Just-In-Time Loans

My Blog Action Day Post on Climate Change 2009 #BAD09

Justin Williams - Loan Officer (Prosperity Mortgage) — Thu, 15 Oct 2009 20:05:51 -0500

Blog Action Day 2009 Topic: Climate Change (http://www.blogactionday.org/)

I am continuing my tradition in helping contribute to Global Awareness through the power of bloggers uniting and writing my blog post.

This years Topic is Climate Change.

What is Climate Change?

Climate is the long-term average of a region's weather events lumped together. Climate change represents a change in these long-term weather patterns. They can become warmer or colder. Annual amounts of rainfall or snowfall can increase or decrease.

My 2cents on Climate Change

(Photo credit Associated Press)

Let's make this clear, regardless of what Political Side you are associated with, there is no need to make this years topic a Political Topic. This is not Global Warming or some hidden experiment the government is doing, this my friends are real problems on how Weather can play a vital role in our lives.

Climate Change is a severe issue that has affected many people over the years.

Most recently is the Phillipine's Flooding that happened this year, affected over 300,000 people and caused the capital to be 80% underwater!

Lets Be Pro-Active in Climate Change

Not only were the Phillipines not prepared and ready for this type of natural disaster but too many countries including the United States which was shown in Hurricane Katrina shows that the world needs to be better prepared for the ongoing Climate Changes.

This is not a call to action to determine if there is Global Warming or using tax money to fund energy efficient products, this is a call to action to have more awareness in dealing with our Climate Changes regardless of Political Agenda.

These issues are real and instead of looking too deep into these issues lets focus on ways to improve our Earth:

Help contribute to repairs of disasters
Help volunteer
Spread Awareness
Be part of the solution and not the problem

Thanks for Reading my post on #BAD09 this year looking forward to next years topic!!

Have You Registered for Blog Action Day October 15th 2009? Bloggers Unite

Justin Williams - Loan Officer (Prosperity Mortgage) — Tue, 13 Oct 2009 12:44:19 -0500

Last year I participated in Blog Action Day call to action regarding poverty in my post here.

This year's topic is Climate Change and I think it's a good one because of all the horrible events that happened with the dangerous climate storms we had recently, especially with the flooding in Philippines.

Below is the run down on Blog Action Day and I hope you too can participate, I am participating in both my blogs.

Blog Action Day October 15th 2009 (http://blogactionday.org/)

Blog Action Day is an annual nonprofit event that aims to unite the world's bloggers, podcasters and videocasters, to post about the same issue on the same day. Their aim is to raise awareness and trigger a global discussion.

The Purpose Of Blog Action Day ( video here )

The goal is to create a world wide awareness on a different topic each year through the power of blogging. Blogs are a great promotion, communicator and resource of information. What better way to help promote this years topic by contributing a blog to this cause.

No Excuses. You don't have to donate money or even run in a marathon. All you have to do to spread awareness is write a blog on the topic for that day.

If that's still not convincing enough, did I mention when you register your blog you get a free SEO Backlink from their site, showcasing you registered? :-)

Hope to see everyone's posts this Thursday!!

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As always thanks for checking out my blog, feel free to leave a comment and have a great day!

Just-In-Time's Word on the Good Cause

Take Advantage of the 5% increase in Energy Efficient Mortgages & Tax Credit

Justin Williams - Loan Officer (Prosperity Mortgage) — Mon, 20 Jul 2009 23:58:52 -0500

What is a Energy Efficient Mortgage? *FHA & VA Only*

In simple terms, An Energy Efficient Mortgage is financing improvements for your Home that is Energy Efficient. Becoming Energy Efficient reduces your monthly utility costs and can ultimately increase your home value.

Below are some examples of what to improve to become more Energy Efficient.

Windows and Doors

Insulation & Cooling

Roofs

Lighting

EEM increases to 5%

Previously, Energy Efficient Mortgages were capped at $4,000 or $8,000 in improvements, whichever was greater.

June 10 2009 HUD released the change to The maximum amount of the portion of the EEM for energy improvements is the lesser of 5% of:

• the value of the property, or

• 115% of the median area price of a single family dwelling, or

• 150% of the conforming Freddie Mac limit

So now you can make some great improvements to your home and go for a combo to get an additional tax credit on top of that!

Up to $1,500 Tax Credit for Energy Efficiency Improvements

Tax credits are now available for home improvements which must be "placed in service" from January 1, 2009 through December 31, 2010.

Most all Energy Efficient Improvements (Please Check with your Tax Advisor) will allow 30% of cost, up to $1,500 to be claimed as a Tax Credit.

The Ultimate Combo Example

So realistically you could get the following:

Buy a home and repair all the windows by financing the repair cost in an Energy Efficient Mortgage.
Get the $8,000 tax credit as a first time home buyer
Get the $1,500 tax credit as an Energy Efficient Improvement

Total = $9,500 Tax Credit!!

How would you like that?

So take advantage of this great offer as most people don't realize it's still out there!!

