Economic Crisis? Can this be turned around?

Last Thursday was the National Day of Prayer. IAll over the country, in businesses, churches, homes, etc people were praying for our nation, the United States of America.

As I was praying and joining in with the others around the country, I felt the Lord speak to me about paying off the national debt. What I mean is, I sensed God would like us to join in unity and do our part, make an effort to pay off the national debt. Is it even possible? I don't know but with God all things are possible. I do not know the first thing to do or how to even begin to organize this. What I do know is that America was built on biblical principles. Our founding forefathers would probably roll over in their graves if they knew the debt America and it's people are in. So many of us have a consumerism mentality - some because that's just how we were raised. I'm not condemning anyone because I play a role in that too. Over the last 8 years, the Lord has shown me how important it is to learn how to live within your means, meaning don't buy something unless you have the cash to do so. Debt isn't a sin, but it can lead you into bondage. A favorite Scripture of mine is found in Proverbs 22:7, Just as the rich rule the poor, so is the borrower servant to the lender. I don't know about you, but when i have credit card debt that I cannot pay off when the bill comes, it puts me into a sense of "bondage". Maybe you're not feeling the squeeze others are? If not, that's great!!

With so many folks losing jobs due to downsizing and company closures, we are seeing more and more folks feeling the "heat" or the bondage of the debt load they carry. I recently received this video from an economist I know and it sure is eye-opening but not surprising to me. I wanted to share it with you so you could also do some research and see what you can do personally to get your family into a better place. If Americans would pay their debt off as quickly as they can and invest in American products, we could see a positive change. If we drag our feet and wait too long, we could face the worst of times this country has ever seen. I know that some will remain in denial and say "this won't happen to me"... but time will tell.

http://www.youtube.com/watch?v=m1VbGcaVvFM - Check this out!

Now, on a positive note - there is hope - Jeremiah 29:11 says For I know the plans I have for you, says the Lord. They are plans for good and not for disaster, to give you a future and a hope. If you are a follower of Jesus, this promise is for you. We must turn to God and seek him with all we have and do. He is our strong tower, our place of refuge and His arms are opened wide waiting for you to come to Him. Jesus doesn't shield us from difficult circumstances but He examines (tests) both the righteous and the unrighteous. Use this as an opportunity to grow in a relationship with God. Whenever things go wrong in our lives, we have to believe and trust that God is still for us. We contend for the promises, but we trust Him for any outcome. He knows what's best for us. Read Psalm 3. As we depend on God's mercy, we can be at peace about anything. We can conquer fear by trusting in the Lord.

Jewel and I focus on helping clients make good choices in their home financing decisions. Our choices today affect our tomorrows. We want you to be able to weather the economic storm this country is facing. I pray that you become encouraged and motivated to make changes in your life that will prepare you for what could happen. If we can be of assistance in that, please feel free to call or email. Visit us at www.wantinsight.com.

Blessings Abundant!

Michele Cole
Business Development Rep
Jewel Callahan
Mortgage Consultant
The InSight Team
Mid America Mortgage
www.wantinsight.com

Tax Credit Deadline Approaching - No fooling!

No fooling around, the tax credit for home purchases is approaching fast!!

Home buyers will qualify for the tax credit until April 30, 2010* (as long as they have entered a binding contract), and have an additional 2 months (until June 30, 2010*) to close the transaction. Borrower income limits have been increased to $125,000 for individuals and $225,000 for couples (up from $75,000 and $150,000 respectively under the current program). The legislation includes a tax credit not exceeding $6,500 for move up buyers who have owned their current homes for at least 5 years.

If you are considering a move and buying a new home, NOW is the time to act. Not only for first time buyers but for buyers wanting to downsize, or up size who have owned their homes for 5 years or more, you qualify for some credit as well!

Interest rates have been staying stable and are still at record lows!!! There are still no downpayment loans available thru VA loans. Contact us to see how you may qualify!

You probably know someone who has been hurt greatly by the economic times. The InSight Team's heart is to help point you towards the right product for your home financing. One that even with economic uncertainity, you can have peace.

