Florida Mortgage | Financial Advice ~ Own your home outright - Good or Bad Advice??

Diversify Diversify Diversify... that's the mantra of today's Financial Planner.  Many people disagree with that quote - big notable investors like Trump, Buffett etc...

But that's what we're taught... diversification reduces risk and increases return over the long term.

But ... when we're talking about our Primary Residences and diversification, are traditional Financial Advisors barking up the wrong tree??

Most traditional Financial Advisors are eager to get you on the path to owning your house outright.  They have all sorts of ways to teach you how to scrimp and save so that when you are in your 50's and 60's you have paid off your house.

But... what exactly is the advantage of paying off your house?

If their mantra is "Diversify Diversify Diversify" yet in another breath they say, "No Mortgage, No Mortgage, No Mortgage" then aren't they contradicting themselves??

Let me tell you why they are!

Because they are essentially telling you that you need to take a large portion of your potential retirement funds... your nest egg... and sink those funds into an illiquid asset.

These are funds that should be there for you in retirement...but instead this large sum of money is funneled into your house where you cannot use it.

Think of it...sometime in the future when you need money for something big - like an emergency or to finally replace that old car that just passed away right before you could pass it on to your grandson... and you have worked a long time to make that money.  Then you have to call someone like me and I have to tell you how much it will COST YOU to access your money!

To read the entire article, follow this link -o--> Florida Mortgage | Real Estate, Investment and your Primary Residence

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More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
TheMortgageGoToGuy.com
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

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Florida Affordable Housing | great choice for your College Student instead of the dorm or apartment

Trying to figure out where your college student will live while he/she   is at school? 

• Dorm is reserved for freshman? 
• Frat house is only for parties?
• Off campus apartments are in terrible condition and expensive?

Consider buying an affordable housing condominium for your student instead!

Using FHA loans, you can qualify as a non-occupant co-borrower and have your child on the loan to purchase a great condominium or townhouse near campus.

Why would you consider it?

First of all, Credit.  This is a great credit builder.

Secondly, most students prefer living with a roommate, who pay rent to your child which can go to paying the mortgage.

Third, responsibility... owning as opposed to renting means your students have to learn to take care of the place.

Fourth, the tax benefits of having more mortgage interest deductions (consult your CPA)

Fifth, there's a better market to resell an affordable house/condo than a run down duplex near campus.  Believe it or not!

For more information, visit the full article at -o-> Florida Affordable Housing | College Students’ perfect place to live

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More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
TheMortgageGoToGuy.com
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Florida Real Estate Development | Martin County Florida

The Palm Beach Post had an article ( link )this week regarding developers in Stuart Florida - the county seat of Martin County Florida.  The city officials are bracing for an influx of developers looking for extensions on their development timelines.

Due to the market conditions they have been unable to continue their efforts to develop land that they purchased 2-3 years ago.  Planned Unit Developments that are reaching the end of their original approved building timeline are now in jeopardy of ever being built due to the lack of financing available for new construction… and not just in Florida!

The biggest blow to development in this Florida market  is that lenders are just not funding projects right now without major pre-construction sales numbers.

With the market prices dropping - especially on condominiums in major (overbuilt) markets, many buyers have walked away entirely from large cash deposits leaving developers, lenders and investors stranded.

To get the good news (not mentioned in the article!) that will help the market recover, follow this link -o-> Florida Real Estate Development | Stuart and Martin County Florida

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More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
TheMortgageGoToGuy.com
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Celebration Florida Affordable Housing | great choice for your College Student instead of the dorm or apartment

Trying to figure out where your college student will live while he/she   is at school? 

• Dorm is reserved for freshman? 
• Frat house is only for parties?
• Off campus apartments are in terrible condition and expensive?

Consider buying an affordable housing condominium for your student instead!

Using FHA loans, you can qualify as a non-occupant co-borrower and have your child on the loan to purchase a great condominium or townhouse near campus.

Why would you consider it?

First of all, Credit.  This is a great credit builder.

Secondly, most students prefer living with a roommate, who pay rent to your child which can go to paying the mortgage.

Third, responsibility... owning as opposed to renting means your students have to learn to take care of the place.

Fourth, the tax benefits of having more mortgage interest deductions (consult your CPA)

Fifth, there's a better market to resell an affordable house/condo than a run down duplex near campus.  Believe it or not!

For more information, visit the full article at -o-> Florida Affordable Housing | College Students’ perfect place to live

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More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
TheMortgageGoToGuy.com
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida

Florida Mortgage | Subprime Bailout ~ Preliminary views of the plan

I had to at least make a mention of the new plan to bail out the Subprime Mess and I was in a Clint Eastwood Western sort of mentality. So, I will relate my feelings to the Good the Bad and The Ugly.

I think that in all, it will help some people... but I just don't believe the way that things are being carried out are in the best interest of the masses for more than one reason.

The Good - There are a lot of loans that are about to jump, some even double.  This Congressional Bailout of these borrowers will help those people who are about to get a shock... a BIG shock.

The Bad - OK... so these borrowers have some relief. 

Now the big test is will they learn their lesson from the scare and start a financial plan to get themselves on track for the big three issues for a loan application so that they can refinance in the future.

They need to work on:

• Credit
  
• Income  
• Assets
  
• Also - Equity

The Ugly - now this is where I'm going to be bordering on ranting.

Congressman Barney Frank - are you reading this??

This plan is by far one of the most dangerous pieces of legislation in US History.  This was bred from ignorance and arrogance. 

I do not care how bad this problem is or will become...

The Mortgage Industry is built upon the freely moving, market driven Mortgage Backed Securities Market.  Rates, programs, etc are all based on this FREE market that is without government interference! 

The US Government has NO business regulating this market and industry in anyway.

YES! The Homeowners are hurting... but they have been in this position for at least a year and have heard enough news that this storm was coming.  Ohh... now I'm unpopular...

But... there are investors around the world who bought into these investments.  They made the decision to back risky mortgages and who's right is it to tell them that they do not deserve the returns that they signed up for??

No ones!  Especially not the Federal Government of the United States.

For the FULL ARTICLE follow this link to -o-> Florida Mortgage | Subprime Bailout ~ Preliminary views of the plan

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More Florida Mortgage and Real Estate News You Can Use From
David A. Podgursky, MBA
TheMortgageGoToGuy.com
Your Source for Residential, Commercial, Investment and Relocation Mortgages in Florida