How To Spot The Cancerous Employee

When a body has a tumor, sometimes it’s simply an annoyance to remove. A quick surgery to return your body back to normal. Other times, it’s cancerous. If not dealt with promptly, it will grow and spread and infect healthy parts of your system. Office organizations, at times, will encounter one of these “cancerous” employees – someone who brings down office culture and infects their coworkers with negative vibes, therefore inhibiting productivity. But how do you spot one of these problem employees before it’s too late? Here are a few warning signs:

1. Gossip – When a new hire is brought on and suddenly there’s a gossip train in the office, this may be a sign. Gossip is natural in many settings, but in the workplace it can be toxic.
2. Excuses and blame-shifting – We all make mistakes, it’s natural. But to progress, we own up to them. If an employee can’t take the blame for their own mistakes and instead shifts it to other repeatedly, the team as a whole will suffer as trust slips away. An occasional excuse may be alright, but continuous scapegoating is cancerous.
3. The anti-cheerleader – Occasional complaints are expected. But constant negativity about the company is a no-go. Your company may need to reevaluate its culture standards, but an anti-cheerleader who seems to discuss negative aspects of the company often will bring down your team, especially new hires.
4. “That’s not my job” – Oh, really? If an employee isn’t willing to help out others, they won’t be good for the company long-term. Especially in small organizations, employees must realize that being a team-player means wearing several hats.

Once you’ve found the source of the cancer, it’s imperative to remove it quickly. You may be able to remedy the situation with a one-on-one talk. However, if the employee continues to not remedy their cancerous tendencies, it’s time to let them go. Have you dealt with a cancer employee recently? How did you handle it? Let me know in the comments!

Four Ways To Save On A Mortgage

With more individuals, families and businesses moving to Houston, it’s no surprise that the real estate market has boomed in recent years. However, the market can be fickle and unforeseen circumstances arise that sometimes make it hard for mortgages to be paid. The following four tips can help individuals and families save on a mortgage.

1. Add an extra annual payment:
   By adding an extra payment to the principal balance of the loan, it helps to reduce the total amount owed quicker. If done regularly, this can shave years off the loan and reduce the amount spent in interest charges. However, this doesn’t mean a payment can be skipped.
2. Modify the existing loan:
   If all mortgage payments have been made on time and are consistent, there is a possibility of a loan modification. Usually, a bank will contact the individual paying the loan with a potential loan modification, but there are also ways to pro-actively seek one. Contact the bank that oversees the loan and inquire about modification options. Be sure to ask if that particular bank still owns the mortgage loan. If they don’t they can’t modify the loan. Inform the bank (owner) of the loan of any financial hardships (if any). Assemble any financial documents the bank may need from you – including two pay stubs, latest W2, K-1s and any investment assets. If a bank puts off the request, don’t stop contacting them.
3. Set-up a bi-weekly payment plan:
   Many lenders won’t accept partial payments, so instead, have half of the payment automatically transferred in a savings account every two weeks. At the end of the month, have the money transferred to the lender. At the end of the year, 13 payments would have been made instead of 12.
4. Refinance to a lower interest rate:
   There are many reasons why a loan may be refinanced, so be sure to calculate all payments and potential savings before making this decision. A lower monthly payment comes with a higher interest rate, resulting in more spent. If an individual is planning to sell their home in a few years, it may not be worth refinancing. Getting a lower interest rate may not be the best decision for individuals well into paying back a mortgage because it will add more time for the payoff, but individuals who aren’t that far won’t see much of a change. 

These are just a few ways to save on your mortgage. Be sure to ask questions and not accept the first loan that comes along. Understanding the details of a major decision like this can make the difference between saving money and losing money.

Six Myths About The Mortgage Industry

It’s graduation season and now, more than ever, there is an increase in the amount of college graduates moving to metropolitan areas. Houston is near the top of the list of cities growing with these young professionals, and this age group is the main force behind the housing marketing in 2015. However, many of this new generation still believe old myths about mortgages, making the home buying process more difficult for them. The following are the six most common myths regarding mortgage lending.

1. A 20% down payment is necessary.
   There are many options available for new homebuyers (or even those who have already gone through this process). There is no need for a large down payment, but keep in mind, the lower the amount offered beforehand, the higher your monthly mortgage payments will be. 
2. It’s hard to find a lender.
   Many homebuyers believe lending requirements are tough. Your financial situation does play a part in the home buying process, but be sure to speak with a reputable lender about low payment options and always remember to get a second – and third – opinion.
3. Buying is always better than renting.
   On average, it takes about 5-7 years to break even with the costs of buying a home in comparison to renting, so be sure the amount of time spent in a home with be at least this long. 
4. The 36% total debt rule.
   Many lenders follow the 36% debt rule – if a potential buyer’s total debt is less than 36% of their total income, they can afford a mortgage payment. Instead of following this rule, track annual spending. Save at least this much toward a down payment to see if a mortgage payment is possible. 
5. There’s no rush, because the rates will stay low.
   There is no one entity that controls mortgage rates. The rates change daily in response to various economic events both nationally and internationally. With the growth of the economy, mortgage rates may rise as well. Don’t be afraid to begin the buying process.
6. A 30-year fixed-rate mortgage is the best choice.
   The 30-year fixed-rate mortgage is the norm, but this doesn’t mean it’s the best choice for every buyer. It depends on how long a buyer plans to live in the home – sometimes this is five years or ten years. If a 30-year mortgage is agreed upon, buyers could loose money from higher interest rates.

As more young professionals move to Houston, the more potential buyers need to know truth from myth. Be sure to know the facts before agreeing to a mortgage that isn’t appropriate for your budget or too lengthy for your lifestyle and career. Lenders know buyers aren’t perfect and will help find mortgages tailored to your needs.

