Home Sale Madness

This is Doug Hastings, VP of Moody radio and were thankful for support from our listeners, and businesses like United faith mortgage. Let's call it the couch cushion – this is the moment when you need a tip for the pizza man a few bucks for your kids lunch or you can't say no to the sweet eight-year-old and her thin mints you've got no cash and no other options but to tear apart the house searching for hidden money. It's Ryan from United faith mortgage and it's funny how we can usually find a way to scrounge together a few bucks, hidden around our house. Shame on you if it's from your kids piggybacks for many listeners, though there's enough money sitting inside your home to buy a swimming pool full of thin mints, home values have gone up across the country. The last few years, leaving many of us with a good chunk of equity tucked inside our homes that we could cash out to use for life. If you'd like us to help.

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The estimated value of one syllable recently was surprised by what you see sales of been going through the roof lately and I am Rob was the year ago home sales fell sharply due to the covert pandemic. Now it seems buyers are saying mortgage expert Bill really enjoys us today to talk about it that it's all your calls and questions 800-525-7000 800-525-7000. This is moneywise live for God's wisdom directs our initial decision. Well, our good friend Dale Vermillion is author of navigating the mortgage maze simple truth about financing your home for Moody publishers and will certainly be talking about mortgages today as well as home sales fill my friend welcome back to the program Rob so good to be with you.

As always, thank you so much, just blessed to be here with well looking forward to diving into this really timely topic and by the way, will be taking your calls throughout this first portion of the broadcast, specifically on homebuying and home mortgages. In light of what's going on in the housing market Dylan article caught my eye recently about a home that was listed for sale in Washington DC within a few days. Get this 88 offers 76 of them. All cash selling it for 70% over the asking price now.

Maybe that was an outlier, although I'm afraid maybe not too much of an outlier, but there's no question that something is going on with home sales. These days, so you been around the space for a long time. How would you describe, you know what I was a kid Rob we used to go to the sinkhole trout pond where I don't think they fed the fish and there was no just laying on top each other in a little pole of the kid with one little bait on it and they just all attack that thing that this is a feeding frenzy is about the best way I can describe it. You know we got an inventory challenge. We gotta huge millennial market out there that is looking for homes it it it is literally the craziest thing I've seen in 38 years in the business, but you can spend a lot of money on the way out of those trout ponds. If you don't understand by the pound and I guess that's true with housing prices as well. You can pay top dollar. In fact the case. I just mention 70% over asking price and you gotta be careful we'll get into that you mention perhaps the one thing you mention the millennial's that was causing this strong upward pressure in home sales and prices that talk a bit more about what is it about the millennial's and then any other factors contributing to single largest generation of of people that we've seen bigger than the baby boomers which really created that real estate market we have today.

And you know that they were a little bit late blooming and buying homes. But now there in those you know early 30s to mid 30s and they are all in this gig economy were there crating good incomes and you know what they are looking to buy you after that the pandemic were not people are working from home a lot don't want to look for places that you live where they would dictation that's created a whole big a surplus of buying behaviors you combine those things together. Plus the fact our inventory just low nationwide were sitting right now if you look at the inventory March last year March this year.

It literally the amatory today is 40% less than it was last year but demand is twice what it was last year. So when you combine all those factors, it creates that the market we have right now. Yeah, no question about it's just a bit will be taking your calls are you thinking about buying a house wondering if this is the right or wrong time. Maybe it's a refinance or securing the mortgage in the midst of all this. Whatever's on your mind today mortgage expert, Dale Vermillion would love to tackle those issues and questions. The number 800-525-7000 Dale, you mentioned the lack of inventory. Just give us a quick synopsis was that actually meet well. Normally what you look for Rod in this marketplace is the year supply of homes.

