Our difficult economic situation is not a recession or depression it is a “RESET-SSION”. What we need is a reset of our expectations in many areas of our life. Until we understand the deeper issue driving much of this “reset-ssion” we will struggle with our expectations.
Here is the deeper issue: our population is rapidly aging. Ten years from now the United States will have 100,000,000 people 65 years or older, in a country of 300,000,000 – 30% of our population! Here are 5 Significant Perspectives from Resolve Lending, Inc. (5SPRL) concerning the other economic and demographic spill the government cannot cap.
1. “Demographic trends are the most critical drivers of our economy in modern times, as they predict not only the peak spending and productivity but also innovation early on and retirement later through consumer and work life cycles.” Dent
2. I have never been so aware of how demographics affect our lives. Let me ask you, how productive are you at 30-40 years old? Boomers were 30-40 from 1975-2005 -- How productive will they be at 65 years old?
3. “A resurgence of inflation will be one of the fears of the late 2009-10, just before the worst deflation crisis since the early 1930’s! It’s not that the government will not try to inflate its way out of the next crisis. It’s that the massive write-off of real estate and business loans will outweigh those efforts and contract the money supply—which means fewer dollars chasing goods or deflation in prices.” Dent
4. Catch the last part of #3 – I have a long running debate with a good friend about why there will not be massive inflation – as many pundits believe. The write offs and massive pay downs of debt is so much faster than the government can spend. Massive debt reduction is a deflationary tool; the government cannot spend fast enough to outstrip the massive balance sheet reduction going on.
5. What we are experiencing is not a recession or depression; it’s just “reset-ssion”! Reset your thinking to 40% less. I have called it the 40% recession and on average most people will be worth 40% less (combined stocks and real estate).
I have been around for a long time and I’ve never seen rates this low – if you are not in the mid to low 4’s on your loan give me call to review. We can even do loans when you house is well over 100% of its value.
Jeff
425-802-3019
Have you noticed cynicism on the rise? Does anyone have anything good to say about anything? I’m learning to beware of this characteristic within myself and those around me. Cynicism is the attitude of critical pessimism with a smile. Cynicism has its foundation when we experience loss in a few key areas of our life.
· When we lose confidence in critical institutions in our lives: i.e. government, church, family or work
· When we think we have become more of “the authority” rather than a participant in life
· When we have been unjustly wronged by family, co-workers or an unfilled promise
Here are 5 Significant Perspectives from Resolve Lending, Inc. of how I am learning to deal with our current national past time of cynicism.
1. Apathetic Life: I continue to be aware of how cynical discussions become toxic and suck the life out of me. Therefore a cynical heart breeds an apathetic life.
2. Expectations: A cynical heart is often a symptom of high expectations. Expectation can be nothing more than a premeditated resentment. Resentfulness is the close cousin of a cynical heart.
3. Focus: I’m finding room to just completely focus upon the great aspects of life.
4. Borrow: Hope like everything else is a choice. I recently read that in difficult times we must, “allow joy to be built upon the past but borrower from the future.” I must choose to borrow from the future to restore hope which will in turn kill a cynical spirit.
5. Engage: I can tell when I become most cynical because I do not want to engage or participate with people. It is here where I become the “biggest loser.”
You might ask what this has to do with finances or your mortgage. Well let me ask, “Have you become disengaged about your 401(k), or home prices or future in general?” I hope you will not allow the prevailing cynical nature of many to breed your own apathy. Remember, a cynical heart breeds an apathetic life.
Rates are moving low!
Jeff Turley
Here are 5 Significant Perspectives from Resolve Lending, Inc. on leadership when those you are leading have GOOGLIZED themselves (or they just became a teenager).
1. The leader’s responsibility is not to know all but to have rightly assimilated all information both respectfully and constantly; authority will quickly follow.
2. Those you are leading can take a leader deeper than ever thought possible in certain subjects. Go with them, embrace them. Or do what I call “project their passions to death and learn from them.”
3. It has been well documented that our “titles” have little power in the information age. I would add, factual or agenda driven knowledge is as inherently powerless. Gifted leaders incase their knowledge in wisdom. Wisdom is the “it factor” of leadership. Wisdom is the blend of intuition, experience, fearlessness and character all rolled into one - develop wisdom.
4. One of the greatest qualities of a leader is humility. As a leader, be prepared to have a depth of insight on many subjects; therefore if you are continually accosted by a GOOGLIZED Personality Disorder (GPD) confidently tell them it’s time for them to reboot. Nicely of course!
5. During my graduate studies a history professor told me, “If you want to understand history don’t worry too much about reading broadly, instead read deeply on one individual or topic and all of history will start to open up before your eyes.”
