Hi All,

Well, here is some news that’s relevant for all you potential borrowers out there. Despite the fact that real estate prices have declined, the mortgage underwriting industry is raising their fees. In particular, Fannie Mae and Freddie Mac are charging a fee of 3/4 of a percent on condominium units. In addition, new regulations regarding FICO scores, minimum down payments and home appraisers are increasing transaction costs. Watch out for the effects this will have on your wealth.

The story is at the LA Times.

Check it out if you’re in the market for a mortgage.

Best,

James

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1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

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4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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