Patience pays: What happened to the mortgage market and why it will get better - We Are The Mighty
MIGHTY MONEY

Patience pays: What happened to the mortgage market and why it will get better

The decade-long month of March 2020 brought many swift changes and confusion to the financial industry, especially mortgages. Just a few short weeks ago, mortgage rates dropped to a 50-year all time low. The market was flooded with refinance applications as homeowners across the country were scrambling to capitalize on the opportunity to save up to several hundred dollars of their hard-earned money every month. Refinance applications were pouring in at a pace 168% higher than last year, forecasted to well exceed one trillion dollars. While this sounds great on a consumer level, it’s what happens behind the scenes that caused these rock-bottom rates to disappear almost as fast as they emerged.


At the dawn of the Coronavirus threat in February, many were concerned about what would happen with the economy. In a protective measure, investors began selling stocks in exchange for purchasing government bonds due to their track record for being more stable. The influx of bond purchasing drove up the price which, in turn, affected the mortgage rates. Refinance applications were pouring in at levels that companies simply could not support, and the law of supply and demand kicks in.

Lenders are forced to slightly raise rates to slow down applications until new loans are closed and sold in the secondary market, giving the lenders the money to start the process all over again. Consider it the mortgage market’s own version of “flattening the curve” to give some stability to all working parties behind the scenes taking care of all moving parts required to close these loans.

Patience pays: What happened to the mortgage market and why it will get better

When coronavirus strengthened its force, economists realized that the impact could be so severe that it could cause a large number of people to not be able to afford their mortgage payments. Unemployment numbers were being predicted to exceed those of the Great Depression and the Great Recession. Companies and people were concerned about liquidity so now stocks and bonds were being offloaded in exchange for cash. This perfect storm meant rates would go even higher.

High mortgage rates in hard economic times are no good at all, and the government knows this all too well. The Federal Reserve swoops in with a bailout, including their promise to buy billions of dollars in mortgage backed securities – daily. This, in theory, should restore confidence in investors to put their money back into the bond market. But, this volatile market means a risk of even more refinances of recently closed loans, before the servicers have a chance to break even on their cost. Rates now have to build in insulation from massive losses servicing is incurring. It is like a roller coaster ride for all involved, but there IS end in sight.

The good news is that all signs point to low rates in the future. The Federal Reserve is going to continue purchasing mortgage backed securities. Mortgage companies are going to close up the deals currently on the books to free more capital to write more loans. The economy struggling to recover will keep rates at affordable levels so we don’t come to a grinding halt. This is great news considering the majority of our active duty families are at a stop-movement. The forced patience will likely pay dividends in the long run in saved interest.

For those of us that don’t like to sit on idle hands, there are steps you can take now. Start interviewing lenders and make sure you find one that is a good fit. Fill out the application and start sending in supporting documents so you can take advantage of low rates as soon as the time is right. We in the real estate and financial sectors are essential workers because “home” is something no one should be without. While all parties involved have modifications in place, rest easy knowing that it WILL get better and we are here to help.

MIGHTY SURVIVAL

On the front lines of the battle with COVID-19, a nurse’s story

When one nurse chose emergency medicine for its fast paced environment and continual learning, she never dreamed she’d be working through a global pandemic.


Alyssa Piegari has been drawn to the emergency room (ER) ever since she graduated high school. She began her career in medicine as an emergency medical technician. Ten years later, she would go on to earn her Master’s in nursing and the ER would become her second home.

Patience pays: What happened to the mortgage market and why it will get better

That home is becoming increasingly chaotic.

Piegari is a nurse in a northern New Jersey hospital, just minutes from New York City. Her county has the most cases in the state. The Governor recently requested help from the Army Corps of Engineers to expand hospital and intensive care abilities. Piegari shared that the ER was already a hectic place, short on vital resources.

Now, things are even worse.

If a patient is suspected of having the novel coronavirus or COVID-19, there’s a full donning process before you can enter into their room. Gown, N95 mask, face shield, and gloves. But if you get into that room and its missing things like a blood pressure cuff, which she shared happens often, you have to take everything off and start over. Those vital personal protective equipment (PPE) items are running scarce.

Piegari treated her hospital’s first coronavirus patient.

Piegari shared that if you walk into an ER showing signs and symptoms of a virus you are immediately swabbed and tested for 20 different viruses. The COVID-19 swab takes three to five days for results. Patients who come up negative for the other viruses in the initial scan are then treated as though they are positive for COVID-19 and sent for a CAT scan of their chest.

“When you look at the CAT scan pictures of a healthy person compared to one with the beginning stages of the virus, it appears as ground glass looking nodules. It starts with one in the lungs and then spreads like wildfire,” said Piegari. After a few days, those with coronavirus tend to decline quickly, with those patches of ground glass nodules taking over the lungs. This is what leads to death for many patients.
Patience pays: What happened to the mortgage market and why it will get better

She went on to say that not only is her hospital seeing patients with COVID-19 that have underlying conditions, but people who have no comorbidities or issues. Her hospital recently admitted a patient who was just 23 years old.

Piegari shared that people – possibly even children – are walking around as carriers of this virus, showing absolutely no symptoms. They are living their lives as usual and passing it to people who are getting very ill; and some dying. This is the entire point of social distancing, says Piegari, to stay home and protect your community members. Whatever activity you have planned, it just isn’t worth the lives it impacts.

