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Welcome to the first edition of the Truthful Lending dot Com Monthly Roundup! I’ll use these monthly updates to key you in on pertinent mortgage, real estate, and financial news, information and tips you may have never heard. I’ll also use this opportunity to mention some of the most important posts from this month that you may have missed and link to some other interesting sites (although none quite as interesting as this one ;)) that you may enjoy.
Interest rates went down considerably this month. Why? Fluctuations in the economy and various other factors have a small effect, but we don’t care about that; we want to know what’s really affected rates.
It’s quite simple. Interest rates were overinflated these past couple months, and here’s why…Interest rates are determined on an open market, just like stock prices, and we all know that many of the short-term fluctuations in stock prices are a result of investor expectations. Usually, those expectations aren’t very accurate or rational; they tend to swing from one extreme to the other and only settle in the middle somewhere after a period of time. Because of the recent increase in foreclosures and closing of subprime lenders, investors on Wall Street who purchase mortgages on the open market freaked out and decided all mortgages were more risky than before. So what happened? Investors wanted a higher return in exchange for what they perceived to be a higher risk, so the interest rates that you pay as a homeowner went up to meet that demand.
Now, like I mentioned, the investors’ expectations tend to swing from one extreme to another; ultimately they settle and stop swinging, only to go crazy again in the future. Anyway, because of bad press on the current mortgage market, investors got a little freaked out and rates went up. Now they’re starting to settle to a more rational level, hence the lower interest rates this month.
Two brand-spankin’ new programs have been launched over the past several months that are going to revolutionize the mortgage industry, and it just so happens that they are my specialty. Both programs work on the same principle, a simple, but widely unknown interest cancellation trick.The first is called the Money Merge Account; if you haven’t heard of this product yet, you will. It’s a revolutionary new product that can help you pay off your home in as little as 1/3 to 1/2 of the time with no refinancing of your primary mortgage and little to no change in your lifestyle! This program is really incredible and I’m so excited to be one of the first brokers in Southern California to offer it!
Follow this link for an online introductory video to the Money Merge Account and see how it can help you, your family, and your friends.
The second program is called the Home Ownership Accelerator; this program has much more stringent qualification requirements than the Money Merge Account and doesn’t cancel quite as much interest; the benefit, however is that this program is so simple even your 3-year old could work it.
Follow this link for an online introductory video to the Home Ownership Accelerator.
Most importantly, if either of these programs intrigue you, please shoot me an email at john@occapital.com or drop me a line at (888) 409-7070, ext. 603 to find out how they can work for you.
Why Subprime Loans Go Bad
A short MSNBC clip from you-tube that gives a quick run-down of how subprime loans are funded and sold on the open market, also called the “Secondary Market.”
How To Get Away With Not Paying Your Bills
What should you do when money gets really tight? Read this article to get a better understanding of what your financial priorities should be.
“I’ve Been Hearing A Lot About Subprime Mortgages Recently, What’s a Subprime Mortgage?”
If you’ve been reading/watching the news lately, you’ve probably heard quite a bit about the subprime mortgage market. Cut out the fat and find out just what “subprime” really means.
Pay Off Your Mortgage In As Little As 10 Years Without Changing Your Lifestyle
A new product was released recently that can help you pay off your 30-year mortgage in 10 years or less without refinancing your primary mortgage or changing your budget one bit! Find out how the Money Merge Account works.
When You Should Pay $10,000 In Point To Refinance
Sometimes it makes sense to pay points to refinance, but no one really wants to; up-front costs just aren’t something we like to think about. Learn the truth about paying points when refinancing and how it may actually benefit you dramatically.
Top Subprime Loan Goes Bye-Bye
3 Steps To Remove Collections From Your Credit Report
5 Ways To Improve Your Credit Score Now
The Mortgage Reports Blog
Mortgage Blog - Industry Insights From Lenderama
Related Articles:
It’s All About The Benjamins…DTI - Debt-to-Income Ratio and How it Affects You
New Liabilities May Damage United States’ AAA Credit Rating
When You Should Pay $10,000 in Points to Refinance
Mortgage Lender Implode-O-Meter Gets Sued