Bill's Blog

currently running 3-4 days in underwritting

Monarch mortgage — Wed, 28 Oct 2009 09:36:55 -0500

I will be accepting ratified contracts up to the 16th of November to settle before the deadline...call me for scenarios, quotes, and questions !!!

No Points w/1 Point

FHA under $417k 30-yr 4.875 % 4.625 %

15-yr 4.375 % 4.250 %

FHA over $417k 30-yr 5.125 % 4.875 %

15-yr 4.500 % 4.375 %

FHA 2/1 Buydown 3.250% 3.000 %

VA 30-yr Fixed 5.000 % 4.750 %

Conforming 30-yr Fixed 5.000 % 4.750%

Jumbo Conforming 30-yr 5.250 % 5.000 %

Jumbo Conforming 5/1 ARM 4.125% 3.875 %

Jumbo Conforming 7/1 ARM 4.500% 4.125 %

Construction to Perm financing over $417K.

NO OTHER LENDER DOES C-PERM'S BETTER !!!

Bill Vourazeris

Senior Loan Officer

Cell: 443-618-2880

Efax: 866-955-9584

email: bvourazeris@monarchmtg.com

www.monarchmtg.com/bvourazeris

"The BEST compliment is a referral to a friend or family member, Thank you"

April 2009 You Magazine

Monarch mortgage — Sat, 11 Apr 2009 11:49:45 -0500

Bill Vourazeris
SR Loan Officer
Monarch Mortgage
Phone: 443-618-2880
BillVourazeris@comcast.net

April 2009


	March 2009
	February 2009
	January 2009
	December 2008
	November 2008
	October 2008

Fear and Greed in the Real Estate Market "Be greedy when people are fearful and fearful when people are greedy," says Warren Buffet, one of the richest men on the planet. And with so much fear in the real estate market right now, you may be wondering now that spring is officially here, "Is now the right time to buy a home?" Keep Reading »

Finish Strong How Do You Respond to Challenge? Irving Berlin once said, "Life is 10 percent what you make it and 90 percent how you take it." So, how do you take it? Before you answer the question, we urge you to use the next few moments to watch Finish Strong, an inspirational video with a meaningful message. Keep Reading »

The Eyes Have It Advice from One of Hollywood's Top Makeup Artists It's been said the eyes are the windows to the soul. If you prescribe to this notion, you'll also agree that great looking eyes do more than enhance your look. They convey positive emotion, enhanced energy, and confidence. Be sure to watch our exclusive video, as one of Hollywood's top makeup artists gives correspondent, Jill Wilderman, her tips for creating spectacular looking eyes. Keep Reading »

Card Issuers Tighten The Screws Kiplinger.com Real estate isn't the only industry to be affected by the turmoil in today's financial market. More and more credit card companies are clamping down on their current clients by raising required credit scores or lowering existing credit limits. Here's how you can stay in their good graces and avoid sky-high rates. Keep Reading »

Wok This Way A Neophyte's Guide to the Perfect Stir-Fry By Kirk Leins Pretty catchy title, eh? Stir-fries are one of those dishes that most of us love, as long as they're done right, of course. So, how's your stir-frying? Have your attempts at this age-old cooking method yielded less than spectacular dishes? If so, I ask you to read this article carefully. Doing so may just result in a meal fit for an emperor. Keep Reading »

Cool New Gadgets The Title Says it All It doesn't matter if you're an electronics geek, or electronically challenged. Gadgets can be really cool. It's our opinion that the best electronic gadgets not only serve a legitimate purpose, they also have a big-time "wow" factor. Following are our picks for five of the coolest new gadgets. Keep Reading »

Spring Cleaning and Repairs Money-Saving Tips from the Pros Fresh rains in the early spring are symbolic of the season itself, offering a revitalizing cleansing of the outdoors. The warming weather also offers a reminder to homeowners that now is the ideal time to do a bit of spring cleaning. After all, a bit of due diligence by homeowners not only freshens their living quarters, it also helps them save money and avoid more costly repairs down the road. Keep Reading »

Bill Vourazeris
Monarch Mortgage
600 Jefferson Plaza #205
Rockville, MD 20852

Budget for Your Peace of Mind

Monarch mortgage — Fri, 27 Feb 2009 18:56:59 -0600

Subscribe to YOU Magazine and other timely market alerts from Bill Vourazeris.

Bill Vourazeris
SR Loan Officer
Monarch Mortgage
Phone: 443-618-2880
BillVourazeris@comcast.net

February 2009


	January 2009
	December 2008
	November 2008
	October 2008
	September 2008
	August 2008

Are your finances keeping you up at night? You're not alone. Almost three-quarters of adults say money has them feeling stressed, according to the American Psychological Association. That's not surprising, especially in today's economy with skyrocketing energy and food costs, tepid investment performance and rising unemployment rates.

The remedy? Tackle that tension with a budget.

If the mere mention of the "b" word raised your blood pressure, take a deep breath and consider this: Budgeting is simply a way to make sure you have enough money to reach your goals.

A budget isn't constricting. It sets you free. When you have a plan, know how much money you have and where it's going, you don't have to worry about it. Knowledge really is power.

Here are the five basic steps to building a budget that'll put your mind at ease. It'll take a bit of time and effort, but it's well worth it.

1. Take inventory
Before you can make a plan, you need to know how much money you have and where you spend it.

For at least one month, track all your expenses. And not just the biggies like your rent payment and grocery bill. Make a note of smaller purchases, too, especially cash purchases that may not show up on your bank or credit card statement. You can carry a small notebook to jot them down, or collect every receipt and toss them in a shoebox when you get home to sort through once a week.

You should also make note of large annual expenses, even if they don't happen to fall in the month you're tracking. For example, if you usually pay $600 every six months for car insurance, jot down $100 this month for that cost.

2. Make a diagnosis
At the end of the month, examine your spending habits and look for red flags. Organizing your purchases into categories - such as housing, transportation, clothing, entertainment, food, dining out, etc. - will help.

This exercise can be eye opening. When I did this with my expenses, I found that I was spending almost as much on "quick trips" to the grocery store each month as I was on my main weekly shopping trip. You may discover you've been spending too much time at the coffee shop, or that you didn't save a single penny for a rainy day.

(Or you may find that your finances are doing just fine and that you had no reason to worry. Good for you.)

3. Put your eyes on the prize
What are your financial goals? Perhaps you'd like to get out of debt, buy a new car, take a vacation or simply stop living paycheck to paycheck. If you have a specific goal, you know there will be a reward for taking the time to create - and follow - a budget.

4. Cut costs and boost income
This isn't so painful when you stay focused on your goal. Look at the problem areas you identified in step two and find ways to fix them. For example, if you found that dining out was eating away too much money, take your lunch to work instead of eating at restaurants. That act alone could save about $100 a month.

That's money you can use to pay down debt, save toward something you want or use as a cushion for rising gas and food costs. Almost everyone has fat they can cut from their spending.

One problem you may need to address: You simply need more money. Start by checking your tax withholding. If you receive a tax refund every year (and most of you do), file a new W-4 form with your employer to get you more money each month, instead of in one big chunk when you file your tax return.

If your expenses and goals drastically exceed your income, you may need to take more dramatic action. For example, getting a part-time job on nights or weekends, selling your car and using public transportation, getting a roommate to cover housing costs, moving to a cheaper city or even moving back in with Mom and Dad. Again, remind yourself of your goal to motivate yourself to do the right thing. Sacrifices today can add up to big rewards tomorrow.

5. Stick with the plan
There's not just one way to budget. Some people choose to do all their spending with a debit card so they can monitor their spending through their online bank statements. Others go the opposite route and stick strictly to cash. They place fixed amounts of money into envelopes for each spending category - and when the money's gone for the month, no more spending.

You could even join an online community, such as Wesabe.com , to track your expenses and get feedback and support from other users. Or put your goals on autopilot - arranging with your bank to make automatic contributions from your checking account to your savings or investments each month.

