Jennifer's Blog

A Hypnotist Sent This To Me....Very Interesting....

Jennifer Butz (Not yet determined) — Thu, 29 Jan 2009 21:48:22 -0800

I was asked to pass it on and what better place to pass it on at but to activerainers...

If you're like me, you're fascinated with the mind. I know I have been, ever since I was small.

Here is what she believes...

Understanding how your mind works is enormously important for helping you reach your goals faster. Even more importantly; Your subconscious beliefs are likely to be the primary reason you are not achieving everything you desire in life.

So let's explore further how the mind works.

The mind is composed of the conscious and the subconscious. The conscious part of your mind is the seat of logic and reason. The subconscious mind is the seat of habits and behavior. But the subconscious is the true powerhouse of the two.

Your conscious mind (logic and reason) doesn't become fully formed until you are about seven. Beliefs are formed through the mirroring you received from your parents, family members, school, and television - all your life experiences. Not surprisingly, you grow up thinking of these beliefs as ultimate truth. Some of these beliefs then will be positive and some negative.

The mind is very much like a computer - it runs from the data that is entered. The computer doesn't question the logic or reason of the data, it just responds. Your subconscious mind does not question what has been inputted either. Your unconscious mind has been programmed since birth, and it will continue to run on these programmed beliefs until you change them.

Your unconscious mind is something like 88% of your total mental power. It is much more powerful than the logical, conscious part.

Think of your unconscious mind as big, dumb, and extremely powerful.

On the other hand, your conscious mind functions from logic and reason. Though this part is only 12% of your mental power, you can direct your thinking to help your subconscious mind create healthy and value-creating beliefs.

Once your subconscious mind is programmed, you attract experiences and people into your life in accordance with the beliefs you hold. Thoughts, being energy, vibrate at certain rates of speed, and those vibrations attract like vibrations.

You actually subconsciously draw into your experience that which you hold to be true. Remember this can be positive or negative, and can be directly in opposition to what you believe consciously!

So, by changing unwanted and limiting beliefs subconsciously you can create a much fuller life.

You can recognize what you subconsciously believe by what you think to your self over and over and what is really present in your life.

For example, if you say you want to lose weight and over a lengthy period of time never do much about it, well your subconscious beliefs are keeping you from your goal.

Some ways to change subconscious beliefs are, through affirmations, dreams, NLP and Hypnosis.

So how's business?

Jennifer Butz (Not yet determined) — Thu, 01 Jan 2009 13:38:15 -0800

Long time, no post. I was in the hospital for 38 days and pretty much have taken a break since then. I just had spleen surgery, so crossed fingers that will do the trick so I don't relapse and be in the hospital for a long time again with TTP (thrombotic thrombocytopenia purpura)-say that 10 times fast! I have been been bouncing off the walls and have ALL if not more than ALL of my energy back from before I got this monster in 2006. Anyways, I have a couple of offers on the table for some mortgage companies. One of them, I did apply for, the other 2 I did not. They have all contacted me and they all seem like great deals. One of my questions is, how is business REALLY doing out there? Besides FHA streamline refis, are you guys really closing any deals in Atlanta metro? What are the hiccups now that are going on? I think it is still home values, have home values started to climb any? I just need to kind of know what's really going on in the market before I do anything. Also, I am working a part-time job, 20-25 hours a week, and I am able to live off of that. So, if I have a closing every once in a while, maybe I could get some extra money, but I don't want to go back full-time yet if I am not going to be making any money. So, give me your thoughts and of course you will get some free points! Shouldn't be too difficult for me to ask of you guys to answer my questions! :) Have a great day! Happy New Year!!

Hello Out There...

Jennifer Butz (Not yet determined) — Fri, 13 Jun 2008 23:12:27 -0700

Long time no see. I have been cooped up in the hospital for almost 2 weeks now. I have relapsed with a rare condition called TTP (Thrombotic Thrombocytopenia Purpura). It is a rare condition where my platelets can drop lower than normal for any unknown reason. No cause and technically no cure for it. Different treatment methods work on different people. I have been thinking a lot since I have been here and really a LOT!! I am thinking about just starting all over with everything all over again in my life. I know most of you don't know what's going on in my life, but pretty much I just have to say I got hung up in the subprime/FHA mortgage mess. I am a loan officer. I am about to lose everything if I don't do something quickly. My theory is to file Chapter 7, liquidate everything, go stay with friends for a little while and start the heck all over. Say screw my boyfriend of 8 years, screw my house of 5 years, screw everything of 8 years since I have been here in Georgia. Start all over, get a fresh start, have no burdens and call it a day. Have no burdens as far as liens, judgments, credit harassment, repo and foreclosure threats. I will still have burdens in a different sense but at least most of them will be over with and I won't relapse with this monster again. I think this TTP is stress related regardless of what ANYBODY thinks of this condition (for me-that is). So, I just wanted to spread the news to you all and let you know. I am also considering changing mortgage brokers yet AGAIN to Freedom Mortgage. Freedom Mortgage has a retail side where they have no credit score requirements for FHA loans, which makes my wholesale broker life SO much easier. Then maybe my loans will stick better and my volume will pick up and maybe my money will pick up too. :) Anybody with Freedom Mortgage out there? Any opinions on the company working for them? Thanks for reading this long and boring post from me! Have a great day!

