Keeping the family together after foreclosure

The weak economy and financial crisis this country has experienced has caused roughly four million American families to lose their homes to foreclosure according to some recent statistics.  The stress of foreclosure changes and significantly impacts families and can often leave  them in a state of crisis.  Historically, certain events such as job loss, illness, accident or divorce triggered foreclosure, now it has been spurred on by a weak economy,  bad loans, declining property values, and a global recession.  More and more Americans from all different economic classes have found themselves in this situation.  Chances are you probably know at least one family who has been affected by a foreclosure crisis.

Foreclosure may mean the end of your house but it does not have to mean the end of your family.  Some families will strengthen their bond in a time of crisis.  Here are a few things that you can do to ensure that your family survives the foreclosure process.

• Grieve your loss.  A house is a home and not just shelter, it’s a place of security where family memories are made.
• Avoid the blame game.  It’s okay to be sad but don’t allow it to fester and become anger.  Decide to work on a new game plan together..
• Keep the children’s school & activities the same if possible.  Children need continuity and routine.  If at all possible keep them in the same school and with the same friends.  If that’s not an option arrange for play dates with their friends.
• Should we go public and how public.  Discuss with your spouse what needs to be said and who needs to know.  This is a very difficult time for some people so please respect your spouse’s need for privacy.
• Regroup.  Rent for a while and rework your finances.  Give yourself at least a year to regroup emotionally and financially.  Work as a team and make saving a new habit and family goal.

Foreclosure can set you back but it doesn’t have to mean the end for your family.  Learn from your mistakes, set some realistic economic goals and move on.

See Lea Haben discussing this topic, How to survive foreclosure as a family, on Good Morning Arizona on KTVK Channel 3 with Javier Soto.

Staying Positive in Today’s Uncertainty

You have heard the old adage that attitude is everything.  According to Harvard and Stanford Universities it seems to be true.   Statistics show 85% of the reason a person gets a job and gets ahead in her career is due to attitude while only 15% is attributed to special skills or technical abilities.  It’s amazing when you think of all the money people pour into their education and how little is spent on building happy and positive attitudes.

Food for thought; with the right attitude you can develop the necessary skills to not only survive, but thrive during today’s rough economic climate.  In today’s world we are drowning in a sea of negativity instead of developing and maintaining a positive can do attitude.   Flip your attitude switch today and you will be amazed at the things that will show up in your world.

Here are a few tips to help you maintain your positive outlook.

• Understand that failure is a verb and not a noun.   A person may fail at times, we all do, but that does not make you a failure.  Adopt the attitude of a winner, surround yourself with people who win, play to win, and plan on winning!   You won’t win every time but you will find yourself on top most of the time.

• Adopt an attitude of learning and a positive, “can do” attitude.  Do things that will continue to move you forward.  Be honest with yourself about your shortcomings and try to work on them. Adopt an attitude of learning, continue to read and try new things.   Keeping your mind sharp will keep you young.

• Take stock of the people in your life and those who bring joy into your life and those who are a drain.  Do you enjoy the people you work with?

Life is too short to spend time with people that don’t make you happy.  Ever notice how some people are a joy and effortless to be with and how others can suck the life out of you with just a few words?  Make a note of the people you enjoy and admire most and emulate them.  Avoid the dream stealers and the people who enjoy misery.  Negativity is contagious so avoid it whenever possible.  Remember every day is a choice and your attitude will determine your altitude.

When is the Right Time to Buy Life Insurance?

Everyone knows when they need to purchase auto, home or health insurance. But how do you know if, or when, you need life insurance? It’s simple, just ask yourself: “If I died tomorrow, would I leave anyone with a financial burden?” If the answer is “Yes,” it’s time to look for a plan that will provide you with peace of mind, knowing that your debts or loved ones will be taken care of in the event of your death.

It is important to understand the different types of life insurance in order to select the type of coverage that best meets your needs. Life insurance can be more than just providing a death benefit, some types can also be a source of retirement income, fund a child’s education or a source of cash in an emergency.

