In this episode, Curtis talks with Jordan Goodman, who is “America’s Money Answers Man” and a nationally-recognized expert on personal finance. He is a regular guest on numerous radio and television call-in shows across the country, answering questions on personal financial topics.
He is the author/co-author of 13 best-selling books on personal finance including Master Your Debt Fast Profits in Hard Times, Everyone’s Money Book, Master Your Money Type, Barron’s Dictionary of Finance and Investment Terms and Barron’s Finance and Investment Handbook.
Jordan is also a speaker and seminar leader on personal finance topics for business executives, students, associations, investment clubs, employees and others. They talk about making money and pay yourself first.
Curtis’s motto is that what you learn today and how you position yourself will determine your future financial well-being 5, 10, 20 years from today. To learn more about how to manage your wealth in a practical way, visit www.practicalwealthadvisors.com
Links and Resources from this Episode
- Earning high income from Secured Real Estate Funds. Instead of keeping your money in the bank earning 0%, a suitable alternative would be Secured Real Estate Funds which pay 8% a year in monthly checks, which can either be deposited electronically or reinvested. These funds lend to high quality commercial real estate projects that are having a hard time getting financing from traditional banks and they use the “collaborative lending” model to help builder/developers complete their projects in a timely way. The maximum they lend is a 70% loan to completed value. The minimum investment is $5000 and minimum hold time is 1 year. Find out more at www.securedrealestatefnds.com or call 888-444-2102.
- Mortgage equity optimization to pay off a 30-year mortgage in 5 to 7 years. By using a HELOC combined with a traditional first mortgage, people can pay down their principal much faster so they can pay off their mortgage in 5 to 7 years on their existing level of income. I will explain how this works and I have also attached to this email a chapter from my Master Your Debt book called Mortgage Free in 5-7 years. www.truthinequity.com.
- Mortgage Savings for Heroes. People in the military, first responders, doctors, teachers, and clergy give a lot of great services but are not usually rewarded or appreciated enough. The Heroes Come First program at www.heroescomefirst.com gives these heroes big discounts on mortgage rates and fees and also a rebate of real estate agent’s commissions when buying or selling a home. All of this can add up to $2000 or more for a home transaction.
- Verifying loan payments. Many people do not realize that the payments they are making on their adjustable rate mortgages, escrow withholdings, and private mortgage insurance are incorrect. If they get those amounts audited and errors are found, people can qualify for huge rebates and adjustments of their payments down to the correct levels. They can find out how to do this at www.verifymymortgage.com, www.verifymyescrow.com, and www.verifymypmi.com
- Refinancing your car loan to lower car payments. Many people took on bigger cars and car payments that they can afford in the last two years and now they may be in danger of getting their car repossessed if they can’t afford their payments. People don’t realize they can refinance their car loans to a lower rate and lower payment by lengthening out the maturity of the car loan. www.myloangen.com.
- Getting credit card debt under control. For people with massive credit card debt at high interest rates, it seems like they will never be able to get ahead. People can use a quality non-profit credit counseling organization to combine all of their credit card debt into one payment at a much lower interest rate—typically 6% to 9%--to get out of debt in 2-4 years instead of 30 years or more.www.cambridgecredit.org
- Improving your credit score and erasing errors from your credit report. Many people have errors on their credit reports that are dragging down their credit scores unnecessarily. I can discuss what you can do to get errors off your report and what your rights are under the Fair and Accurate Credit Transaction Act (FACTA). In many cases, it is better to have a professional take care of this for you so I will refer people to Better Qualified at www.tourdecredit.com or have them call 888-533-8138.
- Selling your life insurance policy for cash. When people don’t need or can’t afford their life insurance policy any longer, they usually let it lapse, letting the insurance company off the hook. But they don’t realize that they may be able to sell that policy for tens or hundreds of thousands of dollars in the life settlement market. The people or institutions that buy the policy become the beneficiaries and collect the death benefit when you die and are willing to pay you thousands of dollars now to take over the policy. You will never hear about this from life insurance companies who want your policy to lapse. People can find out more about this at fundinglife.com or by calling 877-485-6681.
- Refinancing student loans. Many graduates have thousands of dollars in federal and private loans at high interest rates so it often makes sense to combine all of them into one new loan at a much lower rate, typically 2-3%. credible.com/moneyanswers
- The Ultimate Guide to Student Loans. What you need to do to save upfront to avoid needing to borrow, how to get the best loans when you get to college and how to pay the loans off as quickly as possible after your graduate.
- Getting advantageous financing for your business. Instead of dealing with traditional commercial banks or merchant cash advances that are hurting many small businesses. www.corporatelendingsolutions.com
- What to do if you are piled under in business debts. The strategy of prioritization where some debts are prioritized over others and so you pay the most important ones first to stave off creditors. Go to www.helpwithpayables.com or call 800-411-1113 to know how to put this strategy into action.
Special Listener Gift
Show Notes
- Jordan talks about the Secured Real Estate Funds - 3:16
- How to mitigate the risks - 4:40
- Jordan talks about Crowdfundings - 5:29
- Reinvest your IRA - 6:25
- How to get mortgage savings - 9:14
- Jordan recommends to us a web page called: Hero's come first - 10:12
- Verifying loan payments - 12:17
- The Blended Strategy - 18:21
- Jordan tells us the importance of having equity in your house and positive cash flow - 21:06
- Refinancing your car loans - 22:44
- Jordan tells us some resources to help people with credit cards debts - 28:27
- Curtis and Jordan talk about Students Loans - 28:40
- How to save and invest before you enter college - 32:11
- How to get the best student loan - 32:20
- Getting an advantage for business owners - 35:14
- Jordan talks about Corporate Lending Solutions and their website - 36:09
- How a small business can get a loan - 36:36
- Jordan recommends taking immediate action - 42:12
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