Real Estate Investors Association of NYC
Real Estate Investors Association of NYC

Mistakes To Avoid When Financing Your Home

Buying and financing a home is the most important personal financial decision we will make in our lifetime. Over a lifetime, the average homeowner may pay one-half of a million dollars or more in mortgage interest, many times more than any other single expense. Yet, the process and substance of home finance remains a mystery to the average American. We tend to know much more about our automobiles than we do about mortgages that make our h ..

Home Equity Line of Credit Part III

During the past two segments we have introduced the concept of a home equity line of credit and whether we should retire the line of credit if we have the cash or are refinancing. This segment we would like to conclude our three-part series by looking at the Home Equity Line of Credit (HELOC) in terms of helping finance a home purchase. There are several uses of a HELOC with regard to this situation– 1. Lessen the cash necessary for ..

Home Equity Line of Credit Part II

In the last segment we discussed the characteristics of a typical Home Equity Line of Credit (HELOC). A typical HELOC is a second mortgage, an open line of credit that can be used to access capital and will typically have an adjustable rate. The next question is–should you procure a new HELOC or retire the HELOC you already have? Let’s first talk about the retirement decision. There are two ways to “retire,” or pa ..

Home Equity Line of Credit Part I

The Home Equity Line of Credit (HELOC) has become a popular financing vehicle for many homeowners with equity in their homes. The purpose of this article is to help the average homeowner make a better decision when deciding whether to procure a new HELOC or retire a present HELOC. First, what is a Home Equity Line of Credit? It is simply a loan that is secured against someone’s home. Though it could be secured against any property  ..

How To Buy a Foreclosure

You want to buy a foreclosure? Remember, there are both great opportunities and great pressures and pitfalls in this market. First, you have to decide at what stage of foreclosure you want to buy. There are three options: 1. pre-foreclosure; 2. sheriff’s auction; 3. repossession, called REO (for real estate owned by the bank). The safest and best way to buy is when it’s a bank-owned property,” said Rick Sharga, a spokesm ..

Equity Use

Despite the fact that home values have not risen as quickly during the past several years,many Americans still have significant equity in their homes, especially if they purchased many years ago and have not previously taken cash out via a refinance. During the recession many Americans fell behind on their financial plans and the slow recovery has put many of us in catch up mode. The good news is that this equity can help you with the recover ..

Public Speaking Is The Best Marketing Tool – Part I

Time and time again polls have been taken to measure the greatest fears of Americans today. Time and time again the answer confounds experts. The top fear is not the dentist chair, heights or even death. It is public speaking. What is it about speaking before more than one person which strikes fears in the hearts of the average American today? Do we fear that our tongue will fall out and we will never be able to use it again? Will we turn int ..

Overcoming The Great Fear

In the last segment we introduced the topic of public speaking–the great fears and the great benefits. What good are all of these benefits if an individual cannot bear to utter more than one word to a group of two individuals without turning to jelly? Many would love to use the power of public speaking but don’t see any way of making it happen. They might as well be standing on one side of the grand canyon with a pot of gold on t ..

Time Management (Part 2)

In the last segment we began our work on time management by stressing that time is our greatest resource. If you ask every business person for a self-assessment, almost all of them would reply: I need to manage my time better. This month we will become more specific by adding pointers that may help you conserve your most precious resource. Start Dealing With Priorities. Stephen Covey in his Seven Habits Series has indicated that our probl ..

Time Management (Part I)

There is no doubt that time is a business person’s most precious resource. In fact, time is everyone’s most precious resource. We never realize how precious time is until we run out of it. George Burns had 100 years, yet he never had time for his final performance. We all waste too much of this precious resource. Many years ago when we began teaching methods of improving time management skills, we introduced the concept of 143 ..