Roger Schlesinger, originator of the nationally-renowned Mortgage Minute, has been helping educate his clients to meet their real estate financing needs for over 25 years. Roger's "Mortgage Minute" is heard daily on over 400 stations across the nation and has become the driving force in Roger's consumer-oriented, "mortgage education" approach to residential lending.
First of all he might of had shovel ready jobs, but after a check with the Army Corp. of Engineers they were clean out of shovels.
Our government seems to find difficulty in the simplest of actions, and when it comes to something more difficult, don't ask.
It is easy to get yourself on the road to financial freedom if you take the time, or ask for help. It is too important in this economy to take hold of your financial future. And in this case, it's a matter of dollars. . . Not cents.
This Government for some reason – which, in my opinion, is none of their business – believes everyone should be equal in everything.
In this crazy world we live in what is good for one person doesn't work at all for another. Have both of these people write about the best thing, and the worst thing, and you will get a glimpse of reality.
Obviously one loan stands out alone as the one most people would choose if they could. There are many reasons to make borrowers shy away from the obvious best loan, but if they concentrate on two facts they may have the will power to go forward.
While waking my dogs for their morning ride in my golf cart I got to 'thinking of what's going on in this country and all I could think of was What Happened? And when did it happen?
The mortgage industry is not your uncle Charlie’s, nor your fathers, because of the monumental changes that have occurred over the last decade or so.
A friend of mine had a phrase that he said to me early in my years that stuck with me for decades: "Whether you are rich or poor, it's nice to have money". I have to say my friend had it right. Wealth certainly is a main ingredient of a life well spent, but how do you get wealth?
People believe that I find the 30 year fixed loan to be the devil's work and not fit for humans to consider as a financial vehicle. Nothing is farther from the truth, HOWEVER, there are only 3 situations that I think make sense as a loan:
This world is getting strange and crazier than even I could ever imagine and unless we have all moved to the Land of Oz, somethings on earth - more specific in the United States - has to change, now! The following is my short list of needed measures. . . Emphasizing the word short.
As far back as I can remember a lot of things have happened yet no action has been taken on them and most of these actions have left the general citizenry's memory. Let's see what I can remember:
Subprime loans were less than 10% of all mortgage loans, and the liar loans were probably around 1 to 2% of all mortgage loans. Neither the subprime, nor the subprime liar loans caused the financial crisis of 2008-present. What they did do is allow people without traditional sources of income, or great credit or large reserves a chance to get a property and work their way out of their deficiencies.
Going in a different direction with your mortgage is using mind over matter; or, even better, accepting greed and rejecting fear. It seems simple, but it could be more difficult than you think trying to accept a new way of action.
There is only one sure way to turn this country around, heading back to the recent past when American ideas and products were valued around the world because of their quality that came from our ingenuity & hard work, as well as our values, traditions and customs.
Then came Barney Frank and Chris Dodd, two politicians who never spent a day in the operations of a mortgage company, but nevertheless created thousands of pages about day to day banking operations as they felt it should exist.
The quantitative easing that has been going on under the direction of Ben Bernanke and the Federal Reserve seems to have been with us almost half a life time, but it hasn't. It arrived after the beginning of the financial crisis, and was supposed to be a panacea, but it hasn't demonstrated to be the “do-all” solution to our financial problems.
As I begin to navigate through the mortgage market once again, I feel that half of the craziness in this aspect of finance is because a majority of the industry is built on family tradition.
Everyone in America, employee or employer, man or woman, young or old, highly educated or high school dropout can become wealthy. It can happen quickly, or can take decades. But as my favorite announcer, the late Paul Harvey, would say: And now the rest of the story. . .
In the big financial mess that started in 2008 how many houses with a 60% loan to value or less were foreclosed upon? How many borrowers with at least a quarter of a million dollars in liquid assets lost their house? Keep these questions in mind as we will touch upon them soon.