If you have life insurance, it’s important to regularly review your coverage to ensure that it continues to meet your needs as part of your overall financial planning. According to a recent study by Life Insurance and Market Research Association (LIMRA), 48 million households believe they do not have enough life insurance coverage.

The internet can be a great place to start gathering information about life insurance products available and their cost. However, utilizing a Web-based insurance brokerage website to make a final purchasing decision often leads to lower customer satisfaction.

According to a 2009 survey by Beall Research & Training, Inc., 62 percent of respondents bought their insurance through an agent and were significantly more satisfied than those who purchased online in regard to how easy it was to understand their options and to choose a plan that gave them the best coverage tailored to their needs.

There are many things to consider when choosing life insurance and a knowledgeable, licensed agent can work with you to select a plan that fits your needs and budget. A good insurance agent should be an expert at what they do, dedicated to helping you find the right products for you, and be able to help you understand not just the questions you have but to educate you to know what questions to ask. The right time to buy life insurance is when you’ve asked yourself those questions and know it’s time to protect the ones you love.

 

Budgeting and Saving Tips that will Prepare Women for the Future

It is essential for women, now more than ever, to stay knowledgeable of their financial situation. I am a firm believer in empowering women to achieve personal and financial success, and one of the first steps on that path is to know how to manage your income and properly save.

The good news is that technological advances and hundreds of free resources are available to assist with creating a budget, cutting down on debt and developing a savings plan. Here are my five smart tips to successfully save money:

• Create a Budget. Developing an easy-to-follow plan to manage your budget can be easily accomplished, but first you must review your net income, which is the money you have available after taxes. Next, know your expenses and always include savings as one of those expenses. After determining net income and expenses, you are ready to set a personal budget. National Bank of Arizona has a free tool, EZ Budget, that will assist you through this process, which is available on www.nbarizona.com.

 

• Plan to Save. As mentioned above, it is essential to incorporate savings into your expenses to ensure you are preparing for the future. Instead of having one savings account like so many have, try opening several accounts and categorizing them. Examples may include retirement, vacation, Christmas and college education. When depositing into these accounts, utilize a savings calculator to give you an idea of how quickly you will reach your goal. National Bank of Arizona has this tool available on www.nbarizona.com.

 

Also, sign up for direct deposit through your employer. This way you can choose to have a specific dollar amount or percentage of each check deposited directly into a savings account. For those without direct deposit, most banks allow you to set up a monthly automatic transfer between linked checking and savings accounts.

• Know your Credit Score. One of the biggest mistakes women make with finances is not regularly checking their credit scores. Making sure your credit score, or FICO score, is high and accurate is important because it can determine what you pay for auto financing and leasing, credit cards, mortgages and insurance. It can even affect whether or not you get a job or rent an apartment.

If you don’t have a recent credit report, order one. Make sure you take responsibility for creating your own personal credit history by reviewing your credit report regularly and checking for errors, limit the number of credit cards you open and most importantly – pay your bills on time.

 

• Cut Credit Card Debt. Stop using credit cards to prevent incurring additional debt. Next, review your credit card balances and make at least the minimum payment on every credit card each month. Additional money should go toward paying off the card with the highest interest rate. After the first card is paid off, use the money that was being paid toward that card to pay off the card with the next highest rate. Always know what you are paying; new laws require more clarification on how your payment is being applied, whether it’s toward interest, fees or principal.

 

• Utilize Online Banking. Online banking allows the luxury of having access to your accounts 24 hours a day and can help preserve your credit rating. This allows you to review account activity and monitor the account for cleared checks, which will help reduce overdraft fees. Setup automatic bill pay through online accounts to ensure that you won’t incur penalties for forgetting to send in payment. Many banks, including National Bank of Arizona, have online resource centers with tools available at no cost, including financial calculators, economic newsletters, budget applications, online bill pay and online security tools and applications.