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Just-In-Time Loans - Mortgage Needs and Advice on Time. (757) 692-3464

My 2cents on REBarcamp Virginia Beach 2009

Justin Williams - Loan Officer (Prosperity Mortgage) — Sun, 19 Jul 2009 15:57:08 -0500

My 2cents on REBarcamp

Well I recently had the honor to actually attend a REBarcamp event here locally in Virginia Beach. Thank you so much to Tina Meritt and the rest of the volunteers that has helped make this happen.

I have to admit I was a bit jealous witnessing all the Tweets, Blogs and buzz around the other REBarcamps across the country and I never would of thought of a major event like this will show up in little ole podunk Virginia Beach :-)

We really had some great support for Sponsorships, Volunteers and attendees to make this amazing event a huge success!!

I was honored to meet some of the Real Estate rockstars out there like Ben Martin, Bill Lubin, the Zebra, Brad Carroll and many others. It really is a great event to hang out with all the people you normally chat with online on Twitter, Facebook or even here on Activerain.

Well I put together a small tribute video on here and I hope you get a taste on what we experienced down here, looking forward to see everyone in the future!!

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As always thanks for checking out my blog, feel free to leave a comment and have a great day!

Just-In-Time's Word on the Web

May is National High Blood Pressure Month

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 20 May 2009 22:51:05 -0500

May is National High Blood Pressure Month

Almost one-third of people with high blood pressure don’t even realize they have this potentially dangerous condition. In fact, most people have high blood pressure for years going unnoticed.

Having High Blood Pressure is often called the "Silent Killer" which can lead to:

Stroke
Heart Attack
Heart Failure
Kidney Failure

This is why May is awareness month for High Blood Pressure. The only way to find out if you have High Blood Pressure is to get tested in a doctor's or dentist's office, hospital clinic, school, nurse's office, company clinic or at a health fair.

So go get checked out before it's too late. Stay Safe & Healthy!

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Just-In-Time Loans - Mortgage Needs and Advice on Time. (757) 692-3464

Keep It Super Simple - Mortgage Grammar 101

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 13 May 2009 23:18:24 -0500

Keep It Super Simple K.I.S.S

Sometimes we get caught up in our craft that we tend to forget our clients are not familiar with our short jargon or abbreviated sayings.

Nobody wants to feel they are being talked downed to making them feel dumb or clueless on the words and sayings we use on an everyday basis.

There is an effective saying in life and that is to keep everything super simple or K.I.S.S. The home buying process can already be scary and confusing in itself and we don't need to add to already what they are feeling.

Our job is to make the client feel very comfortable and ease the home buying process for them so below are some common terms a client might hear but may not know the meaning to.

LTV (Loan To Value) - a percentage calculated by dividing the amount borrowed by the price or appraised value of the home to be purchased; the higher the LTV, the less cash a borrower is required to pay as down payment.

DTI (Debt To Income Ratio) - a comparison or ratio of gross income to housing and non-housing expenses

PMI (Private Mortgage Insurance) - insurance purchased by a buyer to protect the lender in the event of default. The cost of mortgage insurance is usually added to the monthly payment.

GFE (Good Faith Estimate) - an estimate of all closing fees including pre-paid and escrow items as well as lender charges; must be given to the borrower within three days after submission of a loan application.

FHA (Federal Housing Administration) - established in 1934 to advance home-ownership opportunities for all Americans; assists home-buyers by providing mortgage insurance to lenders to cover most losses that may occur when a borrower defaults; this encourages lenders to make loans to borrowers who might not qualify for conventional mortgages.

FICO (Fair Isaac Corporation) - FICO is an abbreviation for Fair Isaac Corporation and refers to a person's credit score based on credit history. Lenders and credit card companies use the number to decide if the person is likely to pay his or her bills. A credit score is evaluated using information from the three major credit bureaus and is usually between 300 and 850.

HUD1 (Settlement or Closing Statement) - it itemizes all closing costs; must be given to the borrower at or before closing. Items that appear on the statement include real estate commissions, loan fees, points, and escrow amounts.

LOX (Letter of Explanation) - A letter of explanation is often times needed by the lender to help clarify and solidify an understanding of the issue in question.

HELOC (Home Equity Line of Credit) - a mortgage loan, usually in second mortgage, allowing a borrower to obtain cash against the equity of a home, up to a predetermined amount.

ARM (Adjustable Rate Mortgage) - a mortgage loan that does not have a fixed interest rate. During the life of the loan the interest rate will change based on the index rate.

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May Is Asian Pacific American Heritage Month

Justin Williams - Loan Officer (Prosperity Mortgage) — Thu, 07 May 2009 20:09:01 -0500

May Is Asian Pacific American Heritage Month

Not many people know about May being Asian Pacific American Heritage Month (APAHM) even I didn't know until some one told me last week.

Well here's to being cultured and learning...

The whole month of May is to commemorate the contributions of people of Asian and Pacific Islander descent in the United States.

Congress passed this even in 1978 to coincide with the anniversary dates of the first Japanese immigrants in America on May 7, 1843 and the completion of the transcontinental railroad (by many Chinese laborers) on May 10, 1869.