For an Honest Approach to Home Financing, please give us a call at 816-510-1399 or visit us at www.wantinsight.com

Michele "MAC". A Cole
Business Development
Jewel Callahan
Mortgage Consultant
www.wantinsight.com

Great News!! Tax Credit Extended and Expanded!!

President Obama signed into law legislation extending and expanding the $8,000 first-time home buyer tax credit. This a victory for consumers and the housing industry.

Under the legislation, home buyers will qualify for the tax credit until April 30, 2010* (as long as they have entered a binding contract), and have an additional 2 months (until June 30, 2010*) to close the transaction. Borrower income limits have also been increased to $125,000 for individuals and $225,000 for couples (up from $75,000 and $150,000 respectively under the current program). The legislation also includes a tax credit not exceeding $6,500 for move up buyers who have owned their current homes for at least 5 years.

If you are considering a move and buying a new home, NOW is the time to act. Not only for first time buyers but for buyers wanting to downsize, or up size who have owned their homes for 5 years or more, you qualify for some credit as well!

Interest rates have been staying stable and are still at record lows!!! There are still no downpayment loans available thru VA or USDA loans. Contact us to see how you may qualify!

You probably know someone who has been hurt greatly by the economic times. The InSight Team's heart is to help point you towards the right product for your home financing. One that even with economic uncertainity, you can have peace.

Pleaes feel free to give us a call at 816-510-1399 or visit us at www.wantinsight.com

Michele "MAC". A Cole
Business Development
Jewel Callahan
Mortgage Consultant
www.wantinsight.com

NEW REFI PLUS PROGRAM

Watch your savings add up quickly!

Even if you’ve experienced a property value decline as a result of the economic downturn and mortgage crisis, you may be able to refinance your home loan into a very low fixed rate mortgage!

The Mortgage Refinance Affordability Plan recently implemented by President Obama offers many homeowners the chance to refinance their current mortgages. Many homeowners who have seen their property values drop the past several years can see real help with this plan.

And we at InSight Mortgage Group can answer your questions and see if you qualify for this or other refinancing programs. If you have a current 80/20, 80/15/5 or 80/10 loan, where you did a 1st/2nd combo in order to avoid PMI, we may be able to get you into a 105% LTV first mortgage.

Save thousands of dollars over the life of your loan by locking into a low interest fixed rate loan. Maybe a refinance could save your home from foreclosure.

Whatever your personal home loan needs may be, take advantage now and see your savings add up. Call Dick or Michele at InSight Mortgage Group, 913-642-3334. Email us at dickw@wantinsight.com or michele@wantinsight.com or start your application online at wantinsight.com.

YOUR PERSONAL ECONOMY

I believe we need to downplay the media attitude of Chicken Little’s “the sky is falling”. All that happens is that we get emotional and become too stressed, affecting our relationships and daily activities. (Poor moods,depression,apathy)
This isn’t an ostrich move – putting your head in the sand and pretending the world away! It’s just the opposite. We must look to ourselves and focus on our own personal economy. We need to become financially responsible, so that we can accumulate enough wealth to care for loved ones, live comfortably into old age, and give generously to others.

Many financial advisors recommend having an emergency fund (no, not for the big screen TV you want) and paying down debt. Dave Ramsey suggests starting with a $1,000 emergency fund. Then begin focusing on paying off debt – the credit card or loan with the smallest balance first. Paying these off first gives you a sense of accomplishment and free’s up money to use to pay off the next debt on the list. The quicker the success, the more likely you’ll stay with the plan. After paying off a few of the bills, add to your emergency fund. Plan on having a buffer of 5-6 months of income. This fund is not an investment, it is insurance you pay to yourself!

When you have a plan, live on less than you make, and save money – you’re not in trouble. If you have no credit card debt and the card companies raise interest rates to 30%, you won't have the fears you may be experiencing now!

Given the current economic climate, it’s incredibly important to make sure you protect your largest asset – your ability to earn an income. Could you get by on half a paycheck? (www.halfapaycheck.com) One of my trusted associates, Deb Clem-Buckert, can give you some insights into recession proofing yourself. She is with HighPointe Financial Group LLC and can be reached at 913-234-0397 or dclem-buckert@finsvcs.com

Anytime you have questions, or comments on our blog, we're happy to hear from you. Email me at michele@wantinsight.com or call me at 913-642-3334. Have a blessed day.

