One of the ActiveRain Challenges this month is the "Winter Olympics, Mindset and Preparation". For this ActiveRain Challenge we are asked to:
"Share what you have been doing to get ready for your busiest time of the year. Tell about how you stay focused and the extra effort you put into making sure you'll reap great benefits. Describe when your busy time starts and how you will be mentally prepared, physically ready and skillfully poised to take on the business."
In order for me to have a successful Spring Market and finish strong, My Spring Mortgage Market Preparation will normally start in December and continue through March.
My Spring Mortgage Market Preparation tends to be the same every year, and it involves preparing my Borrowers based on their readiness to purchase. I equate their readiness to purchase to the 3 Olympic Medals which for the purpose of this challenge I will refer to as a Gold Borrower, Silver Borrower, and Bronze Borrower.
- Gold Borrower - is a Borrower who is well qualified to purchase right now, but wants to wait until the Spring to purchase. With these Borrowers the preparing for the Spring Market consists of having them focus on not doing anything which would create issues, and prevent them from being able to purchase a home in the Spring. This would involve not doing anything which would negatively impact their credit or financial position.
- Silver Borrower - is a Borrower who is almost in a position to purchase, but still needs to work on improving their credit scores and reducing debt in order to be able to purchase in the price range they desire. Preparing these Borrowers can normally be done quickly, and without a lot of effort on their part. So the Winter months leading up to the Spring is a perfect time to get everything in place, and position them to purchase a home in their desired time frame.
- Bronze Borrower - is a Borrower who has credit and financial issues, which could possibly be corrected in time for the Spring, but more realistically it will require a few more months. These Borrowers require more of my attention and hand holding than Gold or Silver Borrowers preparation. How quickly these Borrowers are in position to purchase, depends on how motivated and committed they are to becoming homeowners. I will provide the coaching, but it is up to them to execute what they have been instructed to do.
The goal of My Spring Mortgage Market Preparation is always to get all Borrowers into the Gold Metal category. This goal even applies to those Borrowers who do not make it on the medal podium, and may be an Olympic away from competing for a metal.
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