Holiday Debt Begone!

• December 23, 2022
• realestatelife
• Podcast

2022 has been an exciting year. And before we welcome an exciting and promising 2023, we have to first address our holiday debt. In this episode, Michael Harris discusses how some numbers in the reverse mortgage market are getting a little tighter and the Fed’s role in these changes. He also talks about the five states where people move houses to and his experience helping people with their finance solutions after the Northridge earthquake.

—

Listen to the podcast here

Holiday Debt Begone!

I’d like to ask you this question as I always do. What kind of loan do you have? You might have a good one. Congratulations. You may not even know if you have a good one. What are you paying? “I don’t know.” A lot of people say that, but maybe you have a 2, 3, or 4. Maybe it is good. Maybe it’s not. Maybe you could do better. I like to know, what do you have in your holdings as you get to the end of the year? I look at individual situations.

I had an individual who had $160,000 in student loan debt. They had $50,000 in credit cards, but they had an interest rate that was at 3.875%. Fantastic, but they had over $200,000 in other debt that was causing some havoc. We talk about removing interest needlessly being paid, reducing obligations, and paying them off sooner. We talk about different methods of doing so. The equity position in the home was good. We have the ability to do a few things.

A typical mortgage individual will say, “Let’s refinance. Let’s pay off this. Do this and do that, and raise the rate from 3.875% to 5.5%.” I’m not so quick to jump and get rid of that 3.875% yet. I want to wait a little. I still feel rates were moving down, so I don’t want to settle for that 5.5%. What do we do? When we do the loan, we’re going to be doing a cash-out refinance if we were doing it to pay off the debt, so it’s a cash-out loan. Why not look at a home equity line of credit?

A home equity line of credit, some of you’re going, “The Fed’s been moving up. They moved up a half last week or the week. Now, they’re going to go up another quarter. The prime’s at 7.5%. It’s going to be 7.75%, 8%, or 8%-plus. The line of credit’s going to be 9%.” Nine percent simple interest. Is 9% better than the credit card rates you have on that $40,000 or $50,000? Your case would vary depending on the total you have. I’d rather have it on that than the credit card. Now, you look at that equity line, that simple interest, and it’s not weighed heavily on amortized interest.

If I did the refinance, you may have paid 80% to 85% towards interest initially. Over the first five years, it would’ve been a large total, even if 5.5%, the actual rate, would’ve been much higher initially because especially as I’m not lowering his existing rate, but I’m lowering the other obligations. I’d like to take this in a couple of steps. Home equity line, remove the debt, get up to the plate, get on base, organize those items, get that better, and improve credit scores. Wait time, look for the lower rate, position oneself, and then go for the home run.

Once you do that, now, we’re sitting here pretty clean and clear with good credit scores, but now we’re also going to attack interest that is owed all throughout the process. We got the team smacking away and we’re pounding that interest all the way through and through. We have multiple attacks, but we have to have an outline that works and not jump to the wrong base. The first thing we’re going to do is we’re going to get our team around us, the team that’s going to attack the interest that we have. We’re then going to come up with our specialty players. We’re going to come up with that individual who’s going to pay off these high-interest rates and substitute it for a little bit lower one.

Now, the team still attacks, but they’re not attacking as large of an item. They’re going to come in, and then we’re going to start attacking the amortized interest. They’re going to continue to attack. We’ll watch interest rates go down. You are going to put the icing on the cake. Consolidate, refinance, lower the rate, and have them attack that one hive or that one position. We’re going to reduce that debt fast.

I want to talk to you. (888) 543-3980. You can email me at Radio@United4Loans.com. These are the things that I want to talk to you as the year is coming to an end. I want to give you a treat as we are in the holiday season and we’re finishing up the Hanukkah time as well. I want to talk to you. Pick up the phone and give us a call.

Looking Forward To The New Year

As we have the end of the year and now we start the New Year, we are here to help you move forward with your real estate life. It was an exciting and has been an exciting 2022 and I’m looking for 2023 to be the same. It’s very early to get started here. I know late in the year or early in the year. No time like the present. Sometimes it’s getting out with the old and with the new. You have a moment. Maybe you’re at home. Maybe you have some quiet time. Maybe not. Maybe the family’s there, you’re on an outing. I understand. Let’s set some time together and let’s understand what the goals are so we can step forward and make a difference in your real estate life.

