real estate: Do You Warn Your Sellers?
- 04/06/14 09:06 AM
I saw a very interesting article where the question was asked "Do you warn your sellers to put their perscription medicine away before a showing or open house?". I had never really thought about that! What other advice or warnings do you give to your sellers? … (5 comments)
real estate: What do you do when you close the last transaction in your pipeline?
- 11/19/13 03:59 AM
I recently saw a facebook post by Karen Deis where someone had just closed their last loan in their pipeline and was looking at the glass half-empty. She enlisted the help of other loan officers who offered tons of suggestions and tips. She had a HUGE response with some great advice! So that had me thinking, what information or tips would you offer to a Realtor to get more business if they had just closed their last transaction in their pipleline? Not only would this help many of you out there to may be even get 1 more transaction a year … (0 comments)
real estate: It’s Not Just About the Listing Anymore: Existing Mortgage & Lien Checklist
- 11/19/13 02:52 AM
Selling a home is not just about marketing and advertising. It’s not just about staging. And, it’s not just about asking about existing mortgages and liens. Here’s a short checklist that I created to help you ask some additional questions so you know what you are dealing with when it comes time to negotiate a contract and close the sale. What’s the balance due on ALL existing mortgages? Do you have an escrow account? Are you behind on your mortgage payments? Whose name is on the title to the property? If owned by a corporation, an LLC, trust, … (0 comments)
real estate: You Want What?
- 10/02/13 03:57 AM
What was the craziest request you received from one of your buyers when they were looking for a home? … (2 comments)
real estate: Will the Government Shutdown Affect Your Clients? You Bet!
- 10/02/13 03:52 AM
I have received temporary guidance on underwriting policies and procedures that may be impacted by the federal government shutdown that occurred on September 30, 2013. This guidance assumes that the shutdown will be temporary in nature. If the government shutdown lasts for a prolonged period and/or critical services are significantly impacted, we will receive additional guidance. HOW DOES IT IMPACT THE MORTGAGE AND REAL ESTATE INDUSTRY? I'm glad you asked! There are several areas that can and will affect mortgage lender's ability to fund and close loan transactions. Thus, affecting your ability to close your transaction and any other transactions contingent upon … (0 comments)
Rule: Home on the market and purchasing new primary residence Q: What if the current home is NOT sold before purchasing primary residence? Must qualify with both monthly payments 6 months worth of monthly payments for BOTH homes as a “cushion” Can be reduced 2 months worth of monthly payments if current home is 70% LTV or below Q: What if current home is sold—but NOT closed before purchasing primary residence? Must present non-contingent sales contract for sold home Must present a lender’s valid loan approval … (1 comments)
real estate: FHA and Maternity Leave?
- 07/17/12 02:50 AM
What happens if your buyer goes on maternaty leave before you close your transaction? As of today, on FHA, a borrower’s regular, stable income may be considered as acceptable income when a maternity leave occurs. The employer must state in writing on their letterhead that the borrower’s employment and wages will not be adversely affected and will be available when the borrower returns to work. The borrower must state in writing his or her intent to return to work.
I hope this helps some of you!
… (3 comments)
real estate: Want Something Different for Your Listing?
- 06/13/12 07:48 AM
Everyone has the finance flyers and/or their own property flyer. But what about trying something different? Here's what I'm doing for my Realtor's in CA with their listings. They get not only a hard copy of the flyer but also a link that they can send out to their clients via email, social media, website, mls, put on their signs, etc. The possibilities are endless! Everyone LOVES a bargain and these flyers do just that! Check it out! Here's one I did for one agent. This is the audio portion so be sure to have your speakers on to see … (5 comments)
Important timelines that FNMA and FHLMC are requiring of their servicers to help expedite the Short Sale process. You can share this information openly with your client so you can help minimize the time and frustration of getting your short sale closed.
There are so many processes for the short sale process to work its way through the system that the agencies have now clearly defined their expectations on what is acceptable and established very clear minimum requirements for the servicers to perform their duties, … (0 comments)
real estate: New Short Sales Rules Effective June 1! But not for All?
- 04/19/12 08:27 AM
The Federal Housing Finance Agency (FHFA) which oversees Fannie Mae and Freddie Mac have designed new rules when it comes to short sales, deeds-in-lieu and deeds-for-lease in order to help consumers avoid foreclosure. There will be various stages to these rules with the first one taking effect June 1. Mortgage Servicers must review and respond to requests for short sales within 30 calendar days from receipt of a short sale offer. Provide weekly status updates to the borrower if the short sale offer is still under review after 30 calendar days Make and communicate final decisions to the borrower within 60 … (2 comments)
real estate: FSBO's - See What Happened to the Guru of forsalebyowner.com when he went to sell his home.
