adirondack mortgage: Should I worry about Defamation of Character? - 07/03/08 03:54 AM
I worked for a now defunct mortgage company named SMC Mortgage Company in Glens Falls, NY. I was not happy with my experience there after leaving. Actually, I began becoming unhappy a while before I left... I did not like the common consensus that my former colleagues seemed hold... They gave each other high fives when they were able to really "sell" someone on a bad loan! It was like they took pride in in pulling the wool over people's eyes... Like that made them "good"!
The mortgages that I wrote were frowned upon by management for not have a high enough … (6 comments)

adirondack mortgage: 680 for 100%, FHA finally has a true purpose... - 03/04/08 07:18 AM
And what I mean by that is that FHA is not some kind of a spectacular loan program. It is very useful in certain situations, but most often the best way to go is conventional if you qualify. Conventional offers the best rates and terms avaiable which is why it is reserved for those with good credit and income qualifications.
I get people coming to me all the time who have been sold by someone who later denied them on an FHA program. Sometimes the person coming to me is qualified for conventional financing, and I ask them "why FHA". I usually … (6 comments)

adirondack mortgage: Do business with me and get a 3 day 2 night getaway for free! - 02/27/08 02:35 AM
Maybe, I haven't decided yet. I am working on a transaction with a high profile agent in the Plattsburgh, NY area; Andre LaFountain. Andre is a smart cat, he is heavily imbedded in real estate but he also has a few things producing additional income for himself on the side.
Andre has approached me about a travel agency opportunity. I am not sure of the details or of the pay structure. I do know that the business model is MLM. I'm not sure that is enough to disqualify it from being a legitimate opportunity. Of course, I have something else in … (7 comments)

adirondack mortgage: No Closing Cost++ Home Refinance Loan! - 02/21/08 06:40 AM
"No Closing Cost++ Home Refinance Loan.Call Today to Combine Mortgage and Debt."
I found this enticing headline today on a one of countrywides websites. This cracks me up because I have been talking about this for some time. It makes me wonder though, if it is presented this way is the consumer happy when they get to the table?
I give quotes to people everyday and I always hear "hmm... your closing costs seem high" and it no longer blows me away when I hear this statement. My closing costs are very low compared to what I have seen out there and I … (8 comments)

adirondack mortgage: John Murphy - 02/21/08 02:38 AM
Just as I was writing my last post about the fact that referral business is far superior to internet leads I got a call from John Murphy with a referral. He said that the person whom he sent to me left a message for me. I am not sure which phone she called. I don't recall receiving a call from her on my office phone and I am guilty of not checking my cell phone messages as much as I should.
John gave me her phone number and I just gave her a call. She was inquiring for her son and daughter in … (7 comments)

adirondack mortgage: Referral Ping Pong - 02/21/08 02:20 AM
I received a referral from Kathy Bennett of Re/Max North Country a few days ago. I am working on the loan file now and it is a go. A couple of days later I had the opportunity to send someone her way. Then I had another opportunity to recomend her and I did. This morning I received a call from someone whom Kathy had referred to me. If you need property in or around Plattsburgh, NY go to Kathy Bennett. She is the best in the area!
John Murphy of North Country Realty is a great guy to work with. He is never pushy and always … (2 comments)

adirondack mortgage: Keep At It! - 02/21/08 01:39 AM
I feel that my efforts are really beginning to pay off. That being said I have had a very rough month this month. Forever I have been seeing the media paint a devastating picture of the housing crisis and credit crunch. I saw all of the media, but I felt inwardly that it did not matter as it does not affect me. I know that certain markets are suffering because of some poor investment choices that investors in those regions made.
The Power Option ARM created a lot of buying power for individuals who were banking on the continuation of a Fluffed … (0 comments)

adirondack mortgage: How FSBO's can make you a fortune! - 02/13/08 05:07 AM
 
 I never really got the point of marketing to FSBO's until recently. I know that it makes great sense for Realtors and real estate sales people to market to FSBO's, but why would a mortgage pro do such a thing?
After hours of brainstorming last night I think that I have come up with a good reason to market the FSBO arena.
For me the properties are an integral part of my buyer lead generation efforts. As Chris Bates says "use the homes to do more loans". I am finding this to be true; the more buyer prospects that I am able to … (9 comments)

adirondack mortgage: 5 points 5 times. - 02/06/08 04:28 AM
You may have read my blog post asking about whether or not letter's work. I posted that blog here on AR to get some feedback with regard to a marketing campaign that I built in order to tap into more of a referral based business as opposed to a lead sifting business.
I got a lot of great feedback and I really refined my approach. I have been getting referrals pretty steadily for the past several months and now I am back to the drawing board. Referral business is great! If I can do the loan then it is most often a … (8 comments)

adirondack mortgage: Yun Says That People Are Waiting For Lower Home Prices and Lower Interest Rates... The Time Is Now! Buy, Refi, Take advantage of the squeeze! - 01/31/08 01:19 AM
The bond markets are poised to rally this morning. Jobless claims for last week rose 69,000 to 375,000; analyst were expecting a reading somewhere near 315,000. Consumer spending slowed in December to the lowest levels that we've seen since 2006. MBIA bond insurer lost 2.3 billion dollars in write downs and 3.5 billion total loss for the fourth quarter. Credit rating agencies are threatining to lower the cerdit rating of several bond insurers and the stock market is tumbling.
This of course is not good news for the economy overall, but it will drive mortgage rates very low and to some extent … (0 comments)