Many families have done that and have done that since summer. A lot of people have not been busy in the mortgage business and they’ve been looking for business. We are helping families save money. We’ve been closing on purchase transactions as we have here during the holiday season and going into the New Year. We’re getting the job done. We’re getting loans done on 3-2-1, 2-1, 1-0, 1-1 buy downs where we’re buying down rates for a period of time. This way, we can be in a position to capitalize and save more money down the line.

As the story goes in the first segment, we are helping people save money but making the right decision at the right time. Not just doing it for the sake of doing it. We want to make sure it’s concluded correctly and put together right. We’ll talk to your financial experts, your financial planners, your CPAs. We’ll go over those items with them. We work in conjunction with them in order to make sure you have the right decision or the best decision that’s possible for you and your family.

Reverse Mortgages

We’re talking with individuals about ITIN Loans, Taxpayer Identification Loans. We are getting those closed with as little as 11% down 89% loan-to-value, so we can help. We have individuals that are doing reverse mortgages. The reverse mortgage market has been shaping up and changing a bit as we’ve gotten to the latter part of the year. Some of the numbers have been getting a little tighter than the amount of money that you’re able to be entitled to base upon your age or looking at the actuarial tables. We’re actually running those numbers for all individuals who want to know, 55 years of age and older. I’m looking for your date of birth, the property address, and how much you owe. We then can run those numbers and see what we can do.

We can utilize a reverse mortgage as a purchase loan as well. We have individuals who are selling. They have equity. Based on the computation, they put a certain amount down to be at a certain loan-to-value, and then they don’t have, as a reverse mortgage does not have, a loan payment required. You are required to pay the taxes, pay your insurance, and you’re able to pay your HOA. You need to do that if you have one, so that needs to be handled. Some individuals have been able to also transfer their current tax base, which has been phenomenal.

It doesn’t have to be for reverse mortgage. It could be for any type of mortgage, so you want to check and see if your tax base where you are at is lower and if you’re eligible and you can transfer your tax base. It could save you lots of money. This 2021, we had a couple of transactions that had crossed our desk and I brought that up back with escrow title and the realtor. Some of them were looking at me going, “What?” They looked to it, and then all of a sudden, the borrower were saving so much money and they were tickled pink.

It would’ve probably came up, but it was nice to know because we are looking at the qualification of the loan. We’re looking at what tax rate we’re using, and if acquired or transferred. I was looking at the sale of their property, what they have, what they were doing, and how. We were able to utilize that existing tax base. You need to ask questions. Again, if it’s not for you, then at least you asked. You need to ask your experts. You need experts on your team. You have your realtor. You have your finance tax person. You have your insurance individual and the mortgage individual. They all talk together.

There are more professionals as you go through your transaction between your home inspector, your appraiser, and in some cases you need termite reports. We did a home that ended up with a multimillion-dollar home, vacant. It was an escrow to be bought and there needed to be a concession that was done and they had an infestation, so the house had to be tented. All got resolved, all got handled, but that item needed to be resolved and handled.

We’ve had situations where the appraiser goes out and there was no termite report needed according to the contract. The appraiser is noticing the roof and various items to what’s going on, so we had to get a roof cert and certify the roof out a useful life. In some cases, it doesn’t. There needs to be roof repairs. There needs to be not just a credit towards close and a holdback, but perhaps getting that done prior. That could be a holdup of a transaction.

We have to look at these items. Pre-homes that have been way since ’78 and on, you got to look at paint items, peeling paint. Not as much now as it was in the past, but you got to look at these permitted items. Now with these Accessory Dwelling Units or ADUs that are available depending upon what area you live, what’s allowed, and second incomes. All these things are taken into account and we have to look at what the possibilities are. All of this comes into play when we qualify you for a loan. We’ll gather your documentation. We’ll gain the information to make as much as we can to get you where you want to go. Sometimes we’ll qualify you for more than you want.