Facing Fear

Jennifer Butz (Not yet determined) — Thu, 22 May 2008 21:58:44 -0700

I was doing my daily devotion as I do everyday and came across this devotion. I understand some of you are not Christian, but the basics still apply regardless of who or what you worship.

When you are tempted to feel hopeless and trapped in fear of the future...

1. Life is full of negative things that might happen.

2. As long as I choose a path of personal growth, I will face fearful situations.

3. Acknowledging my anxieties is a positive first step.

4. An attitude of optimism will make today more enjoyable.

5. Choosing a faith-filled decision is much less frightening than living with the underlying fear that comes from feeling helpless.

These are so true and I hope you are able to apply this to your life, regardless of what or who you believe in.

FIGHT FIGHT FIGHT!!

Jennifer Butz (Not yet determined) — Thu, 22 May 2008 15:59:58 -0700

Fannie Is Poised to Scrap Policy Over Down Payments

Fannie Mae is expected to announce Friday that it is scrapping a policy requiring higher down payments on home mortgages in areas where house prices are falling.

The change comes in response to protests from vital political allies of the government-sponsored provider of funding for mortgages, including the National Association of Realtors, the National Association of Home Builders and organizations that promote affordable housing for low-income people.

Those various groups have said the policy is hurting an already feeble housing market by shutting out too many potential buyers.

The current policy, adopted in December and now due to end June 1, limits loan amounts in areas with declining home prices, including most of the densely populated parts of the country.

For instance, if a loan program normally allows people to borrow up to 100% of the estimated property value, the maximum is cut to 95% in "declining markets."

Under the new policy that is taking effect next month, Fannie will have the same maximum loan percentages across the country for people purchasing single-family homes that they intend to occupy, according to people familiar with the plan.

For borrowers approved by Fannie's automated underwriting program, the maximum generally will be 97%. For those approved by other means, the maximum will be 95%. (Fannie also has some loan programs, typically offered through state or local housing agencies or nonprofit groups, that allow certain borrowers to make no down payment.)

Fannie is expected to continue to have variable down-payment requirements on mortgages considered riskier, such as those used to buy investment or vacation homes.

Fannie and its main rival, Freddie Mac, own or guarantee the bulk of U.S. home mortgages and so set nationwide standards for lenders. Freddie also has a policy requiring higher down payments in declining markets. But Freddie earlier this month said it wouldn't require lenders to drop below 95% of the estimated value.

In a letter to the Realtors last week, Freddie also said that it is applying the policy flexibly. For instance, if appraisers can demonstrate that home prices in a given neighborhood are stable or rising even though values are falling in the wider metropolitan area, the declining-markets policy doesn't apply.

By softening the down-payment policies, Fannie and Freddie are taking more risks.

Borrowers who put just 3% to 5% down in many areas are likely to find within a year that they owe more than the homes are worth because prices have fallen, a situation known as being underwater.

In some cases, deeply underwater borrowers are choosing to walk away from their homes rather than trying to find a way to keep on paying, Patricia Cook, Freddie's chief business officer, told analysts this week.

But Fannie officials have argued that they have tightened lending standards in other ways -- for instance, insisting on higher credit scores for people who make small down payments -- to reduce default risk. Officials have also argued that underwater borrowers don't necessarily choose to walk away.

In a recent letter sent to Fannie and Freddie, the Realtors reminded the companies that the trade group in recent years helped them fend off Bush administration attempts to impose tighter regulatory constraints.

Fannie and Freddie may need the Realtors' lobbying support in the weeks ahead as Congress seeks to give final approval to long stalled legislation designed to improve regulation of the two companies.

Seven Ways To Get More Out of Your Day and Life....

Jennifer Butz (Not yet determined) — Thu, 22 May 2008 10:34:49 -0700

Boy isn't this the truth? We all need to remember and implement these things everyday...when are you going to start?

Here are seven specific things you can do at any time (including right now) to amp up your energy and attitude - without caffeine or calories!

Amp Your Attitude!