The key is to make your budget personal. Find a method that works for you, and consistently monitor your progress. You'll soon find your stress replaced by confidence - and you'll rest easier, too.

You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Bill Vourazeris. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.

UNSUBSCRIBE to YOU Magazine. In the unlikely event you decide that you would not like to receive your complimentary subscription to YOU Magazine, please reply to this email with "Remove" in the subject line.

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Bill Vourazeris
Monarch Mortgage
600 Jefferson Plaza #205
Rockville, MD 20852

443-618-2880

Problems With Your Mortgage? There May be a Short Way Out.

Monarch mortgage — Fri, 27 Feb 2009 17:58:02 -0600

Subscribe to YOU Magazine and other timely market alerts from Bill Vourazeris.

Bill Vourazeris
SR Loan Officer
Monarch Mortgage
Phone: 443-618-2880
BillVourazeris@comcast.net

February 2009


	January 2009
	December 2008
	November 2008
	October 2008
	September 2008
	August 2008

Problems With Your Mortgage?
There May be a Short Way Out

With unemployment figures reaching a 25-year high, the toll of the declining economy continues to impact hundreds of thousands of families each month, especially homeowners struggling with their mortgage. According to RealtyTrac, 303,410 foreclosure notices were served on properties in the month of December alone. This followed the 2,854,396 foreclosure filings throughout all of 2008.

For homeowners facing foreclosure, options do exist that can prevent the trauma of losing their home or facing long-term financial loss. YOU Magazine has addressed these options in previous issues. So, this month we'll focus instead on short sales, an alternative to foreclosure for struggling homeowners who do not want to stay in their homes but would also like to avoid the years of potential financial damage that a foreclosure could cause on their credit rating. If you or someone you know are looking for a "short" way out of a mortgage, keep reading and find out if a short sale is a feasible option.

Don't Be Short-Sighted
Before we dive into what a short sale is and how it can benefit some struggling homeowners, it's important to understand that you're not alone, and that just because you're struggling now doesn't mean you won't be able to recover in the near future. In today's tough economy, millions of Americans are facing challenging situations seriously affecting their finances right now that they can, and will, eventually overcome, including lay-offs, divorce, the death of a spouse, or even major losses in the stock market or their retirement investments.

That's why, before choosing to attempt a short sale, it's important to ask yourself if staying in your home is an option you'd like to explore, because there are opportunities, including a loan modification that may be a better path for some struggling homeowners to pursue. A loan modification would allow the homeowner, in many instances, to renegotiate the terms of their existing mortgage(s) to a more affordable monthly payment(s). This can be accomplished in a number of ways that bring about both temporary and permanent solutions but ultimately allow the homeowner to keep their home.

If you think that a change in your mortgage terms, like a lower rate or lower monthly payments, might help you make it through this rough patch, it's important to communicate with your lender, even if you're several months behind in your payments. Many lenders have reported that in over 50% of the cases where a homeowner is delinquent on his or her mortgage, they have been unable to reach the owner to discuss any options. Picking up the phone and placing a call is always in your best interest. More importantly, opening lines of communication with family members, in many cases, could help lighten the emotional burden that often comes along with these challenges.

When Staying is Not a Viable Option
If, however, you think a loan modification would not be appropriate for your individual needs, one solution to avoiding foreclosure could be a short sale. A short sale is an agreement from the lender(s) to allow the homeowner to sell the property for less than what is owed on the mortgage(s). An example would be an agreement to allow a sale of the home to take place for $175,000 when $300,000 is actually owed on the property.

For a lender to consider a short sale, there are a number of factors that the lender will take into consideration before an approval can be secured, including:

Current hardship, which can include a change of income due to job loss, loss of hours or salary reduction, illness, death of a wage earner, or a change in marital status.
The property is "upside down," which means the house is worth less in today's market than what is owed.

It's important to note that, unlike a loan modification, a homeowner does not have to be delinquent to be considered for a short sale. However, a hardship should be demonstrated showing that the homeowner would not be able to remain current on the mortgage in the future due to mounting financial obligations.

Why would a lender agree to sell your home at a loss? Well, in many cases, the foreclosure process results in a loss of up to 40% or more of the original mortgage balance for the lender. When borrowers and lenders work together on a short sale or loan modification, however, these losses can be reduced by roughly half, in many cases. For example, a foreclosure on a $300,000 home could cost the lender up to $120,000 or more in losses, where they might only lose $60,000 by working with the borrower. Add to that the record losses incurred on other foreclosures, and it's clear why lenders, in many cases, prefer to negotiate a solution.

Credit Benefit
Working with a lender to negotiate a short sale instead of a foreclosure can also be more beneficial to your credit as well, especially if you want to secure another mortgage in the near future when your finances are back on track. According to Fannie Mae, one of the largest mortgage insurers in the country, a foreclosure on your credit record will likely mean it will be between 3 and 5 years before you're able to secure a new mortgage. The typical timeframe to buy a new home with a short sale on your record, however, is only two years.

A short sale also has a lesser impact to your FICO score compared to a foreclosure, which is very important for obtaining future credit from everything including automobiles and consumer credit to getting reconnected with local utilities and cell phones services. Your credit score can even affect certain employment opportunities as well.

Start the Process
The first step of a short sale is to contact your lender and seek their assistance.

The second step is to enlist the help of an experienced real estate agent. An agent who is skilled at handling the negotiation process will not only minimize negotiation time, he or she will also help in limiting the time and costs of marketing the property.

Tony Sena, a real estate agent with North American Realty in Las Vegas, Nevada agrees. Sena, who is currently closing 10-15 short sale transactions a month says, "The single greatest reason for a distressed property not selling is selecting the wrong agent."

When selecting an agent, don't be afraid to ask questions about their experience. Sena says to look at the current inventory of listings the agent represents and ask:

How many of the properties are currently short sale properties?
Does the agent have testimonial letters from short sale sellers?
If an agent says they have sold a number of short sale properties, how many of the transactions were listings sold, not just where they had the buyer.

The third step is to price the house properly, according to the market. While many buyers would love to "steal" your property for the lowest price possible, remember that the lender is already going to incur a loss and they are not interested in losing more than they have to. Sena suggests initially pricing the property at the current value and then reducing the asking price every two weeks until it attracts buyers. Then, once you have an offer, the negotiations on the final price can begin with the lender.

The last step is to be prepared for challenges in both the short sale process and in the market place. Remember, you have a lot of competition out there and getting a property sold can be tough, especially in a buyer's market. However, choosing the right agent and setting the right price can assist you in not only selling it more quickly but also in minimizing the friction of having to deal with the lender directly.

Be aware that, in some cases, not all, a lender will agree to a certain price, but only if the seller agrees to accept a promissory note for some amount of the deficiency - that means money that you will be responsible for paying back. In some cases, Sena has seen lenders ask that sellers pay up to $20,000. However, while early last year the interest rate for these notes was in the range of 4% to 8%, lately Sena has seen that lenders have also been extending offers with 0% and terms of repayment up to ten years.

Get Moving
Once you recognize that you are having problems keeping up with your mortgage payment, take action quickly. Decide whether you want to stay in the home or not. Then contact your lender to find out the best solution to your needs. If you'd like to learn more about short sales or other foreclosure alternatives, a great place to start is by contacting the professional who provided you with this copy of YOU Magazine.

Bill Vourazeris
Monarch Mortgage
600 Jefferson Plaza #205
Rockville, MD 20852

An Opportunity of a Lifetime

Monarch mortgage — Thu, 26 Feb 2009 08:00:00 -0600

An Opportunity of a Lifetime

Warren Buffet says, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful." While Mr. Buffet was writing about buying stocks, the same can be said for housing today.

Housing issues have permeated the economy both locally and nationally. This week, one index that tracks housing prices, S&P/Case-Shiller Home Price Indices, indicated home values fell the most since 1968, declining 18.5% in December from the year before.

