Who is the King of 15 Year Mortgages?

If you have been living under a rock or on a deserted island you may not know about the historic low mortgage interest rates.  Since statistics have been kept in 1933, never before have mortgage rates been this low in our nations history.  The lowest fixed rates of all are the 15 year variety.  They are below 3 and quite possibly dropping further.  A little know fact about 15 year mortgages is that only 1% of the population actually obtains a 15 year mortgage.  Most people want the comfort of the lowest payment available to them, thus they choose the 30 year option.  I am drawn to the fact that the interest rates are as much as .75% lower for a 15 year than a 30 year mortgage.  You would think that the payments would be comparable to each other, but they are not.  The payment is roughly
$ 200 higher for a 15 year mortgage for each $ 100,000 borrowed.  It scares most borrowers to death. But if you compare the current rates of people who have purchased their homes in 2007 and are still making payments based on interest rates in the 6% range, the 15 year payment at today's rates are comparable to what they are currently paying. If you can afford the payment now you should be able to afford the new payment at 15 years in the future.  Most borrowers can shave off 10 years on their mortgage and still be at a comparable payment to what they are currently paying.  Since I show this analysis to most customers, I have seen a dramatic increase in the number of borrowers obtaining 15 year mortgages.  My percentage of customers getting 15 year mortgages is 600% higher than the national average.  Did you know that there is no credit score requirement for a 15 year mortgage other than the minimum 620.  There is no effect on the interest rate charged.  Maybe you should consider a 15 year mortgage.  Come to the King of 15 Year mortgages for your next loan.

Andrew Williams
NMLS # 118317
Abacus Regional Mortgage
484 695 5972

INCREDIBLE ACT OF KINDNESS

We were at the beach when a commotion startled us to our left... We looked to see a man grabbing at his throat like he can't breath..his wife runs to the lifeguard chair asking for help...another woman tells him to lie back in his chair..within seconds he stops moving and his face turns dark grey..he is dead. The lifeguards come running and pull him off his chair on to the sand by his legs. They immediately start CPR and a lady comes over and immediately starts pounding on his chest..she is an ER nurse. Within minutes, police come running onto the sand followed by Paramedics, but they can't get an ambulance on the sand because you can't drive on the beach. The Paramedics place the man on a stretcher with a Defibrilator attached to it. You can see his body jump but no pulse. Every minute, as they continue to work on him, his body jumps in response to the electrical shocks he is receiving but still no pulse. Eventually they manage to get a beach vehicle on to the sand and get him loaded onto it in the back. As they drive away you can still see the paramedics working on him but the mood is very dim with the remaining swimmers and beach onlookers' faces in horror over what we've just witnessed. A woman faints as another tells us that he has had 7 heart bi-pass operations and can't get another. As his loved-ones leave the beach, everyone else appears to try and get back to some sort of normal activity, but the mood is not good as we all know the outcome of this event. About an hour later, the lifeguard who originally started the CPR is back at his chair. We asked him what became of the man. He told us that his heart has started beating but it is irregular. He was lifted by Helicopter to a hospital in Atlantic City where he remains in critical condition. Since yesterday, he has been moved from Critical Care to Stable and is on the road to recovery. What an incredible story with a happy ending. Everyone from the bystanding nurse,the lifeguards, paramedics, police to the helicopter pilot all deserve kudos for what they have done for this man.

HEALTHY SNACKS AREN'T SUPPOSED TO TASTE THIS GOOD!

This concoction is one that I came up with over the years that tastes fantastic yet is super healthy. Here are the ingredients:

1 cup of fresh strawberries
1 tablespoon of Lowfat Vanilla Yogurt
1 tablespoon of Lowfat Cottage Cheese
1 teaspoon of Wheat Germ
1 teaspoon of Vanilla Granola
1/4 cup of whole walnuts

Slice the strawberries and mix with all of the ingredients. It stores well in a container to pack for lunches and makes a fantastic snack. It is half the calories of ice cream yet contains Omega 3s and packs alot of protein to increase metabolism and fat burning.

HOW HARD CAN IT BE TO GET SOCIAL SECURITY IF YOU ARE 62?

Shouldn't social security be easy to obtain when you are of retirement age? I have a friend who continues to bang their head against a brick wall from attempts to have the social security administration (SSA) grant them retirement benefits. How difficult can it be to start getting benefits which are rightfully theirs?

After applying last year, this file is in limbo in some sort of SSA purgatory. Months upon months of phone calls, repeated visits, letters from their Congressman and still nowhere? It shouldn't be this difficult. After doing some research, I found that the SSA doubts whether they have indeed retired. After furnishing the SSA with proof of retirement in the form of a tax return showing low earnings, and a letter from their last employer stating they are retired, the SSA still questions their validity.

The current schedule of retirement ages are as follows:
Age 62, Partial Retirement Benefits
Age 67, Full Retirement with Full Monthly Benefits
Age 70, Full Retirement with Unlimited Additional Earnings*

* After age 62, a person can earn additional income from another job but must earn below $ 14,160 for the year. Any earnings exceeding this amount will be paid back by deducting $1 of Social Security Benefits for every $2 earned from other employment.

What difference does it make if they continue to work? Let's pretend they aren't retired and are going to continue working. If they earn over $ 14,160 and receive SSA benefits, it will have to be paid back next year. They wouldn't be getting away with anything anyway! What do you think?

Andy Williams
President
Abacus Regional Mortgage