| QUOTES from
the
Masters... |
| On Sowing and Reaping |
On Change/Choice |
"You will become as small as your controlling desire; or as great as your dominant aspiration." -- James Allen
"Life is a process of accumulation. We either accumulate the debt or the value, the regret or the equity." -– Jim Rohn
"You will be more successful indirectly in relationships rather than
directly. To have a friend, be a friend. To impress others,
be impressed by them." -- Brian Tracy
|
"The
greatest discovery of any generation is that a human being can alter his
life by altering his attitude." -- William
James
"For
many people, change is more threatening than challenging. They see
it as the destroyer of what is familiar and comfortable rather than the
creator of what is new and exciting." -– Nido
Qubein
"To
exist is to change, to change is to mature, to mature is to go on creating
oneself endlessly." -- Henri Bergson
|
 |
Reverse Mortgage Considerations |
|
|
What Is a Reverse Mortgage?
A
reverse mortgage is a loan against the value of your home that does not have to
be paid back for as long as you live in the home. Simply put, a reverse mortgage converts some of the equity in
your home into income.
In Evaluating a Reverse Mortgage,
Consider…
- Typically,
a reverse mortgage must be a "first" mortgage, meaning that if you
still owe money on your home, you must pay off the existing mortgage before you
can get a reverse mortgage (note: an initial lump sum payment from a reverse
mortgage can be used to pay off an existing mortgage).
- Keep
in mind that, while you don't have to repay a reverse mortgage for as long as
you live in the house, the amount that ultimately has to be repaid does grow
over time.
- While
the amount of debt grows over time, the reverse mortgage repayment cannot
exceed the value of your home at the time it is ultimately sold.
- If you
take out a reverse mortgage, you continue to own your home. This means that you continue to be
responsible for expenses such as property taxes, hazard insurance and home
maintenance and repair.
- Reverse
mortgage proceeds may affect eligibility for assistance under state and federal
programs.
- The
upfront costs associated with a reverse mortgage, such as an origination fee,
closing costs and mortgage insurance premium, can be significant. This means that a reverse mortgage may be
expensive if the loan is repaid within a few years of closing. As a result, if you anticipate moving within
a few years, you should explore another alternative, such as a home equity
loan.
- Repayment
of a reverse mortgage when your home is sold will mean less equity left to pass
to your heirs.
|
| MESSAGES
from
the Masters... |
SUCCESS IF NOT AN ACCIDENT by Brian Tracy
Success is not a miracle. Nor is it a matter of luck. Everything
happens for a reason, good or bad, positive or negative. When you are
absolutely clear about what you want, you only need to copy others who
have achieved it before you, and you will eventually get the same
results that they have.
This is referred to in the Bible as the Law of Sowing and Reaping which
says that, "Whatsoever a man soweth, that also shall he reap."
Sir Isaac Newton called it the third principle of motion. He said, "For
every action, there is an equal and opposite reaction."
For you and I, the most important expression of this universal law is
that, "Thoughts are causes and conditions are effects."
Put another way, "Thought is creative." Your thoughts are the primary
creative forces in your life. You create your entire world by the way
you think. All the people and situations of your life have only the
meaning you give them by the way you think about them. And when
you change your thinking, you change your life, sometimes in seconds!
The most important principle of personal or business success is simply this: You become what you think about most of the time.
It is not what happens to you but how you think about what happens to
you that determines how you feel and react. It is not the world outside
of you that dictates your circumstances or conditions. It is the world
inside you that creates the conditions of your life.
|
We
don't want to add to your e-mail clutter! If you do not enjoy
my
newsletter, just reply to this e-mail and ask to be removed or call my
office. Thanks!
The purpose
of this newsletter
is to provide information of general interest to our clients, potential
clients and other professionals. The information provided is
general
in nature and should not be considered complete information on any
product
or concept described. For more complete information, please
contact
my office at the phone number above.
|