Leaders today cannot afford NOT to read deeply or you will be trampled by those with too little information.
jeff@resolvelending.com
C: 425-802-3019 P : 425-519-3665 F: 425-519-3666
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
*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
The Charles Dickens’ Christmas Carol is a powerful metaphor for our current economic quagmire. I believe Japan is our own Jacob Marley. Nineteen years ago Japan went through a similar financial quagmire, so we must learn from Japan’s ghost of Christmas Past. Here are 5 Significant Perspectives from Resolve Lending, Inc. 5SPRL in attempt to understand our Present Christmas Ghost.
1. Ghost of Christmas Past: Japan’s Baby boom generation happened ten years prior to our US baby boom (80 million). Since that time we have been on parallel economic paths of booms and busts; yet we trail their cycle by 10-15 years. To understand where we go from here – study Japan. Look no further than the Home Price Index and its parallel on my website. Note the dates. http://www.scribd.com/doc/13970982/Richard-Koo-Presentation (look at slide#9)
2. Ghost of Christmas Present: Clinton once said to President Bush, “It’s the economy stupid.” I now want to scream at everyone, “It’s the borrower stupid.” In both the corporate world and the private sector we virtually have no borrowers. We cannot have inflation (hyper-inflation) if we don’t have borrowers – even if the rates are at “0”. Everyone is too busy paying off debt. http://www.scribd.com/doc/22347450/Credit-Watch-Nov2009
3. Ghost of Christmas Yet to Come: Japan went through 8 financial prime ministers during George W. Bush’s 8 years in office. We will do the same. Sign of Christmas future of the U.S?
4. Ghost of Christmas Future: Here is my question (which I do not have the answer) but do not hear anyone asking, “What is the current Ghost in Real Estate inventory?”
· The Shadow runs deep – currently a 24 month inventory – that is a given.
· How many Bank Owned Homes?
· Permitted Homes Ready to be built. How many “ready to be built homes – subdivision ready homes that are un-built.”
· Inheritance Homes: This is one other set of inventory you never hear about...rental homes, 2nd homes, and inheritance homes will soon be coming on the market.
5. Ghost of Christmas Present: Every economic philosophic system is built upon the premise that companies and individuals would “always” be looking forward and maximizing profits. We are currently suffering from the ghost of “Christmas Past”. Both corporations and individuals are paying off debt - not demanding loans, therefore neither Keynesians (government spends until corporations and individuals start spending) or Reganomics “trickle down” (current tax breaks turn into debt elimination, not buying new TV’s) have an answer.
The irony to our economic quagmire is when both corporate and private sectors act like Scrooge - we are in deep trouble. Right now, and rightfully so, everyone is hording because of Ghost of Christmas Past. Until we all get a clear confident picture of the Ghost of Christmas Future we will be in this story for a long time.
Have a Merry Christmas and a Happy 2010!
I have spoken with hundreds of people across multiple financial, business and personal spectrums (MBA) and there is one word which defines this moment in history: crucible. Crucible, “a place, time or situation characterized by the confluence of powerful intellectual, social, economic or political forces: a severe test of patience or belief; a vessel for melting material at high temperatures.” Here are 5 Significant Perspectives from Resolve Lending, Inc. (5SPRL) as we walk together through our crucibles.
1. A crucible is a place where I ask the essential questions of life: Who am I? Who could I be? These are the moments in life where I meet myself. Make sure to consciously “stay in” the crucible long enough to meet yourself and extract meaning.
2. Blame game, emotional detachment, anger, fantasy, and busyness are often characteristics of an unwillingness to walk deeply into my crucible.
3. As I have traveled through my crucibles I find it easy to hide them. Leaders/parents often have to fake it to be the optimist of hope, but these moments wear a person out. Find a place to be authentically honest about your crucible. Optimism is essential, but too much is often a defection.
4. As my industry purifies itself in its crucible, one of my loan officers walked in my office and said, “Don’t wish it were easier, wish you were better.” I’ve repeated this often by saying “don’t wish it were easier, become better.” Being better is a journey of honesty, resolve, and focus. Some days I get it right ….other days… not so much!
5. I’m learning to guard against “catastrophizing” my crucibles. In other words, keep crucibles in their proper perspective. Recently, when my daughter was diagnosed with cancer a wise friend said, “Jeff, you now must learn ‘the discipline’ of living in the moment. Don’t live in the what if’s.” The diagnosis ended up being incorrect, but it allowed me to peer into the window of an incredibly difficult crucible.
As many of you know my industry is right in the middle of a crucible. We are all in this together. If you are wondering what to do please do not hesitate to email or call. If you are struggling with what you hear and need an extra voice - I’m around.
Rates are amazing!
