Review Mortgage Lenders

Amazon Mortgage

Save money @ & become debt free!

Living in a capitalist society, we are born and breed consumers. Yet we are given very little insight on how to protect our money and still ...

Lenders: Zillow is coming for you. Are you ready?

This is very simple. Consumers like a great experience. They also like experiences that play off of one another and that are familiar to them in their everyday life. Consumers want the Amazon and Apple experience. And for far too long the mortgage industry has given them Windows 95 .

You think that being a "local lender" and "relationships" are going to compete at scale against marketing behemoths like Zillow and Amazon? Depending on your niche market and your community, the answer is going to mostly be a big fat NO. 

If consumers don't even know about you, what does being local matter? Good price? Great service? It all means jack squat if you are invisible.

Out of the gate, you are competing against 160 million monthly visitors at Zillow. You are just a hair under 200 million monthly visitors at Amazon. Do you honestly think you are going to compete with that type of reach and attention? If you do, I will have two of whatever you are drinking.

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It’s not the same choice because the people in charge today will not be around in 30 or 40 years when things go bad.

Now younger generations, particularly the millennials, are starting to realize that they will be the ones eating the Alpo . For Trump, a baby boomer and a borrower — who engages in classic baby boomer behavior — debt is someone else’s problem.

I remember people squawking about debt when I was in business school 20 years ago. It is almost twice as high today. Perhaps that is the reason people never take debt seriously — the margin call never seems to happen.

Debt is sometimes acceptable

The general rule of thumb on consumer debt : Never borrow anything you can’t outgrow.

For example, don’t take out a car loan at 4% interest if you’re not growing your income more than 4% a year.

If your income is stagnant or shrinking, debt is an even more terrible idea because it will be getting larger in real terms.

Also, very few people can buy a house without a mortgage. But that is something you should aspire to! I have done it once in my life.

I'm a college student living in a dorm and I want to sign up for the Amazon Rewards Visa?

The Visa asks me of my mortgage and residential information. Now does that apply towards where I am residing right now? Or does that refer to my parents' house?

It makes no difference since I suspect you do not pay the mortgage at your parent's house. Your status would be "live with parents" or maybe dorm living could be considered "renting". Neither has anything to do with mortgages.