Given the current economic turmoil and unemployment at 6.5% (most experts predicting 10%), this is the time to evaluate your personal finances, which includes the equity in your home. If you think your cash flow will take a hit and you will need money, then you must act now, before it’s too late.
Here is what the #2 financial advisor in America, Ric Edelman, is telling his clients:
“Get a big mortgage. Interest rates are declining – a happy side effect of economic weakness – so now is the time to convert home equity into a liquid resource. Having your home fully paid for doesn’t mean you’ll be able to pay for food, medical bills or utilities if you lose your job. A mortgage allows you to take the cash out of your home before you need it, so you’ll be better able to handle a crisis if it strikes.”
The predicament that currently exists for millions of Americans is when they need money suddenly due to a financial emergency, they can’t get it. The only way is to sell their home or refinance. But wait! Houses are much lower in price, there are relatively few buyers, and a mortgage would be impossible to get if they are unemployed. This poses a real challenge for those who need money now.
So during this economic upheaval, I feel it is imperative that I reach out to everyone to help them get through this economic chaos. I offer my financial knowledge and advice to everyone to help them take the right steps to insure a sound financial framework during these times. I have seen so many people doing the wrong things (they seem right emotionally but are financially devastating) and ultimately hurting themselves long term. That is why we need to be prepared now — not after something happens.
Contact me today do a free personal review of your financial situation and actions you should (or shouldn’t) take during these unprecedented times.
P.S. If you have not seen the Free DVD I offer; 10 Great Reasons to Carry a Big Mortgage, make sure you request your own free copy now. This is a highly educational DVD that is a must see during these economic times.
NMLS # 215698
Providing Personal Mortgage Advice Since 1990
Cherry Creek Mortgage Company
495 N. Riverside Dr., Suite 206
Gurnee, IL 60031
Phone: (847) 970-4239
Fax: (847) 557-2088
Ed Conarchy NMLS # 215698
Licensed in Wisconsin, Illinois, Indiana and Michigan
Cherry Creek Mortgage Co., Inc. NMLS # 3001
Illinois Residential Mortgage Licensee # 0005759