The Fed Was Quiet, The Markets Were Not

• October 30, 2023
• realestate
• Podcast

The FED was quiet lately. Despite this snooze, the real estate market is currently on fire. In this episode, Michael Harris talks about the upcoming employment cost index, ADP employment report, homeowners insurance, and a lot more. He also breaks down the many benefits of having the perfect financial GPS program, doing delayed financing, and cutting down your interest volume.

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Listen to the podcast here

The Fed Was Quiet, The Markets Were Not

Thank you for joining us. As I’m looking at the economic calendar, we’re still looking at quite a bit of things happening, so we’ll keep an eye on that starting on Tuesday. We’ll talk more about that later.

We’re here talking to you about your real estate life and what we can do to help you save money. Right now, some of you are saying, “I’m not selling. I’m not getting out of my 3% and 4% interest rate loan or even my 2% rate. Where am I going to go? I’m going to go get 7%, possibly an 8%? I’m going to increase my payment.” In some respects, you’re right because it’s about cash flow. I can also tell you that sometimes interest rates don’t matter because it depends on how you pay them. Interest rates are not created equal.

If I told you 13% is better than 3%, you’d think, “I’m off my rocker.” Why would 13% be better than 3%? It’s because one’s amortized and one’s simple interest. Simple interest at 13% is 13%. An amortized loan at 3% is closer to 64% interest, at least when it starts. It’s going to be there for some time until about halfway through or a little over halfway through, maybe 17 years through, give or take, you’re going to see it at 50%.

When you closed your home loan, you had your loan information sheet and a closing statement. On your closing disclosure, you saw a number that was a large percentage and a huge dollar. What is that? That’s what you’re paying over the life of the loan. You not only bought the home for the price you bought it for, but you also paid twice as much for it because of the interest you’re paying over the life of the loan. Mind you, in 5 years or 7 years, maybe you sell the home. You’re not going to be there the whole 30 years, so that’s not the number you’re paying, but it’s loaded a lot heavier for the interest volume on an amortized loan.

On that amortized loan, it’s heavily weighted interest early. When I mentioned 3%, 64%, mind you, it’s 7%. It could be over 80% initially. Take a look at your statement. Go online or take a look at it if you get it still in the mail. Look at the percentage of interest you’re paying as the total of that monthly payment. Now, take out the taxes, insurance, and any PMI. I’m looking at principal and interest. As the ratio of that principal and interest, that’s a high percentage of interest you’re paying on that payment because it’s being loaded in. If you look at an amortization table or chart, you go 28 to 29 years in non-interest, and you’re almost all principal in payment. It’s because all your interest is gone. You paid it a lot earlier.

The goal is to gain those later timelines faster. The more you can eliminate those earlier payments, the more you’re eliminating all the interest that’s loaded up front. If you were able to eliminate months and years of that amortization schedule, you now have the ability to get that much further ahead on your interest. I’ve seen examples on $650,000 loans where the payments are 3,200 and change at 6.5% or $36,700. Looking at the end of six months, they only reduced their principal by $3,200, less than one payment. We need to chunk this out and move it further by not coming up with more money but utilizing money more effectively for you. It’s not about following the bank’s plan. It’s eliminating debt and creating wealth. I want to show you that path, no obligation.

(888) 543-3980. If you’d like to join us on a webinar on Tuesday evening at 6:00 PM or you cannot go to the webinar, but you have a better time in mind, I’ll look to adjust the calendar and do that with you. Webinar@AHeadForMoney.com. You can register by sending me an email. I’ll send you back the access. I’m also going to give you some links to review. I want you to be more familiar with the opportunity. I want you to see your thoughts so we can discuss them further.

I’ve been in the business now for over 37 years. I’ve been on radio over seventeen years, coming to you, talking to you, and helping save you money. Whether making the right decision at the right time for the right program and for the right reasons or making you aware of various items you can do to save more money, I’d spend your money the way I spend mine sparingly. I want value for my money and so should you. These are the things that I think about each and every single day.

When I have a client, a new client or a past client, whether I’m on the phone with them or meeting them in person, I want to make sure we understand and look at all the available options and understand your goals. Whether you’re looking to be in a property for a shorter, longer, or permanent timeline, have the property in the family, maybe turn it into a rental in the future. Understand the goals and what lies ahead, and then have the option to take advantage of other things as they may occur.