adirondack mortgage: YoYo Economics - 01/30/08 08:20 AM
I know that we all have different roles when it comes to transferring real estate from one person to another. Some of us deal with people while some of us deal strictly with paperwork. Some of us do it all while still others do work exclusively over the phone.
No matter what your role in this diverse transaction, we are all affected by what is taking place with our nations economy. I know that Real estate sales people do not watch financial reports and constantly changing economic data. It's not as important as knowing each individual client's situation in order to find … (0 comments)

adirondack mortgage: WHAT MAKES ME DIFFERENT - 01/28/08 08:43 AM
 
We all strive to bring something to the table that is not already there. We all have a similar skill set, policies, and procedures but there are some things that each of us can do to bring a certain unique feel to our own personal business approach.
Since my companies investment and my own personal investment in leads I feel like consumers generally see us as "all the same". So I recently began thinking about what makes me different.
For one I don't just quote rates. When a person gets me on the phone and starts asking me what the rate "is" that … (0 comments)

adirondack mortgage: Associations... Can we be friends? - 01/18/08 01:58 AM
I love AR and the community. You guys aer great, and I love the platform. Whether it be through referrals or advice AR has helped me improve my business and my practices. I have gotten many great and inspiring ideas from many of you!
My thanks go out to all of you!
What I would like to know though is how to get more associations. I am just not sure how the whole asscoiation thing works. I currently have 11 associates but I have associated myself with many more people than that.
I understand that there may be some sort of action required from intended … (0 comments)

adirondack mortgage: Swimming with the sharks... - 01/17/08 01:10 AM
Rates are low. low, low!
Rates are low, as low as they were in 2004 when I began my career. Refinance applications are up and so we (company and I) decided to start purchasing leads. Wow, what a shift in gear working Internet leads is from working referrals.
Sleazy sales tactics...
Is what I am up against. The thing with Internet leads is that most people shopping on the Internet have filled several forms with several "Comparison Shops" like Lowermybills.com and Lendingtree.com.
I am not really enjoying the quality of these leads as I have noticed that while the sneaky lender's out there low-ball … (3 comments)

adirondack mortgage: What's time blocking again?... - 01/14/08 04:35 PM
I have begun something new at work and it is working great. I have begun writing my goals for the week and posting them up on the wall by my desk. This week I had 7 immediate goals and as of today I have accomplished 5 of them. We all have our daily tasks and it is easy to forget very important things that we need to get done.
Committment the goals... Read More
 
 
… (7 comments)

adirondack mortgage: The State of Plattsburgh. - 01/14/08 04:31 PM
The State of the City of Plattsburgh:
I've really come to fall in love with the real estate that I have come across in the Adirondacks. I live in Plattsburgh, NY near the tip of the Adirondacks. I am from the area originally, I moved away for a while to get some experience behind me. The only real draw-back to Plattsburgh is that the demographic is... Read More
 
This of course came as a shock to my colleagues and I as we are putting up near refi-boom level numbers. Still I guess I can see the evidence of it as more and more … (4 comments)

adirondack mortgage: Get your marketing! - 01/14/08 04:20 PM
I'm Psyched! I just got another Real Estate Firm on board to do a portion of their marketing with me. I guess that it's not a hard sale to get a Realtor to work with me on this project because I am giving hard hitting marketing away for free. Free and I know first hand that many people, especially business people run the other way when they hear that... Read More
This is only the tip of the ice-burgh though. I am working on some marketing that I will be rolling out soon that will be highly beneficial my my Realtor Partner's. … (0 comments)

adirondack mortgage: BAO was right on time... - 01/14/08 04:03 PM
Regarding their recent decision to purchase Countrywide, America's largest home lender.
There has been much speculation on the topic for good reason. Countywide is a very large financial insitution. If it were to collapse it would be a large chunk of the economy down with it. More than 7% of Cw's Loans are in default.
Personally, I am satisfied with... Read More
 
I know that the subject has been beaten to death, but it should be. This is one of those things that affects us all! Please let me know your opinion on the subject.
… (0 comments)

adirondack mortgage: 4954 Route 374, Merrill NY 12955 - 01/14/08 03:56 PM
I frequent areas of interest to me in order to write reviews and provide information on some of the properties that My Realtor Partners have listed in the area. My mother owns two properties; one in Churubusco, NY and her primary in Mountain View, NY.  
I recently visited my mother at her camp in Churubusco, NY and since I was so close to one of my... Read More
 
And when I got back I wrote the above post. You may be looking for a wonderful retreat and this may just be it, or you may know someone who will absolutely love it!
… (0 comments)

adirondack mortgage: Am I taking New Clients?... Do You Have a Referral?... -=Read This First=- - 01/14/08 03:51 PM
There is a lot that can be said about a good referral. Personally I think that business by way of referral is the only way to go. If my car is broken down I ask my friends who they take their car to. This gives me a good idea of whether or not I am dealing with a reputable professional.
This is true with just about anything that you can think of and... Read More
 
So while you don't officially need a referral, I highly recomend getting a referral before shopping and or do your homework!
… (0 comments)