Memorial Day

• May 29, 2023
• realestatelife
• Podcast

It’s Memorial Day weekend. To those in uniform serving and those who have served in the past, you may want to think about saving money and using that money for proper use, whether it’s for you or those you care about. Michael Harris is here to help you keep the money you worked hard for. Tune in and learn how his Perfect Financial GPS can help you with that goal, whether you’re a veteran or anyone. Tune in and learn how to reach out to Michael and leverage his expertise to secure your future!

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Listen to the podcast here

Memorial Day

I want to know what kind of loan do you have. I’m Mike Harris, President and CEO of United Mortgage Corporation of America. I’m licensed in California, Colorado, Montana, Texas, and the state of Washington. I have to have an NMLS number in order to do loans, mortgage loan origination license, which is 233410 for myself. As my company, it’s 3189. I’m also a California-licensed broker. I don’t list, I don’t sell, but I do have that. I’ve had that since the inception when I got a license many years ago. Back in the day, you had to have a salesperson or broker’s license to do lending as well as someone doing real estate, I have that. I do my continuing education every four years, I have that. Every year, I have stuff for the lending side whether it’s 8 to 9 hours every year or 45 hours every four years.

I also have an insurance license for life, health, and disability. I don’t write, but I have that knowledge and I have that license, so I renew that every two years. A lot of licensing, a lot of updates, a lot of education, a lot of information. I’m staying up-to-date with what’s going on so I bring that to you. I want to talk to you. I know it’s Memorial Day weekend. You got a lot of stuff going on. You got the hotdogs, the hamburgers, and the chicken. You got everything going on. You got family over. You’re at the beach. You’re doing things. You’re finally getting out. I got it. If you tune in, what I ask you is this, write down the number. (888) 543-3980, that’s (888) LIFE-980.

You can hand the phone to the person next to you. Make that phone call, get it in your phone, and that’s fine. Hang up. Not the first person who hung up on me, I got it. You can do that. Take the number down and then call me when you have that opportunity, whether it’s on Monday, even though it’s the holiday, or any time of day during the week, that’s fine. You can also email me at Radio@United4Loans.com. When you email me, of course, I want to know what I can do for you. I’m very solution-oriented.

On this program and on programs prior, we talked about a perfect financial GPS program, which will allow you to be debt-free in the timing, much better than you are on the path to do now, by attacking early interest. It’s churning down that interest volume. It’s turning up the frequency to lower your interest volume. That’s what I’m looking to accomplish, a perfect financial GPS program. My personal debt mortgage and items are going from 26 years down to 7.7.

Your Money Back

Let me share with you how you can gain all of that, some of that, in some cases you’re not calling, none of that. My goal is to put the money back in your pocket and allow you to create wealth. Allow you to additionally add more doors if you’re a landlord in the sense of your investments or you’re looking to invest that appropriately, or even through insurance or other items that you can do where you could become the bank. Let me show you how.

To those in uniform serving now and those who have served in the past, we honor you every day. Thank you for your service. Thank you for what you have done. It’s not something that I was capable of doing. That was not my best place to be. There was a slight decisionary process back in the day. I did have that my senior year. I was talked to about that and it wasn’t the path I took, but I do thank you for your service. We’re here as a result of you.

I’m here to help you save money. Many of the members in the service, I’ve been able to help through VA loans with 0% down. Various times, refinancing them and doing what is called a dropdown to the rate, interest rate reduction loan, and getting them lower and lower as they go. I’ve had various servicemen refer other servicemen to me. We’ve helped them create and additionally obtain other properties where now they own 3-unit to 4-unit properties creating additional wealth. We have some of our service members who get disability and have a certain percentage of disability, which allows them to have no VA funding fee when it comes to closing that loan.

There are some lending advantages that can be accomplished. We’re very big on getting those done and getting those done timely. We also worked through the real estate community over many years. When they hear VA or FHA, they have an akin to think it’s more difficult. It is not. We’re able to get to the service members and others who are utilizing FHA financing into property and effectively getting the job done. If you’re looking to get pre-approved, give us a call at (888) 543-3980. I’ll send you out a checklist of documentation information so we can get you pre-approved. It’s not a prequalification, it’s a pre-approval. We verify the information.

Thank you for joining us on News Talk 1590 KVTA and those of you streaming at KVTA.com. We have our Sunday audience that’s normally every other week on K-EARTH 101. They join us here on KVTA.com as well. Welcome to our program as always. I’m here about the results. It is about that. It’s your money, your results, and your numbers. I’m doing what I’m doing and I’ve been doing that for years. I’m saving money and not paying as much interest, and I do that at every cut in every corner. I’m looking to bring that to you as I’ve done now for many years for my clients and my audience.

