Wednesday, December 14, 2016

General Loan Limits for 2017

The general loan limits for 2017 have increased and apply to loans delivered to Fannie Mae aka new lender in 2017 (even if originated prior to 1/1/2017). This is the first time the base loan limits have increased since 2006. 
 
What does this mean to you, well many consumers were on the bubble for a long time. By that I mean being in a position where they needed to obtain a high balance loan and along with that a higher rate because the loan amount they were applying for was above the conforming limit. Now with the higher limits, many more borrowers will be in a position to obtain the lower priced conforming loans.
 
 
General Loan Limits for 2017

Maximum Original Principal Balance for 2017
UnitsContiguous States, District of Columbia, and Puerto RicoAlaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $424,100 $636,150
2 $543,000 $814,500
3 $656,350 $984,525
4 $815,650 $1,223,475

Maximum Loan Limits for High-Cost Areas for Mortgages Acquired in Calendar Year 2017
All but 87 counties (or county equivalents) will see a loan limit increase.
UnitsContiguous States, District of Columbia+Alaska, Guam, Hawaii, and the U.S. Virgin Islands
1 $636,150 $954,225
2 $814,500 $1,221,750
3 $984,525 $1,476,775
4 $1,223,475 $1,835,200

*source Fannie Mae


Thursday, October 27, 2016

Mortgages Rates Uncertainty Remain HIGH

Hello again from Rockland Financial...

Rates have been edging higher recently, nothing drastic but they seem to be trending that way.

Interest rates didn't move much today, with most lenders just a bit higher than yesterday.  This actually keeps us in line with the highest levels in over 4 months.  However, for the sake of perspective, rates have almost never been as LOW as they are today.  The average lender is quoting conventional 30yr fixed rates of 3.625% on top tier borrowers, with a few at around 3.5%.

Bond markets that affect rate movement find themselves generally defensive and uncertain. Investors are anxious to see if next week's Fed announcement will hold clues about the Fed's intention to hike rates in early December.  Although the Federal Funds Rate doesn't directly affect mortgage rates, if investors think the Fed will hike in the near future, mortgage rates tend to move higher in the present. A bit of a knee jerk effect so to speak

That's one of the key reasons that rates have been seeing an uptick over the past few months.  The other major concern is that of the Fed's largest counterpart, the European Central Bank (ECB). Investors are anxious to find out if the ECB plans to begin reducing the amount of bonds it's buying each month.  This bond buying is a driving force and contributes largely to low rates around the world.  There are obviously rumors floating around on both sides of this debate, but we won't know anything for sure until early December we should hear ECB's thoughts.

There's a massive amount of uncertainty between the ECB and Fed, and this can't possibly be cleared up for more than a month. As far as strategy is concerned regadring mortgage rates, it makes more sense to be defensive (as in favoring locking vs floating) until at least and unless rates can stage a big enough comeback to call the recent uptrend into question.

And now the broken record part. Rates are still historically low and there are many reasons to take advantage and refinance, below are just a few.

If you are in the market to purchase, getting pre-approved is paramount.

Contact us to help you with any Real Estate need you have. (Rockland Financial is also now representing buyers and sellers with finding the perfect home or listing your property to get the highest price available)

Wednesday, September 28, 2016

FED decided, it's not quite time to make a move just yet

Federal Reserve still waiting for right moment to raise rates.

Fed leaders decided against increasing the bank's key interest rate on Wednesday September 21st after the conclusion of a 2 day meeting. This was widely expected by economists and investors alike.

"Our decision does not reflect a lack of confidence in the economy," said Janet Yellen, chair of the Fed. "It's better to err on the side of caution."

The Fed also downgraded their forecast of economic growth in 2016 for the third time this year. This could be a positive as rates are likely stay low a bit longer, at least that's what we hope here at Rockland.

Some experts have supported the Fed's decision, arguing that the risks out weigh the pros. It would be much worse to raise rates too soon rather than too late.

"The better decision would be to wait," says William Poole, senior fellow at the Cato Institute. "We can make up ground if we have to in the future but if we raised rates prematurely and then we had to back down, that's going to more disruptive."


For the rest of the year, 10 out of 17 Fed members project only one rate hike this year.

The Fed last raised interest rates in December 2015, its first increase in nearly a decade. Currently, interest rates are in a range of 0.25% to 0.5%.

