DMI Financial Inc
2005 Valparaiso St
Valparaiso, IN 46383
Are You Managing Your Finances Wisely?
Are you paying too much for your mortgage? Is your money being invested wisely?
If you are curious about how you could save money every month, why not see if I
can help you?
Just give my office a call for a no-fuss, professional
I will not try to push you into making any quick decisions
and I will not waste your time. I will just give you the honest facts about your
And maybe I will save you a few dollars along the
Email or Call me to set up an appointment.
I'll give you a new question.
Just reply to this email for the answer.
A riddle for you this month: What thing can you keep after giving it to someone
Why Not Pass Me to a Friend?
If you've enjoyed this newsletter and found its information useful, please
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Newsletters from DMI
• Good-quality crusty bread, in thick slices
Sun-ripened tomatoes or cherry tomatoes, chopped
Sun-dried tomato paste
• Parmesan cheese, thinly sliced or
• Clove of garlic, peeled
• Extra virgin
• Balsamic vinegar
• Salt and
Lightly toast the bread until
light brown around the edges.
Halve the clove of garlic and lightly smear
it over the bread.
Spread a thin layer of the sun-dried tomato
paste over the bread, and then sprinkle or lay the cheese in a thin layer on
top. Grill the bread in a toaster oven.
Mix the chopped tomatoes with
torn-up basil leaves. Season.
Take the bread out of the toaster oven when
the cheese has completely melted and turned slightly brown. Top with the tomato
Drizzle some extra virgin olive oil and add a dash of balsamic
Get ready to share a
joke, because April is National Humor Month. Here are some quotes about that
funniest of subjects.
Humor is just another defense against the
Humor is a rubber sword - it allows you to make a point without drawing blood.
A sense of humor is just common sense, dancing.
The love of truth lies at the root of much humor.
Humor is by far the most significant activity of the human brain.
Edward De Bono
Humor is also a way of saying something serious.
T. S. Eliot
Why Have an Annual Mortgage Review?
A mortgage is a major obligation. People look at their annual mortgage
statements to see what they paid, but they rarely think what can be done with
What to look for
your mortgage, look at the renewal date, interest rate and prepayment options.
By looking these things, it may be possible to find a way to pay off your
mortgage faster or save money.
The renewal date is the date your mortgage
has to be renegotiated. Knowing this date tells you how long you will be paying
the current interest rate.
Take a look at the rate
Reviewing the interest rate is important. It may make sense to get a new
mortgage if your interest rate is higher than current rates.
to think about when setting up a new mortgage are prepayment penalties, lawyer
fees and other expenses.
The question to ask is "Will I save money?"
You may also want to think about other debts you have. Would you save money on
those debts if they were included in your mortgage?
Look at the
pre-payment options. Making prepayments will cut the interest you pay by
thousands of dollars unless there are penalties. How much would you save if you
used some or all of your prepayment options?
Look at the type of
mortgage you have. Is it the right type of mortgage for your current situation?
What are the risks attached to the type of mortgage you have? What will happen
to your payment if interest rates change?
Your annual mortgage review
will tell you if your mortgage is right for you and if you will achieve your
mortgage goal. Let me help you review your mortgage
3 Myths about
Money That Make You Feel Poor
it seems, often have misconceptions about money.
While many of the things
people actually believe are just plain wrong, some are detrimental to a person's
Following are some of the most popular money myths and
a few simple tips to improve your financial attitude - and fiscal outlook:
1. Money Is Scarce
Surprisingly, this is probably one of the
most common money myths in existence. Fact is that money is simply a unit of
exchange for those things that are scarce, such as time and commodities. You can
create more money by providing value for someone who is willing to pay for it.
2. Money Is the Root of All Evil
This often-quoted myth is
erroneously attributed to the Bible, but even that is incorrect. The actual
quote is: "The love of money is a root of all kinds of evil." The quote is from
the book of 1 Timothy in the New Testament. Money itself is neutral. It can be
used for good or bad, depending upon the priorities of the person using it.
3. It's All about Money, He Who Dies with the Most Toys Wins, Get Rich or Die
All these sayings reflect an attitude where money is
the ultimate goal in life, but it's rarely that simple. Wealthy people tend to
exhibit as much, or even more, depression, sadness and feelings of
insignificance. So, as it turns out, "money can't buy love" might be a more
appropriate money-related quote.
Many people are unaware their credit
history may strongly influence the cost of homeowners insurance. A poor
credit score can result not only in higher insurance premiums but also in a
denial of coverage altogether.
As credit lending standards continue to
tighten, experts agree that it is more important than ever to keep a close eye
on your credit score in order to avoid insurance rate increases or non-renewal
Why It Counts
The most commonly cited reason behind
charging higher insurance premiums to those with lower credit scores is the
belief that people who do not properly manage their finances are at greater risk
of submitting a claim.
to order your free annual credit report. Review the information for accuracy and
immediately dispute any errors in
writing. Not only will it help save money on the cost of obtaining a new loan,
but it might help keep your homeowners insurance rates low.
Keep an eye on credit limits, late
payments and other common credit problems.
Lenders throughout the nation are reducing credit lines, increasing minimum
payments and requiring higher credit scores. Smart consumers should make a point
of keeping an eye on available credit and avoiding late payments, over the
credit limits or other common problems.
Buying Investment Property? What You Need to
With home prices and interest rates at historical
lows, now is the ideal time to at least be looking into your options with regard
to purchasing an investment property.
Whatever your intent, your
best bet is to start by doing two things. First, sit down and figure out what
your goals are in purchasing a property, both short and long term. Second,
figure out if it makes sense on paper.
A good real estate agent or
appraiser should be able to help in determining property values in a given
location, with specific attributes such as venue, square footage and number of
bedrooms, and what those properties would bear in a rental market as well.
Looking at foreclosures, short sales and bank-owned real estate is a good place
to start looking for properties, as they are often below market value. Keep in
mind that they may need a bit of work.
Financing an investment property
is similar to financing a primary residence, but the rates are higher as are the
Also, investment properties are financed primarily
by conventional loans, as the Federal Housing Administration lends only on homes
where the buyer intends to live, with the exception of multiunit properties
where the buyer plans on living in one of the units.
Plan on putting 25%
to 30% down, and have six months worth of assets in the bank with which to make
the payments. This is a bit steep, but lenders want to know that you are
committed to making it work..
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