Take action first. Dale Carnegie taught, "Act enthusiastic, and we'll be enthusiastic." He was right. Actions impact thoughts. Don't believe me? Ever gotten up and drug yourself around the house trying to get your day started? How much energy do you feel on those mornings? Compare that to the mornings when you hop out of bed because you are late. In which case do you have more energy in the moment?
Assume you can. How many new ideas (or even old ideas) are immediately met with "that won't work," or "we can't do that"? Maybe you can't, and maybe it won't. But what if you started with the assumption that you could do it and that it would work? I'm not saying every idea is great or that you can do everything. But it does mean that ideas can be investigated from a perspective of can-do and hope. This approach will definitely create a better attitude - and better results.
Have some fun. Take time out of your day and have some fun! I'm not suggesting forgetting or neglecting your work - but approaching your day with the spice of fun. What happens to your attitude when you are laughing? (My point exactly.)
Look for the good. Look for the good in the day, in the situation, in other people. Look for the good in ideas, challenges and problems. Just look for the good - all around you. Once you choose to look for it - you will find it (just like you will find the bad if you look for it). And, your attitude will improve, guaranteed.
Take off your black hat. In many situations I hear, "but someone needs to be the devil's advocate" or "I'm just being realistic". In my experience the same people are always the "devil's advocate" or being "realistic". If you always wear the black hat, take it off for a while. If you work with the black hat, ask for a black hat moratorium in your office for an hour, a day or a week. Even if you work by yourself, you will amp your attitude by being an "angel's advocate" (be "optimistic" about the end result) today.
Change your environment. Maybe you can't change the paint in your surroundings, but you can change your environment. If you find yourself heading to the 'dark side', get up from your desk. Walk around the office or outside. Do anything to change your perspective and you will improve your attitude - the brief bit of exercise won't hurt either.
Smile. I've saved the simplest and easiest for last. Smile. When you smile you feel better. When you smile - and others see it - they smile too (try it) and then you feel even better. If you want to amp your attitude right now, smile (it takes less than a second).

You can do any (or all) of these things right now. They are each a choice. Some may be easier for you, so it might be smart to start there. Start there, but don't stop there - implement these ideas and make your attitude (and results) soar!

Rates Are Finally Affecting People Who Can Refinance

Jennifer Butz (Not yet determined) — Thu, 22 May 2008 09:40:23 -0700

According to the San Jose Mercury News, The lower rates have finally brought the savings to owners and would-be home buyers. I hope that means the lenders have stopped being so tight with that stuff. Glad to hear though that the jumbo mortgages are finally being helped, not enough, but thankfully they are finally being helped.

So, I guess the increased limits helped SOME parts of the country, now if they would get to the lower cost of living states and increase that limit that high!

We're waiting...

In the meantime, if you need a loan refinanced, give me a call and let me see what I can do for you!

To all of us mortgage originators, new and old... I Hope you enjoy this and take it to heart...

Jennifer Butz (Not yet determined) — Wed, 21 May 2008 13:37:03 -0700

The more business you originate, the more time you must spend on taking care of the business. There is no breaking this cycle. This leaves a minimum amount of time to spend on marketing for busy producers. According to Dave Hershman, industry author and trainer, the only real solution is to make sure that every action achieves maximum results through the use of synergy. Maximum synergy refers to the increase in effectiveness of your marketing activities through the linkage of objectives, tools, and targets. Here are seven rules to help increase your marketing effectiveness with maximum synergy marketing:

1. Every marketing activity must achieve two results. The goal is to perform activities that achieve secondary goals whenever possible. Perhaps a direct mail piece can be used to build your customer database as well as generate immediate business.
2. Anytime you are marketing by yourself, you are wasting synergy. Who would want to market with you? Those who sell a non-competitive product. Examples of partnership-oriented activities are referral relationships, cross-marketing, or joint events such as seminars and trade shows.
3. Certain targets are more effective than others. Your efforts can be spread too thin if you direct all marketing strategies to all targets. When you attend a settlement, which person at the table can be of more help as you develop your business? Choices should be made based upon potential synergy rather than chance.
4. Certain tools are more effective than others. One example is the difference between cold calling and networking. Cold calling is a tedious and exhausting practice that can lead to results one step at a time. Networking is the process of building layers upon previous efforts. Every successful networking step helps increase your overall effectiveness. With cold calling you start over again with every call.
5. Every action can be made more effective through additional doses of synergy. You can always make your marketing more effective by linking additional goals, targets, tools, and/or synergy partners. Attending a settlement with a gift for the purchaser of a home? What if you made the gift from the Realtor as well? How much extra cost or effort does this take? Yet, the results are significant.
6. If there is no response mechanism, do not waste your resources. All your marketing efforts must include an irresistible lure back to you. Writing a letter? Include an offer for a free report on how to increase your credit score.
7. If you are not offering something of value to your targets, why bother? Coupons to save money for your services do not constitute value. Your coupons are seen as self-serving tools in the eyes of your targets. To develop your value offering you must think in terms of value to your clients. This will differentiate you from the competition.