Pre-Approval

I’m not looking to give you a credit card or a generic pre-approval. I want to write a pre-approval for the property that you’re looking to purchase and write an offer on. We have an understanding. Let’s say you’re pre-approved. You’re pre-approved for $850,000. Rather than write a letter saying, “You’re pre-approved for $850,000,” you may find a home for $850,000 and you’re putting down 20%, which is $170,000 and maybe we’re sitting at $680,000. Why does someone need to know you’re approved for an $850,000 loan when you’re trying to get the best price for that transaction? I’d rather put the property address. “You’ve been pre-approved for the purchases set above property. Your credit’s been run.” Whatever the case of the letter is, I want to provide a letter that’s going to state enough.

Your realtor will let you know based upon the competition, the property, and what’s going on, then maybe you have to show bank statements to show proof of funds. Maybe you need to show that, but maybe not show your account number. Maybe you don’t want to show privacy issues. I understand. For a loan, I need those items, so it’s not showing them and crossing those off, and then sending to me because I need the account numbers. We need the verification for our loan and it’s a fiduciary item. That’s not being shared. I’m never going to give bank statements to another without your written authorization. I’m going to advise that not be shown to that outside party.

Sometimes that’s necessary. You have competition and we went off earlier this 2022 where there are multiple offers. You wrote an offer on another home and it was the same people who didn’t get the other home and they’re traveling around because you guys all like the same house. You have to put yourself together well and have a good loan package that’s pre-done. We were closing loans in 1 week, 2 weeks, and 3 weeks, 10 days minimum. We were getting the job done, people were closing, and we were able to speed up the process on the close. We had individuals who sold their home. They were basically renting or renting back instead because they couldn’t find a new place. They found a place and they were able to act quickly because we had it ready to go, but it was a different game.

Mortgage Rates Moving Down

Some of those games are still there now, but we are here to help you now as interest rates have started to move down. Mortgage rates have been moving down. They’ve been moving down as a result of where the Fed is going to help fight inflation. Their 2% target, and it could be 3% or 4% in the future, who knows where they’re going to go? The 2% target, we’re seeing it coming down but not as fast as they like. Those other three-quarter hits haven’t necessarily taken hold yet, then the half hit that just happened. All those things will take a hit and they’re trying to target employment.

I want to make sure that you’re secure with your jobs and all those items. I don’t want to put you into a bad situation where you get a loan that you can’t afford or a home you can’t afford and the job security isn’t there. We have those heart-to-heart discussions as well. I don’t want to be the job police, but we have to have those discussions because, all of a sudden, you get a, “We got a loan. I lost my job.” Anything could happen and I understand that, but we want to have a good understanding about that position, what you’re doing, and also about you gulping in a new obligation. We have those discussions.

We had a lot of those during COVID. We were able to get some loans done, and then some industries were on hiatus, and then when they came back, we got the loans done and vice versa, back and forth. It’s like the entertainment industry that normally occurs. Some people are on a job, and then they’re not, and then they are. We go through that already with certain professions and it ended up being a lot more professions than it has in the past. We also had different individuals who have changed professions, so we have to account for that.

During 2022, we also went through the whole thing about everyone’s forbearance and not making a payment, and then getting back on schedule, showing that they’re able to make at least three payments to get back on par. We’ve had some individuals who were doing that, and then during the process, their loan got sold to another lender. That other lender or servicer wasn’t willing to pair and put the money on the back end of the loan, and then they called the loan not due, but they wanted all the balance at the end of the forbearance. That wasn’t possible. We had companies that had stepped in to help those individuals negotiate. That is a necessary item. Sometimes it’s medical, sometimes it’s lender-related, and sometimes it’s consumer debt, but that is necessary.

One of our new sponsors with our program, Financial Sanity Now, works with that. Last episode, we had a segment on items and we’ll have some spots on those as well. As we head into 2023, we’ll have some additional items and directions going towards solutions for those who need those. We want to work with individuals going through each and every part and balance of their real estate life, those who’ve had a hardship but those who have been running successfully, maintaining that success, and growing even further.

With that said, we’ve been working with individuals reducing their obligations by 1/2 to 1/3 the time, reducing the monthly outlay and creating additional wealth. Some are freeing up monies in order to move forward and buy additional real estate or invest as they wish. Some are creating additional nest eggs affording college and other items for their family. We’ve been able to sit with individuals and run online meetings, go over the items in depth, and then dive into their numbers and show them the savings that can exist.

