Client #2
had $7,900 in credit card
debt but a mortgage of $316,000 which had adjusted to a rate of
10.75% per year. Without our help they were going to loose their
house. We eliminated all of their credit card debt and refinanced
them into a 6.5% 30 year fixed rate mortgage. We used our
Mortgage Rate Watch and
Equity Repositioning Report to
illustrate our recommendations. To see their before and after debt
structure
Click Here.
Client #3 was
throwing away $900 per month on rent and accumulating absolutely no
home equity and had no itemized tax deductions. They wanted to own
their own home, accumulate equity and stop paying the tax man. We
showed them how to buy a house and accumulate wealth using our
Rent vs Own Report. To see their before and
after financial structure
Click Here.
Client #4
wanted to pay off $37,000 in credit card debt, lower
their interest rate, and maximize their tax benefits. We showed them
how to do just that and more, putting them into a 10/1 interest only
mortgage, paying off all of the credit cards, and helping them to
set up a tax free side account appreciating at a conservative 8% per
year. We used our
Equity Repositioning Report
and our
Mortgage Total Cost Report to illustrate our solution.
To see their before and after financial structure
Click Here.
* All dollar amounts are
before tax dollars unless otherwise specified.
----------------------------Client
# 1-------------------------------
Debt Structure When They Called Us
|
Source |
Amount |
Interest Rate |
Monthly
Payment |
Monthly
Savings |
1st yr
Savings |
|
Credit
Cards |
$42,000 |
20% |
$1,260(3%) |
N/A |
N/A |
|
Mortgage |
$280,000 |
6.5% |
$1,800 |
N/A |
N/A |
Debt Structure After Refinancing
|
Source |
Amount |
Interest Rate |
Monthly
Payment |
Monthly
Savings |
1st yr
Savings |
|
Credit
Cards |
$0 |
20% |
$0 |
$1,260 |
$15,120 |
|
Mortgage |
$329,000 |
5.5% |
$1,800 |
N/A |
N/A |
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---------------------------Client
# 2------------------------------
Debt Structure When They Called Us
|
Source |
Amount |
Interest Rate |
Monthly
Payment |
Monthly
Savings |
1st yr
Savings |
|
Credit
Cards |
$7,900 |
19% |
$237(3%) |
N/A |
N/A |
|
Mortgage |
$316,000 |
10.75% |
$2,949 |
N/A |
N/A |
Debt Structure After Refinancing
|
Source |
Amount |
Interest Rate |
Monthly
Payment |
Monthly
Savings |
1st yr
Savings |
|
Credit
Cards |
$0 |
19% |
$0 |
$237 |
$2,844 |
|
Mortgage |
$329,000 |
6.5% |
$2,101 |
N/A |
$10,176 |
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----------------------------Client
#4------------------------------
Debt Structure When They Called Us
|
Source |
Amount |
Interest Rate |
Monthly
Payment |
Monthly
Savings |
1st yr
Savings |
|
Credit
Cards |
$37,500 |
19% |
$1,125(3%) |
N/A |
N/A |
|
Mortgage |
$567,000 |
6.75% |
$3,677 |
N/A |
N/A |
Debt Structure After Refinancing
|
Source |
Amount |
Interest Rate |
Monthly
Payment Interest
Only |
Monthly
Savings |
1st yr
Savings |
|
Credit
Cards |
$0 |
19% |
$0 |
$1,125 |
$13,500 |
|
Mortgage |
$612,500 |
6.0% |
$3,062 |
$614 |
$7,368 |
Tax Free Side Account Value @ Conservative 8%
Per Year
|
Source |
1st
Year Total |
5th
Year Total |
10th
Year Total |
15th
Year Total |
20th
Year Total |
30th
Year Total |
|
Total
Value |
$20,568 |
$160,539 |
$366,201 |
$668,201 |
$1,112,397 |
$2,723,379 |
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