Your Local Home Team's Blog

The 7 most important questions to ask your loan agent before starting the mortgage process

2008-08-28T11:17:05Z

The 7 most important questions to ask your loan agent before starting the mortgage process

I advocate spending 20 minutes on the phone interviewing the loan originators you are considering working with. I recommend avoiding specifics about rates and programs; instead I believe you should use the time to get a true feel for the originator. This gives you important information to determine if they are the best fit for you and your needs.

What does that 20 minutes look like? I've prepared the 7 most important questions to ask your loan agent during that initial interview to help you determine if that originator is right for you. Ask these questions and take notes. Compare the responses you receive from the different originators. Answers to these questions reveal key insights about the person you are talking with.

A couple of notes about these questions:

They aren't hard. These are no-brainers for serious loan agents. If the person you are speaking with can't articulate a sound answer to the questions below they are either lying or are incompetent. Either way avoid them like the plague.

They are meant to elicit genuine response. If you get some canned sales pitch instead of a true answer rephrase the question and keep going until you are satisfied that you've received an honest reply.

These questions alone will not protect you from unsavory mortgage lenders. There is no one magic bullet; what we are doing is developing a series of tests and requirements that together build a system that helps protect you and delivers an excellent mortgage. No one element stands up to this challenge on its own.

Here are the questions - print them out and take notes for each of the three referrals you have chosen to interview from step 1 of the 8 steps to saving $2,500 game plan.

How are you compensated?

How long have you been in the mortgage business, in what capacities?

Do you have two (or three) customer referrals that I could speak with directly?

What is your lending and personal business philosophy?

Have you completed any licensing or continuing education?

What documents do you customarily provide to your your clients during the loan process?

Which lenders do you use and which loan programs made up the majority of your originations last year?

There you have it - 7 simple questions that will help you unlock the riddle that is your mortgage originator. Let's take a look at what responses to those questions should look like. Please note that many of the comments below could easily be follow up questions to the main 7 that let you probe deeper on each topic.

1. How are you compensated?

We don't really much care if they are compensated by commission or by salary. In fact I would argue that a commissioned loan agent will work harder to see your loan through quickly when compared to a salaried loan agent. What we are looking for here is the following:

Honesty and confidence in sharing compensation.

An understanding of fees charged by the originator, charged by the broker or lender, and those charged by the investor and other third parties. This will help us in our negotiation later in the process.

An understanding of their compensation via yield spread premium or bonuses awarded for selling a particular type of mortgage product.

2. How long have you been in the mortgage business, in what capacities?

We are looking for experience in the industry. I set a minimum at 2 years. I would typically choose someone with more experience. The reason you want someone with experience is that the experienced person tends to have a better grasp of product and underwriting guidelines which will be to your benefit when your loan is structured and submitted for approval.

Using a green mortgage originator can cost your thousands of dollars simply due to their lack of knowledge of underwriting and program guidelines. Rookie originators tend to pitch the easiest-to-qualify mortgage products which also happen to be the most expensive.

Understanding the capacities that originators have served in also helps you get a better understanding of their level of expertise in the industry. An originator who has been an underwriter may not be the smoothest salesperson, but they may be the best at getting your loan approved and funded quickly.

3. Do you have two (or three) customer referrals that I could speak with directly?

This should be a softball to a customer-oriented loan originator. They should have 3 names that they can give you along with phone numbers that put you in touch with past clients.

Red Flag #1: The originator can't give you 3 names and numbers.

Red Flag #2: It takes the originator more than 10 minutes to name 3.

You don't care about published testimonials. You want real people that you can talk to that will go to bat for the loan agent as a service provider. You want to ask your own questions and form your own opinions. If they can't deliver these people, move on.

4. What is your lending and personal business philosophy?

People that are good at their job and take pride in their work have a personal philosophy that drives them and their interactions with their customers. Their work is intentional and it is driven from a set of beliefs about lending and about providing service. Ask your loan agent what their philosophy is. What is their mission statement or personal lending mantra that drives the way they conduct business?

If they don't have a well-articulated way of doing business, or can't relay their philosophical business and lending foundation then its time to move on. Here's mine just for an example.

You ask: "What is your lending or personal business philosophy?"

I answer: "My philosophy is summed up in this way: ‘Nobody works harder to make getting a mortgage easier.' I work hard for each and every one of my clients by providing service, information and mortgage products that are aligned with the unique needs of my clients. I develop a relationship that merely begins when your mortgage funds."

Short, sweet and answers the question. Everyone that is intentional in their business has a philosophy - your loan agent should definitely have one.

5. Have you completed any licensing or continuing education?

Not all originators are required to be licensed, and not all originators are required to take continuing education. The licensing tests are mostly a joke, and obviously the system hasn't stopped anyone from hurting people if they want to. With that said, there is something to say for someone taking the time to further their education in their respective fields. Whether you agree with licensing or not; you must agree that someone who is invested in improving themselves in their profession is a better candidate to win your business than someone who merely shows up and does nothing to improve their skill in their chosen profession.

Be sure to ask about licenses held and special designations or awards that have been earned.

6. What documents do you customarily provide to your your clients during the loan process?

We are looking for loan agents who are operate in a transparent, fully-disclosed and documented manner. We want to see that they provide the following:

Initial good faith estimate

Revised good faith estimate if there are program changes

Rate lock from the investor or secondary marketing department

Automated underwriting approval if used

Loan approval from the investor or underwriter's desk

Estimated HUD 1-day prior to document signing

7. Which lenders do you use and which loan programs made up the majority of your originations last year?

Some of your originators will work for a broker or work for a bank. Some may work with dozens of lenders, others may have only their own lending department to work with. What we want to get out of this question is an understanding of the agent's comfort level with various products. Loan agents are creatures of habit and tend to get loans to fit guidelines that they are familiar and comfortable with first; regardless of the amount of benefit available to you through other channels.

Here are some common channels you want to know about:

Are they a broker or a direct lender?

Do they provide government-sponsored FHA and VA loans?

Do they do primarily prime, Alt-A or subprime mortgages?

