Bill McHugh's (wmchughprimarymg) Blog

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Mortgage and Lending - The Primary Mortgage Group
RECENT BLOG POSTS
     I was recently watching a series entitled "The Curse Of The Lottery".   It detailed the failed lives and families of those that won excess amounts of money, and did not know how to live that life style.   Then the tail end of the program detailed those stories that showed the brighter side o...
12/28/2006
•1.      Look for any past due balances on the credit report and bring them current.•2.      Reduce all outstanding debt to as close to a zero balance as possible. If unable to pay all debt down, evenly distribute any remaining debt among open credit cards, or consider opening a new line and tran...
12/18/2006
2 Comments
  Outstanding Credit Balances:  have a 30% impact. Debt ratio of outstanding balance to available credit is important. Keeping that below 50% is wise and below 30% is even wiser. It is never a good idea to close an account; the debt ratio will go up and the number of seasoned lines will decrease....
12/18/2006
       I recently set out on a journey after the Sunday morning coffee, and walking the Dog.   My wife asked where I was going.   My response was to clean the streets.   We live in a great neighborhood, less than a mile from rotary to get on 128.   It is a right another one, a quick left one more...
12/18/2006
2 Comments
       In the past the thought was that I have to have 20% to put down on the purchase of my new home.   That today is a myth with all the sophisticated progreams there are.   In the past their was something know as PMI, Provate Mortgage Insurance, that allowed for you to acquire the home with le...
12/18/2006
         For those planning on placing a large down payment on their new home, you want to think twice about it before agreeing to the financial terms of your contract.    Many do not realize what " Aquistion Indebtedness" actually means.    Any debt that is incurred in acquiring, constructin, or...
12/18/2006
     I have been quesioned more and more, and heard more about how, "I don't like those interest only programs, they scare me".   To set the nerves straight, you can change your thought process and attitude to refer to them as I do Principle Option Programs.   What this means is that you can subm...
11/23/2006
1 Comments
 What is the Rate?????When quoting an interest rate to our customers there are a variety of factors that come into play. You may be quoted a rate from another lender that may initially seem attractive, but may not necessarily be valid for you when it comes time to close on your property. The reas...
11/09/2006
Taxes Are Actually An Asset!The secret to American wealth lies within the freedom to own assets with deeds, titles, and articles of incorporation. The government understands this premise, so similarly, they encourage you to take financial responsibility for your own retirement so you won’t be a d...
09/28/2006
     "If everything you were taught, and told to be true, was not, when would you want to know?  Your answer was right away, right?   Well that is what a three generations have taught us about the use of a mortgage and what do to with it, get rid of it right?   Well that is the myth and misconcep...
09/06/2006
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Bill McHugh

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