Mortgage Mortgage

You have a tax refund, or you get a bonus or?...... and you have just enough to do something deadly. Monster computer, Plasma TV, Cosmetic surgery......you know something your spouse may object to?(well maybe not on the cosmetic surgery but they might hold it over your head when they want to buy their "toy"). Whats really the way to go with it?

Well if you called in on the radio finance talk shows, or the Suze Orman show they will tell you to pay off debt. Think about this: What if you saved it and used it to buy a house?

Lenders expect you to have debt and so long as its not outrageous then let this little boost in your income stream work for you. If you buy a home with it you can let your homes appreciation build wealth.

Lets break down your options :

Plan A- "do what you are told". This means go with what the masses tell you and pay off your debt. The positive? well you paid off that 21% debt and made yourself save $1100 in interest in a year from now . WOWEEE wasnt that fun.

But how about

Plan B- Take that $5000 and buy a house and  get a 100% financing plan (an 80/20 structure) buy a home within your means and have a roommate or two for the next year. Well you just instantly gave yourself a tax credit that in a year will earn you an extra $4800 on your next return. You also are paying yourself than a landord (and have roommates pay you as well). Another factor is that in a year your house or wealth would appreciate at least 10% in just one year!

So lets add it up: Plan A-saving of $100 that you wont realize for 12 months (remember although you paid it off this month the realized affect cant be actualized till 12 months from now) or Plan B- In just 3 months your house will accumulated enough wealth to pay yourself back enough to payoff that credit card*. In 12 months you will have an extra $4800 at tax refund time AND have acquired $30,000 in equity (based on a $300,000 median home price and 10% appreciation national average).

You dont need a finance guru to spell this out do you?

Now it takes a little work and professional guidance but contact us here and we can help you achieve this in a short time.

Here is a more detailed "how to" on this .