M Point Mortgage Services Bill Vourazeris

Spring is in Bloom

Monarch mortgage — Sat, 11 Apr 2009 12:47:10 -0500

Hope springs eternal in this amazing season of change. If you or anyone you know is feeling financially inspired, we're here to help your investments blossom. Spring into action. Give us a call today.

Bill Vourazeris
SR Loan Officer
Monarch Mortgage
Phone: 443-618-2880
Fax:
BillVourazeris@comcast.net

avoid sky-high rates.

Monarch mortgage — Sat, 11 Apr 2009 12:02:14 -0500

Bill Vourazeris
SR Loan Officer
Monarch Mortgage
Phone: 443-618-2880
BillVourazeris@comcast.net

April 2009


	March 2009
	February 2009
	January 2009
	December 2008
	November 2008
	October 2008

Here's how you can stay in their good graces and avoid sky-high rates.

Debra Tanner was thrilled when, in early 2008, her longtime credit-card issuer cut her interest rate nearly in half, from 16% to 9%. But a few months later, the thrill was gone. In August, Tanner discovered that the card issuer, HSBC Bank, had jacked up her rate to 30%. In fact, the rate hike had gone into effect several billing cycles earlier without Tanner noticing.

When she called to protest, a customer-service representative told Tanner that her rate was being raised because she had been two days late with a payment. The bank refused even to consider restoring her lower rate until at least November.

Tanner, who owns a gift-basket business in Clearwater, Florida, considers herself a responsible borrower. The issuer has steadily increased her credit limit (to $16,000 currently) since she got the card in 1993. "I don't see anything in my record that justifies raising my rate so high," she says. After Kiplinger's contacted HSBC, the bank agreed to lower her rate to prime plus five percentage points -- about 10% recently -- and to give her credit for the additional interest charges she had paid since March.

What Tanner learned the hard way is that lenders are not only skittish about extending new credit but are also clamping down on existing customers. In July 2008, a survey of senior loan officers by the Federal Reserve Board found that during the preceding three months, 65% of U.S. banks had tightened their credit-card lending standards by raising required credit scores or lowering existing credit limits. That was up from the April survey, in which 30% of banks reported tightening their standards.

A year ago, a credit score of 720 had lenders lining up for your business; today you need a score of 740 or higher to get the best rates, says Ben Woolsey, director of marketing and consumer research at CreditCards.com. Bank of America, for example, says it's looking for higher FICO scores, although it wouldn't specify a number.

And a higher score alone might not be enough to keep lenders happy. They're also scrutinizing your credit-card use more frequently, looking at where you live and what you buy. HSBC, for example, says it has tightened its credit criteria and will "continuously monitor changing market and economic conditions."

In addition, says Woolsey, lenders are less willing to cut you slack for minor, one-time infractions. And you're less likely to receive solicitations for new credit or to get automatic increases in your credit line. "The definition of what makes a good customer has gotten a little more stringent," says John Ulzheimer, president of consumer education for Credit.com.

Risk factors. In some cases, credit-card companies are using geography as a risk factor, especially if you live in an area that's experienced declining home prices or if you hold a subprime mortgage. For instance, Discover is cutting back on marketing programs in "rising-risk areas" and limiting automatic credit-line increases. Discover didn't cite specific risk areas, but states such as California, Florida and Nevada have been hit hard by home foreclosures.

Your work or business could also be a factor. American Express says it's reducing credit lines for cardholders at greatest risk - including small businesses in the construction, home-building and mortgage industries.

Some card issuers are also paying closer attention to your spending habits. In June, the Federal Trade Commission sued CompuCredit Corp. for failing to disclose to cardholders that the company would monitor certain payments - to bars, massage parlors and marriage counselors, for example - and could reduce their credit lines as a result. There's nothing wrong with that kind of snooping, as long as card issuers tell customers that they use such data to evaluate risk. CompuCredit says the FTC's allegations about its marketing practices are "untrue and without merit."

What to do. Despite the increased scrutiny, you can still satisfy card issuers' requirements.

Pay your bills on time and keep your balances as low as possible - preferably to 25% or less of your credit limit.
Use each of your cards at least once every quarter. That will prevent a lender from closing an account that it deems inactive, says Ulzheimer.
Look elsewhere if your card issuer cracks down. If you have a stellar record, you still have leverage with other lenders, says Scott Bilker, founder of DebtSmart.com.
Don't close old accounts. That increases the ratio of your outstanding balance to your available credit, which can hurt your credit score.
Ask for help if you're in a tight spot. Card issuers are sometimes willing to waive late fees, reduce interest rates or establish payment plans before you become delinquent, especially if you've been a good customer in the past.

You can subscribe online.

Bill Vourazeris
Monarch Mortgage
600 Jefferson Plaza #205
Rockville, MD 20852

Problems With Your Mortgage? There May be a Short Way Out.

Monarch mortgage — Fri, 27 Feb 2009 18:02:25 -0600

Subscribe to YOU Magazine and other timely market alerts from Bill Vourazeris.

Bill Vourazeris
SR Loan Officer
Monarch Mortgage
Phone: 443-618-2880
BillVourazeris@comcast.net

February 2009


	January 2009
	December 2008
	November 2008
	October 2008
	September 2008
	August 2008

Problems With Your Mortgage?
There May be a Short Way Out

With unemployment figures reaching a 25-year high, the toll of the declining economy continues to impact hundreds of thousands of families each month, especially homeowners struggling with their mortgage. According to RealtyTrac, 303,410 foreclosure notices were served on properties in the month of December alone. This followed the 2,854,396 foreclosure filings throughout all of 2008.

For homeowners facing foreclosure, options do exist that can prevent the trauma of losing their home or facing long-term financial loss. YOU Magazine has addressed these options in previous issues. So, this month we'll focus instead on short sales, an alternative to foreclosure for struggling homeowners who do not want to stay in their homes but would also like to avoid the years of potential financial damage that a foreclosure could cause on their credit rating. If you or someone you know are looking for a "short" way out of a mortgage, keep reading and find out if a short sale is a feasible option.

Don't Be Short-Sighted
Before we dive into what a short sale is and how it can benefit some struggling homeowners, it's important to understand that you're not alone, and that just because you're struggling now doesn't mean you won't be able to recover in the near future. In today's tough economy, millions of Americans are facing challenging situations seriously affecting their finances right now that they can, and will, eventually overcome, including lay-offs, divorce, the death of a spouse, or even major losses in the stock market or their retirement investments.

That's why, before choosing to attempt a short sale, it's important to ask yourself if staying in your home is an option you'd like to explore, because there are opportunities, including a loan modification that may be a better path for some struggling homeowners to pursue. A loan modification would allow the homeowner, in many instances, to renegotiate the terms of their existing mortgage(s) to a more affordable monthly payment(s). This can be accomplished in a number of ways that bring about both temporary and permanent solutions but ultimately allow the homeowner to keep their home.

If you think that a change in your mortgage terms, like a lower rate or lower monthly payments, might help you make it through this rough patch, it's important to communicate with your lender, even if you're several months behind in your payments. Many lenders have reported that in over 50% of the cases where a homeowner is delinquent on his or her mortgage, they have been unable to reach the owner to discuss any options. Picking up the phone and placing a call is always in your best interest. More importantly, opening lines of communication with family members, in many cases, could help lighten the emotional burden that often comes along with these challenges.

When Staying is Not a Viable Option
If, however, you think a loan modification would not be appropriate for your individual needs, one solution to avoiding foreclosure could be a short sale. A short sale is an agreement from the lender(s) to allow the homeowner to sell the property for less than what is owed on the mortgage(s). An example would be an agreement to allow a sale of the home to take place for $175,000 when $300,000 is actually owed on the property.

For a lender to consider a short sale, there are a number of factors that the lender will take into consideration before an approval can be secured, including:

Current hardship, which can include a change of income due to job loss, loss of hours or salary reduction, illness, death of a wage earner, or a change in marital status.
The property is "upside down," which means the house is worth less in today's market than what is owed.

It's important to note that, unlike a loan modification, a homeowner does not have to be delinquent to be considered for a short sale. However, a hardship should be demonstrated showing that the homeowner would not be able to remain current on the mortgage in the future due to mounting financial obligations.

Why would a lender agree to sell your home at a loss? Well, in many cases, the foreclosure process results in a loss of up to 40% or more of the original mortgage balance for the lender. When borrowers and lenders work together on a short sale or loan modification, however, these losses can be reduced by roughly half, in many cases. For example, a foreclosure on a $300,000 home could cost the lender up to $120,000 or more in losses, where they might only lose $60,000 by working with the borrower. Add to that the record losses incurred on other foreclosures, and it's clear why lenders, in many cases, prefer to negotiate a solution.

