Boom Arm
Boom Arm
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The Next Great Mortgage Boom, are you Ready?
First there was the refinance boom--historic super low rates where every loan was a vanilla slam dunk. Quick and easy cash and the loans sailed through unscathed.
Then came the regular ARMs--because rates were rising and people still wanted those low “bragging rights” rates. They simply had to have a rate below 5% so they could one-up the Joneses at the next BBQ and prove how smart they were.
Next were the 4-payment plan loans and option ARMs--because people wanted flexibility and needed to keep their monthly payments low but still wanted the big house. Who cares if these were possibly indexed to a foreign exchange (The LIBOR) and extremely volatile?! With a choice of four payments every month what could go wrong?
Then there were the interest-only loans which became very popular--heck the rich and famous have known about these for years. They only pay interest and invest the extra equity in the stock market instead of paying the principal money to the bank. It’s the ultimate leverage. But the interest-only loans came with a dark side--negative amortization. People didn’t exactly know what they were getting themselves into. They wanted to play fund manager and, of course, they wanted low monthly payments. Little did they realize they might find themselves hanging up-side down with negative equity at the time of sale.
Silently, the reverse mortgages trickled in--because rates were rising, oil prices went up, inflation increased costs, and seniors couldn’t afford their medication. With their house being the only thing they had left, people figured if I got it, why not spend it? The nursing home would just try to get their grubby hands on it anyway. Hell no to that!
Next came the “cut off your ARM despite your rate” crowd and the panic of a volatile economy. “You better get into a fixed rate before it’s too late”, being their mantra. That’s where we are today since many of the early ARM’s from 3 to 7 years ago are now coming due. It’s funny, you’ll hear these ads all over the radio, trying to get people to convert. Some even use scare tactics with amusing roller coaster sounds and racks being stretched in the background. How creative!
The next great mortgage boom, I predict, will be the fixed 40 and 50 year mortgage. Many of you who I’ve spoken to on the phone and through email, have said the very same thing.
Look for more mortgage innovation to come as rates continue to rise. With inflated pricing in the housing market, longer fixed loans are the only way to keep rates low enough for many people to qualify for a home. Not to mention that people seem to like the idea of having a fixed payment per month versus any of the ARM options.
Keep in mind that many borrowers never intend to stay in the property for the full term of the loan, and will probably sell long before. Heck, a 70 year old taking out a 50 year mortgage won’t even be alive by then! He’ll be 120 years old! But the lenders don’t care as long as he pays his bills.
Currently, there are only a few lenders offering loans with these terms, but be on the look out for many more to come. Mortgage lenders have always been creative with their financing and keeping interest rates low (no matter what the term) is a great benefit for consumers. It helps get people into homes and that’s what counts. Keeping the real estate market liquid is crucial to the economy and lenders know this!
As a broker, branch manager or loan officer, if you want to survive in this competitive and cutthroat market, you’ve got to be aware of what’s in store. My advice is to focus on the ARM conversions for now but keep an eye out for the 40 and 50 year fixed loans arriving everywhere shortly. Only then will you be in a position to capitalize on the next great mortgage boom.
About the Author
Rob Lawrence is ranked one of top national trainers in the mortgage industry. He is the currently the CEO of Battlecall.com, coaching, tools and resources to turn mortgage professionals into mortgage warriors. Visit http://www.battlecall.com for his free “Sink Or Swim” weekly newsletter, mortgage training, marketing advice and more! Jumpstart your career in the mortgage business, starting today.