A Perfect Financial GPS Program

What I have incorporated into our opportunities of late, I’ve incorporated a perfect financial GPS program. There’s only so much I can do. I always thought I was very good, but I’m not perfect. I’m not making the right decisions at the right time every single time. I do it pretty darn good, but I was leaving money on the table myself.

I decided to have a perfect financial GPS program. I always liked someone smarter than me in the room who didn’t talk back, but letting me know better what decisions to make at the right time for the right reason. Using the eight principles of money, timing, rates, availability, scheduling, or all these fun little things that we don’t think about occasionally, doing it perfectly every month, so you have the best path to become debt-free.

As you’re driving right now, some of you are not using your GPS, you know where you’re going, but some of you have it programmed in. You just missed the turn and said recalculate. It’s now giving you the best position possible or to take in order to get back to your destination endpoint in the fastest and most efficient way possible. Technology allows that now. If you’re able to do that with your finances, keep every dime, nickel, or dollar you earn to the best of your ability and make it go further for you, rather than sit here and figure out what to do or get another job. I want to show you how you can utilize these money principles to be further ahead.

When you made certain decisions in the past and it made a tremendous difference, you were very happy. If I told you that I can show you how I can lower your obligations in the interest you pay by as much as a third or half, I believe you would want to know more. That’s the commitment I’m making to you. Spending that time with you, understanding your goals, your relationship with money, the wants, the needs, what you’re looking to achieve, whether it’s eliminating debt, creating wealth, growing assets, or perhaps freeing up money to have the coverage that you want to have for you and your family. Understanding your goals, we could design that path together. I’ll do that with no obligation at all.

We’ll even chart that path. We’ll come up with those results. We’ll come up with what’s possible. Still no obligation. We’ll meet for the first time, no obligation, just information, fact-finding, getting to know each other, and understand. In the second meeting, I want to run your numbers. I want to run your debt-free date. I want to see what we can do. I want to see a benefit for you. There’s no benefit? Good time spent, good understanding. You now have a plan of action or understanding, at least.

If I can show you how to save 10, 15, 20, 50, 100, 200, one client recently, $414,000 in interest not paid, I think it’d be worth the time to have a conversation. Email me at Webinar@AHeadForMoney.com. What I’m looking for is name, email, and phone number. I’m going to go ahead and send back to you the information to access the webinar. I’m also going to send you some information to review prior so you get more familiar.

If you cannot attend the webinar, that’s fine. Once you review the documentation or links I send, let me know your thoughts and then we can schedule a time on calendar. I’ll include my calendar link, and we’ll schedule a one-hour time where we can get together and discuss further the direction that we can take or provide for you. My calendar does fill up fast on certain dates, different times, and in the middle of the day as well, but I’m available for you.

Again, it’s a one-hour time slot. I’d like to respect those one-hour slots because I may have one before or even after the one that you’re scheduling. If you’re not seeing those openings, call me and we’ll figure this out, (888) 543-3980. We’ll see what I can do to free up that time or have you do a little bit of stuff in order to get further in the process so we can get a timeline that fits both of us, but I want to get you on the calendar.

Sometimes, we have to make certain decisions in order to move forward. We can’t change the past, but we can change the present and the future. Those are the things that I’m talking about. I need you to get out of your own way. Stop fighting the wind. Let’s change the direction of your sail and let’s go further down the path. Let’s make things happen. Let’s see what we can do and make a difference.

Homeowners Insurance

Rates don’t matter. It’s how they’re being paid. Whether it’s simple interest, amortized interest, or timing, all these things matter. Every single penny matters. Last time, discussed a little bit more about homeowner’s insurance. We’re finding out how our pennies are going somewhere else, but we’re finding out on renewals right now that some people who have had insurance policies for ages are not being renewed because they had a claim twenty years ago. They’re going up 39%, 50%, 100% or even more. They’re trying to figure out what to do.

