Discover how Richard Canfield and Mike Hajjar unravel financial literacy and mortgage strategies to build lasting wealth

Episode 37

Mike Hajjar has helped over 2500 families achieve homeownership over the last 20 years. But his journey wasn’t always easy. In this episode, Mike shares how he overcame seven figures of debt, rebuilt his financial life, and developed a deep understanding of financial literacy that transformed the way he approaches business and home financing.

Mike opens up about a major health scare that forced him to pause and reevaluate everything. While in the hospital, he picked up Dale Carnegie’s How to Win Friends and Influence People—a book that changed his outlook and sparked a passion for continuous learning. He explains how financial literacy became the foundation of his personal and professional growth and why understanding the basics is crucial for anyone looking to build wealth.

He talks about the common misconceptions around homeownership, especially the widespread belief that first-time buyers need 20% down. Mike breaks down why that isn’t true and shares how strategic mortgage planning can make homeownership more attainable. He also discusses the shift from a transactional business model to a relationship-based approach, emphasizing the importance of working closely with financial advisors, CPAs, and estate planners to create long-term financial success for his clients.

Mike explains why the mortgage industry is undergoing a major shift and how professionals who focus on education and strategy will be the ones who thrive. He dives into the challenges that younger generations face in affording homes and the innovative solutions being used to combat the affordability crisis, from shared ownership models to creative financing options.

As an ambassador for financial literacy, Mike is dedicated to educating the next generation. He discusses his work with First Home IQ, a nonprofit that helps bring financial education into schools. His mission is to equip young people with the knowledge they need to make informed financial decisions, whether they plan to buy a home or not.

He also explores the future of the real estate market, predicting that supply and demand will take decades to balance out. He explains why home prices are unlikely to drop significantly and how rising interest rates are reshaping the industry. Mike shares insights on the power of reverse mortgages and how they can be used as a strategic tool for retirement planning.

This episode is packed with valuable lessons on financial literacy, homeownership strategies, and long-term wealth building. Whether you're a first-time homebuyer, a real estate professional, or someone looking to gain control of your financial future, you won’t want to miss Mike’s insights.

To learn more about Brian Galke and his work, please visit:

Website: https://beacons.ai/mikehajjar

LinkedIn: https://www.linkedin.com/in/mikephajjar/

Instagram: https://www.instagram.com/mikehajjar_mortgage/

Facebook: https://www.facebook.com/mikehajjar87/videos/?_rdr

0:00 Embrace Financial Literacy Basics
5:13 Perseverance Over Health Challenges
6:59 "Business Mindset Transformation"
9:52 Transition to Relationship-Based Mortgage Planning
14:43 Challenging Financial Perspectives
18:30 Early Reverse Mortgage Boosts Retirement
21:40 Reverse Mortgage vs. HELOC Comparison
26:37 Overcoming Debt with Determination
27:51 Persistence Through Financial Struggles
31:52 Financial Literacy Education Outreach
36:08 Collaborative Strategies for Mortgage Professionals
41:41 AI's Role in Mortgage Planning
45:04 Housing Market Predictions & Trends
46:54 Changing Commercial Space Demand

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