Federal Reserve leaves funds rate at 2%

The Federal Reserve Board has once again decided to leave a key interest rate untouched. What is their reasoning behind this?

Existing Pressures

In its press release, the Fed pointed out the already existing pressures on Wall Street, employment, household spending, and inflation:
• On Wall Street: Strains have "increased significantly"
• On Employment: The workforce has "weakened further"
• On Household Spending: It's "softening"
• On Inflation: It's "been high"

The Fed believes though, that the combined impact of these pressures will eventually die down by both prior rate cuts, and market forces. Let’s not forget, that just last August, the Fed Funds Rate was 5.250 percent and the Fed wants to avoid over stimulating the economy. Too many rate cuts could be counterproductive and detrimental in the long run.

Injecting Money

The Federal Reserve controls the supply of money and its cost by injecting funds or taking funds out of the banking system. The Fed has already recently injected $50 billion to curtail instability brought on by the collapse of Lehman Brothers and the problems of American Insurance Group.

Fed helps bring liquidity
• The Fed buys government securities from banks in exchange for lending them money, in order to increase the money supply and make money easier to borrow.
• Banks that borrow the money, then lend money to other lending institutions.
• The other institutions lend to consumers.

Theory

Part of the economic theory behind leaving the rate unchanged, is because the Fed does not want to create the sense that it is going to rescue more struggling companies. Could this affect risky decisions made by large companies if they felt the government would bail them out if needed?? Give us your comments.

Economic growth over the next few quarters is likely to remain flat, but over time, the considerable easing of monetary policy, combined with continuous plans to promote market liquidity, should help to encourage moderate economic growth. Do you think it makes sense to leave the rate at 2%?

If you're wanting a plan to monitor and lock-in great rate dips like the ones we’ve been seeing off and on, get in touch with us and we’ll walk you through the process to capture a low mortgage rate when it presents itself. Call us at 913-642-3334 or email at michele@wantinsight.com.

Michele “MAC” Cole
913-642-3334
www.wantinsight.com

How to survive the tough economic times in the mortgage and real estate industry?

Al Bernstein
Success is often the result of taking a misstep in the right direction.
How can we balance growth and reduce fears during an uncertain economy?

How can we take this economic crisis and turn it into a positive change for the real estate and mortgage industry?

One way in this uncertain economy, it gives you the opportunity to re-evaluate your business, come up with new strategies for lead generation, human resources, marketing, and investing.

During tough economic times, we need to ask ourselves, what is the worst thing that can happen? How do we prepare for these fluctuations in our economy with the least amount of fear? And can fear and faith co-exist? The bible tells us in Hebrews 11:1 Faith is the confidence that what we hope for will actually happen; it gives us assurance about things we cannot see.

Unfortunately a lot of innocent folks are being impacted by the choices that were made when the market was good. The funnel of how to do more business fueled people into buying homes that were more than they could afford. If it’s too good to be true, it is!
Poor choices whether made by the client or our direction reflects negatively on us and the consequences mean less repeat business.

-We need to get back to the basic fundamentals: maintain a strong work ethic, serve our clients with high quality counsel and service.

-We need to educate them on how to live within their means, avoid the use of debt, build liquidity into their situation, set long term goals and understand that God owns it all.

-And most importantly, we need to keep our clients best interests before us at all times.

InSight Mortgage Group provides your clients with wisdom and InSight in to their situation. Visit us at http://www.wantinsight.com/. We provide tools to help them make good choices… choices they can live now and in the future…

As your faith is strengthened you will find that there is no longer the need to have a sense of control, that things will flow as they will, and that you will flow with them, to your great delight and benefit. Emmanuel Teney


Thermometer – measures what is going on, but has no control over your environment
Thermostat – Helps you take control of your environment

Ask yourself – Am I going to be a thermometer, which is driven by fear?
Or am I going to be a thermostat, which controls my environment?

Michele "MAC" A. Cole
http://www.wantinsight.com/