Credit Benefit
Working with a lender to negotiate a short sale instead of a foreclosure can also be more beneficial to your credit as well, especially if you want to secure another mortgage in the near future when your finances are back on track. According to Fannie Mae, one of the largest mortgage insurers in the country, a foreclosure on your credit record will likely mean it will be between 3 and 5 years before you're able to secure a new mortgage. The typical timeframe to buy a new home with a short sale on your record, however, is only two years.

A short sale also has a lesser impact to your FICO score compared to a foreclosure, which is very important for obtaining future credit from everything including automobiles and consumer credit to getting reconnected with local utilities and cell phones services. Your credit score can even affect certain employment opportunities as well.

Start the Process
The first step of a short sale is to contact your lender and seek their assistance.

The second step is to enlist the help of an experienced real estate agent. An agent who is skilled at handling the negotiation process will not only minimize negotiation time, he or she will also help in limiting the time and costs of marketing the property.

Tony Sena, a real estate agent with North American Realty in Las Vegas, Nevada agrees. Sena, who is currently closing 10-15 short sale transactions a month says, "The single greatest reason for a distressed property not selling is selecting the wrong agent."

When selecting an agent, don't be afraid to ask questions about their experience. Sena says to look at the current inventory of listings the agent represents and ask:

How many of the properties are currently short sale properties?
Does the agent have testimonial letters from short sale sellers?
If an agent says they have sold a number of short sale properties, how many of the transactions were listings sold, not just where they had the buyer.

The third step is to price the house properly, according to the market. While many buyers would love to "steal" your property for the lowest price possible, remember that the lender is already going to incur a loss and they are not interested in losing more than they have to. Sena suggests initially pricing the property at the current value and then reducing the asking price every two weeks until it attracts buyers. Then, once you have an offer, the negotiations on the final price can begin with the lender.

The last step is to be prepared for challenges in both the short sale process and in the market place. Remember, you have a lot of competition out there and getting a property sold can be tough, especially in a buyer's market. However, choosing the right agent and setting the right price can assist you in not only selling it more quickly but also in minimizing the friction of having to deal with the lender directly.

Be aware that, in some cases, not all, a lender will agree to a certain price, but only if the seller agrees to accept a promissory note for some amount of the deficiency - that means money that you will be responsible for paying back. In some cases, Sena has seen lenders ask that sellers pay up to $20,000. However, while early last year the interest rate for these notes was in the range of 4% to 8%, lately Sena has seen that lenders have also been extending offers with 0% and terms of repayment up to ten years.

Get Moving
Once you recognize that you are having problems keeping up with your mortgage payment, take action quickly. Decide whether you want to stay in the home or not. Then contact your lender to find out the best solution to your needs. If you'd like to learn more about short sales or other foreclosure alternatives, a great place to start is by contacting the professional who provided you with this copy of YOU Magazine.

You are receiving a complimentary subscription to YOU Magazine as a result of your ongoing business relationship with Bill Vourazeris. While beneficial to a wide audience, this information is also commercial in nature and it may contain advertising materials.

UNSUBSCRIBE to YOU Magazine. In the unlikely event you decide that you would not like to receive your complimentary subscription to YOU Magazine, please reply to this email with "Remove" in the subject line.

INVITE A FRIEND to receive YOU Magazine. Please feel free to invite your friends and colleagues to subscribe.

SUBSCRIBE to YOU Magazine. If you received this message from a friend, you can subscribe online.

Bill Vourazeris
Monarch Mortgage
600 Jefferson Plaza #205
Rockville, MD 20852

Homeowner Affordability and Stability Plan

Monarch mortgage — Tue, 24 Feb 2009 09:55:40 -0600

Obama Unveils Homeowner Affordability
and Stability Plan

Revised February 20, 2009

President Obama unveiled his plan to help stabilize the housing market and keep millions of borrowers in their homes.

The Homeowner Affordability and Stability Plan includes two initiatives to help struggling homeowners. One is a refinancing program for homeowners with less than 20% equity in their homes, or who owe more than their home is worth. The second program attempts to lower monthly payments for homeowners at risk of losing their home. In addition, the plan includes a third initiative to support low mortgage rates by strengthening confidence in Fannie Mae and Freddie Mac.

Many of the plan's details are still being worked out and will not be announced until March 4, here is an overview of the plan's main components.

Refinancing Initiative
Under current rules, those families who own less than 20% equity in their homes have a difficult time refinancing and taking advantage of the historically low interest rates. Therefore, the refinancing initiative in the new plan provides refinancing help for homeowners with less than 20% equity in their homes or who owe more than their home is worth. This initiative is open to homeowners who have conforming loans which are guaranteed by Fannie Mae and Freddie Mac, and who owe up to 5% more than their home is worth.

According to the plan, "credit-worthy" or "responsible" homeowners can refinance their mortgage into a 30- or 15-year, fixed-rate loan based on current market rates. The refinanced loan, however, cannot include prepayment penalties or balloon payments. For many families, this low-cost refinancing may help reduce their mortgage payments by up to thousands of dollars per year.

As with the rest of the plan, details about this initiative will be released at a future date-including what, if any, credit score requirements will be included.

Stability Initiative
This initiative aims at providing help to individual families as well as entire neighborhoods by helping reduce foreclosures and stabilize home prices. It is intended to help homeowners who are struggling to afford their mortgage payments, but cannot sell their homes because prices have fallen significantly.

The goal of this initiative is simple: "reduce the amount homeowners owe per month to sustainable levels." To accomplish this, lenders are encouraged to lower homeowners' payments to 31 percent of their income by lowering their interest rate to as low as 2% or by extending the terms of the loan. In addition, lenders can also lower the principal owed by the borrower, with Treasury sharing in the costs.

Homeowners who are current on their mortgages but are struggling can still apply for this program. As such, this is one of the few programs designed to help homeowners who may face delinquency soon, but are current at the moment.

Since the focus of this initiative is on helping families and neighborhoods, investment properties do not qualify. This initiative also includes a number of additional elements and incentives that benefit homeowners and lenders alike, including:

Incentives to Help Borrowers Stay Current: To provide an extra incentive for borrowers to keep paying on time, the initiative will provide a monthly balance reduction payment that goes straight towards reducing the principal balance of the mortgage loan. As long as a borrower stays current on his or her loan, he or she can get up to $1,000 each year for five years.

Reaching Borrowers Early: To keep lenders focused on reaching borrowers who are trying their best to stay current on their mortgages, an incentive payment of $500 will be paid to servicers, and an incentive payment of $1,500 will be paid to mortgage holders, if they modify at-risk loans before the borrower falls behind.

Supporting Low Mortgage Rates
As part of the Homeowner Affordability and Stability Plan, the Treasury Department is increasing its funding commitment to Fannie Mae and Freddie Mac to ensure the strength and security of the mortgage market and to help maintain mortgage affordability. This portion of the plan will use using funds already authorized in 2008 by Congress for this purpose.

The increased funding will enable Fannie Mae and Freddie Mac to carry out ambitious efforts to ensure mortgage affordability for responsible homeowners, and provide forward-looking confidence in the mortgage market.

Again, the government plans to unveil the final details of the plan on March 4, 2009. For now, you can download a sheet of common Questions and Answers produced by the government at: www.treas.gov/initiatives/eesa/homeowner-affordability-plan/ConsumerQA.pdf

I will continue monitoring the plan as new information becomes available. If you have any questions or would like to discuss how this may specifically impact you, I'd be happy to sit down with you. Just call or email me to set up an appointment.

Bill Vourazeris

Senior Loan Officer

Cell: 443-618-2880

email: bvourazeris@monarchmtg.com

www.monarchmtg.com/bvourazeris

"The BEST compliment is a referral to a friend or family member, Thank you"

What Does The Economic Stimulus Really Mean?

Monarch mortgage — Tue, 24 Feb 2009 09:48:06 -0600

Bill Vourazeris

Monarch Mortgage

443-618-2880

I received a large number of calls this last week about what the Government's latest attempt to stimulate the economy really means to them. Thus I have highlighted below a couple of the more important items.

Tax Credit for Homebuyers
First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction - a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

Tax Credit Versus Tax Deduction

It's important to remember that the $8,000 tax credit is just that... a tax credit. The benefit of a tax credit is that it's a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homebuyer were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a homebuyer is liable for $4,000 in income tax, he can offset that $4,000 with half of the tax credit... and still receive a check for the remaining $4,000!

Phase-out Examples

According to the plan, the tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.

To break down what this phase-out means to homebuyers who are over those amounts, the National Association of Homebuilders (NAHB) offers the following examples:

Example 1: Assume that a married couple has a modified adjusted gross income of $160,000. The applicable phase-out to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time homebuyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.

