Financial Update by Maurice Soussé

Happy Friday,

Rates are almost exactly the same from last week with a pretty even bond market. Take a look at the jumbo fixed rates and 5/1 and 7/1 ARM’s. The rates are incredibly low.

I thought I would share with you a great benefit of our asset depletion program. Our guidelines allow a person with substantial assets to deplete their assets over time and use this as income to qualify. For example, a client of retirement age (59 ½ or older) has $750,000 in an investment account. They can authorize their investment advisor to issue them $5000 per from that account to help pay their monthly bills. We count this as income as long as the money will last at least a three year time period. This is a very unique underwriting method, but, great for someone who reports less income and has substantial assets.

I truly believe in the quote of the week: “Our attitude toward life determines life’s attitude towards us”.

Rates 021712, The Sousse Group, Luxury Irvine Condos