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Friday, September 17, 2021
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Alfred Nobel, a renowned chemist, engineer, inventor, and businessman, woke up one morning to read his own obituary. The headline read, “The merchant of death is dead.” At the time of his “reported” death, he was most famous as the inventor of dynamite, which was deployed in warfare and rampantly increased casualties and fatalities. Having the rare misfortune of witnessing his own eulogy while still alive, he steadfastly worked to reset his legacy.

When he died in 1895, he left his entire fortune in trust to fund annual prizes in chemistry, physics, literature, medicine, and, most notably, peace. Since 1901 his “Nobel Prizes” have been awarded annually to almost one thousand of the world’s most impactful people. When I learned of this story, I was inspired by how people could capitalize on a wake-up call and seize the moment to change their lives. Not often do we have the opportunity to proactively “reset” our lives and make such an impact for decades.

For many of us, the opportunity might not be as radical as Alfred Nobel, but there are plenty of moments along the way where we can take advantage of a fresh start. One of the most common concerns people have when considering a refinance is that the loan will reset to a 30-year term. After working hard to pay down principal for months or years, many are apprehensive about starting over. I work hard to show each client a personalized accounting of the life-of-loan savings they might achieve despite going back in years.

Clients are captivated when they learn how to optimize their mortgage, which can be invested or used towards debts or acquisitions. Last year I reset someone’s mortgage with a cash-out refinance, which netted over $70,000 in proceeds. They used the cash to pay off credit card debts, saving over eighteen thousand dollars a year. Tears trickled down his wife’s cheek as they detailed what this reset will do to improve their financial circumstances. So many times this year, I was privileged to help homeowners in the U.S. tap into their equity to buy a residence in Israel. A few weeks ago, I spoke with a past client who proudly told me his $100,000.00 investment from resetting his mortgage has yielded him a twentyfold return.

We are experiencing a unique market dynamic where rates are at historical lows and values at historical highs. It takes a disciplined understanding of one’s past actions coupled with future objectives to monetize everything effectively. This truly represents a unique opportunity to capitalize like never before for the savvy and informed consumer. How are you taking advantage of times like these to shape your financial legacy?

Along these lines, as we approach the Jewish New Year, our mission turns towards reflecting upon our actions and efforts over the past year and our aspirations for the year ahead. Rosh Hashanah is the Day of Judgment - when we stand before God and plead our case for a reset on life and to be granted yet another year. We have confidence in the outcome of His decision, which will yield compassion and clemency. It’s the opportunity to start anew and strive to make a better life tomorrow than we did the day before. Wishing you a wonderful Rosh Hashanah and much blessing and success in the year to come.

Shout out and happy birthday to Elliot Baum, Elie Borger, Aliza Clair, Pnina Fessel, Dalia Sakai Golbari, Daniel Itshakov, Ora Kornbluth, Hillel Lazarus, Moshe Lewis, Daniel Lorch, and Ez Shaffren.


Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Approved funding is a mortgage company offering competitive interest rates as well as specialty niche programs on all types of Residential and Commercial properties. Shmuel has over 20 years of industry experience, including licenses and certifications as a certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. He can be reached via email at [email protected]

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