That's pretty standard word of 3.6 month supply at homes right now that that's 45% less than it was last year and again you got this massive event. Supply and demand is always your problem at any time you got limited supply and major demand. It drives prices right through the roof and that's exactly what Rubberstamped 2030 and 40 bids on property working homes now selling in 20 days when you think 60 days. Everything is accelerated down when I visit I can create a real challenge, especially if you don't have a home to sell the year to get top dollar on and you're trying to enter this market.

Perhaps you just outgrown your home looking to make a change we want to talk about how you can navigate this what you need to know going into a purchase and is even still time to refinance all that more Dale Vermillion just around the corner. Here's her number 805 five 7000. This is moneywise God's word in such financial lives. They were smart to come just to be with us on moneywise live whatever you want to talk mortgages in the housing market will we look for a good friend, Dale Vermillion, the author of navigating the mortgage maze simple truth about financing your home were talking today about this incredible housing market until just before the break you were talking about some of the factors leading toward the strong upward pressure in home sales selected inventory we got incredibly low interest rates. Still, we got the millennial's that are in many cases reaching their 30s there wanting to settle down there.

Having kids looking for fume a bit more space maybe some green space around the house and you know the trend toward working remote, I suspect, is contributing as well because if you're in a cramped apartment downtown near big office building. You could move out to the suburbs and work from the backyard right yeah yeah and and as I mentioned earlier, people are looking to live in those markets are they like dictation because now with all his work from home and I just read a study yesterday that said that there and to spending 40% of the workforce in the US will be there full-time permanent or hybrid part time work from home in the coming years.the massive number and that's been a change in real estate market also interesting. Do you give in all these things do you think the strong sellers market will continue through the year, you know, I don't know that will continue always to the year. The one thing I've learned nothing else all these years is things are always cyclical. Whether it's the real estate market or if you know the regular Wall Street market or the economy and what goes up must come down.

We know that but but I do believe with rates low like they are and to be in the low to mid trees were anticipating this year. I think were contingency a strong gorgeous market drop your just because of the demand letter just to be clear, this is different than 2006 2007 because we change the lending practices that are more conservative.

Today we don't have all the speculative building in fact is you said it's the opposite way about a lack of inventory so this is not the bubble that we saw in 2008. Based on what we can tell right now correct that is correct that now you know a lot of people are talking about bubbles and I would say that 2006 rate was a complete anomaly that was quite quality was the problem that greeted the 2008 mortgage meltdown. We don't have that happening right now but I believe we do have some many bubbles happening in the market from a country without just going exceptionally high in property value increases over the last several years. At some point but just out one incomes and you're going to have to have a correction. You have to have that there's no way around that.

But I would tell you that the one thing that most concerned about today is there markets where people are just getting so much over asking price that they may never see that value back, very careful about that in a marketplace like this that's good advice.

Let's go to the phones because Dale, as you said, with these low interest rates continuing there still a lot of folks that perhaps are candidates to refinance the didn't refinance last year Connie's in Fort Myers and Co. you're wondering about refinancing, tell us your situation here by cutting wondering 28 and and out. I will call anyone out with the current APA number four deal with this weizen did you say you bought three years ago was it a 30 year mortgage at the time yet OKC of 27 years left and you will see yourself staying in this home for quite a while.

We okay Dale your thoughts. Well if I hurt your right you said 4.75.

Certainly it would make sense for you to refinance the other question I would ask you, do you have any kind of mortgage insurance on the because one of the big benefits of this marketplace as property values have increased so dramatically, so fast that a lot of people who bought two, three years ago and maybe you have 10% you put down so you have to have mortgage insurance you may have about one that in the property value increase and be able to eliminate that as part of your refinance without additional savings are great and here's my advice if you got 27 left look at a 25 year maximum term when you refinance lotto letters will have that.

That way you get the benefit of not just lower payment lower rate. Maybe getting rid of mortgage insurance, but you also cut two years off right away and start to accelerate principal reduction that makes sense, yet we are not right.

