I got tagged by Bob and Richelle Ward.

Memes come with rules, so here are the rules for this one:

1. Grab the nearest book

2. Open to page 73

3.Find the 7th sentence

4. Post the text of the next 3-7 sentences

5.Don't pick your favorite book, grab the closest one to you.

6.Tag 5 people to do the same. You can't tag the one who tagged you.

7. The one book that you Can't use is the Bible

 

Playing with paper clip or some other small article. Eyes lowered during discussion.

Whats Happening? Insecure, unsure, prejudging

What to do ? Reassure them. Offer to explainin greater detail. Give recognition. Make them feel important.

 

Tom Hopkins Act Like a Lamb, Sell like a Lion.

The following are memed:

1. Jen Esposito
2. Amy Beck
3. Jess Rankin
4. Karen Monsour
5. Joy McKenzie

I have done this but I only used my business card not the million dollar bill. Go to this site http://www.undercovermarketingsociety.com/ and watch this short video - it will explain everything! 

 Once you sign up for his email newsletters you will learn several more practically FREE ideas on marketing yourself. I really like the one about fall clean up and leaves(Use a Rake) ....

Most of what he shares definitely applies to today's market.

 

Top Eight Things NOT to Do

During Your Loan Process

 

 

1)   Quit your job. Lenders will verify your employment a couple of days prior to funding your loan.

 

2)   Buy a new car or make any other large purchases. The new payment may make it difficult for you to qualify for your mortgage.

 

3)   Stop making payments on your mortgage, credit cards, etc. Falling behind on your current debt can cause your application to be denied.

 

4)   Put your home on the market. Lenders will not lend on a home that is listed for sale.

 

5)   Begin improvements on your home. A home that is currently under construction may be difficult to appraise at its true value.

 

6)   Draw off your home equity line. Your loan approval is based on balances at the time of application. Drawing money on your credit line can affect your approval.

 

7)   File for bankruptcy. Most programs require that you be outside of bankruptcy for at least two years before you can qualify for a loan.

 

8)   Take advice from your mechanic on mortgage programs and rates. Would you take advice from your loan officer on what is wrong with your car? When you need expert advice on mortgage rates and programs, ask your mortgage specialist.

A Birth Certificate shows that we were born

A Death Certificate shows that we died
Pictures show that we lived!

Have a seat . . . Relax . . . And read this slowly .

I Believe...
That just because two people argue,
It doesn't mean they don't love each other.
And just because they don't argue,
It doesn't mean they do love each other.

I Believe...
That we don't have to change friends if
We understand that friends change.

I Believe...
That no matter how good a friend is, they're going to hurt
You every once in a while and you must forgive them for that.

I Believe...
That true friendship continues to grow, even over
The longest distance. Same goes for true love.

I Believe...
That you can do something in an instant
That will give you heartache for life.

I Believe...
That it's taking me a long time
To become the person I want to be.

I Believe...
That you should always leave loved ones with
Loving words. It may be the last time you see them.

I Believe...
That you can keep going long after you think you can't.

I Believe...
That we are responsible for what
We do, no matter how we feel.

I Believe.
That either you control your attitude or it controls you

I Believe...
That heroes are the people who do what has to be done
When it needs to be done, regardless of the consequences.

I Believe...
That money is a lousy way of keeping score.

I Believe...
That my best friend and I, can do anything, or nothing and have the best time.

I Believe...
That sometimes the people you expect to kick you
When you're down, will be the ones to help you get back up.

I Believe...
That sometimes when I'm angry I have the right to be angry,
But that doesn't give me the right to be cruel.

I Believe...
That maturity has more to do with what types of experiences you've had
And what you've learned from them and less to do
With how many birthdays you've celebrated.

I Believe...
That it isn't always enough, to be forgiven by others. Sometimes, you have to learn to forgive yourself.

I Believe...
That no matter how bad your heart is broken the world doesn't stop for your grief.

I Believe...
That our background and circumstances may have influenced who we are,
But, we are responsible for who we become.

I Believe...
That you shouldn't be so eager to find
Out a secret. It could change your life Forever.

I Believe.
Two people can look at the exact same
Thing and see something totally different.

I Believe...
That your life can be changed in a matter of
Hours by people who don't even know you.

I Believe...
That even when you think you have no more to give, when
A friend cries out to you - you will find the strength to help.

I Believe.
That credentials on the wall do not make you a decent human being.

I Believe...
That the people you care about most in life are taken from you too soon.

