H.I.M, good to know that you love solving problems. I think we'll be friends soon. I too like to help people in problems and do some kind of analysis, at my own level though. That's the reason I joined this community and I find so many people here willing to help others. _________________ Procrastination is the enemy of your financial sucess
Well, I just got word back from CMG that they can't refinance condos in Alabama right now with the mortgage crisis...but I understand the concept of how the loan works and I'm going to ask some local banks if they can set me up on something like this on one of their portfolio loans. Maybe they will even vary it up a bit with a straight amortization of decreasing the line of credit 1/360 or even refinance my rental homes on a 1/240 amort schedule. What i said probably does not make sense on here, but it does in my head.
Posted: Mon May 05, 2008 12:36 am Post subject: How about this?
Why not come up with an elimination plan to pay off your mortgage to zero. If people had extra money, why wouldn't they use it to pay off their debts? People need the safety net of having money in the bank or money market accounts to earn a "good interest".
I can safely say that paying off your debts is the best return on investment you can have. If you think I am wrong, I personally challenge you to show me differently.
The concepts of the Money Merge System is to use the banks money to pay the bank back. I teach this to people every time I get. _________________ DJ Jennings
Alaska Debt Elimination Services
When people cannot afford their monthly payments and wants to refinance so that they can lower their monthly payments and you are asking them to make extra payment. Does it make any sense???
In my personal experience with past clients, most are living outside their means. Its great to refinance if you can qualify for it, or possible refinance for a higher interest rate or longer term to lower your payments, but without a solid foundation on how money works and how to use it properly, once that client refinanced, they have a high possibility to find themselves in a very similar situation in the near future.
Good luck with what ever you do, but once you are on track, why not have a plan to finish strong? _________________ DJ Jennings
Alaska Debt Elimination Services
adonis
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