loan officer: Are You Climbing The Ladder Of Success? - 06/15/07 06:20 AM
Are you climbing the ladder of success or are you a few rungs short? Is making it to the top your goal or just a passing thought? How are you measuring your success? Is the next rung just out of your grasp?
The ladder is comprised of several rungs. Mastering the lower level … (6 comments)
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loan officer: When Mortgage Rates Snowball Higher And It Becomes An Avalanche - 06/09/07 07:35 AM
Thursday was the single worst day for mortgage rates in more than four years.
Because so few homeowners understand how mortgage rates are determined, a day like Thursday may have little context.
So, let's try to put it in perspective.
If somebody told you that the stock market crashed, you'd understand. A … (1 comments)
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loan officer: Planning Your Mortgage and Seeking Pre−Approval - 06/05/07 06:33 AM
Choosing the right lender is a key element to managing your mortgage. As a mortgage planner, my goal is not just to provide you with a loan, but also to help select the one most beneficial to you and your long-term goals, and then, help you manage that debt over time. … (0 comments)
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loan officer: Alert! Your Name is Being Sold - Take Action Now! - 06/03/07 08:50 AM
Your name is worth everything to you...it's your identity, it's YOU. Here's breaking news you need to know...and you need to let all your family and friends know right away as well.
Few people realize that each time their credit is checked, the information provided to the credit bureaus (Equifax, TransUnion, … (0 comments)
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loan officer: One Method To Reduce The Amount Of Sub-Prime ARM Foreclosures - 06/02/07 01:59 PM
The above graph comes from The Wall Street Journal and it illustrates something that we all intrinsically know: Sub-Prime ARMs foreclose at a faster pace than all other home loan types.
When adjustable rate mortgages reach the end of their "fixed rate" period, some homeowners are unprepared for the upward-adjusting mortgage payments and … (3 comments)
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loan officer: Dealing with Credit Challenges - 06/02/07 06:00 AM
Typically, a person with a bad credit score is in this position because they lack structure in their life. There are, of course, cases where unplanned health or employment complications are to blame, but for the most part, these are individuals who lack the discipline to pay their bills on time … (1 comments)
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loan officer: S.M.A.R.T. Approach to Achieving Your Goals - 06/01/07 07:43 AM
Specific Define your eventual success. Create vivid, detailed, clear written descriptions, so you know exactly where you are headed. Do you want to own waterfront property or acreage in a location of your choice? Do you want your real estate to generate income? If so, how much? Continually, keep your goals … (3 comments)
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loan officer: Ten Questions You Must Ask Any Realtor Before You List - 05/31/07 06:26 AM
Most of us sell only a few homes in our lifetime. With such limited experience in real estate, how do you maximize the profits from your home sale? Many home sellers make the critical mistake of thinking all Realtorsâ are the same. They list with the first agent who comes along. Does … (1 comments)
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loan officer: Training and Managing a Team - 05/31/07 06:12 AM
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 … (1 comments)
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loan officer: Business Owner or Self−Employed? - 05/30/07 06:55 AM
Two fantastic sources for entrepreneurs are The E-Myth Revisited by Michael Gerber and Rich Dad's Cashflow Quadrant by Robert Kiyosaki. Gerber's book is accurately sub-titled: Why Most Small Businesses Don't Work and What to Do About It. He examines the small business and the entrepreneur, and his results are intuitive but … (1 comments)
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loan officer: “WARNING! Don’t Put Your Home on the Market Until You’ve Read This Post... Avoid 11 Mistakes That Could Cost You Hundreds... Even Thousands of Dollars!” - 05/30/07 06:39 AM
Selling your home can be an exhausting experience. Last minute walk-throughs, inconvenient calls, price adjustments and the possibility of being stuck with two mortgages are real concerns. If you are not completely prepared, you could end up losing hundreds even thousands of dollars in profit.
The difference between a profitable smooth transaction … (0 comments)
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loan officer: The "Kick 'Em While They're Down" Rule - 05/29/07 06:28 AM
In his weekly syndicated column, Kenneth Harney pulled back the curtain on a nasty piece of IRS tax code that can penalize homeowners with foreclosures and short sales.
