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I know that both Realtors and Loan Officers have past clients who are either behind on their mortgage or are upside down on their home. Many are looking for help and guidance from their real estate professional. Here is one answer.
My mortgage practice has evolved to include a consulting service for distressed homeowners. I offer a free phone consultation to help people understand which option is the right choice for them and the costs associated with that choice.
Their options may include loan modification, forbearance, a short sale, or even a deed in lieu agreement. The problem is that lenders are simply not modifying loans in any meaningful way because there really is no incentive to do so.
If they are in an ARM, I may suggest a "forensic mortgage audit" to see if the closing documents and deed of trust contain violations of Federal or State law. You may not realize that as many as 80% of all ARMs originated since 2001 contain violations of the many State and Federal anti Predatory Lending laws. If errors are found, a homeowner will have a significantly better chance of negotiating a favorable modification agreement or forbearance on their own without spending thousands on a "loan modification" company.
A successful forensic mortgage audit will force the lenders' hand. When facing their options: modification, foreclosure, litigation, or stiff federal fines and penalties, many lenders will choose Loan Modification as their most financially sensible option.
If they choose legal action against the lender, their attorney will be able to stop any foreclosure proceedings immediately and they can often remain in the home without making payments until the case is resolved.
There are several provisions in the new housing rescue bill signed into law recently that may help by refinancing based on the current value and without credit qualifying. If the homeowners are 62 or older, I have used a reverse mortgage several times to keep people in their homes. Again, without credit qualifying.
The difficulty for most distressed home owners is in understanding which of the confusing programs is the best choice and that is where I can help.
If your clients are interested in this free, no obligation service, I will need them to make a phone appointment. The calls generally last 30-45 minutes and can often be scheduled at a time convenient to them.
The information I will need includes:
•1) The current loan type, balance, payment, and interest rate
•2) I will need to know who the lender is
•3) I will need to know if they have received a Notice of Default
•4) I will need to know their current income
I have a "white paper" on the forensic mortgage audit process and would be happy to share it with you by email. The audits work and we are in fact keeping people in their homes.
Take care and God Bless. We will find a way out of this mess.
One of the most exciting new provisions of the Housing and Economic Recovery Act of 2008 is the First-Time Homebuyer Tax Credit. The credit is designed to encourage first-time homebuyers to go ahead and make the leap to purchase their first homes. Combine this tax credit with the fact that home prices are at historical lows, and indeed it is an ideal time for many first-time homebuyers to purchase homes.
Here are some things to keep in mind:
- The credit is available for homes purchased between April 9, 2008 and July 1, 2009
- The credit amounts to 10% of the purchase price of the home not to exceed $7,500
- A first-time homebuyer is defined as someone who has not owned a home in the last three years
- Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit
- The tax credit works like an interest free loan and must be repaid over a 15 year period
How does a tax credit work?
A tax credit is a special provision that reduces income tax liability on a dollar for dollar basis. When filing a tax return, you must include income items, deduction items and the number of exemptions, among other things, to figure your total tax liability. If your total tax liability ends up being $7,500, and you qualify for the full $7,500 tax credit, this credit would be applied and would wipe out all of the tax due. If your employer had already deducted the $7,500 from your pay checks throughout the year, you would receive a tax refund of $7,500.
Does the credit have to be repaid?
Yes, the credit does have to be repaid, so it is really more like an interest free loan. Homebuyers will be required to repay the credit to the government, without interest, over 15 years or when they sell the house, if there is sufficient capital gain from the sale. For example, a homebuyer claiming a $7,500 credit would repay the credit at $500 per year. The home owner does not have to begin making repayments on the credit until two years after the credit is claimed. So if the tax credit is claimed on the 2008 tax return, a $500 payment is not due until the 2010 tax return is filed. If the home owner sold the home, then the remaining credit amount would be due from the profit on the home sale. If there was insufficient profit, then the remaining credit payback would be forgiven.
How can a Loan Officer involved in the Loss Mitigation business help a real estate investor and Realtor make money?
Actually, in several ways.
