Morning, All!

If, like me, you are struggling with what is to come from the circus surrounding our election, you may have thought about what to do with your money. I did the logical thing. I gave up. I have no idea what is in the 401K stockpile, or whether I should ask my broker- a guy I trust- whether I should be looking at transitioning stocks to bonds, whether the market is going to collapse in the face of the trillions (I know, surreal number, right? Before this summer I only heard it used in more abstract national budget deficits) being thrown around.

I don’t think I know how many of those t-words we have thrown around this year in the face of what seems to be a complete repudiation that things can’t just slide into wild inflation over paper certificates of alleged worth. As a history major, the image of staid Germans pushing wheelbarrows filled with worthless marks down to the bakery always filled me with dread and disbelief. They say it can’t happen now, and have invented an entirely new monetary theory to accommodate the new reality.

The only real thing of worth I vaguely understand is my house and the acreage around it. I bought the farm in 2009, gambling that the housing meltdown would ensure a good deal. My performance in judging the market runs about 50-50 for success. I remember my first mortgage came in at around 12% interest; the modest rates that followed the meltdown, sponsored by the Federal Reserve, were so low as to seem negligible. But it seems that the Swamp seems to want to give money away to fight a self-inflicted recession.

A very good pal stays in touch with the money game much better than I do. She mentioned a mortgage guy who had done a crisp and professional job with refinancing her properties. I was willing to give him a chance, and dropped a note of supplication. He was prompt and professional. I completed the package of information over two days, and will close shortly at a savings of about 1% on each of two loans. I told him how impressed I was. My VA loan at Big Pink required no external examination. The conventional mortgage number on the farm will require a reappraisal, but the most important part to me is that my part is done, and I will be saving a pretty good chunk of cash by December. No cash up front.

The guy’s name is Anthony Russo, and his company is Loan Depot. I include his information in case you want to give it a try. I was impressed. If you try him, let me know how it goes.

arusso@loandepot.com

– Vic