So as it goes, we are currently still in this market of incredibly low interest rates. Saving money by refinancing is in full swing. With a myriad of reasons such as refinancing to lower your term (15 year fixed), refinancing to get cash for reserves or other investing and obviously getting pre-approved for a purchase money loan, the time is now to inquire about what is possible and what makes the most sense for your financial situation. 

We are always available and will gladly answer any and all questions you might have. Contact us and join the many others who have worked with us and have been totally happy with their results.

Friday, August 19, 2016

Rates are Approaching Another All Time Low... and, just married :)

Rates have steadily been decreasing in 2016, quite the opposite of what everyone thought might happen.  

To put in perspective, in terms of conventional 30 year fixed quotes on top tier borrowers, the best ever seen was a range from 3.125% - 3.25% during a few days in late 2012.  Rates did manage to spend a few days back down at 3.25% in early July 2016, however since then, the new range has settled between 3.375% and 3.5%.  In other words, rates have held for over a month at levels that are a mere quarter point higher than the all-time lows we saw back in 2016 and that only held for a few days.  So unless you happen to be one of the lucky few that got an application in during those brief moments, today's rates might as well be all-time lows.  Congrats to you and me (see pic below)! 

So to make quite the direct to point... REFINANCE NOW! This isn't likely to stick at least not for long, don't be one of those who ends up saying "I should've pulled the trigger on that refi"

BUY NOW... your buying power is at its peak. Once rates start to inch up you will no longer qualify for the same purchase price that you qualify for now with these incredibly low interest rates.

Contact us now to find out how your potential savings are or to get pre-approved for your purchase.

The time is now, do not miss out.

 (this is pretty random but I just got married on 8/13/2016 and this was our wedding selfie)


Friday, June 24, 2016

How the BREXIT could affect us...

This is huge news and is a trending topic in a big way and this can have a big trickle down effect. Here are some things that could get effected

*Your mortgage

Mortgage rates are reaching their lowest levels in three years in recent weeks as the Federal Reserve has begun to fear that Brexit might become a reality. The latest data shows the average interest rate on a 30-year fixed conventional loan at 3.54 percent approximately, compared with more than 4 percent a year ago.

This isn't what most economists expected to happen this year. In December, the Fed raised its interest rate for the first time since the recession and said it planned to make four more rate hikes this year in 2016. The anticipation of higher rates from the Fed pushed up 10-year Treasury yields, and mortgage rates followed.

The Fed has not hiked rates again, yet. It was forced to reevaluate its plans amid this weakness in the global economy. Last week, Fed officials voted to remain on hold, and they cited the risks surrounding Brexit as an important factor. Consequently, yields on 10-year Treasury notes fell to levels not seen since 2012.

Brexit has spawned a recent bout of volatility in global markets. This has anxious investors scurrying for safety -- and few assets are safer than U.S. Treasuries. High demand for government debt pulls down interest rates.

This all translates into ultra-low mortgage rates for American households. And with Britain voting for Brexit, they could go even lower.


*A Volatile market slows down the engine of U.S. growth
 
American consumers make up the majority of U.S. economic activity. If they don't spend, the economy doesn't grow.  How much money is spent often depends on how they feel good about where the country is heading. Americans don't go out and buy homes and cars if things aren't looking good and a stock market downturn can really whittle down confidence.

Brexit is already causing severe volatility in global markets. If that volatility continues for weeks and months, it could cause American business owners and consumers to reconsider their spending plans.

A cutback by consumers would be particularly bad news at the moment.


*Brexit forces the Fed to rewrite its playbook 
 
As mentioned above, in December, the Federal Reserve signaled that it would raise rates four times this year -- this would be a strong sign that the U.S. economy has recovered from the recession. Higher interest rates benefit savers, who can make more money on deposits.

By June, some Fed committee members were calling for just one rate hike in the wake of weak growth and slowing job gains.

If volatility in the markets from Brexit continues, and if U.S. consumers ease back on spending, and employers slow down hiring even more, the Fed could be looking at zero rate hikes in 2016. In fact, markets are already starting to increase their expectations for a rate cut this year.

This isn't not how the Fed planned for the year to unfold. U.S. central bank officials had started the year with high expectations after raising rates in December for the first time in nearly a decade.

The Fed is now coming back down to earth. Other central banks around the world have lowered interest rates into negative territory and the conversation has shifted to whether the Fed should consider that move too.