- 04/16/12 06:45 AM
Recently, Colby Sombrotto, founder and guru of forsalebyowner.com, decided to practice what he preaches about selling your home yourself. Very interesting outcome. Here's the link to my blog where I wrote about the crow he had to eat. Use this information to your advantage when you go on listing appointments and to go after FSBO listing! Let me know any thoughts or experiences you have had with FSBOs.
… (0 comments)
real estate: The Lender You Work With May Not Even Know This. But You Better!
- 04/04/12 08:25 AM
Recently HUD has decided to make quite a few changes to their FHA program. Everyone is aware of the increases in the Mortgage Insurance Premiums. As if that wasn't enough, they are also placing restrictions on non-purchasing spouses in community property states that could prevent your buyer from qualifying. What I'm about to tell you was not specifically outlined in their mortgagee letter. Therefore, a lot of loan officers may not be aware of this until an underwriter declines their loan in the middle of the process. Here's what HUD said when asked about non-purchasing spouses outstanding collections and or … (2 comments)
real estate: Funny Real Estate Descriptions and What They REALLY Mean?
- 03/13/12 06:45 AM
As a change of pace with all of the changes going on, I thought I'd bring some levity to my blog today. I found these descriptions/phrases on various real estate websites and thought I'd bring them together here. Be sure to let me know if you have one of your own or know of one you can add to this list.
When it says: This is what it REALLY means:
MUCH POTENTIAL Steer clear unless you have a lot of money!
UNIQUE CITY HOME Used to be … (6 comments)
real estate: I Just Have to Brag! So Bear With Me.
- 02/06/12 09:15 AM
I am just truly amazed at how great our Diamond Express Product is working! My processor turned in my Diamond Lane loan this morning before 9:00 a.m. By 1:30 today I received my approval! Same day as promised! The only bad part is that we can't go to docs because we'd be out of compliance. This product is available on most of our loan products from conventional, FHA, and VA! This was a Homepath product. Amazing!!!!!!! Stop waiting around for weeks! If you're a Realtor, you need us! If you're a licensed MLO and are looking for a great place to … (0 comments)
real estate: Breaking News!!! Here's the latest buzz!!!
- 01/10/12 10:36 AM
Ok like the commercial says "That was so 47 seconds ago" . But for those of you that do not have your nose to your social media or email networks, another mortgage company is leaving the business. Metlife has decided to call it quits except for their Reverse Mortgage Department. If you have someone who has been pre-qualified with MetLife now is the time to have them prequalified with another lender to ensure a timely closing. If you are currently in a closing situation you should be ok but it surely could be a very bumpy closing and I'm thinking the … (2 comments)
real estate: Is Your Lender Taking Too Long? Here's a conquer the universe strategy!
- 01/02/12 06:52 AM
Are you wanting to buy or sell a home and the lender you're using is taking too long or not returning your phone calls? I know some people are afraid to use mortgage bankers and brokers vs the "large banks". But keep in mind, that the mortgage bankers and brokers had to take 20 hours of education, pass a background and credit check, fingerprints, pass a minimum of a state and federal test, and annual 8 hours of continuing education and yearly license renewal. The 'BIG banks" do not have to do this! Watch my brief video to show you how this … (0 comments)
real estate: Here's a Conquer the Universe Strategy for You?
- 01/02/12 06:33 AM
So 2011 is nothing but a distant memory right? Not if you're transactions that were supposed to close last year are still waiting to close. This is a very short video that will explain how our new product will help you to not only close your deals on time but surely it will also make your sellers and buyers happy as well! I waited to fully push this product until I tested it out to find out if it was hype or fact. I'm here to tell you it's FACT! The best part of it is that it works on all of … (0 comments)
real estate: I hope you enjoy these...
- 12/23/11 11:36 AM
Please click here to enjoy this quick little video greeting to hopefully make you smile :) Oh, and I thought you could all enjoy this as well...
We have just received notice from the North Pole that all those in the lending industry will not be receiving presents this year. Apparently Santa IS UPSET!!! He is currently working on a refinance that was set to close and the lender added conditions… As he stated to us, He has had it up to his red cherry nose with conditions. · The ELVES have refused to return phone calls to verify employment … (0 comments)
I saw a very interesting article where the question was asked "Do you warn your sellers to put their perscription medicine away before a showing or open house?". I had never really thought about that! What other advice or warnings do you give to your sellers?
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