“We are now in a society where the flu is globally accepted. Due to this, people aren’t considerate of others. They’ll still go to the gym, grocery story, and cough and expel the virus; spreading it,” shared Piegari. The most recent study of COVID-19 has shown that it can survive in the air for several hours, posing significant risk to communities and especially medical professionals taking care of these patients.

“Quarantine is a good thing. It is going to take down the number of cases. The mass hysteria that is going around is inappropriate, however. It is causing lack of resources for those that are truly in need,” said Piegari.

This is the reasoning behind the majority of states closing down their businesses, schools, and limiting gatherings. To those that are still taking this virus lightly, they should become concerned. If not for themselves, then for the people around them.

Piegari also encouraged people to call ahead and not just come in. Her hospital in particular has seen a massive influx of people with flu-like symptoms. Even if they do not have the novel coronavirus, they’ve just now exposed themselves to a whole host of viral possibilities.

In the end, Piegari shared that she will continue to go to work, even at the risk of her own health and that of her family. She and many other medical professionals on the front lines deserve our utmost respect and our attention. Listen to them and help slow the spread of this pandemic.

No person is immune.

MIGHTY FIT

4 tips to help you get into the hom​e workout groove

If working out from home is bumming you out, it’s time to suck it up and work hard anyway. This time in quarantine will separate the winners from the losers and the wheat from the dang chaff.


I get it, working out where you sleep and watch Netflix sucks. But no one knows how long this will last and if you want to have some level of fitness at the end, you’ll have to make the most of the situation.

If you’re finding it difficult to establish a workout routine at home, here are a few ideas to get back on track.

How to work out in 10 minutes

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Make a plan and stick to it

Even though this is the simplest and most obvious idea on this list, you need to make a plan.

The main problem when you’re locked in your home is that it’s way too easy to convince yourself to sleep an extra hour or watch that next episode. If you’re alive and sentient at all, you know how easy it is to rationalize getting that workout in tomorrow instead of now.

If you want to come out of this pandemic in decent shape, make a plan to train daily and stick to it. Even 10 minutes of dedication each day will eventually lead to more.

As you would with gym workouts, make a plan that establishes the type of workout you’ll do, the body parts you’ll hit, and the end goals of each workout. With a plan, you’ll be less likely to skip out.

Patience pays: What happened to the mortgage market and why it will get better

Or better yet get out of the house and go to an open and spacious space that you can train at.

U.S. Marine Corps photo by Cpl. Margaret Gale

Set up a workout area

Almost everyone knows that stepping into a gym means go time. You’ve invested time, money, and effort to be there. These factors make getting into the groove much easier.

But training where you live and sleep can be challenging.

If this describes your situation, set up a specific area for your training, and keep your equipment there.

By dedicating specific space to your workouts, you’ll no-doubt be able to create a different mindset once you step into that “gym” area. This mindset can help you challenge yourself and get the most out of your workouts.

Not to mention, walking past that gym area can help remind you of the importance of your fitness goals. This reminder will help motivate you and make it less likely that you’ll skip a workout.

Patience pays: What happened to the mortgage market and why it will get better

1000 squats… not my favorite challenge but definitely not the worst thing I’ve ever heard of.

U.S. Marine Corps photo by Cpl. Margaret Gale

Decide on new goals to pursue

If you had specific fitness goals before this mandatory lockdown, you probably feel a bit defeated, especially if you were making some serious progress.

But now, it’s time to stop sulking and decide on a new goal.

No one knows how long you’ll be without your standard equipment. Instead of sulking about your lost gains, pick something new and incredibly challenging to achieve.

Maybe you’ve been slacking on your runs. Fortunately, exercise is considered “essential,” during this quarantine as long as you keep your distance from others. What if you decided on specific running and endurance goals?

What if instead, you set crazy goals like lunging a full mile or performing 1,000 bodyweight squats in less than an hour? Do you think you could?

Even though these goals might not have been what you envisioned, stuff happens, and times change. Suck it up and figure out a new way to be your best self.

Patience pays: What happened to the mortgage market and why it will get better

There’s no wrong way to get your family involved as long as you aren’t a dick. There’s no reason to make family life harder than it already is.

Photo by Graham Snodgrass

Get your family on board

Last but not least, if you have roommates or live with your family, try to get them on board with your workouts.

On top of promoting a healthy lifestyle and promoting quality family time, exercising with others can make the process much easier.

While not a guarantee, implementing an exercise routine that includes everyone is an excellent way to establish a workout routine. Plus, it can be fun if you’re not in drill instructor mode.

With any luck, you’ll come out of this quarantine with a new vision, strengthened family bonds, and new achievements on your belt. That’s a win-win-win.

MIGHTY SURVIVAL

Veterans Moving Forward: More veterans requesting service dogs amid pandemic

If you love working with dogs and like service opportunities, consider supporting and volunteering with Veterans Moving Forward!

Veterans Moving Forward provides service and emotional support dogs to veterans dealing with mental and/or physical challenges at no cost.


DONATE

VMF relies entirely on donations, grants and fund raising for funding our operations and programs. Your financial support is greatly appreciated! TEXT dogs4vets to 707070 or visit vetsfwd.org!

VOLUNTEER

We need and seek volunteers who are committed, compassionate and want to make a difference in the lives of veterans.

APPLY

Apply for a Veterans Moving Forward Service Dog by completing and submitting (per instructions on the application form) our Service Dog Application.

