Radio personality passes along advice

AC Green, (pictured) a well-known radio personality, is giving advice to homeowners and to others about how to navigate the economy during COVID-19. Photo courtesy of Melanie L. Brown
AC Green, (pictured) a well-known radio personality, is giving advice to homeowners and to others about how to navigate the economy during COVID-19. Photo courtesy of Melanie L. Brown

Radio personality passes along advice

AC Green has spent his career as a radio personality, giving people pertinent financial information in the hopes that they will be able to flourish and become successful. During his 17 years on the radio, he has helped thousands of people save their homes with his advice. Now, Green is giving advice on how people can navigate the economy during COVID-19.

Green said every eight to 10 years, the stock market goes through a market correction, in order to correct the bloat. He said the last market correction happened in 2008, it was a real estate correction.

“Because they’re in the business of money and the movement of money, it’s just a correction. It corrects the bloat,” he said. “So, on the ground, when people see that they cannot do the things they used to do economically, like get loans for things, in their life, it’s a crash. To the market, it’s a correction,” he explained.

Green said this market correction we are currently experiencing is happening because of COVID-19. He said now we are in the honeymoon phase of the crash or the correction.

“People really don’t know where things are sitting, because they still have a little money left from when they were making money,” he said. “Right about now, going into the second full month, it is going to set in that things have absolutely changed.”

Green said what people should do is fight for a modification of their mortgage. He suggested with the assistance of a law firm, for homeowners to get their mortgages restructured.

“You don’t get a lot of opportunities to make corrections all the time,” he said. “So, when the market corrects, you correct. You have to move with the market.”

Green advised to fight for the modification, and lower the monthly mortgage, and not a forbearance, because with a forbearance, they will make you pay money back in three to six months.

“You’ve got to lower the monthly mortgage and the principle whenever you can,” he said. “Lower everything, knowing that it’s not sustainable for you not to do it. Lower everything – credit card payments, mortgage payments, everything.”

Green said there is a difference in using a law firm and going aft er the modification yourself. He said, a big difference is in the way information is submitted.

“If and when you go to a law firm that knows all of these things, they’re going to submit that information to your mortgage company

with the knowledge of thousands of modifications, with many banks, including the bank most people are with, with the knowledge of what works and what doesn’t,” he said.

Green added so, instead of “shooting darts at a wall,” the lawyers will specifically put together your packet for what qualifies with the bank and you get the mortgage modification, he said.

Green talked about the wealth gap and how it has evolved into a health gap. He added it’s important to have money and resources.

Another thing he advised was to have multiple streams of income. Green said to start to have another economic engine that you control, in addition to your employment.

“You have to investigate ways to have multiple streams of income. I do understand that you may not have the passion for a particular thing, or maybe the creativity for a particular thing right now,” he said. “Having another stream of income, or what I call an ‘economic engine’ is not something you need to have because it is necessarily your passion.”

Latest Stories

Latest Podcast

STARR Community Services International, Inc.