September 12

Are You Ready for Zero Percent Mortgages?

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Bank of America announced that they will be offering mortgages to people in disadvantaged areas who meet certain income requirements. They’ll get loans with no closing costs, no down payments, and no minimum credit scores.

They’re not the first bank to offer something like this either. TD Bank and JPMorgan Chase have also rolled out similar programs.

The Obama administration did something similar when they decided to pay for thousands of dollars in closing costs for new homeowners back in 2012.

I’m not going to get into whether or not this is a good idea. Big corporations and big governments will constantly and continuously intervene with stupid ideas that will inevitably go up in flames.

But just because you don’t like it doesn’t mean you shouldn’t take advantage of it by getting in front of it before everyone else. You bet I capitalized on Obama’s initiative back in 2012 even though I didn’t agree with his policy.

Now I’m not saying this is your solution to our current market woes. What I am saying is you need to be proactive and look for opportunity in every situation. If you look hard enough, you will find it.

But you need to have two major things in place to make this kind of thinking work. First, you need to approach life with an abundance mindset. Think big. Believe big. Work big. And you’ll get big.

Second, use your brain. There’s an old saying I love – poor people have big TV’s while rich people have big libraries. Where are you investing your free time? TV, cell phones, social media – it’s all a drug for the masses. If you want to live bigger than everyone else, you need to think better than everyone else. As Poirot, my favorite fictional detective used to say, “use those little grey cells!”

What other trends are right around the corner that you can take advantage of? Get those little grey cells working and figure it out!

To your success,
Ernie “Always Looking For Opportunity” Vargas | The Probate Fox

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