Example 2: Assume that an individual homebuyer has a modified adjusted gross income of $88,000. The buyer's income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.

Remember, these are general examples. You should always consult your tax advisor for information relating to your specific circumstances.

Homes that Qualify

The tax credit is applicable to any home that will be used as a principle residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principle residence also qualify.

Higher Loan Amounts

More good news - there is an extension on the additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans will again be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard "jumbo" loan rates.

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs - This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings - This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing-This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance-This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future
Another thing to keep an eye on in the coming weeks is President Obama's plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That's because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

The Economic Stimulus Plan is huge, and impacts a number of industries. I've highlighted some of the major provisions that may impact you now and in the future.

As always, if you have any questions or would like to discuss how this may specifically impact you, I'd be happy to discuss this with you. Just call or email me when you have time to get more information..

Crofton, MD Bill Vourazeris

443-618-2880

Happy new Year!!!!

Monarch mortgage — Wed, 31 Dec 2008 10:54:24 -0600

Bill Vourazeris

443-618-2880

Crofton, MD This past year was one many of us would like to soon forget. Volatility, the credit crunch, bank failures and a redesign of the entire financial system were but a few things bankers had to address throughout the year. To keep those entertained that drew the short straw and are working today, I thought we might take a look back to try and gain some perspective, as we prepare to usher in what may be an equally challenging 2009.

In banking, we endured the worst global financial crisis in a hundred years, as subprime mortgages, free lending and loose regulation led to the downfall of many major financial institutions worldwide. FNMA and FHLMC were taken over by the US Gov't; Lehman went bankrupt; Bear Stearns collapsed; Merrill Lynch agreed to be taken over by Bank of America; insurer American International Group was propped up by the FRB; the oldest money market mutual fund collapsed; both Morgan Stanley and Goldman Sachs became banks; Washington Mutual and IndyMac collapsed; Citigroup was bailed out by the FRB; Wachovia was acquired; oil hits a record high, then collapses as the financial crisis picks up steam; yields were pushed to zero; stock markets worldwide collapsed; Bernie Madoff was busted for the biggest Ponzi scheme in history ($50B) and the year closed with Chrysler, GM and Ford being bailed out by the government.

All told, financial firms posted $1 trillion in credit related losses during the year. Historical events included the election of Barack Obama (elected as the 44th and 1st African American President), the resignation of Fidel Castro as President of Cuba; the resignation of New York Governor Eliot Spitzer (soliciting prostitution) and a brutal terrorist attack in Mumbai, India killed 200. Science and technology continued to advance, as NASA's Phoenix spacecraft became the 1st to land on the northern polar region of Mars; the Gamma-ray Large Area Space Telescope was launched; the proton beam was circulated for the 1st time in the world's largest particle accelerator (Large Hadron Collider); the SpaceX Falcon 1 became the world's 1st privately developed space vehicle successfully to make orbit; surgeons at London's Moorfields Eye Hospital perform the first operation using bionic eyes and the space shuttle was launched on its 124th mission.

On the big screen, the year went to Batman "The Dark Knight," which shattered box office records to become the year's highest grossing film. Meanwhile, on the small screen, the year was dominated by Tina Fey. Her show "30 Rock" won the Emmy for Outstanding Comedy and she also showed her acting prowess with a spot-on portrayal of VP candidate Sarah Palin on "Saturday Night Live."

When it came to pop culture, we bid a sad but fond farewell to famous people including Paul Newman (actor), Heath Ledger (actor), Isaac Hayes (musician), Bernie Mac (comedian), Sir Edmond Hillary (mountaineer), Bobby Fischer (chess master), Charlton Heston (actor), Sydney Pollack (director), Yves Saint Laurent (fashion designer), Bo Diddley (musician), Jim McKay (sports caster), Tim Russert (political journalist), George Carlin (comedian) and Michael Crichton (writer).

In sports, China held a spectacular summer Olympics that will be difficult to beat; Danica Patrick became the first woman to win an IndyCar race; the New York Giants upset the previously unbeaten New England Patriots; track star Marion Jones was stripped of her 2000 Olympics gold medals (after admitting to using steroids) and swimmer Michael Phelps won a record 8 Olympic gold medals (passing Mark Spitz with the most gold medals ever won in the Olympics).

As we prepare for 2009, we have no idea what it will bring, but we know Monarch will continue to grow and thrive. I thank you all for your hard work and commitment in 2008 and wish you a happy, healthy and prosperous New Year. Let the party begin.

Bill Vourazeris

443-618-2880

Learn from Your Success

Monarch mortgage — Tue, 30 Dec 2008 19:21:41 -0600

Bill Vourazeris 443-618-2880 Monarch Mortgage

Crofton, MD. Learn from Your Success

Focus On Strengths Rather Than Weaknesses

Our culture teaches us to focus on our weaknesses and then

improve upon them. While practice is critical to improvement in

some areas, author Benson Smith of the Gallup Organization

believes it is more important to focus on your strengths. By turning

your strengths into super-strengths, your valuable time can be

spent in areas where you feel more comfortable.

Over the course of 40 years, the Gallup Organization studied

250,000 sales representatives and 25,000 managers. The results

were published in the best-selling book, Discover Your Sales

According to Smith, "You do learn from your failures, but you learn

an awful lot more from your successes." For the same reason, we

use the phrase, "Keep your eye on the ball," rather than "Keep your eye on the strike zone." By focusing your attention on

the ball, you greatly improve your chances of hitting it.

The bottom line is there are more ways to do something wrong than solutions to do it right. When success is achieved, the

sales person must recognize the techniques that brought out his/her best qualities and use them as a foundation for a

business model.

Consider some of these questions as you plan new sales strategies:

· Am I more comfortable in front of a group, or am I better one-on-one?

· Am I a better communicator verbally or in writing?

· Am I a better communicator on the phone or in person?

Which makes me feel more pressured: prospects who just saw an ad and responded to it, or referrals who

expect more?

Are my presentations well-received when I work as part of a team, or do I get a better response from my

audience when I'm presenting alone?

There are infinite ways to highlight your strengths once you stop focusing on your weaknesses. By defining your sales

strengths and gearing your marketing efforts toward those assets, you can build a dynamic business model. Always begin

with this objective in mind: Building a turnkey system for success!

Bill Vourazeris

443-618-2880

Director of First Impressions

Monarch mortgage — Tue, 30 Dec 2008 19:16:43 -0600

Bill Vourazeris Crofton MD 443-618-2880 Monarch Mortgage

Using Voicemail to Start Off Right

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. It can also be used as a dynamic marketing tool.

If the first time you called a CPA, Financial Planner, or Real Estate Agent, you

heard a voicemail greeting that was energetic, educational and professional,

wouldn't that set the proper tone for the rest of the relationship? Very few

people take into consideration the full potential of the voicemail greeting!

Here are some suggestions for creative use of your voice message:

Leave your schedule for the day, including the time of day you can be

expected to return calls.

Most people don't mind leaving a voicemail message if they know when you

will be returning the call. This shows that you are very professional, organized,

and busy in your daily practices. It makes it crystal clear that you've taken the time to structure your day.

Assess what would be important to a prospect that is calling you for the first time.

What would they want to know about you? What would they want to know about your profession? If you seek to teach in

every interaction and form of communication that you have with people, you will be wildly successful regardless of what

business you are in. If you are a Real Estate Agent, discuss the market trends in your local community over the past 30 to

60 days. If you are a CPA, share any new or potential changes in tax laws that might be hot topics in the news.

Use your voicemail greeting to promote philanthropic activities.

Announce activities you are involved in with your church, school district, clubs or other organizations. This creates a

lasting impression that you are deeply rooted in the community.

Give people optional ways of communicating with you.

Provide your email address. Leave an alternative contact should they require immediate assistance, and be sure they

know how to bypass the message and transfer to another extension within your system.

Watch for more efficient methods I use to manage business and provide stellar customer service

Bill Vourazeris

443-618-2880

4.875% 0 points

Monarch mortgage — Tue, 16 Dec 2008 15:00:30 -0600

Mortgage Rates Plunge After Gov't Intervention

Loan amounts to 417,000 w/20% Equity

15 year fixed 4.875% 0 points

20 year fixed 5.125% 0 points

30 year fixed 5.25% 0 points

FHA 30 yr Fixed 5.125% no points up to 362K

FHA 30 yr Fixed 5.75% no points up to 625,500

New Super Conforming to 625,500 30 yr fixed 5.5% 0 points

rates subject to change daily

Call 443-618-2880 Bill Vourazeris

The Reality of a 4.5% Interest Rate

Monarch mortgage — Tue, 16 Dec 2008 14:50:30 -0600

While the mortgage market continues to generate a lot of chatter in both the media and in Washington, interest rates are currently near or at all-time lows. If you or anyone you know are looking to take advantage of these low rates, let me explain why now is the time to act.