'The happiest of people don't necessarily have the best of everything;
They just make the most of everything.'

Have a nice day by giving a word of comfort or encouragement to someone that looks like they have it all together because in reality they are just maintaining.

What you make happen for another will happen for you.

We are not all that we should be today, but tomorrow we get a fresh start.

There is Good and Evil in all of us, the one that you feed the most is the Winner.

This month I wanted this month to inform all of you how to wisely  handle earnings from your part-time job. Are you saying "Save It ?" That's right. Take 60 % of what you make from your part time job and open a bank account to start saving for your future. I know what you're saying, "That doesn't leave me anything to go buy clothes or go to mall with my friends," but $40 a week is $160 a month to go have fun with friends . The funny thing is you saved $240 a month which equates to $2880 a year. That may not sound like a lot of money now but if you can do that from 16 until you graduate high school that would be $ 8640 you would have saved. Now if you can do that and not touch it until after 4 years of college it would mean you would have  saved $20,160. That is enough to put down as a down payment on a house. What you don t know is I kept your base pay the same for 7 years and I didn't include any interest that the bank gives you for letting them use your money. I  promise you, your parents are not lying to you when they say they don't want you to make the same mistakes they did, or start when you're young to build a nest egg.

In closing, the figures I used for this article, only had you making $100 a week in pay. Imagine if you made $200 a week, the figures would double. At the end of one year the $2880 would actually be $5760. WOW !!! From a part time job. The amazing and overwhelming shock is that in 7 years your savings would double from $20,160 to $40,320! NOW NOT ONLY DO YOU HAVE ENOUGH TO PUT A DOWN PAYMENT ON A HOUSE, YOU ALSO HAVE ENOUGH TO PAY CASH FOR  A BRAND NEW CAR.

Until next month, take care,  God Bless and live smart.

 

Unlike your current rental payment, much of your mortgage payment may be tax deductible. As a matter of fact, Congress has removed most other tax deductions from the Federal Tax Codes: passive investment losses have been severely restricted, capital gains are assessed at 100% of the gain, state sales tax deductions have also been stricken, and even medical deductions have to be catastrophic to make an impact. Thus, the mortgage interest deduction stands pretty much by itself as the only major tax deduction still available to the middle class.

Although the elimination of other deductions has increased the importance of the mortgage interest and property tax deduction, Congress has lessened the impact of the mortgage interest deduction to some extent. In the past, other interest and local tax deductions helped a taxpayer go over the standard         deduction before the mortgage interest deduction was added. Therefore, the taxpayer was receiving 100% of the impact of deducting mortgage interest.

Please call me at (203) 270-6252 as questions arise.

 

You receive a call about this lead,so you call and you start asking open ended questions, only to find out they are already approved and are closing tomorrow. Do you get mad ? or Do you follow up with a letter like below and hope 6 months down the road they call you for a line of credit, or a refinance.

I hope you all send a letter similar to this so they think of you!!!!

Here is a letter that I use if I am confronted with the aforementioned scenario:

 

September 12, 2008

 

Dear                                      :

 

Thank you for taking the time to talk to me yesterday, and Congratulations on your new home.

I hope it provides you with many memories that last a lifetime. As per our conversation if I can be of any assistance to you in the future please do not hesitate to call me.

 

When you work with me you work with the best team the mortgage business has to offer.  The Mortgage Force team is ready to work quickly accurately and professionally on your loan right now. 

 

Whether you are buying a new home or pulling cash out to improve your existing home,  building an addition, consolidating your debt to free up your monthly cash, buying a second home, or making a sound investment in a rental property,  I can get you the loan you need to make it happen. I am able to provide great rates and outstanding customer service.

 

We have relationships with more than 56 lending institutions, including the top lenders nationally and regionally. This is why I am able to provide you with the best rates and lending programs that fit your needs.

 

Although you may not be in the market for one of our services at this time, you may be in the future or, you may have friends, family or business associates who you personally know that could utilize my services.

 

It's always better to do business with someone you know and trust; a personal connection is better than any advertising. That's why I've enclosed some extra business cards.

 

I am building my business by referrals and you can be confident that when you refer someone to me, they will be treated with the same respect and given the same level of service I would give my own family.

 

I thank you in advance for your cooperation and trust, and I look forward to helping you with all your mortgage needs.