 

MMG Weekly: Watch out for the big topics of housing, inflation and employment!

Last Week in Review : The Fed remains optimistic but vague, despite concerns and anticipation in the markets!Forecast for the Week : Watch out for the big topics of housing, inflation and employment View : Increase your intelligence and stay mentally active with these 3 tips!

Last Week in Review

“ I’m goin’ to Jackson. See if I care .” - Johnny Cash. Last week, Fed Chair Ben Bernanke headed to Jackson Hole, Wyoming…and the markets certainly cared! The big news of the week was Bernanke’s speech at the Federal Reserve Bank of Kansas City Economic Symposium at Jackson Hole. Here’s what happened – and, more importantly, what it means to Bonds and home loan rates.Bernanke Remains Optimistic. Bernanke focused on the near-term and long-term economic situation, but his message was optimistic, stating that regardless of “the crisis and the recession, the U.S. economy remains the largest in the world.” He stated that the Fed expects “a moderate recovery” to continue and even strengthen as the country goes forward. Easy on the talk of “Easing.” Despite the market’s concerns over the slowing economic recovery, Bernanke didn’t discuss any details about the measures that the Fed may use to help get the recovery back on track – which means there was no mention of a third round of Quantitative Easing (QE3). Instead, he stated that the Fed would continue to consider such options at its upcoming September meeting. He did, however, re-iterate that “The Fed has a range of tools that could be used to provide additional monetary stimulus.” Additionally, he ended his speech by saying: “The Federal Reserve will certainly do all that it can to help restore high rates of growth and employment in a context of price stability.” Right back where we started. It’s interesting to note that last year when Bernanke spoke at Jackson Hole he talked about the likelihood of QE2. That speech sent both the Bond and Stock markets into a rally mode. Amazingly, the Stock market is very close to levels seen last August, which means that Stocks have given up virtually all of the gains seen from the enormous rally sparked by QE2. Anticipation and disappointment. Stocks traded higher early last week in anticipation of Fed Chairman Ben Bernanke’s big speech on Friday at Jackson Hole, Wyoming. With the economy slumping and Stock prices falling in recent weeks, there was a growing feeling that the Fed is willing do something that would signal to the markets that they are willing to help more if needed. After Bernanke’s speech – and his reluctance to discuss QE3 – Stocks dropped slightly, signaling investor’s disappointment in having to wait longer to see what steps the Fed may take. By late Friday, however, volatility reared its head again, as Stocks attempted to rally and Bonds gave up some of their gains. With the Fed pushing off any meaningful discussion of its policies and options until the September meeting, this story is sure to continue impacting the markets. Until we hear exactly what the Fed will do, the markets will be forced to speculate and anticipate…which could mean more volatility. For now, the situation looks beneficial for people looking to purchase a home or refinance, as home loan rates remain near historic lows. But things can change quickly, so now is the time to take a look at the options available.

Forecast for the Week

This week heats up again with the big topics of housing, inflation and employment taking center stage: The week starts off Monday morning with reports on Personal Spending and Personal Income, as well as Pending Home Sales. On Monday, we’ll also see the Personal Consumption Expenditures (PCE) Index, which is the Fed’s favorite gauge of inflation. Remember, inflation is the archenemy of Bonds and home loan rates, so this will be an important report to watch. Manufacturing reports will also hit this week. On Wednesday, we’ll see the Chicago PMI, which reports on manufacturing in Chicago and is a good indicator of overall economic activity. Then on Thursday, we’ll see the ISM Index, which is the king of all manufacturing indices and is considered the single best snapshot of the factory sector. The big topic of the week will be employment. First up is the ADP National Employment Report on Wednesday, which measures non-farm private employment, followed by another round of Initial Jobless Claims on Thursday. In last week’s report, Initial Jobless Claims were reported higher than expected. This leading indicator of the labor market shows us that things remain weak. Finally, the busy week culminates with the highly anticipated monthly Jobs Report on Friday. This report features new data regarding job growth and the unemployment rate – needless to say, this report can be a big market mover! Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As you can see in the chart below, the markets have continued their volatility. But Bonds and Home loan rates were able to finish the week strong. That means that home loan rates are still at some of the most attractive levels we’ve seen in history. If you know someone in considering purchasing a home or refinancing, it’s an ideal time for them to review their options and see how they can benefit. All they have to do is call or email me to get started. Chart: Fannie Mae 3.5% Mortgage Bond (Friday Aug 26, 2011)

