Reason: Corrupt Insurance Companies.
File under: SAFETY.
Staying liquid is safer. Might it cost you a few more dollars? Sure, but its safer. What's that worth to you? Nothing brings that point home like images of houses in flames, homeowners in tears, and more houses in flames.
Watch all three installments of this video, an effort by PBS and Bloomberg.
I can't really weigh on where the bias is in this, but I am sure there is some. The media loves to portray big business (insurance companies) as evil, and looking to choose dollars over people all day long. But how well do you know about your homeowners policy? Do you know anybody who lost their home in the Oakland Hills Fire? How about the 2003/2004/2005/2006/2007 fires in San Diego/Los Angeles/Orange/San Bernadino/Santa Barbara/Ventura County?
What I can do, is point out to you that it is important to review and understand your policy. It's important to work with an insurance provider who is reputable and reliable. If you need a referral to one, please email me.
And I can also teach you some highly effective mortgage strategies that help you take control of your financial profile, build liquidity and safety, and rest easy at night.
Nobody expects disaster to happen to them. But if it does, and you have a fight on your hands with the insurance company, it can take YEARS to settle, or be indemnified. Regardless of the outcome, where are you going to live while the fight goes on - and how are you going to pay for it when the insurance company is denying your claim?
Here's another example: Senator Trent Lott has been down this road related to Hurricane Katrina devastation to a home he owned free and clear.
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About Me
- john
- As a Certified Mortgage Planning Specialist (CMPS) with extensive experience in the mortgage industry, I specialize in helping my clients find, structure and manage mortgage debt as one piece of a larger financial strategy. I provide my clients with detailed home loan and debt structuring guidance that compliments their long term financial objectives, including college savings, retirement planning and other investment goals. With an understanding of financial planning concepts that relate to taxation, investment strategy, and estate planning, I work to create a personal strategic mortgage solution for my clients’ diverse financial needs. I collaborate with advisors in other financial fields, and introduce other specialists for guidance as needed. The ability to assess and advise on all aspects of a client’s financial situation can minimize financing costs and tax exposure while building net worth – a benefit often missed when focusing on home loans exclusively.