30 Year vs. 15 Year Conundrum

Buying a home is one of the most important financial decisions of your life. Knowing and understanding which home mortgage loan type to choose is critical.

The first step is choosing the right type of loan. Fixed-rate and adjustable-rate mortgages are the most common, but there are also Veteran Affairs, Federal Housing Administration, balloon, interest-only and reverse mortgages. Thus, the best choice will depend on your financial position, the state of the economy and your willingness to take a risk.

There are several questions you should ask yourself when deciding on a loan:

1. How long do you plan to be living in that particular house?
2. Are you willing to take financial risks?
3. Are there restrictions associated with the loan options?
4. Are there any penalties you will incur?

Below is a quick rundown of the mortgage options you will most likely see:

30 Year Fixed Rate Mortgage

1. Helps you purchase a more expensive home that meets the families real needs, and allows you to pay for it over time.
2. Has an increased tax deduction because you’re paying more annual interest.
3. Provides flexibility for families with fluctuating monthly income by allowing them to pay more or less based on their monthly cash-flow.

 15 Year Fixed Rate Mortgage

1. Homeowners are able to pay off their home faster while also earning equity faster, which helps support their overall financial plan.
2. Homeowners will be able to save interest, which adds up significantly over 30 years.
3. A 15 year mortgage allows families to align their mortgage with significant life events such as retirement or a college education.

At Zeus, we offer a customized mortgage term, which allows families to pick their monthly payment first and their term second in order for the mortgage to fit your needs. Also, some homeowners have a fear of refinancing due to not wanting to start a 30-year term all over again. However, with our customizable terms, you can have a lower interest rate and a lower monthly payment. For example, a family who has already paid their 30-year mortgage for four years can simply use out automized mortgage to refinance for 26 years while lowering their monthly payment and/or interest rate.

I Agree With Foreclosures: Buyers Should Pay Their Bills On Time

Life is a game of circumstance, chance and decisions. Let’s face it, people sometimes make irresponsible decisions and are then surprised or devastated when the consequences of those bad choices come to life. The most common bad decision I see is buyers signing up for mortgages they can’t afford or can afford in the beginning but then spend their money on trivial things. Who needs to pay their mortgage payment when they can dine at 5-star restaurants four days out of the week?

Foreclosures are no laughing matter – they ruin lives, lifestyles and livelihoods. The most important thing to remember in these situations is that a promise was broken. Many people know they can’t afford something, but sign anyways thinking that the odds will be ever in their favor. Nine times out of ten, it won’t be.

I can’t stress enough to do your research and evaluate every detail of your budget before agreeing on a mortgage loan and interest rate. If you know you’re a frivolous spender, do yourself a favor and think long and hard before entering a binding loan that can potentially destroy your life. A new wardrobe is not worth loosing your – and your family’s – home.

Buying a home, and with it entering a mortgage, is one of the most important financial decisions of your life. You may think you’re ready for the commitment – but are you?

3 Easy Ways to Pay-off a Mortgage Faster

The Houston real estate market has never been hotter! This is great news for families who have been able to earn more equity, get top dollar and maximize their profits from selling their homes. For families who want to keep their home, try using one of the following tips to pay-off a mortgage faster, help save thousands in interest expense and align home equity with significant life events such as retirement or college education.

1. Adding in an extra payment annually:A mortgage is a big undertaking - everyone dreads paying it each month. Homeowners could potentially save over $45,000 in interest and cut down the length of their mortgage payment by about 5 years if an extra payment is added in annually. Be ready to tighten budgets, and to spend an extra $100 a month on a mortgage payment. These extra $100 payments will be applied to the principal amount, and cut the loan little by little.
2. Set-up a bi-weekly payment plan:Many lenders don’t accept half payments, so try to set up a bi-weekly payment into another account. Put half of the payment in a savings account, then pay the mortgage lender from that account. This may sound a little crazy but by doing this, there are 13 full payments made instead of 12!
3. Refinancing to a lower interest rate:One of the most common ways to lower a mortgage payment is to refinance because it helps save on interest payments. There are usually fees that go along with doing this, but individuals can recover these after some time. By refinancing, especially in today’s economy, an interest rate can be lowered. Never forget to check if other companies can offer a better rate!

By using one of these simple tips, a family could save big on their mortgage by paying-off their mortgage faster, without sacrificing their lifestyle. Think about the type of mortgage currently being paid and how it can affect all financial aspects over time. These do not save everyone the same amount, but they do work for everyone.

Zeus Mortgage Awarded the 2015 BBB “Award for Excellence”

Zeus Mortgage, a leading mortgage lender, announces the company has officially been awarded the “Award for Excellence” by the Better Business Bureau (BBB) for the third year in a row. The BBB Education Foundation will honor BBB Accredited Businesses and Charity Partners that maintain a superior commitment to ethics and overall excellence and quality in the workplace.

Zeus Mortgage is one of the fastest growing mortgage companies in Texas, comprised of a team of experts who are regularly interviewed by major television networks, such as ABC, SBC, FOX and CNN, for their extensive real estate market knowledge. In addition, Steven Kaufman, CEO of Zeus Mortgage has been featured two consecutive years in the National Professional Magazine as one of the top 40 most influential mortgage professionals under 40.

“Receiving recognition for our efforts is a true honor, as we strive to provide the best service we can for our clients,” stated Steven Kaufman, CEO, Zeus Mortgage. “Being named a finalist in such a respectable awards program lets us know we are on the right track and we will use this incredible honor as a stepping stone in our future endeavors.”