Lending and everything Midwest - Larry's blog

More Updates in Campton Hell....er Hills

Larry Bettag - Cherry Creek Mortgage — Wed, 16 Dec 2009 14:12:14 -0600

I receive this e-mail this morning from Sue Secondi, a distinguished member of the community who needs to be supported in her bid for political office. Sue is running for precinct committeeman. She'll be an awesome representative who want to protect their land, and their income in troubling times. Here's the most recent update from Sue. By the way....write her name down. Vote for Sue Secondi.

I wanted to let everyone know last night VCH banned video gaming within the Village. They got this one right!

I'm just not sure they would have voted on this last night had I not made a public comment at the December 1, 2009 meeting to asked them to place this on the agenda to vote.

Now the bad news, news we predicted was coming, Village Treasurer S. Beherns confirmed that based on the current revenue projections the village will be approximately $111,000 in the red at the end of the fiscal year (April 2010). (My comments....We've said from the get go that the Village would create a deficit and taxation is their way out of it.)

She promptly commented that she was working with staff on solutions to the short fall. I believe this deficit could be much greater once the actual fiscal revenue is stated.

At a minimum, this is a 7% reduction across the board. Since the bulk of the Village budget is the Police department, will that mean reduction in police officers, staff or in legal fees or an increase in citations to generate more money? (My comments....gee couldn't see that coming)

I think there should be a reduction in the police chief's salary when a new chief is hired, but at this time I do not have those details. The treasurer also stated that the revenue from tickets is currently at $56,000 which was approximately a 50% increase over last year.

Regarding Fox Mill, the village voted to confirm that they did not want to take ownership of the Public Open Space. President Smith stated that in the current condition the Forest Preserve, Campton Township and now the Village did not want ownership. As this open space is supposed to be for public use, the Village has been unsuccessful in finding a public body to take ownership, as a last resort Fox Mill HOA has agreed to take ownership of the land and pay for the repairs that are necessary. This would force a public hearing on the PUD change to allow this public open space to be privatized for Fox Mill residents only, and the HOA would assess the costs to repair the open spaces to each resident in the subdivision since they would have the ownership.

Finally the Village is holding a special meeting tomorrow night to possibly approve or at least vote on Norton Lakes Prelim plan approval, and to announce the new police chief.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

A Scottish Man Tells Donald Trump to Play with His Clubs Somewhere Else!

Larry Bettag - Cherry Creek Mortgage — Wed, 16 Dec 2009 09:09:12 -0600

Donald Trump fights Michael Forbes and looooooooooooses! Can't beat that with a stick. This is such a great thing. I guess "The Donald" is doing more than just Hair Creations for Men. Yes, the Donald has been busy buying up land in Scotland for his new "best" world class golf course. But.....one man has been standing in the way.

Evidently, Michael Forbes is a salmon fisherman born and raised in Scotland. Although Forbes' farm is in disrepair (according to the Trumpster), Forbes insists that it's just fine for the work he does. After all he's been there his entire life. Trump is none too pleased especially since he throws money out as much as he borrows it. For this salmon fisherman, being able to enjoy the land that he grew up on is more important than having some arrogant American trying to buy him off.

The issue???? Some of the locals want The Donald to succeed. Why???? Donald swears that an American Mega Course built in their backyard will mean that a lof of Scots will be landing new jobs. What a great idea for the local economy. Needless to say, life is not over for either property owner.

Donald says that the building is going up no matter what. They'll just build around the poor peasant's house. Eventually, Donald hopes to get Forbes' house condemned or something. It's reported that Forbes was offered $L450,000 pounds, plus an annual salary for $L50,000 doing whatever he basically wants to do.

Trump has even sent the little Trumps, playing good cop, bad cop on Michael, but to no avail. Kudos the Donald though. He is the epitome of "The perfect example of persistence."

For Forbes....the fight continues. As he puts it....No amount of Money is worth giving up the things that give peace to the heart. To take the money and live your life in regret is nothing short of selling out.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Pandora .... more than just a box!

Larry Bettag - Cherry Creek Mortgage — Tue, 15 Dec 2009 20:47:41 -0600

Here's the newest and latest twist on web radio. Pandora!!!!! Check out www.pandora.com. It's really cool. It's free. You can program all of your favorite artists and genres and it will play stuff that is very similar, but that you've never heard before. It's fairly easy to register and you get 40 hours of free listening each month.

After that, you just pay a nominal fee....like a buck or something.... You can search by artist, or by song.

My favorite thing is creating playlists. As you add your favorite songs or artists, Pandora will customize the list and make a smart player by creating your own "radio station" that is all about you. Very cool to say the least. Lots of fun!

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

foreclosure FILINGS down.......

Larry Bettag - Cherry Creek Mortgage — Mon, 14 Dec 2009 08:51:07 -0600

While foreclosures are up for the 2nd straight year, recent filings have gone down!!!! Let's hope that this is a sign of good things to come shortly....for those who are serious about doing well in this industry!

