mortgage planning: Money Management Skills for a Happy Life
- 03/11/08 08:01 AM
The stronger your money management skills are, the more likely you will live the happy life you want. It doesn't matter if you're Middle Class or a Millionaire, you will probably feel a few dollars short of comfort as some time. You need to have a plan if you are going to win - which are simply having discipline, goals, and desire. Being prepared will help you get where you want to be. Just follow these Seven Savings Strategies: 1. Set Goals - This will help override the impulse to buy something not that important. Write down your plan for short, medium, … (19 comments)
mortgage planning: So you asked for a REVERSE MORTGAGE?
- 07/25/07 05:09 AM
I recently had a realtor I've been working with ask me about Reverse Mortgages. Honestly, I know they're out there but have never had a client to close one with. We are marketing directly in our community and wanting to provide valuable services for everyone. Reverse Mortgage products are a safe and easy way for seniors, age 62 and older to turn their home's equity to meet their specific financial needs. Homeowners: Retain full ownership of their homes.Can live in their homes as long as they choose (as long as tax & insurance is paid current).Do not need income or credit to … (16 comments)
mortgage planning: Is it OK for your Agent to work with COMPETING BUYERS?
- 07/24/07 12:14 PM
It is often that a buyer will search listings on their own. When they find something they want to see they ask their Agent to meet them there and open the property. After watching the market for 6 months, I found some waterfront property back home. I emailed the listing flier to my Agent and asked if she could meet me there first thing in the morning. Now, for me to go "back home" is an all day event at least. It is a minimum 2 hour drive. I rescheduled my calendar for the day and went to view the property. … (34 comments)
mortgage planning: Beware of Scam Artists
- 07/21/07 10:35 AM
With a simple search of "scam" for blogs I found this and thought it would be worth posting. When is the last time you took precautionary measures to educate yourself to BEWARE? As professionals, we should also be reminding our clients of potential dangerous situations. I encourage you to take time to revisit or review these postings: … (16 comments)
mortgage planning: HOME TIPS included in my NEWSLETTER
- 07/19/07 02:04 PM
I write a monthly Newsletter that I send to all my clients and associates. Each month I include a section on Home Tips. Here's how it looks. Do you have anything additional you could suggest I add? Think seasonal safety, weather & disaster preparedness, water leak and fire prevention. 1. January - Keep a multi-purpose fire extinguisher in the kitchen and on each floor of the house. Inspect and recharge if pressure is below the operating range. Review a fire escape plan with your household. 2. February - Install a programmable thermostat to regulate the temperature while you're sleeping or away. Use space heaters or fans … (4 comments)
mortgage planning: Enter a Buyer into a Purchase & Sale Agreement WITHOUT AN APPROVAL?
- 07/19/07 06:17 AM
Has anyone seen this happen? I recently had a client who really wanted a new home, even though I advised them they needed a 620 fico as Self Employed for 100% financing. They were driving through a neighborhood, only to stop at the builder's office to ask more questions. For sake of privacy, we'll call them "4 Corner Homes". The builder/listing office entered the client into a Purchase & Sale Agreement that "would work for them" telling the client it would be "no problem" to qualify by closing. My client didn't have the 10% down they wanted, so they accepted $2,500 and … (7 comments)
mortgage planning: Loan Officer's in WA - REQUIRED LICENSING by 12/31/07
- 07/18/07 07:27 AM
Loan originators doing business in Washington State must be licensed with DFI's Division of Consumer Services. Follow the steps below: Step One: Complete an online license application. The online license application requires you to pay the application fee ($125) with a credit card. Step Two: Mail the following items to DFI: A completed fingerprint card. Fingerprint cards can be obtained from DFI or at your local law enforcement office. Review the fingerprint card instructions (PDF)* on how to complete the cards. A completed paper copy of the MU4 authorization form found on the DFI website. Have it notarized then mail it to DFI with … (0 comments)
mortgage planning: Credit Analyzer & Repair - FREE
- 07/17/07 04:52 AM
