August has come and gone. Say goodbye to the warm weather in most parts, hello to fall, and …. are you ready for some FOOTBALL. (Glass can always be half full!)
Newbies to our writings, we do this monthly and even include a video for an extra personal touch. Each month we strive to bring you a neat Financial Planning tip that may help you save or earn, this months is once again directly from the trenches. … So let’s get started.
Financial Planning Tip of the Month:
Get rid of that PMI Insurance
Now that housing prices have come back, if you happen to have PMI insurance, there is a way to rid yourself of this expense.
Once your loan to value is better than 80%, try the following:
- Call your mortgage company and ask them how to remove your PMI insurance premium
- They will most likely ask you for an appraisal of some type (do not order this appraisal directly, your lender will most likely do this for you)
- Complete the appraisal and the necessary forms from your mortgage
- Return the documents to your mortgage company and tadaa .. you will have a lower payment without the afore mentioned PMI insurance premium
That’s it … with many more fun planning tips to come ..thanks to those in the trenches with great questions !
OH NO … Interest Rate Talk AGAIN … Yep ! Sorry
This eloquently said from Bloomberg View, by Mohamed A. El-Erian, Allianz SE Economic Advisor:
…Bond investors tend to be more risk averse than equity investors, and thus reposition earlier in response to a higher probability of a market selloff. This is in part because they are more focused on the macroeconomic picture, and in part because bonds have a different risk-reward profile: They ultimately pay only their face value, whereas stocks can keep going up.….
In English … Lower bond yields warrant special attention … We have LOWER yields. We plan on digging deeper into this next month, but for now .. Attention is very warranted.
Special Goodbye to Robin Williams
Depression hits most at least once in their life. If you know someone who may be on the edge, take the cue from one of the funniest person’s ever and get them help. Mr. Williams you will be missed nano nano !
That’s the August 2014 Review,
Thanks for reading/Listening/Watching
Have a Great Day!
John A. Kvale CFA, CFP
8222 Douglas Ave # 590
Dallas, TX 75225