Lately there has been talk about the 4.5% 30-year fixed rate mortgage. Will it become a reality though? Right now, no one really knows. Homeowners who could benefit from a lower interest rate need to know that even if 4.5% becomes a reality from Washington's actions, it would only be available to home buyers, not homeowners seeking to better their rate. If you need to refinance, you will be left out.

You also may have heard about Hope for Homeowners, which is a program approved by legislators to help distressed homeowners. However, regardless of its best intentions, the program has not been embraced by investors, and it is not available to many it could help.

The bottom line is, the Fed announced recently that they are going to buy up to $600 billion in mortgage-backed securities. This has already driven rates to historical lows. In January, the SEC is meeting and information may be released that could have a significant bearing on rates, potentially for the worse.

Waiting to obtain the best rate is only possible for those with loan applications already in process. Interest rates are incredibly volatile and fluctuations that used to take months are now occurring in just days or even hours. If you don't have an application in process, you could lose out.

We are already seeing lender backlog due to low interest rates. In 2003, with rates at these same low levels, we saw some lenders taking up to 90 days to close a loan.

Home loan rates are currently in the mid- to low-5% range. Home values are currently at 2003-2004 levels, coming down significantly from their high point. If you-or friends and family members you know-are contemplating seeking financing, now is the time to act.

With a first time home buyer tax credit of up to $7,500 and low or no money down programs available for many people today, now is a great time to buy a home.

If you have any questions about how we can help you, call us today.

Sincerely,

Bill Vourazeris

443-618-2880

Crazy Pricing????

Monarch mortgage — Thu, 04 Dec 2008 13:09:38 -0600

Crofton MD Bill Vourazeris 443-618-2880 Monarch Mortgage

If you have been watching the 10 yr Treasury note to gauge mortgage rates recently there have probably been several occasions when you were left scratching your head in bewilderment as to why a reprice for the worse popped up in your inbox.

The correlation between mortgage rates and the UST10Y has definitely weakened in 2008. Here is a chart of the recent spread. I highlighted the spread with red to illustrate...the current spread between the two is over 800bps and as you can from the chart the two yields often head in opposite directions. Expect that trend to continue as the hugely overbought intermediate yield curve Treasury notes see a round of profit taking in the near future.

If you are curious as to what REALLY drives mortgage rate here is a commentary I recently wrote to clarify the MBS's recent price volatility. ENJOY!!!

To dive a little further into the factors that drive mortgage rates one should take a step back and examine how the value of a bond is determined.

All interest rates are determined relative to what is considered to be the real risk free market interest rate if no inflation were expected. This real risk free interest rate, which most consider to be the 90 day US Treasury bill, is the benchmark for how other market rates are determined. Unfortunately the majority of interest rates are not risk free; there are other factors that go into determining what the money you invest NOW will be worth in the future. This is the concept of "The Time Value of Money". When placing a present value on your future cash flows you must consider several risks...these risks correspond to what you expect to receive in interest from an investment. That said, going back to how interest rates are determined...Remember all rates are based off of the "risk free" benchmark interest rate. On top of that to compensate for additional risks investors will demand additional interest based on the following...

1. Inflation Premium: If you invest $10 today and you expect the value of a dollar to be worth less tomorrow you will expect to be compensated for that loss of your initial investment. You will therefore demand a higher rate of return (interest rate). When inflation is expected to go up then interest rates go higher to compensate for the lost value of your principal investment.

2. Default Risk Premium: this portion of an interest rate is based off of the possibility that the person or company you are lending money to may not be able to pay you back. That is what a bond is after all, you are lending money to someone else , and in return you receive the interest rate plus the original money you lent them at a defined date. US Government Bill, Notes, and Bonds have a low default risk premium because the Federal Reserve can essentially print money to pay you back. Subprime loans have a high default risk premium because the chance that those borrowers will default on their loan is higher than a borrower with strong credit and stable income.

3. Liquidity Premium: If an investment cannot be quickly turned back into COLD HARD CASH it is said to be illiquid. The liquidity premium is based off the market demand for the type of debt (bond) you hold or issue. There is a massive demand for US Debt (bills, notes, and bonds) so if you wanted to sell your holdings of these securities it would be easy to find a buyer. If you hold the debt of lets say a small company, it will be harder to find a willing buyer because for example information about that firm is not readily available to the public. When it is hard to find a buyer of the security you must lower the price enough to attract a willing buyer. This is said to be an illiquid security.

4. Maturity Premium: This compensates an investor for how long their money will be tied up in an investment ...the longer the length of the bond contract (longer maturity) the more time there is for economic conditions to change. That means the inflation expectations may change or the ability of the debt issuer to service their loan may change as well. This is why the yield curve of US Bills, Notes, and the Long Bond is generally sloped upward. The clarity of economic expectations defines the maturity premium

So to put all this together...

Interest Rate = real risk-free interest rate + inflation premium + default risk premium + liquidity premium + maturity premium

NOW to relate to all this to mortgages...In the most simplistic of explanations....the pricing behavior of a bond is as so : When there is more demand for a bond, meaning more buyers than sellers, the price of the bond goes up. When the price of a bond goes up the yield goes down until supply and demand reach equilibrium again (and vice versa). To oversimplify this happens because the price of the bond eventually becomes too expensive relative to the return that is received (the interest rate).

Although mortgage rates act similar to US bills, notes, and bonds....they do not operate the exact same way. Allow me to give some background first. All the mortgages that are sold in the US end up being securitized in some way or another. Usually they are put together in big groups of loans with similar interest rates and similar loan characteristics. Those pools of loans have a specific cash flow tied to them based on the average interest rate (coupon) of the mortgages that make up (back) the pool. When investing in that pool of mortgages, because you know what the average coupon rate, you know how much money you will get paid and when you will receive these cash flows. This is a broad description of mortgage securitization, or how your mortgage becomes part of a mortgage backed security (MBS).

Now that you have some MBS foundation lets build on it. How are the rates you are offered determined?

When economic conditions change or one of the above premiums changes these pools of mortgages either gain or lose value, meaning they become worth more or worth less. When those pools change value so do the interest rates you are offered when you seek to refinance or purchase a home. Here's how: Every morning lenders publish a rate sheet and distribute it to loan officers who then offer you an interest rate. Depending on the time these rate sheets are generated, rates will either be better or worse based on the price the MBS pools are trading at when rate sheets are generated. If the MBS is being bid up (price increases) rates will most likely be lower compared to the previous day. If MBS coupons are selling off, the rate you are quoted will higher than the previous day.

Here is where things get a little more complicated. If the MBS prices go up and stay up, mortgage rates will move lower and lower. If rates move lower there may be enough incentive for you to refinance your home. When you do this you are paying off your old mortgage and getting a new one with a lower interest rate, which restarts the securitization process. But here is the thing...the loan servicer, money market fund, or bank that invested in the pool of MBS that your loan partially backs has lost the cash flow that you contributed when you made your monthly payment. This is the big difference between mortgages and other types of bonds like the 10 yr US Treasury....an MBS investor knows about how much cash flow they will receive and when they will receive it, what they don't know is how long the cash flow will last due to the fact that borrowers have the ability to refinance their loan at any time. This additional risk associated with mortgages is called prepayment risk, the option to refinance is an "embedded call option". Prepayment risk adds a feeling of uncertainty to MBS investors, it distorts a portfolio managers ability to determine the present value of the expected future income streams that are generated from pools of mortgages.

When rates are expected to be lower in the future, well I should say low enough to provide incentive to refinance or purchase, the pools of mortgages (MBS) that are backed by loans with higher rates will begin to lose more and more value as rates go lower and more borrowers refinance their loans (they prepay their loan or use their call option). Remember the income MBS investor expect to receive is generated when you pay your monthly payment, so if you refinance your loan MBS investors lose the income stream they were expecting you to contribute to the MBS pool. MBS investors therefore must find a way to replace that lost expected future cash flow. If a group of MBS investors believes rates will go lower then they may sell a portion of their higher interest rate MBS holdings in favor of lower rate pools to compensate for lost income. They do so because they believe they will receive stable cash flows for a longer period of time. Even though they receive a lower return, more income is generated in the long run.

How does this affect day to day mortgage rates?

When these shift in coupon days (buying a pool of mortgages with lower rate) occur there is a large amount of MBS selling which is usually not met with equal buying demand. Often times when selling a pool of MBS made up of mortgages with higher interest rates, investors will look to buy pools secured by loans with lower rates to stabilize their expected future cash flows. This is called a down in coupon day and is a major force in the daily price movements of mortgage backed securities. The same happens on up in coupon days but in that case MBS investors believe rates are going higher and they can make more of a return in higher yielding MBS pools.