In 1990 Congress voted to expand it from a week to a month long celebration and in May 1992, the month of May was permanently designated as “Asian/Pacific American Heritage Month.

Culture

I have always been a firm believer of learning from all cultures of the world because we just make up a small portion of the world and there are many types of cultures out there to learn and enjoy.

I myself fall under the "Pacific Islander" category for my Mom is Filipino and my Dad is Caucasian.

So it's interesting to hear that many people around the U.S are celebrating this month.

http://news.google.com/nwshp?hl=en&tab=wn&q=Asian%20Pacific%20American%20Heritage%20Month

I hope some of you have learned something today and maybe take part in expanding awareness and culture, Cheers everyone and have a fantastic month!!

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No Equity? Bad Credit? Refinance FHA Streamline Your Mortgage

Justin Williams - Loan Officer (Prosperity Mortgage) — Mon, 04 May 2009 23:53:09 -0500

Don't Be Quick To Turndown a Loan

Just last week a client was referred to me by reading one of my blog posts. The reason he was searching for a local lender is because he tried to get approved in refinancing his mortgage from an 8% rate. The lender he tried to go with did not even bother calling the client back after pulling his credit. This is a sign that usually the client had qualifications lower than the minimum and the loan officer decided not to call the client back.

However, I work with the client till the end even if they don't qualify now, I will try to find a way to help them work on their credit or finances so they can be ready down the road. Customer for life and not a customer for right now as I always say. So when working with the client I have came to find out that he had scores under 550 but also had a FHA loan insured. Under FHA Streamline guidelines I was able to refinance my client with...

1.) No Appraisal Necessary

2.) No Credit Check

3.) No Income/Assets Check

This is a great way to lower your rate and payment even if you are upside down in equity, having trouble verifying income or even having trouble with low fico scores. Below are the guidelines for a FHA Streamline Refinance. More information via HUD on the FHA streamline can be found here.

The mortgage to be refinanced must already be FHA insured.
The mortgage to be refinanced should be current (not delinquent).
The refinance is to result in a lowering of the borrower's monthly principal and interest payments.
No cash may be taken out on mortgages refinanced using the streamline refinance process.

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Show Some Love Today For Administrative Professionals' Day

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 22 Apr 2009 12:52:18 -0500

Show Your Appreciation on Administrative Professionals' Day

Not to hinder off of Earth day today but today is the National Administrative Professionals' Day or formerly known as Secretary Day.

This day is to recognize the work of secretaries, administrative assistants, receptionists, and other administrative support professionals. This includes your processors and loan closer guys!

These people are the backbone of our business and they work hard in keeping the process in line which in turns makes us more successful. Without them, your team will not function.

Take this time to show your appreciation and recognition in the work these hard working professionals do that sometimes might get overlooked.

A simple e-card or a thank you can really make someones day. I just sent out 3 e-cards today and I can't tell you how much they appreciated the simple gesture!

So Happy Administrative Professionals' Day Everyone!!!

Perception Is Key In Delivering Successful Results

Justin Williams - Loan Officer (Prosperity Mortgage) — Mon, 13 Apr 2009 18:23:22 -0500

Do you see a Old Woman or a Young Woman in this picture?

Many of you have seen this picture before and there is no right or wrong answer. We see what we want to see or believe. Both women are actually shown here and it's up to you whether you want it to be a Young Woman, Old Woman or both.

I think, Therefore I am........

I have done a couple presentations these past few weeks and when talking about Technology and Change, some recipients tend to speak like this

"I am too old for this kind of stuff"

"I am not just cut out for this kinds of stuff"

"I just don't have time for this stuff"

"This is useless because the market still sucks regardless if I do this or not"

The mind is a powerful motivator....

You know for the people who complain and become stubborn in their ways, that's fine, its not their fault. They have embedded in their heads they are this way and they made the decision themselves not to embrace change.

If you think you will fail...then you will fail.

If you think you are old....then you are old.

If you think you have no time....then you have no time.

The Success relies on re-routing your Brain

If you want to become successful then re-wire your brain to not just settle with failing results but to see yourself with AMAZING successful results, whether how far and how unlikely it may be at the time.

It doesn't matter if it seems far-fetched, the very FIRST step my friends is to picture yourself successful and success will surely follow.

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VA Mortgage 4% Seller Concession & Closing Cost Assistance Clarification

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 08 Apr 2009 21:45:38 -0500

Photo Credit : Randy Son of Robert's

There seems to be a lot of confusion with Seller Concessions and Seller Assistance with VA mortgages, mainly due to the FHA guidelines which is another government loan. However, these 2 loan programs are very different and heres why.

4% VA Seller Concession

VA Mortgages has a limit of 4% of the Appraised Value that the seller can contribute to a buyer on a VA

purchase without it being considered excessive.

For VA purposes, a seller concession is defined as anything of value added to the transaction which the buyer pays no additional amount and which the seller is not customarily expected to pay.