We were able yeah what I would do as I would have them look at the numbers I'd be willing to almost bet based on today's rates which I think today it's 2.96 is the average weight on a 30 or more like tree .27 on a 15 you look at those rates convert 4.75, 190,000 laundry bill at Creighton savings and be able cutting term while you do it so I would certainly help him at least put together an offer cost nothing for them to quote you what that won't look like. Just make sure you keep the cost down on that. Make sure you're not paying a lot of fees on that if you do that you're in good shape. Very good.

Connie thanks for your call today on to Tallahassee, Florida, just north of big Kelly, what's on your mind. Not that we got about seven years ago and with that market as it is today. We were thinking about selling.

We don't have to sell that with again, with the market that my parents were some comparables in the neighborhood that were around the same side thing a type thanks and they are listed for about 375 380 back to her realtor and he is suggesting that we lift our 90 X and probably I'm sorry yet to 96 and lock with 90 the County kind of load any weight paid 154 and seven years ago. We have 55,000 until it we figured out our real estate fees and what I believe capital gains would be greatly out 34,000 and that kind of wondering if timing might at least take listed to target different realtor, is he realistic talks well at. There's no question in my mind that you should always get a second and third opinion went when you're looking at these things, particularly when you look the comparable sales are much higher than what you doing and what comparable sales you done the right thing because comparable sales are always the first thing in the best thing to look at the key is they must literally be comparable and they gotta be as recent as possible, especially in a market changing as quick as this one, so I would definitely make sure that you get a second opinion on that.

Maybe even 1/3 if you need to at least get a second person take a look at put some eyes on it seems to me like we can get more than that, based on everything you just told me.

Not that that's rude but I would take great advice. You know, I would certainly want to know why yours is valued so much lower than the comparable similar property type and I think you still said you know you need to get to couple of professional opinions, probably two or three and make sure that to your factoring and what kind of market were written because less than you want to do would be underpriced to them and give you a bidding war going you want to come in with a solid price, not words overinflated but where it can be backed up based on the data. The good news is that data is available every professional is access to the same information and should be able to get you really close to what this is really worth.

We appreciate your call today. Yeah Rob sorry want to mention look at the inventory to all those kind of homes that market. If you find there's very few homes listed that even a stronger reason why that seems to me that that's under the price you should be offering great verse for this property.

1522. Plans fail for lack accountable, with many advisers they succeed. Remember the that's great wisdom.

Great advice.

There's a lot more to cover here as we talk about the housing market. We talk about the mortgage market. We talk about where all this is headed and what you need to know is you think about buying and selling refinancing perhaps how you position yourself to fund a purchase what you need to know going in terms of qualified given the sellers market all that and more with Dale Vermillion around the corner staying with us right moneywise joining us today moneywise live for God is your financial life in this part of the broadcast were talking with mortgage expert, Dale Vermillion. He's a good friend joins us frequently is the author navigating the mortgage maze. The simple truth about financing your home for Moody publishers and Dale is with a been talking this is interesting. Sellers market that we find ourselves in as a buyer going into purchase. In this kind of market.

What we need to know from a financing standpoint so you're positioned assuming you've got the right down payment. We would say 20%, assuming you're not overpaying beyond market value, at least in a reasonable sense, right, and assuming this. The resulting mortgages get to fit in your budget and we typically used 25% of your take-home pay no more than that for principal interest, taxes and insurance what they were checking all those boxes. What we need to know to be ready from a financing standpoint to be a good candidate to actually get the home. Yeah, great question Rob.

So one of the things that is a rule of thumb in a market like this is your role is to position yourself as the very best buyer to the seller.

You can be dollars don't sell to the highest bidder to sell the strongest buyer.

So if you're financing. Couple of things number one commit some time to be able to do this, don't just think you're going make an offer and just go about your business.

You almost like being in an auction. Nowadays you gotta be there because there could be multiple offers multiple bidding competitive bidding. Europe might be contacted multiple times, be prepared. Make sure when you go to your lender you aspirate preapproval that is pre-underwritten, not just a prequalification because the realtors today are only taking those offers.