The Mortgage Market Guide View…

3 Tips for Increasing IntelligenceWebster’s Dictionary defines intelligence as the ability to learn and understand, or to deal with new or trying situations. Simply put, it’s the degree of one’s mental sharpness. It’s easy to believe that your intelligence is set, meaning there’s no way to “boost” your brainpower. However, many scientific studies have proven the exact opposite. A combination of lifestyle adjustments and mental exercises has been shown to not only increase intelligence, but also to improve general brain health and help prevent disorders associated with aging, such as Alzheimer’s disease. According to most neurologists, the key is to stay mentally active, despite your age. The following five tips will help boost your mental activity and increase your intelligence. Get Some Sleep - An adequate amount of restful sleep is an important component of brain function. While scientists argue over its effect on memory and learning, restful sleep provides energy as well as the ability to focus. Both are vital factors in achieving mental stimulation. Some studies have also shown the reverse to be true. More mental stimulation during the day equals better sleep at night. Increase Your Exercise - Exercise brings oxygen-rich blood to the brain, an important component to overall brain health. Exercise also regulates blood sugar levels. Some recent studies have shown a correlation between impaired glucose tolerance and an undersized hippocampus, the portion of the brain that controls the conversion of short-term memory into long-term. In addition, forms of exercise such as aerobics, dance, and martial arts all require memorization and are great for promoting mental stimulation. They also help to develop the rhythm and timing circuitry that runs through multiple regions of the brain. Play Games - Crossword puzzles, Sudoku, certain board games, and card games are great for mental stimulation. Each of them will exercise various brain functions such as lexical recall (memory for words that name things), attention, memory, logic, and pattern recognition. They are accessible to almost everyone, and some only require one player. The key here is that as you advance in skill, you should seek out harder, more challenging versions.

Women: Achieving Financial Peace Throughout Retirement

Women can take steps to ensure a higher likelihood of reaching financial peace throughout their retirement years.  Unfortunately, for many women the deck is stacked against them. A review of the typical obstacles and potential solutions can greatly improve the probability of success.

Lower pay, increased longevity, lower financial risk tolerance and lack of acceptable resources contribute to a lower expectancy of financial success.  Some obstacles are easily changed while others persist.  Lower income levels are typically out of the woman’s direct control today; let’s address choices women can take now which will increase the likelihood of financial peace.

Women typically live longer.  Most would consider this a blessing, provided the extended time is lived in a healthy and happy environment.  The blessing of a longer life creates the need for greater resources.  The most obvious cost is the financial burden of funding more years.  Additional costs include the likelihood of higher medical expenses and the potential need of assistance in later years.  The costs of increased longevity are an obstacle that can and should be addressed today.  This concern is easily addressed when creating a financial plan.  A financial plan with the proper life expectancy –typically into her nineties – will calculate the likelihood of running out of money. With this knowledge, choices can be made which increase the likelihood of success.

Men tend to be more aggressive in all areas of life; which can be a curse or benefit.  Aggressive financial behavior often translates to a higher equity (stock) allocation which over a long time horizon has historically increased the value of retirement assets.  Financial aggression is a curse when the drive to win overshadows proven investment philosophy.   Understanding when to be aggressive and when to be conservative is a difficult balance.  Basing financial decisions on financial goals rather than emotions or assumptions contribute to a higher probability of a successful outcome.