I’ve been on the radio for many years. I’ve been doing that here in the Southland. I’ve been on other stations throughout different regions of the United States over the years. Getting some opportunities again in about 30 other markets. We’ll see how that all goes and I have to see how that all plans out if at all. I want to make sure you have the best information. With that, it’s getting an education. Many of you know quite a bit, but sometimes you know quite a bit and you’ve got a very bad formula and it’s a very bad mix. It could potentially be an explosion in the lab. I want to make sure that your ingredients are right and you’re getting the right results. It’s not the same old same old to get the same. I want to make sure you’ve got the best options available and they’re reviewed.

The best answer is, “You’re doing fantastic.” I had an individual I was speaking with and I said, “You’re doing so well, but there’s one other tweak that we can do that you can churn the corner.” He goes, “Really? What?” We went over it because this person loves numbers and spreadsheets. They’re on top of everything. I showed him the opportunity that I had been mentioning, the perfect financial GPS. I showed him how he was able to capture a little bit more than he was doing before even though he was on top of it. He was spending a lot of hours every month making sure he was making the right churn at the right time without any checks and balances but just doing it freelancing.

He was doing well, but he was leaving a few years on the table. Based on his obligations, it was quite a bit. I started showing him and he said, “I see that you have this presentation you want to do and I appreciate that, but I do understand what you’re saying and it makes a lot of sense. Let me take a look at the links that you’ve sent because I didn’t have the time to do so yet. I’ll look at those, and then we’ll touch back.” I respected him for that. I didn’t want to push and I’m not going to.

About a week later, he got back with me and I thought I was going to go on with him and go over some stuff, answer some questions, and go forward. He says, “I’m ready to go.” He took the bull by the horn, went and did it. He’s saving a lot. He’s got many things going on. He’s got younger children, he’s got that ahead of him, a newer marriage, various things with obligations, and various points in his life, a good job. He was organizing all these items himself which worked, but it was also taking a lot from him. Now, 10 or 15 minutes. I know with him, it’s going to be an hour because he will take more time. He wants to but he can go through this and have everything in one location or one spot working for him day and night. It was actually being a little bit more efficient than he was.

The thing that I like about this opportunity is I have someone who doesn’t talk back to me who perhaps is smarter than me. It’s fantastic. Each day, I open up the opportunity and I take a look and it tells me what I’m doing that day as far as transferring money, moving money, and paying for items. It doesn’t pay your bills for you. You still have to do that, whether you ACH online or however you pay. It’s all programmed because what you’re doing is you’re entering the statement date and the due date.

The goal is to keep the money as long as possible. It tells you the utmost optimal date to make the payment. You then go in, you execute, the program updates, and you move forward. It starts knocking off the time, does what it does, talks about the interest and saving, and gives you everything you need. You can get spreadsheets, charts, month-to-month, year-to-year. You can do all these fun things and they’re all done just like that. It’s not you going into your program and going, “Let me.” No, you don’t have to take that time. It’s all done instantaneously. It’s incredible.

Let me share that with you. I want to send you out a few links so you can get familiar. No obligation. Your information is not being bought or sold or going anywhere else. It’s stopping with me. I’ve said this on previous programs and I do get a lot of responses. On this off-week program, I usually don’t get as many of traffic coming through from you, our audience. It’s an opportunity to get onto the appointment schedule a lot cleaner. I implore you to send me the email so I can send you the information. I love to get you on the calendar so I can get you an appointment because I spend enough time with each person. The problem I have is I don’t have 160 hours of my week.

That’s where I’m looking now through webinars. I’ll be looking to start here in June 2023. I’m going to be doing that first meeting with many on a screen. Whether they’re visible or not, that’s fine, but I would like that, then I would be able to share screens. Show and do that presentation and share the information. I’m looking for individual appointments with people who are looking to go forward to run their numbers. That is the same process that we’re talking about here. I’m trying to reach more people. It’s not out of greed. It truly is not. It’s because I want to reach more people. I want more people to benefit by the usage of this opportunity.

With that said, in the Irvine area at the Hilton, Orange County airport on June 23, 2023, we’re going to be doing an opportunity meeting on a Friday evening. It’s a Friday night, I got it but I’m going to save you a lot of money, so you’ll have more money to enjoy other Friday nights. At 7:00 to 9:00 PM, there’s going to be an opportunity training that I want to show you how this works. I’m going to be there. Leadership will be there and various other items. It’s going to be at Hilton out there by the airport. If you want more information, send me an email at Radio@United4Loans.com. I’d love to see you there. If you want to get started before that, I’d love to have you already working in the program. I’d love to see you there anyway, but let’s get you started.