Do they do 2nd mortgages and home equity lines of credit? (HELOCs)

Get percentages and numbers for each. We don't need exact numbers but rough estimates will help. If you talk to someone who is a broker who works primarily with subprime borrowers you can bet one of the quotes you get will be a short-term ARM loan through a subprime investor, regardless of your credit score. Conversely if you talk with someone who only does conforming prime loans for a direct lender they may say you don't qualify for a loan when the problem is their limited product offerings.

The Bottom Line: You need to get a feel for the loan agent's breadth and depth of product knowledge and expertise in order to asses how capable they will be in helping you secure a great mortgage. If you have a weak originator you are severely limited by their inability to identify the proper program for you.

There are definitely other important questions to ask. I encourage you to use these 7 as a jumping-off point to your relationship with your loan agent. They are not the end of the process - they are the beginning. These should be the second set of filters (after the 8 steps) that help you identify the agent that is going to best be able to assist you in finding the best loan for you and your family.

Brad Koenig
www.YourlocalHomeTeam.com

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2008-08-27T16:34:31Z

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Jefferson County Habitat for Humanity

2008-08-27T16:09:13Z

Dear Friends and Volunteers of Jefferson County WI Habitat for Humanity,

On September 13, 2008, Modern Woodman's Insurance Company is sponsoring an event at Fort Atkinson High school's beautiful auditorium on behalf of Jefferson County Habitat for Humanity, and has offered to match up to $2,500 for every dollar raised!

The event is a dinner and show which features "Tony Rocker and the Come Back Special Band" and a pasta buffet provided by Capn's Catering. Tony is an award winning Elvis Tribute Artist who in January of 2004 won 3^rd place at the "Midwest Tribute to the King Contest". Capn's Catering is known throughout Jefferson County for their quality, fabulous catering menu. We are pleased that both the Tony Rocker and Come Back Special Band, and Capn's Catering have agreed to provide their creative talent and services to help Modern Woodman's raise money for this event.

Advanced Tickets are $45 for VIP seating, $35 Preferred seating, $30 Standard seating

After September 1: $50 VIP seating, $40 Preferred seating, $35 Standard seating

All tickets include dinner and beverages.

Call Rick or Mary Olson for more details or tickets at (920) 563-9405 or

Jefferson County Habitat for Humanity (920) 397-736

Come out and enjoy an evening of fabulous food, great entertainment, an atmosphere suitable for the entire family, and the satisfaction of knowing that every dollar raised will be used to build the next Habitat for Humanity home in Jefferson County. This means that you will help a deserving, low-income family achieve the dream of homeownership. Dinner, show, and helping those less fortunate all for under $50! How could one go wrong?

Thank you so much of your time and support of Habitat for Humanity. Hope to see you there!

Federal housing credit

2008-07-31T11:15:22Z

As you are probably aware, the president signed into law the new housing bill. We are getting some preliminary indications of exactly what effect this will have on the mortgage industry and there are some dramatic changes. Some appear to be very positive and some I have my reservations about (the ability to refi endangered mortgages from their delinquent loan into an FHA loan has some very nice thing to it, but it also has some very very definite "catches" to it as well)....this bill is set to take effect on 10/1/08 and as I get information about the specifics on this new law I will forward them to you. Here is one such item and it is a VERY STRONG POSITIVE for our industry! Click on the link below to view it for yourself, the "First Time Homebuyer Tax Credit".... www.federalhousingtaxcredit.com

housing stimulas package

2008-07-28T13:57:13Z

First Time Home Buyers qualify for a $7,500 Tax Credit(Married of Single) on the purchase of a home to be used as a principal residence.

Buyer cannot have owned a residence in the past 3 years.

Any property that qualifies for Mortgage Interest Deductability qualifies.

Income limit.....$75,000 for an individual and $150,000 filing jointly.

There is a phase out for incomes above these numbers.

Eligible purchasers may claim credit for homes purchased on or after April 8, 2008 and before July 1, 2009.

There is a repayment provision....those who use it we be required to pay it back over 15 years in increments fo $502.

http://www.realtor.org/press_room/news_releases/2008/realtors_pledge_support_housing_stimulus_bill

goverment bailout?

2008-07-28T10:57:29Z

Over the weekend the Senate passed ground braking legislation aimed at helping troubled homeowners, adding confidence to the mortgage markets, and encouraging home buying by first time homebuyers. The same bill was passed by the House of Representatives last week (as described below) and the President has publically said that he will sign this bill into law if passed by Congress. So, with so much going on I thought I should get the weekly report out to you a day early. I have read many articles on the subject and found an article from Friday's New York Times to be the most informative. Please click on the link below to see how the housing bill may benefit you.

http://www.nytimes.com/2008/07/25/business/25money.html?scp=1&sq=housing+bill%2C+something+for+everyone&st=nyt

As always, feel free to contact me at any time with questions and I hope you have a great week

Welcome back Kati!

2008-07-21T16:26:44Z

I would like to welcome back Kati Hatfield. Kati was with me for almost 2 years prior to leaving to try a new career. Kati has knowledge in all parts of real estate including working with buyers, sellers, bank reo properties and marketing. She will assist me in the office but will also help me out with appointments to provide even better service for our clients and customers.

With over 70% of our business coming from refferals from our clients and business partners we really strive for service beyond expectations.

Welcome back Kati!!

Taxes

2008-07-18T14:02:38Z

Your House As Seen By:

Yourself...

Your Buyer...

Your Lender...

Your Appraiser...

Your County's Tax Assessor...

stocks of Fannie Mae and Freddie Mac rebound.

2008-07-17T09:29:29Z

Decisive moves from government agencies have helped the stocks of Fannie Mae and Freddie Mac rebound.

The Fed and the Treasury Department on Sunday offered plans. The Treasury Department's package includes "foreclosure rescue to help strapped homeowners get new, more affordable government-backed mortgages through the Federal Housing Administration, and creates a new regulator and tighter controls for Fannie Mae and Freddie Mac." (MSNBC)

Shares of both Fannie and Freddie went up 13% at the opening bell yesterday. This increase helps absorb a portion of the near 60 percent loss they have sustained through the first quarters of this year.

While there are mixed responses to the governments plan, it appears to have had a soothing effect on the stocks.

Federal Reserve Chairman Ben Bernanke told Congress yesterday that the troubled mortgage institution are in "no danger of failing."