Recently I have been fascinated by child development. My fascination with how a child develops has led me to believe that Marriage and family, Business and leadership, and Adult development (MBA) are amazingly similar. I’m convinced that at the core of a child’s development stands one truth: “eliminate the environment of fear and development will flourish.” Moreover, this truth is consistent across all disciplines (MBA). Here are 5 Significant Perspectives from Resolve Lending, Inc. (5SPRL) on how I am eliminating the environmental fears in my own development.
1. Continue to seek beyond the surface of my own fear by asking a simple question, “What lies do I tell myself to keep environments (MBA) safe?” There is no better exercise for your (MBA) than watching M. Night Shyamalan’s psychological metaphor in The Village and ask yourself this question: “who lives in the forest?” – Watch it and get back to me.
2. In the book, Son Rise, Barry Kaufman describes how he and his wife affected their apparently hopeless autistic little boy. “They began their cure, by making a point, for hours at a time, imitating everything he did. This was the door or path by which they led him or persuaded him to come back into the everyday world.” How Children Learn, Holt. This leads me to ask how well am I connected to those I want to lead?
3. Recently my wife told my daughter Grace, “It’s ok to make a mistake - that is how we learn.” Surprised, Grace said, “it is?” We cannot motivate others out of their fears. We can only provide a safe place for them to develop. I need this reminder, more importantly; I need to provide it to those around me.
4. We all have the fear the failure. I’m convinced those who have the ability to identify and manage their fear of failure have the greatest chance to successes in their MBA. There is no better description than Michael Jordan’s poster …. “I’ve missed 10 thousand shots……that is why I succeed”.
5. If you have ever taught someone to swim you would think correct kicking or dog padding would be the first lesson. Actually, learning “to float” is the essence of swimming and most who do swim never learn to truly float. If those around me are comfortable enough “to float” their development will flourish. Therefore, where am I not creating a safe place for people around me?
oh ya, if your mortgage is not in the 4's give me in a call!
As I watch my four year old son become completely entranced by the funny little monkey, Curious George, I have started to think differently about one of our greatest psychological tools we have at our disposal in life, business, marriage and family…CURIOSITY. Here are 5 Significant Perspectives from Resolve Lending, Inc. that I hope will ignite your CURIOSITY.
1. Curiosity is the oil driving our passion for innovation. Yes, we might be an amazingly innovative country, but if we stop being CURIOUS we will die. This is the same type of death we find in business, marriage and family. When we stop wondering what could be. I want to be a person who facilitates and initiates curiosity.
2. Jacques Barzun delivers one question over and over in his epic, “From Dawn to Decadence”. “Do ideas really exert force?” – I would add “do curious ideas exert force?”
3. Arguable the greatest theologian of our generation, Jurgen Moltmann says, “Right down to the present day, theology (curious search for God) has continued to be for me a tremendous adventure, a journey of discovery into a, for me, unknown country, a voyage without the certainty of a return, a path into the unknown with many surprises and not without disappointments. If I have a theological virtue at all, then it is one that has never been recognized as such: curiosity.” Moltmann – The Coming of God.
4. Now what does that have to do with pulling us out of the Great Recession? A lot. Historically, recessions have been a time when new companies, like Microsoft, get born, and good companies separate themselves from their competition. It makes sense. When times are tight, people look for new, less expensive ways to do old things. Necessity breeds invention. “Therefore, the country that uses this crisis to make its population smarter and more innovative and endows its people with more tools and basic research to invent new goods and services is the one that will not just survive but thrive down the road.” Thomas Friedman – New York Times.
5. Fear drives a wedge into the heart of curiosity. Therefore in my own life when I face my fear in all areas of life it releases me to become contagiously curious and innovative.
I know what you are thinking: didn’t curiosity kill the cat, yes, but the lack of curiosity fried the frog – yes, that is all mine.
Looking forward to hearing from you on the blog or Facebook.
Jeff Turley / President-Broker Resolve Lending, Inc.14205 S.E. 36th St., Ste. 100Bellevue, WA 98006C: 425-802-3019 P : 425-519-3665 F: 425-519-3666LIC#510-MB-26599http://www.linkedin.com/profile?viewProfile=&key=18002950&trk=tab_pro
Resolve Lending, Inc. has seen significant opportunities for investors to innovate when traditional lending intuitions are unable to lend. Private Lending allows personal investors (you) to buy mortgage “bonds” secured with legal recorded deeds of trust with your name in first lien position. Investors also receive greater interest rate returns than from traditional banks with a very low loan to value. You tell us the rate of return you want.
Overview of Private Mortgage Lending:
If you are an investor or know someone (parents) looking for a safe secure place to get a great monthly return – even within your 401(k) and ROTH IRA, let us know; or if you are a borrower looking to secure money for an investment project Resolve Lending, Inc. might have a solution. When current bonds return the investor 2% and the stock market struggles to keep its head above water Resolve Lending, Inc. is seeking innovative solutions. We currently have loans for you to buy!
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