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Author Archives: admin
Long Term Care Issues
One of the two most undersold financial products is long term care insurance. Yet it is a critical need, ranking just below disability insurance in the estimation of most financial planning agencies. Long Term Care is already a large part of our nation’s health care costs. In 2002, the last year I actively worked as …
Second Trust Deeds and Loan Subordination
When you have more than one loan on your property, there are some issues you should be aware of. Keep in mind the fact that some states still use the mortgage system, requiring court action to foreclose, as opposed to Deed of Trust, which does not. For practical purposes they are similar, yet I have …
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Negative Amortization Loans – More Unfortunate Details
My article on Option ARM and Pick a Pay – Negative Amortization Loans is one of my most popular. It’s number one for multiple search engines and several ways of running the search. If I don’t get at least 20 hits a day on it, it must be a sign that the public has caught …
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The Three Day Right of Recission
One reason to check your referral logs every day: Sometimes you can find great material for an article. I got one about the three day right of rescission. This is a feature (or bug, depending upon your situation) with every refinance on a home that is a primary residence. The reason it exists is that …
Is the United States Worth Defending?
The question of where anyone’s priorities are begs the question of “Where do your loyalties lie?” I am loyal first to the long term good of humanity. I want as many people as possible to live the best lives possible. I realize that this makes me sound like some sort of socialist or communist. Nothing …
Having your Credit Run
As of July 1, 2005, mortgage providers have to have explicit written authorization to run credit. I am not certain of the political forces that made this bill, and it is still not clear to me whether this extends to non-mortgage credit providers. If it does, this is probably one of the niftiest consumer protection …
Games Lenders Play (Part IV)
I was approached by these folks a few weeks ago via email. I attempted to get them to write up the experience themselves (and I would still like you to if you’re reading this), but I wanted to write something about this before I completely forgot about it. This whole exchange is indicative of games …
Debunking The Fallacy of Index Funds
It seems I can’t hardly turn around in the investment world without a paean to Jack Bogle, who preaches the advantage of the index fund. Mr. Bogle’s reasoning goes something like this: Looking at the world of mutual funds, relatively few funds beat the S&P 500 Index, so why not just buy the whole S&P …
Buying off a Prepayment Penalty
Been reading some of your informative tips. I am looking at refinancing and getting a $378000 mortgage. Now in the case of having a 3 yr prepay penalty, vs paying 1.5% in points to make it a 1 yr prepay, am i right in assuming it’s wiser for me to pay the points than accept …