Because the IRS treats canceled debt as ordinary income, homeowners that "work something out" with their lender may inadvertently add tens of thousands of … (12 comments)
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loan officer: Secrets Lenders Don’t Want You To Know: Read This 11 Point Report Before You Sign Anything - 05/29/07 06:16 AM
The right or wrong decision when signing your home mortgage can mean thousands of dollars difference in interest paid. There are very important considerations to evaluate before you commit to a 15 or 30 year note. For many of us, our mortgage payment is the most important financial decision we'll ever … (2 comments)
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loan officer: Freedom Isn't Free- Memorial Day Poem - 05/28/07 09:54 AM
I watched the flag pass by one day, It fluttered in the breeze. A young soldier saluted it, And then he stood at ease... I looked at him in uniform A warrior who looked so proud, With hair cut square and eyes alert He'd stand out in any crowd. I thought how … (4 comments)
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loan officer: Appreciating What You Have - 05/28/07 08:27 AM
In the age of "I want, I need, and I must have", I think it's important to have the ability to see things on a larger scale. The gift of having perspective and to see our lives in comparison with the rest of the people who live in our world. It really does seem the … (3 comments)
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loan officer: 7 Habits Of Success - 05/27/07 01:36 PM
1. Be proactive: If you want something to happen, figure out how, then make it happen.
2. Begin with the end in mind: The best way to predict the future is to create it.
3. Make decisions and act in accordance with them: Your current actions should always be taking you … (6 comments)
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loan officer: Actions Speak Louder Than Words - 05/27/07 08:56 AM
Practicing scripts is a wonderful way to perfect what you say to clients. It's also important to study how you look when you deliver your speech. Body language can account for up to 90% of the impression you make in a conversation, and it can enhance or undermine the point you're … (4 comments)
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loan officer: Reverse Mortgages: Financing the Golden Years - 05/27/07 08:11 AM
Until recently, seniors 62 years of age and older have not had the best choices when it came to getting cash from their homes. Traditional home loans only offered the option of either selling one's house or borrowing against its equity.
With reverse mortgages coming on the scene, seniors now have … (0 comments)
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loan officer: The Need for Training Increases in a Sales−Driven Market - 05/25/07 06:32 AM
Mike Ferry has seen many changes in market movement throughout his extensive career as a trainer to the real estate industry. In a recent interview, Ferry laid down some important ground rules to develop the mind set and productivity needed to be successful in today's market.
"Real estate professionals will begin to … (1 comments)
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loan officer: Taxes When You Sell Your Home - 05/25/07 06:13 AM
IF YOU'RE A HOMEOWNER, then you're probably aware of the incredibly generous tax break available when you sell your home. Play your cards right and you can lock in a profit of up to $250,000 ($500,000 when you file jointly) and owe nothing to the IRS.
This great deal was enacted … (0 comments)
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loan officer: The Race for Equity - 05/24/07 05:22 AM
Those who take property ownership seriously often look for options to build equity at a faster pace. An aggressive approach is to select a 15-Year loan program over a 30-Year mortgage.
A 15-Year loan works well for homebuyers budgeting time and money, those who are possibly looking forward to a debt-free retirement, … (0 comments)
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loan officer: A Cluttered Desk is the Sign of a Cluttered Mind - 05/23/07 05:37 AM
As the saying goes, "A cluttered desk is the sign of a cluttered mind." How can prospects or clients have any faith in your ability to work on their behalf, if they see a desk overflowing with paper? Or, in this computer age, if they visit your office and watch you … (9 comments)
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loan officer: Buying A Primary Home - 05/22/07 07:47 AM
There are many pitfalls you can avoid when you are in the market to buy a new home. Here are just a few tips and strategies to help you prepare for success:
Know your credit score! You may be able to get a better mortgage rate and more favorable loan terms by … (1 comments)
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loan officer: Asking for Referrals - 05/22/07 07:32 AM
Too often, people are frightened of asking for referrals. Is it the fear of rejection, or are they concerned about annoying their prized clients? If you're providing truly exemplary service, you shouldn't be ashamed to ask for the opportunity to provide that same service to other people your clients know! In … (4 comments)
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loan officer: Saving Money On Taxes - 05/21/07 08:04 AM
There are many mortgage and real estate equity planning strategies that can really help you save money on taxes whether you are buying, refinancing or selling a primary home, vacation home or investment property.
The Caylor Mortgage Planning Team brings a team approach to your situation by working with qualified CPAs, … (0 comments)
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loan officer: Type A vs Type B: Buyers versus Browsers - 05/21/07 08:00 AM
Type A: A tendency towards tenseness, impatience, and aggressiveness.
Type B: A tendency towards a relaxed manner, patience, and friendliness.