Need Your Credit Restored by a Professional?

Jennifer Butz (Not yet determined) — Wed, 21 May 2008 11:53:00 -0700

How does the credit restoration process work?

RMCN Credit Services uses a "V" Phase ProcessTM to have the inaccurate items removed from credit reports. There are Federal & State laws in place to protect the consumer from inaccurate and unverifiable credit reporting!
We make sure that these laws are being followed by implementing our "V" Phase ProcessTM :
I.                               Audit selected items with credit bureaus
II.                             Re-Investigate items on credit   bureau level and ask for method of their investigation
III.                          Validation of Debt (VOD) with creditor
IV.                         Revised Validation of Debt
V.                           Negotiate Settlement (if necessary)
The first step is to audit the credit bureaus, creditors and collection agencies using the Fair Debt Collection Practices Act, the Fair Credit Reporting Act, the Fair and Accurate Credit Transaction Act and the Health Insurance Portability and Accountability Act. These four laws have been established to protect consumers' credit reports. Creditors and credit bureaus are legally obligated to produce documented evidence within a reasonable amount of time, generally 30 days, to back the claims they make. If they cannot validate their claims, they must promptly remove any undocumented information from the consumer's credit report.

If you have any questions or would like to get started restoring your credit, please contact me ASAP!

Sincerely,

Luis Madrid
National Consultant
RMCN Credit Services, Inc.

(972) 529-0900 Office
(214) 679-8577 Mobile
(888) 469-7372 Toll Free
(972) 562-0225 Fax

l.madrid@rmcninc.com
www.RepairMyCreditNow.com

"Your Credit is Your Future" ®

I have a question for all of you...

Jennifer Butz (Not yet determined) — Tue, 20 May 2008 16:51:09 -0700

When you are trying to refer someone in another state through activerain, what do you look at on their profile? Do you look at their activity, what they have to offer, their beliefs, their testimonials? I am just curious because I am referring people who I can't help to others and I am just curious as to how you guys assess them to be referred.

Fannie Mae has announced a new policy.

Jennifer Butz (Not yet determined) — Mon, 19 May 2008 15:46:13 -0700

Although Fannie Mae has written down a bunch of losses, Fannie Mae announced a new, national policy on down payment requirements for conventional, conforming mortgages the company will purchase or guarantee. I am so glad they have because this goes to show they are willing to stick their head out and see what happens and what is grabbed, regardless of this economy!! Starting June 1, 2008, Fannie Mae will accept up to 97 percent loan-to-value ratios for conventional, conforming mortgages processed through our systems that we use to do automated underwriting (Desktop Underwriter) and 95 percent loan-to-value ratios for loans underwritten outside of Desktop Underwriter, in all geographic locations in the United States. The new national down payment policy will supersede the policy the company adopted in December 2007 that required higher down payments in markets where home prices are declining. The new national down payment requirements of 3 or 5 percent will apply to loans for purchase of single-family, primary residences. Down payment requirements will vary for other occupancy, property and transaction types. The company will implement systems and operational changes over the summer to accommodate the new national policy. I wish it were sooner, but hey, I'll take June 1st too. :) Won't we all? I hope this helps us all breathe again. 3%-5% down payment is not an issue COMPARED to 10%, 15% or 20%. You can't walk into a lease purchase home or an apartment for free, so what makes you think you can walk into a house for free?

This is going to be very helpful, but not the total solution to the problem.

Here we go again...

Jennifer Butz (Not yet determined) — Mon, 19 May 2008 14:05:44 -0700

Somebody please explain to me why the Presidential Administration is threatening to VETO the FHA short bill? If someone owes more than what their property is worth and it is an adjustable rate mortgage.....someone is going to just walk away instaed of attempting to refinance. This is the stupidest thing I have ever heard of! I would love to refinance my mortgage, but I am 10k upside down. I know people who are over 50k upside down and their mortgage payments are skyrocketing every 6 months and they can't do anything about it! SO HELP THESE PEOPLE INSTEAD OF HURT THESE PEOPLE!! You are not bailing out lenders for a mistake that the housing industry tanked as far as values. Values go up and down and you can thank the foreclosures in those areas, investors who talk the lender down (short sales), mortgage fraud, investors who are just trying to simply help someone walk away from their property. NOBODY can control circumstances! LIFE HAPPENS!! HELP US!!!! It would make mortgage brokers and retail banks lives easier too if this happened because we would be the ones doing the refinances. Of course, we all know this stuff has exceptions to the rules. I understand why you won't bail out borrowers or lenders who can't help themselves or trying to get a free ride (sort of) but I don't understand why you won't help those who TRULY need help! This reminds me of the welfare, medicaid, food stamps, public assistance programs, please don't get me started on that....