Market Conditions by Carla L. Davis RealtyTimes.com

Feds tighten rules on subprime loans

2008-07-09T10:27:16Z

The Fed announced yesterday morning that it would tighten rules on lending to subprime and exotic loan borrowers. What does this mean for the real estate market?

Fed Chairman Ben Bernanke said, "Unfortunately, in the past few years, many mortgage loans were extended that were poorly underwritten or whose terms were inadequately disclosed, particularly in the subprime market. As you know, those poor lending practices have contributed to a sharp increase in mortgage delinquencies and foreclosures. The resulting costs have been felt not only by borrowers but also by entire communities, as foreclosure clusters have caused neighborhoods to deteriorate and reduced municipal tax bases. "

In response to these subprime issues, the Fed is prepared to put a heavy hand on subprime and exotic mortgages -- issuing new lending rules to restrict exotic mortgages and high-cost loans for those with weak credit. Hopefully these efforts, said Bernanke, will "help the financial system return to more normal functioning."

He continued that designing rules for this complex system is not an easy task -- but one which is worth the Fed drawing their attention to.

Do we really need the government making more rules. What about just educating consumer's that thes loans are not good. I have seen homeowners use the these loans to pay off their credit card debt. This is ok, until they charge up those same credit cards in the next 6 months. America is not a saving nation. Everyone should have at least 6 months of salary in savings.

I think high schools should have a class on the credit cards, mortgages and other pros and cons of compounding interest. Maybe they do now. I learned this on my own. Any comments?

Ameridream and charitable down payment assistance programs

2008-07-08T15:32:39Z

HUD has proposed yet another rule trying to eliminate charitable down payment assistance programs like AmeriDream!

This action would prevent us from together providing annually over 200,000 qualified homebuyers across America the opportunity to own a home. Take action today and tell HUD the negative impact their proposed rule will have on you and your customers.

After more than 15,000 comments opposing the last proposed rule and being defeated in two lawsuits, HUD is still trying to eliminate homeownership opportunities for homebuyers throughout America. Tell HUD that they are wrong again!

As you know, many depend on the help and hope charitable down payment assistance programs provide. Tell HUD to make sure that AmeriDream and other similar programs remain in place so that the promise of homeownership remains a reality for the individuals and families FHA was created to serve.

Tell HUD today that you support homeownership and tell them to find a way to keep down payment assistance porgrams such as AmeriDream. The comment period ends August 15, 2008, please make your comment now.

Go to www.supporthomeownership.com to make your comments.

Your voice may be the one that makes the difference!

Comparing Prices to Gasoline

2008-07-07T23:10:59Z

Think a gallon of gas is expensive?

This makes one think, and also puts things in perspective.

Diet Snapple 16 oz $1.29 ........ $10.32 per gallon

Lipton Ice Tea 16 oz $1.19 ...........$9.52 per gallon

Gatorade 20 oz $1.59 ...... $10.17 per gallon

Ocean Spray 16 oz $1.25 . $10.00 per gallon

Brake Fluid 12 oz $3.15 . $33.60 per gallon

Vick's Nyquil 6 oz $8.35 .... $178.13 per gallon

Pepto Bismol 4 oz $3.85 ..... $123.20 per gallon

Whiteout 7 oz $1.39 ......... .. $25.42 per gallon

Scope 1.5 oz $0.99 .$84.48 per gallon

And this is the REAL KICKER...

Evian water 9 oz $1.49..........$21.19 per gallon?!
$21.19 for WATER

And the buyers don't even know the source. (Evian spelled backwards is Naive.)

So, the next time you're at the pump, be glad your car doesn't run on water, Scope, or Whiteout, or God forbid Pepto Bismol or Nyquil.

Just a little humor to help ease the pain of your next trip to the pump...

Vacuum Cleaner Salesman

2008-07-07T23:06:48Z

A little old lady answered a knock on the door one day, only to be confronted by a well-dressed young man carrying a vacuum cleaner. "Good morning," said the young man. "If I could take a couple of minutes of your time, I would like to demonstrate the very latest in high-powered vacuum cleaners."

"Go away!" said the old lady. "I haven't got any money!" and she proceeded to close the door.

Quick as a flash, the young man wedged his foot in the door and pushed it wide open. "Don't be too hasty!" he said. "Not until you have at least seen my demonstration." And with that, he emptied a bucket of horse manure onto her hallway carpet. "If this vacuum cleaner does not remove all traces of this fresh horse manure from your carpet, Madam, I will personally eat the remainder."

The old lady stepped back and said, "Well I hope you've got a damned good appetite, because they cut off my electricity this morning!"

Thank you cards through sendoutcards.com!

2008-07-07T19:24:42Z

In the last few years I have noticed a decline in birthday cards and thank you cards. I don't think email is a good substitute.

I have been using sendoutcards.com for the last 6 months. I love it! I am able to choose from hundreds of thank you cards, birthday and anniversary cards. I can even post date cards for the weeks I am on vacation.

With the personalization of pictures you can really set yourself apart. I have gotten more listings just because I send out a thank you card.

My family loves that I still send out cards (in my own hand writing) I can even send gifts and gift cards.

This is such a great tool. Go to my site www.sendoutcards.com/32922 to send a free card on me.

For business or for family there is no better way to stay in touch. Give it a try!!

Happy 4th of July

2008-07-04T10:47:13Z

I just wanted to wish everyone a happy 4th of July weekend. Take a moment to remember why we are celebrating this weekend.

Below is a list of local events. Make sure you come to the milwaukee zoo this sunday for operation freedom as well.

Operation Freedom 2008
The Military Order of the Purple Heart and Milwaukee County are co-hosting "Operation Freedom" to recognize our Armed Forces (active duty Army, Navy, Marines, Air Force, Coast Guard, National Guard, Reserves and Veterans) and their families on Sunday, July 6, at the Milwaukee County Zoo. Listeners are invited to join the Military Order of the Purple Heart, the County Executive, the County Board, Jeff Wagner at 1:30 pm for the formal program which this year will include the United States Army Drill Team. Admission for the public to the "Operation Freedom" program in the south end of the Zoo parking lot is included with normal zoo admission. Call (414) 299-9052 for general information. Come join our members of the Armed Forces to thank them for a job well done!

Calling all Armed Forces!

