Category: Lending

Mortgage Rates: Time To Revisit

COVID has permeated our lives to such a degree that it is easy to miss significant opportunities that are right in front of you. Currently, one of the biggest opportunities is historically low mortgage interest rates. In March of this year, 30-year mortgage rates dropped to an all-time low of 3.25%. The 15-year fixed-rate was […]

Lending Standards Are Tightening

One bright spot for consumers in this uncertain economic environment is the recent drop in borrowing costs, particularly in home mortgages and home equity lines of credit (HELOCs). While the opportunity to borrow at lower rates is welcomed, it comes with the catch of higher borrowing standards! In fact, JPMorgan Chase, one the country’s largest […]

Low-Interest Loans To Family Members – What To Know

A byproduct of the COVID economic crash is extremely low interest rates…orchestrated by the Federal Reserve. One long-standing family wealth transfer strategy is making low-interest loans to family members. For loans between family members, you are required by law to charge a minimum interest rate based on the monthly published Applicable Federal Rates (AFR). These […]

Congress Provides Aid to Small Business Owners

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was passed by Congress and signed by President Trump on March 27 and is the most significant economic aid package of our lifetime…amounting to over $2 trillion. It provides a variety of financial relief to individuals, small business owners, and large corporations. $350 billion is […]

Why Not Loan Money to Family & Friends?

If you have money or people suspect you have money, you will eventually have someone ask you for a loan.  Most likely, that person will be someone you both know well and care about.  Emotionally you may have a strong desire to help, but should you?  After forty-something years of watching this scenario play out […]