Some examples of concessions include seller payment of the following:

• buyer’s funding fee

• buyer’s prepaids (Taxes and Insurance)

• gifts, such as television, appliances

• temporary buydown fees

• buyer's debts

Buyer's Debts

Buyer's debts can be included to be paid by the seller if the Seller wishes but counts towards the 4% cap. Keep in mind that in a buyers market where the seller's agree to pay for all closing costs & pre-paids, your pre-paids can eat your concession up to 2% out of the 4% cap. Be sure to calculate that into your estimate.

Buyer's debts are NOT ADDED to the loan. No relvoving debts (i.e Credit cards)

Seller Closing Cost Assistance

The seller can agree to pay for all the following in FULL and there is NO CAP on how much they can pay off below:

• Non Re-curring closing costs

• Discount Points

The difference between VA & FHA

Unlike FHA loans where the closing costs & pre-paids are capped at 6%....

VA loans have no cap on the seller paying for closing costs (Lender Fees & Settlement Fees) but does have a 4% cap for pre-paids(Taxes & Insurance)

I hope this clears up any confusion out there!

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Just-In-Time Loans - Mortgage Needs and Advice on Time. (757) 692-3464

1 Year Anniversary With ActiveRain

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 01 Apr 2009 20:47:11 -0500

ActiveRain 1 year ago March 2008

First of all I understand it's April 1st and I assure you it's not an April's Fool Joke. I didn't even realize it has been one year until Karen Parsens commented on my blog bringing it to my attention, thank you Karen.

I don't want to make this prolonged or mushy so I will get right to it.

March 2008 I first blogged on ActiveRain and ActiveRain like many other Real Estate professionals on here was my first Blogging Experience aside from Myspace. It's funny I was preaching to other Real Estate professionals about ActiveRain when I was in a marketing firm but I never really tried it out myself.

I eventually got back in my roots which was in the Mortgage World where I took 1 year break due to my old company falling apart. I was happy and excited to be back in the business and ActiveRain was calling my name. What intrigued me to AR was the helpful and outstanding community members they boast about and the fact where blogging is made super easy and welcoming here.

I believe these elements have made ActiveRain very successful. The adversity of getting all my contacts and presence out there became really streamlined and simple with the help of ActiveRain. I really enjoyed learning from other professionals on here and developed some strong Online Branding skills, especially with blogging.

Looking Back and Moving Forward

Looking back on this journey I learned so much, met so many great and interesting people and have grown internally and externally. I would be lying to say it was not a tough year last year but ActiveRain was a valuable tool in my journey.

I thank all of you for giving me my 11 Featured Blog Posts

I thank all of you for having 94 Subscribers to my Blog

I had fun in 2008, I was getting my feet wet and now I am looking forward to 2009....I am hitting the ground running and look out world, I am ready to succeed!

Thanks again ActiveRain!

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As always thanks for checking out my blog, feel free to leave a comment and have a great day!

Just-In-Time's 1 year with ActiveRain!

Earth Hour 2009 Reminder March 28th 8:30-9:30PM

Justin Williams - Loan Officer (Prosperity Mortgage) — Sat, 28 Mar 2009 10:44:10 -0500

Earth Hour 2009 March 28th

This is a reminder that tonight Earth Hour invites one billion people in more than 2800 cities representing 83 countries to turn off their lights for one hour – tonight, Saturday, March 28 from 8:30pm to 9:30pm in their local time zone.

All you have to do to Vote Earth is turn your lights out for one hour tonight, Saturday, March 28 from 8:30pm to 9:30pm local time, in your city. Your light switch is your vote!

Earth Hour is about more than dimming lights for sixty minutes; it’s about making a commitment to reduce energy consumption throughout the year.

So I got to thinking what ways can I help conserve energy that a normal person who is in a business can do below are a few tips to consider.

Turn off your office lights even if your broker/manager pays for it, its still a waste to keep it on.
Turn on your energy management on your computer which can result in saving hundreds each year.
Use long lasting light bulbs. They may be a bit more expensive but they last longer than regular light bulbs which ultimately help save you money in the long run.

Whatever you do to help is great and I hope to see you join me in Earth Hour!!

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As always thanks for checking out my blog, feel free to leave a comment and have a great day!

Just-In-Time's Word on the Web

7 Texting Tips Etiquette

Justin Williams - Loan Officer (Prosperity Mortgage) — Fri, 27 Mar 2009 15:34:52 -0500

photo credit: Nesster

7 Texting Tips Etiquette

It seems that a majority of us have and regularly "Text Message" on a cell phone. Texting is a great tool to use because its fast and convenient to use on the fly. If you ever need to get a hold of someone who seems to not be picking up the call or is quite busy in a meeting, try texting the person to grab their attention. Chances are the person on the receiving end might find texting you back more convenient than call you back at the moment.

However, there are some things to consider when Texting, whether its Business or Personal. Below are 7 simple but effective tips to consider.

