The Mortgage Planning Process

Knowing that wealth in the house is 31% of America's household net worth:

Over 12.3 Trillion dollars some very important questions begin to emerge...

How is your house asset being intergrated into your overall wealth strategy?

How are your mortgage & credit liabilities being integrated into your overall wealth strategy?

The mortgage planning process is different than the typical "shopping for a mortgage" experience. The mortgage planning relationship is not about you:

• Wasting your valuable time trying to save $25/month by comparing rates, fees and closing costs among different lenders.
• Wasting your valuable time trying to baby-sit the mortgage company you've reluctantly chosen to work with.
• Being promised one thing and then getting something different at closing.
• Being "sold" on one mortgage product over another.

The mortgage planning relationship is about you:

• Receiving valuable financial advice and guidance that can literally save you hundreds of thousands of dollars.
• Trusting a professional who is committed, qualified and equipped to deliver what they promise.
• Experiencing a "concierge" level of service when you are in the market to buy a home, refinance your mortgage or make cash flow changes to enhance your lifestyle.
• Implementing a defined financial plan of action in helping you achieve your life goals and dreams.
• Maintaining an ongoing high trust relationship with a team of financial advisors who can help you make necessary changes in your debt, cash flow and home equity planning strategies.

This is a relationship, not just a transaction. As such, it requires a defined system of accountability in order to work effectively. The Mortgage Planning Process consists of the following five steps:

1. Establishing and defining the client-planner relationship.
   • As Your Mortgage Planners we will:
     • Ask you for information about your financial situation and your time frame for results and success.
     • Gather all the necessary documents before giving you the advice you need.
     • Clearly explain or document the services we will provide to you.
     • Explain how we will be paid and by whom. Unless you are willing to pay a flat fee for mortgage and real estate equity advice, mortgage planners are typically compensated through a commission structure set up with the lenders we work with.
   • You Should:
     • Clearly explain how financial decisions are made in your household and include all the key decision makers in consultations with your mortgage planner.
     • Be prepared to share personal and financial information with your mortgage planner in order for them to be able to advise you on how best to achieve your goals.
2. Analyzing and evaluating your financial status.
   • We will analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your credit situation, real estate equity, debt situation and cash flow.
3. Developing and presenting mortgage planning recommendations and/or alternatives.
   • We will offer mortgage planning recommendations that address your goals based on the information you provide. We will go over the recommendations with you to help you understand them so that you can make informed decisions. We will also listen to your concerns and revise the recommendations as appropriate.
4. Implementing the mortgage planning recommendations.
   • We must come to agreement on how the recommendations will be carried out. We may serve as your "coach," coordinating the whole process with you and other professionals such as CPAs, CFP professionals, attorneys, Realtors, builders, insurance professionals and other qualified advisors.
5. Monitoring the mortgage planning recommendations through an annual mortgage and equity management review.
   • We should come to agreement on how we will both monitor your progress toward achieving your goals. During this review, we can adjust our recommendations, if needed, as your life changes. Most often, this process involves periodic assessment of:
     
     
     • Your fluctuating cash flow needs.
     • Changing market interest rates and mortgage strategies.
     • Income and career alterations.
     • Family changes including:
       • Children's financial needs.
       • Caring for elderly parents.
     • How your real estate equity and investments are performing from both a cash-flow and "internal rate of return" perspective.

Click Here to Put the Power of Mortgage Planning to Work for You!

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