August 15, 2016
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Ernie Graham

There’s a sea change occurring in homeowner financial management.

Key take aways:

  • On the rise: Technology for empowering homeowners, like you, to manage their financial assets like a pro.
  • Home Equity, (not 401ks, not investment accounts), is responsible for over 80% of your retirement wealth.
  • Loan officers have powerful insights and best practices that can be unlocked for their clients.

Your Loan officer knows things that they aren’t telling you. They have written the book on tips and tricks for saving 100s of thousands of dollars in interest expense…but you can’t get it. Why are they keeping this to themselves?  It’s not diabolical…it’s just timing.  Most of these insights are only helpful after you close your loan.

The transaction orientation of the lending business has your Loan Officer moving on from you to one of the other one to three loans they need to close that same week.  You, on the other hand, put that manilla closing papers folder on the “break glass in case of emergency” shelf.

New technology is now emerging that automatically captures smart Lender insights and applies them to your specific home loan scenario on a weekly/monthly basis.  No more silly postcards, online loan calculators, or in-person consultative meetings with language you don’t understand (insert charlie brown “wahmp wahmp wahmp” sounds here).  This technology simplifies this enormously to presenting you with Green=good, Red=bad …and encourages you to do as much Green as you can if you want grow your wealth faster.

The personal financial management tech trend has been building for years.  Mint.com pioneered the experience that helps you understand and manage your monthly expenses.  Newer companies like Learnvest, Wealthfront, Betterment are augmenting human financial advisors to help you build your 401k and investment savings faster.

The irony of most wealth management though, is that it’s only addressing 20% or less of your actual “wealth”.  The elephant in the room?  Your home.  A full 83% of an average American’s wealth at retirement comes from home equity!  US homeowners are leaving $100billion of wealth on the table, every year! …and you’re one of them.

This is much bigger than “just” refinancing.  When you start thinking like an “asset manager” with your home, a larger picture emerges that includes finance, home improvement, and rental potential.  It gets complicated, fast.  And, that’s why this new technology is your secret weapon.

Why settle for the “dream of homeownership” when you can also have a highly optimized wealth building machine?

About the Author

Ernie Graham

Ernie is a life-long technology entrepreneur that has been a leader at multiple startups and public companies. He took a year off from the technology world in 2001 which turned into a 10-year real estate career. He's been a top producing agent, a brokerage owner, and MLS director. In 2011, his startup SocialBios was acquired by Realtor.com where he led their consumer innovation lab to build the largest agent search experience on the web. In 2015, he co-founded Homebot to revolutionize the way Lenders and Realtors grow their business by empowering consumers to build wealth with the largest asset they will ever own.


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