Looked at from a different perspective, this means home prices have fallen to levels not seen in six to twelve years, depending on individual markets. Following the Case-Schiller report was the report from the National Association of Realtors (NAR) recently. The NAR reported that home prices for the month of January fell by 14.8%.

The bright spot though in contrast was that the number of homes sold in December increased. Home buyers from coast-to-coast have been buying distressed properties at the rate of 45% of total sales.

Recognizing that now is the time to buy, everyone - from those looking to purchase their first home to seasoned real estate investors - is buying homes today. Bruce Norris, the head of an investment group in Southern California, expects to buy at least 100 homes this year as, "This is the buying opportunity of our lifetime."

Fundamentals Point to Strength
The basic fundamentals of the housing market point to higher prices ahead. Almost half of the properties being sold today are existing homes that are either owned by banks or homes on which banks are accepting short sales, allowing them to be sold for less than what is owed.

New homes or homes under construction are near all-time lows. The country's demographics point to more potential buyers coming into the housing market than projected inventory in coming years. This all points to higher prices on the horizon as demand will be greater than supply. This is supported by the fact that the inventory of unsold homes fell 2.7% in January.

Why Buy Now?
Three very important reasons to buy now are:

Interest rates are near all time lows;
Home prices have declined to levels not seen in years; and
Qualified first-time home buyers are now eligible for up to an $8,000 tax credit.

Lower Prices Don't Always Equate to Lower Payments
One final point to consider. Even if you believe that home prices will continue to decline, it's very difficult to believe that interest rates will remain at these low levels.

Did you know that even if home prices were to decline 10% but also during that time, interest rates available for home loans were to increase by 1.00%, your monthly principal and interest payment would actually be higher? It's true. So, if you are thinking of buying or the end of your lease is near, get busy and get in the game. To quote Mr. Buffet again, "If you wait for the robins, spring will be over."

Call me and we can discuss the best options for you today.

Bill Vourazeris

Senior Loan Officer

Cell: 443-618-2880

email: bvourazeris@monarchmtg.com

www.monarchmtg.com/bvourazeris

"The BEST compliment is a referral to a friend or family member, Thank you"

looking for Realtors to partner with.

Monarch mortgage — Tue, 24 Feb 2009 11:28:24 -0600

Marketing 101

How to Stand Out from the Crowd

The purpose of marketing is to obtain mental real estate. Competition is fierce these days,

as consumers are bombarded with distractions from every direction. How can you make

sure that your message is heard and remembered?

One way is working with a good mortgage person, they can increase the number of transactions you do every month?

Communication is Key

Whether it's a company brochure, a newsletter, or a flyer, the idea is the same. You are

trying to attract the reader's attention!

When you create a company brochure, produce something that's compelling. Remember,

your brochure will be competing with a mountain of magazines in the waiting room. Don't

hand out a standard overview of your company, with a look and feel that mirrors

everything else in your industry. Create something that will "wow" the reader and help you stand out from the crowd. Give me a call to talk about co-marketing.

Newsletters are a popular marketing tool, but their effectiveness depends upon their content. Rather than producing a

lengthy piece that prattles on about your business, try to provide brief bits of interesting information. Give the reader

general news and tips they can use, or at least share with co-workers around the water cooler. Success stories are an

especially useful communication device. Select a difficult transaction you've completed which had a great outcome, and

use it to indirectly illustrate your talents to your customers. If you are looking for a good loan officer to market with please give me a call. I would love to sit down with you over coffee and talk about how I can increase your bottom line.

Utilize Your Database

Your client database is the most valuable resource you have. Do you use it to its full potential or is it merely a repository

for data from past transactions?

Each contact within your database should be classified as either an active or passive lead.

Active leads are those who are about to make a decision, and they should be contacted frequently. Rather than

calling a client to ask if they're ready to commit, try calling to provide them with information instead. Tell them

about an additional feature of the item you've discussed, or bring up a different product for their consideration.

Perhaps you have a special offer that might interest them. By contributing something of value to the

conversation, you're able to touch base and further establish your worth as a resource.

Passive leads include past clients and prospects who wriggled off the hook and wound up working with someone

else. These individuals should be contacted at least every thirty days. Your perseverance will impress former

prospects and even assist you in winning some back! Regular communication will also ensure that past clients

remember you the next time they, or their associates, need the services you provide.

Marketing has never been more challenging than it is today. Make the most of the communication opportunities you have,

and you'll reap the benefits for years to come. I am looking for realtors to partner up with and will offer you the following:

Discount rates

Free Home warrantee

Free-Prequals

Marketing Fliers

Referrals

Co-Marketing

In House Underwriting

C-Perm products

Door hangers

If you would like additional marketing strategies, please call me! I have a Gift of Knowledge Interview with

marketing guru, Bill Hillestad, that I would like to share with you!

Bill Vourazeris

Senior Loan Officer

Cell: 443-618-2880

email: bvourazeris@monarchmtg.com

www.monarchmtg.com/bvourazeris

"The BEST compliment is a referral to a friend or family member, Thank you"

Homeowner Affordability and Stability Plan

Monarch mortgage — Tue, 24 Feb 2009 09:54:21 -0600

Obama Unveils Homeowner Affordability
and Stability Plan

Revised February 20, 2009

President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes.

The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is a refinancing program for homeowners with less than 20% equity in their homes, or who owe more than their home is worth. The second program attempts to lower monthly payments for homeowners at risk of losing their home. In addition, the plan includes a third initiative to support low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac.

Many of the plan's details are still being worked out and will not be announced until March 4, here is an overview of the plan's main components.

Refinancing Initiative
Under current rules, those families who own less than 20% equity in their homes have a difficult time refinancing and taking advantage of the historically low interest rates. Therefore, the refinancing initiative in the new plan provides refinancing help for homeowners with less than 20% equity in their homes or who owe more than their home is worth. This initiative is open to homeowners who have conforming loans which are guaranteed by Fannie Mae and Freddie Mac, and who owe up to 5% more than their home is worth.

According to the plan, "credit-worthy" or "responsible" homeowners can refinance their mortgage into a 30- or 15-year, fixed-rate loan based on current market rates. The refinanced loan, however, cannot include prepayment penalties or balloon payments. For many families, this low-cost refinancing may help reduce their mortgage payments by up to thousands of dollars per year.

As with the rest of the plan, details about this initiative will be released at a future date-including what, if any, credit score requirements will be included.

Stability Initiative
This initiative aims at providing help to individual families as well as entire neighborhoods by helping reduce foreclosures and stabilize home prices. It is intended to help homeowners who are struggling to afford their mortgage payments, but cannot sell their homes because prices have fallen significantly.

The goal of this initiative is simple: "reduce the amount homeowners owe per month to sustainable levels." To accomplish this, lenders are encouraged to lower homeowners' payments to 31 percent of their income by lowering their interest rate to as low as 2% or by extending the terms of the loan. In addition, lenders can also lower the principal owed by the borrower, with Treasury sharing in the costs.

Homeowners who are current on their mortgages but are struggling can still apply for this program. As such, this is one of the few programs designed to help homeowners who may face delinquency soon, but are current at the moment.

Since the focus of this initiative is on helping families and neighborhoods, investment properties do not qualify. This initiative also includes a number of additional elements and incentives that benefit homeowners and lenders alike, including:

Incentives to Help Borrowers Stay Current: To provide an extra incentive for borrowers to keep paying on time, the initiative will provide a monthly balance reduction payment that goes straight towards reducing the principal balance of the mortgage loan. As long as a borrower stays current on his or her loan, he or she can get up to $1,000 each year for five years.
Reaching Borrowers Early: To keep lenders focused on reaching borrowers who are trying their best to stay current on their mortgages, an incentive payment of $500 will be paid to servicers, and an incentive payment of $1,500 will be paid to mortgage holders, if they modify at-risk loans before the borrower falls behind.

Supporting Low Mortgage Rates
As part of the Homeowner Affordability and Stability Plan, the Treasury Department is increasing its funding commitment to Fannie Mae and Freddie Mac to ensure the strength and security of the mortgage market and to help maintain mortgage affordability. This portion of the plan will use using funds already authorized in 2008 by Congress for this purpose.