Long story short, there is quite a bit going on and quite a bit on the horizon after that decision was made today. I won't bore you with this any longer today but keep an eye for more news to come.

For now rates are low, crazy low... If you are thinking about purchasing a property or are thinking about refinancing, contact me to see what we can do to help.

*source - Washington Post,  CNN money

Wednesday, June 8, 2016

7 Mortgage Misunderstandings That Could Cost You

There are many mortgage misunderstandings that could cost you a lot in the long run. Spending a little time learning more about mortgages might help you save hundreds, maybe thousands, of dollars.

Don't assume you know everything you need to know


1. Ignoring your credit score
Your credit score has a major impact on the interest rate that lenders may offer you. If you don't have a good score, consider spending some time improving it before getting into to buying a home. You may be able to improve your score by fixing errors on your credit record, by paying bills on time, and/or by reducing your total overall debt.

2. Getting a bigger mortgage than you can really afford
While house hunting, it might be tempting to look a bit beyond your price range. Big mistake, don't buy a home that will be expensive enough to have you stretched thin financially. It is said that you should spend no more than 25% - 30% of your gross monthly income on housing (including property taxes & insurance) - but try not to relying on a broad guideline like this, take the time to figure out what you can afford. Try and take as much as possible into consideration, for example your regular household expenses, such as food, utilities, transportation, travel, entertainment, maintenance, credit card payments, and contributions to savings. Other expenses to consider could be medical or automotive emergencies and the cost of setting up your old home for sale and setting up your new one. Buying less home than you can afford will give you a margin of safety, and help you be able to save.

3. Getting pre-approved (I've mentioned this quite a bit before)Once you know what loan you want and from which lender, don't wait until you find that perfect home to start the loan process. Get pre-approved for the loan before you go shopping. This has several advantages. First, through the process of working with your loan officer, you will find out just how much home you can afford to buy. Second and equally important, it will make you a more credible buyer, should you end up getting into a multiple bidding scenario which is very common these days.
 
4. Getting the wrong kind of mortgageDon't assume that a standard cookie cutter 30-year fixed-rate mortgage is always best. It just might be, but also consider your alternatives. You have many options on the table, you may need to decide between a 15-year or 30-year loan (other time frames also available), between a fixed-rate mortgage or adjustable (ARM). Longer terms will afford you lower payments, but you'll pay more in interest over the life of the loan.

If you're not comfortable with a 15-year's higher payments, consider getting a 30-year loan that allows prepayments, and then set out to pay more than you need to each month, in order to pay additional principal and shorten the life of the loan.

If you're not planning to be in the home very long, an ARM might be best in today's low interest rate environment, as it can lock in lower rates for a few years. If you think you'll be in the home for the long haul, it can be better to lock in a low rate for the expected life of the loan.


5. Making a small down paymentWhile it isn't always possible to put a larger down payment consider the following. Putting less than 20% down on a new home means you to take on an extra loan in the form of private mortgage insurance (PMI) or (MIP on an FHA loan), which will increase your monthly payment. A smaller down may also result in a higher rate. 20% just isn't possible sometimes and if that's the case you have many options there too. Contact us to help you determine what is your best scenario

6. Paying off your mortgage earlyIt can sometimes be good idea to pay off your mortgage early, and avoid having a big loan on your shoulders, especially if you may be entering retirement. However paying off your mortgage early isn't always the best thing to do. If you don't have an emergency fund or good retirment, for example, you might be better off establishing and/or funding one with the extra money you are using to pay down the mortgage. Keep in mind you will also be giving up mortgage interest deductions by paying off the loan early. If you have any high interest debt, such as credit card debt, paying that debt off early should be the priority.

7. Thinking it's not worth it to refinancingFinally, once you have a mortgage, don't just assume it isn't worth refinancing. If the rate you might get on a new loan is about a percentage point lower than your current rate, it could be well worth it to refinance. Also when you purchased your home, you may have got a 30 year fixed and lowering your term to say a 15 year fixed could make a lot of sense now.

Crunch all numbers though and consider your big picture. If you don't plan to stay in the home long, refinancing will make a little less sense.

Spending a little time learning more about mortgages could help save you a bunch money =)

*source The Motley Fool

Thursday, June 2, 2016

Does Applying for a Mortgage Tank Your Credit Score?

A lot of folks think that if they apply for a mortgage that their credit score will drop dramatically each time an application gets filled out, think again. What really happens when you apply for a mortgage and your credit is pulled is...