Strategies for Savvy Sellers, thought this looked useful....

Jennifer Butz (Not yet determined) — Sun, 18 May 2008 22:23:48 -0700

Home News
Strategies for Savvy Sellers

If you're thinking about putting your home on the market this summer, you'll find yourself in good company and with some heavy competition. Increased foreclosures, short sales, and growing inventories will create some scorching summer deals. With this in mind, here are few seller strategies to keep you from getting burned this summer:

Small fixes, big impact - Don't be an as-is seller. You can really stand out in a crowd just by making some minor repairs and improvements to your house and property. Call us for a free copy of our 33 Ways to Sell Your Home Fast booklet to get started.

Stage your home - Curb appeal is important, but don't forget about the inside of your home as well. Home staging experts suggest not only getting rid of any clutter or bulky furniture and other items, they also suggest getting rid of items that personalize your home as well: photos, diplomas, heirlooms, to name just a few. Here's why: you want potential buyers to imagine themselves in their new home, not your old home. And the best way to do this is to create a blank canvas, a neutral environment where their minds are free to fill the spaces as they please.

Get a professional - This is the wrong time and wrong market to go at it alone. If you're selling your home, hire a real estate agent, an experienced professional who knows how to negotiate and how to strategically market and realistically price your home. We'll gladly refer you to the real estate professionals we work with on a regular basis.

Find the first-timers - First-time home buyers typically make up about 40% of the real estate market each year. The great thing about these buyers is that they're not usually flippers or investors looking for bottom-of-the-barrel foreclosure prices. They're looking for a home. By utilizing seller concessions and creative financing to market to this large group, you'll be far more successful. Plus, you won't have to lower the price of your home to make it happen.

Some more inspiration I hope for you guys....

Jennifer Butz (Not yet determined) — Sun, 18 May 2008 10:46:36 -0700

One of my favorite quotes that came from a Successories poster was "some people dream of success while others wake up and work hard at it."

Isn't this the truth? I got to thinking about it and there are others that are out there. I read a verse in the Bible recently that says you might be a runner in a race, but there is only 1 person who wins the prize! WOW! How powerful is that? Think about it, we have to deal with buyers and sellers everyday. We have to win them somehow. Remember you are in a race of runners too, only 1 person wins the prize. I hope that person is you. This goes the same for mortgages, appraisals, home inspectors, EVERYONE in every industry that has to deal with sales! If you walk into an appliance store, find a $1000 washer/dryer, decide not to buy it for whatever reason, and you walk back in the same store, I hope you didn't go to another salesperson.... or did you? See, that's why I stress that realtors don't need to give buyers choices of mortgage brokers if they are very good. Why do you need to send it to another one, they have the same programs and the same lenders (most of them) especially in this market right now for all the lenders going out of business.

So, we are all in a race, I hope you are the prize winner!

FHA IS BAAAAAAACK AND BETTER THAN EVER (this is for those who have been hiding under a rock)

Jennifer Butz (Not yet determined) — Fri, 16 May 2008 14:49:03 -0700

Federal Housing Administration (FHA) loans have become an extremely popular choice recently for Americans looking to buy a new home, or refinance an existing home. In fact, according to the FHA, the total volume of FHA loans has reportedly tripled in the last year alone - but why?

In recent years, the FHA has made some important policy changes in order to be more competitive. These changes, along with the effects of the subprime collapse and the subsequent credit crunch on the mortgage and financial markets, have combined to make FHA a valuable option for many Americans, especially first-time home buyers, borrowers with less-than-perfect credit, and borrowers with adjustable rate mortgages.

In this article, we'll discuss four specific changes that have turned the tide for FHA loans, and why you might want to take a closer look at this valuable option when you're buying or refinancing a home.

But first, let's examine why FHA loans fell out of favor in the first place.

Since 1934, the FHA has helped some 34 million Americans become homeowners. In 1965, the FHA became part of the Department of Housing and Urban Development (HUD) and would go on to become the largest insurer of mortgages in the world.

By 2001, the FHA simply could not compete as a proliferation of exotic and subprime mortgage products and easy access to credit helped homeownership levels in America jump to record levels as the housing boom was in full swing. It wasn't until late 2006 that the FHA began reviewing and changing its policies in any meaningful way - just in time for the subprime market collapse and the turn in the real estate market.

Earlier this year, Congress passed the Stimulus Act of 2008, which did more than just provide rebate checks. It also temporarily increased FHA loan limits in many regions of the U.S. And with that, FHA loans were back in business.