Patience pays: What happened to the mortgage market and why it will get better

Meet Ashley:


Ashley is named after Army 1LT Ashley White.

1st Lt. Ashley White was killed during combat operations in Kandahar Province, Afghanistan on October 22, 2011 when the assault force she was supporting triggered an improvised explosive device. Ashley was assigned to the 230th Brigade Support Battalion, 30th Heavy Brigade Combat Team, North Carolina National Guard, Goldsboro, NC and served as a member of a Cultural Support Team attached to a Joint Special Operations Task Force in Afghanistan. As a Cultural Support Team Member on her first deployment to Afghanistan, White selflessly served. Ashley’s actions exemplify the highest commitment to duty, honor, and country. In every instance she served with distinction in support of the Task Force and our great nation.

This article originally appeared on Military Spouse. Follow @MilSpouseMag on Twitter.

Articles

3 myths about the new military retirement system

Patience pays: What happened to the mortgage market and why it will get better
Veronica Ballek, wife of Col. Michael Ballek, pins a retirement pin on her husband during his retirement ceremony at Mountain Home Air Force Base, Idaho, June 2, 2015. | US Air Force photo by Tech. Sgt. Samuel Morse


You’ve probably heard that currently serving military members and their families soon will have to choose whether to switch to the new military retirement system or stick with the old one.

But retirement options and savings choices can be confusing. How can troops know which to pick?

Also read: Pentagon considers lifetime access to Exchange system for vets

Military leaders want families who are thinking through the choice to be armed with as much information as possible, said Lt. Col. Steven Hanson, who heads the Army‘s compensation and entitlements office.

He discussed three military retirement myths at a recent Association of the United States Army conference.

Myth 1: You’ll be forced into the new military retirement system.

That’s false, Hanson said.

Everyone who joins the military after Jan. 1, 2018, will be a part of the new system whether they like it or not. But those who are currently serving at that time will have to make a choice: Keep the old system or opt into the new one.

“One of the big misconceptions about this is that people will be forced into the new system and that is simply not the case,” he said. “Nobody will be moved into the blended system unless they actively choose to do so.”‘

The current retirement program is based on a pension system. Under that plan, if a military member serves 20 years, is medically retired or is forced out and qualifies for early retirement, he’ll be able to walk away with a pension based off his rank at retirement.

But most troops don’t retire out of the military — they simply leave the service. And thanks to the way the current system is set up, that means they walk away empty-handed.

That’s a problem the new “blended” retirement system is designed to fix. Instead of retirement or nothing, it gives service members a savings that is closer to what’s used by employers in the civilian sector.

Under it, troops can contribute money to their Thrift Savings Plans (TSP), and the Defense Department will match it up to a certain percent, much like a 401(k) plan. Even if a service member opts to put nothing in his TSP, the DoD will still contribute an amount equal to one percent of his base pay to the account each month.

And service members who stay in long enough to become retirees will still get a version of the pension system in the new military retirement plan as well, although payments will be based on a lower amount than they are today.

Myth 2: It’s easy to tell which plan you should use.

False. While it would be nice to know if the new system is the right choice for you simply based on how many years you’ve been in, that’s not the case. Whether the new system is right for any given service member is going to be based on a whole slew of information specific to that person and his or her family, Hanson said.

“There’s no cookie-cutter answer. Every service member is going to have different circumstances,” he said. “Everyone should do what’s best for their personal circumstances.”

Myth 3: You’re going to have to figure out which plan is best for you on your own.

Mostly false. While the final choice ultimately will be up to each individual service member, the law that required the retirement plan change also requires the Defense Department to provide a lot of education about what the change means — and how service members can pick which plan is right for them.

“We need to make sure that they have the tools, the skills and the knowledge to make an informed decision,” Hanson said. “We are putting together a training and education plan to make sure service members understand the old system versus the new system so they can make an informed choice.”

MIGHTY MILSPOUSE

Coronavirus stimulus checks: Everything military families need to know

As the United States continues to battle the spread of the coronavirus, the federal government has passed legislation that will send stimulus checks to most tax paying Americans, including military families.

These stimulus checks are a part of a massive $2 trillion effort to not only assist Americans who are financially struggling amidst this time of layoffs, furloughs, and social isolation, but also to inject funding directly into businesses around America that are continuing to employ people throughout this chaotic time.


The payments heading directly to American families in the coming weeks are projected to reach nine out of 10 households in the country, which means military families can count on receiving these payments despite the military itself not suffering the same sorts of layoffs and reduced employment found elsewhere in the nation. This money can be used to help offset lost spouse income, the cost of buying essential cleaning materials, and the cost of being stuck in your homes on base or elsewhere.

Service members that are suffering financial hardship as a result of being caught between duty stations while executing orders at the time of the Pentagon’s stop-movement order are eligible for other financial assistance provided through the Defense Department. Those payment have nothing to do with the coronavirus stimulus checks the Treasury Department will soon be sending.

So who, exactly, is eligible for a stimulus payment and how much can they expect to receive? We break it all down below.

How much will I receive in my coronavirus stimulus check?

Stimulus payments are based on the recipient’s adjusted gross income, so the Treasury Department can prioritize payments to Americans that are most in need. It’s important to note that basic entitlements like BAH (Basic Allowance for Housing) and BAS (Basic Allowance for Subsistence) are not included in your family’s adjusted gross income. Only taxable income (basic pay) is taken into account for tax purposes.