IRVINE, Calif. - Dec. 10, 2009 - RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), the leading online marketplace for foreclosure properties, today released its November 2009 U.S. Foreclosure Market Report^TM, which shows foreclosure filings - default notices, scheduled foreclosure auctions and bank repossessions - were reported on 306,627 U.S. properties during the month, a decrease of nearly 8 percent from the previous month but still up 18 percent from November 2008. The report also shows one in every 417 U.S. housing units received a foreclosure filing in November.

"November was the fourth straight month that U.S. foreclosure activity has declined after hitting an all-time high for our report in July, and November foreclosure activity was at the lowest level we've seen since February," said James J. Saccacio, chief executive officer of RealtyTrac. "Loan modifications and other foreclosure prevention efforts, along with the recently extended and expanded homebuyer tax credit, are keeping a lid on the most visible symptoms of the nation's ailing housing market - foreclosures and home value depreciation. This is providing a welcome respite for the real estate industry, but a full recovery will only come when unemployment recedes to normal, healthy levels and when availability of credit reaches a more rational balance between the extremes of the past few years."

Default notices nationwide were down 8 percent from the previous month but still up 22 percent from November 2008, scheduled foreclosure auctions were down 12 percent from the previous month but still up 32 percent from November 2008, and bank repossessions were flat from the previous month and down 2 percent from November 2008.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Speechless Sundays - Fall In Wisconsin

Larry Bettag - Cherry Creek Mortgage — Sun, 13 Dec 2009 22:26:07 -0600

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Foreclosures UP for a record 2nd year

Larry Bettag - Cherry Creek Mortgage — Sun, 13 Dec 2009 21:54:54 -0600

Dec. 10 (Bloomberg) -- Foreclosure filings in the U.S. will reach a record for the second consecutive year with 3.9 million notices sent to homeowners in default, RealtyTrac Inc. said.

This year's filings will surpass 2008's total of 3.2 million as record unemployment and price erosion batter the housing market, the Irvine, California-based company said.

"We are a long way from a recovery," John Quigley, economics professor at the University of California, Berkeley, said in an interview. "You can't start to see improvement in the housing market until after unemployment peaks."

Foreclosure filings exceeded 300,000 for the ninth straight month in November, RealtyTrac said today. A weak labor market and tight credit are "formidable headwinds" for the economy, Federal Reserve Chairman Ben S. Bernanke said in a Dec. 7 speech in Washington. The 7.2 million jobs lost since the recession began in December 2007 are the most of any postwar economic slump, Labor Department data show. Unemployment, at 10 percent last month, won't peak until the first quarter, Quigley said.

Through November, U.S. lenders had permanently modified about 31,000 of the 4 million mortgages targeted for relief by the Obama administration's foreclosure prevention plan. That's less than 5 percent of eligible loans, the Treasury Department said today.

Loan-modification programs and an expanded government tax credit for first-time homebuyers are helping slow the monthly pace of foreclosure filings and "keeping a lid" on further property seizures, James Saccacio, RealtyTrac's chief executive officer, said in the statement.

November filings fell 15 percent from the July peak and dropped 8 percent from October, the seller of default data said. That was the fourth straight monthly drop.

Late Payments

A total of 306,627 properties received a default or auction notice or were seized by banks last month, or one in 417 U.S. households, and a similar number are expected for December, RealtyTrac said.

There have been 3.6 million filings from January through November, the most in RealtyTrac records dating to January 2005.

Three loans went bad for every one that improved in the first 10 months of this year, according to a Dec. 2 report from Lender Processing Services Inc.

The combined delinquency and foreclosure rate for all loans increased to 12.6 percent through October, the Jacksonville, Florida-based loan servicing and mortgage data company said.

Fewer than 1.5 million homeowners -- or less than half of those targeted -- were eligible as of last month for Obama's Home Affordable Modification Program, Herb Allison, Treasury assistant secretary for financial stability, said in Dec. 8 congressional testimony. More than 697,000 trial modifications had been started through November, Treasury said today.

Loan Modifications Fail

"Federal programs have not been successful and have done little about declining asset values," Quigley said. "The probability that a renegotiated mortgage goes into subsequent default is substantially high."

Nevada had the highest foreclosure rate for the 35th consecutive month, with one in 119 households receiving a filing in November. Total filings dropped 33 percent from both a year earlier and the previous month, to 9,295.

Florida ranked second, with filings for one in every 165 households. California was third, at one in 180, RealtyTrac said.

Arizona, Idaho, Michigan, Illinois, Utah, Maryland and New Jersey rounded out the 10 highest foreclosure rates.

California had the most filings with 73,995, up 22 percent from a year earlier. Foreclosure notices in the most populous state have fallen on a monthly basis since peaking in July, according to RealtyTrac.

