Kensington, MD (PRWEB) October 6, 2010
Across the board, homeowners seem to have little to no understanding of the power of leveraging their mortgages, says Samuel N. Asare, a senior financial strategist with the DC-area Laser Financial Group, LC., and the author of a new book, "Savvy Strategies for Turning Your Mortgage into a Goldmine."
“The majority of homeowners are managing their mortgages based on principles that have long become obsolete and are completely wrong,” says Asare. For instance, unlike during the Depression era, mortgage loans are no longer callable, as long as a homeowner makes their monthly payments. Most homeowners, however, aren’t aware of this and are accelerating the payoff of their loans for that very reason.
An interesting observation is that renters are often strongly admonished to purchase due to the associated tax benefit. Why, then, do homeowners immediately become convinced that it’s important to eliminate their mortgages quickly? “How many homeowners understand that even a paid-off mortgage does not necessarily eliminate their risk of foreclosure, because they still must pay property taxes throughout the life of their homes?” questions Asare.
Asare’s free, quick-read book presents interesting facts in an easy-to-understand format with real-life applications to help readers consider all the variables involved in successfully managing their homeownerships. Laser Financial Group welcomes requests from individuals and organizations interested in securing copies of the book as a free educational resource.
Asare has also authored 5 Mistakes Your Financial Advisor is Making, as well as, Is Your 401K a Trap?
About Samuel N. Asare:
A senior financial strategist with Laser Financial Group (http://www.LaserFG.com), Asare is the creator of the “Common-Sense Wealth Building Series,” and a regular columnist and commentator for various trade, professional and regional publications.
He holds an MBA and is a Chartered Retirement Planning Counselor (CRPC), a Charted Mutual Fund Counselor (CMFC), a Certified Treasury Professional (CTP), and a Certified Business Manager (CBM).