RESPA WOW - 02/25/10 11:38 PM
Tonight a loan officer friend who works at a bank told me how the bank gets around some of the new RESPA issues. He says that if the bank makes a mistake (which with this law is about 110% possible) then they later find a way to turn the loan down so that they are not in violation and don't have to pay the fee.
I am so anti-government right now. I hear loan officers saying that sometimes they will spend 3-4 hours on the forms to make sure they are correct. Of course, when they are correct, they are nonsense. … (4 comments)

Increase Your Sales...... - 02/25/10 06:23 PM
If you are in the San Jose area on March 13th then take the opportunity to attend the Self Marketing meeting Saturday morning. You can market yourself and meet potential clients. What I like best about it is that I am the speaker that day so I know that there will be value ! I will give 5 tips and I mean good tips about how to increase sales immediately plus I will throw in a couple of magic tricks. Come on by !
http://www.youtube.com/watch?v=bxbJYQNpKQc&feature=player_embedded
 
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Once Upon a Time.... - 02/25/10 06:16 PM
Years ago a person called me early morning and said that he needed a second mortgage on a rental property FAST. I took the loan application, called title and called the appraiser. The title company got me the preliminary title report before noon. I signed the loan by 2 PM - before the appraisal was completed, the loan to value was very low. We funded the loan by 4 PM the same day.
Took the application in the morning and funded the loan the same day. There was no recission because it was a rental property. Can you imagine doing that … (1 comments)

Open Townhouse in Palo Alto this weekend Sat and Sun - 02/24/10 01:18 PM
The open house is 444 San Antonio Rd  C8  Pal Alto, Ca 1-4 Sat and Sun
http://tours.tourfactory.com/tours/tour.asp?t=583588  
Also if you are commissioned sales I am speaking in San Jose on March 13th.
http://www.youtube.com/watch?v=bxbJYQNpKQc&feature=player_embedded
… (0 comments)

One Goal - 02/24/10 10:52 AM
A fellow sits behind me who does not even know we have a bad economy. He sits approximately 4 feet from me and lives in a different world than most people I know. He has been marred a few years and now has two little boys; 3 and less than a year.
He is an EXCELLENT producer because he continues to focus on what he wants and does not waste time with what he does not want. He wants to spend time with his family and be a good family man and he wants to create business. He has time for … (1 comments)

Open House in Palo Alto Feb 27-28 - 02/22/10 04:54 PM
Open House Saturday 1-4 and Sunday 1-4 
444 San Antonio Rd  8C  Palo Alto,
Price Reduced to $753,000
http://www.youtube.com/watch?v=9wk-YaHmP6k     Hot TV Opening
 
http://tours.tourfactory.com/tours/tour.asp?t=583588    Virtural Tour of Open House
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Best Affirmation on the back of a truck - 02/20/10 08:14 PM
Today I saw what I think is a wonderful affirmation. Actually there were three affirmations on the truck but they were all together.
People are friendly. Business is Great. Life is wonderful.
Wow...repeat that several hundred times and my guess is those wonderful things will come true. Like magic? Here is one of my YouTube postings from our TV opening. You can go to You Tube and then click mortgagemagicca or mortgagemagicca2 for more magical openings. http://www.youtube.com/watch?v=LPGrhSRKM44
 
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Life is for Living - 02/19/10 11:33 AM
This blog is about an amazing person. Some languages do not have the words "he" or "she"; Finnish and I think some of the Indonesian languages. So with all respect I am calling this person It because some of this is personal and I don't want to release anything that would identify the person.
It has had a very rough past couple of years financially. It is a senior citizen although It does not look it. It was laid off of It's job 18 months ago and It's home went into foreclosure. Recently the loan was approved for modification and It … (1 comments)