But what about those other policies that made FHA loans less attractive in the past? Well, the FHA drastically changed its appraisal and fee negotiating policies, making it much more competitive, and much better for both buyers and sellers. The FHA also made other changes that allowed 1) sellers to finance all of the buyer's costs to close, 2) homeowners to take cash out up to 95% of the home's value, and 3) homeowners to consolidate a 1st and 2nd loan up to 97% of the home's value.

Because of these and other features, FHA loans in many cases are actually a little bit cheaper for the borrower. Also, because FHA loans are federally insured, they tend to trade at a higher premium in the secondary market, and consequently, lenders can often charge a lower rate.

Most importantly, FHA loans are not FICO-score driven-according to wholesale lenders, they ARE FICO score driven. Effective July 14th, they will be doing "risk based pricing" based on their credit score and this will determine their upfront mortgage insurance premium and their monthly mortgage insurance rate. Borrowers can have a lower score than other products and still qualify for a good rate. FHA loans also require as little as 3% down and, at the time that this article is being written, FHA loans allow down payment assistance programs, which allow the seller to cover the buyer's down payment and closing costs. This means borrowers, especially first-time buyers, or move-up buyers with limited funds, have a real opportunity to get into a home with little or no cash at closing. For sellers, this means you can offer concessions that make marketing your home much more attractive without having to lower the price of your home again.

In many regions of the U.S., FHA loans have not been utilized for years, so a lot of real estate agents and mortgage originators aren't familiar with this great resource. But, if you or someone you know is thinking about buying or refinancing a home, don't miss out on this temporary opportunity. Give us a call. We'll provide a free credit review and see if an FHA loan is right for your financial goals and needs.

Thought this was humorous...

Jennifer Butz (Not yet determined) — Thu, 15 May 2008 20:53:08 -0700

Should give you something to think about when you do your flyers and your MLS listings. Watch your words. There are enough articles out there on the internet that make fun and say what the words "really mean" Here are some examples:

Cozy means dollhouse (tiny)

Convenient to shopping: Next to a strip mall.

Charming: Small.

Turnkey: Just overhauled, complete with granite countertops and stainless-steel appliances.

Unique: Remodeled by someone on acid.

Handyman special: Bring boots.

Walk to Schools (insert your own word): Schools are 20 blocks away.

Motivated seller: They need to sell before they default on their mortgage.

Tall ceilings: Taller than you by a few inches!

Great Rental Property: Great for renters to tear apart easily.

Pre-foreclosure: UH OH! BETTER HURRY UP BEFORE THEY LOSE IT (or you could just wait to get a better deal).

FHA-Did You Know?

Jennifer Butz (Not yet determined) — Wed, 14 May 2008 10:38:59 -0700

Monthly MI is not required on loans with a 15 yr term and an LTV of 89.99

or less.

FHA does not have a declining markets policy

United States Citizenship is not required for eligibility (borrower must

be a lawful permanent resident alien with valid social security card and

evidence of lawful permanent residency - loans can also be made to non

permanent borrowers with proper documentation)

A spouse and or spouse/children are considered occupant owners when the

other spouse is in the US Military and stationed elsewhere

HUD will generally not insure more than 1 FHA loan at a time per borrower

(exceptions can be made - please ask for details)

Cash saved at home is an acceptable source of assets (ask for details on

how to document)

Reserves are generally not required on most transactions and HUD even

considers as little as 3 months of reserves to be a Compensating Factor

Job Stability (length of time on the job) and Good Credit are not

compensating Factors

Can you really avoid foreclosure with FHA loans?

Jennifer Butz (Not yet determined) — Tue, 13 May 2008 19:38:54 -0700

Now this sounds interesting, I saw this on a website and with all of this stuff going on...does this actually happen?

If you have an FHA insured loan, your lender may be able to work with you in order to obtain a one-time payment from the FHA insurance pool that will bring your payment schedule current. What in the world? One-time payment? Makes you wonder how much that one time payment is....doesn't it. For this option to occur, your delinquent status must be at least four months but no more than twelve months. In addition, you must be prepared to resume the payment schedule as established in the mortgage.

Your lender must file a partial claim with the FHA, which HUD will pay to the lender. You, the borrower must sign a promissory note to repay HUD. A lien is filed on the property; however the note carries no interest and is due when you pay off the mortgage or when you sell the house.

You may also engage in a ‘pre-foreclosure sale' by selling the property for less than is owed on the loan. You will qualify for this option by being at least two months delinquent on the mortgage and by selling the home in three to five months.