•1) We can help you stop wasting time chasing deals that will never close
•2) We can help you identify those deals that lenders will accept as a short sale
•3) We can help you determine the best price a lender will accept for a property
•4) We can help you get financing in this market
Here is the issue:
There are literally tens of thousands of homes that have already been foreclosed on, are about to be foreclosed, or the current owner is late on their mortgage payments and is heading into foreclosure. It really is tragic for the home owners but it is going to happen for most and it will happen regardless of any Government bail out package of Wall Street. Many industry analysts report that nearly $1,000,000,000,000 (yes, that is one Trillion Dollars) in adjustable rate mortgages will reset in 2009 and 2010.
Given the credit crisis we are in, only Pollyanna herself expects those payments will drop. The tsunami of foreclosures has not gotten here yet.
Sad as it is, the real estate market is what it is and we have to move on. If you are a real estate investor, or Realtor working with a client who is looking to buy a home for their family there are incredible bargains in every market in this country.
Here is the problem:
Most lender's Loss Mitigation departments are stupid. Their REO lists have exploded and they are adding more foreclosures every single day. The kids they have hired to "negotiate" short sales are overwhelmed, very poorly trained, and as hourly employees could really care less if the transaction closes or not.
If you are an investor, Realtor or God forbid, a home owner trying to move a transaction through this maze, I wish you luck. As a result, most people trying to negotiate a short sale fail miserably. Most of my investor clients report that they have invested hundreds of hours in getting these transactions to the table and they take months if they ever do close.
Here is the solution:
In addition to my mortgage practice, I have associated with a group of attorneys who practice exclusively in the loss mitigation area. The attorneys have proven their skills in negotiating short sales if that is in the client's interest. They have closed an incredible 86% of the short sales and 92% of the loan modification cases they have accepted in the last 6 months. I believe the reason they have been so successful is that they are reviewing both the closing documents and note for "actionable" errors and omissions and are escalating the negotiations from the lenders Loss Mitigation department to the Legal department. They also use a "prequalification" process to determine who they can help and what the cost of their services will be as every case is certainly different.
I have written a "white paper" on the loan modification and/or Short Sale process explaining what they are and how they can help you and your clients. If you would like a copy, either email me at bgammache@verizon.net or through AR and I will get it right out to you.
Bob Gammache CMPS
Short Sales
Short sales have become a large and growing part of the real estate market today. Short sales are defined as a transaction where the seller and their lender accept a purchase contract for less than the amount owed on a property.
Short sales can prevent a costly foreclosure from a lender's and owner's perspective and from an investor's perspective, short sales may allow you to acquire a distressed property significantly below market value.
Short sales. even when beneficial to all parties, are notoriously difficult to negotiate unfortunately, given their complex nature and many homeowners and investors and their Realtors "give up" when the lender becomes difficult to deal with.
As a result, and as a part of my loan modification services, the attorney group I work with are offering to negotiate with the lender to bring short sales to a successful close and in a timely manner.
If you are a homeowner trying to negotiate a short sale of your home, you absolutely need legal representation to avoid a deficiency judgment after the sale.
If you are an investor trying to buy a property in a short sale, our attorneys can help you and the seller negotiate with the lender to actually get the transaction closed. While our attorneys represent the seller, they are working in the interest of getting the transaction done and can be very helpful in negotiating a win-win situation for all parties.
If you are a Realtor representing a homeowner, bringing in a skilled negotiating team of attorneys into the mix will often be the difference between closing quickly or simply adding one more foreclosed property to your local inventory.
Short Sales 101 is a FAQ that I wrote from the homeowners perspective that may be useful to you or your clients.
Short Sales 101 Financial hardships are often unforeseeable events. Thousands of people are in this situation. You are not alone.
But for now, take a long deep breath, and read the following information to learn more about our services. We can help save your home and possibly avoid foreclosure. Once you apply, our professional staff of specialists will evaluate your hardship and current financial situation. A representative will contact you immediately. You will rest easier knowing you have a team of professionals on your side through these hard times.