Ask Permission. Don't be too hasty when texting your client. Not everyone out there will have a Text service where they have unlimited texts. They might have a cap on Text Messages they receive or even get charged per text, rule of thumb here is to first ask permission if it's ok to text. You don't want to lose a client because you racked up hundreds of dollars because of texting.

Keep it professional. Don't pass on Chain Text messages, don't send silly and pointless texts. Nobody likes a spammer and you want to keep your client as a professional relationship because you never know if they will get offended or turned off. Rule of thumb, keep it professional.

Don't use slang. When texting it can be very easy to get caught up in using slang like "O.M.G" or "T.T.Y.L" again these are your clients and not your friends and family. Treat your clients with respect and the professionalism they deserve.

Don't just rely on texting. Although texting is super convenient and a great multi-task friend, you don't want to lose that personal touch with your client. Don't forget to drop your client a phone call or in person. Even if its just to say hi, you don't want to lose your human side of the transaction.

Avoid “text yell.” Remember that when you text in all caps the receiver might view that as you yelling. I know how sometimes its easier to have your cap lock on but be mindful when it's your client, don't text yell.

Respect privacy. Keep in mind when texting to not pass on sensitive and private information like a social security number. Make sure you are on a secured network like a company e-mail but be careful when texting because hackers have an easier target on phone networks.

Focus on driving. Practice cell phone responsibility while driving. Don’t text while driving in heavy traffic, hazardous driving conditions or better yet driving at all. Hundreds die each year due to careless accidents like this. Text when your vehicle is not moving, and use a hands-free device to help focus attention on safety.

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As always thanks for checking out my blog, feel free to leave a comment and have a great day!

Just-In-Time's Word on the Web

FHA 203k Rehab Loan Quick Tip: Utilities Being Turned On At Closing

Justin Williams - Loan Officer (Prosperity Mortgage) — Tue, 24 Mar 2009 20:27:39 -0500

FHA 203k Rehab Loan Quick Tip: Utilities Being Turned On At Closing

Most Conventional loans including Conventional 203k Rehab/Renovation loans require from the lender to have all the utilities on and fully working at the time of closing.

FHA Loans and FHA 203k Loans are a differen't beast however and doesn't fall into this myth....

At the time of closing, if the 203k loan is running behind or is not set up to have all the utilities to be turned on there is a solution. You can increase your contingency reserves in order cover the utilities not being turned on at closing thus preventing loan closing delays!

So the answer is: You DO NOT have to have utilities turned on at closing in order to close!

**Please Note - The Reserves can be financed in the loan increasing the rennovation costs by 10% to cover this**

This is a great myth buster because as with any Rehab loan out there, there could be houses that are not in the perfect shape where all the utilities are in working order and thus need this option in order to prevent loan delays.

For more information on 203k loans please refer to my previous post or call me anytime.

Remember, not all Mortgage Professionals offer 203k Loans. Consult with a Renovation Specialist who can guide you through the decision in Streamline vs Full Renovation. By the way...I offer both :)

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Just-In-Time Loans - Mortgage Needs and Advice on Time. (757-692-3464)

Congratulations David Stevens on being appointed as the NEW FHA commissioner for HUD!!

Justin Williams - Loan Officer (Prosperity Mortgage) — Tue, 24 Mar 2009 13:08:17 -0500

David H. Stevens

It gives me great pleasure to congratulate David Stevens on his recent appointment from President Obama to head up the FHA Administration. (Washington Post Article)

Even though its not official until the Senate approves the final vote, I am very excited because of Two reasons.

1st of all if elected, Mr. Stevens will be the only the only FHA commissioner to have a strong background in Mortgages and Real Estate.

2nd of all Mr. Stevens was the president of my company (Prosperity Mortgage a joint venture of Wells Fargo and Long & Foster Realty), he was also a former president of Freddie Mac and currently he is the president of Long & Foster Realty.

So not only does he have the background and mindset from a Mortgage standpoint, he has the knowledge and mindset from a Real Estate agent standpoint! How awesome is this?

David Stevens is also a current Activerain member, although he has erased most of his previous posts because he transferred them over to his outside blog where he focuses most of his content now.

I have personally met with David Stevens when he came down to my office and witnessed his great presentation skills and knowledge. He is truly an extremely smart individual who knows his stuff and has the vision of making our marketplace a better place for all.

So here is hoping you get the job David and Good Luck & Best Success to you my friend!

Cut-Throat Sales or Selling from the Heart?

Justin Williams - Loan Officer (Prosperity Mortgage) — Mon, 23 Mar 2009 17:41:56 -0500

What is Cut-Throat?

No, I am not referring to the act of Murder...I am referring to the definition of Cut-throat Sales & Competition.

Cut-Throat is the act of being relentless or merciless in competition or sales. It's doing whatever it takes even if its to throw your competitors under the boss and getting that sale or winning the competition. Its the act of throwing out all the rules regardless if its ethical or not.

Cut-Throat should not be confused with being competitive or having a strong passion in your business. Ultimately, most successful business people are highly competitive and have a high desire to succeed. There is nothing wrong in striving to be at the top of your game and being competitive.