I had this happen to me. I went up 39% and I was lucky because many people have gone up a lot more, not renewed at all. When I looked at the policy, I was looking at the last time I filed a homeowner’s claim. Now I remember back with the earthquake claims, I had earthquake insurance, which I still do, and I had all that. Have I had a fire? Have I had a flood? What’s going on with my home? Is it a good repair? What am I anticipating? What could I possibly be thinking about claiming? I’m not going to claim $100 theft or anything. That’s crazy. It didn’t meet my deductible before.

In looking at some of the options for what you have, you might have close to a 1% deductible right now. Ask your carrier. Investigate a 2%, 3%, or even up to a 5% deductible. See what’s possible. See what you’re comfortable with. If your annual premium was going to go down 50%, that might be a comfortable monthly or annual premium that you need to lower right now. If you’re trying to tighten the belt, that might be a place for higher rates or higher items that are occurring. I was able to cut premium in half from the new premium quoted to me by going to a 5% premium from roughly 1%. I could have also chosen 3% or even 2% and kept my premiums very similar to what I was paying before.

It’s a question of your priority. Are you looking to save money, keep money the same, or keep your coverage the same but pay a little bit or a lot more in some cases? Take a look. Talk to your insurance carrier about that. That’s my public service announcement. A lot of that has to do with qualifying for home loans as we look at refinancing, consolidating debt, paying off credit cards, doing items, and getting you on a better path. We look at purchase loans. We’re looking at the ability to gain homeowner’s policy quotes, first-time buyers getting insurance, repeat, moving up, moving down, whatever the case may be. You want to investigate the ability of you to gain insurance on that property for that said ZIP code. Very important.

Talk to your realtor about their experience in the ZIP code in the marketplace. They’ve had deals and transactions that have closed. They understand who’s writing, who’s not, what the costs are, what the dilemmas are, and maybe headaches that they’ve experienced with someone who was not prepared, so be prepared. As a lender, we’re still offering lender credit on our Fannie, Freddie, and Jumbo loans. We’re offering $400 for every $100,000 of loan. That’s $2,000 for every $500,000 and $4,000 up to $1 million. We’re looking here to give money back towards closing costs. I want to try to keep those closing costs under control. I want you to spend those funds in your home, not around or getting to that position. We’re looking to do a lender credit.

Sellers, I’m talking to you. Why? Because I am. You have the ability to offer your buyers loan credits to allow them to buy down their interest rate rather than lower your sales price. As long as it appraises, you’re looking to utilize those credits to have them buy down their interest rate by prepaying their interest so they have more affordable ability to buy for that year’s time.

If you took an interest rate of 7.25%, and let’s say we were able to premium buy that down to 6.25%, and we took the difference on the interest from 6.25% to 7.25% for 12 months, whatever that number may be. That is your credit from the seller to the buyer for a rate buydown. That buyer now has a 6.25% rate for that year, and that might be the year they need to get accustomed, adjust, and perhaps gain their deductions and tax benefits, but also maybe time a slightly better market on interest rates. It makes your property more attractive.

A Property With A Loan

Sellers, do you have a property right now where you have a loan? Is that loan FHA or VA or potentially assumable? You have the ability to market that property or that loan as assumable at the rate you have now. The caveat, it’s the balance you have now. Depending on your sales price and the balance that you have, they would’ve to come up with that equity difference.

A buyer can obtain an equity line or a second mortgage that goes behind that assumable to now have a better blended rate or average, depending on your current rate. They could be considerably lower than the 7% or even 8% that they would be getting in the open market. If their blended rate was at 5%, fantastic. At a later date, they can decide to refinance and consolidate that, sure. Talk to me or talk to a professional about those possibilities.

You veterans out there, depending upon what you’re doing with your VA benefit, remember that VA benefit will stay with that property. I want to make sure you’re aware of that. We can go over all those details, but it’s about making your sale more attractive to a buyer. These are ideas that I’d love to discuss with you. I don’t list. I don’t sell. I lend. I also help you put together a plan regarding your financial future, looking to eliminate interest sooner by eliminating interest volume. A perfect financial GPS program to allow you to acquire even property and have a 30-year loan, but watch that loan get paid off in as little as a third or half the time without changing your lifestyle. Your effective yield will even be lower than what you think.