What is a short sale? A short sale is an agreement with a lender allowing for the sale of a property to a third party for less than the amount owed on the mortgage. Under this agreement, the lender accepts less than the amount owed and releases the borrower from the mortgage, thereby preventing foreclosure.. (This would include all excise tax, closing costs, agent commissions, etc.)
Why would my Mortgage Company want to allow a Short Sale to help me? That is a simple answer, the short sale can save your mortgage company thousands of dollars. The average savings for the companies range from $10,000 - $60,000. Good reason for lender to do a short sale.
When should I start my Short Sale? When you realize you can no longer afford the mortgage and cannot sell the property for what you owe on it. The quicker you start, the more chance you have.
How long does it take for you to complete a short sale once we fill out the paperwork? The typical time frame to complete a short sale is three months. If we are in a time crunch with a foreclosure sale date approaching, a rush will be put on the file.
What is a Deed in Lieu? A Deed in Lieu is when the property is deeded back to the lender with the approval of the borrower prior to foreclosure. This can have a huge impact on one's credit.
What is a Deed? A legal document conveying title to a real property.
What is Loss Mitigation? Loss Mitigation is a process to avoid foreclosure. Lenders use loss mitigation to contact and help borrowers who have fallen behind on their mortgage payments.
What is a Loan Modification? A mortgage modification is an option that allows a borrowers to refinance and/or extend the term of the mortgage loan and reduce the monthly payments.
What is a Forbearance Plan? A forbearance plan is an option where the lender arranges a revised repayment plan. This could include a temporary reduction or suspension of monthly loan payments.
How long is a Short Sale process? Each case is completely different depending on circumstances and the mortgage company, but usually a short sale process can take between 2-5 months. There must be an end buyer to the property to be completed.
How does a short sale and foreclosure report on my credit? Foreclosures can show up as a FORECLOSURE. This could report for as long as seven years. Foreclosures will usually have to be disclosed on any new loan applications in the future. A short sale usually reports as a SETTLED DEBT. This could have less impact on your credit, but please consult a credit company for more information.
What liabilities could result from doing a short sale? A lender could possibly 1099 you for the difference in what you sell your property for and what was owed on the property. What this means, the IRS could consider this taxable income. Another result could be the lender requiring a portion of the difference to be paid back in form of an unsecured note. All of this is up in the air until these items are negotiated. That's were we step in to help you. We want to have the lender consider the debt SETTLED.
What liabilities could result from getting foreclosed on? Unlike a short sale, a foreclosure is usually sold at auction. This usually means there is a wider gap in the difference that you owe and what the house actually sales for. What does this mean to you, a higher potential tax liability. Furthermore, the bank may come after you for a Deficiency Judgment. If a short sale is accomplished compared to a foreclosure, there are no guarantees, a successful short sale should eliminate a deficiency judgment, minimize your tax liability, and keep the foreclosure off your credit. President Bush signed law H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007 to help relieve borrowers from getting 1099 and their losses. Losing your house is enough. "On December 20 President Bush signed into law H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007. H.R. 3648 will provide relief from that kind of tax bite in certain specified situations. Beginning January 1, 2007 and lasting until January 1, 2010, certain discharges of mortgage indebtedness on a principal residence will be excluded from a taxpayer's gross income. As always, though, certain restrictions apply. For more information on deficiency judgments and the tax liability you may face based on your current situation, submit your information to one of our analysts for a free consultation, and as always consult your attorney/tax advisor."
What is a Deficiency Judgment? A Deficiency Judgment is the usual result from a lender selling a house at foreclosure auction. The judgement is usually the differenct between the amount that was owed on the house (including any fees, taxes, etc..) and the amount the recieve from selling the home.
Why is the process take so long? The lenders are overwhelmed with borrowers in this same situation. Lenders are processing thousands of files each day. Thats why its exttremely difficult to actually work with the lenders if you do not know the process. It can often take 8-12 phones calls everyday for weeks just to get a return phone call from your lender's loss mitigation deparment. We even sometimes sit on hold for one to two hours.Luckily, with many lenders, we have ongoing relationships that allow us to negotiate multiple transactions with the same phone call.
