Archive for August 16th, 2010
A few years ago, when I started out in the mortgage acceleration business, I rarely used the term mortgage acceleration in public, because it was not instantly recognizable. Here are a couple of examples to compare…
- If I say “high interest rates,” you immediately know what I mean.
- If I call you up and say “Hel,” before I even finish the “lo,” you already know I’m greeting you cordially. In other words, the term is defined before it’s even fully out of my mouth.
Right now, in mid-to-late 2010, the term mortgage acceleration is pretty much on a par with “car sale this weekend,” or “low interest rates.” People get it as soon as they hear the whole phrase. Most people I’m talking with these days don’t know how it works, but they like the idea.
That’s a good thing, because as soon as we have common language, we can find solutions more quickly. The people with the problem and the people with the solution can understand each other because they are now speaking the same language.
Another term that I did think was very useful two years ago was Equity Cycling. Read tomorrow’s post on why that’s NOT – NOT – NOT. 🙂
Meanwhile, please remember we are people with a solution!