Is Refinancing A Home A Poor Idea?

Suze Orman said, “Owning a home is a keystone of wealth -both financial affluence and emotional security.”

Dr. Sarit Levy is the director of marketing and advertising at Network Capital. She’s equally a subject matter expert,a faculty at NYU formerly University of Miami,a C-suite executive,and a thought leader. She was with Omobola Stephen on life well lived and she has deep financial and business insights to share on the subject of refinancing a home,investment, enterpreneurship,and personal goals. Here’s the excerpt.

OS: Can my audience meet you?

SL: Good morning every body. My name is Dr. Sarit Levy. I’m a subject-matter expert and enterpreneurship, innovation and marketing. I’m currently and still a professor at New York University formerly University of Miami,Director of marketing and advertising for Network Capital,specialize in multiple industries across business,expert in developing business and marketing plans as well for business and predicting the best performing firms in the US and then further for the NASDAQ .If you can predict what’s going to happen in your organization and how well it’s going to perform . Clearly, predicted in other areas as well. And I’m published in seven (7) journals around the world specifically in business enterpreneurship and marketing innovation.

OS: Can you tell me about Network Capital?

SL: Sure! Network Capital is an industry leader in the fintech space. Financial technology space . We specialize in refinancing of existing mortgages.As a direct lender,we certainly do all types of loans from conventional to vettering loans. Certainly,we definitely carve a niche for ourselves in the refinancing sector.

OS: Some people consider refinancing a home a poor idea. Now,do you have any contrary view about that?

SL: It’s actually quite the opposite and I think that it’s something that’s interesting. It’s interesting you bring that up.Many individuals don’t understand the process. They are not as educated . They are very excited in getting their first home but they don’t know what happens after that. And how do they reinvest money into their homes, remodel their kitchen or pay for their kids college education. And refinancing allows you to do that. It allows you to reduce your payment on a monthly basis. It allows you to maybe shorten your mortgage. It allows you to cash out. So,in essence,you end up sort of paying the same you are paying before because you are reducing your payment and you are able to cash out. I think there’s a misnomer there.A lot of people don’t understand especially the younger generation of monial market which is definitely a prime target market for us. They are not as well vast in refinancing as they are in purchasing their first home. Obviously, maintaining a home can be very very expensive so it’s important that you can reinvest whether it’s the roof or business remodeling or maybe you just wanted to take a really nice family vacation. And savings in your home allows you to do that. So refinancing is really a positive way of utilizing your savings and your equity and still maintaining payments that you can afford at your home.

OS: Great! How low is the current mortgage rate at Network Capital?

SL: So,at Network Capital,our bankers are really able to provide the interest rate depending on the parameters they are looking at to get finance or refinance rather. Currently,we have 2.25% APR,with 2.79 % sorry, 2.25 interest rate ,2.75 APR so our rate are really really competitive. We close loans as little as fifteen (15) days so that is really exciting. We are really really based on speed and accuracy when it comes to financial technology and I think that’s really important because the market changes so rapidly and you really wanted to get your foot in the door,close your loan and be able to cash out. Whatever thing you want to do with your money. And we really focus on that here. And that’s definitely a key. l would say,the key to our entire philosophy rather is for people to improve their quality of life and our company model is to live better and that’s what exactly we are trying to do. Exactly,to help people live better.

OS: I want us to talk about you. I know that you are a university professor and a serial enterpreneur. How do you juggle and balance these conflicting priorities?

SL: That’s a great question. That’s probaly an age-old question. Somebody once said to me,you live a life of ten(10) people. I’m a mom as well. I have two(2) daughters. One is in the college process now.She’s getting to university in South Florida.She’s almost 18. Very excited. And the other is nine(9) . So,I still have a younger one at home and I’m a single mom as well and that’s also difficult. To be honest with you,I think when you have the passion and the drive to do something,and you want to make a difference in this world,you do it. When you want to go in and loose weight,you go on a diet. When you want to better yourself mentally,you go see a therapist.And so,I take advantage of the resources around me and I use my time very wisely. I wake up in the morning and I don’t stop…(laughs) I go…go…go. I’ve been out of the house since 7’o clock this morning before I even get to the office to meet you and 80-90 miles drive to the office today. Yeah! And I got my little one off to school before that with the help of a partner. It’s quite exhausting but you have to have a good attitude and a good spirit . And I think that’s really really key in being able to excel in anything that you do.

OS: Can we talk about knowledge reciprocity and customer engagements?

SL: Absolutely! So,I love this concept of knowledge reciprocity and I had developed an article several years ago. I’ve been doing remote work for over ten(10) years. And I’ve done both hypolocal as well. But one of the things I had found was that the reciprocity of engagement between an individual whether it’s a teacher and a student or an executive and their staff or…A husband and wife…Patners. The reciprocity of continuing the relationship and encouraging that relationship is so existential to the success of each person individually and by improving that engagement by sharing knowledge,by accepting knowledge,by acknowledging what other influencers in your life might say increases performance and I did a study number of years ago,I took 400 students in different universities and what was interesting about that is,that none of these students knew nothing about me,or about the other teachers that were feature in other schools and every single students pretty much declare in their survey gather that when a teacher understood their margain,their verbage,their language. Like today,texting is huge.Using the same technology. When they are current and they are relevant with their students own resources and the things they are doing in their life,it becomes a means for the students to want to perform better and that translates into business…

OS: From your career base,can you share some of the patents you had facilitated?

SL: The patents. Yes! I’ve had clients that had developed business plans and marketing plans. Many people come to me with ideas because innovation obviously has a lot to do with that and within the scale I developed,one of the contributors to the best performing firms . And I studied over 1500 CEO’s in South Florida. Two(2) firms ; a gentleman from Harvard actually decide to take the scale to replicate it around the world in southern Jamaica,Surname, Croatia,Latin America and central Europe…

OS: What impact has the pandemic made on a busines.What has been the overall outcome interms of customer relations?

SL: That’s also a really great question. I’d say the impact on business is not quite what people are thinking. You see,the fundamentals of business don’t change.People work,robots work. There’s a bottom line.That bottom line feeds family and goes back into the economy. It’s really a very same similar structure to anything.When the the economy is making more money,of course,people feel the burn more when they are loosing . But the structure of business really doesn’t change. What’s important is still getting yourself out there from a marketing perspective at a time when many people can’t and finding creative ways and solution to do that whether it’s be a podcast. Whether it’s holding a home hosting event….

“Remember to celebrate milestones as you prepare for the road ahead.”

Nelson Mandela ,South Africa Leader.

Dr. Sarit Levy’s professional and expert insights on this topic is a must-have for the records. Her expertise was unparralled and you can listen to more of her interview here and click on E145: Time out with Dr. Sarit Levy.

Perhaps,you can connect with her here>>>