Florida had 52,935 filings, up 8 percent from November 2008 and 2 percent from the previous month.

State Data

Illinois was third with 16,422 filings, more than double a year earlier. They fell 18 percent from a record high in October.

Michigan ranked fourth with 15,988, up 10 percent from a year earlier. Arizona, Texas, Ohio, Georgia, Nevada and New Jersey completed the 10 states with the most filings, RealtyTrac said.

Filings rose 65 percent from a year earlier to 9,227 in New Jersey. They dropped 3.7 percent to 2,114 in Connecticut, and jumped 69 percent to 4,401 in New York.

Three California cities had the highest foreclosure rates among metropolitan areas with populations of 200,000 or more. Merced led, with one in every 83 households there getting a notice, five times the national average. Stockton was second at one in 85, and Modesto was third at one in 87.

Cape Coral-Fort Myers, Florida, was fourth with one in 96 households receiving a notice, and Las Vegas was fifth at one in 102, according to RealtyTrac.

Riverside-San Bernardino and Bakersfield, both in California, ranked sixth and seventh; Orlando-Kissimmee, Florida, was eighth; Vallejo-Fairfield, California, ranked ninth; and Sacramento came in 10th, said RealtyTrac, which sells default data collected from more than 2,200 counties representing 90 percent of the U.S. population.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Wordless Wednesdays - Static Pleasure!!!!

Larry Bettag - Cherry Creek Mortgage — Wed, 09 Dec 2009 23:04:17 -0600

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Finally Broke my 50th Referral on Active Rain

Larry Bettag - Cherry Creek Mortgage — Mon, 07 Dec 2009 23:58:57 -0600

You know....when I started on Active Rain it took me almost 100,000 points to get to receiving my first referral. After the dam broke, it seemed like I had been getting referrals every week. Then, this past summer, I kinda slid. Sure I wrote posts, but they weren't from my heart. They weren't frequent and quite honestly, the referrals just kinda dried up a bit. At the end of the summer, I buckled down. Now I post as often as I can provided that I'm not spending all day or all week travelling all over hell and gone!

Then back on November 17th, I wrote another post entitled Active Rain....I need just one more Active Rain Referral....to hit 50!. Again....I hadn't had much of anything for three weeks and then, this morning two at the same time. The first was a call that I received off of a google search. The guy was going through a divorce and wanted me to help him get him refinanced. I'm not sure that it will amount to much because of some of this guy's particular's. But hey, it was number 50!!!!! Finally.

The second referral came today at 11:12 am through an Active Rain e-mail. The lady and her husband were having issues with Bank of America (gee, that's a shocker, but alas, I digress) and they wanted someone they could trust. So they scoured the internet and they found me. Then they searched me on the internet and found that they felt comfortable enough to move forward with me.

What's neat is this:

Because I have so many posts out there, it's a matter of time until the right people who are supposed to work with you, actually work with you;
After they find you, if you have a lot of Active Rain posts out there, they can get your temperment, personality and qualifications.

Bottom line is this....

They found me
They found me through Active Rain
I have referral number 50 and 51 as a result of that;
They'll be happy with my service (or so I feel confident of saying that);
I'll like working with them;
Active Rain brought us together

How cool is that? Pretty Darn Cool if you ask me! Just grateful to once again, being dancing in the rain!

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Asbestos, Your Health and Going Green!

Larry Bettag - Cherry Creek Mortgage — Mon, 07 Dec 2009 16:18:58 -0600

Healthy Home Tips & Green Alternatives for Homeowners

The home buying process is an exciting time, but one that may bring additional responsibilities into your life. Many homes may need renovations or inspections, especially in areas that are susceptible to natural disasters. Having the assistance of an experienced and honest real estate agent will make this process smooth and stress free.

Some older homes may still contain obsolete building materials. Citizens of this great state are striving to move to a green lifestyle, advocating environmentally sustainable methods to be used throughout the state. Building or remodeling your homes with eco-friendly materials can lower utility and water bills, higher real estate value, purer air quality, reduced waste sent to landfills and conservation of natural resources.

Asbestos + Healthy Tips

Asbestos is a fibrous mineral that was used in construction applications for the greater part of the 20^th century. Often appearing as insulation, piping, roofing and flooring, homes and buildings could still contain asbestos materials if they were built prior to 1980.

If you locate any suspected asbestos in the home, most experts suggest leaving it un-disturbed until a home inspector can examine your property, take evaluations and determine the safest course of action. Sometimes the best action is no action at all. Disturbing asbestos in good condition may cause its fibers to be released into the air. The removal of asbestos must be undertaken by a professional abatement contractor who is trained in handling dangerous materials.