When you order your credit report through my secure site I offer FREE tools to help you improve your credit. Privacy & Identify Theft Protection Analyzed Report with several suggestions on how to raise score Letters to Dispute Errors Letters to Request Changes that will improve your score This service is unique to HOPE Lending LLC. We offer this because we truly want our clients to be well prepared when financing a home, and to receive the best rates possible. Many Credit Repair Agencies will charge around $1,000 for this service that we are providing FREE. This is my secure site that … (18 comments)
mortgage planning: Economic Impact on Mortgage Rates
- 07/16/07 02:42 PM
The economic news calendar is normally responsible for moves like this - but with a super thin schedule of reports last week, it was everything else under the sun driving the action. First, Stocks had a terrific week overall - and investors that want to move money into the Stock market logically have to take that money out of somewhere, right? Guess where that somewhere was? Bonds. So the move of money out of Bonds and into Stocks caused Bond pricing and home loan rates to suffer. Though Stocks enjoyed a great week overall, buyers can be fickle, and a day … (10 comments)
mortgage planning: NY Purchase Mobile on Lakefront
- 06/27/07 07:33 AM
I am trying to find a lender that will finance this Owner Occupied purchase of $110k. His Fico is 704 and he is No Doc (I think he is just shy of his business license for 2 years). He has about $100k in assets. He is willing to put down up to $45k. Does anyone know who will lend on a Mobile Home 1975? Other stick built comp's are going for almost $400k. Thank you! … (1 comments)
mortgage planning: Sharing your Business Philosophy may EARN YOU MORE BUSINESS
- 06/23/07 06:40 AM
During the formation of this company, I sat down to write my Philosophy Statement and am so glad I did. I include it with my marketing materials to clients, Agents, and anyone I meet to discuss business together. This has really helped people understand more about who I am and believe in the longevity and integrity being offered. I've received many compliments an thought I'd ask, ARE YOU DOING OFFERING SOMETHING SIMILAR IN YOUR BUSINESS? The H.O.P.E. Lending Philosophy The formation of H.O.P.E. Lending LLC came through sincerity and belief that every individual should have a home of their own, a financial investment … (14 comments)
mortgage planning: Extreme Makeover HOME EDITION - Does anyone else cry when they watch?
- 06/21/07 08:12 AM
I love watching this show as it provides families with a new home. Many families have lost a provider or are suffering from a disease or disability and need help with their home. I seldom cry at movies, but I must say.......each week I look forward to my regular tear-jerker showing one more family a week of happiness! Extreme Makeover Home Edition is really making a difference in the lives of families across the country. This time while watching I thought I'd actually make an effort to get other people pumped about what this show is doing. A member mentioned to find … (14 comments)
mortgage planning: How to get the BEST APPRAISAL
- 06/19/07 08:03 AM
Let's face it, for mortgage lenders this is critical. I'm certainly not saying it isn't important for the client or the Realtor,but here's the issues I face when preparing their mortgage. I'm not an expert with assigning a value to a property. Without a doubt, the Realtor is much better prepared for this than I. Certainly if your home is being sold, one of the first items they provide you is a CMA to price your home. But what if we're doing a refinance? I have been requesting a preliminary value from the appraisersI work with. Respectful of their time, I don't … (21 comments)
mortgage planning: Vacation Home Ownership - One Step Closer to Retirement
- 06/18/07 04:05 PM
Well for all of you that think about it, let me help you get another step closer to doing it! This past weekend I had the priveledge of visiting Desert Aire Resort in Eastern Washington. I really am reminded of what a beautiful state we live in, with everything it has to offer! My host, Rick Moore is an expert Agent for Desert Aire and the King County Eastside. I was delighted to see everything this resort has to offer: In fact, there were two Wineries, an Orchard, and many other fresh farming available. This resort is closer than any other, has more … (0 comments)
mortgage planning: BAIT AND SWITCH - How I got into the Mortgage Industry
- 06/12/07 06:58 PM