This is where it starts. I don’t like going on second base before I hit the plate. Let’s start at the beginning. I’m looking for your information so I can send out to you three links and maybe an item to hear from one of our past shows. When you get that email or text, you can click on those items, they are safe, and they’re coming from me. You’re going to review a very short video, items, and demonstration of what this is like. It’s a financial GPS system that can work well for you. We’ll go over all the details. There are no secrets. Going over it on the radio doesn’t make great sense because as you’re driving, you’re going, “What? Who?”

Bottom line is we are looking to reduce the amount of interest you are paying on your contracted debt. That’s your credit cards, your student loans, your mortgage, or any other item that you have interest tied to. It’s not settling and it’s not not-paying what you owe, but it’s paying it sooner. It’s not, “Let’s throw an extra hundred in. Let’s throw an extra thousand in.” No. This is not utilizing monies extra. This is doing it in a perfect way of doing it that’s creating the ability to eliminate interest in terms of time.

Interest Rates Moving Up

My loan is scheduled about 135 months faster than it would be if I was making mortgage payments. It sounds interesting. I think you’d be interested if it was 24 months, let alone 48, 96, or 135. If you can eliminate that much interest off your loan, pay your obligation, and then free up capital for wealth creation. Now, interest rates have been moving up on the consumer side. You can go find a 4% interest rate on your savings. You can possibly gain through other investment vehicles and other rates of return. Even going to the local institutional or online bank, you can go get that 4%. I have one of my accounts earning 4.7% now. If you can earn that kind of rate of return and eliminate these other payments and have that money work for you, you’re not only eliminating debt but you’re creating wealth, so they work.

Think of amortization and our compound interest. Think of compound interest. You all had those lessons back in school. I know that’s a brain hemorrhage to some going, “No, not money, not numbers.” That’s why I’m here. Compound interest, your money grows and compounds. Think of it opposite. Think of that going and having your interest being eliminated as fast as compounding interest going that way. Let’s go the other way. Let me show you how very little can turn into a lot. (888) 543-3980. You can email me at Radio@United4Loans.com. As we wind down the year and start the new, not as many of you are stepping up now. I got it, but why not? Take a moment. Let’s get your place. Let’s set an appointment. I want to talk to you and see you the first week of January 2023. I want to talk to you.

We’ve had many meetings during the holidays here with individuals and families who were looking to make the extra interest stop, get the right interest and the right payments for the right solution, get a plan, and put it in action for 2023. I want to talk to you. I want initially a moment so I can send you a text or an email. No time obligation. No direct communication. We can do that but not necessary. I want to send you three links for you to review, and then an overview, if you choose to, which is 7 minutes and 19 seconds. I’m not looking for a lot of time and a lot of obligation. You can view these on your own, and then let me know what you think.

I had about six individuals let me know what they thought. What they thought was, “I want to set up a meeting.” We’ve been able to set up these meetings. We sat down with each of them through a computer for a one-hour timeline. Reviewed, answered questions, and provided answers and solutions. They’ve now provided their financial information. We’re inputting those items and we’re having a follow-up meeting to show them how much money can be saved with their exact information. Not an example of somebody else’s, it’s theirs. We’re going to talk, sit down, look to move forward, and start the savings journey together. We’ve done that over and over again. No two people are alike, but this is something that you can do. Maneuver your mortgage rates effectively below 2% by eliminating backend interest.

We’re a mortgage banking company, United Mortgage Corporation of America. My goal is to help you with your next transaction when it comes to your real estate life. When you’re looking for financing, whether it’s 10, 15, 20, 25, 30, even 40 years, or even an intermediate ARM, Adjustable Rate Mortgage, FHA, VA, we are here to help. If you’re driving somewhere, going on your way to somewhere, maybe heading back from somewhere, I understand you got a lot of things going on, but you dropped in for a moment.

Let’s get the number down. If someone’s in the car with you, hand the phone to the person next to you. Hands-free, let’s go. I wanted you to have the number. It’s (888) 543-3980. If you write that number down, you can utilize it another day, that’s fine. Get the number down because I want to help you come and get things done in 2023. I want to make sure I can help you move forward with your real estate life and save money starting now.