Seeking guidance from trusted financial resources is a solution that can be implemented immediately with positive results.  The operative word in the previous sentence is trusted.  Studies show women feel slighted, ignored or “sold to” when dealing with financial professionals.  Historically, the financial services profession has been male dominated and sales based.  Both biases are changing.  The shift towards financial planning – which is holistic in nature – will help women understand their financial position and feel better served in the process.  Although the media tends to focus on the likes of Bernie Madoff, there are many trusted financial professionals with the woman’s best interest at heart.

A woman’s potential for success and the choices available are specific to her needs and wants.  There is no magic solution. However, an increased understanding of her current situation and knowledge of the steps needed to achieve success will minimize the potential shortfall.   Take action today to ensure the best chance of enjoying financial freedom throughout retirement years.

Ignore Components of Divorce at your own Risk!

In most divorce cases, there are three (four if there are children involved) components addressed as divorcing couples find a resolution they can both live with. The pieces include legal, emotional, financial and co-parenting (if applicable). Often the areas with the shortest lifespan gain the most attention, while the areas with the greatest potential for negative consequences are ignored or assumed addressed by professionals working outside their area of expertise. This is a mistake with potential long lasting consequences.

The initial filing and the final signing of the decree often mark the beginning and end of the legal process. Whether self-representing with the help of a support group or completing the legal piece with a legal advocate, most couples gain professional assistance with this portion of their divorce. The legal pieces of the divorce puzzle ends (hopefully) with the signing of the decree. The legal component has a finite life (again, hopefully).

The emotional piece of the divorce puzzle may be the most important aspect of divorce. People tend to make bad decisions in an emotional state. Fear, greed, anger, betrayal and many other emotions are common place during the divorce process. Making decisions while in an emotional state provides opportunity for negative consequences as the couple enters post divorce life. Most divorce participants seek support in this area. Whether from qualified professionals, friends, family, support groups or religious organizations, divorce participants typically gain support. Time may not heal all wounds, but it arguably dampens them.

Financial decisions are often based on emotions and made without an understanding of long term consequences for one or both participants. The financial goal of divorce should be to provide a solution in which BOTH participants move forward during their post divorce life (from a financial perspective). A financial divorce plan allows the couple to review the expected (based on assumptions) outcome of their proposed settlement. This plan addresses the typical questions of “will I have enough money to live?” and the opposing question “why am I paying this amount?” Understanding the expected outcome provides peace of mind for both participants. The benefit of this knowledge provides a lower likelihood of returning to court (or other option) post divorce – for financial reasons. Another benefit includes shortening the overall process as many divorce proceedings are extended (increasing the cost) while couples “fight” over what they “deserve” or are “entitled to”. Unfortunately, time does not dampen bad financial decisions; time tends to increase the costs of bad decisions.

When children are involved, couples will create a co-parenting plan. The plan should include input from the children when applicable (which is most of the time). The couple may create a plan based on what is best for them, rather than what is best for the family in whole (with an emphasis on the children). Monday and Tuesday at dad’s, Wednesday and Thursday at moms with alternating weekends (insert other proposals) may sound reasonable for the adults, but may not be what is best for the children. When children are involved, the couple will be a family for a lifetime. The decisions made during the divorce process will determine the couple’s post divorce relationship and help shape the child’s life. Co-parenting plans need to address so much more than just which days are spent at which residence. Bad decisions can create negative outcomes for not only the couple’s lifetime, but the children’s as well.

It is crucial that couples understand how decisions made today will set the stage for their life – post divorce. Unfortunately, the decisions with the longest potential impact – money and children – are often given the least amount of time and resources or handed to professionals practicing outside their area of expertise. Both participants in the divorce process should understand each component listed above and any other areas specific to their situation. When the couple addresses all the key components of divorce, the potential for future costs – emotional and financial – are lessened. Ignoring one or more crucial considerations can lead to heavy future costs.