When I talk with people I've been sharing success stories and bad experiences. I understand what not to do especially when it's been done to me and I DIDN'T LIKE IT. After reading Monika McGillicuddy's posting on Mortgage Officer referring client...right or wrong?, I am embarassed and upset with the treatment she received. NO - IT IS NEVER OK FOR YOUR LOAN OFFICER TO REFER YOUR CLIENT TO ANOTHER AGENT! There is no excuse. I hope you are able to tell them your disappointment so they understand why this is wrong. I would ask them to keep the business you build together … (16 comments)
mortgage planning: HELP FIRE FIGHTERS with FILL THE BOOT for MDA
- 06/11/07 05:59 PM
It's that time of the year again when our Fire Fighters volunteer their time to go out and stand on a busy intersection corner with their boot out for donations. Thousands of volunteers are out nation wide helping to raise money for the Muscular Dystrophy Association. These lifesaving heroes have also fought to save the lives of those with neuromuscular diseases since 1954. In addition to campaigns like Fill-the-Boot, thousands of fire fighters nationwide volunteer their personal time at MDA summer camp. This is the perfect time to bring your family by and show them our support and appreciation. If you would … (6 comments)
mortgage planning: Prevent Identity Theft & Credit Fraud
- 06/10/07 07:49 PM
Here's the letter I send to my client's after we've pulled their credit report. Privacy Protection & Your Risk of Identity Theft OPT OUT of receiving telemarketing and mass junk mail and decrease your risk of identity theft. Included is the opt out information to protect your privacy and decrease the risk of identity theft. I highly recommend taking a minute to go on line (or call) to complete an opt out form. You will have your name removed from telemarketing lists at www.optoutprescreen.com or by calling 1-888-567-8688. (note: the opt out takes 5 business days to become effective; the opt out will be effective for five years) If I'm currently … (3 comments)
mortgage planning: Credit Dispute Letter Requesting Removal of Inquiries
- 06/10/07 06:53 PM
Re: Unauthorized Credit Inquiry Dear American Express, I recently received a copy of my Equifax credit report. The credit report showed a credit inquiry by your company that I do not recall authorizing. I understand that you shouldn't be allowed to put an inquiry on my file unless I have authorized it. Please have this inquiry removed from my credit file because it is making it very difficult for me to acquire credit. I have sent this letter certified mail because I need your prompt response to this issue. Please be so kind as to forward me documentation that you have had the … (4 comments)
mortgage planning: Credit Dispute Letter Requesting Collection Agency to Validate Debt
- 06/10/07 06:52 PM
Under the Federal Debt Collection Practices Act, you are allowed to challenge the validity of a debt that a collection agency states you owe to them. Use this letter and the following form to make the agency verify that the debt is actually yours and owed by you. Keep a copy for your files and send the letter registered mail. Your Name123 Your Street AddressYour City, ST 01234 ABC Collections123 Street Name AveChicago, IL 99999 Date: Re: Acct # XXXX-XXXX-XXXX-XXXX To Whom It May Concern: I have been the victim of identity fraud, and I believe this debt is one of the debts which resulted from … (1 comments)
mortgage planning: Sample letter requesting a Collection Agency to validate & remove a listing from database
- 06/10/07 06:49 PM
The following is a sample letter requesting a Collection Agency to validate and remove a listing from their database. This letter should only be used after a debt validation attempt has been made. Wednesday, October 04, 2006 Name of CreditorAddress In Re: Your name & Account # Dear Collection Manager: It has come to my attention through the credit bureaus that you claim I owe a debt to your agency. While I have yet to have the debt verified to me as legitimate through my right of the mini Miranda, I can however save us both some effort & time by "Settling the … (2 comments)
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The stronger your money management skills are, the more likely you will live the happy life you want. It doesn't matter if you're Middle Class or a Millionaire, you will probably feel a few dollars short of comfort as some time. You need to have a plan if you are going to win - which are simply having discipline, goals, and desire. Being prepared will help you get where you want to be. Just follow these Seven Savings Strategies:
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