We’re working with divorce professionals because valuing that in a divorce and valuing debt is different. It’s in the eyes of the person who understands. We’re talking to realtors. Realtors are benefiting tremendously, especially from their investment clients and their investors who are buying more doors because they’re creating more wealth by eliminating debt sooner, eliminating interest, being able to buy another property, and creating additional rent coming in and more wealth. We’re talking to insurance and financial planners who are able to put together a better plan, freeing up discretionary for additional items that they can do for financial protection and wealth accumulation.

I’m talking to you professionals out there. Give me a call, realtors, insurance, financial planners. I want to talk to you. CPAs. We’ve had two CPAs this past week. We reviewed some of the material. They’re looking to move forward. They want to help their current clients during tax season and looking to eliminate further interest.

Join me on Tuesday evening for a Tuesday night webinar at 6:00 PM, Webinar@AHeadForMoney.com. That’s the email. With that email, I’m going to send you back the invite with the information to join. You don’t need your camera on. You don’t need to do anything else other than watch and understand. I’m going to send you some information and some links to watch as well. You can do that on your own time. Get a little bit more familiar. You could reach back to me. Set up a time on my calendar as well. I don’t want to monopolize your time. I just want to make sure you have good information. I want you to save money with that information and it’s not going to cost you to find out.

Delayed Financing

I was going over statistics from last month and I was looking at some of the sales and we were looking at 395,000 sales that occurred the past month, but 29% of them were cash. People got money out there and they’re paying cash. Some of them are paying cash and possibly doing what is called delayed financing. They’re looking at the marketplace and they’re seeing what makes sense. Some of them were getting equity lines with the free and clear properties. What they’re doing is getting a line of credit, which is interest only, which is simple interest and not amortized interest. They’re paying on what they owe and then they’re able to reduce principle as they choose.

Even if they’re getting a rate of 10%, 11%, 12%, or whatever percent, that’s lower than the credit card, that’s lower than the amortized math of your loan. Even if it was 3%, it’s 60%-some-odd. I’ll show you how that’s done. These individuals are paying cash and then getting a line of credit after the fact. There’s a lot of planning going on there. We’re helping people with equity lines and putting those into place. We are doing some debt consolidation because some of these credit card companies are still up at 30% or a high 20%. Your overall balance of what you owe is not the average at $8,000, which is the national average.

Some of you have $30,000, $40,000, $50,000 or $100,000 in credit card debt and it’s throwing your blend out of whack. Someone has $100,000 in credit cards and says, “I’m protecting my $80,000 first at 3%. You got $100,000 on credit cards. It’s over what you owe on your first. Even if it wasn’t over, if it was close, or even slightly out of whack the other way. What is the blended average that you’re paying? You’re protecting something that’s hurting you.

If you were able to blend it, you might be lower overall than it would be averaging them all out. I would show you how we would attack that with our perfect financial GPS program and showing you how we would take off another half to a third of the time without changing your lifestyle. There are things that can be done and they’re not that complicated, but it’s very difficult to do it yourself because you have to have that discipline. The ability to do that daily, every day, every month, understanding the right decisions, sequence, and timing. All of this can be done and done perfectly for you.

I want to talk to you about your real estate life, your financial future, and setting your family up for the right success story. (888) 543-3980. Go to YourRealEstateLife.com or United4Loans.com. Email me at Webinar@AHeadForMoney.com. I want to talk to you. Pick up the phone. It’s been great talking to you in this calendar you are already on. We’re in the fourth quarter. If you haven’t picked up the phone and called, you need to do that now. This is not a trick or a treat. It’s a treat for you.

Interest Rates Up

United4Loans.com. Take a look at the site. We take a look at the marketplace every single day. We map what’s going on in regards to the economy, mortgage-backed securities, and what it means for interest rates. Mind you, interest rates have been up. We’ve been looking at times where we’re in 7% now, possibly in the 8%, depending upon your unique situation. We’ll take a look at buy downs when there’s appropriate, seller credits, ender credits, and various programs with little to no money down in order to achieve your financial goals. We’ll take a look. We’ll look at the timing and see what’s right for you so you can make a decision.

It’s all about you. It’s not about anyone else. It’s understanding what your options are, whether you’re in the market now or in the future. If you’re paying rent, you are making a mortgage payment, just not your own, it’s your landlord’s. We want to investigate what makes best sense for you. We’re approved in five states, California, Colorado, Montana, Texas, and the state of Washington. In 35 other states, we can do what is called DSCR loans, Debt Service Coverage Ratio loans for investors. That’s first-time investors as well, where you’re able to utilize the rents to offset. We can look there.