I don’t want another month going by with you losing money to interest going somewhere else. I want you saving money. We’re saving people $500, $1,000, $2,000 a month of interest. All of this will be information that will be shared with you about you and where you are now. Again, I say junk in, junk out. I want all the good information. I would send you out an item to fill in with your monthly expenditures, what comes in, and what goes out, whether you’re looking at your annual expenses, your semi-annual expenses, your quarterlies, or your monthlies. I’m looking at all these items and I want to put in that information to get the best results out to get your debt-free date.

You could always defer away from that because being debt-free isn’t the goal of everyone because they want to leverage to create wealth. We could do that too. I mentioned interest volume and some of you are still probably confused about the concept. Interest volume is the difference between an amortized loan and an interest-only loan or what is called simple interest. If you think about a home equity line of credit, many of you are saying, “The rates have gone up so much on my payment. The interest.” You’re paying interest only. Although prime is at 8.75%, potentially 8.5% on a June 14th meeting, we’ll see how things are going there still, but we’re nearing the end of that cycle.

People have an equity line at 8%, 9%, 10%, or even higher. They’re going, “This rate is incredible.” It’s simple interest or level interest. If you look at your mortgage statement, how much is going towards interest on your monthly payment? Is it 62%, 73%, or 84%? Depending on your rate, you’ll see that. Depending on how far you’re in, you’ll see that. Somebody was saying, “I’m doing good. Fifty-two percent was going still towards interest.” I received a number of people emailing their statements to me at Statement@United4Loans.com. I was running an analysis. We then discussed it, going over various items, understanding their discretionary monies, and then looking to set appointments up to show their debt-free date and how we may be able to assist.

This is not a refinance. It’s not a debt consolidation. It’s not debt forgiveness. This is not some program that’s going to go screw up your credit. We are working alongside some of those programs to help improve results and get you out of that a little faster because it takes a little while to get into a mess. Sometimes it’s a few steps to get out of it, but hopefully, faster than it was to get in. My goal is to get you back on the right path with the right destination as soon as possible in the most efficient way. We’re trying to go. If we’re trying to get to Hawaii, we’re going off the coast here in California towards Hawaii, we’re not going to New York then to Hawaii. We want to make sure we get the right result.

Different Times, Different Problems

Back in the day, you used to use roadmaps. They were in your glove compartment of the car. You remember. You had payphones. Pay what? Some of you were going to payphones. What are you talking about? You don’t have those anymore. Things progress and things move. You become more efficient as a result. You used to go to appointments, those of you in sales. You used to drive hours to an appointment, and then you got there. Just because you couldn’t call ahead, you didn’t have a cell phone, you weren’t getting off the freeway, and then all of a sudden, you find out they’re not available or whatnot, and you turn around, “Life lesson.”

Now, things have gotten different. We have different problems. We’ll have new ones I’m sure in the future. I’m looking to resolve a financial item and create efficiency, not wasting money in the hours you spend earning your money, whether you’re salaried or self-employed, you have residual income coming from annuities or pension. Whatever the case may be, I want to make sure it’s effectively being utilized in the best way possible.

I’m here to do traditional lending. That’s what I do. I’m a mortgage banker. If you’re looking to purchase, I love to get you pre-approved. Make sure you’ve got the right result for the property that you’re looking to find. Make sure you get a pre-approval letter. I run credit as the second or third item, not the first. The first item is talking with you, understanding your goals, what you want to do, and understanding you as far as income and down payment. We talk about credit. I want to gather your documentation.

I’ll send you out a checklist, whether it’s 1040, tax returns, not the California 540, a corporate return, 1120, partnership, 1065, or NK1. If it’s a pension, Social Security, disability, or awards letters, I want to see those. Some of you are divorced, get child support, spousal support, or if you pay, we may need to get copies of all those in order to integrate that into the process. We work a lot in divorce situations where one spouse is buying out the other or perhaps they are looking to both buy. We are looking for the best way to put that together as well in the best timing.

