that to make a difference and a result if it’s $0.05, $0.10, or $0.20. It’s going to tell you the right date of transfer, movements, and items to the penny to gain the right targeted result for the best opportunistic answers as soon as possible.

Your Perfect Financial GPS

If you throw a curve, it’s going to make a pivot and change. It’s going to tell you what that did but it’s going to gain that result the fastest way possible. You’re not going to New York and traveling in the other direction to get there. You’re going on a direct route the fastest way possible and we want to get you there. Back in the old days, and some of you remember and some of you may still have them, your glove compartment. What’s in there? You got road maps. You remember those big roadmaps. You unfold them and you can’t figure out how to fold them back and you go, “Oh my gosh.” You throw them in the back seat and will do it another day.

Now what do you do? You pull them out, put them over the dash, and you can’t see. You got a pullover, but you’re doing that now on your perfect GPS in your car, on your phone, or wherever the case may be. They’re even telling you the satellite. It tells you where the traffic is. You are putting in all of the perfect information, not your account number or your name, into a perfect financial GPS so you can get the perfect outcome with the right choices that you have in front of you.

It doesn’t control your accounts. It’s not making your payments for you. You still drive the car, at least in our current environment. The perfect GPS tells you where to go and what to do. You could still make mistakes and it’s telling you to get back on course and recalculate. You have things that come up in your life and it will do a recalculation. It’s not much different but it’s perfectly done to your finances.

It’s utilizing current technology for a better result. It’s doing what the banks and the insurance companies have done for years. It’s utilizing your money more effectively rather than them using your money more effectively and you’re losing it than trying to figure out where the hole is. It’s been right in front of you. Let me show you what we can do to assist. If you choose not to do anything, that’s fine, but you at least now have the information.

We have Tuesday night webinars at 6:00 PM on the West Coast. You can sign up and register. Go to our website or send me an email at Webinar@AheadForMoney.com. I could send you the information for the invite, but you can also let me know if you want me to send you information ahead of time or if you can’t even attend on Tuesday but want to get the information. I’m more than happy to send it out to you.

We can set up our own individual meeting that’s not Tuesday evening. I have no problem with that. Usually, I would like to see about an hour so that I can get to know you, what you’re looking for, and what you currently have going on so that we can go over the opportunity a bit and give you some information to look at. After our meeting, we can come back to the table and talk again. Maybe then input your numbers and find out how much money you can potentially save. All that’s done. There is no cost and obligation. It’s just great education and information that I need and want you to find out more about.

It’s crazy because you’re spending too much money. As I always say, your lender loves you. You don’t need that kind of love in your life. You need to make it stop. This is part of making that stop, then your lender is not going to love you even more. They’re going to love you a lot less because you’re going to be responsibly becoming your own bank.

We’re still helping seniors on reverse mortgages when it’s appropriate and possible. It’s taking a little bit more equity and property with interest rates where they are. Some of our older clients are being able to get that help. For some of the younger eligible clients, it’s a little tougher, depending on the equity in the property to find eligibility. We’re utilizing some middle-of-the-road-type products where we’re able to do partial payments and gain the benefits of a reverse. Maybe after ten years, we could talk more about that, but we can look at where you stand, what you owe now, what the properties are worth, look at the actuarial tables, run those numbers, and see what we can do.

Worst case, I’m telling you it’s not possible and why. In the best case, it is possible and you’ll have optional payments on a reverse mortgage. We’ve had individuals utilizing a reverse mortgage for purchase loans, taking the equity coming out of a sale, utilizing a portion towards the purchase, and having those optional payments to the new loan. In some cases, retaining some of the equity from that sale. Check with your tax preparer. You want to make sure what you’re doing with capital gains, items, and exemptions with home improvements and whatnot from the sale, depending on what you’re doing.

Also, check about transferring your tax on your existing if it makes sense. You want to see what we can do to save you money on that expense also. We’re keeping our eyes and ears open all throughout the transaction. When the timing is needed to do these items, you have professionals all throughout your process from your realtor to your tax preparer and even the state planning attorney.

As our monthly, we have Marisha Charbonnet join us on our program. We’ve had her talk about various issues from children and trust to your trust to making decisions about changing title on a property and what that means. You don’t do it and then say, “What did that do?” You find out ahead of time. She’ll be back on our program talking about another topic of concern. We’ve had many individuals that I’ve been able to refer to her on a pre-basis rather than an emergency.

She’s been able to talk people through their various items on trust, probate, and other issues as well. If she doesn’t have the answer, she has a network of professionals that she would be able to get involved. I’d always like having that at my fingertips, whether it’s insurance or going into other items. It’s always knowing that I have a network of individuals that I can rely on to give the proper advice at the right time.

