Home Equity Planning...

Discussion in 'General Insurance Agent Discussions' started by rogermask, Dec 21, 2006.

  1. rogermask
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    rogermask New Member

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    Hi there, does anybody knows who has the best training and good commissions for this strategy?...Thank you ...Roger
     
  2. sman
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    sman Guru

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    Do you mean to con unsuspecting people to refinance their house into an Option Loan and put those dollars along with the temporary savings of the monthly payment into an EIUL?
     
  3. Sam
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    Sam Founder Administrator

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  4. rogermask
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    rogermask New Member

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    Thank You, anyone besides LifePro?
     
  5. somarco
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    somarco Guru

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    Is there a reason why you are dodging a legitimate question?
     
  6. James
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    James Guru

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    I guess he doesn't take it as a legit question since he didn't mention using a ARM or any type of loan.
     
  7. indaville
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    indaville Super Genius

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  8. rogermask
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    rogermask New Member

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    Thank you very much guys...Roger
     
  9. James
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    James Guru

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    Yea I hear Doug is charging over 8 grand for the workshop, wow I guess the old saying a sucker born every moment is still true.
     
  10. James
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    James Guru

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    Okay, now what is so wrong about the Option Loans, I'm assuming you mean Interest Only or IO loans?

    I'm a strong believer if you really want to own the house for life you should put down as much as possible and limit the years as close to ten years as possible. Then you need to also save money in case of emergency and then you have to have a back up plan such as insurance incase something happens, death or disability.

    Now you have another type of buyer, or todays house owner. This breed isn't going to live in their house for more then 5-7 years before they move on, either to a bigger home or a new location. This buyer will likely live in multiple houses with multiple jobs over their life time. So obviously the traditional idea of owning the home as in the family "Home" is quickly changing. For this buyer the IO is a reasonable and I would say prudent vehicle for protection of their assets. In other words, this buyer is not benefited by having equity tied up in property.
     
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