You can find up to date info on the IRS webpage here.

Coronavirus stimulus payments include:

  • A maximum id=”listicle-2645620124″,200 per adult
  • Up to ,400 for couples who make up to ,000
  • An additional 0 per each child that is 16 or younger
Patience pays: What happened to the mortgage market and why it will get better

However, at a certain income level, the payments begin to reduce until a certain point, in which they stop completely.

  • Those who make over ,000 per year individually will see payments reduced by for each 0 in their Adjusted Gross Income over the ,000 cap.
  • Individuals who make over ,000 per year will not receive a payment
  • Couples filing jointly who make more than 8,00 per year will not receive a payment
  • Those who file as “head of household” will not receive a payment if their income is about 2,500 per year
  • Dependent adults are not eligible for a payment, including college aged children and adults with disabilities

How does the government know how much money I make or how many kids I have?

The Treasury Department will be using 2018 tax returns to assess income level and dependents, as well as the direct deposit information for those who have it in order to deposit the stimulus checks.

What if my income was above ,000 in 2018, but has since dropped?

These payments are really just an advanced tax credit, so even if you don’t receive a payment because your 2018 taxes showed you as ineligible, you can still receive it as part of your tax return when you file your 2020 taxes.

Do I have to sign up or fill out forms to receive my stimulus payment?

As long as the IRS already has your bank account information from your 2019 or 2018 tax returns, all you have to do is sit and wait for the check to hit your account. However, if you have not yet filed your 2018 taxes, the IRS encourages you to do so as soon as you can, otherwise your payment may be delayed.

The IRS said that they will be building a portal to change direct deposit information in the coming weeks.

Patience pays: What happened to the mortgage market and why it will get better

live.staticflickr.com

What if my family and I are stationed overseas?

As long as you meet the income requirements and have a social security number, you will still receive the payment regardless of where you are stationed.

Will I have to pay taxes on the stimulus payment?

No, these payments are technically considered a tax credit.

What if I don’t have direct deposit established for my taxes?

Your payment will come to you the same way a tax refund would, so if you don’t have a direct deposit account established with the IRS, the check will be mailed to you at the address listed on your tax return.

This article originally appeared on Sandboxx. Follow Sandboxx on Facebook.

MIGHTY MONEY

Why NCOs should never let their troops buy a car alone

Buying a car in today’s world is a necessity. Even the troops who grew up in a city where they never needed anything more than a subway pass will find themselves needing a set of wheels to call their own. Military installations are way too big and timetables are way too tight for a young private to make it around comfortably on foot.

So, be prepared to fork over a bit of your enlistment bonus just to adhere to a standard. Meanwhile, it’s kind of ingrained into military culture to belittle and mock the unfortunate lower enlisted who thinks they’re getting a good deal on a sports car and ends up paying a 28% interest rate over five years.

Instead, shouldn’t we actually, you know, help the poor soul?


Patience pays: What happened to the mortgage market and why it will get better

(U.S. Army photos by Cpl. Han, Jae Ho and Dean Herrera)

You can’t throw a rock outside of a military installation’s main gate without hitting a sketchy used-car lot that boasts that “E-1 and above” are automatically approved for a loan. Because so many young troops are told they must get a car and have no idea how to do so intelligently, they’ll usually shop at the first stop — often coming away with a car without even taking it for a test drive.

Yes, a young private has few bills to pay — they’re given a barracks room rent-free and their meal card deductions hit their LES instead of their bank account — but too many troops are crippling their credit report right out the gate. A simple bad decision will follow them for life.

This is where their first line supervisor or their non-commissioned officer can step in and spend a Saturday afternoon making sure their troops are taken care of.

Patience pays: What happened to the mortgage market and why it will get better

“A new set of wheels and this baby will be good as new! But for you, my special friend, I’ll see if I can sweet talk one of the guys to throw in a few air-freshening trees for the rear view.”

(Department of Defense)

Leaders have been around for a while and generally have a good sense of the installation and its surrounding area. Given that an NCO likely has a vehicle, they could talk the rideless private past all of those sketchy spots and take them to a reputable dealership. Depending on your location, this might be an hour-long drive, but it’s still better letting someone fall prey to months of ridiculously high payments.

Next comes the choice of car. The young troop, fresh out of mama’s basement, might see all those numbers in their bank account and fail to piece together that 00 isn’t really all that much to grown adults. Feeling like Mr. Moneybags, the young troop may casually stroll up to the car of their dreams — and it’s kind of up to the NCO to be the reality check.

Patience pays: What happened to the mortgage market and why it will get better

Hell, NCOs could even pop out a PMCS checklist right then and there. It’ll establish dominance over any crooked salesmen and show you mean business.

(U.S. Army photo by Spc. Wilmarys Roman Rivera)

That new muscle car seems nice, but it’s not the best fit for for someone who gets paid half of federal minimum wage. So, you’ll want to pinch pennies. You might think that used cars are the best option then, but that opens another can of worms if the NCO isn’t careful.

So, here’s a little trick for you: insist that both the troop and the NCO must take the car for a test drive. The troop should be busy deciding if the car is comfortable for them, while the NCO should be looking out for deficiencies. If the car lot is reputable, they’ll always allow you both to ride. If not, you found a solid reason to move on to the next place.

Patience pays: What happened to the mortgage market and why it will get better

Nipping this in the butt early can also help prevent even more paperwork if that troop has to go through financial aid.