The same way if I got a loan that came in and I’m not handling that state. I may know great information, but on that, it will be a little closed alone in that state. I have professionals in a lot of states that I can refer to who can get the job done. They’re not affiliated with my company. I get nothing for that other than the satisfaction that you got the right advice for the right reason and a successful close to your transaction.

I’ve had transactions being done in North Carolina, South Carolina, Florida, New York, Pennsylvania, and other states that I’ve been able to refer to. Again, I left off the state that you’re looking for in Tennessee and others. I can refer you to a proper professional in those markets. I’m looking to close loans from my company in five states, California, Colorado, Montana, Texas, and the State of Washington. Outside of those states, I can handle up to 30 other states for investment loans and debt service coverage ratio loans We cover that in other programs.

Your rent is offsetting the cost of the loan, the Principal, Interest, Taxes, Insurance, and the Association, PITIA. We can also then look at various percentages of that coverage. It changes the rate, but we will look at the best opportunistic items for financing those investment properties, whether you’re a first-time investor or buying your 100th home. We can look at these opportunities for you to create more revenue coming in for each door that you attain.

We’ve had people doing units, 2-unit properties, 3-unit properties, or 4-unit properties. They’re even doing that by buying a property and qualifying. They’re even using their VA and getting rent on the other three. We had an individual do that on a reverse mortgage. They moved into one unit. This was a three-unit. They rented out the other two units, created income, and didn’t have a mortgage payment that they had to pay. They turned it all around, removed the mortgage payment, had their taxes and insurance covered with the other people’s rent, and had income on top of it. Those things are possible.

These are things that I like to talk to you about. Understanding what is out there, what’s possible, and having your realtor involved because they know the market and the ZIP code that you’re looking at. Understanding that they are your best eyes and ears because you’re visiting, then you’re going to be living in, but you might be visiting that zip code. You need to have the best person to show you around, understand the ins and outs, and then understand what financial direction you can then enter in.

That’s gaining your documentation so we can make everything look better with the timing that you allow us to have. We’ve been able to increase credit scores when appropriate or possible. We’ve been able to handle items to bank statements, cashflow items, and making things correct rather than unexplainable. We will look at self-employed individuals mapping out 12 and 24-month bank statements and looking at cashflow as an alternative when qualification is not as possible.

These things can be done, but it takes you to think ahead and make a call. The call is going to cost you nothing, but not making the calls will cost you thousands. It’s (888) 543 3980. That phone call will save you thousands of dollars potentially. I want to take a look at what you are doing now. You may say, “I’m not buying. I don’t need a refinance. I have a low interest rate. Why are we tuning into this program?” You’re tuning in for a reason because I can show you your 3% loan could be under 1% effective interest. Not refinance it but by doing some smart things that nobody has bothered to show you. Let me show you how.

Throw me your name, your email, and tell me, “Send me the information,” and I’ll get it out to you. That easy. You can email me. I’m taking the webinar email because we also have our webinar on Tuesday night, but email to Webinar@AheadForMoney.com. When you send an email there, I can send you the information for the Tuesday night webinar, or you say, “I can’t go on Tuesday. I’d like to set up another time.” I’ll send you a Calendly invite so you can set it up on the calendar, and we can fit our schedule. You can say, “Send me some information. I want to look at it first. I don’t believe in this stuff. Send me some stuff and I’ll let you know what I think.” I can send you a few links.

When I do that, you let me know what you think, and then we’ll take the next step, but ultimately, it’s to save you money. If I can’t save you money, we’ll part, and I’ll let you know it’s not right for you. Under most circumstances, even if you have a mortgage, I can help. If you don’t have a mortgage, you rent, and you have other debts like credit cards and other items, I want to work with you. Pick up the phone and give us a call at (888) 543 3980. At our website, I look at when people come on and what they’re doing. I want to take a look at that and make sure we’re conscious about what’s working. Now, in the debt space, we have trillions of dollars of debt. The goal is to gain the ability to eliminate that debt, but it takes you to want to. Some people say, “I don’t care.”

That’s fine. You’re not right for the opportunity. I could talk to an individual 62 years of age and I could get him debt-free at 70 and his current plan was to be debt-free at 90, it makes a big difference and you’re going to be able to sleep at night. I’m Mike Harris, President and CEO of United Mortgage Corporation of America. What kind of loan do you have?

Important Links

• YourRealEstateLife.com
• United4Loans.com
• Webinar@AheadForMoney.com