Both of these personality types have their merits, and both tendencies exist in all of us to some degree. But when it comes to homebuyers, Type As are the ones you want to … (2 comments)
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loan officer: Twenty Terms You Must Know and Understand Before You Sign Off On Your Mortgage! - 05/19/07 07:40 AM
Buying a home is a major achievement in most everyone's life. Pride of ownership, tax breaks, equity and the ability to increase your wealth and net worth are just a few of the many benefits you'll enjoy with your new home. Your home purchase may also be one of the largest … (0 comments)
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loan officer: Giving to Receive - 05/19/07 06:17 AM
Information marketing infuses free information about a product or service along with the regular sales pitch. Unlike the decoder ring in a box of Cracker Jacks, info-marketing provides the free prize before any purchase has taken place. It appeals to consumers much more, because they don't feel as though they are … (2 comments)
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loan officer: RESPA - 05/18/07 05:50 AM
In many states, Real Estate licenses are granted without close examination of an applicant's knowledge of RESPA guidelines. As a result, many Real Estate Agents go into business unaware that certain practices are prohibited via Federal statutes enacted by the US Department of Housing and Urban Development.
RESPA stands for the Real … (0 comments)
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loan officer: Are You Creating The Proper Image? - 05/17/07 06:11 AM
Before your next meeting with a prospective client or potential referral source, take a long look in the mirror and ask yourself, "If I was a prospect, would I want to do business with this person?"
The image you create, and the way people perceive you, has a tremendous impact on your … (5 comments)
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loan officer: Congress Makes PMI Tax Deductible: Millions of Borrowers Will Benefit - 05/13/07 09:57 AM
The federal government's Private Mortgage Insurance legislation is great news for the Real Estate Industry! Enacted on January 1st, 2007, the bill makes Private Mortgage Insurance tax deductible for potential borrowers whose personal adjusted gross income is less than $100,000. For millions of home buyers, the bill creates an amazing opportunity … (0 comments)
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loan officer: The Perfect Purchase Transaction!! - 05/12/07 03:10 PM
Have you ever wondered what the Perfect Purchase Transaction would look like? Close your eyes and dream about it for a minute... Few inbound phone calls. Your cell phone never rings. Clients leave so ecstatic with your service that they hand you three names of people they know who are ready … (1 comments)
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loan officer: THE HITS JUST KEEP ON COMIN’! - 05/12/07 09:33 AM
But we're not talking about the latest top 40 hit by Mariah Carey!!
It's the FED. The Federal Reserve Board has hiked rates seventeen consecutive times over the past two plus years...and while they've paused in their hiking cycle for the time being, the hits they've given to rates have added up … (0 comments)
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loan officer: Customer Satisfaction vs. Customer Elation - 05/11/07 07:01 AM
Striving for customer satisfaction is like going for the bronze. You won't be remembered as the best unless you really exceed the customer's expectations. Take the phrase "customer satisfaction" out of your vocabulary, and instead strive for "customer elation." Your customers must be so impressed that they are actually excited to … (2 comments)
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loan officer: The Key To College Planning - 05/11/07 06:44 AM
In today's world, a college education is more important than ever. Many of the jobs that do not require a college degree have been outsourced to workers in other countries, or replaced by a computer or machine.
In addition, according to Fed Chairman Ben Bernanke, the income disparity between college grads … (0 comments)
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loan officer: The Art of Database Management- Part IV - 05/10/07 06:55 AM
It's important not to assume to know what is relevant to your clients. You must ask intelligent questions, run reports on this information, and then proactively meet your customers' relevant needs. This completes our analysis of Bill Gates' quote regarding managing information, and brings us full circle.
We've talked about gathering information. … (0 comments)
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loan officer: The Art of Database Management- Part III - 05/10/07 06:49 AM
The second part of Bill Gates' famous quote from Business at the Speed of Thought deals with the subject of reporting and managing the information you've gathered. The unfortunate reality is that many people have databases full of useful information, but they simply don't use the information effectively. Many people think … (1 comments)
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loan officer: The Art of Database Management- Part II - 05/10/07 06:40 AM
Most of us are sales people when you get right down to it. Our job is to sell our services - and ourselves - as we strive to add more clients to our existing book of business. The unfortunate fact is that most of us are in such a hurry to … (1 comments)
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loan officer: Home Improvements Turn Average Homes into Dreams Come True - 05/10/07 05:58 AM
If you're thinking about taking out a home improvement loan, there are several options to consider. First and foremost, your mortgage professional needs to know why you want a home improvement loan. Here are some factors to take into consideration.•· How long have you been in the home?•· Will the improvements increase … (0 comments)
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loan officer: The Subprime Crisis: Is Your Home at Risk? - 05/09/07 07:18 PM
It's all over the news. Subprime mortgage companies are in the midst of a true crisis! According to The New York Times, over two dozen lenders have already closed their doors for good. In fact, more than half of the top 25 mortgage companies from 2006 have either reported serious losses, been sold … (0 comments)
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loan officer: Protecting Your Credit During Divorce - 05/09/07 08:03 AM
When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn't have to change is the credit status you've worked so hard to achieve.
Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay bills, the maxing … (0 comments)
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loan officer: Lead Follow−Up Campaigns- Never Give Up On a Lead! - 05/09/07 07:57 AM
You might wonder, "When is a lead no longer a lead?" A lead is always a lead until the person tells you to stop calling. The key to success in sales is professional persistence. Take time to earn the loyalty of prospects by showing them that you add more value to … (3 comments)
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loan officer: Is a 30-Year Fixed Mortgage the Best Type of Mortgage? - 05/08/07 08:25 AM
With interest rates still near 40-year lows, is a 30- year, fixed-rate mortgage the right choice? While the mass media's response is usually yes, my reply is NO.
Today's market is much different than the market and lifestyle of the previous generation. That generation typically had one job, one pension, one … (0 comments)
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loan officer: The Mortgage Planning Process - 05/07/07 06:55 AM
The mortgage planning process is different than the typical "shopping for a mortgage" experience. The mortgage planning relationship is not about you:
Wasting your valuable time trying to save $25/month by comparing rates, fees and closing costs among different lenders. Wasting your valuable time trying to baby-sit the mortgage company you've … (0 comments)
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loan officer: Are You Using Your Voicemail Effectively? - 05/07/07 06:42 AM
Have you ever stopped to consider how many times a new prospect gets your voicemail before they have a chance to speak directly with you? Your voicemail greeting provides an excellent opportunity to create a first impression that can have an enormous impact on whether people decide to use your services. … (10 comments)
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loan officer: Annual Percentage Rate- What is the Real Cost of Financing? - 04/18/07 06:05 AM
Annual Percentage Rate (APR) is a tool that consumers can use as a starting point to compare loan programs. However, it's important to keep in mind that APR is not a perfect system, and not all lenders calculate APR in the same way. While the Federal Truth-in-Lending Act does require any … (0 comments)
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loan officer: Building A Referral Network- How to Reach Out to Those Around You - 04/17/07 11:09 PM
Everyone has heard the expression, "It's not what you know but who you know." Of course this isn't entirely true, but having a successful referral network can lead to a significant increase in satisfied clients with minimal effort on your part.
Have you ever gone into a large home improvement store, … (3 comments)
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loan officer: A Lesson From A Gazelle and Lion - 04/17/07 08:42 AM
Every day in Africa a gazelle wakes up. It knows that it must run faster than the fastest lion, or it will be killed.
Every morning a lion wakes up. It knows that it must outrun the slowest gazelle, or it will starve to death.
It doesn't matter whether you are a lion … (3 comments)
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loan officer: Winners vs Losers - 04/16/07 07:17 AM
Winners vs Losers
A winner is always part of the answer. A loser is always part of the problem.
A winner always has a plan. A loser always has an excuse.
A winner says: "Let me do it for you."A loser says: "That is not my job."
A winner sees an answer for any … (4 comments)
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loan officer: Renters Have Much to Gain by Pursuing Home Ownership - 04/11/07 09:28 PM
Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage planners will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial … (0 comments)
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loan officer: Refinance Your Mortgage for Rate and Payment Reductions - 04/06/07 06:54 AM
One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be accomplished with a no-points no-fees loan program, which essentially means at … (0 comments)
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loan officer: Getting the Best Interest Rate on Your Home Loan? - 04/04/07 03:27 AM
Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan. The borrower's income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. It's important … (0 comments)
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loan officer: Should You Leverage Your Home or Pay It Down Rapidly? - 04/03/07 08:33 AM
There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and pre-paying principal? Let's examine the pros and cons … (0 comments)
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loan officer: Home Buyers Face Decisions That Affect Their Long-Term Financial Picture - 04/02/07 05:09 AM
Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Literally hundreds of loan programs are available, and it is important to find the one that best fits your … (0 comments)
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loan officer: What To Ask When Shopping For A Mortgage - 04/01/07 09:37 AM
Research is an important component of any large transaction. I'm sure you'll agree that a home mortgage is one of, if not the largest financial investment a person will make in their lifetime. I'm sure you'll also agree that given the importance of this investment you would want an industry professional … (6 comments)
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