The Lending Coach

Coaching and teaching - many through the mortgage process and others on the field

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Refinancing – are you one of 7+ million?

calculator-pen-spreadsheetMortgage rates are near historic lows, which has put millions of U.S. homeowners in the money to look at refinancing their current mortgage.

And yet, many homeowners have chosen to do nothing.  Are you one of them?

Source: The Mortgage Reports

According to the Federal Housing Finance Agency (FHFA), the parent of Fannie Mae and Freddie Mac, mortgage refinance volume dropped ten percent last quarter despite sub-4 percent mortgage rates and the loosest mortgage guidelines in more than 10 years.

Homeowners that have elected to refinance, though, are saving big money.

The majority of refinancing homeowners, according to the report, have reduced monthly payments by $150 or more; and, many are using zero-closing cost mortgages to keep the benefits of refinancing high.

Homeowners doing debt consolidations are saving even more — especially with the recent changes in how lenders treat credit card debt.piggybank-house

Despite a drop in mortgage rates (and a loosening of mortgage lending standards), refinance volume remains off its peak. Too many homeowners feel it would be difficult to get a mortgage; or, don’t feel that a refinance is worth the time required.

Give me a call to find out if refinancing might be a good fit for you!

New paradigm in home sales – Virtual Reality

Here’s a really interesting piece from the New York Times regarding virtual reality technology in the real estate world.  I’d highly recommend checking this one out if you are a Real Estate Agent…..

Source: New York Times

This technology is expected to transform the real estate industry and, some say, make house-hunting more efficient. It can help to reduce the stress of relocating to a new city or buying from abroad and also allow buyers to visualize properties in development.

In some cases, the excitement of providing virtual-reality technology to clients has created an outsize sense of the technology’s importance. One company was keeping its VR prototype secret, lest a competitor try to steal it. But whether the technology is ready for widespread use — and whether consumers really want it — remains an open question.

What is now available to consumers and growing more popular is the 3D walk-through. This is an updated version of the panoramic camera shots that were all the rage a decade ago. There’s no headset. Users move their mouse or arrow keys from their computer keyboards and devices to navigate through rooms and zoom in on apartment features.

How Millennial Newlyweds Paid Off $100K Debt – Forbes

This is a fantastic story of how one couple, with some great perseverance, paid off their debt and got rolling.  Absolutely worth the read!

Source: How Millennial Newlyweds Paid Off $100K Debt

Financial professionals might balk at their methods, but this is how one Millennial couple dealt with their debt.

Debt payoff couple

“They’d racked up student loans. And then some credit card debt from professional licensing exams, plus a celebratory post-doctorate cruise. And one day, newlyweds Andrew and Veronica Kaslewicz of Pittsburgh, now both 28, found themselves saddled with more than $100,000 in debt and no good way to pay it off.”

They got mad, and then they got smart and started saving

One day Andrew’s uncle, an antiques dealer, explained to him that gold and silver were also money. “That was the spark that ignited Andrew’s money passion, a simple realization that money could be obtained by other means than working for someone else ,” Veronica said, “It sounds simple, but working for someone else was all we knew at the time.”

Andrew read everything he could about money and how it works. “He began getting angry at how the financial system worked against us, encouraging lending and spending to keep people in debt, and decided that he wanted out. He wanted freedom. I was kind of just along for the ride at first, then I became just as passionate as him,” Veronica said.

Overcoming Performance Fears and Blocks – Baseball | Mental Toughness

Youth Baseball-pitcher-bp6316What REALLY causes slumps, throwing problems and other, seemingly mysterious performance difficulties on the field and the BREAKTHROUGH techniques that can get you unstuck and back on track!

Source from Dr. Alan Golberg: Overcoming Performance Fears and Blocks – Baseball | Competitive Advantage: Mental Toughness

The Problem

Repetitive Sports Performance Problems or RSPPs, a very common performance issue that lays waste to the careers of many talented ball players across all levels of the game. Occasionally an athlete will successfully work through this kind of problem by himself. More often than not, however, these problems will continually sabotage an self-confidence and ultimately drive him right out of the sport.

The Causes

These repetitive performance problems are most often caused by past physically or emotionally upsetting events. For example, a physical injury like a collision, concussion, torn ligaments, pulled muscle, getting hit by a pitch or breaking a bone, or the upset can be emotional like committing an error that costs your team an important game, choking away a big performance opportunity, getting cut from the team or being screamed at and humiliated by your coach in front of your teammates and fans.Second Game 6-26-12106

The Results

These upsetting events end up getting memorized and held in the athlete’s mind and body, long after the experience has been forgotten. If they’re in any way reminded of these upsets or the athlete is under pressure, then components from the original experience end up bubbling up into awareness.

What the athlete becomes aware of at that point is a loss of confidence or feeeling of danger inside. This sense of inner danger then triggers that athlete’s nervous system to automatically respond with self-protective motor programs, i.e. fight/flight. Suddenly the athlete can’t get himself to do what he knows how to do. He loses his velocity on the mound and can’t get the bat off of his shoulders!

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