Yearly reviews are a great way to keep on track with your financial goals. You’re probably already meeting with your financial advisor and other asset manager for quarterly or annual reviews, and you should do the same with your Mortgage Planner as well. An annual mortgage check-up is an ideal way to make sure your mortgage is still having the maximum positive impact on your overall financial plan.
A lot can happen in one year. The market can take turns that can open up new opportunities, such as reduced interest rates, new loan products or changes in home values. Furthermore, your personal and financial situation could be mildly to radically different than it was just 12 months prior. Perhaps one or more of the income earners got a raise or lost a job. Maybe you received an inheritance. Even a minor, one-year change in one of your kids’ college plans could impact your financial situation in a way that would benefit from an adjustment in your mortgage strategy.
Periodic reviews serve several purposes. First, they establish a consistent path toward achieving your financial goals. Secondly, they ensure that you stay on track with your goals. Sometimes plans need minor adjustments, but without the knowledge that comes from a thorough evaluation, those minor adjustments may go unnoticed. Often, by the time an adjustment becomes apparent, you may have already lost valuable time and/or resources that could have been spared with a few minor modifications along the way. Finally, periodic reviews help to keep you accountable toward your commitment to achieve your objectives. Without accountability, it’s very easy to let your savings and investment actions fall by the wayside, especially when unexpected expenses arise. Knowing that you’ll be discussing your action steps will help to keep you committed to your goals.
Consider scheduling a periodic review with your Mortgage Planner in conjunction with your asset manager’s review. In addition to saving time, you’ll also gain the advantage of your own personal management team for your financial asset-building program.
Remember that getting clarity on your financial situation is never a waste of time. If you find that your current financing is more desirable than the financing that is available in today’s market, you’ll know that your Mortgage Planner did a great job advising you last time. If you find that your changing circumstances have dictated that a new loan will better suit your new situation, your Mortgage Planner can bring you one step closer to achieving your financial goals.
Thursday, November 8, 2007
Friday, November 2, 2007
What a week.
On October 31st, the Fed announced its second consecutive decrease in rates, cutting another 0.25% from the Fed Funds Rate 4.5%. This change could directly impact millions of American borrowers. Are you one of them?
Unemployment remains steady at 4.7% are you employed?
Manufacturing grew in October at the weakest pace since March, suggesting that ongoing troubles in the housing and credit markets have seeped into the industrial sector.
Oil prices finished at a record close Friday, as light, sweet crude for December delivery settled at $95.93 a barrel, up $2.44 from Thursday's close. Earlier in the session, oil prices hit an intraday high of $96.00.
Gold prices reached its highest level in 28-years, as COMEX gold for December climbed $14.80 to $808.50 an ounce.
Adjustable Rate Mortgages
If you currently have an ARM that is scheduled to reset in the next 14 months, then this news is good for you. Now is the time to investigate your options. Even if you have a pre−payment penalty or you're behind in your payments, don't delay. There may still be options available to get you out of your ARM and into a mortgage you can afford, including FHA or the new FHA Secure program introduced by the President. Important: The FOMC does not meet in November, so ask yourself this: Can you really afford to roll the dice until its next meeting in mid−December?
Buying at the Bottom of the Market
If you're looking to invest in real estate in the next six to twelve months, and recent rate cuts have inspired you to start
taking action, now is the time to prepare yourself for intense credit scrutiny. There are a lot of great real estate deals to be had today. But if your credit doesn't stand up in today's tight−fisted credit environment, then you could easily miss out on an exceptional opportunity.
What's the point of taking advantage of discounted home prices if you can't qualify for the right mortgage or interest rate that makes it all worthwhile? Get pre−approved now and know exactly what you can afford. And with the right REALTOR® on your side, you can have incredible negotiating power in a buyers' market!
Refinancing − Know Your Options
While rate cuts often spark ideas of refinancing, this may not be the best choice for everyone. In some cases − especially in a market where home values are declining − refinancing may be impossible or disadvantageous. Call me today for a free mortgage review. Based on your individual goals and financial needs, we can explore every available option for you and your family.
I look forward to hearing from you soon.
Unemployment remains steady at 4.7% are you employed?
Manufacturing grew in October at the weakest pace since March, suggesting that ongoing troubles in the housing and credit markets have seeped into the industrial sector.
Oil prices finished at a record close Friday, as light, sweet crude for December delivery settled at $95.93 a barrel, up $2.44 from Thursday's close. Earlier in the session, oil prices hit an intraday high of $96.00.
Gold prices reached its highest level in 28-years, as COMEX gold for December climbed $14.80 to $808.50 an ounce.
Adjustable Rate Mortgages
If you currently have an ARM that is scheduled to reset in the next 14 months, then this news is good for you. Now is the time to investigate your options. Even if you have a pre−payment penalty or you're behind in your payments, don't delay. There may still be options available to get you out of your ARM and into a mortgage you can afford, including FHA or the new FHA Secure program introduced by the President. Important: The FOMC does not meet in November, so ask yourself this: Can you really afford to roll the dice until its next meeting in mid−December?
Buying at the Bottom of the Market
If you're looking to invest in real estate in the next six to twelve months, and recent rate cuts have inspired you to start
taking action, now is the time to prepare yourself for intense credit scrutiny. There are a lot of great real estate deals to be had today. But if your credit doesn't stand up in today's tight−fisted credit environment, then you could easily miss out on an exceptional opportunity.
What's the point of taking advantage of discounted home prices if you can't qualify for the right mortgage or interest rate that makes it all worthwhile? Get pre−approved now and know exactly what you can afford. And with the right REALTOR® on your side, you can have incredible negotiating power in a buyers' market!
Refinancing − Know Your Options
While rate cuts often spark ideas of refinancing, this may not be the best choice for everyone. In some cases − especially in a market where home values are declining − refinancing may be impossible or disadvantageous. Call me today for a free mortgage review. Based on your individual goals and financial needs, we can explore every available option for you and your family.
I look forward to hearing from you soon.
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