adjustable rates: Congress Makes PMI Tax Deductible: Millions of Borrowers Will Benefit - 05/13/07 02:57 AM
The federal government's Private Mortgage Insurance legislation is great news for the Real Estate Industry! Enacted on January 1st, 2007, the bill makes Private Mortgage Insurance tax deductible for potential borrowers whose personal adjusted gross income is less than $100,000. For millions of home buyers, the bill creates an amazing opportunity to finance a more expensive home or potentially obtain a lower payment for the same-priced home, while reducing annual income taxes by hundreds of dollars.
What is PMI?
Designed to protect lenders from defaults and foreclosures, Private Mortgage Insurance is required for loans exceeding 80% of the property's value or sales price. … (0 comments)

adjustable rates: Protecting Your Credit During Divorce - 05/09/07 01:03 AM
When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn't have to change is the credit status you've worked so hard to achieve.
Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay bills, the maxing out of credit cards, and a total breakdown in communication frequently lead to the annihilation of at least one spouse's credit. Depending upon how finances are structured, it can sometimes have a negative impact on both parties.
The good news is it doesn't have to be this way. By taking a … (0 comments)

adjustable rates: Lead Follow−Up Campaigns- Never Give Up On a Lead! - 05/09/07 12:57 AM
You might wonder, "When is a lead no longer a lead?" A lead is always a lead until the person tells you to stop calling. The key to success in sales is professional persistence. Take time to earn the loyalty of prospects by showing them that you add more value to the equation than anybody else in your field. One critical element to remember about a successful lead follow-up campaign is that it should be easy to implement.
Build a series of letters (i.e., templates) and load them into your database management system. Whether you use Top Producer®, Microsoft® Outlook® or ACT!®* … (3 comments)

adjustable rates: Are You Using Your Voicemail Effectively? - 05/06/07 11:42 PM
Have you ever stopped to consider how many times a new prospect gets your voicemail before they have a chance to speak directly with you? Your voicemail greeting provides an excellent opportunity to create a first impression that can have an enormous impact on whether people decide to use your services. It can also be used as a dynamic marketing tool.
If the first time you called a CPA, Financial Planner, or Real Estate Agent, you heard a voicemail greeting that was energetic, educational and professional, wouldn't that set the proper tone for the rest of the relationship? Very few people take … (10 comments)

adjustable rates: Protect Your Personal Information - 05/03/07 11:54 PM
Did you know that the major credit bureaus sell your personal information? It's true! Known as "trigger leads", the files of borrowers applying for a home loan are immediately flagged, packaged, and sold by the credit bureaus to the highest bidders.
For about $25 to $100 or more, your name and certain specifics about your credit report, including your address, phone number, mortgage history, and even your FICO score range, are sold to unscrupulous mortgage companies which then blindly solicit your business. This results in numerous unwanted phone calls and junk mail offers which are in no way associated with your … (0 comments)

adjustable rates: Communication: Proactive Methods to Improve Business - 05/03/07 11:34 PM
I once heard the expression, "Communication is the lubrication in your organization." That couldn't be truer, especially in the world of business. You simply can't over-communicate when dealing with clients. I find that the best way to eliminate the constant state of reactivity in which most of us work is to employ proactive communication strategies, such as the following:
Make a list of the people with whom you correspond regularly.
Take note of all the recurring questions that you have to answer time and time again. Then ask yourself how you can provide the information to these individuals in advance. For example, let's … (1 comments)

adjustable rates: What Are Points and When Should You Pay Them? - 05/03/07 12:26 PM
Points are up-front fees paid by the borrower to obtain a better interest rate on a loan. One point equals one percent of the loan amount. And while a lower interest rate may result in a lower monthly payment, it is important to consider how long you intend to be in the loan and to compare current interest rates to historical market trends. This will help you to determine whether paying points is a worthwhile investment.
Let's look at a sample scenario. If you take out a $300,000 mortgage and decide to pay one point in order to lower your interest … (1 comments)

adjustable rates: Buy Household Products Online: The Savings will Surprise You! - 05/03/07 01:03 AM
Since its inception, the Internet has caused a fair share of controversy. Some people see it as a valuable tool while others consider it the devil's playground. Wherever you stand, one thing is certain - it has changed our idea of commerce forever.
eBay® is a perfect example. On this website, the economic theory of supply and demand is played out on a daily basis as consumers bid against each other to purchase an array of products. In many cases, items once thought to be rare collectibles are now readily available from a variety of sellers. This is good news for buyers, … (0 comments)

adjustable rates: Sell Yourself to Prospects: Be a Great Listener - 05/03/07 12:55 AM
No matter what type of business you are in, your prospect has the option to select from a variety of competitors within the same marketplace. You must set yourself apart from your rivals, and it all starts by having the ability to listen attentively to each and every new prospect. You must hone in on what their needs are and what their idea of great customer service is.
Have you ever been interested in a product that seemed superior in every aspect, but you just didn't like the pushy salesperson? Learn from their bad example! Let your prospects do the talking, and … (0 comments)

adjustable rates: Countering Objections: Know Why People Say No - 05/01/07 10:29 PM
Not every objection can be overcome, but they can all be countered, so you should always have a rebuttal in store. If you don't have years of experience, or a trainer to guide you, you can find yourself blindsided by the most obvious objections and hesitations.
There are three basic reasons for most objections:
Lack of trust or rapport.
Have you ever decided against a sale because you didn't like the person selling to you? Most people have experienced this at least once. Those of us in sales need to know how to avoid this issue altogether:
 
