The 5 Way's to CASH in on the FED RATE CUT you NEED to know-

The Fed’s change in policy last week has opened new doors for consumers to begin thinking once again on lowering there monthly expenditures. Here are some ways that you can take advantage.

1. Watch the market for lower mortgage rates. The Fed’s cut should provide relief for adjustable rate mortgages. Those of you with loans that are due to “reset” will benefit the most.

2. Switch to a fixed-rate mortgage. Consider this market crisis a blessing in disguise. Thirty year fixed rate mortgages should be on a decline over the next eight weeks.

3. Consider a Home Equity Line of Credit. This is a great time to take out what I like to call a “Mortgage Insurance Policy”. You will see lower rates on these lines within the next three months. HELOC’S are tied to the Prime Rate and while that’s on the decline, so will be the HELOC rates.

4. Switch Credit Cards. Shopping around in this instance may be to your benefit. Take advantage of the cheaper borrowing rates the banks are able to get and see if a balance transfer would help your overall cash flow.

5. Last but not least…Keep Saving!! Money Marketing accounts and time deposits are paying handsomely. Pay yourself first!!!

Remember, wealth is created by buying low and selling high.

I hope these tips will benefit you through the end of the year. Please feel free to call if you would like to discuss many more money saving mortgage options.

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