 

Sincerely,

 

 

Scott Blanchard

Loan Officer

Mortgage Force, LLC

Office: 203 270 6252

Fax: 203 270 6255

Cell: 203 312 6910

This is an introduction to buying Bank-Owned Properties. Most buyers do not understand the intricacies involved in buying bank owned or foreclosed properties. There are many things that must be understood before considering these investments. The following are a list of facts and items that you must know. They are the most common elements but are by no means all-inclusive. Prior to making an offer you should request a copy of the bank addendum's and review them carefully.

  

1. UTILITIES: Usually are shut off. The bank wants the buyers to turn on utilities in buyers name prior to city and private home inspections and for appraisal.

  

2. CITY INSPECTIONS: The bank wants the buyer to pay for the city inspection and accept all repairs and conditions prior to closing.

  

3. PRIVATE HOME INSPECTIONS: The bank usually wants all potential buyers to pay for their own private home inspection prior to writing an offer, but may make exceptions.

  

4. RE-WINTERIZATION: If winterized, buyer must pay for de-winterizing and re-winterizing the property up front.

5. CLOSING COSTS: Banks are hesitant to pay much in the way of buyers costs, perhaps 3% at the most. VA or HUD will not pay. If the property is HUD or VA owned they will not provide title insurance or pay transfer taxes.

  

6 EARNEST MONEY DEPOSIT: The deposit monies are usually required to be held by the listing office or title company. Because the buyer's agent does not hold them it is very difficult to get back in case of a dispute. They usually want $1,000 in certified funds. Based on a Pre-Approval from buyer's lender, the bank will try to keep the earnest money even if the buyer's mortgage is denied.

  

7. CLOSING DATE: Banks want a firm closing date within 30-45 days or less. If buyer cannot close by that date, even if no fault of their own, the bank will charge a per diem fee, usually $100 per day.

  

8. CLEAR TITLE: Banks will only give you a Special Warranty Deed and not a Warranty Deed. They may not want to pay for title insurance. If an issue arises after closing you are in a difficult position.

  

9. "AS-IS" CONDITION: The bank is exempt from disclosing defects in the property and limited in Lead Based Paint disclosures. These homes are usually in rough condition and have been vandalized. Expect extensive repairs.

  

10. CERTIFICATE OF OCCUPANCY: The buyer must obtain their own Certificate of Occupancy in order to occupy property in cities that require inspections. Some cities require that a Bond or Escrow be placed with the city prior to issuing a temporary certificate of occupancy. This bond, from $500 to $3,500, may be forfeited to the city if the property is not brought up to code within 6 months of issuance. Some cities will not even allow utilities to be turned on without a deposit.

  

11. NEGOTIATION: It may take several weeks of waiting and negotiating before a bank accepts an offer from you. Offers are usually countered and accepted verbally. The bank considers a verbal offer to be binding on you but not on them. Some bank addendums even have an escape clause for them essentially giving them the right to back out at any time and for any reason right up to closing. Banks do not usually accept really low offers. Instead, they will gradually reduce the asking price until someone takes it.

  

12. EXTRA FEES: Some bank addendums require you to pay the banks real estate agent a fee or bonus of several hundred dollars.

In general, buying a bank owned property is a high-risk venture. A buyer needs about $5,000 to $20,000, in liquid funds, over and above the normal closing costs to even consider buying a bank owned property.

  

  

Mortgage Talking Points...Simplifying the Complicated^TM

$7500 First-Time Homebuyer Income Tax Credit - Great Marketing Tool! 

H.R. 3221.ENR. Sec.3011

 

Now is the time to kick off a major marketing campaign!

 

This Tax Credit is now law. Now, you can use it to seriously increase your business!  But first, let me give you some of the down-and-dirty facts!

 

Highlights

 

• First time homebuyers who purchase a principal residence between 4-9-08 and 7-1-09 qualify for the tax credit.  (It's retroactive for buyers who have already closed-great reason to contact them and let them know about the new benefit.)

• The maximum credit is $7500 OR 10% of the purchase price if lower than a $75,000 sales price.

• If the home is purchased in 2009, homebuyer can elect to amend 2008 tax returns and claim a tax credit.

• Tax credit is "Recaptured" by the IRS, and REALLY an interest-free loan and paid back at 6.667% over a 15-year time period. 

• Always advise your clients to check with an accountant to make sure this tax incentive truly works in their favor.

 

Who Doesn't Qualify!

