BNGIowa

What are you doing with yours?

I was excited this week that the federal tax rebates were starting to hit everyone's bank account.  Even though my last two digits of my social security number would have gotten me a rebate this week, I owed the IRS this year (reluctanctly) and therefore did not direct deposit any refund.  So I will have to wait for the paper version sometime in May or June. 

I was watching our local news the other night, and it surprised me what the majority of people are planning on doing with their rebate. Over 58% of the respondents were going to pay bills with the money, 24% were going to save it, and only 14% were going to buy something fun.  I thought "typical, conservative Iowans."  My grandmother, who went through the great depression, came to mind. She would have saved it.

One of my good friends, on the other hand. has plans for his.  Seeing that he and his wife will be getting back $1,500 (they have one child), he has his eye on a flat-screen TV and a new driver.  Isn't that what we are SUPPOSED to do with the windfall?  It is an economic stimulus rebate, right? Isn't it considered "free money" to do what I want with?  Yeah, that's it!  I can buy whatever I want - expensive dinner, new electronics, summer vacation, etc.  Oh the possibilities!!  So what stores do I hit and in what order?  This is great! 

Wait a minute . . .

Then how come I feel like my only options are to pay off my credit card debt or save it? 

Thanks grandma.

What's the address for Mastercard?

Customer Service: It's the Little Things.

I just got back from running an errand.  I went to Wal-Mart to get a battery for my $18 Wal-Mart watch.  Heck, it looks nice and keeps time.  I bet Sam Walton never spent that much on a watch.  What do I need with anything more expensive?  Anyway, the lady at Wal-Mart replaced the battery and tried and tried to get the back on my watch again.  She had a press with different size attachments to shield the face and back from damage.  Finally, she said, "I'm sorry.  I just can't get it back on.  You'll have to go next door to Windsor Clock & Watch.  They have better presses than we do."  I thanked her and paid for my battery and left.

Now, Windsor Clock & Watch sells expensive watches and all types of clocks that can run up into the thousands of dollars.  Even though I like my $18 watch just fine, I felt a little sheepish walking in there and presenting it to the man who greeted me.  Anyway, he took my watch back into the repair area and replaced the back and even reset the time and date which I had yet to do since I wasn't wearing it.  When he came back and handed it to me, I asked, "So, what do I owe you?"  He replied, "Nothing.  Just remember us if you ever need anything else." 

Now, I didn't really expect him to charge me but, we are in the middle of a major kitchen remodel.  Once we have everything done and see how all the colors work out, I'm thinking we're going to need two nice clocks to set things off.  We'll need one in the kitchen area and one in the wet bar area.  Where do you think I'll go to shop for those clocks?

In this brief, but thought-provoking post, Ginger Johnson asks, "What kind of service are you giving to your clients?"

How Could Any Mortgage Company Double Sales in 2007?

People questioned my sanity last summer when I chose to add mortgages - more specifically, the Home Ownership Accelerator - to the list of services available through Bridges Financial.  Seems like a particularly foolish time to be getting into the mortgage business.  Since then, whenever I mention mortgages to someone in conversation, they say something like "Boy!  You guys really have it rough right now.  Huh?".  I always try to explain that the Home Ownership Accelerator is a loan program designed for an entirely different type of borrower.  This is not another program for the borrowers who are costing taxpayers, investors, and people in the industry a lot of money and possibly even their jobs.  No, this loan is designed for responsible borrowers who have a fair amount of equity in their homes, good to great positive cash flow, and a demonstrated pattern of financial responsibility.  It's just a matter of time before this program becomes incredibly popular and I'm excited to be the first guy in Iowa talking about it.

Anyway, yesterday I came across this news story about how CMG Mortgage Bucks Mortgage Industry Collapse, Doubles Sales of New Home Ownership Accelerator^® Loan in 2007 .  The story has been featured on several U.S. and even a couple international news sites.  The story confirmed for me what I'd been thinking all along.  Any company that can double their sales and maintain strong underwriting profits (i.e. NO loans in default) is probably a pretty good partner for me to help my clients reach their financial destination.