Getting your credit pulled is a requirement when you apply for a mortgage. It's really the only way a mortgage company can determine whether you can qualify for financing and what your rates and fees are going to be.

Now if you are going to apply for multiple forms of credit at the same time, such as a credit card, a mortgage and/or an auto loan, these actions can and most likely will negatively impact your credit score. Each of these applications will generate a hard inquiry on your credit report, which could send a signal to other lending institutions that you are having difficulty managing credit.

This extra damage to your credit score can be side stepped by applying for one form of credit at a time, and limiting the time between each credit inquiry. This is because most credit scoring models group inquiries for the same type of financing (ie., mortgage, auto or student loans). If made within a specific time frame this allows people to comparison-shop without necessarily dinging their credit scores. This timing can vary, but, in most cases, inquiries of one of those types will be counted as one, provided they occur within a 14- to 45-day period, give or take.

When Credit Shopping, remember, there are many different types of credit scores. Different lenders and industries use different models and there can be variations from score to score. As an example, the credit score your auto dealer may look at might be 740 while the score Rockland Financial looks at could be 720.

Also each creditor you do business with reports to the bureaus at different times of the month. So it's normal for your credit score to be different from one month to another and during different times of the month.

So long story short, don't get rate quotes from a mortgage company without having an idea of where your credit stands, it's just setting yourself up for disappointment - Even more so if your actual scores end up being different than your guesstimates. 

*source (credit.com)  

Friday, May 13, 2016

The 10 Commandments of Buying a Home

This is definitely not an original post from myself but a pretty cool depiction of something Rockland Financial believes and recommends as well.

All of these things can impact how much you qualify for in a negative way. Some items may cause more paperwork to be needed to complete the loan process. Some things might make the amount you once qualified for much less than you first were told.

One example of a big no no: going from salaried to a self employed individual can literally make it not possible to obtain a loan any longer. Self employed individuals need to demonstrate at least a one year history of self employment for the income to be usable for qualifying. So if you quit your job and start a business it could possibly be at least one year before you can realistically start house hunting again.

Long story short if any of this seems like a possibility, do yourself a favor and contact your loan officer to figure out a way around it or if it already happened figure out a way to address the problem it may have caused.


We are always here to help. Contact us anytime.

*source - lighter side of real estate

Tuesday, May 3, 2016

Should you be looking into refinancing?

You bought your house. You’ve put in the work and remodeled, redecorated, settled in and made it a home. Now what? Well, If you’ve been paying your mortgage for a few years or even more than just a few, you might want to consider refinancing.

There are several reasons to consider a refinance — perhaps interest rates have dropped since your initial loan or you want to shorten your loan’s term. If you happen to have an adjustable-rate mortgage (ARM), you may want to switch to a fixed-rate in order to lock in today’s historically low-interest rates.

There may also be reasons to do a “cash-out” refinance, which allows you to tap into your home’s equity. If you need some extra money to facilitate a home remodel and you figure it will add to the value of the home, this might be the right option. Keep in mind, you’ll be increasing the length of time it will take to pay off your home and ultimately paying more in interest and fees.

Refinancing isn’t always the best choice, it really depends on the individual needs and circumstances of any given borrower. It can be complicated process that has fees associated with it. Before you decide to ge into it, you may want to consider a few things. If your credit isn't great, you may want to work on improving your credit before you refi. A better credit score means a better mortgage rate. Next, you need to ask yourself where you’ll be in five years. If you do not plan on sticking around for a while, refinancing may not make sense. But if you’re thinking about being around long term, you can probably recover the fees associated with a refinance just through interest savings. Rockland Financial will be happy to walk you through this and help you determine what is the best course of action.
 
If you’ve calculated the numbers and decided it makes sense to refinance, then you’re ready to start shopping for mortgages. Remember, when you refinance you’re applying for a new loan, which means you need to be prepared to provide all the necessary information to get a loan approval: verify your income, your assets, your debt-to-income ratios, your credit profile, and your job history. A home appraisal will be needed to make sure it’s still worth enough to support the loan. 
 
Mortgage refinancing these days can be a bit complicated, but with the right support and guidance it can be relatively painless. We are here to help, contact us at anytime...


*source Yahoo Finance

Monday, April 25, 2016

Which mortgage is right for you? Conventional, FHA, VA

You should know these 3 loan types before you go mortgage shopping.
  

