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Psst!! Can your lender do this...??

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Mortgage and Lending with Mission Hills Mortgage Bankers

Good morning to all. Hope your holiday's are joyful thus far.

I have designed this blog to give lenders, brokers and Real Estate agents a centralized place to find and share solutions for those hard to close deals. Many real estate offices and brokers have lenders that they have worked with for many years. Loyal relationships are critical in our industry. But it is wise to always have a plan B. Let's face it, we can't all close all the deals we have been able to in the past.

Even though the real estate and lending markets have come to a slow crawl, there are still homes to be sold, and families to help. Why not add..."If I can't do it, I know someone who can"...to your sales pitch. This will make you a miracle worker in the eyes of your client. Isn't that the goal? I assure you, this will have an enormously positive impact on your referral rate.

Here you will can post questions, comments and ideas in response to your fellow bloggers. I'll get the ball rolling. Do you have a listing that just doesn't seem to sell? Is your seller tired of constant price reductions? I have a program that could help. If your seller has at least 7% equity in their home, or the equivalent in cash in the bank, my program will attract the buyers like bee's to honey. I will also prevent any, or further, need to reduce the sales price. It can also help to stabalize values in the neighborhood.

 

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Kerry Cannon
Mission Hills Mortgage Bankers - Riverside, CA

Good Afternoon!! It is a beautiful big cloud day here in the Inland Empire. We are finally getting some over due rain. I received an email today that I thought was worth sharing. I am including the link to the webpage that contains the information I received as an email. I requested specific permission to re-use the information wholely or partly, but have not had a response yet.

This is great news especially for those who will require over 80% LTV loans in the coming months. This advantage can also be used by FHA borrowers and FHA Secure borrowers. As we all know, MI is better, these days, than and 2nd mortgage. The whole payment amount is tax deductible and usually, after about 2.5 to 5 years, the MI requirement is automatically dropped when the initial loan to value amount drops below 80.01%. When the value market recovers, homeowners with MI can have their home reappraised and if the new appraised amount shows a less than 80.01% loan to value, the homeowner can request the MI be dropped immediately.

Everyone needs a little help here and there, where ever they can get it. I am very pleased to see so many trying to do something help.

Here is the link: http://view.ecommunications-genworth.com/?j=fe601572716d0d7e7416&m=ff001071716402&ls=fdf811757562077575177571

Happy Reading!!

Dec 19, 2007 07:59 AM