Saturday, October 23, 2010

When is It Right to Refi?

There are many reasons to refinance a mortgage. Perhaps the homeowner wants to restructure their mortgage to take advantage of a lower interest rate, or change the length of their mortgage to meet their financial goals. Many borrowers need to switch from an adjustable rate mortgage (ARM) to a fixed rate, while others use some of their equity to pay for the kids’ college or for remodeling expenses.

Refinancing is right for some but not for everyone, so the next time you’re in a conversation with a friend, family member or neighbor and they mention that they’re thinking about refinancing their mortgage, feel comfortable enough to take out your cell phone, look up my number (609-868-2114) and call me immediately. We can set up a free consultation where I’ll review their current mortgage and make recommendations for their next best step.

 Be sure to call me when someone you know says they’re thinking of refinancing, so I can help them make an informed decision.

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Tuesday, October 5, 2010

A Fair Exchange?

Ever heard the story about the shoemaker and the restaurant manager? It’s funny, and has some wisdom in it as well. It goes like this…
There was once a poor shoemaker whose shop was next to a fine restaurant. Every day the shoemaker would take his simple lunch out to the back of his shop, where he took great pleasure in the mouth-watering aromas floating out of the restaurant kitchen next door.

One day the shoemaker received an invoice from the restaurant for his lunches, and he went to speak to the manager about it. The manager said, “You are enjoying my food while you eat, so you should pay for it!”

The shoemaker refused to pay and the restaurant sued him. The judge asked the restaurant manager for his side of the story at the hearing.

The manager said, “Every day, this shoemaker sits near our kitchen and smells our food while he eats his lunch. We are adding value to his meal, and we should be paid for it.”

The judge then asked the shoemaker for his side of the story.

The shoemaker said nothing, but stuck his hand in his pocket and rattled around the change he had inside.

“What is the meaning of that?” asked the judge.

The shoemaker answered, “I’m paying for the smell of his food with the sound of my money.”

Seems like a fair exchange to me!

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