So then, why haven't we been doing FHA loans the whole time? How and why did we get lost with these crazy w-2 stated and self-employed stated loans? If you really don't make the income, don't buy a house (that is for those who need to go W-2 stated-which does not exist anymore). My biggest question is, how do we get those w-2 stated people OUT of those ARMs? How do we help them with the foreclosures, etc? I wish lenders and the government would step in to help those who didn't qualify in the first place for their loans and those who have ARMs and Option ARMs.

ATTORNEY GENERAL LORI SWANSON SUES SIX MORTGAGE "FORECLOSURE CONSULTANTS" FOR VIOLATIONS OF MINNESOTA CONSUMER PROTECTION LAWS

Jennifer Butz (Not yet determined) — Tue, 13 May 2008 10:56:46 -0700

I came across this and I thought this was interesting from www.mortgagefraud.org

Minnesota Attorney General Lori Swanson today filed six new lawsuits in Hennepin County District Court against foreclosure consulting companies that charged Minnesota homeowners up to $2,375 to save their homes but failed to provide promised assistance that would help them retain home ownership.

"We do not tolerate mortgage foreclosure consultants taking advantage of struggling homeowners who are already between a rock and a hard place in the worsening mortgage meltdown," Swanson said.

The lawsuits filed today are against: (1) National Foreclosure Relief, Inc., a Nevada corporation with a California business address; (2) Lewis Loss Mitigation, Inc. of Alabama, which also does business as Stop Foreclosure Center and Lewis and Associates Consulting; (3) D.R. Financial Services Corp. of California, which also does business as D.R. Financial and Superior Home Loans; (4) American Foreclosure Specialists, LLC, an Oklahoma limited liability company; (5) Mortgage Default Assistance, LLC, a Florida limited liability company; and (6) Home Assure, LLC, a Florida limited liability company that claims it has offices in the Empire State Building.

The suits allege that these companies used websites, targeted mailings, and/or the telephone to solicit homeowners by assuring that the companies could stop the foreclosure process. Consumers who contacted these companies were charged an immediate fee before any services were performed, in violation of Minnesota law. Homeowners have complained that these companies failed to deliver on promises of assistance after collecting these up-front fees.

The suits allege that these companies violated a 2004 Minnesota law barring "foreclosure consultants" from charging any compensation until after the foreclosure consultant has "fully performed each and every service the foreclosure consultant contracted to perform or represented he or she would perform." The law also requires entities that charge borrowers fees to assist in stopping, avoiding, or postponing a foreclosure, to have a written contract containing certain safeguards. All six lawsuits seek injunctive relief, restitution, civil penalties, and attorneys fees.

Real Estate Agents....

Jennifer Butz (Not yet determined) — Mon, 12 May 2008 11:16:44 -0700

Join me in my new forum. This is for people who would like tips with marketing, dealing with sellers and buyers, etc. I think all of you will enjoy it. This is also for webinar, seminar, ANY kind of requests that will help you in this market. The website is georgialending.freeforums.org Enjoy and please give me some feedback as to what you think. Although I am in Georgia please do not hesitate to join regardless of what state you are in. One thing might be working in one market whereas another market has not even heard about it yet....

Did you know....

Jennifer Butz (Not yet determined) — Mon, 12 May 2008 09:53:16 -0700

That lenders have a tough time with the theory of a HIGHER purchase price than the actual list price? I am telling you this because if FHA is the mother of all financing right now, people are going to find ways for the seller to contribute 9% (6% seller concessions toward closing costs and 3% towards down payment assistance.) SO, when you are making an offer on a home, make sure you are not offering more than the list price. The lender's theory is if it doesn't sell for the old list price, why would that change this time? Also, if they go to foreclose on it, they want to make sure it will appraise properly and will sell appropriately (which of course, we all know that they do sit on the market for a while). Just wanted to keep you informed! Have a productive week!

Short Sale VS. Foreclosure

Jennifer Butz (Not yet determined) — Sun, 11 May 2008 17:32:09 -0700

Okay, I am doing this from a loan officer's point of view and of what I have seen how it is reported to credit reports.

When someone has a short sale (sells it for less than the balance owed, that the lender accepted) it reports to the credit report as a 120 day late AUTOMATICALLY and it will say account settled for less than balance owed.

When a foreclosure is reported, it says either foreclosure, 120 days late, 150 days late or ALL of the above.

There is no difference in "saving someone's credit" when it comes to either doing a foreclosure or a short sale. Either way it's the same thing.

When a home is included in a Chapter 7 bankruptcy, it shows up as a derogatory remark (120 days automatically) and it says account included in bankruptcy.

