I’m sure we all can relate to the enjoyment associated with the sharing of good news . . . the following is some good news I received this morning via email:
Hi,
We recently published “Hidden Gems: The 100 .edu sites every Entrepreneur Should Read ” I am happy to let you know that your site has been included in the list.
I figured I’d bring it to your attention in case you think your readers would find it useful.
Cheers,
Rich McIver
It has become nothing short of a maxim that when given a choice between higher and lower taxes, people will undoubtedly choose lower taxes, and that lower taxes foster greater investment. After all, most of us purport to be rational thinkers who seek to maximize our own personal wealth! Yet I’m quite sure that virtually anyone who has paid taxes can resonate with the notion that there are many follies within the current tax code, even if they are not formally trained a tax accountant. “What were they thinking?” . . . many of us ask as we seek to finish up those forms at an otherwise beautiful time of year!
Someone not only gets approved for a mortgage where they once couldn’t, but also finds a fantastic rate! This individual is now on his or her way toward achieving one significant aspect of the American dream . . . home ownership. There are other beneficiaries as well. The seller, for instance, gets rid of a property he or she no longer wants, likely at a profit. The real estate agent benefits from a commission that the sale generates. Mortgage investors who own the mortgage now have a new income stream. Sounds like a great deal for everyone, right?
Now, some number of years later, as the terms of the borrowing agreement clearly spelled out to all parties, the “teaser” rate has begun to rise. As a result, this same individual who gained a part of the home ownership dream suddenly feels the anxiety of the initial adjustable rate decision. He or she also begins to feel the pressure associated with going back to the lending market where fixed rates have begun to rise and resale values have now often dropped below the initial purchase price. As it turns out, however, he or she is not alone in experiencing such anxiety. Investors are also now beginning to become concerned with the ability of borrowers to repay their loans. As a result, it now seems ludicrous to even consider making a loan to someone “on the bubble” from a credit standpoint. Let’s not forget the real estate agents – with prices falling the tentativeness of buyers and sellers alike means finding deals that generate those once plentiful commissions much more difficult. So what’s the issue here?