While our country continues to pursue the war against terror and military operations continue in Iraq and Afghanistan, many troops have made the successful journey home while other troops are still being deployed. The Military Order of the Purple Heart and Milwaukee County would like to invite Wisconsin military personnel - active duty, reserves, guard, veterans, and the families to attend "Operation Freedom" at no cost. Experience an exciting day at the Milwaukee County Zoo on Sunday, July 6, 2008 from 9 am - 6 pm and enjoy the following for free: admission, parking, rides, exhibits, as well as a free picnic lunch, recognition program and entertainment. In addition to the zoo attractions, military equipment will be displayed in the zoo parking lot. To obtain special wristbands, which will identify qualifying Zoo patrons, please contact your local veterans' organization, reserve or active units by June 27, 2008. Wristbands will be available after June 27, 2008 - but will have to be picked up at Will Call at the Milwaukee County Fleet Management Offices located on Watertown Plank Road & Hwy. 45. Shuttles will be available to take you to the Zoo. For more information, call 414-299-9052.

Area Fourth of July-related activities

From the Journal Sentinel

Posted: July 1, 2008

Here's a rundown of Fourth of July-related activities in Milwaukee, Ozaukee, Racine, Washington and Waukesha counties this week. All events are Friday, July 4, unless otherwise indicated.

For additional information on Fourth of July events, also see the MyCommunityNOW listings.

Milwaukee County

• Alcott Park, 3751 S. 97th St.: parade, 9 a.m.; buggy/trike/coaster judging, 10:15 a.m. (awards presentation, 10:45 a.m.); kids' tattoos, games; talent contest, 6 p.m.; fireworks, 9:15 p.m.

• Enderis Playfield, 2978 N. 72nd St.: parade, 8:30 a.m. beginning at 81st Street School and MGC Church; concert, 9:45 a.m.; games, contests, prizes.

• Gordon Park, 1321 E. Locust St.: parade, 10:30 a.m.; children's activities; noon, Milwaukee Public Theater performance; 1:15 p.m., kids' talent contest; open mic (adults only), 4:30 p.m.; fireworks, 9:15

• Humboldt Park, 3000 S. Howell Ave.: parade, 9 a.m. starting at Kinnickinnic and Lincoln avenues; children's entertainment; dance and talent contests; "All the King's Men," 7:15 p.m.; fireworks, 9:15 p.m.

• Jackson Park, 3500 W. Forest Home Ave.: parade, 8:30 a.m.; children's games, ice cream, doll buggy/tricycle/bicycle/coaster wagon contest; talent contest; fireworks, 9:15 p.m.

• Dr. M L King Jr. Park, 1531 W. Vliet St.: face painting, games, prizes, food, 11:30 a.m.; talent contest, 1 p.m.; music and skating, 4 p.m.

• Lake Park, 3233 E. Kenwood Blvd.: parade, 9 a.m. starting at Maryland and Hartford avenues (Hartford School); children's games, sidewalk chalk drawing, buggy/coaster/trike and bike parades; fireworks, 9:15 p.m.

• Lincoln Park, 1301 W. Hampton Ave.: fireworks, 9:15 p.m.

• McGovern Park, 5400 N. 51st Blvd.: family activities, 10 a.m. to 1 p.m.; talent contest and karaoke showcase, 2 p.m.

• Merrill Playfield, 461 N. 35th St.: parade, 10:15 a.m. from V.E. Carter (2801 W. Wisconsin Ave.) to park; parade awards, games, prizes, food

• Mitchell Park, 2600 W. Pierce St.: parade, 8:45 a.m.; contests, games; talent show, 3 p.m.; fireworks, 9:15 p.m.

• Noyes Park, 8235 W. Good Hope Road: parade, 8:45 a.m.; fireworks, 9:15 p.m.

• Sherman Park, 3000 N. Sherman Blvd.: parade, 9:30 a.m.; ice cream, games

• Washington Park, 1859 N. 40th St.: parade, 10 a.m.; games buggy/coaster/bikes/trikes contests; fireworks, 9:15 p.m.

• Wilson Park, 1601 W. Howard Ave.: parade, 9 a.m. (north section, Lincoln State Bank parking lot, 3131 S. 13th St; south section, Wilson Park Recreation, 3900 S. 20th St.); music, contests, games; ice show, 3 p.m.; talent contest, 5L30 p.m.; fireworks, 9:15 p.m.

Shorewood: parade, 3:30 p.m. from Lake Bluff Blvd. and Oakland Ave., to River Park with ice cream and games in the park after the parade. Food and music in Atwater park, 6 p.m. Fireworks, 9:30 p.m. in Atwater Park. Call (414) 847-2700.

St. Francis: parade, 10 a.m. on Barland Ave., to Milt Vretenar Municipal Park. Activities, music and food to follow in the park. Fireworks, 9:15 p.m. Call (414) 481-2300.

South Milwaukee: children's parade, 10:10 a.m. followed by games, ice cream and penny scramble for kids in Brown Pavilion in Grant Park areas 5 and 6. Fireworks, 9:30 p.m. in the park. Call (414) 762-2222.

Wauwatosa: parade, 9 a.m. from 104th St. and North Ave., east to 80th St. Family games, judging of bikes, wagons and buggies, and free ice cream to parade participants from 12:30 to 4 p.m. in Hart Park. Fireworks, 9:30 p.m. in the park. Call (414) 479-8917.

West Allis: parade, 7 p.m. Wednesday from 77th St. and Greenfield Ave, ending at Veterans' Memorial Park, 70th & National Ave., followed by entertainment, music, and children's activities in the park. Talent show, 7 p.m. Friday with grandstand show at 8:30 p.m. followed by fireworks, all at State Fair Park. Call (414) 302-8300.

Whitefish Bay: parade, 11:30 a.m. on Silver Spring Drive to Lake Drive to Klode Park. Games, music and food in the park from 12:30 to 8 p.m. Fireworks, 9:15 p.m. in the park. Call (414) 962-6690.

Ouzaukee County

Port Washington: parade, 11 a.m. starting from City Hall. Children may pick up supplies for decorating bikes before the parade at Port Washington State Bank. Bicycle judging, prizes, games and refreshments to follow parade in Veterans Park. Fireworks, dusk in Rotary Park. (262) Call 284-5585.

Saukville: parade, 1 p.m. Bicycle judging, games, music and food at Grady Park after parade. Festivities move to Peninsula Park at 6 p.m. concluding with fireworks at dusk. Call (262) 284-3372.