(U.S. Army photo by Sgt. John L. Carkeet IV, 143d ESC)

Finally, we arrive at haggling. A young, dumb idiot willing to throw cash around is a used car salesman’s wet dream. If the troop doesn’t know the actual cost of a car but is willing to sign the papers because “they threw in a free tank of gas,” then they’re about to get screwed. It’s up to the NCO to be the middleman. A well-placed knife hand and serious demeanor could mean the difference of hundreds — if not thousands — of dollars.

Once the troop has found a vehicle that is within their price range, from a dealership that isn’t trying to ripoff service-members, runs excellently, and makes the troop happy, you move on to the paperwork. Read every single line before the troop signs anything. Make sure they never take the “zero-down” offer and advise them to put at least id=”listicle-2607400034″,500 down — regardless of the vehicle. Just that bit can change a horrific 28% interest rate to a reasonable 8% for someone without an established line of credit.

However, what you cannot do is co-sign the lease with them. It doesn’t matter if you trust them to pay the lease of on time or you’re willing to take the hit for your guy. It’s strictly forbidden by the UCMJ to enter a financial agreement of any kind with a direct subordinate.

What you can do is cattle prod your troop into making the payment every month. Yeah, it won’t be pleasant for them to be reminded every month to do it, but their financial security is at stake. They’ll thank you once they realize that you helped them out immensely.

MIGHTY MONEY

An easy 9-step car buying guide for the military spouse

It’s happened to the best of us. The second our service member boards that plane to deploy, Murphy decides to insert himself into our world.

It’s almost a given: someone gets sick, one of your spouse’s bills doesn’t get paid, or something inevitably breaks down…and often it’s our mode of transportation that ends up busting out on us.


If this happens to you, I PROMISE, you aren’t alone. But if your car breaks down, how are you going to do all of the things? Well, if there’s no getting around having to purchase a vehicle while your service member is away, we have some tips and tricks to help you through the car buying routine WITHOUT breaking your bank in the process. We realize that big purchases are usually done as a team, and these decisions should (when possible) be made together. Obviously, that isn’t always possible, but here are some things you can do if/when you find yourself squaring off with Murphy over your car.

Patience pays: What happened to the mortgage market and why it will get better

(Flickr / David Wall)

1. Power of attorney (POA)

If you plan on having your service member’s name on the loan or registration, you’ll want to make sure you have your POA handy. This legal document will allow you to act on behalf of your service member for transactions that would otherwise require their physical presence. NOTE: Depending on the financial institution you use to finance your vehicle, a general POA may not pass muster with their terms, so make sure you call to make sure. Some banks just require a faxed copy of the general POA, while others have a special form of their own or require a “special” or “limited” POA.

2. Research, research, RESEARCH!

What kind of vehicle do you need? How much can your family afford each month? Are their certain dealerships in your area that are known for inappropriate practices? These are just a few of the questions you should be asking yourself before you even think of stepping foot into a car dealership.

There are plenty of websites that will help answer these questions so that you’re better able at making an informed decision. One of the first things you can do is figure out the type of features you need and find a few makes and models to look over. It’s not just about the price…it’s about knowing what it is you’re looking to buy. Kelley Blue Book is a one stop shop that has plenty of research tools to help spin you up on the “must-knows” of car buying.

3. Get financed FIRST

When it comes to financing, it’s best to get pre-approved BEFORE you start your search. You aren’t required to know what kind of vehicle you’re purchasing before being approved for financing because the financial institution is approving you…not a certain vehicle. Make sure you understand the terms of your financing as well. If you end up negotiating, say, 00 off the sticker price of the car when you’re haggling with the dealer, that isn’t going to matter in the long run if your interest rate is out of this world.

4. Don’t rush

Buying a car is a big deal, so take your time and don’t rush the process. You need to make sure the car is everything you need/want, both literally and financially. Make absolutely sure you know exactly what your family can and cannot afford. If you find a car you want but it’s a bit over budget, other websites, like Auto Trader, might be able to find you the same car at a lower price somewhere else.

5. When possible, find the right time to buy

Of course there’s no real way to know when Murphy will strike…if we could plan that, Murphy’s Law wouldn’t even be a thing! But it doesn’t hurt to know that timing is everything in the car buying business.

Yes, There Really IS a Right Time to Buy

Of course there’s no real way to know when Murphy will strike…if we could plan that, Murphy’s Law wouldn’t even be a thing! But it doesn’t hurt to know that timing is everything in the car buying business.

The end of the month is usually a good time to buy because dealers often have a quota that needs to be met each month. Each car on their lot needs to be paid for at the start of each month, so car salesmen are looking to unload as many as possible to meet their quota. But buying a car at the end of the year is even better (though, again, Murphy can rarely be planned for).

Patience pays: What happened to the mortgage market and why it will get better

6. History reports are KEY

If you’re not out to purchase a brand new, right off the assembly-line vehicle, you’ll really want to get your hands on a vehicle’s history report. Don’t just take someone’s word that it’s “good to go” as is.

Most dealerships (if they’re worth a darn) will pay for the cost of a vehicle history report themselves, but you can do this as well. Car Fax is a great resource for consumers, and they provide a report that will tell you just about everything you need to know about the car: hidden issues, who owned it last, where it came from, etc. It does cost money to obtain a history report, but it’s chump change compared to the investment you’re making in a vehicle.