It’s learning all this information and understanding and it’s coming from you. If we need 10 items, I need all 10. Not 7, not 6, but all 10. If you give me 7 or 6, I’m going to ask you for the additional 4 to 3. I need all items. We then could decide together what is the best loan, whether it’s bank statements for cashflow or, “We have a good debt to income ratio. The amount of debt you have, principal interest, taxes, insurance, monthly debt, car payments, credit cards, and minimum payments, meet your income as a percentage. The lender feels comfortable lending to 40%, 43%, 45%, up to even 50% debt-to-income ratio. We find out the best rate to deliver with and for you. That’s the best thing.

When people call up and say, “Mike, what’s your interest rate?” I have no clue. It can range from here to here, but I have no idea what situation you’re in. Whether you’re self-employed, you write off aggressively, you have great cashflow, or you have a W-2 job but you have overtime and bonus. I need the history of the overtime and bonus and show that. If we can’t get that through some of the automated verification of employment processes now, I may use your year-end pay stub that shows the breakdown. Maybe sometimes even two years depending on where we are as we’re now almost in the middle of the year. It’s getting the tax returns. Some of you haven’t filed those returns or filed an extension. Sometimes those returns could be important depending on where we are.

It’s gaining all this information and understanding to put you in the best light possible to get the best results and eliminate risk. Once I get you into a property and into a loan, it’s my job to make sure you have the most efficient method to make payments on that loan and save as much money as possible. That’s where the perfect financial GPS comes in. Sometimes be careful what you wish for. I might get it for you. I can maybe qualify you for more than what you’re comfortable with. That’s where I listen and understand what your payment comfort is because some of the first questions I ask is, “How much are you looking to pay each and every month?”

Usually, it’s conservative to what I can do, but sometimes it’s too aggressive. When it’s too aggressive, then I’m wondering, what other income do you have that I’m not aware of? “I receive cash every month from.” That goes into the process of bank statements, cashflow, and other types of loans that we’re not able to show on paper as easily. I listen and understand to help make those decisions with and for you. Once we do that, then you have a pre-approval for the purchase of a set above property. You locate a property. We’re then putting together a pre-approval letter.

I’m not one who likes to put together that credit card statement saying, “Hi, he’s pre-approved for this amount of money.” If you go find a property that’s less than that, your bargaining power seems to disappear. I like writing a letter specific to a property address. If you’re working with a local realtor, I have a talk with that realtor and let them know what you qualify up to so they’re aware of what they’re looking for. Once they find that property, we can insert the property address to show it more personalized that there’s been a little insight into the property.

It’s subject then to the property appraisal perhaps or the credits we’ve handled, but maybe it’s the title report or the HOA, various things we want to take a look to but it’s not a you thing. You got handled. Now it’s a property thing. Now it’s where the realtor and other professionals are coming in making sure the home inspection and other items are meeting the standard. I had a transaction and I got a phone call from the agent asking if it was going to be a problem that the roof had a leak. It’s like, “We had the eaves. We needed a termite report. Can we close?” I go, “It’s a health and safety issue. If we’ve got a termite that’s mentioned and an appraiser comes out and sees, then it’s a problem.”

Enough Of Life Lessons

On that same note, some of these home equity lines or people who have property who need money to do these kinds of items, I can get a desk appraisal, which allows us to get the line so they can get those items fixed where a traditional appraisal would stop most of that in the process. Again, it’s knowledge and understanding of the ways to utilize the right GPS, not a roadmap. It’s utilizing the effective method to get to the right destination in the most efficient way possible, not hitting as many bends, problems, or roadblocks.

A lot of times people say, “It’s life lessons.” You’ve had enough of those. Let’s make it simple. I want to give you the experiences that others have gotten themselves into by you avoiding the same problem that everyone else fell into. I’ve seen many financials and many transactions over the years and I want yours to be a smooth one. I don’t want to be looked back and going, “Another one?” No.

I can’t say we’re having fun, but we’re having fun. We’re talking about money, solutions, and giving you back your money sooner than you may have contracted to in the first place. How’s that possible? No, I’m not asking you to change your lifestyle. I’m not asking you to be on pork and beans and go sit there in a tent on the corner. I’m not doing that. I don’t want you to change your lifestyle, but I want you to use your money more effectively. I want you to churn up the frequency to lower the interest of volume. That interest of volume is the true rate of interest you’re paying on amortized debt.

“Mike, I don’t know what you’re talking about. My loan is at 2.75%. I pay very little interest. This is awesome. I have a 30-year loan and I’ve got that rate. I bought it down. What are you talking about?” Take a look at that mortgage statement. “You don’t get a statement, I know.” Go online and take a look at it. Look at the breakdown of your principal and your interest. Do tell me, is the interest breakdown, is that monthly interest payment higher than the principal reduction? “No, Mike, it’s not. It’s low. It’s the other way around.” How much? Are you still paying 40% towards interest, or is it 60% or 70% towards interest?

