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 Give your mortgage an annual once over. If the last time you looked at your mortgage was when you closed on your loan, it’s time to take it out for an annual once over. Life changes, the economy changes, and opportunities change.
Too often, people choose a mortgage based on an incomplete picture. It may have been a low interest rate quote, or an offer from the lender to pay the closing costs, or the builder offered to pay your closing costs and directed you to the loan they wanted you to have. If you didn't develop a plan to integrate the mortgage program you selected and create a strategy that wove your mortgage into your overall long and short term financial goals, you may be costing yourself thousands of dollars every year. Through the In Depth Mortgage Checkup process, we update all the factors that influence the proper mortgage strategy and discover ways to increase financial safety, create options and choices, maximize tax savings, and assist in achieving goals sooner.
Our Unique Annual Equity Review Process is recommended for past clients on their mortgage anniversary and anytime for other homeowners who aren't sure they selected the optimum financing strategy. The process takes about 20 minutes to gather the needed information, and the review can be done in person or over the phone using a secure web conference. To find out more, send an email to me at or complete the form under the Loan Application tab at the top of this page. Your mortgage and your financial future is too important to not take advantage of this free review.
Our RateWatch Service is a mortgage management process that involves a quarterly mailing to all of our clients. The RateWatch Service will alert you when mortgage rates have improved to the point that refinancing should be considered. The RateWatch service is easy to get started - I simply need your name, address, original & current mortgage balance, current interest rate, arm/fixed, and the approximate date you closed on your current mortgage. If you'd like to participate in this free service, just give us a call.
Are you paying for Private Mortgage Insurance (PMI)?
There are a lot of new loan programs available that can help you eliminate PMI, even if you have less than 20% equity in your home. The monthly savings adds up quickly. This money can be put to better use to help you achieve other short-term and long-term financial goals.
 Do you have a Home Equity Line of Credit (HELOC) for emergencies?
Many homeowners feel safe because they have a Home Equity Line of Credit (HELOC) for emergencies. A HELOC is a revolving line of credit that only charges interest when you actually draw money from the line of credit. As you repay the balance of the draw, the credit becomes available again. Securing a HELOC in advance can be a great help if you’re ever laid off or have an unexpected medical or other emergency. However, since the start of 2008, over 1 Million homeowners have found that their lender abruptly closed their HELOC with no up front notice. If you are relying on the future of your HELOC to provide your emergency funds or for a pre-planned expense, such as college tuition or a business startup, you may find that the bank has already lcosed your Equity Line before you could use it.
How’s your credit report?
The information in your credit report has a huge impact on whether or not you will again qualify for a mortgage loan. That’s why it’s important to periodically check your credit report. During our initial consultation or during the Annual Equity Review, we will provide you with a free copy of your credit report and show you ways to improve your credit score.
In addition, a recent amendment to the federal Fair Credit Reporting Act (FCRA) mandates that each credit reporting company provide you with a free copy of your credit report, at your request, once a year. To request your free credit report, visit http://www.annualcreditreport.com.
You spend too much money on your home and your mortgage. Take a proactive management step and let us perform an in depth mortgage checkup for you. Maxiimize your opportunites and increase your financial safety today.
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