7. Don’t skip the test drive

Once you’ve narrowed down your choice(s), it’s time to take it for a test drive.

Sure, the car’s body looks fantastic, but the only way you’ll know that everything is in working order under the hood is if you take it for a spin. Listen for noises that shouldn’t be there, trouble shifting gears, service lights on the dashboard, etc. Many people will return to test drive in the evening, but if that isn’t feasible (because, you know…who wants to pay for a babysitter ON TOP of having to pay for a new car), a lot of dealerships allow you to take the car home for 24 hours to see how it works out. Either way, do NOT skip the test drive.

Again…Don’t Rush!

If you’re just not sure it’s the right vehicle for you or need a night or so to sleep on it, don’t rush it. Take the time you need to mull it over. This is YOUR money, YOUR time and YOUR choice; don’t let anyone push you around. Speaking of which…

8. Don’t be intimidated

It’s not uncommon to feel intimidated when buying a car…especially if that role isn’t really your jam (i.e. it is SO not MY jam). But there’s a difference in FEELING intimidated and BEING intimidated. If, at ANY point in the negotiation process, you feel uncomfortable, or don’t like how you’re being spoken to, SPEAK UP. You hold all the cards and the ball is in your court. If you don’t feel like you’re being treated fairly, tell the service manager. Or better yet…

9. Don’t be afraid to walk out

If you feel like you’re being pushed into signing a contract, or just aren’t picking up what the dealer is putting down…WALK IT OUT. There are plenty of other places that would love to have your business. Do not feel guilty about keeping your money, and your family’s financial security, safe.

This guide is a great way to get started on your car-buying adventure, but we want to add to it! If you have a strategy or a story about buying a car when you were flying solo, we want to hear it!

This article originally appeared on Military Spouse. Follow @MilSpouseMag on Twitter.

MIGHTY SURVIVAL

Check your benefits – that’s an order!

There are plenty of lofty quarantine goals going on right now. We stand firm that using this time to start marathon training, grab a new certification or simply up your nap game are all worthy endeavors. However, there is one thing which all service members should be checking in on right now: their benefits.

Beyond the paycheck, there’s plenty of benefits offered to military personnel that way too often go unutilized. The second we can all get back to “normal” life again is the second things like “use or lose days” and tuition assistance packets should be tossed into play. We’ve conveniently outlined everything you should square away while we all know you have the time.

Use or lose days 

Americans have a weird unspoken tradition of taking pride in hoarding (and never using) vacation days. “Use or lose” refers to the unused vacation days service members accrue that are carried over into the next fiscal year. Anything above 60 days of leave “in the bank” will be slapped with an expiration date, which is when you either use them by a certain date or lose them. At 2.5 days per month earned, things can add up at high tempo locations.

We’re fiercely advocating to end that weirdness right now and mandating that you book a trip to go on before the end of the year once all the travel bans are lifted, get out, and enjoy the freedom you protect. A long weekend getaway, a surf trip, or a drive down the 101 highway are all exactly what you need to recharge and show back up to work even better than before.

Patience pays: What happened to the mortgage market and why it will get better

Tuition assistance

Tuition assistance is one of the best benefits available to service members across multiple branches. It’s not the GI Bill and it’s not a loan. Plainly put, tuition assistance is a certain dollar amount you are eligible for per semester to use toward earning college credit.

Participating universities often offer flexible online courses that can accommodate for field training, deployments and occasionally give credit for military training courses you have already completed depending on your degree.

If you’re sitting on your couch, three years into active duty and haven’t used a penny, we suggest starting. Earning a degree slowly while on active duty, all without touching your GI Bill benefits is smart.

Pay changes after a PCS 

Ok so this isn’t a benefit per se, but it’s a big mistake we see made way too often that can send your finances into a death spiral that is hard to recover from. Special pay options like hazard, jump, flight or any other hardship or incentive pay you’re receiving thanks to specific circumstances don’t always transfer with you from one PCS to another.

Knowing exactly what special pay benefits will or will not transfer with you in addition to the incoming new BAH and BAS rate you fall under is essential. Why? Because nothing is worse than earning an extra few hundred dollars each month, having the military find the mistake (they will) and then having it all taken from your next paycheck leaving you with next to nothing to cover your bills.

There is no such thing as tricking the military in terms of pay. Making a mistake with your pay will never be a “my bad” situation that you benefit from. Always know exactly what you should be paid, put in the correct paperwork to stop special pay, and meticulously check your LES statements to ensure the figures are correct.

Patience pays: What happened to the mortgage market and why it will get better

Special programs for dependents

There’s enough out there in terms of programs, scholarships, grants, loans and more that it would take an entire other article (or three) to outline, so we’ll keep it brief. Just like service members, military dependents should investigate opportunities first before tackling any educational costs out of pocket.

The Army Emergency Relief rolled out an exciting new program offering up to ,500 that spouses can apply for toward professional relicensing expenses when they PCS. Also new from AER is a Child Care Assistance Program created to help offset areas with high living expenses at up to 0 per month per family in the few months after a PCS.

Military spouses are offered preference when applying for certain DoD and other governmental jobs, including working for USDA, US Fish and Wildlife jobs and more.

The bottom line here is that when the quarantine is over, we should all emerge smarter, stronger and ready to take charge of our lives. So check your benefits and make sure you’re getting all you can out of your paychecks.