Starting in the third week of November, we’re going to be having a program that’s coming out under Fannie Mae. It’s allowing 5% down on units, up to 4 units. If you bought a 4-unit property, moved in one unit, rented out the other 3, covered your obligations, 5% down. Not a bad idea. If you’re in the marketplace and you’re thinking about it, you may want to start looking at units, low down payment, and rent to offset. Now, some other lending changes have occurred where you have ADU, Accessory Dwelling Units, you have the rent on those or the ability to have an ADU on your property to use as an offset for qualifying.

FHA is adopting that as well. It’s allowing qualifications to become a little bit easier based upon utilizing income that was not able to be used before for qualification. The money was there. It’s just that no one wanted to use it. We also have bank statement loans, including 1-month, 3-month, 6-month, 12-month, and 24-month bank statements. Depending upon the amount of statements you have, the better terms you get. If you are writing off and you’re not showing the bottom line income and your tax returns are not showing that strength on paper, but you have great cashflow monthly, we can look at qualifying you that way as well.

Whether it’s asset depletion loans, whether they’re non-qualified mortgages such as ITIN loans, Taxpayer Identification loans, no Social Security in the states legally, and working, self-employed or salaried. We’re able to qualify you for as little as an 11% down payment. We’re able to get those loans through as well. Many of those individuals are paying huge amounts in rent without tax benefits. This allows them to get into home ownership. At a later date, if rates allow, maybe we can lower rates in the future. Everyone in the states has no licensing requirements for me; limitation-wise, I can talk to people about a perfect financial GPS program. Whether it’s for you, your family, or those you love in other states, I would love the opportunity to talk to them about their financial future.

Other lenders out there, loan officers, mortgage loan originators, you have clients that you have placed in financing. They’re paying on an amortized schedule and they’re paying huge amounts of interest volume. I want you to pick up the phone and I’d like to show you how you can talk and work back with your current clients without disturbing their loans, but to get them on a better path to financial freedom. I’m not interested in your client. I’m interested in you retaining your client and increasing your reputation and abilities.

I’ll flip the thing chart over here. I’m talking to you, the individual who got the financing. Has your lender called you about eliminating your interest volume faster, eliminating your obligation, but paying what you owe, but not paying as much interest without refinancing? Of course, in this market, it is tougher to do. Have they contacted you? If the answer is no, I’d love to talk to you about a better path without disturbing, refinancing, or taking you away from those people you’d like to work with. I’m not looking at your loan. I’m looking at how you’re paying your loan and the best way to eliminate that debt. Not staying only on the bank’s plan but lowering your debt and creating wealth.

I can work hand in hand with your current representation on your home loan. I can help them to understand the concept to allow you to achieve greatness when it comes to what you owe and how fast you pay it off. A perfect financial GPS program. I met with a gentleman. He’s a mortgage loan originator. He’s done a number of loans over many years. He was skeptical. He didn’t understand. He watched some of the links and some of the videos. We had a nice time talking about it, going over it, and doing some examples on some current clients and some numbers that he had. He was astounded by the results and the difference. I had to calm him down. I said, “No, you’re not calling all thousands or hundreds. Hold on.”

We have to take it in sequence because he can only do so much and get so much done in a given time or day. He was so excited he wanted to start calling everybody because he was client after client. It showed the numbers were astronomical because he had the numbers of these individuals he closed. He had their debts and info, he was able to plug in the items, and he was seeing these results. He just didn’t understand why no one had told them or he hadn’t known about this before.

A lot of times, the person who’s in the industry or in that relevant industry is doing what they do and don’t see. The light went on. He saw the results. He’s so excited. He said he was having trouble sleeping the next night because he’s thinking about so many people he can help. Not that he did something wrong before, but now he has another tool in his toolbox that he can help others. That’s the excitement I like to see and the difference. It’s not about me, it’s about you. It’s about making a difference in your real estate life, your finances, and your budgeting. Make sure you can do what you want to do when you want to do it and do it better.

