The Fast Track to Gaining Equity with Refinancing

When most people think of refinancing, they think of a way to lower their monthly payments or to get cash out of their homes, but there’s another aspect to refinancing that more and more people are finding out about and utilizing.

Your home is probably your biggest asset, and the equity in your home is the key to that asset. If you’re paying off at typical 30-year mortgage, you could be throwing some of that equity, and thousands of dollars, away. More and more people are finding out that by refinancing their homes, they can build equity faster and pay of their loans earlier. With mortgage rates being some of the lowest in history, now is the perfect time to review your refinancing options and look closely at what refinancing can do for the equity in your home.

If you can refinance your home at a lower interest rate, but make the same monthly payment that you’ve been making, you can save thousands of dollars in interest, pay your home off early, and build equity faster than if you had continued to pay at the higher rate of interest.

Some borrowers who qualify may even want to refinance at a lower interest rate, but take out a 15-year mortgage instead of a 30-year mortgage.

A 15-year mortgage can save you thousands of dollars. For example, let’s take a $100,000 mortgage with a 7 percent interest rate. If you were to take out a 30-year mortgage with those terms, your total payments would equal $239,511 and the total interest you paid would equal $139,511.

If you took that same exact mortgage amount and interest rate, and took out a 15-year mortgage, your total payments made would equal $161,789 and the total interest you paid would come to $61,789, saving you approximately $77,722. Obviously, if the loan amount were higher, and the interest rate were to decrease when you refinance, you will save substantially more.

Even if you don’t qualify for a 15-year refinance, you will want to ask the lender to prorate the length of your loan to the amount of time you currently have left to pay off.

For instance, if you’ve been paying on your mortgage for 10 years, ask for a 20-year mortgage instead of a 30-year plan. This will ensure that your home is paid off in the quickest amount of time possible and that your equity accrues at an accelerated rate.


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Written by Craig Romero

Discover how to quickly build a minimum of $40,000 worth of home equity and pay your mortgage off in 10 years or less without making biweekly mortgage payments.

Click Here for more info!

Craig Romero is an author and mortgage analyst dedicated to
helping homeowners maximize the investment in their homes.

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It covers:

• The best blogging techniques.
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Credit Scoring 101

"Use These Facts to help you..."

What is a credit score?

Before any lender decides on what terms to offer you on your new loan (which they base on the "risk" to them) they want to know two things about you:

1. Your ability to pay back the loan, and
2. Your willingness to pay back the loan.

For the first, they look at your income-to-debt obligation ratio. For your willingness to pay back the loan, they look at your credit score.

The most widely used credit scores are FICO scores, which were developed by Fair Isaac & Company, Inc. (and they're named after their inventor!). Your FICO score is between 350 (high risk) and 850 (low risk).

Credit scores only consider the information contained in your credit profile. They don't include things like your income, savings, and down payment amount. Or demographic factors like gender, race, nationality or marital status. (The fact they don't consider demographic factors is why they were invented in the first place.) "Profiling" was as dirty a word when FICO scores were invented as it is now. Credit scoring was developed as a way to consider only what was relevant to somebody's willingness to repay a loan.

Past delinquencies, derogatory payment behavior, current debt level, length of credit history, types of credit and number of inquiries are all considered in credit scores. Your score considers both positive and negative information in your credit report. Late payments will lower your score, but establishing or reestablishing a good track record of making payments on time will raise your score.

Different parts of your credit history are given different weights. Thirty-five percent (35%) of your FICO score is based on your specific payment history. Thirty percent (30%) is your current level of indebtedness. The time your open credit has been in use (ten year old accounts are good, six month old ones aren't as good) and types of credit available to you (installment loans such as student loans, car loans, etc. versus revolving and debit accounts like credit cards) each account for 15%. Finally, 5% of your score is based on the pursuit of new credit.

Your credit report must contain at least one account, which has been open for six months or more, and at least one account that has been updated in the past six months for you to get a credit score. This ensures there's enough info in your report to generate an accurate score.
If you don't meet the minimum criteria for getting a score, you may need to establish a credit history prior to applying for a mortgage.

Need more tips? Have more questions? Call me! I can help you by answering any specific questions you have on your report. I can also help you with a complimentary credit evaluation and identity theft review. Call me at 309-743-0110 for more details...

Your Credit Card Company Hopes You NEVER Find This Out!

There are 6 things your credit card company DOES NOT want you to know!

