Chriss's Blog

Mortgage Life Insurance?

Chriss Thomas (Outreach Property Solutions) — Mon, 24 Sep 2007 12:25:50 -0500

I have a friend of mine who just recently purchased a home receiving all this information on Mortgage Life Insurance. She asked me about it and I had the craziest look on my face LOL. I thought to myself OK Mortgage life insurance is too expensive to start and become more costly as time goes on because premiums generally stay level, but the policy face amount (or death benefit) is reduced on the same schedule as the debt is reducing. So, in short, the cost per thousand of coverage starts out much too high (relative to other, benchmark products), and only gets worse over time.

I thought to myself now if she does die and the mortgage insurance pays off her home and debts what about leaving her children or husband with anything I mean there are other debts one can incur and this will not help them with those debts.

Now I know my carpet may not go wall to wall all the time but I told her she would be better off looking for life insurance with a broker and determine how much she will need I mean think about it if you buy a policy that covers your home and debts wouldn't that sound more sensible than just paying off your home? I dunno just something that makes you go hmmmm...

She stated that she gets mail all the time asking her to buy mortgage life insurance and the positive reasons to buy. Are there really a lot of positive reasons to buy?

How can you really tell if a potential home buyer is really ready to buy?

Chriss Thomas (Outreach Property Solutions) — Wed, 19 Sep 2007 11:03:36 -0500

You get that phone call...Hi I was interested in the home posted on your website when can I see the home?...A phrase all realtor's love to hear! A possible sale of a home....you tell them ok what would be a good time for you? You set an appointment and meet the potential buyer at the home. You do a walk through and show all the perks of the home inside and out. They are smiling and loving it. Oh honey this is great...another phrase agents love to hear.....You are thinking to yourself yes they want it....Is it ready to move in? Yes of course..... Well we were just looking we are in a lease until December.....:) The phrase an agent doesn't want to hear :(

Now you think to yourself..

1. Did I ask the right questions when on the phone with the client?

2. Did they understand my questions?

3. Was there a miss communication?

But the real question is when is it good for a client to begin looking for a home? You go to look at homes everyday and the question on the questionnaire states how soon are you looking to move? So how many people really answer this question and understand what it means, I mean sounds pretty basic to me right?

Again education is the key not only to educate the home buyer but the Realtor as well. You have got to know how to weed out the home buyers of now and the home buyers of December. Again these are just the thoughts that I think make people go Hmmmmm.

Things that make you go hummmmmm part 2

Chriss Thomas (Outreach Property Solutions) — Tue, 11 Sep 2007 11:28:35 -0500

Hello everyone,

As I stated in my earlier hummmm diet is the key to getting the body you want and dieting is also a great way to get the home you want.

Dieting insthe key to home ownership. You have good carbs and bad carbs!

Good Carbs

No new credit card debt

No new accounts open

No new revolving accounts

No bouncing checks

Saving account

Bad Carbs

Credit cards not paid on time

Accounts delinquent

Rent not paid on time

Bank accounts overdrawn

Savings account non existent

Following the good carb diet and the average person have taken their first steps to home ownership!

Notice anything with the carbs?

Things that make you go hummm.

Chriss Thomas (Outreach Property Solutions) — Fri, 07 Sep 2007 09:12:55 -0500

Hello,

I am new here and have enjoyed reading some of the bogs I was so inspired I decided to writre my own.

Have you ever had a pair of jeans or a dress that you have looked at for years and thought to yourself, "If I could just loose 5 or 10 pounds I could buy that?" Of course we all have and yes a lot of us have even thought of the easy way out..."I wonder how much is liposuction?" LOL and just think if you could get that plastic surgery you would fit into the jeans or dress of your dreams. But the easy way out is not always the best way out after all who wants to diet, exercise or count points or calories.

But guess what, your life is just like the scenario I mentioned above think about this. You see the house of your dreams, this would be the pair of jeans or dress, but your credit and your finances will not allow you to own that house you love. Guess what? you can but just like dieting and exercising you will have to budget and get your credit to the point where you are able to buy that home. I am sure we all can relate, credit and finance are the keys to home ownership...so think of home ownership like the scenario above.

If you want to loose weight you work at it, if you want to buy that house you work at it. Stay tuned to part 2 of things that make you go hummmmm? I will have answers to the great old question...how do or where do I begin?