To summarize when reading my commentaries you should understand that when I say prices of mortgage backed securities (MBS) are going up that the rate you are offered as a borrower will go down. The MBS is subjected to the same premiums that determine the value of other types of bonds, except MBS are exposed to prepayment risk, the fear that an investor may lose future cash flows because a mortgage holder (borrower) decides to refinance their home. This additional risk often forces portfolio managers to extend the duration of expected future cash flows by either buying lower coupon MBS pools or perhaps purchasing less risky securities with more relative value. In times of economic uncertainty, forecasting the expected interest rate environment becomes a difficult task. Therefore the models used to determine the future value of cash flows generated by a pool of mortgages become inaccurate. This creates a volatile interest rate market and often times confuses borrowers as the why the range of offered mortgage rates vacillates in a wide range. US Treasuries do not face these challenges and their values are therefore much more transparent. Remember MBS is the primary influence over what interest rate a mortgage lender or bank offers, not the 10 year US Treasury note.

Bill Vourazeris 443-618-2880

Crofton, MD Stop Snail Mail in Its Tracks Monarch Mortgage Bill Vourazeris 443-618-2880

Monarch mortgage — Wed, 22 Oct 2008 10:41:01 -0500

Junk mail is not only annoying, it's expensive, too! Did you know that over the course of your lifetime you will spend up to 8 full months perusing junk mail, half of which you'll throw away without ever even opening? It's true. Americans reportedly pay $370 million to haul 5.6 million tons of unrecycled junk mail to US landfills each year - that's 1.5 trees for each American household, according to the Center for a New American Dream!

With this in mind, there are a few simple things you can do to significantly reduce the sheer volume of junk mail you receive each year. While experts suggest that it's impossible to stop all commercial mail, you may be able to slow it down by up to 90% by following the tips below.

Opt-out of Pre-approved/Pre-screened Credit Offers
Visit www.optoutprescreen.com (or call 1-888-567-8688) and follow the instructions for opting out of "firm" offers from credit, insurance, and mortgage companies. These offers are the result of the major consumer credit reporting companies selling your name and contact information whenever you apply for credit.

This site offers both 5-year and lifetime removal from these mailing lists; however, in order to be removed for life, you have to mail in your request as opposed to doing it online. The credit companies are betting that you're too lazy to take the extra step to opt-out for life, but you can prove them wrong.

Register for the Direct Marketing Association's (DMA) Mail Preference Service
For $1, the DMA will add you to their do-not-mail file. Visit www.the-dma.org to register for this service. If you receive mail for an ex-spouse or people who no longer live with you, you can add them to the list as well. If you receive junk mail for deceased relatives, visit www.ims-dm.com/cgi/ddnc.php to remove their names.

Instruct Companies Not to Share Your Information
Whenever you purchase anything that comes through the mail, including magazine and newspaper subscriptions, be sure to read each company's privacy policy carefully. Often, especially for non-profit organizations, you'll be given an option to check a box if you don't want your data shared with anyone else. If there is no such option, write it in yourself, clearly expressing that you do not want your information shared with anyone. Follow this up with a phone call to let them know before it's too late.

If you have any trouble removing yourself from a specific mailing list, visit the Direct Marketing Association and use their complaint form to report the company. If you receive unsolicited adult-oriented advertising ("SOA"), contact the US Postal Service and ask about removing your name from these mailing lists.

While completing these easy steps won't keep certain unwanted mail from filling up your mailbox - your bills, for instance - the ratio of cards and letters you do want to receive versus those you don't will change significantly in just 30-60 days.

If you have any more junk mail tips to add to this list,
please don't hesitate to call and fill me in!

Bill Vourazeris 443-618-2880

Bethesda, MD. Timing is Everything...Especially When it Comes to Saving Monarch Mortgage Bill Vourazeris

Monarch mortgage — Wed, 22 Oct 2008 10:37:29 -0500

Bethesda MD

Monarch Mortgage Bill Vourazeris 443-618-2880

Did you know that the fiscal year for Japanese companies ends in March? Do you care? You should, if you want the best deal on a new television for your home theater system.

That's because new models and products are scheduled for release at the beginning of the new fiscal year - which for Japanese electronics companies is April. And the release of the new models means, you guessed it, huge discounts on the previous year's models. So if you're shopping for a television, stereo, or other electronics, your best bet is to watch for sales in spring.

Looking for Even More Savings?
You can save on just about every item you need...if you know what season or day of the week to purchase it. Below are some tips to help you save the most on your shopping list.

Airplane Tickets: Your best chance for saving is Wednesday morning. That's because airlines introduce their savings over the weekend and, during the first few days of the week, subtle price wars begin. By early Wednesday, the savings have usually hit their peak, and there are still plenty of seats left for you to capitalize on.

Furniture: Unless you need to replace your sofa or dining room table right away, those "HUGE" weekend and holiday sales aren't the best time to buy. Instead, you should plan ahead and do your furniture shopping in October or April. That's when new lines of furniture are unveiled at industry trade shows, which means you can save big on the in-store stock that needs to be sold before the new inventory takes a seat on the showroom floor.

Cars: You probably already know that you can save on car purchases in early fall when new models are released and the current models go on sale. And you may also know that your best chance to negotiate a better price is at the end of the month when car dealers need to make their monthly quotas. But did you know you can drive home a great deal early in the week, especially in the morning? At that time, the dealerships aren't overflowing with shoppers like they are on the weekend, so you'll get more personalized attention. Plus, salespeople are more likely to negotiate when they don't have three or four other buyers waiting in the wings to pay full price.

Toys: The winter holiday season is a no-brainer for toy sales. But you can also save some serious dollars at the end of summer. Think about it, department stores only have so much room to store their merchandise. And by the end of the summer, they're starting to stock up for the big holiday push, which means they have to get rid of their current inventory of fun. So for savings of 60% and more, try toy shopping as summer winds down in August.

Clothing: By the time the weekend rolls around, just about every dressing room is filled and the best deals have already been sorted through. With the large number of special promotions to be marked and shelves to be stocked, most clothing stores get started early. And savvy shoppers like you can get the best deals and the best selection by Thursday evenings. As an added bonus, the stores, dressing rooms, and checkout lines aren't nearly as crowded, so you can save on stress too!

If there are any special savings strategies that I should add to my list, don't hesitate to give us a call.

Monarch Mortgage Bill Vourazeris 443-618-2880

Crofton, MD Travel Tips: the Art of Packing Monarch Mortgage Bill Vourazeris 443-618-2880

Monarch mortgage — Wed, 22 Oct 2008 10:34:12 -0500

Crofton, MD

Monarch Mortgage Bill Vourazeris 443-618-2880

rWith airlines increasing fees for checked and even carry-on baggage, mastering the art of packing has never been more important for today's smart travelers. The following tips will help you pack smarter and arrive with everything you need.

Prepare for Success
The first step for the smart packer is to turn on the computer. That's right, don't do anything until you first visit the Transportation Security Administration's (TSA) website for its latest list of prohibited items. You can be the best packer in the world, but it won't matter if the items in your luggage are not TSA-approved. While you're there, be sure to take a look at TSA-approved locks as well, and avoid further delays.

Check with Your Airline
While you're online, visit your airline's website for the latest luggage restrictions. After all, before you can make the most of your luggage space, you have to know exactly what you're working with: the maximum number, weight, and size of both carry-on and checked bags.

The 4-1-1 on the 3-1-1
Start with toiletries, and be sure to follow the TSA's "3-1-1 Rule." According to this rule, liquids and gels of three ounces or less must be packed in a one-quart-sized resealable plastic bag, with one bag per person. Pack this bag in a separate, side compartment to limit any messy accidents and to make it easy for inspection if necessary.

Have a Game Plan
Think about what you're going to be doing and what you're going to need and bring only what is necessary. Color coordinate your wardrobe by mixing and matching garments from a single color palette. Remember, you can always dress things up or down with the right accessories.

Start Packing!
Wear your bulkiest shoes and pack any others first in your bag. Be sure to utilize the space within your shoes - socks and other pliable items - and then wrap your shoes in shoe bags.

Roll or bundle similar garments to help organize and minimize space. For example, start with a shirt or jacket and lay it out flat on your bed with its arms flat. Then add a similar garment on top but inverted between tissue paper. Fold all arms in and carefully roll. Do the same for pants or other items. Do not pack garments in plastic bags and alternate bundles in flat layers.