Upcoming Events

(888) 543-3980. I mentioned earlier, looking at the calendar, it does start on Halloween. We have the employment cost index coming out. Chicago business barometer coming out. Consumer confidence, that’s on Tuesday, the 31st. On Wednesday, which is already November, we will see the ADP employment report, S&P manufacturing, PMI, job openings, ISM manufacturing, and construction spending. Federal Reserve, it’s going to be their decision day. They started the meeting on Halloween and they’re coming out on the first. We’ll have the decision on interest rates about 11:00 our time out here on the West Coast.

Chairman Powell will have his news conference 30 minutes later and we’ll see what happens in the question and answer about us. A higher for longer but not necessarily going higher, but maybe staying higher for longer. We’ll see what the verbiage is and the reaction of the market. There are usually some knee-jerk reactions initially. Thursday, we’ll have initial jobless claims, US productivity, and factory orders. On Friday, we have the big one, we have the employment report, US non-farm payroll and employment rate, hourly wages, and hourly wages year over year. We have the S&P services, PMI, and the ISM services number.

A lot of stuff will be going on as the week is ending, as we end the month and start the new month. We’re going to see where we go, what direction rates we’ll head. Whether we stay or go or come back a little bit. Maybe we’ve gone up too fast. We’ll see the strength of the market and we’ll see what we can do going forward. We’ll talk more. I’m Mike Harris. We’ll have more after the break.

Get The Bullseye

We are here in the Ventura market. We’re here talking to you about your real estate life. It’s all about saving you money and making the right decision at the right time for the right reason. I understand that you got that under control, but my goal is to get you to the bullseye, not just on the target. For those of you golfers out there, you get a golf putting green that’s sitting on an island. You got water all the way around. You get to that tee box and you say, “I want to get it on the green.” No, you want to get it closest to the hole. Your target should be very tight to the hole, so you’re right there next to the cup when you make an error.

If you’re saying, “I just want to get on the green,” if you make an error, you’re in the water. Where’s your mindset? Your mindset is to save the most money possible with the best information you can have. There is not enough information, so you can barely get on the green or miss the green. No. You want to get closest to the cup and closest to the bullseye. Only one team wins the championship. You’ve got stuff going on right now. You’ve got seasons getting started in hockey now. You’ve got basketball. You’ve got baseball that’s finishing up. You’ve got football. Everyone’s going towards the championship. You’ve got no undefeated teams. Where are you going to finish? Only one team finishes on top. We had a great season.

Maybe you could have a great finance stuff going on, but it’s not perfect. How about a perfect plan for you and your numbers and only unique to you? A perfect financial GPS because it has all your ins, outs, and items, spits out 90 days in advance and does future forecasting, future ideas, vacation planning, car purchasing, social security retirement ideas, or future real estate purchases. Everything can be charted, looked at, and understood before you make the decision. All the affordability and all the numbers, including your debt-free date. You can have all the charts, all the bar graphs, and everything you want to have. No obligation. I want to talk to you and show you the benefits so you can make a decision that’s right for you and your family.

I want to make sure your decisions are with the best information possible. It’s not in doubt. I mentioned before, I took my 26.4 years. Personally, I was taking it down to 12.3 because I live in the numbers, but the 12.3 wasn’t the 7.9 that the perfect financial GPS took my numbers down to making it a no-brainer for me to make a decision because that additional 4 years plus was 6 figures in savings. That’s my six figures. Nobody else’s. That’s mine. I owed it to myself. I owed it to my family for a better decision. I needed to put aside my knowledge and confidence because there was a better plan.

I understand these principles, but it doesn’t mean I’m in the perfect timing position of every second of every day to the right dollar and to the right reason. You still have to drive the car. You still have to make the payments. You still have to send the monies in. Knowing when, why, what, and all of that makes a difference. You start getting a little bit even more wiser to your money and your decisions, knowing the reasons for it. You start understanding it. Usually, you exceed expectations by even almost 20%.

This is how you start. You can take an email address Webinar@AHeadForMoney.com. When you send that email to Webinar@AHeadForMoney.com, I can, in turn, give you access to our webinar on Tuesday evening at 6:00 PM. I can also give you some links and some items to watch quickly to understand a little bit better what the opportunity is all about. If you’re not able to attend on a Tuesday evening, that’s fine. We can schedule a time on my calendar, which I’ll include, a time that’s available for you so that we can have a one-on-one meeting to understand your goals and direction going forward.