How are non-owner occupied properties affected when short selling them? For short sale negotiations, non-owner occupied properties are handled in the same way as owner occupied properties.
Can the listing real estate agent be the purchaser on a short sale? Usually, that is not a very good idea. We like to keep and maintain arms length relationships in short sale transactions. We do not buy your home or have any reason to buy your home. Our goal is to help you avoid foreclosure by selling your home.
Must there be a hardship to do a short sale? Not necessarily, but having a hardship will have a better chance of doing a short sale.
Why are photos needed for the home? Your lender relies on us to provide them information. They have know knowledge of any of the homes disrepair without photographs. The old say "A picture is worth a thousand words" is needed here. Photos of repairs needed, such as roof and pool repairs should always be taken. Photograph every little deficiency in the entire home to paint a picture for the lender.
Can I short sale multiple properties? Yes, but we will still need the short sale packages completely filled out for each property. However, the supporting documentation such as the hardship letter, financial statement, bank statements can just be reproduced for each package.
Can I short sale on commercial and Multi-Family Properties? Yes, same packages must be filled out too.
Can multi-million dollar homes be sold by short sales too? Yes.
How much attention does my short sale file receive? We usually touch each file transaction almost every business day, we are here to help you get relief quickly.
Can I call for updates on my short sale transaction? Yes, but remember, the more calls to our office the less time we are working on your file. This is not a one week solution. Limited calls will also allow our specialist to focus their time and effort on your transaction. Once the complete package is received, it will be assigned to a specialist who will call you with updates.
Email me at bgammache@verizon.net for more information or call Bob Gammache, CMPS at (888) 648-1714
Loan Modification. What it is and how it may help you.
Loan modification may be an alternative for home owners facing foreclosure in the difficult 2008 housing and credit market. Unfortunately, there is a great deal of misinformation about the both the loan modification process and the reasons you may want to consider a loan modification if you are having financial difficulty.
I have been a professional mortgage broker since 1991. To assist those who I am unable to help with a refinance during this difficult credit market, I have associated with an attorney based firm offering loan modification help to homeowners trying to save their home. Nationwide Home Relief, LLC. is committed to assisting homeowners who are struggling to make their mortgage payments. This team of Loan Modification specialists will represent your best interests. They negotiate with your lender in an effort to stop foreclosure and find a long term solution to your problem.
A loan modification is an agreement that is negotiated with your lender that changes the terms of your current loan. Lenders can be willing to negotiate when you are facing financial difficulties and can not find other financing alternatives. You must be able to show your lender why it would be in their best interest to agree to a modification. A lender may be willing to reduce the interest rate, monthly payment or change other terms. It is important to understand that a loan modification is not reported to the credit agencies and will not have an adverse impact on your credit scores.
You may consider loan modification if you:
Can not refinance
Have an adjustable rate mortgage
Are behind on your mortgage
Your mortgage payments are too high
Have a hardship
Are self employed
Have no equity in your home or are "upside down"
If your lender refuses to accept partial payments
If you are in or about to go into foreclosure
What should you do when you get behind on your mortgage?
Do not ignore this issue. A sheriff may evict you from your home. This is a serious matter and is extremely time sensitive.
Stay in your home. A vacant home is harder to qualify for help. This is your home, stay there.
What is the Foreclosure Time Frame?
Usually 90 days past due will trigger the mortgage lender to issue a Notice of Default. Once the NOD is issued, the lender will hire an attorney and begin the Foreclosure process with the court system. This is were the attorney's fees start piling up and getting really expensive. The foreclosure process has a very strict procedure, which is different in each state. If no foreclosure prevention action is taken, eventually the house will be sold at a public auction.
What are your options?
You have several options to help stop or prevent foreclosure. Every option is different and has certain requirements to get approved by your mortgage lender. We will advise you of your best option based on your individual circumstances. You will have to qualify for an option and the lender has to agree to specific terms.
Different loan modification options include:
Reinstatement Plan
The Reinstatement is basically the total amount that is past due including late fees and attorney costs. Paying the past due balances will get your mortgage caught up immediately. There might be a huge amount of past-due fees which could include back payments, late fees and legal expenses. Reinstatement might be accomplished if you can promise a lump-sum to bring your payments to a current status by a specific date.