Exposure to this material can lead to the development of mesothelioma, a lung ailment associated with asbestos exposure. Though a cure does not exist, mesothelioma treatment options such as radiation, chemotherapy and surgery may be available to patients to battle the disease. Mesothelioma compensation has become tough to predict for victims and their families because diagnosis can take 20-50 years. For this reason, many people refer to it as a silent killer.

Removal of asbestos in public facilities, workplaces and homes should be performed by licensed abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants (NESHAP) are not violated. They must wear protective equipment such as masks and gloves to avoid any exposure. The materials should be removed in as large pieces as possible and places in disposable bags.

Green Building Benefits

Each and every human being would like clean air to breathe and crisp water to drink. It takes a lot of effort and political advocacy to achieve this on a macro level. The implementation of eco-construction, green energy solutions will play an important role in the transformation to a healthier and sustainable world. Many locations throughout Alabama are swiftly changing their construction practices to suit the environment and the health of human beings.

There are many green, eco-friendly materials that replace the need for asbestos and can reduce energy costs annually. These include the use of cotton fiber, lcynene foam and cellulose. Cotton fiber is quickly becoming a favorite for home builders and renovators. Made from recycled batted material, it is also treated to be fireproof. Research has demonstrated that the use of eco-friendly insulation alternatives can reduce annual energy costs by 25 percent.

Implementing green methods of building can have positive environmental, health and economic benefits. These include: Conservation of natural resources, enhancement of air quality, energy sustainability, increase property value, improve quality of life, improvement of pulmonary/cardiac health and reduction of waste.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Speechless Sunday - Family of 40 for Thanksgiving!

Larry Bettag - Cherry Creek Mortgage — Sun, 06 Dec 2009 15:43:14 -0600

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Watch Out For Campton Hills

Larry Bettag - Cherry Creek Mortgage — Tue, 01 Dec 2009 17:32:40 -0600

Tonight at the Village Board meeting:

XII. Discussion and consideration of a motion to adopt an Ordinance amending the Zoning Ordinance relative to PUDs.

This may look harmless enough, but I was told by someone who actually picked up the ordinance that one of the changes is to exclude Horse Farms and home based businesses from being allowed in existing PUDs, unless your Covenants specifically allow Horse Farms and Home Based Business.

Talk about a blow to our way of life. You must speak up about what the Village is trying to take away from you.

PLEASE this could be your future and livelyhood.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Speechless Sundays - Happy Shoppers

Larry Bettag - Cherry Creek Mortgage — Sun, 29 Nov 2009 20:53:09 -0600

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

I hate Cliche - But This is the Feel Good Story of the Year!

Larry Bettag - Cherry Creek Mortgage — Tue, 24 Nov 2009 09:24:27 -0600

Rarely do you come across a real life version of It's a Wonderful Life. But here it goes. My little brother, Dr. Eric Bettag, a surgeon with a cult following, was injured, paralyzed, in a car accident a little over two years ago when some 18 year old kid, dropped his compact discs under the dash board on the passenger's side of his picku up truck and blew through a red light while retreiving the discs. The result.... Dr. Bettag gets T-boned and gets airlifted to a specialty hospital to deal with severe trauma victims. Cracked vertebrae and instant paraylsis for an active community member and married father of 5. Life changes quickly and Eric had his world rocked.

Image provided by Flickr

Eric could move his arms like you and I, but the fine motor skills of his hands are gone. Everything from the arms on down were shot.

He'll never walk again....he was told.
He'll never run again.
He'll never practice medicine again.
He'll never.
He'll never...
He'll never........blah, blah, blah

He Will and He is!!!!!

It really was a pain for him to just exist for quite a while. Although he was paralyzed, I remember the tears. He was the jock of the family nicknamed "Rock." Here he was instead of working on others, he was the involuntary patient. Days became weeks and weeks became months and months became the past almost three years. Though paralyzed, Eric experienced pain that I could try to imagine. I knew when I saw him in the bed that I would never be able to contemplate that pain.

Dr. Bettag is now walking. The doctors and the therapists said they've never seen determination and persistence like they saw in him. He does walk the way that you and I walk, but walking nonetheless. They said he'd never walk again, but he is. Hours every day. He has a lot of reasons to persist when others would throw in the towel. Sure, he had his moments, but in life, there are players and pretenders. Pretenders say all the right things but do nothing. Players deliver. That's flat out the truth. There might not be a lot of words, but delivery happens on the field. Ever since Eric was a kid, the 3 brothers called him "Rock." Eric, a/k/a "Rock" is a Player.

Oh....the reasons...