The increased funding will enable Fannie Mae and Freddie Mac to carry out ambitious efforts to ensure mortgage affordability for responsible homeowners, and provide forward-looking confidence in the mortgage market.

Again, the government plans to unveil the final details of the plan on March 4, 2009. For now, you can download a sheet of common Questions and Answers produced by the government at: www.treas.gov/initiatives/eesa/homeowner-affordability-plan/ConsumerQA.pdf

I will continue monitoring the plan as new information becomes available. If you have any questions or would like to discuss how this may specifically impact you, I'd be happy to sit down with you. Just call or email me to set up an appointment.

Bill Vourazeris

Senior Loan Officer

Cell: 443-618-2880

email: bvourazeris@monarchmtg.com

www.monarchmtg.com/bvourazeris

"The BEST compliment is a referral to a friend or family member, Thank you"

What Does The Economic Stimulus Really Mean?

Monarch mortgage — Tue, 24 Feb 2009 09:51:13 -0600

Bill Vourazeris

Monarch Mortgage

443-618-2880

I received a large number of calls this last week about what the Government's latest attempt to stimulate the economy really means to them. Thus I have highlighted below a couple of the more important items.

Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

Tax Credit Versus Tax Deduction

It's important to remember that the $8,000 tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homebuyer were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a homebuyer is liable for $4,000 in income tax, he can offset that $4,000 with half of the tax credit... and still receive a check for the remaining $4,000!

Phase-out Examples

According to the plan, the tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.

To break down what this phase-out means to homebuyers who are over those amounts, the National Association of Homebuilders (NAHB) offers the following examples:

Example 1: Assume that a married couple has a modified adjusted gross income of $160,000. The applicable phase-out to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time homebuyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.

Example 2: Assume that an individual homebuyer has a modified adjusted gross income of $88,000. The buyer's income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.

Remember, these are general examples. You should always consult your tax advisor for information relating to your specific circumstances.

Homes that Qualify

The tax credit is applicable to any home that will be used as a principle residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principle residence also qualify.

Higher Loan Amounts

More good news - there is an extension on the additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans will again be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard "jumbo" loan rates.

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs - This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings - This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing-This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance-This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future
Another thing to keep an eye on in the coming weeks is President Obama's plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That's because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

The Economic Stimulus Plan is huge, and impacts a number of industries. I've highlighted some of the major provisions that may impact you now and in the future.

As always, if you have any questions or would like to discuss how this may specifically impact you, I'd be happy to discuss this with you. Just call or email me when you have time to get more information..

Bill Vourazeris

443-618-2880

Sell Yourself to Prospects

Monarch mortgage — Tue, 30 Dec 2008 19:27:54 -0600

Bill Vourazeris 443-618-2880 Monarch mortgage

Sell Yourself to Prospects

Be a Great Listener

No matter what type of business you are in, your prospect has the option to

select from a variety of competitors within the same marketplace. You must set

yourself apart from your rivals, and it all starts by having the ability to listen

attentively to each and every new prospect. You must hone in on what their

needs are and what their idea of great customer service is.

Have you ever been interested in a product that seemed superior in every

aspect, but you just didn't like the pushy salesperson? Learn from their bad

example! Let your prospects do the talking, and pay attention to what they have

to say. Give the prospect an opportunity to reveal their hot buttons, and provide

insight regarding their likes and dislikes. Build common ground by asking them

about their hobbies and special interests. Ask them about their favorite TV

shows or sports teams.

Remember the adage coined by Mike McNight: "People don't really care howYour expertise will fall

much you know until they know how much you care."

into play only after the foundation for building a relationship has been

established.

Look for details that can spark questions. If you meet in a clients home, details will become immediately apparent. If your

meet at your office, look for class or wedding rings, even clothing, that might inspire them to disclose more information

about themselves.

Once you've struck a chord, you can present your product or service with more confidence. Instead of saying things like,

"If you choose to do business with me," try saying something along the lines of, "When you sign the papers..." This is

positive, but not overly pushy. Reiterate their hot buttons, confirming that you listened carefully to what they had to say,

and you know what their end goal is. Make it clear that you wish to help them achieve that goal.

Don't be afraid to assume the sale or the next point of contact. Consider the approach your dentist takes. He doesn't ask if

you'd like a check-up in six months; he has you schedule it while you're in his office! Make sure you and your staff provide

exemplary service every step of the way to prove your commitment to this new client.

Bill Vourazeris

443-618-2880

A Gift They Won't Forget

Monarch mortgage — Tue, 30 Dec 2008 19:26:04 -0600

Bill Vourazeris 443-618-2880 Monarch Mortgage

Crofton, MD. A Gift They Won't Forget

Want to make yourself "unforgettable" to your clients and associates? Try this novel

idea...give a book!

One great benefit of giving a book is that it won't get thrown away. Even if it doesn't

immediately get read, a book certainly won't get pitched in the trash. Be honest. Like

most people, you probably have a stack of books somewhere in your home or office

that have not yet been read, but there they sit, patiently awaiting a quiet, relaxing

hour of your time.

Books are also flattering to the recipient as an "intellectual" gift. Even if your recipient

isn't a big reader, they will be flattered that you thought that they might be! And many

people even claim that a house is not a home without a few good books at hand.

Books are cost-effective. Most great books are available for well under $20, and many are even less than $10. You can

save yourself even more money - and time - by purchasing several copies of a favorite book to have on-hand, or ordering

multiple copies online or through your local bookstore. Book aficionados might even enjoy a trip to browse through the

aisles of the local bookstore, but if a fast search and online ordering is more your speed, try www.amazon.com.

Books are also perfect for the whole family. Most parents would agree that the best way to win their hearts is to be

thoughtful of their children. Especially if the family is going through a major change such as moving to a new home, don't

forget about the kids.

Books can be easily personalized. A simple handwritten inscription inside the front cover of the book such as, "Very best

wishes to you in your new home!" or "This is a great read - hope you enjoy it as much as I did!" followed by your signature

really makes the book something personal and special.

And speaking of being personalized, if you really want to do something special, select a book on a specific topic you know

will like. If they're into remodeling or just purchased a "fixer-upper," a how-to book would be perfect. If they've recently

retired and are ready to hit the road to explore and travel, find a book about ways to plan terrific vacations. Your selection

will show how much you care, in a far deeper way than, say, a fruit basket ever could.

Amazon's website has an excellent search feature. Simply enter key words such as "new home," "gardening," or "road

trips" and you will be quickly directed to a great selection of books to browse. You can now even "thumb through" the

book online, viewing the front and back covers, table of contents and an excerpt from the book, as well as reviews.

One great idea is to purchase regional books that showcase what might be little-known facts and history of your city or

state, secret spots for a day trip, pictures of "then and now." For the young and the young-at-heart alike, try Shel

Silverstein's The Giving Tree or Dr. Suess's Oh, The Places You'll Go! Simple and understandable, these books are

moving, meaningful, and memorable. And for anyone and everyone on your list, George Clason's The Richest Man inis a home run. It is a quick, easy parable about wealth-building principles, one of the best-selling books of all

Babylon

time.

If there are some books you think I should add to my list, please don't hesitate to give me a call.