Just Plain Wrong

So I am writing this post because I have been engaged with a very cut-throat fellow mortgage professional. I will call this guy "Bob" just for this story. Over the past few months Bob has been one of my biggest competitors.

I would do quotes for this certain members only area we both have memberships too and he would follow on top with some sort of slander or unethical behavior which made Bob look good and me looking like a shady used car salesman.

I would just ignore the comments and proceed just being me, staying focused on my morals and letting my financial numbers and expertise speak for itself.

This of course infuriated Bob because he felt threatened that he had to stoop to levels that are way unethical and even to the point of harassment.

Selling from the Heart

Over the past few months, I have stuck to my guns and offered true numbers and incentives. Bob was apparently bait-and-switching numbers, offering products he didn't have, putting down the other competition and saying false rumors and the list goes on.

I have always been told if you sell from your heart, your business will stay alive and your pockets will never go lonely. I am happy to say this is very true indeed.

Last week, Bob was fired from my membership area and all the customers he have ticked off are now all coming to me. Staying true to yourself and not stooping low as your competitor will pay off I am happy to say.

For all those people under pressure to give in and make that quick buck, I urge you to stick with your guns and sell from your heart. Don't stray to the unethical side because it will eventually catch-up, if not now, soon.

A Good Cause in Social Media - Please Help Us Help Daniela's Family - Organized by David Armano

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 07 Jan 2009 00:02:08 -0600

Please Help Us Help Daniela's Family

Twitter has been many things...A micro blog, A quick instant messenger, a networking tool, a business tool and also a good communication tool to spread awareness. This is what has happened in the web 2.0 community on the spread of the Daniela family.

A fellow blogger and tweeter David Armano had this to say below...via blog

""I've been at this blog for nearly 3 years now and have never asked for something like this—I hope I've earned enough trust to be able to ask something back from you. Above is a picture of Daniela and her family. Brandon, age 6, Daniela, age 9 and little Evelyn age 4. Daniela recently divorced her husband after years of physical abuse. In recent years her mortgage went unpaid and she's lost her house.

As of this moment, Daniela's family is staying at our house and we are trying to help her find a one bedroom apartment for her family to live in. With Evelyn, her youngest having Down's Syndrome and Daniela herself being a Romanian immigrant with very little family support she literally has no one to turn to. Except us (all of us).

Daniela cleans houses when she can leave her family. I'm not even going to tell you what she gets paid—it's obscene. Right now her options are pretty limited, aside from an apartment, there is only a group shelter. Not very pretty.

Here's what we are asking. Right now, Belinda and I are opening our home, but it's tight as we have no basement. We've committed to giving as much as we can spare, diverting funds from other places. I'm asking if you could think about doing the same. Or at the very least, helping get the word out about this. We are looking to raise 5k for Daniela and her family. Enough so that she doesn't have to worry about a deposit or rent for a while.""

I know this is the worst possible time to ask for anything. But would you consider the following:

1. Giving whatever you can ("Chip in" uses Pay Pal and it's very easy to donate and it's secure)
2. Spread the word. Please, please blog this, tweet this, re-tweet this.
3. Help find a donor (maybe a generous company or individual)

As a financial expert in the mortgage field I have seen many cases where people could not afford their house all too well but what hit me the most is this blogger has reached out to ask for help from the web 2.0 community who mostly do not know this family are helping in a time of age where most families are struggling with their own finances.

Even though the original goal was for $5,000 as you can see we have succeeded but there is still plenty of time left and lots more to help to Feb 5th 2009.

This has opened my eyes and lifted my heart and I have chipped in and want to pass this on.

*Update This is amazing and the power of social media * We raised over 9k in donations in under 4 hrs!!!

Google's New Year's Gift Pagerank Updated

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 31 Dec 2008 07:13:23 -0600

Google has updated their Pagerank on December 30th right before New Year's. Consider this a New Year's Eve present!

Word on the web had rumors stirring that Pagerank was going to be updated before Christmas Day but Google once again fooled us making this Pagerank Update the longest it has been since 2003.

Google Pagerank usually updates every 3 months. Pagerank is a measuring tool from 0-10 (10 being the Best) that is used to measure Reputation and Content.

The controversy is that some webheads don't feel Pagerank is worth it, but wouldn't you want to have a high Pagerank anyways?

Below are my sites that have changed.

Activerain Blog - http://activerain.com/jwilliams - Went from PR2 to PR3 YAY!

My New Outside Blog - http://virginiamortgageloan411.wordpress.com - Went from PR0 to PR2 (Opened in September 2008)

My Personal Site - http://socialmediavision.com - Went from PR0 to PR3 (opened in November 2008)

To check your Pagerank go to http://www.prchecker.info

Any of yours changed?

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Twas The Night Before Christmas ActiveRain Style

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 24 Dec 2008 12:32:37 -0600

Twas the night before Christmas, when all through the Activerain

Not a Blogger was stirring, so hard to explain.

The new posts were posted, in the channels with care.

In hopes that a Gold Star, would soon be there.