In most cases, were they verified your income verified your assets verified you know all of your credit and all those things. That's a very important thing to do and then remember it.

If you want to buy a home. Whatever you are qualified for. Don't go in an offer at the maximum qualification because sometimes you need some additional room because you might have to bid a little bit higher now very judicious about that. And why not overbid on the property but leave yourself some room and that and larger down payments and larger earnest monies will put you in a better position than other buyers and help you to get a better opportunity and having more down is always a good thing to do anyway if you have the money back always based on making sure you still plenty of reserves left. You never want make yourself then on that. But if you got plenty money. The bank make up little bit more down and talk your lender about closing in 25 days versus the traditional 30 or maybe even 20 if they can do that.

That also put you in a good position. That's great advice.

When Julie and I bought our last home we may or may not have submitted with the offer a handwritten letter about how excited we were that our kids were going we could picture them in the backyard on the swing said again.

We may or may not have done that. Is that a good you know it is a good idea except for two things. Number one I don't think a lot of sellers that my kids are really cute though Dale and tell them you are your number killing some dates that actually could be a violation of StumbleUpon regulations and work. There's a lot of talk about that right now so terrible about very good.

Let's go to Youngstown, Ohio 10. Thanks for holding Sir. How can we help you. I can either all right. It looks like we lost him temporarily will try to get him back on. In the meantime, let's go to Illinois Illinois Brock are you with us. I sure yet.

We have been living in the last seven years our home built in 1950, so it's really old country of great location. We really want to build a new home right got to top it off the land. All excellent critical data and build exactly the right spot. However, the prices of woman right now really 2020. It will better off waiting until the price of the lumbar kind of start to go down but the interest rates are good kinda like to hear your thoughts on if we should just continue to move forward with this plan. Yeah Dale thoughts well.

Cannot catch 22 because you said some important by the way, I don't know. I love your question, I love your name all the sons blocks left a good one that yeah the Catch-22 is your right. Rates are really low right now and we don't know what rate you knew and we don't know what lumber is going to do the projection is lumbar cost should go down in the coming years, but nobody really knows that what I would say is if you can get top dollar for your property today what you can right now and and you know that and you can start the process moving forward and get those will reach those two things are totally in your favor and you know about those that would tell me this may be a good time to continue moving forward. I get the pricing set up and maybe you might it might work out. By the time you actually start building those lumbar cost actually did drop I think you're in a good position right now to make that move you.

I think that's exactly right graded license is certainly what we are seeing right now. Most folks thinks is temporary. In terms of specifically some of these building materials you reference lumber.

That's one of them that has gone through the roof we seen it on of renovation still have a way and additions, especially as people of been home more over the last year. They haven't been traveling and vacationing so they been putting money into the family house seven. They have an annoying good thing is coronavirus is lumbar cost got much better recently so that should go down very good. I want twisted Dale's arm and asked him to stay around for one more segment. He's agreed to do it so because just for a moment will become backward and continue to act all that's going on in this housing market, talk about how we can apply God's truth. Your situation is financed by ultimately get completely out of debt and everything you need to know. Plus your question number 805 two 5000. This is moneywise live just think about managing money. The largest purchase. The most make in our lives is a whole, especially in a market like today what is God's word said about how we should think about that. Let's go back to the phones as we continue to be joined by her friend Dale Vermillion, author of navigating the mortgage maser good friend and resident mortgage expert to go to Northwest Georgia Tina, thank you for your patience today. How can we help I don't have any that we have three property we own. When looking at perhaps selling one on but we won't buy another one on the lake near us. We recently bought a small boat used that but we're 66 and 70 and a 30 year mortgage like what we need to cut we buy another house will probably sell it within the next 10 years in the boat. So the next 10 years and 30 year mortgage. We both have credit scores over 800 ringgit shape got $65,000 put them in the next town where thinking that a HELOC would serve our purpose better than the 30 year mortgage. But my real question is, I talked to my bank about the HELOC. There's one that suggested a 30 year mortgage with closing cost of over $7000. The HELOC is at 2.5% in the closing costs are right over thousand dollars. That seems the way to go.

