SAVING AROUND THE HOME It all makes cents!

How To Escape The Debt Rat-Race And Get Debt-Free Fast BY VAUGHAN HOLDINGS AND B&K PUBLISHING   Should Your Debt Be “Re-Engineered”?   Here are some simple questions to see how smart home mortgage refinancing and debt consolidation might help you. See how many you answer “yes” to.   1. Do you have more than three credit cards you use regularly?   2. Do you make minimum payments or pay less than the full balance on credit cards most months? Last month?   3. Are you saving and investing less than 15% of your income?   4. Would you like to get out of debt entirely, faster?   5. Would you like to lower your monthly payments?   6. Could you use extra money to pay back taxes or put a child through college or for some other important purpose?   7. Would you like to buy a new car or maybe even a new home within the next 6 to 24 months but aren’t sure you can get the refinancing or handle the higher monthly payments?   8. Would you like to retire 5 or 10 years ahead of schedule, able to live on interest from your investments?   9. Are there tax-deductible savings opportunities like pension plans, IRA, Keogh, Medical Savings Accounts, etc. That you are missing out on because you don’t have enough money after paying bills to do them?   10. Would you like to take a really good vacation or make some improvements to your home this year without going into debt to do it?   My friend, if you answered YES to even a few of these questions, then requesting this Report was a very smart thing to do. You can use a smart home mortgage refinancing to “re-engineer” your debt, interest and monthly payments to instantly improve your financial position AND get you on the straight and narrow path to freedom from debt, to true financial security.   Consider These Shocking facts - Important reasons To Do Something Different About Your Financial Future!   1. The average savings of a retired couple amounts to only $7,000. (Nobody thinks that’ll happen to them, but…)   2. On the average, today’s working Americans can expect to receive (from Social Security, Pensions, etc.) just 37% of the retirement income needed to live comfortably. (Source: “America’s Retirement Crisis: The Search For Solutions)   3. 85% of Americans have a true net worth (paid for assets less all debt and bills) of less than $250!!! (Source: Social Security Administration)   4. The average person works the first 130 days of each year just to pay taxes - and about another 180+ days just to pay interest on debts and bills. It’s October (no Later) before he actually keeps a dollar for himself and his family!   5. 92% of the average family’s income is spent paying on debts. (Source: Philadelphia Daily Newspaper) (If the average family cuts this from 92% just to 85%, they could amass over $500,000 during their working lives - EXTRA money!!) 6. Making just the minimum payments on just $4,000.00 if credit card debt will require almost 42 YEARS to pay it off!!!!! (And cost over $14,000!)   7. If the average person just cuts the costs of servicing their debt-load by half and invest the money saved at 8% or 10% annual interest, with some tax-free compounding, they’ll create over ONE MILLION DOLLARS CAST for retirement in 25 to 30 years!! (Become a Millionaire in your current career without working any more or taking risks, just by “re-engineering” your debt!) I hope you can clearly see why it is very, very, very important for you to:   1. Get the lowest possible cost home mortgage (even 1% in interest saved through refinancing could equate to tens of thousands of dollars!)   2. Break free from credit card debt slavery - now.   3. Get and use a sensible plan to pay debt and get debt free faster.   4. Replace a hodge-podge of high interest bills with a single, lower interest monthly payment.   5. Replace non-tax deductible interest with tax-deductible interest.   Now, Here Are Borrowing Facts Your Current Creditors And Most Bankers Hope You Never Find Out   1. HOW MUCH EQUITY YOU REALLY HAVE IN YOUR HOME This is a closely guarded banker’s secret. The truth is, you probably have more equity (value) in your home than you think. And different companies use different methods to determine how much you can borrow on your home. These days, there are even plans that allow, “borrowing power” you have locked up in your home. If you want to find out the general value of your home, call the tax assessor in your area. Take the assessed value and subtract the remaining balance that you owe on your home and that should give you an estimation of how much equity you have in your home.   2. SECOND MORTGAGES ARE A BAD IDEA Sometimes a second mortgage is a bad idea but sometimes it’s a good idea - it just depends on your particular situation. Contact your broker so that he/she can find the best way for you to use your home’s value as the “crowbar” to pry open the financial prison doors and get you to the best possible financial place you can be.   3. REFINANCING IS TOO EXPENSIVE Refinancing usually has costs, but is NEVER “expensive” when is saves you money. When refinancing slashes your interest rate and/or pays off other high interest bill and/or lowers your total monthly bills, it is NOT “expensive”.   4. CREDIT PROBLEMS STAND IN MY WAY Many people think bad credit stays on their record for 7 years. While that is technically true, there are good loan programs where only your most recent 12 months of credit behavior is considered. There are good plans even for people with past or even recent bankruptcies. There are “no income qualification” plans. Basically, if you are an employed or self-employed homeowner, there is a smart home mortgage-refinancing plan you can qualify for, that is in your best interest that will save you money, regardless of past or present credit problems. Of course, if you have good credit, so much better. But you do not need to be trapped because of credit problems either.   5. YOU PAY MORE IF YOU FINANCE SOMEWHERE OTHER THAN A BANK OR A BIG NAME MORTGAGE COMPANY That “lie” could steal $10,000 to $50,000 from you! No one bank or company has an “exclusive” on the best rates or terms.   6. GREAT DEALS ARE ADVERTISED EVERYWHERE Well, that’s true - but it’s a minefield out there. Some companies use all kinds of “bait-n-switch” tactics that are very unfair. For example, they may advertise a very low rate, but that loan is so hard to qualify for, 90% of all applicants are turned down - then, after you’ve been rejected, they’ll offer you a different, higher rate loan that’s not in your best interest, but since you’ve already gone through all the work with them, you take it. Also, a lot of the heavily advertised loans aren’t nearly so attractive after you wade through all the “sneaky” fine print. There’s a better way. It is called the “doctor model” - diagnosis, then prescription. That means first carefully “diagnose”; find out about you, your present financial situation, your goals…then comes the “prescription”; present the very best mortgage plan for you, that gives you the best benefits.   7. “I DON’T WANT TO PUT MY HOUSE AT RISK TO PAY BILLS” That’s smart. But you have to look at your overall risk. The bigger your total monthly payments are, the more at risk you are of losing everything if you lose your job, get sick and can’t work or something else happens to interrupt your income. Also, just about any unpaid creditor can quickly and easily get a lien on your home, not just a mortgage holder. What you want to do is minimize your risk by minimizing debt and monthly payments, getting out of debt faster, and having extra cash to build up emergency reserves, savings and investments. Finally, refinancing does NOT increase your risk anyway. next page > _______________________________________

• print this page