The bloggers were Twittering with Tweets that soon spread.,

While visions of new clients danced in their heads.

Commenting on fellow rainers blogs for the cheery night.

Not stopping at the 10 comment limit because that is not right.

Posting that last minute listing with tremendous care.

Hoping to not miss anything not even a ft square.

Rushing to say good tidings on your Merry Facebook

Clicking on your new friend's pictures deciding to take a look.

Time to turn off the power, nothing more to write.

"Happy Holidays to all, and to all a good-night!"

FHA Spot Condo Approvals

Justin Williams - Loan Officer (Prosperity Mortgage) — Sat, 08 Nov 2008 13:36:18 -0600

(Spot The Target Dog)

FHA-approved condominium projects

When buying a Condo that requires FHA financing, the condo must meet certain strict requirements in qualifying for the Government Based FHA loan product.

The Standard Rule is that the Condominium Project must adhere to at least having 51% of the owners being owner-occupied in order to qualify for FHA financing.

Now if the Condo Project is just being built and has many stages of being built in the future then you can exception in Stage Development that requires case by case approval.

https://entp.hud.gov/idapp/html/condlook.cfm

Condos that are not approved

So what happens to the Condos that are not approved, can you still get FHA financing for them?

Just because the condo project is not on the approved list does not mean they are never to be approved. Verify with the Condo Association to see if 1st they have over 51% owner-occupied then have the lender put in the necessary paperwork to get approved.

Be aware this process may take up to 6 months!!

FHA Spot Condo Approvals

So what if there is a condo project with less than 30 units?

I just had a client looking to buy a condo with only 5 units in the association. We could still do the FHA financing if there is at least 20% of the owners who have an FHA financing already.

This approval process is considered Spot FHA Condo Approval.

It is really cool because we only needed 1 owner with a FHA loan and we didn't need to submit the paperwork to get this association approved because there is less than 30 units in this Association.

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Just-In-Time Loans - Mortgage Needs and Advice on Time. (757) 692-3464

7 Tips On How Not To Use Twitter For Your Business

Justin Williams - Loan Officer (Prosperity Mortgage) — Sat, 01 Nov 2008 11:12:44 -0500

How Not To Use Twitter For Your Business

Twitter is a great FREE ONLINE TOOL for your business and with the correct formula, it could spell success like I have shown here.

Twitter is a place to gain EXPOSURE and PROVIDE COMMUNICATION CHANNELS to develop real time networking referrals.

Twitter can be a waste of time if not properly used.

Below are 7 tips on how not to use Twitter for your business.

Auto Feeders

Activerain has a great Auto Feeder for all our blogs, this can be a great tool if used properly. If you have a profile and there is nothing but BLOGS POSTED TWEETS from your Auto Feeder, then your Twitter account is wasting space.

Do not just set up a profile to just send Blog Posted Tweets to your Twitter account. 1st of all its tacky and people want to ENGAGE you in conversations not just view Blog Posted Tweets. You will be unfollowed quickly if you do this.

Spam Follow

Twitter is not a POPULARITY CONTEST. Spamming followers just so you can hope they follow you is 1st of all against the rules of Twitter and 2nd of all is again a WASTE OF TWITTER SPACE.

Follow your niche and your target market. Good rule of thumb is follow your own pack in your own field to get a good jump start.

If you are an Investor follow fellow Investors, A Real Estate Agent follow fellow Agents. Then go after your target audience. Focus on Area, Gender, Age, Interests or whatever is in your Market.

Use the Twitter Search Tool effectively and if your Audience is limited to EVERYONE then follow sporadically and in spurts but always focus on your categories first.

Spam Advertising

Nobody likes being spam advertised even on Social Networks. Don't FORCE your products and services to people right from the get go. Great you made a Twitter account, slow down partner.

Take your time, develop relationships, make an online presence. Do not start spamming that is just another reason for people to stop following you and could possibly get you suspended from Twitter.

Too Many Tweets

Twitter is not a CHAT CLIENT, Do not treat Twitter as such.

Yes Twitter allows for instant broadcasts and communication but nothing turns off a Twitter user the most other than too many tweets at once.'

Don't start spamming Tweets. Twitter is a place to see general broadcasts every 15 minutes or so and not every second!

Dont' Spam Tweet!

Personal Prefences

The gold rule of online presence is watch what you say online. If you value your followers and want to reach a wide target audience then treat your Tweets with everyone's opinion in mind.

Recently the Elections have caused some heated opinions and debat but nobody want's to constantly hear touchy Tweets and will cause you to lose followers.

A notorious SEO tech guru recently lost half her audience just because she was just voicing her Angry views on a certain company she did not like. Well the flip side is that other company many people did like. See the problem here.

Tweet with respect, Use the Direct Message Tool if you really want to voice your opinion and not to the world.

Robot

To go hand in hand with the Auto Feeders, Don't be LAZY and use Auto Direct Messages and Auto Tweets.

There are websites out there like Tweetlater, that allows you to Auto respond to followers and Auto Tweet Later posts.