But during this whole conversation Hamlin program up now about the HELOC. Their introductory rate for one year for people good credit is 2.5%. That's great, but now in this home rates continue to go down and changed to camping the coming why that description. Well, that's why they call it introductory what you got is the right, but I would not recommend HELOC to be honest with you, you could do a key loan or you could do a 15 year mortgage that gets reached down and even below 2 1/2 on a fixed rate base is the problem with any kind of a home equity line of credit is that you got an open ended a balance you got an adjustable rate on that thing and it is in the truck and rates are projected to go up, not down this year so I would really recommend looking at a fixed rate, fixed term loan 15 year maximum. If you can afford that something you can you guys really quite financial situation. We all want to be you guys for the great job done.

That's your approach.

I would take with it and that would be a much, much wiser.

Tina doesn't make sense that makes sense… It's been such a frustrating process would been through to all person contracts phone through because the inspections went so badly that so it's been gut wrenching.

I can imagine will shop it around though to get those closing costs down. Dylan I don't love it if you'd stay under 2% of the mortgage value in closing because so you want to go to bank rate.com. You can check with your local bank but at least go to bank rate.com and get a couple of offers from whoever has the best loan programs right now with the lowest rate for a 15 year fixed with the lowest closing costs.

Don't let somebody talking of buying that rate down. You should be able to qualify for the very best programs were that stellar credit score and all the assets that you have so I'm excited for you and it's that that little boat sounds lovely this time of year in Georgia so that we appreciate your call today very much.

Let's head way north of Northwest Georgia to Chicago, Illinois.

Tony can we help user Michael I'm one of the house owners that the market about a week now and my plan is eventually to money is left over after paying off going completely debt-free also have a left what what what that monies say that, but still works for me because eventually I do want to get a rental property for unit but I don't feel this is appropriate market to purchase utility is the timeline on that and how quickly do you think you'd want to be able to redeploy this money less than five years. It may be because I think the market will will be by that time and the only option I had now was one of my credit unions to pay monthly dividends on making very little, but I feel you know I can make it work for me a little more. Yeah, my only concern is really investment market.

This just an incredibly on the tear. On the upside, the last 12 years, especially the last couple years and you know I see the returns beginning to to soften, even though word coming out of the pandemic with incredible growth economically with strong earnings. I think the markets a bit ahead of itself, and if your timeline is less than five years. I wouldn't even go into bonds because as interest rate set up bond prices or to fall, you may not love this idea, but I'm going to suggest you go into an FDIC insured online high-yield savings account so that when you have the money ready when you want to deploy it and you don't find yourself in a position where the market heads up the next year and then we get into a prolonged downturn in your him to sell at a loss and you don't have your principal available so that's good to be my best advice for you. Tony just given the timeline of what were talking about here and how this market has just been incredibly high and probably somewhat overvalued just given inflation in a few of the other headwinds we have coming our way, so hopefully that's helpful to you. Let's quickly go to Miami, Florida. Stephanie what's on your mind. I'm happy I got go and try to get back to Menton by one year I only going to be there for a long short time still buy something five years or less in Tallahassee Florida. Yeah, you know, that could be a little tricky right now because again for the market crazy. So your pay top dollar were not sure how much longer those prices are going to hold you know you'd like to say yes it's got go up but in the next two years. I'm expecting a correction in the marketplace. So if you can buy at a very affordable amount that is less than what you would rent then I say yes. It's a good decision.

Could you make the investment return you're going to get some growth out of that property, it might flatten out ring go down a little bit next couple years, but you should still be okay as long as you're buying right start very good.