Your 2.75% interest rate is being more front-loaded. Whereas if you were looking at an amortization schedule on your loan and you were looking at 25 years in, it’s going to be the other way around. You’ll pay mostly principal and a lot less interest because you already paid all the interest upfront because it’s an amortized loan and it’s skewed more interest up and less interest later. Our goal is to try to flip the tables. We want to utilize different areas of principles of money to lower, whether it’s 6 months or another 6, whatever it is of that front interest by paying the principles and using the principles of monies with your other debt to keep on lowering those items.

For example, a $300,000 loan at 6%. Let’s say we’re paying $5,000 and eliminating 6 months of the interest, and now we’re in month 7. Let’s say that $5,000 saves you $22,000 of interest. Interesting, isn’t it? That’s a lot of money being saved just on that one illustration. Imagine doing it on a repetitive basis with the right timing that you don’t have to contemplate or think about because it’s being done perfectly with mathematics. A perfect financial GPS is making that calculation for you. It’s amazing when you’re driving in the car and you’ve got this roadmap and you’re on your screen or on your phone. It’s telling you to go straight, all the fun stuff, and then you miss the turn. It then tells you, “Recalculate. Make a left.”

It’s getting you back to your destination in the best way possible, but the interesting thing about it is, certain applications now will even tell you or if it was the best route, you may not want to take it because the traffic will cause you to take longer. This is going to tell you ideally the best result with the best timing to get you to the final destination. Your traffic is life. As you enter in-life items, it’s going to recalculate to get you the best destination or the best timing. We’ve had individuals who have financed their vacations by putting in future items that they were thinking about doing. We’ve had people who are looking at a car payment for 72 months, and it only added 1 year and 2 months to their payoff date.

Effectively, the program was able to wipe out many years of that car because of the effectiveness of using money. I can’t go into all these principles because it would boggle the mind of everything. It’s like when you were young too. Remember, you used to try to compute everything by hand, then you bought the calculator and you said, “Why do I need to compute it anymore? I’ll just put it in the calculator.” Sometimes you have to know how to do certain things, but a lot of times, life becomes a lot easier. Remember when cell phones were these long and large brick phones? Cell phone bills for those in the early days were $2,000. That was your monthly bill. You had different plans, you used it, and you’re doing codes with people.

Back then, you had pagers, and then there were digital pagers. When the pagers go off, you have to pick up a voicemail. “How am I getting the voicemail? I got to get off the freeway or wherever.” Life’s problems, but I’m taking you further down the path. Those of you remember the old Remington typewriters pushing down on the keypads. There were electric typewriters, then you had correctioning. These electric things go so quickly. I hit the wrong button. I didn’t mean to hit that. Do you remember those days? Some do.

Remember the bubble jet printers? You had to line up those little circles there, get that done, and then tear and all that fun stuff. Remember the fax machines. What are those? A fax machine that didn’t even have plain paper, but you had the paper that was rolling up and you had to put the hard things on both sides to make a copy before it rolled back up. You put it in your file and you went back there in a few months and it wasn’t there because it disappeared the ink. God forbid the mimeograph machines. I date ourselves here.

The bottom line is technology has moved, efficiency has moved, and finances have moved. I want to help move you better and save you money. This is nothing, smoke and mirrors. This is all going to happen. My personal mortgage, which had 26-plus years remaining because I moved to a new home 3.5 years ago, is going to be paid off in full in 7.7 years. No change in lifestyle, no outlandish forecasts, no extra job, no extra this. I want to show you how you can do the same. Plan for your family’s future.

Debt-Free By X

We had a gentleman down South. His whole goal was he wanted to be debt-free by the time his kids were eighteen. It was a mantra for him. Debt-free by the kids are eighteen. He has two kids. We got it down on the last child, 17.2 years. This gentleman had quite a bit of items, quite a bit of things going on, very little discretionary monies and savings. We were able to utilize these principles and put them on a path that allowed him to see a future rather than see him trying to figure out where he was living and what it is that he can afford to do.

It gave him a path to follow that’s efficient and it was going to allow him to gain these goals. I mentioned the kids were 17.2. The kids were already 5, 6, 7, 8, whatever they were, so he was going to be debt-free in a plan. It was going to be under 12 years or under 10 years in those ranges. It wasn’t seventeen years to be debt-free. The kids were going to be that age.