There is no human engagement value in this and the Twitter world is not stupid, it is very condoscending when you just reply in Auto Responders.

Don't be a Robot!

Twitter Whore

And Finally....Finally...Finally.

Just because Twitter's Motto is "What are you doing?" does not mean you should Tweet about everything you are doing.

Do not Tweet about you going to bathroom, waking up, eating breakfast etc etc..

just watch the video below. (just hover cursor over link)

http://www.youtube.com/watch?v=ALbH63Ali9U

Punctual Payment Program: A Worry Free FHA Loan Reimbursement

Justin Williams - Loan Officer (Prosperity Mortgage) — Wed, 29 Oct 2008 20:04:22 -0500

Punctual Payment Program: A Worry Free FHA Loan Reimbursement

Here is another option to FHA Alternatives to Down Payment Assistance programs that went away. I wrote a blog last week talking about the alternatives here

What is the Punctual Payment Program?

The Punctual Payment Program in a nutshell rewards home buyers in a reimbursement program for on-time payments.

The program is hosted by the Rainy Day Foundation that began in May 2006.

The website can be found here http://www.rainydayfoundation.org.

The fee for this program is $499.

How does the Punctual Payment Program work?

In a nutshell again for laymen terms. The program is designed to help strengthen "Loan Borrowing Potential", providing a "Worry Free Loan"

FHA loans now are capped at 97% Financing, which still require 3% down payment. If the client does not have the funds for down payment, FHA allows a gift from "Family or Friends"

Well most of the time when people ask for money from Family and Friends, they get a Big Fat "NO" or "Are you crazy" especially in this kind of market now.

Now, you can go up to your family/friends and say I will be enrolling in this re-imbursement program that will repay you back your money in 4-6 months.

The back bone of the program

Earn up to 3% contributed by the seller. Can be direct deposited into the borrower's account or the loaner's account.
The seller's contribution to be re-imbursed will go into an Escrow account maintained by the Rainy Day Foundation.
Seller or borrower can pay for the $499 fee (just like DPA's)

The Advantages of the program

Worry Free Loans
1 yr job loss coverage (benefit of $499 fee) - Event of loss job, coverage will be up to $1,800 per month for up to 6 months.
Pre-Purchase counseling
Post-Purchase Counseling
Missed Payment Protection - For as long as the borrower is enrolled the program will pay the loan servicer ANY MISSED payments. There is an outstanding ZERO first payment defaults ever!

Bottom Line is that this program provides an alternative way in finding assistance to Down Payment Problems, I hope you find this useful!

The Media Needs A Back To The Future Reality Check

Justin Williams - Loan Officer (Prosperity Mortgage) — Sun, 26 Oct 2008 16:43:58 -0500

The Media Needs A Back To The Future Reality Check

Lets compare the Great Depression to the present

Unemployment

25% were unemployed in the United States 60 yrs ago

Only 4-6% is the current unemployment rate

Banks in serious trouble

1 in 3 Banks were in serious trouble in the great depression

Only 1-2% of Banks are in serious trouble throughout the US

Stock Value

Over 60yrs ago The Stock Value lost 90% of its value

Just recently the The Stock Value lost only 40% of its value (But is almost back to normal now)

Hellooooo Mcflyyy, Wake Up Media, You need a Reality Check!

We are not in another Great Depression. Rescission, slow market maybe but not a Great Depression!

Stop telling the Nation, Banks are not lending loans now. That is insane. Guidelines may have tightened but people are still borrowing money and Banks are still lending them.

People are still buying and selling houses, I can't believe the media are saying that people are not buying houses now, serious Reality Check is in order.

Bad News and Hurtful news maybe more popular but come on. The truth is here, the market is always finding a way to correct itself and Real Estate will last forever.

In conclusion, Don't believe the hype. What do you think?

Veterans’ Benefits Improvement Act of 2008 Changes. VA Cash Out Refinance 100%.

Justin Williams - Loan Officer (Prosperity Mortgage) — Sat, 25 Oct 2008 17:58:07 -0500

Veterans’ Benefits Improvement Act of 2008 Changes

Recently, in VA Circular 26-08-19, the Veterans Administration (VA) announced several changes regarding loan guaranty provisions. President Bush Officially signed over the changes this month October 2008.

Major Improvements to the VA Program are below in layman terms ☺

The Veterans Benefits Act of 2008 includes four major housing provisions.

1.) Cash Out Refinances the bill increases the maximum LTV from 90% to 100%.

2.) The VA ARM and hybrid ARM programs are extended until 2012.

3.) The maximum guaranty amount of 175% of the Freddie Mac limit is extended to 2012. This makes the VA limit the highest in the marketplace compared to Fannie Mae, Freddie Mac and FHA. (This change increases the prospects for extending the mortgage limits in the Stimulus Bill prior to January 1st.)

4.) The bill also increases the maximum guaranty for refinances from $36,000 to the same guaranty for purchase transactions in a particular area.

The official Bill Circular is found HERE

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Just-In-Time Loans - Mortgage Needs and Advice on Time. (757) 692-3464