WASHINGTON COUNTY

Germantown: parade, noon at corner of Pilgrim Road and Francese Drive; Germantown Youth Futures will be collecting non-perishable food items during the parade; activities follow all day at Firemen's Park; fireworks around 9:30 p.m. Call (262) 424-4457.

Kewaskum: food, beverages, music and fireworks at dusk Thursday in River Hill Park. Rain date, Friday. Call (262) 626-8484.

Hartford: parade, 2 p.m. Festivities at Veteran's Park after parade. Fireworks at Lincoln Athletic Park at dusk. Call (262) 673-8298.

West Bend: parade, 9:30 a.m. on Main St. in front of Badger Middle School; ends at Regner Park. Free root beer floats for children 13 and under, costume contests, music and food for purchase in Regner Park following parade. Activities at Riverside Park include performances by the West Bend Dance / Tumbling Troupe beginning at 7 p.m., and fireworks at 9:40 p.m.; best viewing is in Riverside Park. Call (262) 335-5080.

WAUKESHA COUNTY

Big Bend: A community concert featuring the 84th Division Army Band will begin at 5 p.m. Sunday on the grounds of Christ Lutheran Church, W89-W22970 Maple Ave. Date and time for fireworks have yet to be determined.

City of Brookfield: Parade at 10 a.m. Family Fest 6 to 9 p.m. with fireworks at 9:15 p.m. at Mitchell Park.

Town of Brookfield: Parade lineup at 8:45 a.m. in the Elmbrook Church north parking lot, with step-off at 9 a.m. Ice cream, games, square dancing, pie eating contest and food for purchase in Marx Park, 700 S. Barker Road until noon.

Butler: Parade at 2 p.m. Live music and food for purchase from 4:30 to 9 p.m. at Frontier Park, 5251 N. 127th St. Fireworks at dusk.

Chenequa: Fireworks at 9:30 p.m. off the island on Pine Lake.

Delafield: Parade at 10 a.m. starting at Genesee St., continuing to Main St. and to Lapham Peak and ending at the American Legion Hall.

Elm Grove: Fun run/walk at 9 a.m. at the village grounds (registration required). Bike decorating contest at 11 a.m. Flag raising at the Village Hall, noon. Games, 12:30 to 5:30 p.m. Baking contest, 5:30 to 6 p.m. Music at the gazebo, 6 to 9:30 p.m. Fireworks at the village park, 9:40 p.m.

Lac La Belle: Parade at 10:15 a.m. Fireworks 9:30 p.m. Saturday on the west end of Lac La Belle.

Menomonee Falls: Parade at 7 p.m. Thursday. Drum and bugle corps performance following parade at 9 p.m. in the stadium on Woosencraft Drive. Fireworks at 9:30 p.m.

Town of Merton: Parade lineup at 10 a.m. with step-off at 11 a.m. The Lions Club will host an evening festival Thursday and Friday in Stone Bank Park.

Muskego: Food, music, games and picnicking at Idle Isle Park starting about 3 p.m. Thursday. The Water Bugs ski show begins at 6:30 with fireworks at dusk.

New Berlin: Family Festival starts Wednesday at Malone Park, 16400 W. Al Stigler Parkway. The festival grounds will include a carnival and music, opening at 5 p.m. Wednesday and Thursday. Open noon to 11 p.m. Friday. The Wisconsin Singers perform at 6:30 p.m. Wednesday at the Eisenhower High School Auditorium, 4333 S. Sunny Slope Road. On Friday, the parade begins at 1 p.m. on National Ave. at Coffee Road, proceeding to Malone Park, with fireworks at the park at 10 p.m.

Oconomowoc: Fireworks at dusk Thursday at Fowler Park. Rain date Sunday.

Oconomowoc Lake: Fireworks at dusk on Oconomowoc Lake. Rain date, Saturday.

Pewaukee: Bike, tricycle and wagon decorating contest in the morning in Pewaukee Village Park. Parade at 4 p.m. Ski show and live music downtown following parade. Fireworks at dusk.

Sussex: Parade lineup at 9:15 in the Village Hall parking lot for decorated bikes, wagons and strollers. Parade participants will receive ice cream following parade. Music at 7:30 p.m. followed by fireworks at 9:20 p.m. in the Sussex Village Park, W224-N6196 Weaver Drive.

Waukesha: Parade lineup 10:15 a.m. at Cutler Park, 321 Wisconsin Ave. Children's marching and float judging, 10:15 a.m. Bikes, tricycles, wagons and costume judging, 10:30 a.m. Parade begins at 11 a.m. Free ice cream for children who participate in the parade. Fireworks, 9:15 p.m. at the Waukesha Exposition Center, 1000 Northview Road.

Rehaber needed!

2008-07-04T10:31:42Z

We are working with a bank on a new foreclosure in Johnson Creek. This 4-5 bedroom ranch has an extra deep lot. Price should be around $150,000. I sell many of these homes before they even have a sign in the front yard. To sign up to receive a list of foreclosures or more information on this property just send me an email. Brad@ourlocalhometeam.com

Linked in?

2008-07-03T21:26:23Z

Does anyone else use linked in? Do you have any success? I have been slowly adding to my profile and making some good contacts. I love my job because I am able to make so many contacts. If you ever need something done I probally know someone for the job.

Waukesha County flooding and road closures

2008-06-18T09:55:58Z

Please be careful when traveling around the county. Many roads are closed. Here is a map of the closed roads in the county. http://maps.google.com/maps/ms?hl=en&gl=us&ptab=2&ie=UTF8&oe=UTF8&msa=0&msid=110196816935266860667.00044fca0ef031d839458&ll=43.016697,-88.308792&spn=0.373521,0.559616&z=11Please keep everyone in the flooded areas in your hearts and prayers. Many areas are looking for volunteers to help fill sand bags. If you can spare a few hours that would be great

CURRENT FLOOD INFORMATION

Closed County Trunk Highways

Wisconsin Emergency Government - 2008 Flood Information for the Public
Includes DOT incident alerts, Red Cross shelter information and resources for residents affected by severe storms and flooding as well as sandbag disposal guidance.