God has just incredible purpose for Eric. He's the only Doctor that I've ever met who has a fan club. It's ridiculous the cult following that Eric had, but I'm sure that it's because of the time that he spent truly caring for each of his patients.
His Wife Joan - She's been the bastian of hope for him. "Rock" has his Rock and Joan is the Rock that kept Eric going during the moments of doubt and challenges;
His 5 kids - The oldest is a Freshman in High School and the youngest is only 5. His children need a rock star and every kid needs a dad who's really a dad. Rock's that dad.
His parents - His parents have been around him throughout every step of the process.
His siblings - Needless to say, Eric is the hysterical quip that all 4 of his siblings and their spouses love. Sometimes he stirs the pot, but mostly he stirs for laughs.
His Patients - I already said that it's riduculous to me, a mortgage banker and an attorney, to see the following that a doctor can have.

Soooooooooooooo Today I'm thankful. I'm thankful because Dr. Eric Bettag had his first day back in the medical practice AS A DOCTOR.

It's his first day of practice since that accident over two years ago!

Eric is back in business. He is easing back to a great schedule. He's improving the lives of those whom he comes into contact with. Sure, he's not doing surgery per se, but he's learned how to do certain procedures and is a determined as can be to be the best version of himself that he can be. For that I'm grateful. What's even better is that he will postively influence the lives of those people he comes into contact with.....Now as a practicing doctor.

"Rock", his wife, and 5 kids are coming to my house for Thanksgiving. I should say "To Celebrate Thanksgiving. I know this year is a year where a lot of celebrating will be going on.

If you need a Podiatrist who cares, make an appointment with Dr. Eric Bettag in Saint Charles, Illinois. His number is 630-584-4200. Make an appointment while you can. He's really the best of the best and his schedule will be full very shortly.

We've had our brother back for quite some time now. Now the community gets a great doctor back too.

HAPPY THANKSGIVING ROCK....YOU DA MAN!

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Speechless Sundays - Enough Said - Dad's Treasures

Larry Bettag - Cherry Creek Mortgage — Sun, 22 Nov 2009 22:11:24 -0600

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Why Don't Lender "Partners" help Build Realtor's Business?

Larry Bettag - Cherry Creek Mortgage — Sat, 21 Nov 2009 09:22:29 -0600

I run a region, run a branch and yes, I originate loans as well. I spend a lot of time recruiting on top of that. I'm amazed at what I hear from lenders. Realtors want loan officers to help them build their business. They don't want them to create their business. If lenders could do that they'd be realtors, but we've been called into lending and not real estate sales.

I've interviewed well over 200 lenders since I began recruiting folks a few years ago and am amazed that there is such a disparity in lender capabilities. As individuals, there are just some people that don't belong in this business. Not a knock on them. They're good people, but the DNA that they possess is really geared for some other type of profession. Some of the lenders have all the skills, but they still can't conquer the business. In my business, I'm so sick of lenders who buy leads. I hate that. I despise it. For those folks, they can't make a sale unless they buy leads. In other words, they can't build and establish relatinships with realtors, so they get transactional instead of relational. Wow....that leads me to this...

Lenders Need to Add Value to their referral partners!

Good lenders know how to do that. I have to admit when I first got in the business my M.O. was...

"Hey, I'm Larry Bettag, I'm a good guy, I have good rates and I'd like to help your clients. Call me if you need me."

I had a good boss who gave me materials and some good coaching that enabled me to grow. Plus, fortunately, I had the desire to be the best. I wanted to lay it all out on the line. I grew and grew and finally learned a few secrets that have enabled me to work with the top agents in Northern Illinois.

So, What's the Problem?

Mortgage companies don't teach loan officers how to add value to realtors. They don't teach loan officers how to add value to realtors. They don't teach loan officers how to refer contracts, YES CONTRACTS, to realtors.

I'm a substantial part of my realtor partner's income!

In 2007, I referred 22 contracts to my realtor partners.
In 2008, I only referred 12 contracts, but they were greatly appreciated.
YTD in 2009 I've referred 14 contracts.

Pretty huge stuff! We have our ups and downs. Client's come with their own set of issues, but I'm adding value to them. Once I was able to learn how to refer clients to my realtor partners, life became so much more enjoyable for each of us. It's important to me to have good realtors to refer my clients to.

Great Mortgage Companies Need to Help Loan Officers Grow!

Mortgage Companies need to invest in their loan officers. Sure some have better pay plans or some have a great "new" and "niche" product. Even if a loan officer gets paid some ridiculous commission split, but they don't know how to get business, what's the use? Seriously....I'd rather get paid some fair commission and close 10-20 loans per month than get paid 100% and just close a deal here and there.

Until mortgage companies know that they need to invest in the loan officer through coaching, teaching and mentoring, lenders will be all about trinkets, goodies and transactions. Once a loan officer can refer to a realtor, can coach a realtor and can help a realtor become accountable for the things that are important to the realtor, then that loan officer can be on the road to a great and prosperous relationship with their clients and their referral partners.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Fun Week Ahead - - - Family Time Starting with the Packers

Larry Bettag - Cherry Creek Mortgage — Fri, 20 Nov 2009 09:17:06 -0600

Leaving in just a bit. Have a lot to do and I'm picking up the kids after school. We're heading to the farm up in Wisconsin this afternoon. A friend of mine gave me tickets to the Green Bay Packers and San Francisco 49ers Game for this Sunday up in Green Bay. I'm taking my wife and two oldest boys up to the game.

