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Ground Rules on E-Mail

Last Revised February 26, 2008

Too-Good-to-Be-True Questions Answered Here:

1. There are no mortgages with rates below 3.5% for 5 years. Read The Mortgage Interest Rate Versus the Payment Rate.

2. You cannot cut the life of your mortgage in half without making extra principal payments. Read The UFF Plan.

Too-Bad-to-Be Helped Question Answered Here: If you have a 2-year ARM with the first rate adjustment looming, and you won't be able to meet the large increase in payment that results, and you won't have the equity needed to refinance, there is no point in asking me to help you find another loan provider. I suggest you call 1 888 995 HOPE.

The Question I Cannot Answer: Please do not ask me what price you should expect to pay on your mortgage, or whether a price quoted to you is reasonable. Mortgage prices depend on many things and change every day.

Other Questions:

1. Anyone can write me at jguttentag@mtgprofessor.com, there is no charge.

2. Comments and questions about articles and calculators are always welcome.

a. If you are commenting on a newspaper column, please give me enough information to identify the column. Some newspapers hang onto a column awhile before publishing.

b. If you are having trouble with a calculator or spreadsheet, give me a list of the exact data entries that resulted in the problem, so I can reproduce it. And be sure to identify the calculator by number.

3. I don’t do interest rate or real estate market forecasts.

4. I don't do reciprocal web links.

5. Do not ask me if a particular loan provider is reputable, honest, or competent. There are so many of them that the likelihood that I will have an answer is extremely low. I recommend against the passive approach of allowing yourself to be solicited, then searching for information about the firm soliciting you. I recommend selecting a loan provider, not being selected by one. The secret is to select one recommended by a credible source, see Alternative Approaches to Selecting a Loan Provider.

6. I usually reply to single straightforward questions, although my reply might be that I don’t know.

7. I usually do not reply if I can't understand the question, or if the questioner is asking that I write a book.

8. I don't answer examination questions.

9. I usually avoid questions about real estate investment, unless they are particularly interesting.

10. If I reply and you write me a follow-up, add it to my reply so I have a reminder of what went on before. Otherwise I have to search my directory for our previous exchange.

11. I will usually answer a question that is already answered on my site by providing the relevant page URL.

12. Questions that involve assessing the relative merits of multiple options, such as which mortgage deal or which mortgage strategy is better, are often time-consuming and I just can’t answer all those that come in. I do answer some, with preference to those with well-defined alternatives.

13. I almost always answer questions from members of the armed forces, and from seniors.

14. If I don’t respond, it could be because your letter fell into categories 3-9 above, but it could also mean that your email address was not correct, or that my spam filter intercepted your letter. In any case, you might want to try again.