MIGHTY MILSPOUSE

6 art projects to tackle with kids

Parents, it’s time to get those creative juices flowing! Take advantage of extra time with the kiddos and see what everyone can do with their best art skills at work. Look to local inspiration (and plenty of grace for the non-artists among us), for a fun way to spend some of your quarantine.

Patience pays: What happened to the mortgage market and why it will get better

Stained “glass” decor

This trend has probably blown up your newsfeed. Get some tape, some paint or chalk, and map out a pattern with triangles and squares. It’s perfect for anyone living on post who wants to share some beauty for all to see. Best of all, it’s colorful!

Inspiration art

Straight out of elementary art class, this project can be adjusted for any age. Provide kids with a subject (vehicle, animal, design), along with a few art supplies. Let each kid create their own masterpiece, then have a discussion about what they liked most. Kids can even comment on which aspects of their siblings’ pieces they like the best. Take it a step further and set up a gallery.

Patience pays: What happened to the mortgage market and why it will get better

Messy painting

Let your inner control freak go and let them make a mess! Set up sheets, canvases, paper, or t-shirts in the lawn and let them get wild. Our favorite methods include: paint-filled balloons or squirt guns, and sponges launched from far away.

String art

Grab a piece of wood and strategically place nails. (Older kids can even do the nails themselves.) Next, provide some colored string and let them weave away. Do this in the backyard, or (if open) head to some beautiful open spaces on base for a change of scenery.

Patience pays: What happened to the mortgage market and why it will get better

Slime drawings

These days slime is a big deal. Grab a slab of it and have kids make their own marker drawing, yes, right on the slime. Once done they can stretch and mold the artwork to change its entire look. Mix it all back together and start all over again!

Melted crayons

This is a fun project that allows kids to create and transform their art project. Help them grind up old crayons and encourage them to spread it out and make a design on some waxed paper. Once finished, add another layer and iron the whole thing for a lasting project you can hang on the fridge or in a window for colorful light.

What are your favorite art projects to do with kids during quarantine?

MIGHTY MONEY

Market takes a dive on news of Trump victory

Patience pays: What happened to the mortgage market and why it will get better
The DOW took a hit after Trump was declared the President-Elect, a slump that was felt around the world.


The stock market took a massive dive just before and moments after Donald Trump was declared the President-Elect around 0230 today.

The Sydney Morning Herald reported that there was a moment of panic felt around the world as countries like Australia, Mexico, and Japan had market slumps in response to voting results showing Trump’s gradual climb.

Fortune reported that the Dow Jones Industrial Average dropped almost 650 points during after hour trading; SP 500 was down 4 percent, the Nikkei was down 5 percent, and the Mexican peso had plummeted almost 12 percent. The drop in the Mexican peso was the largest the currency has seen in over 20 years.

The Economist reports that “vague and erratic” statements from Trump in regards to trade and foreign policy have the rest of the world worried.

This might motivate some service members and veterans to pull their funds out of Thrift Savings Plans, 401(k)s, and other investment tools. Before they do that, take note that the dive was temporary and seems to be recovering. According to The Guardian, U.S. yields (interest rates) on U.S. debt is on the rise.

That bounce, according to The Guardian, is due in part to Trump’s acceptance speech.

Alex Edwards of UKForex wrote “[Trump’s] appeasing tone has definitely helped” the market response.

Jeremy Cook of World First writes “It’s because he sounded more presidential.”

That said, Paul Krugman from the New York Times writes “If the question is when markets will recover, a first-pass answer is never.”

So how does this impact your investment and retirement dollars?

Most experts would say don’t panic just yet. Right now, it’s still unclear how exactly Trump’s election will impact the U.S. and global economies in the long run. It would be premature to pull funds out of the TSP and other market investments, but should you decide to do that, consult a financial advisor.

MIGHTY MOVIES

This new mobile streaming app tells big stories in quick bites

There’s a new mobile streaming app in town that’s hoping to corner the market on the white space in your day — specifically, those seven to 10 minute gaps where you’d love to be entertained. Introducing Quibi, whose name and premise are based upon giving you quick bites of big stories.

After watching some of their trailers, we can assure you: you won’t be disappointed. Spoiler alert: The release we’re looking forward to the most? We Are The Mighty’s very own show, TEN WEEKS — the first look inside U.S. Army basic combat training in two decades. Make sure you download Quibi now to know when TEN WEEKS is available.


Quibi Founder Jeffrey Katzenberg Goes Over The New Streaming Service

www.youtube.com

Quibi Founder Jeffrey Katzenberg Goes Over The New Streaming Service

Got a few minutes? That’s all you need to be entertained, informed and inspired. Quibi presents fresh content from today’s top talent—one quick bite at a time.

Launched on April 6, 2020, by the end of the app’s first year, Quibi is slated to have 175 new, original shows and over 8,500 quick bites of content.