The following are not eligible for the tax credit:

 

• Non-resident aliens

• Buyers who finance home with tax-exempt mortgage bond programs

• If property is disposed of before end of tax year

• If property ceases to be principal residence before end of tax year

• If property is acquired from a person who is related* to the homebuyer

• If modified Adjusted Gross income exceeds 95,000 (individual) or $170,000 (joint)

• Credit phases out for individual Adjusted Gross Income between $75,000 - $95,000, and between $150,000 - $170,000 for joint filers

(Special rules apply for Washington D.C.)

 

Provided to you courtesy of:  Mortgage Force, LLC   Scott Blanchard                                              Phone: 203 270-6252 Loan Officer                                                    Fax:     203 270-6255 14 Church Hill Road                            Email: Scott_Blanchard@sbcglobal.net  Newtown, CT 06470                                      www.mortgageforce.com

 

 

 

 

 

Copyright © 2008    Reprinted with permission   MortgageCurrentcy.com

                       

 

  

 

Mortgage Talking Points...Simplifying the Complicated^TM

  

  

Page 2 - $7500 First-Time Homebuyer Income Tax Credit -

Great Marketing Tool! 

H.R. 3221.ENR. Sec.3011

 

Further Definitions

 

1. First Time Homebuyer - The definition of "first time homebuyer" is NOT the same as it is for other government programs.  Either your client had ownership interest in a primary residence with the last 3 years or not.  And it's from settlement date to settlement date; the date of the sales contract is irrelevant.

 

1. Loan Types - Nothing about this is loan specific.  It applies to FHA, VA, Fannie, Freddie, non-conforming, whatever. 

 

1. Income Tax Credit - This is a tax CREDIT, and NOT a tax deduction. It doesn't matter if the qualified homebuyer's entire tax burden is less than $7,500 or even $0.00.  However, tax returns must be filed to claim a refund.

 

1. *Purchase from "Related" person Ineligible - I wish I could help more, but the part about buying from a "related" person is mixed up in all kinds of tax codes.  If you have a client buying from any type of relative - they've got to talk to an accountant.

 

1. House becomes NOO - It's clear, the second the home becomes non owner-occupied or sold, the whole remainder of the credit is "called in due".  What's great is that if the borrower buys another primary residence within two years, they go back to the "15 year payback" schedule.

 

It's another matter for an accountant to facilitate this transaction on the homebuyer's tax returns.  But it's also a selling point for someone who's serious about using this credit.

 

1. Recapture sell home - Very nice to know that the borrower doesn't have a pay back if the homebuyer loses money on the home.  Or that the maximum total recapture, including what they've already paid, is limited to the actual gain when/if they sell the home. (Accountant time again.)

 

Municipal Bond Loans - Can't do it.  If the borrowers finance using a bond program such as the State Housing Program, etc., they do NOT qualify for this credit. 

 

Check out ApartmentToolKit.com to order apartment mailing lists and view a free sample postcard pertaining to the $7,500 Income Tax Credit.

 

CONTACT ME FOR COMPLETE DETAILS

AND HOW WE CAN MARKET THIS PROGRAM TOGETHER!

 

 

 

Notice and Disclaimer:  This is written and condensed from HR 3221, the "Housing and Economic Recovery Act of 2008," which was signed into law by President Bush 7-30-08.  This particular section is relative to IRS tax code.  MortgageCurrentcy.com worked diligently to accurately analyze and make sense of the legislation.  Both MortgageCurrentcy.com and I work hard to provide information that is trustworthy and of benefit to you, but none of the parties presenting this information is an attorney or an accountant and do not guarantee the interpretations.  Any actions you choose to take on the information provided should first be approved by legal or financial counsel.

Copyright © 2008    Reprinted with permission   MortgageCurrentcy.com

CLIENT SURVEY YOUR OPINION MATTERS!

 

                                                                           

What was the best part of your home loan experience?

 

 

 

Was there anything we could have done to serve you better?

 

 

 

Would you recommend your loan officer to others?  Why or why not?

 

 

 

Any other thoughts you would like to share?

 

 

 

With your permission, we may send some materials to your HR department to inquire as to the possibility of having a home financing seminar at your place of business.  If we are able to make an appointment, we will send you a gift certificate to show our thanks!J

 

May we share this survey with others?           YES       or       NO

 

May we share this survey with your HR?       YES       or       NO

 

Your Name(s)  ____________________________________

 

 

 

Scott Blanchard - Loan Officer

14 Church Hill Rd. Suite A4   Newtown, CT 06470

Cell (203) 312 6910    Office (203) 270 6252    Fax (203) 270 6255

Scott@mortgageforce.com