Knowing these 6 things will save you a ton of hassle...and money!

Here they are...

#1 The TRAP is set. The average consumer has 4 credit cards, with an average balance per card of $3,900 (that’s $15,600 in debt in case you haven’t done the math!) Sure, there’s safety in numbers, but is this the company in which you want to belong?
I don’t know about you, but I’d much rather be in the “below average” customer group that has less than $1,000 in TOTAL credit card debt. These companies keep offering us new cards every week (think about how many you have received in the last year!) They offer higher credit limits and cash advances. Basically, they insult our intelligence. Many consumers are flattered when they receive their “PRE-APPROVED PLATINUM VISA- just fill out the form below sign and send back” letter. We think we’re being rewarded for a job well done. The job, of course, is being able to spend money with the best of them and pay it back better than most. Don’t get SUCKED into this mental TRAP! STOP TRYING TO KEEP UP WITH THE JONESES; THEY’RE HEADED FOR BANKRUPTCY, ANYWAY!

#2 The Never-Ending Debt… If you make the minimum payment due on your average balance of $3,900 each month, your credit card will be paid off in approximately 39 years! It’s called “amortization”, or in the case of credit card repayment, I should say “lack of amortization.” In lay terms, this simply means you have no real term set in order to pay this back. It’s open-ended. They’ll let you pay on that same balance forever if you let ‘em. When you buy an automobile, you may finance it for 5 years. You know, if you never send an extra dime over your monthly payment to that Loan Company or bank, you’ll own that car on the day of your 60th payment. You have none of these guarantees with credit cards. They are revolving accounts. I guess you can say they are like the Energizer Bunny, “THEY KEEP GOING, AND GOING, AND GOING…”

Want to know the other 4 credit card traps? Then click here to get them!

Please let me know if there's anything else I can do to help you.

Steve

What My Chihuahua Taught Me...And How It Can Help You Too!

I live in a freakin' zoo!

Now, I'm not complaining...so bear with me here.

With 3 kids, 4 cats and 2 dogs (including a chihuahua that thinks she has hairballs) and a wife that SNORES...I have at least nine potential things that can wake me up in the middle of the night.

It happens a lot. I'm a light sleeper. I'm used to it.

OK, so it's 4:47 in the morning. What could possibly wake me up this time?

Ouff...Ouff...Ouff...Huh?

What's that noise?

The winner is...

My 3 1/2 lb. furball...long-haired chihuahua, Kiwi.

(See the second photo above...)

I gotta tell ya. she's been hanging out with my cats too much.

Why?

Because she decided that she has hairballs!

Huh? Ouff...Ouff...Ouff!

(Trust me, it's tough to put the sound of a dog making fake hairball sounds in print. So I invented a word on the spot- ouff. It was the best I could think of at 5:19 a.m.)

"Ok, Kiwi. You win. I'll get up & take care of ya."

Great.

as soon as I roll out of bed...she STOPS making this strange noise...and cuddles up in bed with my wife.

Oh well. At least now I can share this weird story with you!

OK, are you still with me? Good. 'Cuz there is a point to all this...

Believe it or not, my little 3 1/2 lb. Kiwi teaches me a lot:

* She's an expert at getting attention. Why?
(do you really have to ask? I mean - look at her! She's just too darn cute, isn't she?) How can something so small and furry stop traffic in public and spread smiles & aaawwws like a virus wherever she goes?

Amazing. What else has she taught me?

* She knows how to get what she wants. When she needs exercise, all she has to do is catch a glimpse of her tail in her peripheral vision...then WHOOSH! Off she goes in a relentless pursuit of her own tail!

Over and over again.

Which brings me to my next point...

* She doesn't take herself too seriously. I gotta admit it. It's freakin' hilarious watching her run in circles tryin' to catch her tail! Who needs TV when you can witness spectacles like this? (Truth IS always stranger than fiction.)

Wait - there's more!

* She has NO Fear! I haven't told you about my other dog...
My spastic beagle/lab mix, Lucy. (I'll save my diatribe on her for another day.) But I will mention this...

Kiwi loves to pick on Lucy! (Look at the 1st pic above for PROOF!)

Trust me on this one. Your life ain't complete 'til you've seen these two wrestle!

Who wouldn't want to watch a little brown 3 1/2 lb. fuzzball bounce around all over a dog 20 times her size...and kick her ass?

It's all play, of course. No animals ever really get harmed in my world.

