Debt In America

Everybody is wondering about the economic crisis. What caused it, how do we get out of it? What’s next?

By all accounts, the experts say that America and the world have been on a spending binge. This ‘all nighter’ was precipitated by the availability of easy credit. The entire world is guilty.

Our appetite for spending and our willingness to ignore the lessons of the past concerning debt have fully leveraged the world’s economic systems. The pain is being felt everywhere. Europe is in recession, China is experiencing hyper inflation, Russia and Brazil’s economies are faltering.

This debt is a time bomb and the pain is everywhere and the only answer the so-called experts have is to find ways to increase the availability of money to the consumer to continue to encourage them to spend. Just recently Treasury Secretary Paulson suggested a shift in the bailout funds.

Now they will not focus on buying non-performing mortgages, but instead they will use the TARP (Troubled Asset Relief Program) to extend easy credit to consumers. What?!

Isn’t this the EXACT problem that caused this mess in the first place? America is leveraged, fully leveraged! Our government, our people, our businesses are fully leveraged and we can’t borrower or spend our way out of this mess.

In this season of Thanks Giving, we need to embrace the gift that has been given us by the recent political environment. Whether you agree with the winner of the election or not is not important. The message that was sent is.

The message was that it is time for CHANGE. While many people did not know what kind of change was needed or even what kind of change they voted for, they knew something had to change.

I humbly submit to you that I know what change is needed. A change is required in the way that we see and use debt, both as individuals and as a nation. The most patriotic thing we can do as citizens is change.

How can we change? Stop borrowing, start paying off debt. Find every way possible to pay off debt and change the way we live our lives.

This may sound funny coming from a mortgage guy. I agree, but I’ve changed. I’ve put my money where my mouth is. I’ve invested $3,500 of my own hard earned money in a program that will help me manage and reduce my debt!

This program is not right for everyone. If you have a great income and all you have is debt on your primary home, then changing over to a 15 year mortgage and making extra payments every month may be enough.

However, if you are like me and you have multiple homes (a primary and two investment properties) and you have business debt (approx. $20,000) then this may be an answer for you. Under by current debt structure I will be debt free in about 40 years. I would be 85 years old!

I will be debt free in 18 years instead of 40 years! If I can earn more money I will be done even sooner. Just an additional $2,000 per month income will lower my ‘finish’ date to 7.5 years.
If I can do this, I will be 53 and debt free! I will save hundreds of thousands of dollars in interest payments. I will change my life!

Will you?

Even if you don’t own a home but you are $20,000, $30,000 even up to $80,000 in credit card debt, or school debt or automobile debt. I can help.

Those of you who know me and trust my advice know that I don’t promote my ideas lightly. I have advised people who don’t need a mortgage not to change. I have helped others consolidate debt to take the savings and invest or apply the payment savings to further reduce debt.

I truly believe that debt can be used responsibly but we must get out of debt immediately. Now I have a way to help my client further. I can help you get out of debt faster.

If you won a home and have -0- discretionary income and can’t save a dime, we can use your home to consolidate your debt and create payment savings (discretionary income) and then show you how our unique software can help you be debt free by cutting that new mortgage payoff time by 1/3 to 1/2!

It’s time for a change! Give me a call and let’s see if the time is right for you.

Michael Gross, President, Dividend America Mortgage
Contact me at 770-350-7373 or mgross@dividendamerica.com