Laughter is Love out Loud - 02/18/10 10:23 AM
Almost twenty years ago I wrote a newspaper article (no blogs in those days) and the opening line was, "The most common sound around the Mortgage Magic office is the sound of laughter".
Twenty years later all of those Mortgage Magic employees and loan officers are still here. Perhaps, through the good and the bad, the ups and downs, the sorrows and the joys, - perhaps it is laughter that has kept us together. Captain and Tenelle sang a song called Love will keep us together.  Maybe laughter keeps us together. Perhaps laughter really is love out loud.
My favorite quote … (0 comments)

NACA helps client - 02/17/10 06:19 PM
I had a client who was turned down for a modification and he finally got the modification approved using the help of NACA. Check them out at www.naca.com . The client got a 40 year term with a 4.8% rate - the first 5 years of the loan are reduced payments.
When he called the bank (Wells Fargo) they commented that NACA had no pull but he was previously turned down. So, perhaps they do have pull. The client received a denial letter and called the bank and they said, "Oh no, the modification is approved". He asked about the denial … (0 comments)

Cash for Dumps - 02/17/10 01:27 PM
OK..we had Cash for Clunkers and that program worked pretty well. One of the problems in real estate is that we actually have more homes, more living units than we have families or individuals to fill those homes. Many homes are old and in disrepair. Many have environmental issues, asbestos, etc. Some are just plain ugly. So why not have a Cash for Dumps  program. When governments do eminent domain they pay off the mortgage balance and provide additional cash for the persons being displaced. So, it could work Cash for Dumps.  Got a neighbor who has an eye sore house? … (1 comments)

Townhome in Palo Alto Ca - 02/16/10 07:44 PM
Spacious Townhome in popular Rosewalk complex. High ceiling, great floor plan. Master Suite includes private deck and 2 large closets. Master Bath completely remodeled with granite shower and tub. Not a short sale ! Call me to view-still occupied by owner. Call me at (408) 209-6773.
View the property here http://tours.tourfactory.com/tours/tour.asp?t=583588
 
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You Tube can get us all famous - 02/13/10 11:55 PM
You Tube can get us all famous which could earn us more clients and more income. Of course, we still must know our product and give the out of this world service. But the Internet is becoming the way to market and "get out there" more and more. I am speaking next month at a self marketing meeting in San Jose and today the leader of the group, Kent Peltz spent no more than 10 minutes video taping me and then posting this clip on You Tube. I am learning You Tube more and more but this is so amazing and … (5 comments)

Give 10% of your time or talent - 02/11/10 01:04 PM
Churches are always encouraging parishioners to give 10% - some Churches even require a 10% donation. Personally I think this is wonderful because church groups do so much good and studies have shown that those who give generally become more successful and happier.
I have not had money to give for a couple of years but I give. Like most at Active Rain I am involved in the community and give thur social services. My big program is the Salvation Army. But today I have decided to give 10% or more to my clients in free services.
So many of my … (0 comments)

I am the Greatest - 02/10/10 10:52 PM
Muhammad Ali shouted "I am the greatest" and he became (to me and millions) the greatest. Joe Girard who is listed in the Guinness World Book of Records said that everyday he would shout "I am the greatest" over and over until he was completely excited. And he became the greatest.
I will shout I am the greatest until I am so excited that nothing can stop me. I have done loans on windmills, ocean going vessels, pac-man games, race horses, airplanes, commercial and residential real estate. In 2007 I did a residential loan of $8,500,000. I have done loans to celebrities and … (1 comments)

Shoud I raise my processing fee to cover the cost of the new RESPA? - 02/10/10 04:26 PM
As far as I know the HVCC has done nothing to improve the industry and costs the client at least $100 more per transaction. The new RESPA law has been a nightmare in our office. Bank 1 will want the forms completed one way and Bank 2 another. Some banks have additional forms that they want filled out. The banks we are brokering to disagree on how to complete these forms. Our loan officers are spending several additional hours just to make sure that they fill these forms properly.
I am a critic of even the basic loan application. Look at the … (1 comments)