Bill Vourazeris

443-618-2880

today's rates "0" points

Monarch mortgage — Tue, 16 Dec 2008 15:16:41 -0600

Loan amounts to 417,000 w/20% Equity

15 year fixed 4.875% 0 points

20 year fixed 5.125% 0 points

30 year fixed 5.25% 0 points

FHA 30 yr Fixed 5.125% no points up to 362K

FHA 30 yr Fixed 5.75% no points up to 625,500

New Super Conforming to 625,500 30 yr fixed 5.5% 0 points

rates subject to change daily

Call 443-618-2880 Bill Vourazeris

4.875% 0 points

Monarch mortgage — Tue, 16 Dec 2008 15:01:55 -0600

Mortgage Rates Plunge After Gov't Intervention

Loan amounts to 417,000 w/20% Equity

15 year fixed 4.875% 0 points

20 year fixed 5.125% 0 points

30 year fixed 5.25% 0 points

FHA 30 yr Fixed 5.125% no points up to 362K

FHA 30 yr Fixed 5.75% no points up to 625,500

New Super Conforming to 625,500 30 yr fixed 5.5% 0 points

rates subject to change daily

Call 443-618-2880 Bill Vourazeris

Monarch Mortgage Bill Vourazeris Tips for Remodeling in Any Market

Monarch mortgage — Wed, 22 Oct 2008 10:23:44 -0500

Monarch mortgage Bill Vourazeris 443-618-2880

Crofton, MD

When the housing market's hot, it seems like just about any remodeling project is a good investment and adds value to your home. But when the market is tight, you want to be more selective about which projects you undertake, and know what you stand to gain in return.

So whether you've been thinking about boosting your home's value, its curb appeal, or just making your living space more comfortable for you and your family, the ideas below can help you cost-effectively achieve your goals in any market.

First Things First. Buyers often decide whether to look at your house before they even get out of the car. Before you spend a lot of time and money remodeling the inside, you may want to look at the outside. Washing windows, repainting trim, planting flowers, and fixing screens can make a big difference. For even more impact, you may want to consider replacing your siding or even adding a patio or deck. The added value for these bigger projects won't yield as high of a return on investment, but may help your house stand out from the rest. So, weigh your options and ask your REALTOR® for advice before starting a big project.

Make Yourself at Home. Making a cozy first impression is critical. To make sure your entryway is inviting, try adding a fresh coat of paint to your foyer or a wicker chair and table outside the door. For even more impact, replace those old light fixtures and update the floor in your entryway.

Sparkle up that Old Bathroom. Remodeling an old bathroom can make a big impact. For very little money, you can add a new faucet to your sink, a new medicine cabinet on the wall, and even new paint or wallpaper. For a little more oomph, you can update the bathtub, add a double sink, or re-tile the floor.

Even Better: Add a Second Bathroom. Perhaps no improvement makes a bigger impact on your family's comfort and your house's appeal than adding a second bathroom. The number of bathrooms is always a big sticking point for potential buyers, especially families with two or three children. Although adding a bathroom costs more than simply fixing up your old one, it also increases the value of your house more. Plus, having that second bathroom may help you sell your house faster than if it only has one...an important point to consider in any market.

Make it Hot in the Kitchen. Renovating an outdated kitchen is a great way to improve your home and its value. Plus, you don't have to splurge on extravagant items like hand-painted Italian tile or built-in espresso machines. Focus on the basics: installing new flooring, adding a backsplash and a new coat of paint, re-facing existing cabinets, installing new counter tops, and possibly installing new appliances. These go a long way to making you, or a potential buyer, feel right at home.

Remember, start small, work your way up, and always plan ahead. You don't want to get halfway into a renovation only to find that you have to update your entire electrical system, or that you forgot to apply for a permit. So, check your local zoning codes before starting any remodeling project.

Renovating your home doesn't have to mean huge and expensive changes. You can make your house more comfortable and valuable with very little time and money.

If you would like more tips on easy ways to improve your home's appeal, don't hesitate to give us a call.

Bill Vourazeris 443-618-2880

Monarch Mortgage Bill Vourazeris The Lowdown on Social Lending

Monarch mortgage — Wed, 22 Oct 2008 10:19:50 -0500

Monarch Mortgage Bill Vourazeris 443-618-2880

Crofton, MD You've probably heard of social networking sites like MySpace and Facebook, but have you heard of social lending sites? Over the past few years, several websites have sprung up that combine features of the omnipresent social networking sites, and commerce sites like eBay®. These sites allow individuals to become either a borrower from or a lender to the online community. The website collects basic financial information from would-be borrowers, as well as the intended purpose for the money. The site then posts a short profile of the borrower, so that other members of the community can choose whether or not to lend money to them.

The very first created was www.Prosper.com, which allows individuals to borrow and lend small amounts of money, for any variety of purposes. Posts include families wanting to start a small business and a father seeking to pay off his son's medical bills. You can see their pictures and read their stories.

The maximum loan amount is $25,000, and lenders can loan as little as $50 towards someone's total desired loan amount, and determine what rate they are willing to lend at based on the individual's credit standing and risk profile. Prosper encourages lenders to fund small amounts towards many individuals' loans, to help minimize risk of default. Why consider it? Although risk of default is certainly a potential - because these are generally individuals unable to borrow via more traditional methods - it is quite a learning experience, and the rate of return will be higher than via a traditional savings account.

Another similar site is www.Zopa.com, also a social lending site but with a few key differences. If a borrower's request is approved, Zopa funds it directly, raising funds by offering Certificates of Deposit (CD) to be purchased with attractive rates of return. If you purchase a CD, you are required to choose at least one borrower request to sponsor. By sponsoring a borrower you marginally reduce the interest rate earned on your CD, which in turn is used to reduce the rate that the borrower is paying. Best of all, your money and your rate of return are guaranteed and insured.

Perhaps the most intriguing of the social lending sites, www.Kiva.org is a blend of charitable giving and online lending. This site specializes in very small loans made to individuals in third-world countries. The loan requests and photos are fascinating. Who knew that a cow could be purchased for only $500, or that you could literally purchase tons of coffee and cocoa for $1,000? The downside to Kiva is that the loan is not repaid with interest, and because it is a loan and not a charitable contribution, it is not tax deductible. But the upside - helping those in developing countries create and expand their businesses, provide for their families and improve their countries' economies as a whole - well, this offers a substantial rate of return, just of a different type.

And consider getting your kids involved. Parents can use sites like these to help instill a sense of giving back, as well as a broader view of the economic world. Start with a small amount of money, and let them decide who to lend it to and why. When the loan is repaid, turn around and lend it again. It's never too early to get kids involved in the process of understanding money, lending, and the world around them as a whole.

Monarch Mortgage Bill Vourazeris 443-618-2880

Monarch Mortgage Bill Vourazeris Take the Stress Out of Moving

Monarch mortgage — Wed, 22 Oct 2008 10:07:30 -0500

Monarch Mortgage Bill Vourazeris 443-618-2880

Crofton MD,

Moving can be very exciting...but it can also be a bit of a pain as well. Besides packing and unpacking, there is a long list of details to be handled. Things like choosing a mover, connecting utilities, getting Internet and cable service, or subscribing to newspapers or magazines in a new area can be quite a chore. And if you forget to connect one of the utilities you could be stuck in your new home for several days without that much-needed service.

To ease the stress of moving and to schedule new connections for all of the utilities in one convenient location, simply go to www.whitefence.com.

Here you can quickly compare prices for movers, phone, electricity, television, or high-speed Internet. Just select the services you wish to compare. For example, phone, cable, and electric. Or, enter your address on the home page, hit search, and within seconds, a list of services and prices available in that area will appear.

Next, click on the service of your choice to view details and pricing or comparison shop by choosing three providers. Once you determine the provider, select the service plan, complete the requested information, enter the connection date, and within minutes a confirmation will be sent to you.

If you want to change your current provider, simply hit the icon for phone, cable, or Internet, select "switch provider," complete the requested information and a list of providers in the local area will appear. Choose the new provider and the service will be changed.

Additionally, on the site you can complete a change of address form, subscribe to local newspapers, and order magazine subscriptions.

Moving to a new home should be enjoyable and exciting. Using this tool can help remove a bit of the stress of moving and will also help save valuable time.

This is just one great resource to help new homeowners on the Internet. If you or anyone you know would like to make the dream of homeownership a reality, just give us a call. We will review your financial situation and get you pre-approved for the perfect home.

Monarch Mortgage Bill Vourazeris 443-618-2880

Monarch Mortgage Bill Vourazeris Are You on the Web or Stuck in the Web?