Repayment Plan
A common way to bring a loan current is the repayment plan. Many lenders will require that up to 50% of the past due balance is to be paid. While this sounds great, in many cases this is just not possible. After all, if you had 50% of the past due balance, you probably would not be that far behind. You will still need to collect all the documentation but will ask that your lender work with you on obtaining a reasonable amount of money from you to bring your loan current.
Loan Modification/Loan Restructuring
Many people will find themselves using a Loan Modification Plan to stop foreclosure. If you can currently make your regular payment, but you cannot catch up with the past-due amount, you may negotiate with your lender to roll any past-due amounts, including interest and escrow, into the unpaid principal balance.
If you are unable to make payments at this rate, you will need to negotiate with your lender to extend your loan for a longer period of time, modifying the loan amount to a more affordable level. You may be successful at lowering the interest rate, giving you a lower monthly payment which you can afford. If your rate has adjusted, you may be able to have the rate adjusted back to the lower rate.
Loan Forbearance
Loan Forbearance is designed to give people time to gather their assets. During Loan Forbearance, the mortgage company allows you to delay or reduce payments for a short period. This delay does come with a commitment and understanding that another option will be used after the short period to bring your mortgage to a current status. This could delay and even terminate the legal action taken by your lender.
Partial Claim
Partial Claim only applies to clients with current FHA loans. Your mortgage company might agree to help you with a one-time payment, which would come from the FHA Insurance Fund.
Qualifications needed for this help may include:
Must be at least 4 months delinquent, but no more than 12 months
Able to begin making full payments again
Resolution of past hardship
May or may not be in Foreclosure
The mortgagor has the ability of long-term financial stability to support the mortgage debt or make the payment
If the home owner cannot bring the loan current through a forbearance of loan modification
Property is primary residence
HUD will require a signed promissory note. HUD will then place a lien on your property which is interest-free and will allow you to bring your loan current. However, the balance of this loan will be due when you pay off the loan or sell your home or leave the property.
Terms for Partial Claim:
Interest-free Note.
No monthly or periodic payments
Note due when the mortgage is paid off or when the home owner sells the property
No repayment penalty
A refund can be applied for the mortgage insurance premium when the note is paid in full
Note payable to HUD
Partial payments can be made by cashiers check or certified funds
Finally, The Partial Claim may be combined with alternate plans. Even special forbearance may be combined to be more flexible for the home owner.
Pre-Foreclosure Sale
If you are willing to sell your home or currently have your house on the market, some lenders might agree to put your foreclosure on hold while you attempt to sell your home through traditional real estate methods. This will stop the foreclosure process and may allow you to sell your home and walk away with some money in your pocket, rather than losing it! In some occasions, the new investor may be willing to give you a lease option to buy.
Short Sale
For some home owners, selling their home and starting over is actually the relief that they need. Home owners might review their financial portfolio and realize that they obviously cannot afford their home anymore. Most home owners have finally realized this after a long period of time, then have tried to sell their home the original way and have had no success.
Due to recent and current market fluctuations and changes beyond your control, many home owners cannot sell their home for their current offering price. This is where a Short Sale comes in and allows you to sell your home at a discounted price.
Deed-in-Lieu of Foreclosure
A Deed-In-Lieu procedure allows the home owner to give the property voluntarily back to the lender. Often, the debt or deficiency is forgiven. A Deed-In-Lieu will not save your home, but may be used to avoid a long legal process of foreclosure and increase your chances of getting a loan in the future. Deed-In-Lieu will have a negative affect on your credit. However, it is often a better alternative to a foreclosure.
Loan modifications can be arranged for any type of home and it does not matter if the home is owner occupied or an investment property.
Can you try to negotiate with the lender on your own? Of course you can. Just as if you were being sued, you have the right to represent yourself in court. However, that is usually not the best idea.