Stephanie, thanks for your call. Let me ask Ronnie's question he's been holding in Akron. I don't think we'll have time to get to it, but he wants to know he's been approved for a VA loan Dale of up to 125,000 he said should I go ahead and get the full amount which you advised somebody in that situation while in use per 425,000 and make important budget and at the VA loan is a veteran that probably the right decision for okay and even if he doesn't have any equity in it. Help.

How did I miss the hunt well is it could be he's asking should I get 100% financing if I qualify all on-site. I'm sorry but you said dollars hot. I am not a fan of hundred percent financing. We talk about this only because we want to see our our customers put some money into that property. I know to be a program does offer that what I would do is I would try to get some money down on that house, but again market been so good to go pretty quick and you build equity faster. Very good. Hopefully that's helpful to you. Go ahead and take up to that 425,000 Ronnie is it's it's in your budget but make sure you have a down payment would recommend 20% daily. Final thoughts for somebody who's looking to buy a home right now. We got about 36. Just remember the old saying the marketplace don't look all the home and the price range you want location you want that you want and find I start making offers on the one you really like wait for the purpose of my long and thanks to do with this is book is navigating the mortgage maze. The simple truth about financing your home, but have you with us today. Moneywise, live financial decisions moneywise live his listener support.

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How can we help you sir yes working explaining when all the windfall elimination. So this affects about 3% of Social Security beneficiaries and essentially what it is is a recognition that you are receiving a pension from a job in which you didn't pay Social Security taxes and so if you're receiving if you have that kind of noncovered pension which typically come from state or local government agency that doesn't withhold FICA payroll taxes then if you collect such a pension. The windfall elimination reduces your Social Security benefit by up to half of the amount of your pension, but it's proportional so the more years that you had substantial earnings from Social Security covered work were FICA taxes were paid, the less the provision cuts into your benefit. But again, if you are one of these, 1.9 million Americans who have that type of pension as at least a portion of what you're receiving. That's where that's going to reduce the size of your Social Security retirement benefit of the best place to go to calculate the impact of that is the so security ministrations website SSA.gov.

They have a windfall elimination provision calculator that will help you determine the impact it may have on your benefit, so I'd had over the website. If you haven't used that already, but that's essentially how it works in you again. You would just need to put in your information to determine how that might affect you to set make sense that it just was not short of Kodak's three factors you got yeah so well the others a number of factors that play into that. That's why I would use that calculator.

Just so you can understand based on your situation. What you how long you've been paying into the system.

What types of income you had and what portion was a noncovered versus a covered type of work will determine ultimately, how that that payout that you're getting from that pension will cut into your benefit, so I head over there if it's unclear to hear you have additional questions going schedule a virtual meeting with somebody from SSA.

The really easy to work with and I think they give you exactly the information you're looking for. We appreciate your call today. Let's head south to Fort Lauderdale.

Winston, thank you for your patience.

I can we help user for 34 years and I went looking down I the about buying and selling as we try to downsize. Yeah well I like the idea Winston the view downsizing in this season of your life. Perhaps have more than you need from an upkeep standpoint and that you can take some money off the table. If you still have debt, you could pay it off. If not, you just reduce the overall expenses that Juergen have to fund you during retirement. You're the best way to go is to first of all I think begin to think and pray about where the Lord would take you both in terms of what location, what size home you need or townhouse and what you would want to spend what fits into your budget because remember you if you been looking over the last several years.

Just got to thinking about this loosely.

Things have changed quite a bit because were a sellers market with low inventory and housing prices at their peak so you want to come to take a fresh look at that just in terms of what is actually gonna cost you to get the smaller home that you're looking for. Doing some of that research ahead of time will put you in a really good position so that when you take the next step which is to get a couple realtors to come in some professionals to find the one you want to work with your you can be real clear about what you're ultimately looking for then you want to. I have find someone that can represent you, help you determine what the asking prices for the sale of the home that you're in now you want to go ahead and list it and I keep in mind you know your probably especially in this market going to want to make sure you sell this property first before you go out and look for the next one. But you're gonna need to deal with that count.