Let me show you what this can do for you. It could help allocate for things that you want to get done that you’ve not been able to afford to do for your family and your kids. I’ve mentioned over various programs and a lot of you who’ve tuned in for many years have traveled through my journey with my kids. When I got started in the lending industry, of course, many years prior to them, and then on radio as well. My daughter graduated college. That’s my youngest. She could be starting to get her Master’s. I was able to have her graduate college. My son was two years earlier graduated college with no debt. I want to run that efficiency with you. I don’t want you to feel that there’s a burden on your family or legacy. She’s going to have enough money also for her master’s program.

Financial literacy is very important. I don’t need you perhaps gain a degree in it, but I need you to have a better understanding and then utilizing various items and tools that allow you to move efficiently to do what you do best. I was on the phone with someone in regard to a home equity line of credit. I was going over some terminology and I was taking it down to understanding and he had no idea. He was somebody who was more in the entertainment or music industry. He had no idea when it came to numbers and finance, but you could talk to him about sound, engineering, and all that. He was in his space. I’m trying to help navigate him through the process of eliminating interest and debt and being more efficient so he can do the things that he wants to do. Let me do that for you.

We’ve had an exciting program. As always, you can tune in to our past programs at any time by going to YourRealEstateLife.com or United4Loans.com. Now, you can have your very own program. Give us a call at (888) 543-3980. I want to talk to you about where you are in your life’s journey, whether you’re buying your first home, moving up, moving down, or maybe taking back in the family as they finish college and no place to go. Who knows? I want to talk to you and help you move forward with your finances and your debt. Reduce the debt. Eliminate the debt. That’s the key. Make sure you pay the least amount of interest as possible. It’s not just the rate on your mortgage because there’s an interest rate and interest volume. We’ve been talking about that.

The interest volume is the amount that you’re paying over the life of your loan. Those of you who have financed a house when you’ve got your closing papers and items, you have your closing documents and disclosures. On one of the last pages on the very bottom, you’ll see this percentage where it says 125% or whatever it is. It says total interest paid as a percentage. Now, ironically enough, the total interest paid is tip. That’s the tip you’re paying over the life of the loan for that financing. You’re paying over 100% in most cases. What I’m trying to do is attack that and make it much lower as low as we can. Of course, if you have a lower interest rate, that tip goes down, but it’s still astronomical as a result of overall. Your interest volume is a lot higher than the interest rate that you’re contracting for.

The APR or the Annualized Percentage Rate takes into account the cost of obtaining the loan upfront. When you got the loan, did you pay points, fees, and various other items that go into what is called the annualized percentage rate? If you have a rate now of 6% in your APR, I’m making one up 6.7%, the difference between 6% and 6.7%, your rate is 6%, but that difference is the cost associated with obtaining the loan and the points that maybe you paid to buy down the rate. If you paid a no-point loan, maybe you would be closer to 6.5% in that example where you bought the loan down and the APR then was higher.

That’s where you want the APR to be as close to the rate as possible because that means you’re not spending as much in fees, but you also then maybe are getting aside the higher rate and paying it over the life of the loan. These were where things come into play when we look at those timelines. What is the timeline of you in this property? What are your goals? What are you looking to do? Now, what I’ve been working through is when we gain their numbers and put this into play and we find out when they can be debt-free. We also look at the right loan to design based on their debt-free date. If we have a debt-free date that’s 8 years, maybe we look at a loan that’s amortized over 30, but it’s fixed for 10 if the rate is better.

Only if the rate is then better because then we can actually compound it slightly further. If there’s good equity in the home, maybe we get a line of credit. We’re not looking to tap it, use it, and spend, but what we’re doing is looking for key usages that the perfect financial GPS can do to help utilize simple interest to pay off amortized interest, rinse and repeat, and then doing that process again and again and saving another 1.5 to 2 years off your payment dates.

There are many different principles and ways to use money. There’s nothing that I’m asking you to learn and do, but understand that it can be done and you could follow that direction and it’s guaranteed. If you follow the direction of the opportunity, the results are guaranteed. I love to show you that opportunity in the presentation. Email me at Radio@United4Loans.com. If you’re a professional person in the areas of insurance, real estate, CPA, divorce attorneys, or mediators, we’re able to show you how, with your clients, you’re able to actually free up additional discretionary.

Create Additional Wealth Faster

Some of the things that I’ve been able to see recently is when you have divorce negotiations and someone wants to take this and they want that and they’re trying to give value to everything. If from your direction you could value the debt differently than the other side and you’re willing to take the debt, you may have gotten a better deal. If we can show you how that debt could be reduced then you could actually create additional wealth faster as a result.