Homeowners who are behind or in default are in no position to effectively negotiate with their lender. A professional mitigation team of attorneys will build a case which places the lender in an obligatory position. Statistically, a legal team will get you a much better deal than you can accomplish on your own.
It is very difficult to effectively negotiate with your lender when you are behind on your payment. We separate the emotions and turn this into a business decision for you and the lender.
Call me TODAY to see if a loan modification will help you save your home.
Bob Gammache, CMPS
(888) 648-1714
Nationwide Home Relief, LLC
105 Clearcreek Ct
Moneta, VA 24121
Two weeks ago, the mortgage market lost both my employer, Carteret Mortgage and Homecomings Financial. Between the two mortgage companies, nearly 1500 more mortgage jobs are gone.
Carteret Mortgage grew to be the second largest mortgage brokerage in the US and at one time had nearly 2,000 loan officers. I had been there since 2002 and was a branch manager and a recruiter. It was a great ride while it lasted. I did make an extrordinary number of good friends while I was there however. It is really sad to watch a company go from closing 4 billion in mortgages in 2005 to bankrupt in 2008.
But, as they say, "When one door closes, another one will open"
I have accepted a position with TMC Lending as their Senior Branch Manager and will also be their National Recruiter
TMC Lending is an "out of the box" lender/broker licensed in all 50 states. Depending on an individuals level of experience and interest, we offer loan officers positions from a senior branch manager position to a part time position if you simply need a home for a loan from time to time.
One area in the company I want to develop are with the part time loan officer relationships. It is clear to me that there are many loan officers who have been forced to find other work and these positions will allow an individual with experience an opportunity to keep producing while not having to deal with quotas.
One of the things that I believe sets us apart from most others in the industry is that we have a very real focus on training for our loan officers and their Realtor partners. As you know, in this market, Mortgage Lending and Real Estate have never been more of a "knowledge business" than they are today. Our Mentorship Program and webinar based training will give you and your Realtor partners the tools you need to prosper and grow your business to the next level.
You may also want to know that TMC Lending is offering our loan officers the ability to create multiple streams of income with a very useful and affordable credit repair program and a loss mitigation/loan modification program that will beat any other product I have seen in the marketplace.
Please take a few minutes to visit www.tmcloans.net and www.freerealtortraining.com for more information.
If you have an interest, in growing your business with us, I will need a copy of your resume and a good time to chat by phone for a few minutes.
Article Writing Tips
Writing articles isn't as hard as you may think. If you understand the rules of proper grammar, and you have a word processor or word processing software that includes a spell checker, writing articles becomes quite easy in fact. Here are some tips to help you get started.
1. Don't make it harder than it really is. This is the first mistake that most new article writers make. Think about what you want to say, then just start writing. Don't worry about spelling or grammar, just write until you have said all that you wanted to say. Editing comes after the information is down on paper - or on your computer screen in a document.
2. Don't get stressed over your topic. You already know what it is that you want to market, it's You! Look at your real estate service from a customers point of view. Visit forums where your customers participate and find out what their questions are. Have you tried Yahoo Answers yet. Lots of questions in the real estate section. Loan Officers, there is a finance section too. Base your articles on those questions, answering the questions.
3. Don't make your articles too long or too short. Articles should be between 300 and 750 words, with the optimal length between 300 and 500 words. Use the word counter on your word processor, and don't go over or under these words.
4. Do not submit your article the minute you finish it. Put it away and come back to it later. Read it over and make sure that you have said what you wanted to say, and then have someone else read it. Ask for constructive criticism, and really pay attention to what your test reader has to say.
5. You are writing an article, not a sales letter. The article should inform and lead readers to your website. The selling is done at the website. Articles that are obvious sales letters lose the readers respect and damage your credibility.
6. Stay Focused. Make sure your article stays on track. If you find yourself writing away from what you originally intended your article to be about, make a note about the new article idea you have accidentally found, and get back on track with your original plan.
7. Finally, write like you talk. Write like you are talking to a close friend. Don't try to use words that you have to look up in the dictionary. Use your everyday language, and your personality will shine through. Allowing your true personality to shine through in your articles is the first step to building a relationship with your readers.