Mortgage Market Guide Weekly – 6/21/11

For the week of Jun 20, 2011 — Vol. 9, Issue 25

“Greece is the word.”Last week, both renewed problems in Greece and inflation news dominated the headlines and made for some volatile trading. What happened, and what was the impact on home loan rates? Read on for details.In Greece, the riots continued as people protested further pay cuts and tax increases to help close their unsustainable budget deficit. Then on Friday, Greece announced some reshuffling within their Parliament and it also appears as though the country will receive some sort of bailout to meet near-term financing needs. With 20,000+ people rioting in the streets, the government had to do something to calm the markets, but the Greece story is far from over. Shaking up the Parliament won’t fix the long-term debt problems, nor is it likely that a short-term bailout, if it happens, will help Greece avoid some sort of debt restructuring, re-profiling or outright default. One impact of the volatility in Greece is that it has caused some flight to safety buying of US Dollar denominated securities like Treasuries and Mortgage Backed Securities, upon which home loan rates are based. This helped Bonds and home loan rates last week, which was a good thing, since signs of inflation also heated up last week and Bonds and home loan rates would have likely worsened on that inflation news. Remember, inflation is the arch enemy of Bonds and home loan rates, like Kryptonite to Superman, because inflation erodes the value of the fixed return provided by a Bond, which causes home loan rates to rise. And last week, both the Producer Price Index (which measures inflation at the wholesale level) and the Consumer Price Index (CPI) were both reported hotter than expected, with the Core CPI rising by 0.3%, which was the largest monthly increase in three years. While the Fed continues to say that the increase in inflation is transitory (i.e. short in duration, temporary or not persistent), more signs of inflation in the coming weeks and months could hinder Bonds and home loan rates from further improvements. The bottom line is that home loan rates still remain near some of the best levels we’ve seen this year, and it’s important to take advantage of these levels while they remain. If you have been thinking about purchasing or refinancing a home, call or email me to learn more about why now is a great time to benefit from today’s historically low rates. Or forward this newsletter on to someone you know who may benefit.

Mortgage Market Weekly Guide – 6/13/2011

For the week of Jun 13, 2011 — Vol. 9, Issue 24

Last Week in Review

They say “actions speak louder than words.” But last week, words had a big impact on the market, especially those by Fed Chairman Ben Bernanke. What did he say, and what was the impact on home loan rates? Read on for details.  Last week, Bernanke essentially made some downbeat and economically depressing comments, saying that “the economy is still producing at levels well below its potential.” Remember that weak or negative economic news and comments normally hurt Stocks and helps Bonds, as investors will move money from Stocks to what they see as safer investments like Bonds (including Mortgage Backed Securities, upon which home loan rates are based). And that’s part of what we saw happen last week: Bonds and home loan rates improved on these negative economic comments, while Stocks weakened. But that’s not all Bernanke said last week. He also spoke about inflation, saying, “FOMC participants currently see the recent increase in inflation as transitory and expect inflation to remain subdued in the medium term.” Why is this significant? Inflation is the arch enemy of Bonds and home loan rates, because it erodes the value of the fixed return provided by a Bond, which causes home loan rates to rise. This means that Bonds, and therefore home loan rates, typically worsen at the first sign of inflation. But Bernanke playing the role of inflation dove last week (an inflation “dove” believes inflation will have a minimal impact on the economy, the opposite of an inflation “hawk”) also helped Bonds and home loan rates improve. So what does this mean for the markets and home loan rates in the short- and long-term? Here’s a visual that will help explain things. Imagine a child playing with a yo-yo riding on an escalator. If Bond prices are the yo-yo, you can see how they would be moving up and down like the action of the yo-yo in the short term. And this is what we are seeing right now: Bond prices and home loan rates are moving day to day in somewhat volatile fashion but continue to move in an improving trend. But just like the child will reach the end of the escalator, Bonds and home loan rates will eventually reach the end of their improving trend… and when they do they will likely worsen quickly, as history attests. The bottom line is that home loan rates still remain near some of the best levels we’ve seen this year, and it’s important to take advantage of these levels while they remain. If you have been thinking about purchasing or refinancing a home, call or email me to learn more about why now is a great time to benefit from today’s historically low rates. Or forward this newsletter on to someone you know who may benefit.