Wisconsin Department of Natural Resources - Current Flood Information
Includes dam updates, statewide road closures and managing debris and waste after the flood.

Waukesha County Flood Safety Guide - Includes topics: water, hygiene and sanitation, food, sewer and wastewater, injury prevention and mold.

The following links provide information about the Disaster Declaration process and federal disaster assistance available to individuals and municipalities:

COPING WITH FLOODING

Major floods in Wisconsin tend to occur either in spring when melting snow adds to normal runoff or in summer or early fall after intense rainfalls. Flooding can occur after a slow build-up of water causes a river or stream to overflow its banks, or it can occur very rapidly with little notice.

Floods can cause loss of life and severe damage to homes, buildings, crops, and roads. Owners of homes in flood prone areas should purchase flood insurance protection for their homes through an insurance agent. Buying flood insurance to cover the value of a building and its contents will not only provide greater peace of mind, but will also speed recovery if a flood occurs. You can call 1-888-FLOOD29 (1-888-356-6329) to learn more about flood insurance.

If your home is damaged during a flood, you need to be concerned with the structural integrity of the home, electrical safety, food safety, removal and prevention of mold and mildew, and removal and replacement of your home's damaged contents. You should contact your insurance agent to discuss claims and listen to local media outlets for information about assistance the federal or state government or other organizations may be offering.

Basic Safety Tips for Clean-up

Always wear waterproof gloves and boots while cleaning a flood-damaged house.
Never turn on a wet electric appliance. Be careful before using any electrical appliance in a flood-damaged house.
Throw out fresh or frozen food that has come into contact with floodwater.
Thoroughly disinfect food contact sources, such as dishes, countertops, refrigerators, and pantry shelves.
Remove wall-to-wall carpet and padding that has been saturated with floodwater.

FLOOD CLEAN UP
A twenty-page booklet and poster (in Spanish and English) are available online from the EPA that give simple instructions for Safely cleaning your home after a flood.

For much more detailed information about how to clean, disinfect and repair your flooded home, the American Red Cross and FEMA have prepared a 56 page booklet Repairing Your Flooded Home (in Spanish and English).

Wisconsin Department of Health and Family Services Flooding Health and Safety Tips

Federal Communicable Diseases Center (CDC) link to Flood Clean-up Instructions and Potential Hazards

WATER WELLS and SAMPLING
If you are concerned that a flood may have affected your private well, you can get a water test collection kit from the Environmental Health Division several ways:

Call (262) 896-8300 to order a kit using your Visa/MasterCard.
Cost $20.00 + $2.00 postage and handling = $22.00
Mail a check with your return address (payable to "Waukesha County") to Environmental Health Division, 515 W. Moreland Blvd., Room AC 260, Waukesha, WI 53188.
Cost $20.00 + $2.00 postage and handling = $22.00
Pick up a kit at our office during regular hours, Monday-Friday, 8 a.m. to 4:30 p.m. at the address above.
Cost $20.00

If your water sample analysis result is unsafe, the Waukesha County Environmental Health Division will resample your water supply and inspect the visible well construction. Any pump installation deficiencies will require correction.

Wisconsin Department of Natural Resources Recommendations for Wells submerged in floodwaters.

PREPARING FOR A FLOOD
Federal Emergency Management Agency (FEMA) information on How to be prepared in case of a flood.

Jefferson County Flooding

2008-06-18T09:51:03Z

Please be careful when traveling around the county. Many roads are closed. Here is a map of the closed roads in the county. http://www.jeffersoncountywi.gov/UserFiles/Wisconsin/MAP%20Road%20Closures%206-16-2008.pdf

Please keep everyone in the flooded areas in your hearts and prayers. Many areas are looking for volunteers to help fill sand bags. If you can spare a few hours that would be great

Flood Assistance & Information
Cities of Jefferson & Fort Atkinson
Please use these tips for minimal water usage
Do not pump water into drains. Thank you!

I-94 west bound may re-open at the end of the week

Emergency Operations Center (EOC)
Ph.(920) 674-7450 FAX (920) 674-7517
Press Releases
June 14,2008
June 16, 2008
June 17,2008

Flood Pictures

Jefferson County and City Government Facility Info
Suggested Routes to Jefferson Facilities
Suggested Routes from Jefferson Facilities

Road Closure List

Additional Road Closures as of 7:00 p.m. June 17th

Highway 106 West is closed from Fort Atkinson to CTH A
Jefferson Street in Fort Atkinson is closed between Lorman Street & Cramer Street

(920) 674-8648 (800) 762-3947
I-94 Westbound is closed between Highway 83 in Waukesha and Highway 89 in Lake Mills

Jefferson County Road Closure Map

State Road Closures

National Weather Service
Water Level Prediction

Protecting Structures with Sand Bags
Lineal feet needed to be bagged x 12
divided by 20 = number of bags needed per level.

Sand Bags Available
6:00 a.m. - 6:00 p.m.
Jefferson County Parks Shop and Jefferson County Highway Shop.
6:00 p.m. - 6:00 a.m.
Jefferson Police Station and at the Jefferson County Sheriff's Office.

FEMA
Federal Emergency Management Agency
Damage hotline to report damage from flooding
920-674-8695

State of Wisconsin
Press Release

Health Department
(920) 674-7275
Mosquito Bite Protection
Tips for coping with floods
Flood Safety Information
Red Cross
Mold Prevention and Clean Up
Foods, Medicines, Cosmetics...When in doubt, throw it out

Shelter Information
(920) 563-3055
Dog & cat food is available at the shelter for people affected by the flooding.
Clean-up kits and bottled water available to the public at the Jefferson County Fairgrounds.
Clean-up kits, water and hygiene kits available to the public at the Red Cross Shelter in Fort Atkinson.

Sheriff's Department
(920) 674-7310
Slow - No Wake

Farm Service Agency needs crop damage reported to 920-674-2020.

For more info go to http://www.jeffersoncountywi.gov/jc/public/jchome.php

Are you looking for information on Sheriff's Foreclosure Sales?

2008-06-11T16:55:57Z

The Sheriff is a ministerial officer of the Court and is without power to make any terms except those authorized and prescribed by the Court. The Sheriff sells only the judgment debtor's title. If there is no title, the purchaser acquires none. The rule of Caveat Emptor (let the buyer beware) is fully applicable to sales made under execution.