One MOre Time- Indy Mac and Fed Deal - 02/09/10 10:30 PM
Everybody should watch this. I usally let things slide but this really puts a finger on the problem. I knew something was wrong and could not figure out why a bank would want a foreclosure or short sale and not modify..this explains so much of the problem. If you have to, watch it two times to grasp what is happening. http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1460041 … (1 comments)

Indy Mac Video- if true this answers a lot of questions - 02/08/10 05:02 PM
This is an amazing video that is making the rounds. I don't know if the facts and math are correct or not but I have received this from three different sources this afternoon. If it is true then this explains a lot of things. I have told people for a long time that there is something going on behind the scenes that we don't know about. Again- if this is true- this answers the questions that I have had.
No need to be negative but you should know this...
Watch Video
… (2 comments)

ABM Always Be Marketing - 02/03/10 03:00 PM
My motto is  Always BE Marketing.A venue of marketing that has been very successful for me is the Community TV show. These are available in most communities across the U.S. and the price for the show is reasonable. Last year I funded 116 loans which was pretty good given the economy. Of those loans 9 came directly from the TV show and the income from those loans was 6 times the cost of the show. Market every way you can and I recommend you check out the Community Access TV in your area.
Here is an opening clip from our show. … (0 comments)

NOW is the time to go for it - 02/03/10 12:24 PM
Now is the time to go for it..........I believe in Individuals and that Individuals can be successful even in a bad economy........and unfortunately we do have more of a bad economy coming....rates will increase which will drive buyers out of the market...the tax credit for first time home buyers will go away...unemployment will probably rise a tad and if not, certainly will not decrease...  
 There is pressure on state and local government budgets. 49 of the 50 states have balanced budget amendments which means that they will have  reduce services or increase taxes. States don't get to print money the way … (0 comments)

Save $95,000 on a $417,000 mortgage - 02/02/10 12:50 PM
This is such good advice. I have written about it before and it is so simple for those who can afford it and discipline themselves to do it. Fits better than any thing Susie Orman will tell you ! The concept is simple; divide your mortgage payment by 12 and add that number (1/12th) to your mortgage payment. That way you are paying an extra payment each year but are doing so in an increment that is manageable. For the right client this is a wonderway to save a ton of money.
http://www.youtube.com/watch?v=LGsp5myGmS0
 
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Are you old enough to remember "kids starving in China"? - 02/02/10 12:43 PM
When I was a kid I actually heard this phrase, "eat your dinner, kids are starving in China." There is a Christmas movie called A Christmas Story and in that movie there is a scene that replays this event that was in many of our lives.
This morning on the front page of the San Jose Mercury News was a picture of perhaps 30 Chinese factory workers marching in a military parade fashion. The caption read, "Workers at the Trina Solar plant go through military-style training to develop discipline and a strong work ethic."
What does this mean? American workers, better … (1 comments)

White House drops $23,000,000 in value over past year - 02/02/10 11:36 AM
Last year I looked up the White House on Zillow and it showed a value of over $300,000,000. Today the value has dropped to $287,771,000. The White House is more than an acre in square footage at 55,000 and has 16 bedrooms and 35 bath rooms. It was built in 1792.
If you could list the White House and earn 3% you would earn more than $7,500,000. I say $7,500,000 because probably you would not get more than $250,000,000 because of age, location, etc. Can you imagine holding an open house? The helicopters could land on the back lawn but you … (1 comments)

REAL Free Credit Reports - 02/01/10 12:07 PM
The Free Credit advertisements on TV come across to me as misleading. The only authorized source to get a free credit report under federal law is www.annualcreditreport.com. This is an excellent service (informational) that you can offer your clients whether you are a Realtor or Lender or even an insurance agent. This is good advice. The web site has FAQ and instructs people how to order via phone, mail or the internet.
The Freecreditreport.com does post the proper information about free reports on their web site.:
When you order your free report here, you will begin your free trial membership in … (3 comments)