Veterans wanting to take equity from their home WATCH OUT!

    A person can tell a lot by the amount of “prime time” advertising a business has their messages placed within.

    If you are viewing some of the longest, well choreographed and prepared commercials during prime time, imagine the amount of $$$ being spent. Then reflect back and consider the amount of money being made.

    I was not in the Military. I started at 18 as a certified correctional officer, then at 21 achieved a long time goal of becoming an LAPD officer.

    During my tenure in Law Enforcement, I worked with a lot of Military Veterans. I have also worked in my real estate business for a lot of Current military enlisted and officers, helping them and their families with their real estate needs.

    As a Military Veteran, you can borrow, because of the Veterans Administration loan guidelines, 100% of your homes current value. If you have paid down your balance on your home, over time, you can borrow the amount between what is owed and what the current value is.

    BTW – you can also buy a home with 100% financing if you are a military Veteran in Good Standing. Currently serving and those who have achieved an honorable discharge.

    The reason for this posting is while that looks super easy, and it is, should you be?

    Should you be taking equity out of a real estate asset that you need to survive?

    Taking money to pay off a credit card, which you will probably be having to pay a small amount forever to pay it off :), may not be the best way to do it. Maybe you can save from another are in your life to make that card paid off earlier than your minimum payment will allow?

    Paying off a car, something that depreciates at the moment you drive it off the lot, using your home’s equity, maybe not be the best application of your dwelling where you lay your head down to sleep at night.

    I don’t do loans or lending. I sell real estate. I represent Military Veterans with their real estate needs in Santa Clarita Valley and within the Greater Los Angeles Cities.

    The reason why I’m writing this is so you can take an additional moment to reflect. To ponder if you should be borrowing money against your home’s equity?

    There are a lot of VA approved lenders. If they are not asking you to reflect, they may be doing you a disservice. We have the “should you be selling/buying” talk with all of our real estate clients within the interview and planning segment of our crash course on real estate.

    Consider for a moment what your real estate’s purpose is? Your home provides a safe place to sleep. Sleep is when you are most vulnerable. If you have a family who lives with you or stands by when you are away protecting this great Nation from all threats foreign and domestic, they should be considered before removing equity from your home.

    Of course, life happens. Things happen that can really knock the hell out of a person. Sickness, divorce, job loss, disease – life, they happen. Give pause before you step forward and remove equity from your home. Look for another way. Seek out other options and brainstorm with those whom you hold closest.

    OMT – A financial advisor. Someone who will advise you and potentially view your circumstances with a different set of glasses. This can be hugely valuable to you. Some of the banks where you may find a “free” financial advisor may provide VA Loans and VA Lending services. Listen to them carefully and potentially seek advice outside of those who make a living from granting VA Loan Services.

    I’m Connor MacIvor and I HATE To see those who protect and serve taken advantage of when it comes to real estate, loans, and lending. When I was a new cop there were always those advertisements hanging everywhere at the station, in the locker room, on the bulletin boards. They had one common theme. We give cops great deals! And they were always signed by a family member of a cop. Someone who knew a cop, Others who thought they were “KIN” to police officers, highway patrol, and deputies. The same happens within the Military.

    There were more coppers that were taken advantage by those who said they were giving them a GREAT deal because of them being cops. I still see that happening today to our Law Enforcement officers and Military Veterans.

    Watch out for your selves. If you are wondering what you should do. Feel free to call me. I’ll be glad to be of assistance. Connor MacIvor, my number is at the top of this screen.

    There are a lot of those organizations, banks and mortgage brokers who are able to provide VA Loan origination, meaning they can provide for you if you want to finance a home purchase. They can also position you to pull out equity from your home. The best originators, at least in my humble opinion, are those with real LOCAL Brick and Mortar offices. A place where you can walk into if something goes wrong and stand eye to eye with, well… whomever 🙂

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    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

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