The Federal Reserve will begin lowering the Funds Rate this month

The following is from one of our favorite buyer and homeowner lender:

Jason Gordon

NMLS ID# 259027 | Branch NMLS# 920781
Loan Officer | CMG Home Loans

I am reaching out today with a couple of quick timely, relevant & important updates.

First things first…for the first time in over 50 months, The Fed will begin lowering the Federal Funds Rate this month!  We believe that many mortgage rate decreases will follow, which will help you (as well as many of your friends, family, co-workers and/or clients) to modify your (their) debt structure and save money.

Prepare to be bombarded with mortgage advertisements! Many Mortgage Call Centers have already been beefing up their staffs with low-end (or often untrained) Mortgage Lead Converters. You can expect these Mortgage Call Centers to heavily advertise low rates and payments (forcing you to finance significant amounts of costs into your new loan). While low rates are attractive, paying too much in closing costs is not necessarily recommended. Rarely do these companies have competitive interest rates & fee structures, despite their claims.

For reference, I instead focus on each scenario with a case-by-case analysis to include future rate projections, how long you will “hold” this particular loan, as well as any other specific goals you are seeking to accomplish in order to determine your best options (i.e. debt consolidation, cash-out needs, reducing your payoff term, etc.). In summary, I take a holistic view of your financial picture before I make specific recommendations accordingly.

Lastly, there are 2 recommendations to keep yourself “safe from Identity Thieves” and “off the radar of relentless Mortgage Call Center salespeople.”

1. Due to many recent security breaches, we are all at high risk of identity theft. A simple solution is to request a CREDIT FREEZE with each of the 3 Credit Bureaus (Experian, Equifax & Transunion). By doing so, anyone trying to open fraudulent credit accounts in your name will be turned down (due to the inability of the new Creditor to pull your credit report). To initiate or revise a CREDIT FREEZE, please visit each of the following links:
   • • Experian: https://www.experian.com/freeze/center.html
     • Equifax: https://www.equifax.com/personal/credit-report-services/credit-freeze/
     • TransUnion: https://www.transunion.com/credit-freeze
2. Artificial Intelligence computer programs have prompted many “ethically challenged” mortgage professionals to buy TRIGGER LEADS (which inform these salespeople whenever a mortgage company pulls your credit). We’ve had clients get over 100 calls/texts within 24 hours of getting their credit pulled. Suffice to say, it’s ridiculous, but there is an easy & free solution.
   • • Simply visit  https://www.countyproperties.us/mortgage-information and follow the instructions (especially if you think you might be interested in pursuing a new mortgage loan when mortgage rates drop). It takes roughly 10 days to implement once you have made the request…so why not do it now just in case you find yourself in the market for a new mortgage?

As always, I am happy to elaborate whenever desired.  Please never hesitate to contact me…and please don’t keep me a secret!  I am always available to assist you in the most ethical, caring, and competent way possible.

Jason Gordon
NMLS ID# 259027 | Branch NMLS# 920781
Loan Officer | CMG Home Loans

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Arnie Levine Broker CountyProperties.us