Forecast for the Week

After last week’s quiet economic report calendar, this week’s calendar is jam-packed. Look for: Tuesday’s Retail Sales Report: If sales turn out to be weak, this will add evidence to the belief that our economy is slowing down. And though we want the economy to improve, a weak report could help Bonds and home loan rates. A double dose of inflation news with Tuesday’s Producer Price Index, which measures inflation at the wholesale level, and Wednesday’s Consumer Price Index. Will these reports coincide with Bernanke’s remarks on inflation from last week? Job news with Thursday’s weekly Initial and Continuing Jobless Claims Report. Last week’s Initial Claims came in at 427,000, showing that the job market still has some work to do to get below and stay below – the psychologically significant 400,000 mark once again. Thursday also brings housing news, with reports on both Housing Starts and Building Permits, and manufacturing news with the Philadelphia Fed Index, which is considered an important indicator of the manufacturing industry. Rounding out the week is Friday’s Consumer Sentiment Index. This index is important because the level of consumer sentiment is directly related to the strength of consumer spending, which accounts for two-thirds of the economy. Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve, while strong economic news normally has the opposite result. As you can see in the chart below, Bonds and home loan rates continue to improve, though as discussed above, volatility remains rampant. Give me a call or send me an email if you have any questions at all about your personal situation. ———————– Chart: Fannie Mae 4.0% Mortgage Bond (Friday Jun 10, 2011)