We can have a no-obligation meeting, see if a second meeting is warranted, and understand what the opportunity can do by gaining your results, usually in that second meeting. Not the first, but in the second meeting because I want to know your ins, your outs and I’ll give you a one-page worksheet to do that. I want you to understand what it is we’re talking about. You can call (888) 543-3980. Ask for the information, of course. If we answer live, of course, you’re talking with us. Also, email to Webinar@AHeadForMoney.com.

Your information is not being bought or sold. It stops with me. Buck stops with me. I’m never too busy to work or speak with you. I want to make sure you’re gaining a benefit. This is not for me. It’s for you. There’s nothing gained on my end. It’s information. It’s a conversation. We’ll see if a second meeting is warranted. I need to show you a benefit or a reason why once I understand your reason why to move forward. (888) 543-3980. Webinar@AHeadForMoney.com.

Lowering Interest Volume

As a mortgage lender now for 37 years, I’ve been doing that, helping people purchase, refinance with their real estate life and yours, and making a difference and helping people save money with the right timing. Currently, many of you have low interest rates and you’re doing fantastically well as a result. I was a large part of that helping people lower their rate. In turn, I want to help you lower your interest volume depending on how long you’ve had the loan. You’re paying an exorbitant amount towards interest even though that interest rate looks low.

Go back and look at your closing sheet and your closing papers. It says TIP and it’s Total Interest Paid. That’s the tip you’re paying the bank. Generally speaking, you’re buying your home one to one and a half more times. You’re doubling down on your bout that you owe and then some. I want to make sure you can control that, keep that money back with you, and maybe buy some extra available wealth through another direction of your choosing. If we can discuss that together, that’s my goal. It’s making you curious to understand what’s possible. You don’t know what’s possible unless you ask. I’m asking you to ask. (888) 543-3980.

What you’re doing is you’re looking at your current finances. I’m not asking you to cut this, cut that, move to a tiny home, eat pork and beans, give up this, and give up that. I’m not asking you to get off the grid, unplug everything, and start burning candles. I’m not asking you to do that. I’m asking you, based on your current lifestyle and what you’re currently doing, what we can do to do it in a better way without sacrifice. That one-hour meeting will allow us to explore what’s possible.

If you have $1 extra at the end of any given month, I think I can help. If you have a negative cashflow, then it’s a question how much monies you have to be negative or continuing to be negative. Also, we could look at other remedies and items to get you back more positive to allow this to grow and do better for you. It’s taking a moment to take inventory. Taking inventory is the first step. It’s not denying what’s there. It’s understanding what’s there so something can be done. It’s not putting your head in the sand, crawling up in the fetal position, and hoping it all goes away. It’s not fighting the wind. It’s changing the direction of your sail. It’s having you move in the right direction for the right reasons. I can’t change your past, but I can help tackle the present, make sense, and get a better future ahead.

It’s laying the groundwork. I use sports analogies. Your favorite team has made changes. They’ve either traded, acquired, brought up younger players, retired, or traded older players. They changed the makeup to create a better team for a better result. The most expensive team isn’t the team that always wins. It’s the team that plays well together and has the correct parts, the correct timing, and the correct benefits.

You got home run hitters. If you’ve got a team of whole home run hitters and they strike out a lot and they don’t get on base as much because they only hit homers, it could work but maybe not. You need people on base. You need the ones that do the dirty work. I want to hop right in there and help you. Let’s make it happen together. Let’s see you finish out on top. Call (888) 543-3980.

My weekend is packed. I have appointments. Right now, it’s a time when most people aren’t busy. I’m busy. We’re in the middle of tax planning for the end of 2023. Many people are planning not only for taxes but also trying to figure out how they’re working, their debt, structure, higher rates, and higher insurance rates. I talked about insurance, possibly moving deductibles.

People are spending more money because what happened was people have student loans for three years. You didn’t have a payment. What did you do with the money you saved on not making those payments? You bought a car, and now you have a car payment. You bought more things, and now you have a credit card payment. Now, the student loan has come back. Do you have that as an affordable option?