The earlier you call, the more I can do, I can get you out an email and information. I can send you out three links and also a past program link where I can show you a segment that gives you an overview. That overview is going to help save you money when it comes to all items tied to interest payments. I’m not removing and alleviating any of the contractual debt that you have, but I’m here to help you eliminate interest sooner and save money. No obligation. I want to send you out a text or an email and I’d like to know your opinion. We can then move on to talk further or you could tell me it’s not for you. Not for you means you’re not saving a lot of money and I’d like to show you in no charge how much money you can save.

It’s been phenomenal. I had an individual, and I’ve told this on the previous shows. She owes $85,000 in consumer debt. No mortgage. The debt was scheduled to be paid off in fifteen years based upon her agreements, numbers, and where she has been paying. Under this financial GPS system, it’s going to pay her off in three and a half years. She didn’t take another job. She’s not living on pork and beans. She’s doing everything she was doing before, but doing it in a manner that’s financially savvy and these decisions are being dictated to her with the input of her information and she owns that system.

It’s an incredible opportunity and it’s very difficult to get everyone to do something that they haven’t done before, but I want you to become the bank. I want you to do as the banks have done and the insurance companies have done and you do that for yourself. We are a loan company. We’re a mortgage banker. We close loans on warehouse lines. I help with purchases and refinances, residential or commercial. I help on conforming high balance, jumbo, FHA, VA, and USDA. I can help on bridge loans. I can help on all construction loans. We’re approved in five states. We’re approved in California, Colorado, Montana, Texas, and the state of Washington.

Many loans that we can close DSCR loans, Debt Service Coverage Ratio loans, we can close in about 35 different states. As you have rental property, we can discuss that as well and I can get the job done. We’re efficient. We spend your money the way we spend ours sparingly. We want value for our money and so should you. You want to make the right decision. If you’re working with an individual now and you are not watching what’s going on in their interest rates but all you heard are rates were going higher and you’re accepting that, rates are going down. They’ve been going down on the mortgage side on the long-term side.

I want to make sure you’re getting that savings passed to you. Maybe you’re paying little to no points because if you’re not spending a lot of money upfront, then you’re in position to refinance as rates go further down in 2023. If you’re getting money from the seller crediting towards close, I want to talk to you about effectively using that so you can save money now and still have that money for you towards a refinance. If the rates do not come down, it’s there for you for those periods of time that that money was utilized. Whether it’s a 3-2-1, 3 years buy down, 3%, then 2%, then 1% lower than market, and then it fixes out after that. Whether it’s a 2-1, it’s 2 years of that or 1 year of that, there are various variations that we can discuss.

I want to go over what details you have and what you’re looking to do so we can make the right decision for you and your family. This is your decision, but you need the right information and we’re about education. The education is to put you back with your money as soon as and as fast as possible. The more money you have is what you can do with it rather than what obligations you have to pay it.

Moving To Other States

In our next segment, I was going to go over a few items, some statistical items and I’m going to go put those in front of me. We’re talking about different families at the end of the year moving from one state to the other and I actually got a whole interesting article and named all the states. It gave the top five states in which people in those states moved to. It’s interesting. It’s regional and different, but I’ll go over a few highlights of that when we come back.

It’s something where people are moving but people are still coming to California. It’s the affordability aspect of what people are looking at and they’re worried still about the values of property, but the demand is high. Inventory is still low. Interest rates and mortgage rates, as they start coming down again, maybe not down to 2s and 3s, but we’re sparking activity again and values are starting to hold even longer or even going up because more people are coming back out to purchase who then started to wait.

When we look at home prices going down, we’re not talking about falling down and getting hurt. At this moment, it looks like it’s very low single digit, if not even that, it’s still a fraction. Depending on your ZIP code or your market, we run the analysis. From a lender’s point of view, we’re taking addresses, we’re running those, and we’re looking at values from past, present, and future. Maybe we’re not looking at the high end, but maybe we’re looking at that median end now as far as that fair value. For a while, you had the low, the medium, the high, and it was always the high because it kept on going and people were bidding them up.