Monarch mortgage — Wed, 15 Oct 2008 22:12:58 -0500

Monarch Mortgage Bill Vourazeris

Are You on the Web or Stuck in the Web?

Why is a website important? Credibility! In greater and greater numbers, consumers are searching the Internet before making their choices. They want to make sure you are legitimate and your business is solid. The Internet allows people to find out about you on their own time and on their own terms, without having any direct communication with you. Although your company may have a website, an individual website is becoming more and more important to create credibility and to differentiate yourself.

What does it need to provide? Value! This is your opportunity to give something of significance to all those who come in contact with you. Consider offering a free report to your website visitors. With a few simple Internet searches, you can find a multitude of worthwhile topics your clients would find interesting and useful. Or you could always check with me for ideas as well. There are plenty of ways we can provide interesting and relevant content.

What should it say about you? Everything possible that is good about you, and why you are their best choice! Hopefully, you already have a great collection of testimonials. If not, start collecting them immediately. With all the choices consumers have today, many look for third-party recommendations. Remember, talking about yourself is considered boasting, but when others talk about you, it's considered a compliment. Have a section dedicated to testimonials, but strategically place them throughout the site as well.

Your website should also confirm your reputation as a successful professional. Mention accomplishments, degrees, continuing education and certifications. If you have been acknowledged through awards or articles, post links to these on your site. You worked hard for these things, so let them work for you by helping to build confidence in your abilities.

Don't forget the importance of appearing personable and approachable. Stating a few things, and even posting pictures, about your personal life can have a positive influence on those browsing your site. People have a strong need to connect before making a business decision and often, common hobbies and interests are a great way to jump-start a relationship.

How do you get people to it? Every way you can! Here are a few ideas: On your e-mail signature, have a link to your website right below your name. Include the website address on your business card. Even if you currently have 1,000 business cards, if your website isn't listed, throw them away and invest in a new set that boldly displays where you can be found on the web.

If you are providing links to other sites, see if they will return the favor. This type of strategic partnership is a great way to build a presence on the Internet. The more often your site is mentioned on the web, the higher your rankings will be on search engines. This is also a great reason to comment on blogs that interest you. Just be sure to include your website address with your comment.

Every marketing piece or correspondence you develop should list your website address. Name recognition is important, so try to have the name of your website be recognizable and easy to remember. If it isn't already taken, your name (.com) is preferable. You may also want to consider using your name with "online" after it. For example, johnsmithonline.com would work well if johnsmith.com wasn't available.

Remember, people want a connection to those helping them with large decisions in their lives. Establishing a presence on the Internet strengthens your reputation and will result in greater referrals. Technology and the Internet are critical parts of almost every business these days, so your ability to utilize these and strengthen your marketing is invaluable!

If you'd like to discuss these concepts in more detail, don't hesitate to call me.

Bill Vourazeris 443-618-2880

Action is Power: Tips for Getting Started

Monarch mortgage — Wed, 15 Oct 2008 22:08:54 -0500

Monarch Mortgage Bill Vourazeris

Crofton MD

It may be true that knowledge is power, but knowledge without action is not very powerful at all. In fact, it is very common to see talent wasted because no action is taken to produce results. The following are a few tips for taking action, which is perhaps the single biggest key to success, in business and in life.

Don't over-analyze tasks. Sure you need to think things through, but you can over-think them too. If you worry too much about getting it perfect before implementation, you can lose momentum, lose your window of opportunity, or worst of all...never do it at all.

A good strategy is to be sure your idea is ethical and legal. Then, if you think your chances of success are at least 70%, implement your idea. Successful people tend to make decisions quickly and change them slowly, where many unsuccessful people make decisions slowly and change them quickly. Be a part of the first group and implement your ideas.

Break a large project in to bite-size pieces - your action steps. If a project or plan that you know will improve your business just seems too large or overwhelming, break the plan down into manageable steps. Determine what action needs to be taken first, then go ahead and do it. After all, how do you eat an elephant? One bite at a time. And the same concept should apply for large projects.

Don't procrastinate. Easier said than done, right? But the truth is, the longer you wait to do something, the less the chance you will ever do it. Rather than putting it on your endless list of "to-dos," do it right away - right now if possible. You will impress your clients - they will love it! Don't you love it when you are the customer and you get service right away? You may even impress yourself and start getting into the habit of "doing it right now."

Believe in yourself and the power of taking action. Did you ever think of a great idea at night, only to talk yourself out of it in the morning? Worse yet, have others talked you out of it, ultimately denying you your dream? Believe in yourself...take chances...go for it. Sometimes we spend so much time thinking about the task that it becomes daunting. Don't think about it. Go ahead and get started. Just do it!

It doesn't matter how many great ideas you hear or see. It doesn't matter how many great plans you come up with for yourself, your business, or your life. What matters is how many of these ideas, plans and dreams you actually put into action and make a reality. Do you have something that's been on your to-do list for months? Do you have a great idea you've been kicking around? Do you know the next push you need to move forward in your career or your life? Grab it right now - don't wait another day. Take a step, make a decision, put your plans into motion and enjoy the rewarding feeling of having taken action!

Give me a call. Let's take action to increase our production and grow our businesses.

Bill Vourazeris 443-618-2880

Crofton, MD Training and Managing a Team Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:38:22 -0500

Crofton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Training and Managing a Team
Direct with Clear Job Descriptions

When it comes to training and managing a team, you must start out with a clear vision in directing your team to a common goal through job description and training. Creating a job description and training the individual you hire is very important to the end result. You must think through the position and its job description in great detail, even before you start interviewing people for that position. Here are some tips:

1. Define exactly what you are looking for, including the personality traits and skill sets you would like to see in that individual.

In addition, make sure you have a training schedule in place before you start conducting interviews, and share this information with the candidates. Remember, the clearer the vision of the leader, the more people will follow. How can you expect people follow your direction if your vision is cloudy?

2. Build an infrastructure with clear systems to follow.

One of the most successful companies in the world employs people who have an average IQ of approximately 100. This company is McDonald's®*. The reason McDonald's is such a successful fast-food chain is simple: They have a system in place that works. Their employees don't walk in at the beginning of their shift, wondering if they will be flipping burgers or making fries. There is no mayhem when McDonald's employees enter the workplace. There is a defined system that everyone is plugged into, and the result is a well-oiled machine with predictable results. Seek to achieve this type of system in your work environment.

3. Make sure that you have a formalized training schedule in place.

When starting off a relationship with a new employee, don't assume that they will hit the ground running without explicit instructions to follow. And even then, you may need to spend considerable time guiding them in their new position before they learn the ropes and can work autonomously. Again, having systems in place, especially training systems, will prevent you from wasting valuable time in this endeavor. You may even want to turn the training schedule over to one of your other high level employees to manage.

You should at least have a formal schedule that lasts one or two weeks, which provides the new employee with a clear and specific outline of what you expect from them. You must teach them the methodology, systems and infrastructure of your organization. It doesn't hurt to include assessments and quizzes in this process to make sure they understand that they must be accountable for what you expect them to learn.

Call me to discuss Bill Vourazeris 443-618-2880

Crofton, MD Build a Great Team Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:36:31 -0500

Crofton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Build a Great Team
You Are the Quarterback!

There comes a point in time in every business professional's career when he or she is tired of being a jack-of-all-trades and a master of none. At that point, they look to take their business to another level, either to create more income, more balance in their life, or both. When you find yourself in this situation, you must know it's time to become an employer.

The first rule of teamwork is that a team can never be completely dependent upon any one individual. The most common mistake made is the leader of the team failing to delegate activities, therefore stunting the growth of the team.

The next important point to remember is that as a leader, part of your job is to build a team of decision makers. This can only be done by observing, directing and training your associates at a very high level. As a leader you are responsible for the job security of your people. The clearer the vision of the leader, the more people will follow. When building your team, as the chief, you must lead by example. One of the great problems leaders have is failing to practice what they preach!