Here’s a list of what you can watch tonight:

Movies in Chapters:

  • Flipped
  • Most Dangerous Game
  • Survive
  • When the Streetlights Go On

Unscripted Series and Documentaries:

  • Music
  • 60 in 6
  • Chrissy’s Court
  • Dishmantled
  • Elba v Block
  • Fashion’s A Drag
  • Fierce Queens
  • Gayme Show
  • Gone Mental with Lior
  • Murder House Flip
  • Music
  • NightGowns
  • Nikki Fre$h
  • Prodigy
  • Punk’d
  • Run This City
  • Shape of Pasta
  • Skrrt with Offset
  • Thanks a Million
  • The Sauce
  • You Ain’t Got These
Daily Essentials:
  • 60 in 6 by CBS News
  • Around the World by BBC News
  • Close Up by E! News
  • Fresh Daily by Rotten Tomatoes
  • For the Cultura by Telemundo
  • Hot Off the Mic
  • Last Night’s Late Night
  • Morning Report by NBC News, Evening Report by NBC News, Saturday Report by NBC News, Sunday Report by NBC News
  • NewsDay by CTV News and NewsNight by CTV News
  • No Filter by TMZ: AM, No Filter by TMZ: PM
  • Pop5
  • Pulso News by Telemundo
  • Sexology with Shan Boodram
  • Speedrun by Polygon
  • The Daily Chill
  • The Nod with Brittany Eric
  • The Rachel Hollis Show
  • The Replay by ESPN
  • Trailers by Fandango
  • Weather Today by The Weather Channel
  • NewsDay by CTV News and NewsNight by CTV News
Quibi – Shows

quibi.com

Quibi – Shows

The daily essentials are a great way to get your news or recaps in just a few minutes. The movies in chapters and shows are equally captivating with excellent storytelling and star-studded casts.

From Reese Witherspoon narrating an animal documentary to the story behind the I Promise School with LeBron James, the cast of these shows is nothing shy of impressive. With celebrities like Jennifer Lopez, Kristin Bell, Ben Stiller, Will Arnett, Ozzy Osbourne, Jay Leno, Ariana Grande, James Corden, Zooey Deschanel, Matthew McConaughey, Tina Fey, Jack Black and the list goes on — it’s easy to see how co-founders Jeffrey Katzenberg and CEO Meg Whitman put id=”listicle-2645654109″.75B into content.

Here are just a few of the shows’ trailers:

I PROMISE | Official Trailer | Quibi

www.youtube.com

I PROMISE | Official Trailer | Quibi

This is their promise. I Promise from Executive Producer LeBron James. Only on Quibi.

Murder House Flip | Official Trailer | Quibi

www.youtube.com

Murder House Flip | Official Trailer | Quibi

Murder and makeovers don’t usually go together. Until they do.

Shape of Pasta | Official Trailer | Quibi

www.youtube.com

Shape of Pasta | Official Trailer | Quibi

Warning: This video contains imagery of amazing pasta and may cause hunger in some viewers. Shape Of Pasta. Only on Quibi.

&Music | Official Trailer | Quibi

www.youtube.com

&Music | Official Trailer | Quibi

“When you’re working with someone, you open up on such a vulnerable level.” MUSIC. Only on Quibi.

YouTube

www.youtube.com

Thanks A Million 

Because giving is the good we need in the world right now.

Take a well-deserved break and get your bite of content on Quibi by downloading it from your mobile App Store, today. Quibi is available on multiple platforms and is free for 90 days.

MIGHTY SURVIVAL

U.S. watchdog warns of pending coronavirus disaster in Afghanistan

A watchdog report to the U.S. Congress has warned that Afghanistan is likely to face a health disaster in the coming months brought on by the coronavirus pandemic.

The April 30 report by the U.S. Special Inspector-General for Afghanistan Reconstruction (SIGAR) has heightened concerns that the pandemic could derail stalled peace efforts brokered by the United States.


The spread of COVID-19, the disease caused by the coronavirus, has significantly impacted Afghanistan.

“Afghanistan’s numerous and, in some cases, unique vulnerabilities — a weak health-care system, widespread malnutrition, porous borders, massive internal displacement, contiguity with Iran, and ongoing conflict — make it likely the country will confront a health disaster in the coming months,” the report concludes.

The pandemic has forced the closure of border crossings, disrupting commercial and humanitarian deliveries.

SIGAR, which monitors billions of dollars spent in Afghanistan by the United States, warns that rising food prices are likely to worsen as the crisis continues.

Afghanistan has confirmed nearly 2,200 coronavirus cases and 64 deaths, according to local news reports quoting the Afghan Health Ministry.

Taliban militants fighting U.S.-led coalition forces in Afghanistan signed a deal with Washington in February — raising hopes that formal peace talks between the militants and Afghanistan’s central government could start soon.

The Taliban committed to severing ties with terrorists and preventing terrorists from using territory under its control to launch attacks against the United States or its allies, including the Afghan government.

In exchange for those guarantees, the United States agreed to withdraw all of its troops from Afghanistan by July 2021.

Since signing the deal, Taliban militants have escalated attacks on Afghan security forces.

Last week, the Taliban rejected a proposal by the Afghan government for a cease-fire during the holy month of Ramadan.

The latest SIGAR report said the international coalition has declined to make data available for public release about the number of Taliban attacks launched during the first three months of 2020.

It was the first time publication of the data has been held back since 2018 when SIGAR began using the information to track levels and locations of violence, the report said.

SIGAR said the coalition justified holding back the information because it is now part of internal U.S. government deliberations on negotiations with the Taliban.

Peace talks are supposed to begin after the Afghan government releases some 5,000 Taliban prisoners from custody.

In return, the Taliban also is supposed to release about 1,000 Afghan troops and civilian government employees it is holding.

As of April 27, the Afghan government had freed nearly 500 Taliban prisoners, while the militant group had released about 60 of its captives.

This article originally appeared on Radio Free Europe/Radio Liberty. Follow @RFERL on Twitter.