If you are able to buy at a median number and not have to overbid, a higher rate is not a bad thing because that higher rate can go away. You’re marrying the home. You’re going to be dating the rate. You can change that. What I’m trying to accomplish here with you, I want you to divorce the debt. I want you to get rid of this debt. I want you to figure this out and get that debt removed as soon as possible. I may help you to gain the debt to get the home, but I’m also telling you, the best way to maneuver and eliminate that debt as fast as possible.

Whether it’s lower rates or ways to eliminate interest. We’re going to get you coming in, going through, and on the back and we’re going to make sure you’re efficient all the way through the process. It’s not, “I didn’t know.” It’s like my son growing up. When you tell him something he doesn’t listen and eventually it happens, and he goes, “I didn’t know.” That’s what we’ve been telling you. That’s what I’m telling you now. I want that money to be yours and that’s why I am here talking to you. At the end of the year or beginning of the year, this is what I’m doing. I want to be sure you get the message that we are here to make a difference and save you money.

You have things going on, I got it. You’re running here, you’re running there. End of the year, you got all this stuff happening. That’s great, but take a moment, let’s get the number down. I’m going to give you a number and I’m going to give you an email address. Ready? (888) 543-3980. Email, Radio@United4Loans.com and Michael@United4Loans.com. I want to help you with your real estate life. One more segment to go.

End of the year and beginning of the year, we are here. We’re here helping you with your real estate life. I want to make sure you’re saving money. You have things going on. I understand it’s a busy time, but I’m still here. Work with me for a moment. If you have a chance, go ahead and text, (888) 543-3980. Let me know you want more information about saving interest in paying that interest off sooner. I’ll send you three different links, take a look at it, let me know what you think, and you’re done for the day with me. That’s it. I’ll get those out to you. You’ll have those ready. You can email me Radio@United4Loans.com. That will come to me as well. I’ll get those out to you. I won’t rest until I get that information out to you, then we’ll check in with each other. Maybe we’ll set up an appointment in January, but I’m here to save you money. That’s it. We’re done. Goodbye.

Bottom line is, I have something to offer you without an obligation. You could find out what it is and what it can do for you and it won’t cost you anything. Not doing it, it’s going to cost you thousands of dollars. We had an individual who ended up saving based on numbers because we were paying off the loan early, and then based on the money that they didn’t have to pay, even taking a 1% growth rate on the money that they didn’t have to pay anymore because everything got paid off sooner than their existing contracts. We were saving them over $900,000.

That’s not for everyone’s number, but that was crazy money. We’re seeing 100,000 to 200,000, money saved on interest. That’s not even, “What are you going to do with it if you put it away and earn more money on it that you paid it off early?” Maybe you buy more real estate and you have rental income and you’re making more money, and then you have appreciation. Who knows? There are many things you can do. Where are you in your real estate life? We have individuals who are just getting started. I talked to a couple, they’re getting married. He’s in his 30s. She was also in her 30s. They’re getting married and they were looking at this obligation with her dad, his dad, and what was going on. They’re also looking at the future. What it is they’re looking to accomplish and do?

Financial GPS System

What’s unique about this financial GPS system is you can enter in that vacation or that potential car or purchase and it will move your needle from, “Everything’s paid off in 12.2 months to now 12.6.” Whatever the case may be. It’s going to show you what changes are done. Let’s say you get a bonus. You just got your holiday bonus maybe. Maybe you have overtime that’s going to pick up in 23. You can enter these numbers in the systems and it’s going to then tell you what, where, when, and how to maximize the result. You can see $100 of discretionary income, positive each and every month, you will see a tremendous difference. That’s all I ask. Slightly positive, $100 discretionary income at the end of every single month, you’re going to see years cut off the interest that you owe.

Let me send you these links so you see them and then you can tell me what you think. At least let’s get that far. You’ve been tuning in to me for a number of years. I’ve been doing this now for so long. I’ve been owning a mortgage banking company for a number of years. I’ve been in the industry for many years of saving people money, doing the right thing, and getting people into homes, refinancing homes, and helping them with their real estate life. Your real estate life is what I’m focusing on now.