Conventional loans

  

Who they cater to: Conventional mortgages are ideal for borrowers with good to excellent credit.

In plain terms what is a conventional loan: Conventional mortgages are "plain vanilla" home loans. They follow fairly conservative lender guidelines for:
  • Borrower credit scores.
  • Minimum down payments.
  • Debt-to-income ratios.
Rockland Financial will structure your deal for the easiest and smoothest loan process possible.
  

Debt-to-income ratio

Percentage of monthly income that is spent on debt payments, including mortgages, student loans, auto loans, minimum credit card payments, child support etc. This percentage is much more conservative for conventional mortgages than it would be for FHA.

Closing costs, down payments, mortgage insurance, interest and points can mean the borrower has to show up at closing with a sizable sum of money out of pocket.

Find out more about closing costs, the loan process and how to save money.

Pros: Conventional mortgages generally pose fewer hurdles than FHA-Federal Housing Administration or VA-Veterans Affairs mortgages, which may take longer to process.

Cons: You'll need excellent credit to qualify for the best interest rates. Lower FICOs can impact the rate depending on amount of down payment and/or loan to value.
   

FHA loans

  

Who they're for: Federal Housing Administration mortgages have flexible lending standards to benefit almost anyone:
  • People whose house payments will be a big chunk of take-home pay.
  • Borrowers with low credit scores.
  • Homebuyers with small down payments and refinancers with little equity.
How they work: The Federal Housing Administration does not lend money. It insures the mortgages.

The FHA allows borrowers to spend up to 56% or 57% of their income on monthly debt obligations, such as mortgage, credit cards, student loans and car loans. In contrast, conventional mortgage guidelines tend to cap debt-to-income ratios at around 45% and sometimes less.

FHA borrowers can do minimum down payments of 3.5%. Borrowers can also qualify for FHA loans with credit scores of 580 and sometimes even lower.

One of the major cost differences: Each FHA loan has 2 mortgage insurance premiums:
  • An upfront premium of 1.75% of the loan amount, paid at closing. (this can be financed)
  • An annual premium that varies from a low of 0.45% to a high of 0.85%. This premium is rolled into the monthly mortgage payment for the life of the loan. (the is FHA's version of the more commonly heard term PMI)
The good: FHA loans are often the only and best option for borrowers with high debt-to-income ratios and low credit scores.

The not so good: FHA mortgage insurance premiums usually are higher than premiums for private mortgage insurance. To get rid of FHA premiums, you must refinance the loan.
   

VA loans

  

Who they're for: Most active-duty military and veterans qualify for Veterans Affairs mortgages. Many reservists and National Guard members are also eligible. Spouses of military members who died while on active duty or as a result of a service-connected disability may also apply.

How they work: No down payment is required from qualified borrowers buying primary residences. The VA does not lend money but like FHA actually guarantees loans made by private lenders.

Cost: The VA charges an upfront VA funding fee, which can be rolled into the loan or paid by the seller. The funding fee varies from 1.25% to 3.3% of the loan amount. (the amount of the funding fee depends in part on how many times a VA loan has been obtained by the borrower)

The VA allows sellers to pay closing costs but doesn't require them to. So the buyer might need money for closing costs. Borrowers may also need money for the earnest-money deposit.

What's good: VA borrowers can qualify for 100% financing. Veterans do not have to be first-time buyers and may reuse their benefit.

What's not as good: There are limits on loan amounts. The limits vary by county and State.

Contact me at any time, I am always available and happy to help in any way that I can.

*source Yahoo! Finance

Thursday, April 21, 2016

Rockland's stick figure spokesperson

If the little stick figure says it about Juan-Diego... then it must be true =)

Reasons You Should Get Pre-approved for a Mortgage


What is a mortgage pre-approval? In a nutshell, a mortgage pre-approval is written assurance from a lender or broker that you’re able to borrow money to purchase a home up to a certain amount. Rockland Financial will happily provide such a letter once we have had a chance review all the pertinent information.

So why should you get pre-approved:

1. Without it, most agents won’t work with you. Makes sense, too. Right? Think about it: when you hire an agent, he/she will invest countless hours showing you homes over the course of your house hunt. No one wants to spend valuable time showing you homes for $500,000 when you only qualify for $350,000 and vice versa why would you want to spend your time looking at homes out of your price range.