It'll be a lot of fun. I love going to a place where I get absolutely zero cell phone reception and I can just be dad and husband. This will be a great way to start the Thanksgiving week off.

My kids will have a hard time focusing at school today. But by 3:00 pm, we'll be well on the road with all 5 of them. This week we get to leave the dog at home and see him Sunday night.

Have an awesome Thanksgiving. I'm starting mine in a few hours.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Be Cautious About Giving Info to Census Workers

Larry Bettag - Cherry Creek Mortgage — Thu, 19 Nov 2009 22:08:40 -0600

With the U.S. Census process beginning, the Better Business Bureau (BBB) advises people to be cautious. The major concern is that individuals don't become a victim of fraud or identity theft.

The first phase of the 2010 U.S. Census is under way as workers have begun verifying the addresses of households across the country. Eventually, more than 140,000 U.S. Census workers will count every person in the United States and will gather information about every person living at each address including name, age, gender, race, and other relevant data.

The big question is - how do you tell the difference between a U.S. Census worker and a con artist? BBB offers the following advice:

** If a U.S. Census worker knocks on your door, they will have a badge, a handheld device, a Census Bureau canvas bag, and a confidentiality notice. Ask to see their identification and their badge before answering their questions. However, you should never invite anyone you don't know into your home.

** Census workers are currently only knocking on doors to verify address information. Do not give your Social Security number, cre dit card or banking information to anyone, even if they claim they need it for the U.S. Census. While the Census Bureau might ask for basic financial information, such as a salary range, the Census Bureau will not ask for Social Security, bank account, or credit card numbers nor will employees solicit donations.

Eventually, Census workers may contact you by telephone, mail, or in person at home. However, the Census Bureau will not contact you by Email, so be on the lookout for Email scams impersonating the Census.

Never click on a link or open any attachments in an Email that are supposedly from the U.S. Census Bureau.

For more advice on avoiding identity theft and fraud, visit http://www.bbb.org/.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Wordless Wednesdays - Boys will be Boys

Larry Bettag - Cherry Creek Mortgage — Wed, 18 Nov 2009 21:22:00 -0600

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Campton Hills - The Devil is in Their Details

Larry Bettag - Cherry Creek Mortgage — Tue, 17 Nov 2009 21:53:19 -0600

Got this from a leader who took notes and observed more ridiculousness from "Campton" bureaucrats (My comments are in parens or italics):

If you were wondering what went on last night at the Planning Commission hearing, the Community Center was full (not standing room only, but a crowd). After an hour of planning commission business including re-hash regarding Norton Lakes Subdivision the Public hearing was held.

Big thanks to unincorporated La Fox and Elburn residents who showed up and voiced their opposition to the annexation and zoning changes. The planning commission heard from 5 different people, all saying the same thing. We don't want Campton Hills to annex the land. Drew Frasz stated that .....we had a handshake deal with Preserve Campton not to go further South than Route 38...... first it was Mongerson Park, now this one, what's next?...... He stated that he had heard that there are at least 5 properties talking with the Village that are South of 38.

He was reminding that this hearing is on the zoning change not the annexation.

Another speaker said that they feel like they did with Elgin . . with Campton Hills looking to annex and rezone farmland into PUDs. The Planning Commission didn't like hearing that.

SAY WHAT???? MORE OF THE SAME. CAMPTON HAS BECOME THE ENEMY THAT THEY HATED

Unfortunately, the legal annexation case (09 MR 0531) has already quietly had it's public hearing in court early in November, before any of us knew what was going on.

The residents of La Fox/Elburn were basically saying the same thing, . . . we are happy with what we have, we want to be unincorporated, we want the county and the Sheriff. We want our to preserve our rural way of life, we want it to keep farmland not residences. (This has been my biggest beef all along. I moved to the country to stay out of the city. These A-holes said we're better to determine how you should use your property than you, the property owner. This just pisses me off at their arrogance)

That is except for the petitioner Stephen Ciampi, who wants the services provided by the Campton Hills Police Department, he wants someone to slow down the traffic on Harley, and to be there for him. He mentioned he pursued the Village not the other way around, although he did note that when the road was being worked on by Campton Township earlier this year, one of the guys working on the road and culvert told him he should look into becoming part of the Village. (Hey....it's a free country....he may not be smart, but he has his rights).

Background: A little over 5 years ago Mr. Ciampi bought this property and requested a zoning change from Kane County from F to F1 so he could build his residence on 3.75 acre parcel. Now he is looking to Annex into Campton Hills and receive PUD zoning for up to 6 additional lots on 25 acres. Contrary to Campton Hill's Comp plan, which shows this area as agriculture which is the same classification as Kane County's 2030 plan. (Oh...wait...he is smart. He's gone to bed with the enemy and wants to develop land....hmmmmmmm. I thought that Campton hated developers and developments....it's a little more clear now).