One of those focuses, especially with the change in times and things that have been occurring, it’s staying and keeping what you own, but having enough control you and having you take control of your finances. Many of you have not been shared and told how to handle money. You do what you do best. Someone could tell me, “To have surgery, you go ahead and cut here and do this.” I’m not cutting myself, neither is a doctor, he shouldn’t be. I may know what needs to be done, but it doesn’t mean I’m the best to go do it. This is what I do and I want to help show you so you understand. Not that you have to become an expert. The financial navigation or GPS is going to do that. You’re going to understand that it is doing that and you’re going to look at that, understand it, follow that, and save money.

I need to show you how that is done. If you keep your finances, you write checks, you pay online, you have a ledger, you look at your incoming, you’re outgoing, you’ve handled your bills, you pay a minimum, you want to focus on this bill, or you want to eliminate this one, this is for you. It’s going to simplify your life, it’s going to eliminate arguments, and it’s going to plan things from past, present, and future, and do it the most efficient way possible.

Estate Planning

I have a group of individuals that I talk with on a regular basis. Many of them have actually eliminated their debt, but what they’ve done is they’ve now utilized this for their kids, they utilize this for their family, and they’ve gotten them involved to it to utilize it as a mantra for their legacy going forward. The family is in a much better position. They’re able to protect their family. Part of that protection is also extending out to estate planning, the right insurance, getting everything else in the right position so you’re protected. It’s not when something happens, you figure out, “What can I do?” It’s too late.

I’ve had the experience of being involved in some items. Some of you reading have as well, from fires to earthquake to various other things that have occurred in your past. Insurance-related items, vandalism, and various other things occurring in different neighborhoods. Having the right protection is what made the difference. I had a home in Northridge at the time during the Northridge earthquake back in 1994. Without the earthquake insurance, I would’ve been in a really bad position. I would’ve been hampered for many years. I had an earthquake insurance. It worked for me and it was able to allow me to go forward. I’ve had insurance for other items and some minor items, nothing too major.

Some of you have had issues where your home and fires living in fire areas and getting insurance now hasn’t been as easy. Some insurance companies have pulled out of different areas and regions. It’s important for you to also check in with your insurance carrier. If renewal’s coming up, you want to make sure you have a renewal coming. You want to plan ahead. Take a moment to itemize and understand when your renewals are, whether it’s your homeowner’s insurance. Also, if you own a home, do you have an estate plan? Do you have a healthcare directive? All these things are important to consult with a professional.

On our program, we have someone who joins us on a regular basis. She comes on our program. She’ll be back in the middle of January. She has special segments. Those segments are very important because people make decisions and then it’s too late. We’ve had individuals that have quick claim property to, kids this and that. The tax ramifications are unspeakable. We’ve had items where people have done a trust but they never funded their trust and that doesn’t work either.

We can close loans in a trust. It used to be you take it out of the trust, and the day it records, you put it back in. We could do that too, but we can fund loans in a trust. We can get the job done and we’re going to help navigate you through that process, answer your questions, and provide solutions, but we need to hear from you. You may not need us now, but you may need us tomorrow.

Loans For Multiple Generations

Over the years, we’ve done loans for multiple generations. We’ve done four generations of families. I got started right out of college. When I was in my twenties, I was working with people in their 50s, 60s, and 70s. Those people had kids who were then still older than me. They had kids that were close to about my age, and then now they have kids as my kids now are 21 and 23. They have kids. I’m helping the fourth generation. It’s an amazing item where I’m touching each of those families and generations all the way through. I’ve been referred to other family members on offshoots of the tree, from cousins to uncles to aunts. I’ve done that as well.

When I’m looking at that generational difference, the ones who are younger as my age, some of them didn’t know their great-grandparents and that’s all additional based on the timelines. The fact that I actually touched finances on each of those, to me, sometimes it’s emotional. I want to think about it. It’s similar to an insurance agent who writes life insurance and never had the need to provide a policy payout to a spouse for an unfortunate event, but it was fortunate enough that they have the policy. That’s what makes sometimes a difference in an insurance agent and the delivery and understanding that they have in doing the job that they do by providing solutions for families.