Let’s talk about reworking what’s going on with that. You had three years of forbearances and went to auto payments, credit card payments, and maybe even a home equity line of credit. Let’s figure out and create a plan going forward. Understanding what you can do when it comes to your student loans. Whether there’s contacting, servicing, or doing income-related items to it, various things can be done and we can talk about it.

Right now, about $29.1 million is for people 29 to 50 years of age who have student loans. We want to help. There are 49 million student loans out there right now and 34% or 11 million cannot afford to pay. What’s being done? Twenty-nine percent of those are federal loans, and many of you who refinanced out of your federal loan are now going, “What did I do?” It’s because you’re not getting some of the benefits of what a federal loan potentially could be doing for you in payment structure then now when you refinanced it.

There are many decisions that are made in haste without knowing the repercussions. Decisions have consequences. I want to make sure you understand items before you make a decision or not make any decision at all because that is a decision also. I need you to say yes or no, but I need you to understand what it is I’m talking about. A perfect financial GPS program that allows you to operate, move forward, look to a debt-free date, and keep you on schedule. Having someone smarter in the room who’s talking to you, who doesn’t talk back, who gives you advice and information that you could take or leave, but you also know the results right away if you were not to follow. It gives you the perfect guidance that you truly need. Anyone who’s good with finances or anyone who has no clue. It works just as well.

(888) 543-3980. Please give us a call and get information regarding timing. You can email Webinar@AHeadForMoney.com, and then I’ll get you out the link information for Tuesday night, 6:00 PM or you can set up your very own appointment other than that time, no problem. I will send you out some links and some material. I would love to know your name. I would have your email of course, if you do it that way and a phone number would be awesome. I don’t sell your information. It goes to no place else. It stops with me. As soon as you say you’re not interested, we’re done. I hope you see the benefits I’m telling you about or trying to educate to give you the best information.

As mentioned, we have Halloween on Tuesday. Make sure you’re safe if you’re going out. If you have the young ones, keep an eye and have the flashlight to make sure everything’s in good order. If you’re staying at home, whether you’re participating or not, make sure everything’s semi-manicured up front. Make sure there are no obstacles. Make sure you don’t have any trip and fall or other situations going on. My word to the wise to that. Over the years, I’ve seen many things happen when people are out when they never have been out before. It’s a whole new experience. Sometimes that’s when you want to stay in when everyone else is out.

My goal is to help save you money and put you in a better financial future. (888) 543-3980. I’m Mike Harris, president and CEO of United Mortgage Corporation of America, United4Loans.com. I’m also representing a company that allows you to save money with a perfect financial GPS program. I want to talk to you more about that as well. That’s going to be an associate with what I do, past, present, or future clients, even clients that were other lending professionals. I’m able to put you on a better path without disturbing the loan that you have at present, but you’re paying less interest. You’re not cheating on anybody. You’re improving something.

In fact, I would love you to tell me who you worked with so I can talk with them so they can help more people through their clients also because this is not something to be kept a secret. This is your money and it’s time to get it back. It’s time to get it back on your side of the ledger. I’m tired of watching it. I made a decision myself. I was saving another four years. Four years is a good amount of time. When I was already thinking I was doing good saving from 26 down to 12, it wasn’t good enough. It was huge, but it wasn’t good enough. I want it to be good enough for you. Let me show you how.

Call me at (888) 543-3980. My company site, United4Loans.com. The radio program, YourRealEstateLife.com. I look forward to talking to you, saving you money, and putting that money back in your pocket. I’m Mike Harris, president and CEO of United Mortgage Corporation of America. Until next time, what kind of loan do you have?

A lot of tax returns were just completed for the first time, with all the extensions going on. We’re seeing a problem. We’re seeing a tax gap. The sum of failed payments through the non-filing, under-reporting, and overunderpayments is rising. In 2020, it was estimated $601 billion. In 2021, $688 billion. During the 2017 to 2019 period, a gap averaged $550 billion and $496 billion for the gap between 214 and 216, but we’re looking at higher collective aspects and people chasing. They’re looking to gain back $63 billion, so take it back down to 6.25%. We’ll see what happens. You need to make sure you’re protected. File correctly. We’ll talk next time.

Important Links

• Webinar@AHeadForMoney.com
• United4Loans.com