For some large or odd-sized items, like golf clubs or surf boards, shipping might be cheaper and safer than bringing them along. If you do choose to ship any luggage, be sure to let the hotel know beforehand. Note the date of arrival clearly on the package and indicate that you are a guest. This will ensure prompt service once your bags arrive.

That's it, you're all packed and ready to go. Have a great trip. And when you get back, give us a call and let us know of

Monarch mortgage Bill Vourazeris 443-618-2880

Crofton, MD Interest Rates Bill Vourazeris 443-618-2880

Monarch mortgage — Fri, 17 Oct 2008 13:57:59 -0500

Interest Rates
When is the Best Time to Lock?

Crofton, MD Bill Vourazeris 443-618-2880 I always advise my clients to lock in their interest rate at the earliest opportunity. Gambling with a client's interest rate is never advisable. In my business, I have a standardized system in place that we adhere to for all of our clientele.

A mortgage loan cannot be closed without locking in a rate, and there are three main elements to take into consideration:

Interest Rate
Points
Length of the lock

Locking in on a rate does not obligate the client to commit to the loan until the loan is actually closed. The lock simply eliminates any risk of the borrower being exposed to market volatility. It provides the security of having time to complete the mortgage and Real Estate transactions with some sense of order. The lender must disburse funds to complete the transaction within the rate-lock period, or else the original commitment to provide a loan at a certain interest rate will expire.

When a lender permits an extended lock-in period, the borrower will usually see either a higher interest rate or more points associated with the loan. The lender does this to minimize their own exposure to market volatility; hence the borrower pays for the lender to take on this risk.

For example, a 30-day rate lock commitment may cost the consumer one-half point, while a 60-day rate lock commitment could cost 1 full point. If the borrower needed an extended lock period, but did not want to pay points, the lender could make up the difference in the interest rate. In this case, typically, a 60-day lock would have a higher interest rate than a 30-day lock.

In my business, our standard procedure is to lock in a rate as quickly as possible once we have received the loan application. My team and I let our clients know that while interest rates fluctuate daily, most lenders do not want to lose any business. We know that in many cases, if there is a significant rally in the market that causes interest rates to drop 0.25% or more, we can ask the lender to renegotiate the rate. Often the lender allows for a renegotiation to avoid potentially losing the loan to another lender.

If we allow our clients to sit on the fence and not lock in a rate quickly, we would leave them exposed to market volatility. Then, if rates do increase, the borrower may be unable to qualify for the loan they want, which is a situation we try to avoid at all costs.

By knowing our clients' needs and working intimately with them to make the right decisions, my team and I are proud to say that we have many clients who are raving fans.

Bill Vourazeris 443-618-2880

Crofton,MD Increasing Your Hourly Rate of Pay Bill Vourazeris 443-618-2880

Monarch mortgage — Fri, 17 Oct 2008 13:55:42 -0500

Increasing Your Hourly Rate of Pay
Working with Purpose

Crofton, MD Bill Vourazeris 443-618-2880 Each and every one of us works on an hourly rate of pay. What we get paid by the hour has a direct correlation with what we choose to do with our time, and how we make use of the employees and systems we surround ourselves with in our daily work activities.

Here is a great exercise that will put into perspective how you use and manage your time, and henceforth drive your hourly rate of pay. Take out a yellow legal pad and place it on your desk. Every day for the next 3 days, in 15 minute increments, write down exactly what you did in the last 15 minutes. Here's an example:

8:30 - 8:45	Checked email
8:45 - 9:00	Checked voice mail
9:00 - 9:15	Returned phone call to client
9:15 - 9:30	Met with bookkeeper to go over monthly P&L

At the end of 3 days you will have several sheets of paper listing everything you've been doing. Now ask yourself a very important question: What do you want your hourly rate of pay to be? To find out, decide how much money you want to make this coming year. Let's say that figure is $100,000. Assuming you want to work only 40 hours a week, calculate in two weeks vacation, which will equate to roughly 2000 working hours. If you take the $100,000 income goal and divide it by 2000 hours, then your hourly rate of pay has to be $50 an hour to achieve your objective.

Now let's get back to those yellow sheets of paper. Leave the office for a few hours and take these sheets of paper with you, along with a red and a green highlighter. Go through these 3 days of work and highlight in RED everything on those pages that you would NOT want to pay someone $50 an hour to do. Next, highlight everything in GREEN that is worth $50 an hour to you. After you have gone through this entire list of activities, you will more than likely find you have more red activities than green.

Your objective now is to get rid of the RED activities on your schedule! These are things you should delegate to other people on your staff. Make sure those tasks are getting done, but they aren't things that need to be done by you. You will free up a significant amount of your time by eliminating these RED activities. Your job is to fill that free time with GREEN activities! After completing this exercise and dedicating yourself to performing only GREEN activities, you will find your hourly rate of pay will skyrocket - along with your income!

Hopefully, this information will help you to maximize your time and increase your business. Please call me if you would like to discuss this topic further!

Bill Vourazeris 443-618-2880

Crofton, MD The Art of Happiness Bill Vourazeris 443-618-2880

Monarch mortgage — Fri, 17 Oct 2008 13:53:46 -0500

The Art of Happiness
Making Each Day Your Best

Crofton, MD Bill Vourazeris 443-618-2880 In The Art of Happiness*, the Dalai Lama shares this powerful insight into life:

"I believe that the very purpose of our life is to seek happiness. That is clear. [Regardless of religion], we are all seeking something better in life. So I think the very motion of our life is toward happiness."

But how are we to achieve this happiness that we all seek? What common factor can we rely upon, regardless of our health, wealth, appearance, family, etc? The Dalai Lama goes on to discuss how the mind can be trained for happiness, despite a lack of material wealth and success. It's that whole idea of "wanting what you have versus having what you want."

Stephen Covey refers to this as "responsibility," or the ability to choose your response. Tony Robbins calls it "reframing your perspective". James Allen simply calls it "self-control." Whatever name it goes by, the principle is the same: We all have the power to think positive thoughts, and to react positively to every "negative" thing that happens in our lives.

Why, then, is it so hard to do?

Because like anything of any worth, it takes effort. It takes practice. It takes time. And like most skills, the sooner you begin, the sooner it gets easy. But no matter how old we are, we can all start practicing positive thinking today, and begin being happier immediately.

It's very easy to get out of practice, however, so it's best to surround yourself with triggers for happiness. Music is one of the best triggers. Just think how happy we get when we hear Little Orphan Annie singing, "The Sun Will Come Out Tomorrow," or Bobby McFerrin crooning, "Don't Worry, Be Happy." We can also remind ourselves with little incantations such as "look on the bright side" when things aren't going as planned.

I hope this tip brightens up your day!

Crofton, MD Bill Vourazeris 443-618-2880

Crofton,MD Making Dreams a Reality Bill Vourazeris 443-618-2880

Monarch mortgage — Fri, 17 Oct 2008 13:51:17 -0500

Making Dreams a Reality
Shaping Your World by Thought

Crofton, MD Bill Vourazeris 443-618-2880 There's no end to the number of motivational speakers and self-help "gurus" who make a name for themselves by re-hashing old ideas. But there is truth to these ideas, and I especially wanted to share one of the ideas from the great-grandfather of self-help, James Allen.

Allen's treatise, As A Man Thinketh, was first published at the turn of the twentieth century. His central notion is that our thoughts are under our control, and that they in turn determine our emotions, our health, and even our circumstances.

"Circumstance does not make the man; it reveals him to himself. No such conditions can exist as descending into vice and its attendant sufferings apart from vicious inclinations, or ascending into virtue and its pure happiness without the continued cultivation of virtuous aspirations...

"And you, too, youthful reader, will realize the Vision (not the idle wish) of your heart, be it base or beautiful, or a mixture of both, for you will always gravitate toward that which you secretly most love. Into your hands will be placed the exact results of your own thoughts; you will receive that which you earn, no more, no less. Whatever your present environment may be, you will fall, remain, or rise with your thoughts, your Vision, your Ideal. You will become as small as your controlling desire; as great as your dominant aspiration."

This goes hand-in-hand with Henry Ford's wise saying, "Whether you think you can or whether you think you can't - you are right." And there is no end to the number of sources that make the same claim - that by dedicated thought and action, you can achieve anything.

Movies like "Rudy" and "Miracle" show us the true stories of sports legends who made their dreams come true. "Homeless to Harvard" details the true story of Liz Murray, who went from living on the streets to getting a scholarship to Harvard. "October Sky" follows Homer Hickam's ascent from poor boy in a West Virginia mining town to NASA engineer.

I'm grateful for inspirational films and books that remind me of the unlimited potential each of us shares. I hope you'll continue to mentally construct the world you want to live in, and the successes you want to see.

Stay tuned for more Business Boosters coming your way!