When I had the earthquake back in 1994, I knew how thankful I was to have that earthquake policy. Some people now, I’d say 70% of individuals don’t have earthquake insurance, but there’ll be that reckoning a day, it will come, sorry, and we’ll go through that and understand what it is and we’ll have those discussions, and then people will be looking. I’ve had my representation from my CPA now since the 90s. He’s been with me a long time. Initially, I’ve ran into his practice because I was helping in CPAs at the time after the Northridge earthquake helping people with solutions and finance solutions that the banks were offering with low interest rates.

Back then, the SBA was offering what was called free lending at 3.625%. Free lending, we almost had that or we did have that for quite some time. Now, rates are higher than that. It’s finding solutions for individuals of need, but it’s also looking for those needs before they occur. I’m a problem solver. I look for problems so they’re not becoming one for everyone involved. My office knows. If there are no more problems, make sure I’m okay because I’m looking to solve items before everyone else has the items to be a problem. I’ll do that throughout the course of your real estate life, your transactions, and your family’s thoughts.

Now, we have a debt problem. Many of you got comfortable with the debt, you get used to the debt, and it grows on you. I want to help alleviate that debt. It’s not to alleviate the debt so you can get more debt. That’s not the idea. It’s coming up with a responsible way of handling and paying obligations to do that as fast as possible without changing your lifestyle. If I can show you that, is it worth reviewing 3 links and a past program of 7 minutes and 19 seconds? I think so. I think it should cost you a lot of money to go review that, but I’m not charging you for that.

If you have plans to purchase, I want to talk to you about putting those plans in action. I want you to be the best you can be so you can buy money the cheapest possible option for you. If you’re self-employed, we can talk about bank statement, asset depletion, and other loans using bank statements, no tax returns. If you are W-2, I want to talk to you, look, and see if you have overtime, bonus, or other items that need to go into play. I’m looking to get you pre-approved. We’re working with a number of individuals now who are buying new homes being built.

Just because you’re buying a new home doesn’t mean you have to use the developer’s lender. In some cases, they’re not cheaper, they’re higher even though they may be giving an incentive towards your upgrades, but sometimes it’s supplementing those upgrades because of what they’re giving to you. Sometimes the developer may give a subsidy based upon price. Sometimes I will advise, “That’s a pretty good item. Keep that going. Let’s see how that develops because that home isn’t going to be ready until possibly August.”

We want to look at the timelines of what’s happening and what would be occurring as the market changes. I can do that and work with you going forward. There are loans that I will say if a lender is already through the process, I will help encourage you to close with them but also do it at the right price because I don’t want to interfere or cause delay. As I’ve mentioned on our most recent previous programs, I stepped in during Thanksgiving and closed a loan in 2 weeks with a Thanksgiving and 2 weekends, we got it done, and we closed on time on December 5th. It can be done.

You need the right person who’s interested in your results rather than just pushing you along and saying, “I guess we need an extension.” You need someone who’s aggressive in taking care of your business and making sure they’re saving you money. That’s who you’ll get at United Mortgage Corporation of America, United4Loans.com. I am here to make a difference in your real estate life. Go to YourRealEstateLife.com. That’s our show site. You’ll see all of our past programs there, almost nine years of programs. I’m not asking you to binge. Don’t do that.

Just call and have your own program at (888) 543-3980. You can go to United4Loans.com to get started. You can fill out an application. You can also upload documentation. We can get that loan started. I don’t lead with running your credit. I’m not looking to do that. I’m looking to gather your information, get you pre-approved, talk to you about credit, and then do that as the last item.

It’s been an honor to be here in 2022, starting your 2023. We’re going to be here for you all during the year as you make decisions about your real estate life. Pick up the phone. Call us at (888) 543-3980. Website again, YourRealEstateLife.com. You could follow the markets as they are open. In January 2nd, the markets closed. It’s a national holiday, so we’ll be doing that. We got some holidays as the year is ending as well. We have a little bit of the lesser traders on the market, so we’ll be aware of that as well. I’m here to help and talk to you. It’s been a pleasure. We’ll talk all throughout 2023. Until then, what kind of loan do you have?

Important Links

• Financial Sanity Now
• Radio@United4Loans.com
• Michael@United4Loans.com
• United4Loans.com