Turley Blog

As I have listened to many people talk over the past year, the most common theme I heard was “we are cutting back.” Here are 5 Significant Perspectives from Resolve Lending, Inc. (5SPRL) to “create liquidity” without spending a dime one dime more then you are currently spending.

** See Facebook and Linkedin as I encourage collaboration of your ideas

1. “Coffee-UP” – If you are a fluffy coffee drinker – “Coffee-Up” and go with drip and enjoy an extra daily $2.00.
2. Bi-monthly Mortgage payment -- Recently I ran the numbers for a client with a $400,000 mortgage. If the client made bi-monthly payments over the life of the loan it saved the client $300,000.00 over 30 years – without paying a cent more than their current monthly payment. If your current mortgage is $200,000 and could save ½ point in rate then its $150,000. Yes it’s significant!

*I highly recommend you research this option to recoup equity you might have lost over the past couple of years. For more details and mechanics of the bi-monthly payment, contact me.

3. Service Providers in Person - Drop in on all your service providers (cable, phone, cell phone etc.) be nice, and ask what they can do to lower your payments. Recently I bought an I-phone at AT&T and realized I had over 10,000 unused rollover minutes. Just by checking , my cell plan I was able to lower my monthly plan. Dropping in on my cable company created the same result.

4. Remove your junk – Last year we sold a bed we had purchased 12 years ago. We sold it on Craigslist to a guy on the east coast for $800.

5. Homeowners Insurance - Increase your deductable. I have reviewed hundreds of mortgages and have found most clients are paying way too much for their homeowner’s insurance. Something as simple as increasing your deductible can save you big in the long run.

Past this along to a friend, and post your own simple ideas.

Happy New Year 2010

Jeff Turley / mailto:jeff@resolvelending.com

425-802-3019