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 […]
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 […]
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 […]
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 […]
As fears of a recession grow due primarily to trade-war concerns, home mortgage rates have followed the 10-year treasury rates down…to their lowest levels in three years. Here’s a quick review of current rates (source: Freddie Mac 9/5/19): 30-year conventional mortgage: 3.49% 15-year conventional mortgage: 3.00% What’s even more surprising is that non-conventional ‘jumbo’ mortgage […]
At its foundation, my job as a wealth manager is to help clients effectively allocate their hard-earned capital. While there are many important decisions along those lines, the decision to remodel an existing home, or move to a new home, is one of the biggest as it can prove costly if not well thought-out. When […]