2. You’ll know how much house you can afford. Getting pre-approved before you begin house hunting allows you to know how much house you can realistically afford and thus allow you to focus your energy in the right direction. This kind of goes hand in hand with number 1.

3. It adds clout to your offer. That’s because pre-approvals instill confidence that the buyer is financially capable of purchasing their home. If a seller has multiple offers, which is fairly common these days, they will tend to lean toward buyers who are pre-approved. And why wouldn't they?

4. It saves time. Obtaining a mortgage is sometimes a lengthy process. Getting pre-approved ahead of time shortens the time between contract to close.

A pre-approval is so valuable because this means that Rockland Financial has actually checked your credit and verified your documentation to approve a specific loan amount and purchase price.

What you need to get pre-approved:

1. Proof of Income  (last 2 years of income taxes and W2s or 1099s)
2. Proof of Assets (proof of your down payment, closing costs & cash reserves)
3. Good Credit (low credit scores aren't a deal killer but expect a little hit on the rate)
4. Employment Verification (paystubs and verbal verification with employer)
5. Documentation (driver license copies and social security numbers)

These are just some basic items and overview of what to expect, the pre-approved link above has a complete list.

Contact me, I would be happy to walk you through all your options and answer any questions or concerns that you might have.

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Thursday, April 14, 2016

Warren Buffet's 7 best pieces of investing advice

Hello,

I am Juan-Diego Currea from Rockland Financial and i just wanted to take a couple of minutes to share with you, which i do on occasion. When I share you will notice it isn't always about real estate but I do try and share stuff that I think is useful for everyone, ranging anywhere from mortgages, to credit, to investing as evidenced here or something cool I may have done (hope those don't bore you). Anyhow enough about me, on to the sharing I spoke of.

Most of you know who Warren Buffett is and if you don't, you should. Google him, he is in this humble Mortgage Broker's opinion the most successful and intelligent investor of an era. When Warren offers investing advice, everyone listens. 

1. The worst investment you can make over time: cash.
Keep enough cash around so you feel comfortable and don't worry about sleeping at night. But it's not because he likes cash as an investment. Cash is a bad investment over time. But you always want to have enough so that nobody else can determine your future essentially.

2. Invest in a broad-based index fund that tracks the S&P 500.
If you are a professional and have confidence, then tread softly and with care. For everyone else,  the idea is to participate in total diversification. The economy will do fine over time. Make sure you don’t buy at the wrong price or the wrong time. That’s what most people should do, buy a cheap index fund, and slowly dollar cost average into it.
  
3. Invest in yourself.
“The best investment you can make is in your own abilities. Anything you can do to develop your own abilities or business is likely to be more productive.”Believe in yourself and do whatever you can to expand your knowledge, learn and ask questions. The more we know the better decisions we can make

4. If you’re determined to pick stocks, don’t buy into a business you don’t understand.
[Individual investors] ought to think about what he or she understands. Say they you are going to put your whole family's net worth in a single business. Would that be a business they would consider? Or would they say, "Gee, I don't know enough about that business to go into it?" If so, they should go on to something else.... Keep in mind that not even Warren and his people fully understand and I don't think that causes them to stay up at night. It just means you go on to the next one, and that's what the individual investor should do.

5. Focus on the competition as well.
[Buying stock in a company is] buying a piece of a business. If they were going to buy into a local service station or convenience store, what would they think about? They or you would think about the competition, the competitive position both of the industry and the specific location, the person they have running it, a niche or lack of, is it up and coming, is it established as always due diligence and research don't just jump into anything blindly.


6. Invest for the long haul.
“If you aren’t willing to own a stock for 10 years, don’t even think about owning it for ten minutes” I have heard this since I was a kid, I didn't realize this was one of the guys that preached it. It's so true, almost every investment chart or graph shows ups and downs but over the long hall it's almost always at the end of the day, steadily going up... if you have it long enough.


7. The hardest part about investing: trusting yourself.
When I first started with Rockland Financial it was almost a leap of faith, but here i am 20 years later and still going strong. You need to divorce your mind from the crowd. The herd mentality causes all these IQ's to become paralyzed. Smart doesn't always equal rational. To be a successful investor you must divorce yourself from the fears and greed of the people around you, although Warren thinks it is almost impossible. 

Most of this is right from Warren's mouth, some I paraphrased. He is someone I admire and well, I thought I would share some of what I read recently, although I am sure these are old ideas they still hold true.

* source Yahoo Finance
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