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Financial Tips For December 2013

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Here are 10 Tips that will significantly help you and give you greater insight into how I view the financial world.

Tip #1
Struggling property owners should always look into modifying their existing mortgage with their current lender before refinancing with a new lender. Doing so could potentially be faster and less expensive.

Tip #2
Excellent modification negotiations with creditors can include decreasing interest rates, payments, principal and term.

Tip #3
It’s mathematically impossible for a nation’s economy to grow and prosper if a majority of its people have decreasing disposable income.

Tip #4
Traditionally, most Americans have had 3 sources of income which come from their jobs, real estate equity and investments.

Tip #5
Since 2005, most Americans have seen their incomes, real estate equity and investments decrease. This is a massive economic deterioration problem.

Tip #6
If any nation sees incomes, real estate values and real estate equity decrease by 50% and then increase by 5%, that nation is still in a depression, not a recession.

Tip #7
Decreasing Incomes + Increasing Expenses + Decreasing Disposable Income = Economic Deterioration no matter how you cut the cake.

Tip #8
Real estate equity is the difference between what a property is worth and how much money is owed against it. Example: if a property is worth $300,000 and monies owed against it are $200,000, then the amount of equity would be $100,000.

Tip #9
Real estate equity alone, which is the 6th Fundamental of the U.S. economy, has probably accounted for about one third of America’s economy since 1776 because there are billions of dollars that flow into it from equity. People over the years have used their real estate equity to 1) buy their second, third, fourth, fifth, etc. homes, 2) buy investment properties, 3) make home improvements, 4) pay off credit cards, 5) send their children to college, 6) pay for their children’s weddings, 7) to start new businesses, 8) go on vacations, 9) buy boats, cars, planes, etc. Yes, real estate equity has had a lot to do with the U.S. economy growing and prospering over the years. Without equity, the U.S. and, for that matter any nation, would be in serious economic trouble.

Tip #10
It was the best of times and now it’s the worst of times !!! Think this is the first sentence to the famous novel, A Tale of Two Cities? Think again. Welcome to the new America.

Remember to look for my “Financial Tips For January 2014” article in about four weeks.


Phil Mitsch

Agents’ Note: Phil Mitsch is America’s leading economic recovery, real estate, lending and motivational coach. He is also the real estate industry’s all time, top producing residential Realtor. His 1) biography, 2) testimonials, 3) seminar topics, 4) books, 5) videos, 6) audios, 7) economic recovery tips, 8) real estate tips, 9) lending tips and 10) motivational tips can be found at For further information, contact Phil Mitsch Enterprises in Cherry Hill, New Jersey at 856-665-6569, on Twitter at @philmitsch, or by email to



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