As a Man Thinketh is in the public domain, with newly published editions available at your local bookstore.

Crofton MD, Bill vourazeris 443-618-2880

Denton, MD Build a Great Team Bill vourazeris M-Point Mortgage Services 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:44:19 -0500

Denton, MD M-Point Mortgage Services Bill vourazeris 443-618-2880

Build a Great Team
You Are the Quarterback!

There comes a point in time in every business professional's career when he or she is tired of being a jack-of-all-trades and a master of none. At that point, they look to take their business to another level, either to create more income, more balance in their life, or both. When you find yourself in this situation, you must know it's time to become an employer.

The first rule of teamwork is that a team can never be completely dependent upon any one individual. The most common mistake made is the leader of the team failing to delegate activities, therefore stunting the growth of the team.

The next important point to remember is that as a leader, part of your job is to build a team of decision makers. This can only be done by observing, directing and training your associates at a very high level. As a leader you are responsible for the job security of your people. The clearer the vision of the leader, the more people will follow. When building your team, as the chief, you must lead by example. One of the great problems leaders have is failing to practice what they preach!

Each team must have a Visionary and a Manager. A single person should not hold these positions. In many cases, one person tries to fill both roles. This is the classic case of a workaholic. This is the type of person who puts in 60 or 70 hours a week and has no balance in their life. You must let go of this attitude if you wish to achieve success in building a strong team and surround yourself with supporters. Surround yourself with people whom you can trust, and whom you know will get the job done. You must engage yourself with people who will follow your lead. Your classic implementation person can attain the results that you, the visionary, are seeking to achieve in your business plan.

You are the quarterback of your team, and as such, you must have people around you who will protect you and block for you. Make sure that your working environment is enjoyable and satisfying, because this is the place where your people spend most of their waking hours. They spend more hours in the workplace than anywhere else in their lives. If this is not a satisfying, gratifying and enjoyable place, how can you expect your employees to flourish?

With this in mind, make sure you avoid the temptation of micromanaging. While delegating is a critical part of your role as the Manager or Visionary, keeping too close an eye on your employees makes them feel untrusted and hesitant. Let employees know you expect them to make some mistakes, but that you trust them to excel at their work without you hounding them or watching their every move. You'll be grateful for an employee who isn't afraid to use their own initiative, and who has confidence in themself.

Bill Vourazeris 443-618-2880

Denton, MD Training and Managing a Team Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:41:28 -0500

Denton, MD M-Point Mortgage Bill vourazeris 443-618-2880

Training and Managing a Team
Direct with Clear Job Descriptions

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 the position and its job description in great detail, even before you start interviewing people for that position. Here are some tips:

1. Define exactly what you are looking for, including the personality traits and skill sets you would like to see in that individual.

In addition, make sure you have a training schedule in place before you start conducting interviews, and share this information with the candidates. Remember, the clearer the vision of the leader, the more people will follow. How can you expect people follow your direction if your vision is cloudy?

2. Build an infrastructure with clear systems to follow.

One of the most successful companies in the world employs people who have an average IQ of approximately 100. This company is McDonald's®*. The reason McDonald's is such a successful fast-food chain is simple: They have a system in place that works. Their employees don't walk in at the beginning of their shift, wondering if they will be flipping burgers or making fries. There is no mayhem when McDonald's employees enter the workplace. There is a defined system that everyone is plugged into, and the result is a well-oiled machine with predictable results. Seek to achieve this type of system in your work environment.

3. Make sure that you have a formalized training schedule in place.

When starting off a relationship with a new employee, don't assume that they will hit the ground running without explicit instructions to follow. And even then, you may need to spend considerable time guiding them in their new position before they learn the ropes and can work autonomously. Again, having systems in place, especially training systems, will prevent you from wasting valuable time in this endeavor. You may even want to turn the training schedule over to one of your other high level employees to manage.

You should at least have a formal schedule that lasts one or two weeks, which provides the new employee with a clear and specific outline of what you expect from them. You must teach them the methodology, systems and infrastructure of your organization. It doesn't hurt to include assessments and quizzes in this process to make sure they understand that they must be accountable for what you expect them to learn.

Call me to discuss Bill Vourazeris 443-618-2880

Fredericksburg, VA. Kids and Money Bill Vourazeris M-Point Mortgage Services 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:05:32 -0500

Fredericksburg, VA. M-Point Mortgage Services Bill Vourazeris

443-618-2880

Kids and Money

Movies, lunch, new clothes, new car, college and more. Those of you with kids have dealt or will deal with these expenses. But, what is your teenager doing to cope with these expenses? If the answer is nothing, this might be a big problem. I meet more and more people every day that are unable to comprehend some of the most basic concepts of personal finance.

I think it is important to teach your child about money at a very early age. Starting at a preschool age, teach your kids the value of money and how important it is to keep their finances in order. Although long-term goals such as college or a car are far-fetched concepts for a pre-schooler to grasp, having simple goals such as saving for a new toy or trip to the zoo can teach your child to save money and spend it wisely.

Piggy banks are both teaching tools and toys and they are a perfect way for your little one to learn what money is and how to use and manage it. Sites such as www.moonjar.com and www.msgen.com offer unique alternatives to your "average" piggy bank, such as different sections for the money you save and spend.

A bank account is the perfect next step to teach your child about saving for those more expensive, long-term goals. Look for banks that have "free" youth accounts that have no minimum balance or age requirements. At most banks, a parent is responsible for the account or can open it up on the child's behalf. If your kids receive an allowance, suggest they put half of it into the savings account. Just like you, I'm sure they will be pleasantly surprised to see how much money they have in their account when that monthly statement arrives.

Having a job will help your teenager learn about money. After-school jobs will teach kids responsibility and give them experience in the so-called real world. An added bonus to having a job, they now have money in their pockets to spend on Friday night movies or that must-have pair of shoes. If you happen to have some friends with a young child, babysitting is a great way to start your teen off with their first job. A lot of places such as stores in the mall and local eateries will work around your child's school schedule. Sites like www.groovejob.com will help your teen find part-time jobs with companies in the area. Take care not to let your child get overworked. This way your teenager will be able to balance both school and work. The Department of Labor clearly defines how many hours a week and what type of work a child between the ages of 13 and 17 can do.

We all deal with bills and one day, so will your child. As a way of helping them learn to be responsible spenders, why not come up with a monthly amount with which they will pay for their expenses? You could charge them $10 for their monthly cell phone bill and $15 for their car insurance, whatever you deem to be fit. Once they start paying the bills, even if it is just to you, they'll understand that they cannot always buy anything they want, and that they need to put aside money for necessities as well.

The moment your teenager turns 18, they'll be bombarded with offers for credit cards. Many teenagers see credit cards as free money without thinking of the interest rates or payments that they will need to make. It all adds up to a heap of trouble if the debt is not paid. Teaching your child how to manage their money and credit will help them from becoming like many their age who have fallen victim to credit card debt. Remind them that any credit they apply for in the future is affected by what their credit is like now. Credit cards are heaven-sent for emergency situations. But other than that, if they don't have the money to buy the guitar or mp3 player they want now, it's probably not a good idea to buy it.

If you have any other tips on ways to help kids manage money, give me a call.

Bill Vourazeris 443-618-2880

Fredericksburg, VA. Credit Card Fine-Print Pitfalls Bill Vourazeris M-Point Mortgage Services 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:04:06 -0500

Fredericksburg, VA. Bill Vourazeris M-Point Mortgage Services

443-618-2880

Credit Card Fine-Print Pitfalls

Credit card companies are great at marketing their latest features, but before you or your clients sign on the dotted line, read the fine-print carefully and look for some of the following fine-print pitfalls:

Cash Advances - The convenience of getting cash is very expensive when it comes to some credit cards. Many credit cards not only charge an upfront fee of up to 4% of the advance, they also carry higher interest rates than other charges on the same card, and have no grace period whatsoever. But here's the sneaky part: many credit card companies will require that balances for regular purchases be paid off before you begin paying off the balance of the cash-advance, which is often hit with a much higher interest rate.

Killer Fees - When it comes to fees, no one is more innovative than credit card companies. Here are just a few: account set-up fee, program participation fee, account maintenance fee, authorized user fee, credit limit increase fee, Internet participation fee. But, the trickiest credit card fee for consumers who are looking to improve their credit scores is the annual fee. Forced to keep the account open to demonstrate a history of good payments to the credit bureaus, consumers end up paying annually for that privilege.

Universal Default Clause - The universal default clause is an egregious provision that allows credit card companies to tack on an exorbitant "penalty" interest rate if a consumer is late on any of his or her bills, including items like utility bills. According to the advocacy group, Consumer Action, most default interest rates hover around 30%, but it's not uncommon to see a penalty rate of up to 35%. Some analysts have even reported rates in excess of 40%!