SO, it does not matter how it is done, the lender STILL does not like short sales, foreclosures OR houses included in a Chapter 7 bankruptcy. They do like them included in a Chapter 13 (payment arrangements) and/or selling it on their own. I have seen this several times and lenders still don't like short sales, they are still viewed as a foreclosure. I am sure short sales are advantages to prevent judgments for the rest of the balance. But to me, a foreclosure is a foreclosure. If someone wants to go into foreclosure, they are better off to file Chapter 7 to PREVENT the judgment against them and for it to not come back to haunt them!

Well, Well, Guess What?....

Jennifer Butz (Not yet determined) — Thu, 08 May 2008 22:41:41 -0700

Lookie hear what the house passed,

The U.S. House of Representatives on Thursday approved legislation to create a $300 billion mortgage-insurance fund and provide billions more in homeowner aid to stabilize a housing market shaken by a wave of foreclosures and a credit crunch.

The string of bills written by Democrats, the most aggressive government effort to date to combat the nation's housing woes, would give some first-time home buyers a $7,500 tax credit and send $15 billion to communities hit hard by the mortgage crisis to help them buy and fix abandoned homes.

The mortgage-insurance fund at the heart of the initiative would give the Federal Housing Administration fresh cash and a new mandate to refinance borrowers whose homes have dropped in value since they took out their mortgage.

Under the program, lenders would get an FHA guarantee on the loan if they wrote down the principal amount, an initiative that could help up to 500,000 borrowers.

The plan to retool the FHA passed 266 to 155 and notably drew the support of 39 Republicans, even though the measure faces a White House veto threat. The homebuyer tax credit measure was approved by a margin of 322 to 94.

What do you guys think? Do you think this will help us? Do you think this will help homeowners?

I hope this mortgage-insurance fund works due to people being upside in their mortgage. I just wonder what the rates will look like and if it will still be feasible for them. There were other things that were passed, but what do you think? Do you think this will help this mortgage crisis? I think it will help in some capacities but I do not think it is the solution.

What about all these stated borrowers who have adjustable rate mortgages and are due to reset soon, especially jumbo loans?

Are you a marketing person or a salesperson?

Jennifer Butz (Not yet determined) — Thu, 08 May 2008 14:31:11 -0700

I stumbled across an interesting website for real estate agents and I thought I would share. It's called http://www.hobbsherder.com/ and here is a summary that is on their webpage showing what they do:

Hobbs/Herder is founded on a single belief: real estate is a marketing business, not a selling business. To build and sustain a thriving real estate business, it's essential that you Master Your Marketing. Boy, isn't this the truth? REGARDLESS OF WHAT BUSINES YOU ARE IN, you MUST Master Your Marketing! So go MYM!

With an integrated approach to education, systems, coaching and creative services, Hobbs/Herder provides agents and companies across North America a game plan to create a dream real estate business that is both financially rewarding as well as personally fulfilling.

Since the company was founded in 1986 by industry pioneers Don Hobbs and Greg Herder, it has continued to take proven business principles and apply leading-edge methods to the real estate industry. Don and Greg started with a vision to elevate and revolutionize real estate marketing. Over the years, they developed many strategies that have become industry standards. Innovations in direct mail, Internet strategy, advertising, and servicing systems complement the signature Hobbs/Herder personal brochures.

I have never used their services but they look great! I hope you guys can benefit. Or if you any of you have ever used them, give some feedback.

Motivation for Loan Officers and actually Real Estate Agents...something to remember....

Jennifer Butz (Not yet determined) — Thu, 08 May 2008 12:59:09 -0700

Loan Officers are always looking for the one tip that will help them close every loan. They seek out that one program that will instantly bring borrowers to their door. They will try a new script everyday because yesterday's didn't work for them.

I'm here to tell you there is no magic bullet, there is no secret pill that will make you instantly successful as a Loan Officer.

BUT, there is a method that has been tried and proven throughout the history of Loan Officers and Mortgage Professionals that has worked to get loans closed. It's a technique that has made the shampoo industry millions of dollars. It all boils down to two little words.....

Rinse, Repeat.

That's right, that's the secret to the mortgage industry. If you've closed one deal, you can close 100 deals. All you have to do is...

Rinse, Repeat.

Yes, it seems simple and some of you are probably chuckling right now, but really think about it. Doesn't it make sense that if you've already closed one deal, you can close another deal? If you've proved to yourself that you can do it, wouldn't it make sense to say you can do it again?

Don't think of closing 100 deals. Instead, think of closing 1 deal 100 times. Picture what you did to close that deal. Don't think how you did it, think of what you did, think of the flow to the transaction.

What was the flow for that one deal to close?
How did you contact that borrower?
What product did you market?
What questions were asked? What answers were given?

Get it? You've already tasted success, now just go do it again. Yes, it's easier said than done, but everything is easier said than done so don't use that as an excuse. Concentrate on the flow of your success and.....Rinse, Repeat!