Foreclosure sales are for real property only. The Sheriff's Office does not know whether or not persons occupy the property. Further, we cannot give permission for any prospective bidders to enter and inspect any structure that may be located on the property to be sold.

Properties sold at auction by the Sheriff's Office are generally advertised in local newspapers Notices appear once for each of the six weeks prior to the date of sale.

In addition to newspaper advertising, written notice describing the real estate to be sold will be posted in three public places in the town or municipality where the real estate is to be sold at least three weeks prior to the date of the sale and also in three public places of the town or municipality where the real estate is situated if it is not in the City of Madison.

The Sheriff's Office does not have a list of properties for general distribution. Persons interested in following up on these properties must make their own lists by checking the legal advertisements in the newspapers or the postings.

Sales of property are "open-type" auction sales (no sealed bids). A minimum bid is normally bid in the first round by the Plaintiff.

The successful bidder, upon full payment of the bid, will receive a Sheriff's Deed. This deed may not give clear title to the property. In order to obtain a clear title one must satisfy all superior liens and encumbrances. If a purchaser does not complete the sale, he can be held liable for his deposit, and for all losses and expenses.

If you are interested in a particular piece of property, we recommend a title search before you actually bid.

Private firms conduct title searches. Their telephone numbers may be found in the yellow pages of the telephone directory. A fee is charged.

Should you have a legal question, we recommend you consult an attorney.

If the property you purchase is occupied, it is your responsibility to have the occupants removed.

In most cases the owner can redeem the property, even after the sale, for a period of 10 calendar days from the date of sale. By law the owner can declare bankruptcy within that same period.

CONDITIONS OF SALE

Each property is sold subject to restrictions of record which are unknown to the Sheriff and subject to any unpaid taxes and water bills or assessments, and such state of facts as an accurate survey and physical inspection of the premises may reveal.
The highest bidder at the sale shall be the Purchaser. If any dispute arises as to who may be the highest bidder, the property will be resold.
If you are the successful bidder on a property, you are required to post a deposit of 10% of the total bid price in cash, certified check, or money order immediately after the close of that sale. Certified checks MUST be made payable to: Dane County Clerk of Courts. NO COMPANY, AGENCY OR PERSONAL CHECKS WILL BE ACCEPTED.
The PURCHASER must pay recording fees and Real Estate Transfer Fees.

SOME ADDITIONAL CONDITIONS OF SALE ARE LISTED BELOW THAT MAY BE ANNOUNCED AT THE TIME OF SALE. THIS IS NOT A COMPLETE LIST AND IS PROVIDED AS INFORMATION ONLY.

Subject to any unpaid municipal liens, unpaid taxes and assessments.
Subject to such facts as an accurate survey and physical inspection of the premises will disclose.
Subject to restrictions, reversions, reservations, easements and right of way of record, if any.
Subject to rights of tenants and occupants, if any.
Subject to Federal, State, County and Municipal ordinances, statutes and regulations, including zoning ordinances.
Sold in an "as is" condition.
Subject to the right of the plaintiff to apply to the Court for surplus moneys for sums advanced, with interest thereon since the entry of final judgment, additional advances for taxes and other items have been made by plaintiff. (Amount to be announced.)
The right of redemption of the United States of America as a result of Federal Liens.
If the subject premises is a Condominium, the sale is subject to any unpaid assessments, which may be a lien on the premises, and subject to all applicable provisions of the Master Deed and by-laws of Condominium Association.

There are times when the sale of property is not completed on the date advertised because of adjournments, settlements or bankruptcies. We recommend you call the Sheriff's Office, Civil Process Section on the scheduled date of the sale to determine the status of the sale.

Looking for other business professionals

2008-06-09T19:00:02Z

You are cordially invited to the Kick-Off meeting of the Lake Country chapter of BNI at the Country Springs Hotel located at 2810 Golf Rd., Waukesha, on Tuesday, July 8^th from 7:00 a.m. to 9:00 a.m. We are looking for other professions to pass referrals to.

BNI is a business and professional networking organization whose primary purpose is to exchange qualified business referrals. The organization presently has more than 5,000 chapters in 39 countries around the world including chapters in North America, Europe, Australia, Asia and Africa. Last year, members of BNI passed more than 4.9 million referrals; which generated more than $2,000,000,000.00 (U.S.) worth of business for each other.

What makes BNI unique is that it allows only one person per profession to join a chapter. Thus, once you've joined, none of your competitors can participate.

The BNI Lake Country Chapter is currently looking for other business professionals to whom they can refer business. I would like to personally invite you to the Kick-Off meeting so you can learn more about the organization and find out if you would be interested in generating a steady source of referral business for yourself.

Seating may be limited, so please let me know if you plan to attend; call me at 262-719-7393 and I will reserve a place for you! The fee of $15.00 includes a light Continental Breakfast and beverages. Remember to bring plenty of business cards to pass, as you will meet lots of local business professionals.

Cant sell? Thinking about renting your home?

2008-06-02T08:23:51Z

Many sellers in todays market are considering renting their home if they cant sell it. This could help and it could hurt you. Many families moving into Wisconsin are looking for short term rentals while they wait for their home to sell in other areas. If you are open to renting it out, you may have a buyer 6 months from now. Chances are the renters may want to purchase it just to avoid moving again. However be aware that becoming a landlord takes some time and research. Work with a good real estate attorney or a management firm.

Here are top four concepts accidental landlords should know.

You're not the only with a great idea. There's a reason one-third of homebuyers were investors or second home buyers in 2005 and 2006 -- money flowed like water, so a lot of people had the same idea -- get rich with real estate. Today, those same people are renting the homes they bought, and the sheer numbers are driving rental prices downward.
Underpricing works.. It's more cost effective to keep a property rented than it is to hold out for higher rent. Remember, it's about momentum. The market is a reality check, everybody does comps, but they are history, that's what happened yesterday. "If you have your unit, and the one next door is exactly the same and they're cheaper, their's will rent first."
Meet your tenant. Whether you are using an agency or not, it's crucial to meet your prospective tenant before allowing them to sign the lease. The best thing to do is a walk-through so that you and the tenant can take stock of the condition of the property. The tenant is the custodian of your property. Use your instincts and rely on information other than the credit report. Just make sure you're not violating any fair housing laws. If there are issues from both standpoints, you both need to know.
Understand the true costs of renting vs. selling. Amateur investors think, "My mortgage is this, I should get that." Smart investors understand cash flow. If you declare another property as your homestead, you lose the homestead exemption on your rental. There's insurance, maintenance fees, the cost of make ready and the costs of clean up when the tenant moves out. If you use an agency to rent your property because you're out of state, you could pay as much as one month's rent in fees annually.

