Monday, January 31, 2011
Friday, January 28, 2011
The Need for a True Professional
There are two sides to the balance sheet as we all know. Debts and credits right? Or to put it in other terms, equity/assets and debt. Most people completely understand the importance of having a financial planner, it only makes sense right? Someone that can handle the direction, risk, and the growth vs safety of the money they make. Those choices that most consumers just don't have the time on a daily basis to properly educate themselves through the exhaustive research that is required to make those decisions prudently. (Not to mention doing that research with the extensive background, training, and education that a financial planner has.) So most people totally get the importance of a professional when it comes to asset management.
Go back to that first sentence....."there are two sides to the balance sheet...." We all agree with that right? Well if we agree that one side certainly warrants a professional to assist the consumer with managing their assets, does it not also make senses to have a specialist and a professional to manage the debt? I am debt manager, that's what I do. When appropriate, that may result in writing a mortgage for a borrower but more often than not my role is to provide good, solid counseling. What's the best credit card on the market? What's the difference in financing and leasing an automobile? Where is the hidden cost of 0% auto loans? What is a 1031 exchange? Is now a good time to pay off a mortgage or to go heavier on mortgage in favor of being more liquid? Can we afford to sell our home and buy more square footage now that we are expecting another child? How am I going to pay for my kids college education? I'm nearing retirement and don't know how I'm going to maintain my current standard of living? Scenario after scenario can show that debt management is often just as if not more complicated as asset management and luckily for my borrowers, I am a Certified Mortgage Planning Specialist, something that less than 2% of all loan originators nationally can claim. Ask a bank loan officer the next time you are in your bank if they are certified....I know what the answer will be.
The summary is easy to understand and it's what I have based my business on conceptually. People make debt decisions by the dozens with no guidance whatsoever from a professional and here we are with the economy in the shape it's in as a result. We over leveraged ourselves, we bought and bought and bought through cheap and easy financing options under false assumptions. Well, the music stopped and a lot of people where left without a seat. A debt management professional like myself is 33% of the story in a wealthy persons life, 50% of the story in the average family's life, and 100% of the story in a young persons life. It only makes sense if you think about it in those terms.
So who is your Debt Manager?
Go back to that first sentence....."there are two sides to the balance sheet...." We all agree with that right? Well if we agree that one side certainly warrants a professional to assist the consumer with managing their assets, does it not also make senses to have a specialist and a professional to manage the debt? I am debt manager, that's what I do. When appropriate, that may result in writing a mortgage for a borrower but more often than not my role is to provide good, solid counseling. What's the best credit card on the market? What's the difference in financing and leasing an automobile? Where is the hidden cost of 0% auto loans? What is a 1031 exchange? Is now a good time to pay off a mortgage or to go heavier on mortgage in favor of being more liquid? Can we afford to sell our home and buy more square footage now that we are expecting another child? How am I going to pay for my kids college education? I'm nearing retirement and don't know how I'm going to maintain my current standard of living? Scenario after scenario can show that debt management is often just as if not more complicated as asset management and luckily for my borrowers, I am a Certified Mortgage Planning Specialist, something that less than 2% of all loan originators nationally can claim. Ask a bank loan officer the next time you are in your bank if they are certified....I know what the answer will be.
The summary is easy to understand and it's what I have based my business on conceptually. People make debt decisions by the dozens with no guidance whatsoever from a professional and here we are with the economy in the shape it's in as a result. We over leveraged ourselves, we bought and bought and bought through cheap and easy financing options under false assumptions. Well, the music stopped and a lot of people where left without a seat. A debt management professional like myself is 33% of the story in a wealthy persons life, 50% of the story in the average family's life, and 100% of the story in a young persons life. It only makes sense if you think about it in those terms.
So who is your Debt Manager?
Thursday, January 27, 2011
A look at Friday
Closing at 8:30 am tomorrow morning, last appointment at 5:30pm tomorrow afternoon.....jammed up in between. What a finish to the week/month!
Welcome!
As part of my renewed effort to educate and assist my borrowers and referral partners alike, I am going to do my very best to provide as much relevant and important information here as I can.
I hope you enjoy!
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