Since I am in the “mortgage business“, I often find myself in discussions regarding money. Credit scores, interest rates, payment plans, investments … the list goes on. There are so many variables, so many issues, so many person-specific “things” that we all need professionals to guide us when making high-dollar decisions. I am grateful for the opportunity to serve as one of those advisors.
But not all money topics are complicated. I’d like to introduce you to a very simple book, titled Three Cups. This book was developed by Tony Townsley, a gentleman from our Parish at Saint Maria Goretti. He presents the importance of having 3 cups and using each of those cups for saving, spending and giving.
My son, who is in 4th grade, and I are using Three Cups which was given to him at school at the beginning of Lent. The book has provided a great way for us to go through Lent and to talk about the importance of sharing our gifts with others, saving for our future and spending wisely on our needs today. It has also given my son and me a focal point for discussions about the money he receives on birthdays, for chores and so on. I would recommend this book as a great tool that can help all of us live and teach our faith … with our wallets.
Visit the website to learn more about Three Cups and to read others’ stories how they’ve used the book as a roadmap for teaching financial responsibility.
Further declines in home prices expected
With housing prices and interest rates down, many people are wondering if now is a good time to be a first-time home buyer or upgrade to a “better” home. The tax advantages are certainly one reason to consider purchasing now.
Looking at the housing market, First American CoreLogic and its LoanPerformance Home Price Index states that further declines in home prices, driven by distressed sales, are expected in the early months of 2010. This will be followed by a recovery this spring, but that is now projected to be much smaller and to occur later than previous forecasts stated.
If your’re thinking of upgrading, be sure to factor in the fact that your house, along with most others, has also declined in value. Though you might get a “great deal” on the one you want to purchase, the person buying yours is probably also getting a “great deal” as well.
Besides the cost of the house, the mortgage interest rate is another factor to consider. According to a recent Freddie Mac Primary Mortgage Market Survey, the rates are currently around 5%. These rates are quite inviting. Just to provide a comparison, during the inflationary times in the 70’s, mortgage rates were in the low teens. It wasn’t unusual for people to pay 13%!
This could be the right time for your to make your move. Consider all the issues – tax incentives, interest rate and the declining values in the housing market. Talk to a trusted mortgage professional; they will help you sort through all the issues and guide you on this major financial decision.
Mortgages and helping others – it all ties together
We’ve all heard the saying, people buy from people. This is true, whether it’s a product, service or a mortgage. We want to know the person we’re dealing with. This develops a trust level that a company logo can’t begin to create.
Therefore, along with mortgage knowledge, I will also share some of my personal life – topics that will help you get to know me. Yes, partly because (hopefully) you’ll know me well enough to trust me with your next mortgage, and then I can get to know you as well. But also because my other life, outside of the business world, might also serve you through areas of interest or of assistance for you or someone you know.
In December I introduced you to Anna’s House. A Community Service Center in Indianapolis, Anna’s House was created to serve people in need. Lucious Newsom and Anna Molloy worked together for years to inspire people to care for the hungry and the needy. In this 2005 photo, Lucious, right, and Anna, second from right, pose during the groundbreaking ceremony for Anna’s House. Charlie Caito, left, and Leo Stenz, two loyal supporters of Anna’s House, participated in the groundbreaking ceremony. (Photo Source: The Criterion Online Edition)
One of the reasons I feel called to Anna’s House is that our daughter has skeletal dysplasia, as Anna did. A different type of dysplasia that Anna had but in the same family of dwarfism. We have created a CaringBridge website and wanted to share this great organization. CaringBridge is a free, nonprofit web service that connects family and friends to share information, love and support during a serious health event, care and recovery. This site has been very helpful for us, as we keep friends and family up to date; their comments in the journal are a great source of comfort for us.
