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FreedomEquityMortgage.com
August’s
Mortgage Article:
The Big Lies About the Loan on YOUR Home!
We grow up hearing things over and over so much that
it makes them seem true. Here are some of
these things you should consider…
1. Paying off the loan
on your home makes it safer. Okay, there are two
brothers that both own $500,000 homes. Able owes
$100,000 and his brother Baker owes $450,000. Both
brothers get sick and can not pay their loans. The
interesting thing is that once you have paid all
that money in to build up equity, you can not get a
loan if you mess up your credit and can not work.
So which of the two do you think the mortgage
company will “work with” – granting time and
extensions? Baker! Able has a large equity and the
lender knows they will get paid if they take that
house back. Now who is safe?
2. The equity in your
house is a good investment. Able and Baker’s
houses go up 10% or $50,000 in a year. Who made the
most? They both make the same amount of money!
Having equity does not make you money! In fact,
Baker made $50,000 on $50,000 of capital and his
return is 100% for the year. Able, who has the big
equity, only made 10% on his investment.
It is easier to borrow on your house than
any other asset. Why not take out that equity and
invest it at a rate of return higher than the cost
of the money?
If you used $50,000 of your equity to buy a
place costing $500,000, say a four-plex, and it went
up $50,000, your rate of return on your investment
that you drew out of your house would be 100% and
lending rates are mostly under 8% on the home you
own nowadays! That is positive leverage!
Just do me one favor. If you draw out the
cash from your home’s equity to first pay off your
credit cards, please hide them in ice in your frig
so you won’t run them up again! You need to use
that money to pay off the cards then buy property so
you won’t be in an endless cycle!
August's
Bonus Article:
Ron' s Point of View
Reprinted with permission of Ron Bloomingkemper, CEO
of Freedom Equity Mortgage
It
was Henry David Thoreau who said, "Most of us die
with our music still in us." Maybe this profound
statement applies to all of us. Life has a way of
slowly eroding our hopes and dreams, not because the
world conspires against us, but because we slowly
stop believing. The most wonderful word in the
English language is "hope." It may be the most
powerful state of mind that can exist. Human beings
have crossed unexplored lands and seas in "hope" of
dreams and a better life. People have held onto life
with all odds against them because of "hope." Hope
is the belief that dreams will come true, a belief
for a better life or future.
Why do people stop dreaming and in turn, stop
hoping? The answer is simple, we are taught to quit.
We are taught to stop hoping by our parents,
friends, supervisors, and even ourselves. We are not
taught to give up in a malicious or direct way. No
one is intending for us to fail. We are taught to
fail in order to "protect" ourselves from the
disappointments of life so when we face obstacles or
failure, we often give up and avoid the pain of
disappointment. Our dreams lie shattered on the
rocky shores of life.
You see, if you do not try, you will not fail! If
you do not try, you will not be disappointed. We are
encouraged to achieve "safe" things like a regular
job, social security, good benefits, and things that
are easily obtainable. What happens when we stop
seeking dreams and start accepting what life is
willing to give us? Usually nothing bad, but also
nothing extraordinary and when life comes to its
final close, we wonder, "What if?" "What if we had
taken a chance?" "What if we had made that
investment?" "What if we had started our own
business?" "What if we had pursued our dream with
passion and hope?" If we give up hope, we will never
know the answer to these questions. Hope comes in
two forms: hope given to destiny or chance and hope
directed by action and passion.
Hope given to chance or destiny is a lottery. You
buy a ticket and then wait for something to happen.
We bought the ticket of life when we were born but
that never guaranteed us anything. You can hope for
good health, but never exercise or eat right. The
other kind of hope, hope fueled by believing you can
reach your dreams through passionate and directed
action, is a wonderful, thrill-filled adventure with
ups and downs that always has some kind of reward.
This all leads to the question every human being
asks, "How do some people achieve fame, fortune, or
riches?" The path is never quite the same for
anyone, but the formula never changes. It starts
with a thought or idea. The idea or thought grows
into a dream, the dream is converted into a belief,
a belief into action fueled by passion, and the
passion is never surrendered or relinquished. All
dreams and hopes are fueled by the emotional
excitement that no matter the obstacle, it can be
overcome. No matter the disappointment, it can be
endured. No matter what others tell us, we will not
waiver from the deep seeded belief that we can
succeed, that we can achieve our hopes and dreams.
When we lack passion for anything, whether our
marriage, job, or dreams, it is impossible to pursue
any of them with consistency. We will "try" for a
while but always fall back into mediocrity, scratch
our head and wonder why we stopped trying. This day
will come to a close, life will continue and when it
is all said and done, you will end the day with a
choice. The choice is either to start tomorrow with
passion about your dreams and pursue them with an
uncommon energy or slowly rise from your slumber and
almost in robot fashion, routinely go through
another day. What is your choice? How much "music"
is still left inside you?
August’s
Mortgage Q&A:
Loan Originator and Real Estate Broker
“Can I be a mortgage originator and earn a real
estate commission on the same deal?” Yes, in
most states. Keep in mind you will be held to a
higher level of scrutiny than if you only played one
role.
I
am currently closing a deal where I a playing both
roles. They have wanted copies of EVERYTHING and
insisted that I move the buyer’s real estate
purchase deposit to the title company and send them
copies of the checks to me and the checks to the
title company.
From the client’s point of view, they really have my
attention! I am going to make sure everything goes
well on this one. From my point of view, I am
better able to serve the client and I am getting
paid well for it.
August
Mortgage Update:
BRAND NEW:
Mortgage Business Builder Boot Camps
Only $1,995 per person!
Our Mortgage Business Builder Boot Camp is the most
in-depth intensive three-day Boot Camp you can
imagine on how to market, sell, and build your own
cash flow generating mortgage origination business.
SIGN UP AND RECEIVE TRAINING AND HANDS-ON ASSISTANCE
WITH YOUR FIRST THREE LOANS FOR ONLY $1995.*
• Huge Text, new in 2004, with scripts, marketing
plans and instructions
• CD Self Training Program
•
Web
Site
Reference Center
• 90 Days of phone support while training
• Our recruits get personalized help from Karen Zick
on your first three loans.
This is an opportunity that will pay for itself! It
is the chance to begin a great business with really
no cost to you once you have finished your first
three training loans. You will get back 25% of the
points to pay you back, (or more than pay you back)
your training costs. This business that does not
require an office, an inventory or employees! It
could not be better! And it fits perfectly with your
investing, brokerage or any other professional
services business.
At the three-day Mortgage Business Builder Boot
Camp, day one will focus on marketing and sales. The
second day is about how to present loans and how to
present the opportunity to people you will sign up
and the third day concentrates on how to do the
paper work. Plus, there will be a bonus session on
how to do hard money loans. The first Mortgage
Business Builder Boot Camp will be in
Chicago
in September, followed by Houston and San Diego in
October and November.
Go to
www.zickhomeloans.com
to see the services you too will soon be able to
offer. To sign up, click on the Employment tab, or
for more information select "Contact Us."
Click here to register for an upcoming Mortgage
Business Builder Boot Camp.
*You will need to pay an additional $299 direct to
Freedom Equity Group for your State Registration as
a mortgage originator and a year of your own web
site. If needed, we will assist you with this. We
will accept $1995 and send you a bonus course or you
can choose to make payments of $695 now and $500 out
of each of your first three loans.
Only $1,995 per person!
We hope you can join us! |