The Mortgage Market Guide View…

Fun Facts – and Activities – for Father’s Day!  Father’s Day is this coming Sunday, June 19, 2011. To help mark the occasion, here are some fun facts and a list of activities that can help you give Dad the gift of family memories. One in a Million? According to the US Census Bureau, there are 70.1 million fathers across the US. Although they all share the experience of fatherhood, each dad is unique. That means, your dad isn’t just one in a million; he’s one in 70.1 million! Want to learn more fun facts about this special holiday for dads, check out the US Census Bureau’s Father’s Day Facts page. Simple, Special, and Inexpensive Activities for Dad Go for a hike – If your dad enjoys nature and relaxing walks, plan a hike on Father’s Day. Whether you make it an easy stroll or a more challenging climb, a hike is a great way to spend some quality time away from the chaos of everyday life. Here are some hiking tips and packing ideas that can make the day as safe as it is fun. Visit a museum or history center – Whether your dad enjoys art or history, you’re sure to find a museum or history center in your area that will fit his interests. Plan the special day as a surprise and be sure to allow plenty of time to let Dad set the pace, so he can take his time. The American Association of Museums offers an online directory of museums near you. Try it today to search by city, state, and even the type of museum you want to visit. Go fish – Take Dad to his favorite fishing spot for the afternoon. Of course, if Dad’s not much of a fisherman, consider pulling out a deck of cards and playing a game of Go Fish with the younger children. Take a few minutes to read the rules to Go Fish, as well as find other game ideas. Play ball – There are plenty of baseball fields and open parks where the family can gather for a game of baseball with Dad. Whether you play a more competitive game of fastball or softball with older children or Wiffle ball with youngsters, it’ll be a day you all remember. Here’s a fun site with the official Wiffle Ball rules. Hand over the remote – Father’s Day isn’t always sunny and warm. But even if the weather doesn’t cooperate this year, you can still make the day special for Dad. Consider curling up on the couch with your dad for a couple hours of his favorite shows or movies. You can even plan ahead by renting some of his favorite old movies as a surprise. Fill the frames – You don’t need to spend a lot of money to give Dad the perfect gift. If you have some old picture frames around the house that are sitting in a closet or have out-of-date photos in them, consider giving them a new look. An inexpensive can of paint and some new photos of the kids can go a long way. If the children are older, consider reprinting some old photos of the kids when they were younger. Or you could even take some before and after photos of the kids by retaking photos of them today in the same place and pose of an old photo. Then combine the old and new photos using a photo editing software program or simply place the photos side-by-side in a frame. It’s a gift any dad will be sure to cherish. Watch home movies – Don’t just limit your movie watching to Dad’s favorite Hollywood films. Instead, spend some time watching some of those home movies that feature Dad and the kids – or even older home movies of Dad when he was a kid. If you don’t have many home movies, put together a slideshow of photos; it’s easy to do and you can even add music on your computer. Of course, if technology isn’t your thing, there’s no need to worry – grab the family photo albums and gather around Dad for a couple hours of laughing and sharing. Don’t forget Dad’s favorite meal – Whether it’s breakfast in bed or a favorite dinner, make sure you dedicate at least one meal to Dad. Happy Father’s Day to all the dads across the country – all 70.1 million of you. And may your special day be filled with memories as unique as each of you! ————————– Economic Calendar for the Week of June 13-17, 2011 Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise. Economic Calendar for the Week of June 13 – June 17 Date ET Economic Report For Estimate Actual Prior Impact Tue. June 14 08:30 Retail Sales May -0.7% 0.5% HIGH Tue. June 14 08:30 Retail Sales ex-auto May 0.2% 0.6% HIGH Tue. June 14 08:30 Core Producer Price Index (PPI) May 0.2% 0.3% Moderate Tue. June 14 08:30 Producer Price Index (PPI) May 0.1% 0.8% Moderate Wed. June 15 08:30 Consumer Price Index (CPI) May 0.1% 0.4% HIGH Wed. June 15 08:30 Core Consumer Price Index (CPI) May 0.1% 0.2% HIGH Wed. June 15 08:30 Empire State Index Jun 10.0 11.9 HIGH Wed. June 15 09:15 Capacity Utilization May 77.0% 76.9% Moderate Wed. June 15 09:15 Industrial Production May 0.2% 0.0% Moderate Thu. June 16 08:30 Jobless Claims (Initial) 6/11 421K 427K Moderate Thu. June 16 08:30 Housing Starts May 540K 523K Moderate Thu. June 16 08:30 Building Permits May 548K 551K Moderate Thu. June 16 10:00 Philadelphia Fed Index Jun 7.0 3.9 HIGH Fri. June 17 10:00 Consumer Sentiment Index (UoM) Jun 73.5 74.3 Moderate Fri. June 17 10:00 Index of Leading Econ Ind (LEI) May 0.4% -0.3% Low

The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors. As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you. In the unlikely event that you no longer wish to receive these valuable market updates, please USE THIS LINK or email: dean@teamdean.com If you prefer to send your removal request by mail the address is: Dean Wegner  9237 East Via de Ventura #100 Scottsdale, AZ 85258 Mortgage Success Source, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Success Source, LLC does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose.

How Will You Divorce?

If you were to inform me that you (or someone you care about) are planning to divorce, my first question would be, “How do you plan to divorce?” This question catches most people by surprise. Too often, the couple lacks the knowledge of the various choices available and therefore the corresponding costs and benefits of each option. Deciding how to divorce is a critical step in this often difficult process. This choice has a direct impact on your post-divorce life. Some questions you could consider when determining the solution that is best for you include:

Do you understand the long-term impact of the financial, legal and parental decisions stated in your final agreement?

Would you benefit from voluntary full-disclosure of information?

Would you prefer to keep your divorce private?

Should you make the financial, legal, emotional and parenting decisions or should those decisions be left to the court?

Would you benefit from professional guidance by experts in their areas of expertise?

What is the long-term cost (emotionally and financially) of coming to a resolution that one or both participants CAN’T live with?

A divorce can be one of the most costly – emotionally and financially – periods in your life. If you or someone you care about is getting divorced, take the time to understand all your options before proceeding. Reviewing the important aspects of divorce may “cost” more today. Yet, knowing you came to an informed decision, one that you and your soon-to-be ex spouse can live with, will undoubtedly minimize the costs in the long run.

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