Sometimes, the number isn’t the number that you may think it is. If you had that in your arsenal to your clients rather than your clients letting you know if they hear about this first, you have the ability to be that much more efficient in your negotiations or decisions. Whereas realtors, if you’re able to show investors that they can create more doors and more wealth as a result, why not? If you’re able to do that, I have one gentleman who now has over 100 doors of real estate and he owns over 80% of them now free and clear and he’s still accumulating. He’s been able to do that. This opportunity is efficiently running in the background and the decisions don’t have to be that hard to make because they’re perfect decisions.

Wherever you are in your journey, young family or getting started, I want to make sure your path is the most efficient possible. I’ve had now two 75-year-old women who were going to be debt-free by the time they were 100. We’ve been able to show them how to be debt-free in their 80s. Their mindset is, one, didn’t want to be a burden to her family. They didn’t want to leave all this stuff to them. The other is still looking at, “This is great. I’m able to do this and that. I’m ready to go this and travel.” She’s all happy and going. It’s just where you are on your life’s journey.

I have 30-year-olds, 40-year-olds, and 50-year-olds who are doing this in their various stages. Kids are looking for college and various other items creating retirement getting that journey through on the mortgage. Let’s get that credit score higher by increasing the efficiency of your debt. There is a difference in the cost per thousand when you’re financing on an amortized loan, whether you’re 3% all the way up to 8%. If we are 3%, it’s $4.22 per thousand. We did enjoy that when it was there. If it’s 6%, it’s like $6. For the 5%, if we go back there and we’re saving, it goes down to $5.37. I think efficiency is going to be somewhere about mid-fives. We’re going to be able to gain lower fives by the end of the year.

As that occurs, we’re going to see a higher demand. We’re going to see some people able to then make decisions to sell, which will create a little bit more inventory. The trend I have been seeing is we’ve been seeing a lot more sales with the home builders. The home builders were looking to build and do what they were doing. They had various issues with the supply chain and most of those items have now come good for them. Now they’re getting those items. Those homes are completing. There’s a development, I’m aware, here in Southern California. They’re releasing a whole community. These homes are going to be anywhere from $800,000 to $1 million and they have high demand.

They’re going to be looking to buy down and maybe a year of the rate and then whatever it is. As the homes are available, we’ll see where rates are and all that. These builders are ready now to go. Some of the housing starts and future projects may have been on hold a little, but those ones that got backed up are there, so 30% of the market is new home sales because there’s low inventory. Now that demand needs to be there to meet that requirement. Of course, in Southern California, we’re limited on how many more new home sales we have and how far out we’re going in order to move. Perhaps then, we’re looking at jobs, whether they’re at-home jobs or need to be going somewhere to have those jobs.

That’s all the decisions that need to be looked at when looking to finance. These questions are things that we ask when we walk you through United Mortgage Corporation of America. Whether it’s a first mortgage, a Home Equity Line Of Credit or HELOC, or HELOAN, we’re looking at efficient ways to help you save money and also have security behind you. If something did happen, you have some remedies. We also do reverse mortgages. We talked about that in previous programs. At 55 years of age, we’ll look at the equity position and what you can qualify for. We can run those numbers. Usually, it’s the date of birth, the property address, and how much is owed. I can then run those numbers and find out what’s possible and we can discuss it further.

We’re going to need some documentation on a traditional loan. We’re going to need the tax returns, bank statements, and pay stubs. If you have corporations, partnerships, or K1s, whether you have a disability, Social Security, or pension, identification, pay stubs, and bank statements. These items are appropriately needed. In some cases, we can try to go to minimal documentation, but minimal documentation means not the minimum rates. Rates move up with less information, so we have to look at what that level of balance is for you. If you’re not paying Uncle Sam and you’re saving a lot of money in taxes, you might be saving more there and paying a little bit more in rate, but it might balance out for you based on that risk. The goal is to save money on all sides. That’s what we try to do.

As we approach mid-June, we’re going to be looking at the next Fed meeting on June 14, 2023. Is this the time when they actually don’t make a move and stay steady and stay steady for a while? Is this the last move and it’s another quarter, and then possibly biting a little bit more pain with some of the institutional, employment, and everything else? As we hear and know that we’re here running to an end, the mortgage market is going, “Long-term rates are going to go down and that’s why mortgage rates get better.” What has caused some of that pain was the debt ceiling talk, this talk I hear about the Fed move, and the uncertainties surrounding it has caused a little bit of no movement either way too much or a little too fast.