The Planning Commission did not make any recommendations to the Village Board regarding the rezoning of this piece of land, since they had received a 28 page land use opinion report late yesterday, just before the hearing. What will the Village board do without receiving a recommendation when considering the annexation?

It was mentioned by Village Attorney Braithwaite that the Public Hearing on the annexation will be December 1 at the Village Board meeting. Please mark your calendars, if you oppose what Campton Hills is trying to do, you need to show up and voice your opinion.

Please Please Please show up on December 1 and let them know.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Active Rain....I need just one more Active Rain Referral....to hit 50!

Larry Bettag - Cherry Creek Mortgage — Tue, 17 Nov 2009 08:37:06 -0600

A couple of astounding things here happened to me this past weekend on Active Rain. I write a post this weekend that was action packed. For the first time ever, the post gets over 158 comments. Just ridiculous. It also sets another personal best and gets re-posted 12 times. My post? We Received Your Payments On Time but are Foreclosing Anyway! It's a true, sad story about a consumer totally getting ripped off by a major mortgage company. Unfortunately, I didn't get a feature (after all the comments started to roll in, I knew that I had found paradise, but no....it was just a just a good post that failed to hit the feature criteria).

What was so cool is that I had over 6 people e-mail me from realtors to consumers asking for my advice on X, Y and Z. Six Times on 1 Post saying "You've been contacted by..."

I also got two referrals that should lead into deals from the post as well. I've never had such success from one post. To add to the gluttonness pleasures of a successful Active Rain Post, I had over 20 people who I don't know add me as a friend on Facebook.

What you Talking about Willis?

Active Rain did What???

Plus....to top it off, I had 13 new add ons from Twitter as well.

What amazes me most, is that the post got me to referral number 49 from Active Rain. I've closed about one third of the the Active Rain Referrals. I was able to refer the another referral out today that I received today. That's Right 49 Referrals from Active Rain!

OK, OK, OK....It was a lesson well learned. Quite honestly, it had been over two months since my last referral from Active Rain. I want to be swimming in the rain. I must say towards the end of the summer I was on the road a lot recruiting as well as taking my last summer flings with the family.

Active Rain...yes....passion...no! When Active Rain becomes a burden or a job, it's time for me to take a break or get out. I can say that when the passion is gone, the writings don't come well either....bottom line is that a post needs to emanate from within.

So, Thanks to Active Rain!

I've said this before, but I'll say it again to you Active Rain. You've weaseled your way into becoming a part of my business plan. 49 referrals? I can't wait for the 50th. It's my plan to hit the half century for Active Rain Referrals sometime in November. What makes this so great is that I can start building on completing my century ride in 2010. Thanks Active Rain!

Is it too early to say Welcome 2010????

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Fannie Announces New Loan Limits

Larry Bettag - Cherry Creek Mortgage — Mon, 16 Nov 2009 11:35:31 -0600

Fannie Mae has issued Announcement 09-34, Confirmation of Conventional Loan Limits for 2010, to provide notification of our 2010 conforming loan limits. As in 2009, both the general loan limits and the high-cost area loan limits are provided by our regulator, the Federal Housing Finance Agency (FHFA).

There will be no changes to the general loan limits or the high-cost area limits for loans originated in 2010.

2010 Conforming Loan Limits (maximum original principal balance for first liens)

Units	Contiguous States, District of Columbia, and Puerto Rico	Alaska, Guam, Hawaii, and the U.S. Virgin Islands
	General	High-Cost Areas*	General	High-Cost Areas*
One	$417,000	$729,750	$625,500	$938,250
Two	$533,850	$934,200	$800,775	$1,201,150
Three	$645,300	$1,129,250	$967,950	$1,451,925
Four	$801,950	$1,403,400	$1,202,925	$1,804,375

*The chart indicates the maximum loan limit for high-cost areas - note that each geographic area has its own specific high-cost area loan limit (refer to FHFA's News Release for details).

Loan Limit Resources

Fannie Mae provides two resources to assist in determining the loan limit for a specific area or address:

1. The Loan Limit Lookup Table shows the loan limits by state, county, and ZIP code.

2. The Loan Limit Geocoder^TM provides loan limit information for specific addresses; the user can enter a single address or a batch file.

Note: These tools will be updated for 2010 by year end.

For more details, read Announcement 09-34: Confirmation of Conventional Loan Limits for 2010 or FHFA's News Release.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

A Client Wants to Fire a Relationship and You're in the Middle!!!!

