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Do you know the business you are really in?

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Mortgage Professional America | 21 Jan 2015, 07:51 AM Agree 0
We all think we are in the "mortgage business" but the truth is that no one really wants a mortgage. No one I know will ever wake up in the morning and say "WOW - I want a mortgage"
  • Wm Matz | | 21 Jan 2015, 02:47 PM Agree 0
    Good article, but I would change the conclusion slightly. We are actually in [or should be in] the financial planning business. As Brian notes, start with goals and payment comfort, but do so in the context of the rest of the financial planning "pie". E.g., for those approaching retirement, determining the proper home financing plan is critical, regardless of whether the goal is to have the home paid off at a certain point or have a mortgage that will have a known, lower payment in the future. Here it becomes important to plan what other assets [IRA, 401k, investments] are available to be used in the plan. Ideally, the planning should be done in collaboration with the other financial advisers.
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