Don't try too hard. You're not a comedian. … (3 comments)

adjustable rates: Considering a Home Equity Line of Credit? - 05/01/07 02:32 PM
When a bank, mortgage company or credit union approves your home equity line of credit (HELOC), it doesn't give you a check. Instead, you get a checkbook; sometimes you receive a debit card too. You can write checks as you normally would (or use the card), except that each use is really a loan against your HELOC's credit limit.
You can use the HELOC to pay for any expense or purchase, and the bank will start to charge you interest as soon as the card is used or the check is cashed. Although the bank will insist on a minimum monthly payment, … (0 comments)

adjustable rates: Building A Referral Network- How to Reach Out to Those Around You - 04/17/07 04:09 PM
Everyone has heard the expression, "It's not what you know but who you know." Of course this isn't entirely true, but having a successful referral network can lead to a significant increase in satisfied clients with minimal effort on your part.
Have you ever gone into a large home improvement store, trying to find a certain item, only to come face-to-face with a wall of similar products? It can be overwhelming. Imagine if you had an expert right there to tell you what you need to know. Now imagine a team of experts throughout the store, all ready to assist you. … (3 comments)

adjustable rates: A Lesson From A Gazelle and Lion - 04/17/07 01:42 AM
Every day in Africa a gazelle wakes up. It knows that it must run faster than the fastest lion, or it will be killed.
 
Every morning a lion wakes up. It knows that it must outrun the slowest gazelle, or it will starve to death.
 
It doesn't matter whether you are a lion or a gazelle. When the sun comes up, you'd better be running.
Opportunities present themselves every day. If you are a runner (a go-getter), you stand a good chance of capitalizing on them. If you are a walker or a sitter (passive), you will probably not react quickly enough and the … (5 comments)

adjustable rates: Winners vs Losers - 04/16/07 12:17 AM
Winners vs Losers
A winner is always part of the answer. A loser is always part of the problem.
A winner always has a plan. A loser always has an excuse.
A winner says: "Let me do it for you."A loser says: "That is not my job."
A winner sees an answer for any problem. A loser sees a problem for any answer.
A winner sees a green near every sandtrap.A loser sees two sandtraps near every green.
A winner says: "It may be difficult but it's possible."A loser says: "It may be possible but it's too difficult."
(4 comments)

adjustable rates: Renters Have Much to Gain by Pursuing Home Ownership - 04/11/07 02:28 PM
Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage planners will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.
Yes, there are certain responsibilities associated with owning a home. Landlords will often argue the benefits of renting, and for obvious reason. If you are renting, you're helping them make their mortgage payment.
The numbers are staggering if you look at it this way. If you … (0 comments)

adjustable rates: Refinance Your Mortgage for Rate and Payment Reductions - 04/05/07 11:54 PM
One of the biggest reasons homeowners refinance their mortgage is to obtain a lower interest rate and lower monthly payments. By refinancing, the borrower pays off their existing mortgage and replaces it with a new one. This can often be accomplished with a no-points no-fees loan program, which essentially means at "no cost" to the borrower.
In the no-points no-fees scenario, the mortgage planner uses rebate monies paid by the lender to pay off non-recurring closing costs for the borrower. These are "one time" fees such as escrow or attorney fees, title insurance, document preparation, tax service, flood certification, processing and underwriting … (0 comments)

adjustable rates: Getting the Best Interest Rate on Your Home Loan? - 04/03/07 08:27 PM
Consumers interested in purchasing or refinancing a home will pay an interest rate based on current market conditions and their ability to pay back the loan. The borrower's income and debt ratios are taken into consideration by the lender, as well as the predictability factor provided by credit scoring. It's important to have a mortgage planner in your corner that has a keen eye for solutions to improving credit scores in an effort to get the best interest rate possible.
Interest rates associated with various loan programs are broken down into schedules based on credit score ratings. While each lender has … (0 comments)

adjustable rates: Should You Leverage Your Home or Pay It Down Rapidly? - 04/03/07 01:33 AM
There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and pre-paying principal? Let's examine the pros and cons of both strategies.
Leveraging Your Property. In order to understand why you'd want to borrow as much as possible for your home purchase, you must first grasp the concept that equity has a zero rate of return. Here's an example: If Consumer "A" buys a home for $300,000, and puts 20% down, … (1 comments)

adjustable rates: Home Buyers Face Decisions That Affect Their Long-Term Financial Picture - 04/01/07 10:09 PM
Taking the step into home ownership is one of the most important financial decisions a person will make in their lifetime. There are many factors to consider when embarking on this venture. Literally hundreds of loan programs are available, and it is important to find the one that best fits your personal long-term goals.
First and foremost, you must have a mortgage planner in your corner that is willing to take the time to know what your long-term goals are. Communication is the key factor here. Curious prospective home buyers sometimes turn to Internet-based services just to see what current interest rates … (0 comments)

adjustable rates: What To Ask When Shopping For A Mortgage - 04/01/07 02:37 AM
Research is an important component of any large transaction.  I'm sure you'll agree that a home mortgage is one of, if not the largest financial investment a person will make in their lifetime.  I'm sure you'll also agree that given the importance of this investment you would want an industry professional that, quite frankly, knows their industry!  With that in mind here are a few questions to ask a potential mortgage professional to assure yourself that they indeed have a handle on their industry and, directly, your best interests.
What are interest rates based on?  Mortgage interest rates are based on the … (6 comments)

 

John Caylor

Post Falls, ID Mortgages

Post Falls, ID

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Infinity Financial Group

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