I am hoping that you care what is going to happen in the near future if you own a house, or are thinking about buying one. What happens to the stock market and the Fed’s monetary policy will have direct consequence for you. So it is up to you to try and figure out what might happen.
The stock market is at all time highs without any realistic reason except that the Federal Reserve has interest rates at just about zero, so the big traders, funds and banks can
afford to stay in the stock market with the money they borrow. Why is that? Because there is almost no cost for carrying the securities they hold. The election that takes place in just about a month should change what is going on
The taxes we pay now are all subject to change. Both sides of the political aisle have big plans that will have significance in different ways for all of us.
You need to take an educated guess as to what might go on once we know who is going to
be the President and start setting your finances on course that will help them grow if you are in tune with the new financial developments It isn’t guess work but you can research your ideas to try to fit your goals and ideas of the new President.
It will be time in about a month to take the reins and steer your finances as best as you can. to get the best you can from the incoming new administration. Your financial future is at stake so do what you have to, and hopefully you will prosper.
Remember that your luck may be just good enough to improve your future wealth. Luck however, is not a strategy. Don’t count on it.
When you take out a mortgage you can deduct the mortgage interest up to a loan of $1,100,000
loan balance. That certainly saves you a good amount of income tax. Now suppose you have a $500,000 loan on your primary residence and you also have a balance of $48,000 on your credit card(s). If you were to refinance your primary residence which has a $500,000 current loan you can pull out $75,000 to pay off the credit cards and have some reserves. You now can deduct the credit cards as well
That maneuver is allowed if the loan to value on your new loan fits the loan limits. You cannot pull out over $100,000 above your current loan balance and you will not have a loan any larger than
The ability to deduct your payment from your tax liability will start paying dividends immediately.-You need to find all the gifts the lenders and the IRS are willing to give you.
Let us show you what we know.
If you are at least 62 years of age and own a house with or without a current mortgage on it you might be able to procure a “reverse mortgage”. It will depend on your age and your equity to determine you have enough equity to pay off your current mortgage, if you have one. If you don’t have a mortgage you will receive cash from your property. If you have a mortgage you will have it paid off and can still get cash from the property
In either case you will not ever make a mortgage payment while you are in your house. The interest on the new reverse mortgage while accrue until you leave your property and you or your heirs will owe the balance. If the value of the house is higher than the mortgage you or your heirs can sell the house, or pay off the reverse mortgage and keep the house. If you or
they do not want to have the house you send the keys back to the reverse mortgage lender
and relinquish the house to that lender. No money will be required.
Not having payments is the reason to take the property and even if the property starts falling in value you will still get your monthly payment without any liability to you or your heirs EVER!
-Your heirs will be concerned so I will show you what they get. When you get the reverse mortgage you do not give up your ownership rights including the increase in value of the property until you leave the house. This is akin to have a option for the heirs, without paying for one. If the house goes up the heirs will most likely move into it or sell it sand keep the profit. They aren’t paying anything along the way to have this option.
If the house goes down they can refuse to buy it and it goes to the lender. They don’t lose
anything because they aren’t paying for this option either. These options aren’t the only benefit for the heirs. I will follow up shortly with more goodies!
It is time to find out about this terrific mortgage. Making mortgage payments aren’t required
and either is your worrying!