Lucy always plays along and takes her 'beating' like a trooper. Actually, I think she likes the attention. Really. She gets her ears cleaned out for one thing! Plus I'm pretty sure the back of Lucy's legs stay pretty clean too. Why? Beacuse Kiwi is always 'nibbling' the dirt off of 'em!

Alright, enough.

Is there a point to all this? YOU BETCHA!

If you want to get aheaad in this world...live life to the fullest...enjoy yourself...and YES even take control over your finances...
then you can learn a few things from Kiwi. Especially this...

* She's not afraid to ask for help! Even though the whole 'hairball' thing was a false alarm...
She still knows she can turn to 'Dad' for help.

So can you.

If you need to get a grip on your money situation, I can help you use your home to make everything waaayyyyy better!

Call me today at 309-743-0110. Let's see if I can help.

You have nothing to lose (and Kiwi will thank you for it!) :)

Sincerely,

Steve

P.S. Just kidding about the snoring, dear!

“How Can You Quickly and Easily Give Your Mortgage a MASSIVE Overhaul, Slash Your Monthly Payments AND Put Cash In Your Pocket…Risk-Free?”

Easy. Just follow these simple steps…

Dear Friend,

Are you tired of working your tail off to pay your bills…
with nothing but pocket lint left to show for it?

Do you have too much month left at the end of your money?

Are you tired of struggling just to pay thousands of dollars in unnecessary interest on your home mortgage, car payment and credit card bills?

Do you get sick to your stomach when you open your mortgage statement…and notice your balance is barely moving at all?

What if you could quickly and easily ‘tune up’ your finances…without risking a penny?

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Now you can discover the secret tips, tricks and strategies most loan officers don’t know about.

Here’s all you need to do to get started:

Pick up the phone right now and call me at 1-877-743-0110. You can even lock into a lower fixed payment on your home loan. Here’s what else you can do…

· Get rid of your unpredictable, high payment mortgage(s). Switch to a stable, lower payment.
· Wipe out ALL of your credit card balances! Without bankruptcy, credit counseling, or damaging your credit rating in any way. You’ll even improve your credit score in the long run as a result!
· Learn how to become debt free in as little as 5 years! Using your current income.
· 1 – 2 months with no bills to pay to anyone! No mortgage, no car payments, no credit cards! Just think what that could save you… some people save as much as $2431.38 right there alone.
· I’ll build you a 100% legal, ethical and moral “middle class tax shelter!” Hint: this is the same technique that the wealthy already know about, and they’ve used it for decades. Why aren’t you using it? This could be worth thousands of dollars of additional savings to you!
· Wipe out your car loans! And get your car titles free and clear! No more car payments!
· I’ll save you hundreds (maybe even thousands) of dollars every month! Money you now spend servicing debt. Hey! You really can improve the quality of your life! I can even get you EXTRA CASH… while still saving you money each month!!!

Sound too good to be true? Don’t take my word for it. Go see the other posts on this page. Read the words of my happy clients!

Now, you may be asking yourself, “Yeah, but will I qualify?”
Maybe. Maybe not.

But there’s only one way to be sure…

Call me NOW at 1-877-743-0110. Or click here and get started while it’s fresh in your mind. You have nothing to lose!

Wishing you a future filled with weatlh, happiness and success!
Steve Fischer

Money Likes Speed

Hey gang, I just finished reading an insightful article from Robert Ringer's FREE newsletter, A Voice of Sanity in an Insane World. (I highly recommend you sign up for this eye-opening newsletter by clicking here.)

Anyway, the title of today's article was "Success Likes Speed." In the article he quotes another one of my favorite authors, Joe Vitale. Joe's saying "Money Likes Speed" is a brilliant piece of advice that we can all to take to heart.

Both authors make these points:
- Action breeds results
- Taking the 1st step to getting what you want is not only THE most important one...it's also the hardest one for most of us.
- Over-planning & over-analyzing is a BIG productivity killer.
- Procrastination SAPS your enthusiasm
- The longer you wait to go after whatever it is you want, the less likely it is you'll get it
- Time is finite. It's the only thing you can never get more of. When it's gone, it's lost forever.

So what's my point for telling you all of this?

Simple. I'm dedicated to helping homeowners like you take control over your financial future. To educate you on quick & easy ways to use your house to take control of your future.

So why wait? TAKE ACTION NOW! I can help you with FREE information to get you back on track to achieving your financial goals. Click here for my FREE report & get all the details now!

To your action-oriented success,
Steve