Each team must have a Visionary and a Manager. A single person should not hold these positions. In many cases, one person tries to fill both roles. This is the classic case of a workaholic. This is the type of person who puts in 60 or 70 hours a week and has no balance in their life. You must let go of this attitude if you wish to achieve success in building a strong team and surround yourself with supporters. Surround yourself with people whom you can trust, and whom you know will get the job done. You must engage yourself with people who will follow your lead. Your classic implementation person can attain the results that you, the visionary, are seeking to achieve in your business plan.

You are the quarterback of your team, and as such, you must have people around you who will protect you and block for you. Make sure that your working environment is enjoyable and satisfying, because this is the place where your people spend most of their waking hours. They spend more hours in the workplace than anywhere else in their lives. If this is not a satisfying, gratifying and enjoyable place, how can you expect your employees to flourish?

With this in mind, make sure you avoid the temptation of micromanaging. While delegating is a critical part of your role as the Manager or Visionary, keeping too close an eye on your employees makes them feel untrusted and hesitant. Let employees know you expect them to make some mistakes, but that you trust them to excel at their work without you hounding them or watching their every move. You'll be grateful for an employee who isn't afraid to use their own initiative, and who has confidence in themself.

Bill Vourazeris 443-618-2880

Crofton, MD Creating Team Loyalty Bill vourazeris M-Point Mortgage Services 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:34:50 -0500

Crofton, MD M-Point Mortgage Services Bill vourazeris 443-618-2880

Creating Team Loyalty
Lead By Example

Do you suffer from high turnover in the workplace? One issue that is greatly underestimated by most managers is that of employee turnover. It can literally wreck your organization and your continuity.

The longer you have a consistent team in place, the more you learn to become an extension of each other. Your productivity and efficiency skyrockets when you have a team that works well together. For this reason, it is incredibly important that you create a working environment that allows your team to flourish, a place where your employees want to be on a long-term basis. Remember, your employees spend more of their waking hours in the workplace than anywhere else. You need to strive to make it an enjoyable environment.

Lead by example. Create clarity within the job descriptions you provide. Make sure the organization's vision and Mission Statement is crystal clear and embodied in the actions of each and every member of your team.

Create loyalty by tending to special needs. It helps to show your appreciation for your team members and make sure you are building loyalty with them. For example, many employees are working parents. One of the most difficult times of the year for them is during the summer. The children are not in school, and the parent is wishing he or she didn't have to work and wants to be with his or her children. This is a great time to do something special for them.

Pay a housekeeper to handle their housecleaning responsibilities a couple of times a month. This is a way to let that valued employee know that you don't want them to be home on a Saturday morning cleaning the house when they could be out doing something exciting with their children. During the holidays you can offer to have their car washed or their houses cleaned so they can focus on their holiday gift shopping and spend time with their family. These are little things that add up to big results.

Get to know your employees' "other half." Remember, your employee's spouse can be your advocate or your enemy. This is the person your employee goes home to every night after a long day of work, and it is quite possible this is the person they will vent their frustrations to. If you have this spouse as your advocate, the spouse will defend you and remind your employee that they have a lot going for them with this job.

If you haven't taken the time to get to know your employees' significant others through occasional group functions, you are putting yourself in a position where this person, who could have been your advocate, is now someone who is suggesting the best solution is to look for another job! Keep in mind that the success of a great team is greatly dependent on your ability to keep key individuals as long as possible.

Bill Vourazeris 443-618-2880

Crofton, MD Top Qualities of Top Assistants Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:32:42 -0500

Crofton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Top Qualities of Top Assistants
What to Look for When Hiring an Assistant

Your business has grown by leaps and bounds, and to continue on that upward spiral, you realize the need for a personal assistant. Keep in mind that your new hire will become as vital as your right arm, assuming if you choose wisely. There are several key qualities to look for during the interview process.

Professional recruiters at Hudson Global Resources & Human Capital Solutions, a worldwide office staffing service, surveyed several hundred of their clients, from small companies to mid-size and large corporations. They sought to identify those traits which employers deemed most important. Nearly 50% of the respondents noted that the role of the personal assistant has changed drastically in the past five years, especially regarding the level of responsibility.

First and foremost, the personal assistant is now viewed as a "key member of the team" whose input has merit. Some of those employee's suggestions can make a boss shine if taken seriously, or at least serve as a springboard for brainstorming sessions. Thus today's informed employers realize that skilled, intelligent personal assistants add value to the business.

Personality and cultural fit. Believe it or not, employers weighted these characteristics as highly important aspects that they look for in new hires. They want someone with a positive attitude that helps build morale in the workplace; not quite a cheerleader, but someone who spreads enthusiasm rather than doom and gloom. And, they want someone suited to the work environment who can effectively take on a leadership role.

Experience. Ideally, candidates hired to support executives and senior management should possess a minimum of six to 10 years of related work experience. Of course, there are always exceptions. Aptitude and attitude both count. Though there is a need for business sense and some experience, remember that technical skills can be learned by eager and willing employees. So, never bypass a superior prospect who doesn't know some computer program such as Microsoft PowerPoint that is easy to learn. Carefully evaluate all of the individual's qualifications.

Urgency - The rule of now or never. Does the prospective hire understand the phrase, "I need it yesterday," and can he or she deliver? Deadlines must be met. Missed deadlines can result in lost business.

Initiative. A true asset to any boss is the employee who can assess a situation, think on his or her feet, and require little to no guidance when following through on a project. Executives and managers who can rely on their assistants to handle all the finite details are free to go out and grow their business with the reassurance that they left the office in capable hands.

Bill Vourazeris 443-618-2880

Denton, MD Boost Your Savings Account Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 08:56:42 -0500

Denton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Boost Your Savings Account
...Without Even Trying

Annual income aside, there's not a person among us who wouldn't welcome the idea of having more money in their savings account. This is the money we use on everything from yearly vacations to family presents. Come holiday time, wouldn't it be nice to have an extra thousand or so dollars at your disposal? Here are a few ideas that can help to make that possible. The best part is you'll hardly feel it!

Bring Your Lunch to Work - The average person spends $6 when they buy their lunch yet only $2 when they pack it themselves. That's a potential savings of $20 a week or $1,040 dollars a year.

Durable over Disposable - Using products like Handi-Wipes (semi-disposable rags) as opposed to paper towels, and a rechargeable razor rather than the disposable kind, can save you up to $200 per year.

Hold an Annual Yard Sale - You should have no problem making at least a hundred bucks. Besides, you'll get rid of all that household clutter in the process. Whatever you don't sell can be donated to charity and used as a tax write-off.

Ask for Discounts - From buying airline tickets to paying a medical bill, always ask if there's a discount to be had. The worst that can happen is you'll be told no.

Get a Library Card - As opposed to buying a book for $20 or renting a DVD for $4, get it for free. If you average 3 movie rentals a month, you'll save yourself over $140 a year.

Watch Those Utilities - Changing over to energy saving light bulbs and low flow showerheads is a great start. Also, most utility companies offer a home audit you can complete online. If not, go to http://hes.lbl.gov for a virtual inspection of your home. You may be surprised to learn how much energy (and money) you could be saving.

The good news is suggestions like these are merely a start. Only you know where your household may be wasting money. Find inefficient habits and figure out a solution. Remember, every little bit counts. The final step is when you save money on something, put the savings into an earmarked account. Then leave it alone until it's the appropriate time to use it.

Do you have any tips on boosting your savings?
If so, give me a call and tell me about them!

Bill Vourazeris 443-618-2880

Denton, MD Disaster Preparedness Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 08:54:51 -0500

Denton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Disaster Preparedness
Simple Steps Everyone Can Take

Natural disasters are a fact of life. Each area of the country has its own challenges, from hurricanes on the Atlantic and Gulf Coasts to tornados in the Plains and earthquakes in California. Regardless of where you live, it's important to have plans in place to ensure that you and your family are prepared should an emergency arise.

Begin by researching which types of events could occur in your community:

Contact local authorities to learn how community alerts are issued and the evacuation routes you will need to follow.

Inquire about emergency plans at work, school, and any other locations that family members frequent on a regular basis.