Larry Bettag - Cherry Creek Mortgage — Mon, 16 Nov 2009 09:34:35 -0600

A couple of years ago, I was fortunate enough to have a one on one session with Brian Buffini....not with a Buffini coach, but with Brian Buffini himself. He was pointed, kind, humble, gracious and knowledgable. How I was blessed to recieve this is another story itself for another post. We talked about this, spoke about that, but he gave me some great guidance.....Specifically, he said one thing that resonates with me to this date. He said to me:

"I am only the hammer, when the hammer starts acting like its the carpenter, the carpenter will put the hammer down and pick up a new hammer. He continued...I've been humbled twice before. There won't be a third time."

I've since heard this in Christian cirlces. Basically when the hammer becomes the carpenter, the carpenter moves on. When you think that you can do it alone or on your own power....God moves to another tool. Pretty rough, but a good call to humility.

There's a great analogy that I see all too frequently in real estate, with lenders as well as realtors. In truth, All Real Estate Professionals are Supposed to be the Hammer that's being utilized by the consumer.

Often times, that isn't what's happening. I had a client today askiing for a new realtor referral because they felt that the realtor was trying to get them in House #1 when the buyers liked House #1 a lot, but weren't ready to commit to that house. No they wanted to see more. Invariably, the buyer asks me for a referral to a different realtor. Nothing better than I enjoy than referring a client to a realtor. In fact I've given a lot of contracts out to my referral partner. But I like giving someone who isn't attached to a realtor. I don't like saying OK...fine....

When you dump Your Realtor I'll get you a good one!!!!

I always try to encourage the clients to go back to your realtor and tell them what the issue is. Sometimes they do. Often times they say, "we have, but I'm tired of fighting. I thought that she'd want to earn commission. So.....it seems that the client is out. The client says, I don't want the the realtor and I don't want my realtor to earn a dime off of me. I've been so clear, but the realtor won't listen.

The Carpenter Put the Hammer down and is now off to pick up another!!!!!! Really sad. I see the same thing with Loan Officers. I pick up deals because other loan officers won't listen or they push their own agenda. Much to my own shame, in my early years, I never pushed a client, but I didn't listen to a client. Pretty harsh to hear that my borrowers are now gong to closing, but with a different lender.

Your real estate professional should help you reach your goals!!!

Let's be honest. If you help one person across the finish line, then everyone will know it and you'll get paid to help others across the finish line.

If you push your client across the finish line....EVERYONE WILL KNOW IT.....but your referrals will be few and far between.

I want to be a hammer that gets passed from one carpenter to the next.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Urgent for Citzens of Campton Hills

Larry Bettag - Cherry Creek Mortgage — Sun, 15 Nov 2009 20:38:09 -0600

I'm sure VCH hopes no one notices this Public hearing set for:

TOMORROW, NOVEMBER 16TH, 2009 AT 6:30 at the COMMUNITY CENTER.

Pay Attention to the Actions of the Campton Officials (I can't use the word "leaders" becase they're anything but that)!!!!

There's a zoning change request from a current land owner regarding annexation into the village.

The property is located at 2N190 Harley Road. (what it doesn't say is that for it to be contiguous to the Village, the property must start at 38 and extend down the west side of Harley to that address and maybe even further down Harley)

The Agenda also does not state the original zoning and what the change is being requested. Maybe they don't want the citizens of Campton What the F____ Hills to know. There are assumptions that it's to change the zoning from Farming to some type of PUD/ Residential. HOW COOL IS THAT? Gotta love the Campton leaders here.

This may be your only chance to speak about this change before it happens!!!

This appears to conflict with Campton's own Comprehensive Plan for the Area. Check out... http://www.villageofcamptonhills.org/images/Campton%20Hills%20Comp%20Plan%20HR%201.pdf

The village is looking to grow (this time south of 38) and needs to agree to change zoning to meet with the owners request for annexation. ISN'T THIS WHAT ELGIN DID? Annexed unincorporated land and changed the zoning to residential? Look out LaFox big bad Campton is coming.

Please get the word out, don't be fooled again.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Wordless Wednesday

Larry Bettag - Cherry Creek Mortgage — Sun, 15 Nov 2009 20:25:51 -0600

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee

Fighting Irish seem to be done fighting.

Larry Bettag - Cherry Creek Mortgage — Sat, 14 Nov 2009 23:07:17 -0600

Very short post here. I was bummed out and a bit disgusted here. I really wanted Notre Dame to do well this year. I'm not much of a Charlie Weiss fan, but I really felth that someting extraordinary would happen to get the Notrel Dame football team around. Here it is, not too much longer after he was hired and it appears that he's on his way out the door after loosing to Pittsburgh Panthers this evening. Unfortunately, the hot seat has been cranked up. I'm afraid that it's just a matter of time.

Larry Bettag - Regional Vice President, Midwest Region

Illinois FHA Specialist

630-417-7172

An Illinois Residential Mortgage Licensee