Sub-prime
Mortgages
We hope you
find the Fall KMS Client Quarterly informative and timely.
As you may
recall, our Summer Client Quarterly discussed some of the issues surrounding
sub-prime mortgage problems. We
found the article, “Gauging the Fallout from Weak Housing Markets” most
enlightening. Unfortunately, with
the excitement of our many announcements that month we failed to give the
article mention. Of particular
interest in the article was a chart showing how American’s own their
homes. We were surprised to find that
35% of all homeowners don’t have mortgages (that was higher than we would
have thought). We also found it
interesting that of the homeowner’s with mortgages, only about 8% are
classified as adjustable sub-prime mortgages. With all the news about sub-prime
problems hitting mortgage companies and the rippling effects on our economy, we
would have guessed that the sub-prime adjustable rate mortgage sector was much
larger. Perhaps that article provided
a little different perspective than the one you’re getting from daily
publications and nightly news reports.
Our current
issue of the Client Quarterly continues the discussion of timely economic
issues, with articles like “Credit Markets Stare Down
the Debt Supercycle…” and “…and
the Fed Does Its Thing.” Also
included in this issue, some good news, retirement savings have grown and some
progress on fighting identity fraud.
Mark your calendars
for
Another event to watch
for… For
a long time now we’ve been involved in assisting our clients with their
estate planning, by working with attorneys and CPA’s in their use of trusts. We have identified a corporate trustee
who will serve as current or successor trustee with unbundled fees. This would allow the client to maintain
investment control. We will be
announcing developments on these trust planning services in the near
future.
In the
meantime, if you have any questions or concerns, or just want to call and say “hi”,
we always look forward to hearing from you.
Securities through KMS Financial Services Inc.
520.884.7550
jpw@financial-architects.com
3971 E. Paradise Falls,