You also need to guesstimate your vacancy costs. If you have a property as an investment for the long haul, and you do year-long leases, you probably have two weeks a year where you're not collecting rent, if you're pricing your unit to rent quickly.

Great joke

2008-05-14T10:39:35Z

Why I Fired My Secretary...

Last week was my birthday and I didn't feel very much like waking up that morning. I went downstairs for breakfast hoping my wife would be pleasant and say, "Happy Birthday!" and possibly have a present for me. As it turned out, she barely said good morning, let alone "Happy Birthday."
I thought... well, that's marriage for you, but the kids will remember. My kids came to breakfast and didn't say a word. So when I left for the office I was feeling pretty low and somewhat disappointed. As I walked into my office my secretary Donna said, "Good Morning, Boss, Happy Birthday!" It felt a little better that at least someone had remembered.

I worked until one o'clock and then Donna knocked on my door and said, "You know, it's such a beautiful day outside, and it's your birthday, let's go out to lunch, just you and me."
I said, "Thanks Donna, that's the greatest thing I've heard all day. We went to lunch, but we didn't go where we normally would go. We dined instead at a little place with a private table. We had two martinis each and I enjoyed the meal tremendously.
On the way back to the office, Donna said, "You know, it's such a beautiful day. We don't need to go back to the office, do we?"
I responded, "I guess not. What do you have in mind?"
She said, "Let's go to my apartment."
After arriving at her apartment Donna turned to me and said, "Boss, if you don't mind, I'm going to step into the bedroom for a moment. I'll be right back."
"Ok." I nervously replied. She went into the bedroom and after a couple of minutes she came out carrying a huge birthday cake...followed by my wife, kids, and dozens of my friends and co-workers; all singing "Happy Birthday."
And I just sat there...

On the couch...

Naked.

new law to help banks?

2008-05-14T10:38:31Z

Last week the House passed legislation that aims to refinance troubled mortgages and increase demand among first-time homebuyers. The President has threatened a veto, and the position of the Senate is unclear. http://www.house.gov/apps/list/press/financialsvcs_dem/press050808.shtml But, regardless, at some point federal intervention still appears likely. The policy differences aren't as large as rhetoric implies, and enactment of some type of legislation could slightly help the decline in home prices by reducing the number of foreclosures and increasing demand among first-time homebuyers - at a cost to taxpayers.

There is no agreement on the bill yet as several Republicans view the plans as a bailout for lenders, speculators and irresponsible homeowners. The program involves giving struggling homeowners a new mortgage backed by the FHA. The Democrats believe that it would cost much less compared to the potential government exposure with the Fed's guarantee in the Bear Stearns case, and as mentioned above the president may veto it. On top of Congressional differences, lies the threat of a White House veto of the bill, asking the question, "Why should the taxpayer, through the program, provide a guarantee of principal if lenders agree to reduce the principal of a borrower's current mortgage?" This is a volunteer program by which a mortgage company would be required to write-down the value of a delinquent loan by 15% of the home's current appraised value for borrowers who are 60 days late on their mortgage payments. The bill specifically excludes investors and those that lied about their income on the loan application. The bill also proposes an overhaul of Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks as well as bringing the FHA into the 21st century. Stay tuned as the saga unfolds.

Tuesday 6th mortgage droning: rates unchanged, UBS and DR Horton news

2008-05-06T11:19:35Z

Those of you who are curious about Treasury versus mortgage rate spreads may want to scan this article from the Cleveland Fed. It has some excellent graphs that may be of use in explaining why sometimes Treasury rates don't matter any longer, along with some reasoning why. Plus, it isn't too long, and makes sense.

http://www.clevelandfed.org/research/trends/2008/0508/01ecoact.cfm

UBS said that it plans to cut 5,500 jobs and sell a $15 billion chunk of its risky mortgage assets to BlackRock Inc. The group posted a loss of $10.99 billion with $19 billion of write-downs. 2,600 jobs will be dropped from its investment banking unit by the end of the year and another 5,500 by the middle of next year. The assets? A $15 billion portfolio will be sold to a newly-created distressed-asset fund run by BlackRock Inc. The assets being sold have a nominal value of around $22 billion and are being sold at roughly the price they had been marked-down to on UBS' balance sheet. The bank is also planning to exit its municipal bond business.

Many HELOC's, like Wells Fargo's, have a fixed rate option. You can fix it in for 3-5 years, and with rates relatively low is not a bad idea if a borrower qualifies.

Fannie Mae's earnings are announced later this morning. Speaking of which, Fed chief Ben Bernanke said that Fannie & Freddie should "move quickly to raise significant new capital" to aid the housing market. It appears that he also supports proposals that would have lenders forgiving parts of struggling homeowners' loans and make Federal Housing Administration refinancings more widely available. Freddie & Fannie raised $15 billion of new capital 5 months ago after losing money for six months, and James Lockhart (OFHEO) has mentioned the figure of another $20 billion.

Speaking of billions, has anyone seen D.R. Horton's? The company reported its biggest loss ever ($1.3 billion in their fiscal 2nd quarter) and it wrote down $834.1 million worth of land and inventory.

This week is very light in terms of economic releases scheduled, and the market is doing nothing today with the 10-yr sitting in the low 3.80's and mortgages unchanged from yesterday afternoon. The Labor Department will release its 1st Quarter Productivity and Costs data tomorrow morning. This information helps us measure employee productivity in the workplace. March's Goods and Services Trade Balance report will be released early Friday morning. This report gives us the size of the U.S. trade deficit but likely will not have much of an impact on the bond market or mortgage pricing. It is the least important of this week's data. Perhaps more importantly, we also have Treasury auctions (10-yr tomorrow, 30-yr Thursday) that can influence bond trading and affect mortgage rates.

Robert C. Chrisman Jr.

Director of Capital Markets

NL Inc. Mortgage Companies