Bob Gammache has been originating mortgages since 1991 and is the author of a mortgage education website at www.nva-mortgage.com. Bob has also been instrumental in the development of the Internet Dream Machine, a turn key business opportunity useful to many Realtors and Loan Officers trying to survive the housing slump.
Types of Articles You Can Write
What type of article should you write? Were you even aware that there are different types? There are! In fact, there are five types of articles: the tips article, the story article, the personal experience article, the facts article, and the recommendation article. Let's take a look at each type.
The tips article is of course an article that provides the readers with tips on a particular subject, how to stage a home or the advantages of FHA loans. The tips may be numbered, or laid out with bullets, and the title should include the number of tips that will be covered, such as ten ways to stage your home os 5 advantages of FHA loans. I am sure you get the picture
The story article is exactly what it says. It is used to tell a story that is not necessarily the writers own personal experience. The story may be true or it may be fiction, but it will almost always be about somebody else. The trick is to keep the reader reading!
The personal experience article will be about you and an experience that you have had that relates to your niche market in some way. For instance, "How I got a investor financed" would most likely be a personal experience article.
The facts article is simply an article that informs, using proven facts for content. For instance, "What sells in this market" would be a facts article, because you have research to draw from to provide content and back that content up with proof.
Finally, there is the recommendation article. You must be very careful with a recommendation article. These are used to promote a product or service, but the content of the article must be informative in nature. For instance, if you are recommending an FHA loan, the article cannot be ‘salesy' in nature. It must inform. For example, you might discuss the problem of low credit scores, and use facts or your own personal experience to show that FHA loans accept lower credit scores than conventional loans do.
Many writers often combine different types of articles into one article. You can do this as long as you don't run over 750 words in length. The important thing is to choose the article that you need to convey your message and get readers to visit your website.
Bob Gammache has been originating mortgages since 1991 and is the author of a mortgage education website at www.nva-mortgage.com. Bob has also been instrumental in the development of the Internet Dream Machine, a turn key business opportunity useful to many Realtors and Loan Officers trying to survive the housing slump.
The Expert Use of Article Marketing in Internet Marketing Today
In the history of Internet Marketing, which is indeed still a short history, Article Marketing has been shown to be one of the most effective ways to market a Realtor or Mortgage Origination website at little or no cost. This still holds true today, and will most likely be true for many years to come.
Article Marketing is viral in nature. Once an article is written, and it is submitted to multiple article banks, it is then providing back links to your website or blog. From there other website owners may copy the article, with the authors information in tact, and publish it in their newsletters, blogs or on their websites. They may even use your article as part of a compilation for an informative ebook.
The important thing is that the article becomes viral, spreading far and wide. This accomplishes several things. As already mentioned, this provides you with back links to your website that helps with search engine optimization. Since your author's information, or resource box, is at the bottom of the article, this gives your website a great deal of exposure, and increased traffic.
Article Marketing accomplishes several other things that are vital in internet marketing today. First, writing and distributing articles helps to establish you as an expert on the topic you are writing about. Second, it helps to build a ‘relationship' with people who read your articles, which in turn builds trust.
Successful internet marketers typically write and distribute at least one article per week to the various article banks. They may use articles that they wrote for their newsletters as well for distribution, after the newsletter has gone out to subscribers. If the website owner does not write well, or doesn't have the time to write their own articles, they typically hire a ghost writer to create the articles for them.
The articles that are distributed by successful real estate people are informative and well written. They are not sales letters disguised as articles. They are informative vehicles that are used to get readers to visit their websites, providing helpful information, with the author's information at the bottom, including a link to the website.
Bob Gammache has been originating mortgages since 1991 and is the author of a mortgage education website at www.nva-mortgage.com. Bob has also been instrumental in the development of the Internet Dream Machine, a turn key business opportunity useful to many Realtors and Loan Officers trying to survive the housing slump.
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Bob Gammache, CMPS
Smith Mountain Lake,
VA
More about me…
Carteret Mortgage
Address: 105 Clearcreek Ct, Moneta, VA, 24121
Office Phone: (540) 719-1115
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