I still say by the end of the 2023, we’ll see rates moving down a bit on the mortgage side, not necessarily on the Fed fund side, which affects your seconds, your car loans, and others. We’re seeing a lot of this money coming through the system. If you go out to dinner now with a family of four, you’re out the door at $100. It’s crazy when you look at these numbers. If you remember what it costs and now what it is costing, holy cow. Certain things have gotten better that were a little bit of a crisis, eggs at all. We’re taking a look at what we can do to navigate through this process without you becoming a hermit.

I want to make sure you are efficiently handling or receiving money and having that work effectively for you. Whether you’re buying your first home, repeat up or down, or you’re a renter looking to be in the best place possible to go with as little as money down as possible to change your disposition because you are making a mortgage payment. It’s not your own. It’s your landlord’s. If you have a loan that has higher rates, maybe your credit card rates are too high, it might make sense to do some consolidation. I don’t want to raise your mortgage rate, but sometimes raising that rate, depending on the debts you have is saving you money. We can go over that exercise as well because your creditors and your lenders love you and you don’t need that kind of love in your life.

I spend your money the way I spend mine sparingly. I want value for my money. I hope you do as well. Go to our website at YourRealEstateLife.com. That’s our show site. Also, go to our company site at United4Loans.com. We’re doing loans on construction. We’re doing loans on commercial, mixed-use. We’re doing bridge loans. We can do pretty much all that is required when it comes to money. We’re helping efficiency all the way around, whether you’re a seasoned buyer or a seasoned seller. If you’re a first-time getting started and you don’t know where to go, we want to help you understand and make the decisions that are best for you and your family. There’s no pressure. We’re not selling your information to anyone.

Let’s get that number on your phone, (888) 543-3980. If you want to get information regarding a perfect financial GPS, email Radio@United4Loans.com. I will send you out information that will allow you to watch, get a better understanding, and then let me know you’re ready to move forward. I want to make sure you’re there and understand what it is I am looking to achieve for you saving your money. That’s the bottom line.

Do you wonder why the banks are in the business of lending money? They’re not making anything by doing that? No, they are. I want to show you how you can churn the tables and you can become the bank. You have the ability to save yourself that money, keep that money with you, leverage that, and technically, in some cases, borrowing from yourself. It can be done. I want to eliminate your debt in record time.

I’m looking at calls that are coming in. it’s fantastic. I do appreciate that. My day is not complete unless I’m calling each and every person back who wasn’t answered by the team directly. We’re getting a lot of requests. People who are sending emails to Radio@United4Loans.com saying, “Send me the material.” I’m looking at one here. “Send me a debt material.” That’s fine. I do have that email address. If you want to throw that phone number to me and your name, I can address you properly. That’d be awesome. I can get you out that information, no strings attached. Let me know perhaps you got it or after you review it. This way, I can make sure where you are in that process.

I don’t want to nag at you and I don’t want to push at you. I just want to make sure you got the info because sometimes you’re waiting on it saying two days later, “He never sent it to me.” I can’t handle sometimes some of the technology that’s occurring behind the scenes. I want to make sure you do receive it. Even if you say, “I received it,” I’ll review it by such and such date. I’ll let you know. That’s great. I appreciate sometimes that communication. A lot of times, people assume things. Assuming you received it or assuming anything else, it’s not quite workable sometimes and it creates more problems. I don’t like having problems. I like solving problems, so I don’t want to create a problem for you. I want to be there as a solution for you.

I’m Mike Harris, President and CEO of United Mortgage Corporation of America. I appreciate you joining me here on News Talk 1590 KVTA. As always, we’re here each and every Saturday at 9:00 AM. Every other week on K-EARTH 101 at 7:00 AM on Sundays. We are here to discuss your real estate life. We want to put you on the best journey possible when it comes to saving money. Thank you again so much. Until next time, what kind of loan do you have?

Thank you again for joining us. It’s a Memorial Day weekend. I want you to have a safe Memorial Day weekend. To those in uniform serving and those who have served in the past, we honor you each and every single day. Thank you so much for your service. Enjoy the time with your family. Enjoy the memories. I want you to think about saving money and using that money for proper use, whether it’s for you or those you care about. I’m here to help you and this is how I can serve you keeping the money you work hard for. Thank you again for joining us. Until next time. What kind of loan do you have?

Important Links

• United Mortgage Corporation of America
• Radio@United4Loans.com
• Statement@United4Loans.com
• KVTA.com