A gap in the middle you do, you need to rent something for a period of time. Is there another family member you could stay with while you're looking for that next property or do you have the financial position to actually go ahead and make that purchase. Once you go under contract with the sale. I think all that you have to determine, but I'd start with your homework on determining exactly what you're looking for what it's going to cost them find that professional who can represent you get this house sold and then you'd make the move and look for that next purchase this at all make sense to give them so you have actually strengthen what I thought the process and going forward. Good. Well, look for somebody in your area. Perhaps a good godly realtor who specializes in your neighborhood or at least your part of town there in Fort Lauderdale.

You could start your local church and asked for referral or you could just drive around, you know the neighborhoods around you and see who has the most signs because that's probably the person who does the most business in your area and could help you get this sold quickly and for the most value. Get that's not the only criteria. But that's at least one criteria to consider, and that ultimately want to have somebody you feel really comfortable working with. But all the best to you in the days ahead. I'm excited about what God is doing in this new chapter of your life as you a downsize and ask him what's next and we certainly appreciate your call today on the Birmingham Alabama Aaron, thanks for your patience.

I can help you yeah I'm a veteran with a current VA mortgage and get a lot of calls to refinance on their on our RAL and it definitely will reduce my rate lease about 1% think that the light thing to do at this time. Yeah, you know it's it's not a bad thing at all because they're easier to navigate than the regular VA loans.

We basically this is what's called an interest rate reduction refinance loan and it's his VA streamline refinance. So it's a simplified loan with relaxed qualifications for service members and veterans doesn't always require VA appraisal or to go through a typical VA lender either underwriting process which saves everybody time and saves you paperwork and fees so you use this to refinance one VA loan into another and it's going to be.

If it goes through and make sense. It would be an improvement on your own. Your old VA loan so you get the lower rate. The lower payment or both. And you can also move from an adjustable-rate loan. If you have one to a fixed rate loan so you know it's a win-win. I would just feel compare what they're going to be moving you into versus what you have now and remember we want to we don't want to extend that term no matter what happens, so it's not just about the rate and the payment we want to make sure that were shortening the overall payback. But this is a good thing and so I would. I would definitely check it out. We have time for just one more. Louise, how can we help you today hello call about that we could talk about couple and how about their finances bending and think that that matter and I realize you have to be in the 14 years that a lot of the things they were talking about in a negative manner, I would. Note I realize the cause of the breakup of my marriage is helping recovering go for after being so destructive in a relationship with finances. Yes, well, keep in mind we all are saved by the blood of Jesus Christ. We are all sinners and it were all gonna make a lot of mistakes and that includes this area of money and includes marriage but I think it's all about first placing our trust in Jesus, accepting his forgiveness of our sins and then turning and making a change hundred and 80° turn as we repent from whatever it is we have in our lives and I think first is just recognizing Lord. Here's were in an area where I falling short and I want to be found faithful moving forward. And so I need your wisdom and I want to submit myself to your Lordship in this particular area of my life and make a change and to commit to being completely honest above board recognizing I think. First, that God owns it all. Which places you in this role of steward or manager of God's resources and then money becomes a tool to accomplish his purposes, and I think the extent to which we bought into a false sense of identity that are things define us or we need to have certain possessions or spend money in a certain way to maintain a proper status, or to feel good about ourselves means we miss place where our value ultimately comes from that's from the Lord.

So that's the starting point. So I just asked the Lord to be with you as you try to move forward and we appreciate your calling and transparency today.

Louise means a lot to do it for us today. Thanks for calling and listening moneywise. Life is a partnership between radio and moneywise media think Jen Dan for their assistance today. Thank you for being here for you tomorrow, back and join us