Podcast: Download (23.0MB)
This week Doug Andrew discussed the following:
Upcoming Complimentary Webinar
Attend our free webinar live over the Internet this coming Tuesday, December 1st at 11:00 a.m. pacific (12:00 mountain, 1:00 central, 2:00 eastern), and again at 6:30 p.m. pacific (7:30 mountain, 8:30 central, 9:30 eastern).
The topic of this webinar is successful home equity management. Doug will show you the best way to get out of debt, pay off your mortage, and make an extra $2.3 million on a $150,000 house in a 30-year period.
Register now by calling 888-76-Radio (888-767-2346).
Just for registering you’ll receive a bonus e-book and audio book on the IRA/401(k) dilemma.
Furthermore, all attendees will receive a bonus hardcover copy of Last Chance Millionaire, Doug Andrew’s New York Times best-selling book.
Just How Safe is Your Fixed Mortgage?
The AARP recently published a story by Carole Fleck entitled “Foreclosure: I Didn’t Think it Could Happen to Me.”
The story reports on the growing foreclosure crisis. It reveals that the crisis is no longer limited to high-risk borrowers; it is now spreading to “middle-income Americans who had fixed-rate loans, among the safest on the market.”
Ms. Fleck reports:
“Widespread job losses and falling household income have changed the nature of the foreclosure explosion. The crisis began nearly two years ago with subprime mortgages offered to borrowers who were poor credit risks, but has now spread to prime fixed-rate loans…one in three mortgages in foreclosure in this year’s second quarter had a fixed rate. During the same period last year, it was one in five.
“In many cases, those homeowners in foreclosure are people who thought it could never happen to them. ‘These are not people living on the edge,’ says Michael Fratantoni, vice president of the MBA’s single-family research division. ‘These are your more conservative homeowners who’ve lost their ability to pay their loans because they’ve lost their jobs.’”
The story continues by sharing just how widespread this problem is and why it will continue through 2010.
Why Missed Fortune Clients Don’t Fear Foreclosure
Everyone who has followed the Missed Fortune strategies for the last 5-10 years hasn’t lost a dime in home equity — even if their home value has gone down. They have liquid cash and are protected from the risk of foreclosure.
This is because they understand how vital it is to secure the following benefits in all financial and investment strategies:
We call this the “LSR” test, and the innovative and secure Missed Fortune strategies help you achieve all three of these with your mortgage.
Riddle: What is this Investment, and Would You Invest in It?
Consider the following investment and ask yourself how much you would invest in it:
- You determine the amount and length of time for monthly investments to continue.
- You can pay more, but not less than the minimum monthly payment.
- If you attempt to pay less, the financial institution keeps all the previous contributions.
- The money deposited is not safe from loss of principal.
- Each contribution results in less safety.
- Your money is not liquid; you can’t get to it when you really need to.
- The investment carries a zero percent rate of return.
- Your income tax liability increases with every contribution.
- When the plan is fully funded no income is paid out to you.
Can you guess what this investment is? It’s your mortgage. Home equity fails all three of the LSR tests — it’s not liquid, it doesn’t guarantee safety of principal, and homeowners rarely realize a rate of return.
Ready to learn how Missed Fortune can change this for your mortgage? Get started now.
Bonus Missed Fortune E-Book: Baby Boomer Blunders
The average Baby Boomer has less than $50,000 accumulated for retirement (which means many have less than that), primarily due to bad habits and having money invested in the wrong places where economic downturns can diminish their nest egg.
Download this e-book now at www.babyboomerblunders.com.
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