Lou Tice and Goals

Lou Tice at the Pacific Institute is a great business leader and motivator…this is what he says about Goals in his encouragement today…

In order to move ahead, to reach goals that we have set for ourselves, we need to make the future picture of what we want more inviting, more attractive, more necessary than staying in our current reality. This is easier than it sounds, because of two things innate in human beings. We have the ability to use “forethought” – looking forward – and to use our imaginations. In other words, we can look ahead and dream of a future. As far as we know, no other creature on earth has these two abilities.

When we set a goal, and create that gap I mentioned yesterday, energy and creativity are unleashed in our minds. Those dreams of the future cause ideas and drive to close the gap – and we are tremendously creative creatures! We can dream of just about anything, and make those dreams reality.

One more piece: As we near completion of the goal or dream, we no longer need the energy and creativity. Drive and ideas disappear. We have closed the gap, and creativity is no longer needed. Effectively, you shut down. You’re done. You compare where you wanted to be with where you have landed, and it is the same place, the same answer.

Goal achievement is a time for a little celebration! Each of us deserves a little pat on the back for a job well done. But keep in mind that we now shut down, and future growth is put on hold.

Bank of America Announcement

Just read this in the Wall Street Journal…this is news for all, as the B of A is BIG.

News Alert
from The Wall Street Journal
Bank of America has told U.S. regulators that it is willing to retreat from some parts of the country if its financial problems deepen.
Executives at the financial giant put the potential move on a list of emergency scenarios submitted to the Federal Reserve last year.
While people close to Bank of America insist that no retreat is imminent, even the possibility of selling branches and losing customers it spent huge sums to lure underscores the depth of its problems

What is a Jumbo Loan? Can we make them? Yes!

A Jumbo Loan is a mortgage with a loan amount exceeding the conforming loan  limits set by the Office of Federal Housing Enterprise Oversight (OFHEO), and  therefore, not eligible to be purchased, guaranteed or securitized by  Fannie Mae or Freddie Mac. OFHEO sets the conforming loan limit size on an  annual basis.
Also referred to as “Jumbo Mortgage”.

Jumbo loans are often  securitized by institutions other than Fannie Mae or Freddie Mac. These  securities carry more credit risk than those issued by Fannie Mae or Freddie  Mac, and therefore, trade at a yield premium which translates into slightly higher interest rates. However, in  recent years the spread in interest rates between jumbo and conventional  mortgages has been reduced.

Depending on where you are in California, the highest conforming loan limit is $729,750….which means a loan higher than this would fall into the Jumbo loan category.

At Ocean Pacific Capital, we do Jumbo loans up to $2 million, and the rate today is as low as 3.75%. For those of you that have an existing mortgage that is at a higher interest rate than this might consider re-financing, and a new Jumbo loan might work. E-mail me with details and we can see what is best for you.