Binding Arbitration - Some credit companies have a binding arbitration clause. By signing this agreement, you have waived your right to a jury trial if a dispute arises between you and the company. Your case must be settled by an arbitrator. And the arbitrator is often chosen and hired by the credit card company.

Changing Terms - The terms and conditions of credit cards can be easily amended by the lender with a simple written notification. This notice usually accompanies the monthly statement. Some reports suggest that many consumers simply end up trashing the important notification, along with the usual pile of unwanted marketing material also enclosed in the envelopes, without ever reading it. Don't this happen to you or to your clients.

If you think of any other credit card features I should add to my list, please give me a call.

Bill Vourazeris 443-618-2880

Fredericksburg, VA. Disaster Preparedness Bill Vourazeris M-Point Mortgage Services 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:02:40 -0500

Fredericksburg, VA. Bill Vourazeris M-Point Mortgage Services

443-618-2880

Disaster Preparedness
Simple Steps Everyone Can Take

Natural disasters are a fact of life. Each area of the country has its own challenges, from hurricanes on the Atlantic and Gulf Coasts to tornados in the Plains and earthquakes in California. Regardless of where you live, it's important to have plans in place to ensure that you and your family are prepared should an emergency arise.

Begin by researching which types of events could occur in your community:

Contact local authorities to learn how community alerts are issued and the evacuation routes you will need to follow.

Inquire about emergency plans at work, school, and any other locations that family members frequent on a regular basis.

Determine how to care for your pet(s) since most temporary shelters only permit service dogs to enter. Start by visiting the American Red Cross website's Animal Safety section to learn about suggested alternatives (www.redcross.org).

Next, develop a Family Emergency Plan:

Create contact information cards for each family member.

Select a reliable out-of-state relative/friend who family members should contact
if local communications are down.

Establish home escape routes and practice them.

Learn how to shut off your utilities.

Procure proper insurance coverage and protect your vital records.

Create a short list of what to take in case of a fire.

Finally, create a Disaster Supply Kit for your home, your car, and your office. Your home kit should include:

Food - Select prepackaged, ready-to-eat food and beverage items that your family will enjoy. Try to avoid anything that's too salty in case the water supply is limited.

Water - Store one gallon of water for each family member per day, and plan on a minimum of three days.

First Aid Kit and essential medications.

Non-electric can opener, knife, and utensils.

Battery-operated radio, flashlights, batteries, pens and paper.

Be sure to review the contents of the kit every six months, and replace anything that's about to expire.

Your office and car kits should contain a pared down collection of the items mentioned above, as well as comfortable shoes. In addition, you'll want to add flares and jumper cables to your car's inventory.

If you found this information to be helpful and would like to learn more, you may want to visit one or more of the following websites: www.redcross.org, www.72hours.org, and www.fema.gov/areyouready.
Do you have any tips on this subject that you would like to share?
Please call and tell me about them!

Bill Vourazeris 443-618-2880

Fredericksburg, VA. Boost Your Savings Account Bill Vourazeris M-Point Mortgage Services 443-618-2880

Monarch mortgage — Thu, 04 Sep 2008 09:00:57 -0500

Fredericksburg, VA. M-Point Mortgage Services Bill Vourazeris

443-618-2880

Boost Your Savings Account
...Without Even Trying

Annual income aside, there's not a person among us who wouldn't welcome the idea of having more money in their savings account. This is the money we use on everything from yearly vacations to family presents. Come holiday time, wouldn't it be nice to have an extra thousand or so dollars at your disposal? Here are a few ideas that can help to make that possible. The best part is you'll hardly feel it!

Bring Your Lunch to Work - The average person spends $6 when they buy their lunch yet only $2 when they pack it themselves. That's a potential savings of $20 a week or $1,040 dollars a year.

Durable over Disposable - Using products like Handi-Wipes (semi-disposable rags) as opposed to paper towels, and a rechargeable razor rather than the disposable kind, can save you up to $200 per year.

Hold an Annual Yard Sale - You should have no problem making at least a hundred bucks. Besides, you'll get rid of all that household clutter in the process. Whatever you don't sell can be donated to charity and used as a tax write-off.

Ask for Discounts - From buying airline tickets to paying a medical bill, always ask if there's a discount to be had. The worst that can happen is you'll be told no.

Get a Library Card - As opposed to buying a book for $20 or renting a DVD for $4, get it for free. If you average 3 movie rentals a month, you'll save yourself over $140 a year.

Watch Those Utilities - Changing over to energy saving light bulbs and low flow showerheads is a great start. Also, most utility companies offer a home audit you can complete online. If not, go to http://hes.lbl.gov for a virtual inspection of your home. You may be surprised to learn how much energy (and money) you could be saving.

The good news is suggestions like these are merely a start. Only you know where your household may be wasting money. Find inefficient habits and figure out a solution. Remember, every little bit counts. The final step is when you save money on something, put the savings into an earmarked account. Then leave it alone until it's the appropriate time to use it.

Do you have any tips on boosting your savings?
If so, give me a call and tell me about them!

Bill Vourazeris 443-618-2880

Denton, MD The EPA on Home Safety Bill vourazeris M-Point Mortgage 443-618-2880

Monarch mortgage — Wed, 03 Sep 2008 09:57:43 -0500

Denton, MD The EPA on Home Safety M-Point Mortgage Bill vourazeris 443-618-2880

The EPA on Home Safety
Reducing the Risks

Don't wait for a discerning buyer to find faults in a listed property. The EPA website (www.epa.gov) has tons of useful information on possible hazards in a home, and you should at least check the following conditions as part of the listing process.

Radon Gas - In January of 2004, the HUD home inspection form for FHA loans (HUD 92564-CN) was modified to include information on radon content in indoor air. This form (updated again in June of 2006) is mandatory for all FHA-insured mortgages, which means a good portion of buyers may request a radon inspection as part of the home inspection process. To find a radon service professional, visit www.epa.gov/iaq/whereyoulive.html.

Asbestos - Asbestos may not be easily identified, so consult with a professional if you are unsure about a material in a home. The Environmental Protection Agency says that "Usually the best thing is to LEAVE asbestos material that is in good condition ALONE." If buyers have concerns, refer them to www.epa.gov/asbestos for current information on asbestos risks.

Lead-Based Paint - If a home was built before 1978, there's a chance that lead-based paint was used. If the paint is peeling, that is not the only danger to be concerned about. Lead-contaminated dust and soil can also pose serious health risks to children and pregnant women if inhaled or ingested. Make certain the buyer knows if there is lead-based paint in the home, and remind them that removal of lead-based paint, if done incorrectly, can result in lead-contaminated dust being released into the air. Visit www.epa.gov/lead for more information.

Smoke Alarms - Know your state's smoke alarm laws by heart! Some states require one smoke alarm in each bedroom, plus a detector on each floor. Make sure your sellers' home complies - the last thing you want is a delay in a purchase for something as simple as smoke alarms!

Be sure to do your homework as there may be risks specific to the region where you live, such as California's earthquakes or Florida's hurricanes, that mean regional laws to follow.

Call me when you have a client who needs special assistance in obtaining their next mortgage.

Bill vourazeris 443-618-2880

Natural disasters are a fact of life. Each area of the country has its own challenges, from hurricanes on the Atlantic and Gulf Coasts to tornados in the Plains and earthquakes in California. Regardless of where you live, it's important to have plans in place to ensure that you and your family are prepared should an emergency arise. Begin by researching which types of events could occur in your community:
Contact local authorities to learn how community alerts are issued and the evacuation routes you will need to follow. Inquire about emergency plans at work, school, and any other locations that family members frequent on a regular basis. Determine how to care for your pet(s) since most temporary shelters only permit service dogs to enter. Start by visiting the American Red Cross website's Animal Safety section to learn about suggested alternatives (www.redcross.org).

Next, develop a Family Emergency Plan:
Create contact information cards for each family member. Select a reliable out-of-state relative/friend who family members should contact if local communications are down. Establish home escape routes and practice them. Learn how to shut off your utilities. Procure proper insurance coverage and protect your vital records. Create a short list of what to take in case of a fire.

Finally, create a Disaster Supply Kit for your home, your car, and your office. Your home kit should include:
Food - Select prepackaged, ready-to-eat food and beverage items that your family will enjoy. Try to avoid anything that's too salty in case the water supply is limited. Water - Store one gallon of water for each family member per day, and plan on a minimum of three days. First Aid Kit and essential medications. Non-electric can opener, knife, and utensils. Battery-operated radio, flashlights, batteries, pens and paper. Be sure to review the contents of the kit every six months, and replace anything that's about to expire.