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Boom Coat of Arms Mug / Family Crest 11 ounce cup Sale Price: $15.99 |
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Boom Family Crest Mug / Coat of Arms 11 ounce coffee cup. Your daily coffee will taste so much better when it comes from this cup! |
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Boom Family Crest Stein / Coat of Arms beer mug Sale Price: $22.99 |
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Boom Coat of Arms stein / Family Crest beer mug . Your family shield is printed on a high quality 7 inch, 22 oz. ceramic german beer mug / tankard. |
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Booms Family Crest Stein / Booms Coat of Arms Stein Sale Price: $22.88 |
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Booms Coat of Arms Stein / Booms Family Crest Beer Mug. Your family shield is printed on a high quality 16 oz. ceramic german beer mug / tankard stein. |
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The Boys Are Back (with Bonus CD) Sale Price: $44.95 |
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Includes bonus disc with 5 bonus tracks! The Boys Are Back...back wtih an all-new album...back to the traditional-four part harmonies on which they were founded...back to the "rootsy" recording styles of the outlaw music days on the Row... |
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A Call To Arms Sale Price: $0.99 |
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Post War U.S.A. [VHS] Sale Price: $2.00 Used From: $0.18 |
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The rise of the consumer society, the baby boom, the arms race, the Red Scare and McCarthyism, and more! ©1996, color, 35 minutes, Middle School/High School. |
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SE Table Magnifier Lamp - 5X - Fluorescent Light (Black) List Price: $24.95 Sale Price: $13.50 Used From: $15.08 |
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This lamp is a terrific accessory for the craftsman, hobbyist, mechanic and jeweler. It puts shadow-free lighting around a 3½ in. diameter, 5 power lens to let you see small parts and fine details, and is excellent for precision work... |
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ProAm® DVC200 Camera Jib Crane with 4' Extension (12' Total Length) Sale Price: $399.00 |
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There's nothing quite like a sweeping crane shot that captures an audience's attention. For years, these shots have been reserved for large budget film studios. But thanks to ProAm virtually inventing the mid-size crane market, low to no-budget filmmakers can record breathtaking scenes with easy to use and best-selling ProAm DVC250 Camera Crane / Jib... |
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Indy Jib 12 Ft Camera Crane Jib Boom w/ Crane Stand - No Tripod Necessary Sale Price: $499.00 |
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Indy jib camera cranes feature the best quality at the best price. If you're looking to achieve that "floating camera" shot that is littered in every motion picture today, then choose Indy Jib. Independent film makers can set apart your film from the rest of the crowd... |
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Heavy Pro-Capitalist Profiteering Rhetoric - Why Kill the Goose: The Profit System DVD (1955) List Price: $12.99 Sale Price: $9.99 |
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This 1950s pro-America film expounds on the virtues of the free market system and capitalism. It goes into how profits, even if small, lead to research and new designs, which yield increased productivity for American industry, which in turn brings in higher profits... |
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Gibraltar Cymbal Boom Arm $19.99 Gibraltar Cymbal Boom Arm |
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Audix MICROBOOM-84 Boom Arm $349 Audix MICROBOOM-84 Boom Arm |
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Audix MICROBOOM-50 Boom Arm $249 Audix MICROBOOM-50 Boom Arm |
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Mapex B74 Boom Arm $40.8 Mapex B74 Boom Arm |
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Audix Microboom-84 Boom Arm $349 Audix MICROBOOM-84 Boom Arm |
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Audix Microboom-50 Boom Arm $249 Audix MICROBOOM-50 Boom Arm |
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Used Boom Arm $10.99 In Store Used USED BOOM ARM |
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Used Gibralter Boom Arm $19.99 In Store Used USED GIBRALTER BOOM ARM |
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K&M Microphone Stand with Boom Arm $59.99 K&M Microphone Stand with Boom Arm |
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Yamaha Medium Boom Stand Arm $42.99 Yamaha Medium Boom Stand Arm |
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Gibraltar Ultra Adjust Boom Arm $52.19 Gibraltar Ultra Adjust Boom Arm |
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Gibraltar Boom Cowbell Arm SP $39.99 Gibraltar Boom Cowbell Arm SP |
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PDP PDAX934S Cymbal Boom Arm $37.99 PDP PDAX934S Cymbal Boom Arm |
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PDP PDAX934 Cymbal Boom Arm $37.99 PDP PDAX934 Cymbal Boom Arm |
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Meinl Cymbal Boom Arm with Multiclamp $41.99 Meinl Cymbal Boom Arm with Multiclamp |
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Gibraltar Short Mic Boom Arm $24.99 Gibraltar Short Mic Boom Arm |
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Gibraltar Mini Cymbal Boom Arm $24.99 Gibraltar Mini Cymbal Boom Arm |
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Gibraltar Boom Cowbell Arm Sp $39.99 Gibraltar Boom Cowbell Arm SP |
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Pdp Pdax934 Cymbal Boom Arm $37.99 PDP PDAX934 Cymbal Boom Arm |
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Pdp Pdax934s Cymbal Boom Arm $37.99 PDP PDAX934S Cymbal Boom Arm |
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Meinl Cymbal Boom Arm With Multiclamp $41.99 Meinl Cymbal Boom Arm with Multiclamp |
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K&M Microphone Stand With Boom Arm $59.99 K&M Microphone Stand with Boom Arm |
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US $20.00




















![Post War U.S.A. [VHS]](http://ecx.images-amazon.com/images/I/51f6zx4GCgL._SL160_.jpg)



