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What is a mortgage planner? October 8, 2007

Posted by shaferfinancial in Uncategorized.
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What do you mean you are a mortgage planner?  That is a common question I get when I tell people what I do for a living.  I love that question because it gives me a chance to talk about mortgages as a financial instrument instead of a scary large debt.  Mortgages are the largest financial instrument most people get involved with.  Yet, most people haven’t been taught how a mortgage can interface with their financial goals.  At best, most people know that they want to get rid of their mortgage as fast as possible.  While others treat it as the key to a savings account for personal consumption.

My financial background has allowed me to fully appreciate a mortgage for what it can do to help me create wealth.  That’s right your largest debt also creates your largest amount of wealth.  37% in fact for the typical American.  That is the amount of the median families total net worth that is inside their homes in the form of home equity.  More than triple what the typical family has in retirement accounts!!

So what’s the problem?  Well, what I and other “Mortgage Planners” do is to demonstrate to folks how to properly structure mortgage debt and home equity to maximize folks largest asset; their home.  You can’t get that knowledge from some telemarketer on the other side of a 1-800 line.

For example:

Did you know that your home equity is giving you a 0% rate of return? 

Did you know that the fastest way to have a paid off home is NOT by making extra payments to your mortgage?

Did you know that lenders will foreclose on homes with the largest amount of home equity first, over homes that have little home equity?

Do you know how to take advantage of current income tax law to significantly reduce your taxes?

Do your circumstances favor a variable rate loan or a fixed rate loan?

Do you know how to turbo charge your reitirement savings and reduce risk at the same time?

All these questions and more can be answered by a mortgage planner.




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