Determine how to care for your pet(s) since most temporary shelters only permit service dogs to enter. Start by visiting the American Red Cross website's Animal Safety section to learn about suggested alternatives (www.redcross.org).

Next, develop a Family Emergency Plan:

Create contact information cards for each family member.

Select a reliable out-of-state relative/friend who family members should contact
if local communications are down.

Establish home escape routes and practice them.

Learn how to shut off your utilities.

Procure proper insurance coverage and protect your vital records.

Create a short list of what to take in case of a fire.

Finally, create a Disaster Supply Kit for your home, your car, and your office. Your home kit should include:

Food - Select prepackaged, ready-to-eat food and beverage items that your family will enjoy. Try to avoid anything that's too salty in case the water supply is limited.

Water - Store one gallon of water for each family member per day, and plan on a minimum of three days.

First Aid Kit and essential medications.

Non-electric can opener, knife, and utensils.

Battery-operated radio, flashlights, batteries, pens and paper.

Be sure to review the contents of the kit every six months, and replace anything that's about to expire.

Your office and car kits should contain a pared down collection of the items mentioned above, as well as comfortable shoes. In addition, you'll want to add flares and jumper cables to your car's inventory.

If you found this information to be helpful and would like to learn more, you may want to visit one or more of the following websites: www.redcross.org, www.72hours.org, and www.fema.gov/areyouready.
Do you have any tips on this subject that you would like to share?
Please call and tell me about them!

Bill Vourazeris 443-618-2880

Denton, MD Credit Card Fine-Print Pitfalls Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 08:52:31 -0500

Denton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Credit Card Fine-Print Pitfalls

Credit card companies are great at marketing their latest features, but before you or your clients sign on the dotted line, read the fine-print carefully and look for some of the following fine-print pitfalls:

Cash Advances - The convenience of getting cash is very expensive when it comes to some credit cards. Many credit cards not only charge an upfront fee of up to 4% of the advance, they also carry higher interest rates than other charges on the same card, and have no grace period whatsoever. But here's the sneaky part: many credit card companies will require that balances for regular purchases be paid off before you begin paying off the balance of the cash-advance, which is often hit with a much higher interest rate.

Killer Fees - When it comes to fees, no one is more innovative than credit card companies. Here are just a few: account set-up fee, program participation fee, account maintenance fee, authorized user fee, credit limit increase fee, Internet participation fee. But, the trickiest credit card fee for consumers who are looking to improve their credit scores is the annual fee. Forced to keep the account open to demonstrate a history of good payments to the credit bureaus, consumers end up paying annually for that privilege.

Universal Default Clause - The universal default clause is an egregious provision that allows credit card companies to tack on an exorbitant "penalty" interest rate if a consumer is late on any of his or her bills, including items like utility bills. According to the advocacy group, Consumer Action, most default interest rates hover around 30%, but it's not uncommon to see a penalty rate of up to 35%. Some analysts have even reported rates in excess of 40%!

Binding Arbitration - Some credit companies have a binding arbitration clause. By signing this agreement, you have waived your right to a jury trial if a dispute arises between you and the company. Your case must be settled by an arbitrator. And the arbitrator is often chosen and hired by the credit card company.

Changing Terms - The terms and conditions of credit cards can be easily amended by the lender with a simple written notification. This notice usually accompanies the monthly statement. Some reports suggest that many consumers simply end up trashing the important notification, along with the usual pile of unwanted marketing material also enclosed in the envelopes, without ever reading it. Don't this happen to you or to your clients.

If you think of any other credit card features I should add to my list, please give me a call.

Bill Vourazeris 443-618-2880

Denton, MD Kids and Money Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 08:50:29 -0500

Denton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Kids and Money

Movies, lunch, new clothes, new car, college and more. Those of you with kids have dealt or will deal with these expenses. But, what is your teenager doing to cope with these expenses? If the answer is nothing, this might be a big problem. I meet more and more people every day that are unable to comprehend some of the most basic concepts of personal finance.

I think it is important to teach your child about money at a very early age. Starting at a preschool age, teach your kids the value of money and how important it is to keep their finances in order. Although long-term goals such as college or a car are far-fetched concepts for a pre-schooler to grasp, having simple goals such as saving for a new toy or trip to the zoo can teach your child to save money and spend it wisely.

Piggy banks are both teaching tools and toys and they are a perfect way for your little one to learn what money is and how to use and manage it. Sites such as www.moonjar.com and www.msgen.com offer unique alternatives to your "average" piggy bank, such as different sections for the money you save and spend.

A bank account is the perfect next step to teach your child about saving for those more expensive, long-term goals. Look for banks that have "free" youth accounts that have no minimum balance or age requirements. At most banks, a parent is responsible for the account or can open it up on the child's behalf. If your kids receive an allowance, suggest they put half of it into the savings account. Just like you, I'm sure they will be pleasantly surprised to see how much money they have in their account when that monthly statement arrives.

Having a job will help your teenager learn about money. After-school jobs will teach kids responsibility and give them experience in the so-called real world. An added bonus to having a job, they now have money in their pockets to spend on Friday night movies or that must-have pair of shoes. If you happen to have some friends with a young child, babysitting is a great way to start your teen off with their first job. A lot of places such as stores in the mall and local eateries will work around your child's school schedule. Sites like www.groovejob.com will help your teen find part-time jobs with companies in the area. Take care not to let your child get overworked. This way your teenager will be able to balance both school and work. The Department of Labor clearly defines how many hours a week and what type of work a child between the ages of 13 and 17 can do.

We all deal with bills and one day, so will your child. As a way of helping them learn to be responsible spenders, why not come up with a monthly amount with which they will pay for their expenses? You could charge them $10 for their monthly cell phone bill and $15 for their car insurance, whatever you deem to be fit. Once they start paying the bills, even if it is just to you, they'll understand that they cannot always buy anything they want, and that they need to put aside money for necessities as well.

The moment your teenager turns 18, they'll be bombarded with offers for credit cards. Many teenagers see credit cards as free money without thinking of the interest rates or payments that they will need to make. It all adds up to a heap of trouble if the debt is not paid. Teaching your child how to manage their money and credit will help them from becoming like many their age who have fallen victim to credit card debt. Remind them that any credit they apply for in the future is affected by what their credit is like now. Credit cards are heaven-sent for emergency situations. But other than that, if they don't have the money to buy the guitar or mp3 player they want now, it's probably not a good idea to buy it.

If you have any other tips on ways to help kids manage money, give me a call. Bill Vourazeris 443-618-2880

Natural disasters are a fact of life. Each area of the country has its own challenges, from hurricanes on the Atlantic and Gulf Coasts to tornados in the Plains and earthquakes in California. Regardless of where you live, it's important to have plans in place to ensure that you and your family are prepared should an emergency arise. Begin by researching which types of events could occur in your community:
Contact local authorities to learn how community alerts are issued and the evacuation routes you will need to follow. Inquire about emergency plans at work, school, and any other locations that family members frequent on a regular basis. Determine how to care for your pet(s) since most temporary shelters only permit service dogs to enter. Start by visiting the American Red Cross website's Animal Safety section to learn about suggested alternatives (www.redcross.org).

Next, develop a Family Emergency Plan:
Create contact information cards for each family member. Select a reliable out-of-state relative/friend who family members should contact if local communications are down. Establish home escape routes and practice them. Learn how to shut off your utilities. Procure proper insurance coverage and protect your vital records. Create a short list of what to take in case of a fire.

Finally, create a Disaster Supply Kit for your home, your car, and your office. Your home kit should include:
Food - Select prepackaged, ready-to-eat food and beverage items that your family will enjoy. Try to avoid anything that's too salty in case the water supply is limited. Water - Store one gallon of water for each family member per day, and plan on a minimum of three days. First Aid Kit and essential medications. Non-electric can opener, knife, and utensils. Battery-operated radio, flashlights, batteries, pens and paper. Be sure to review the contents of the kit every six months, and replace anything that's about to expire.