Monday, October 29, 2007
You Cant Steal In Slow Motion-Real Estate Deals Wait For No One
Charlene and her daughter Tanya wanted more out of life than their small two bedroom one-bath apartment could provide. Tanya had been begging for a cocker spaniel puppy for two years now. Apartment rules would not allow a dog. The laundry facilities were downstairs and at the far end of the building. Laundry tended to back up until the weekends when at an odd hour, in order to schedule an uninterrupted couple of hours as to avoid the rush on the washer and dryers. Many times the dollar changer was out of change. So upon leaving work, Charlene would need to make a special trip to the bank to load up on quarters. She had her paycheck direct deposited so this was a real pain. Anyway, with thin walls sleep was a real luxury and many a night, in spite of complaints to management, she got little sleep. Last week, someone had broken into her car by breaking her window and stole her radio. How no one had seen or heard the commotion was amazing. The police theorized that the thief must have wrapped something around the striking tool to blunt the sound. Insurance only covered a part of the loss. The apartment scene was really wearing thin on Charlenes last nerve.
It was 6:00 AM and the fun was about to begin. Tanya, being in the fourth grade had qualified for a special magnet school with advanced studies but was almost an hour away. They would have to leave no later than 7:00 AM to arrive at the school and allow for time to get to work.
Work was going fantastic for Charlene. With a base salary of $36,000 at a local well-known health maintenance company which allowed Charlene to make an additional $50,000 in sales commissions. Charlene had been rewarded with sales awards for performance for the past two years. With the divorce and protracted child custody issues, Charlenes credit had hit bottom. Chapter 13 bankruptcy had been considered, but with the great years at work, Charlene pleaded with her creditors to set up a payback program so that she could dig out of the deep financial hole. In mediation, Charlene had made a deal in the custody that her ex-husband would keep the house but would relinquish his battle for full custody. Demetrious, her ex-husband was slow on the mortgage payment, and further put Charlenes credit rating under attack. Eighteen months ago, Charlene went back to court to enforce the property settlement where her ex-husband was to refinance the mortgage and get Charlene off the mortgage obligation. Demetrious was fighting this as the rate on a B/C subprime loan with six thirty-day lates was going to be 3% higher than the sweetheart loan he had. The judge ordered him to make it happen.
It had been fourteen months ago since the mortgage obligation showed a paid status on her credit report. It was a tough road rebuilding Charlenes credit but she was getting close to getting things paid off. She had not been able to save anything due to the credit payback plan. Demetrious had run up a lot of the credit card debt, but Charlene was fully on the hook for it as they were joint accounts. Charlene and Tanya felt like they were getting close to making big changes.
Charlene had been attending a Home Buying Clinic sponsored by her church for the past year. Fortunately, childcare was available at the church during the three hour sessions. Tanya was able to do a little studying as well in a far corner of the large room. Budgeting, credit repair, together with the home buying advice was all being discussed. Charlene had been doing well on her plan, but her middle credit score still hovered around 570. At the last meeting Mr. Wilson discussed many of the opportunities to buy a home with creative financing. Charlene pressed Mr. Wilson for more details. Charlene asked Mr. Wilson, who happened to be a Real Estate Broker and a Mortgage Broker, if that might work for her. After class, Mr. Wilson took Charlenes information and shared with her that she may have a shot at doing something right away. Charlene went on to explain, she wanted to get something closer to work and to Tanyas school.
Mr. Wilson said he would call tomorrow with some possibilities. Charlene had already shared with Mr. Wilson that she needed a minimum of three bedrooms, two baths with a large garage and fenced in back yard in the area previously mentioned.
At work the next day, it was 10:00 AM and Mr. Wilson was on the line sharing with Charlene that he had identified six vacant home in the area with some good sales pressure on the seller to do something ASAP. Mr. Wilson had called each listing agent and explained that he had a qualified buyer and went on to share that if the buyer paid the listing price inquired whether the seller would pay all the closing costs and prepaids AND would hold a 5% Loan To Value second mortgage. Charlene, with her credit score and history could get a 95% Loan To Value loan.
Four turned Mr. Wilson down flat. Two owners indicated through their agents that they may have an interest. There was a three and a four-bedroom home available. Charlene looked at both of them and preferred the four bedroom as it would allow for an in home office and a separate bedroom for her mom when she visited from out of state. Tanya was excited with her room and large yard. The owner had left a washer and dryer. No quarter slots were visible. Charlene asked Mr. Wilson if he could make this happen. Mr. Wilson emphatically yes. He went on to explain if not this one another one in this soft real estate market. Mr. Wilson asked Charlene if she wanted to think about it. Charlene said no, lets do it, now. Mr. Wilson wrote up the offer on the spot. The list price was $245,000 with taxes of $3,500 and insurance of $2,400. Due to the 570 credit score and past history, the new mortgage would need to be a subprime B/C loan with a 2years fixed at 8.75% then becomes adjustable for the next 28 years. The first mortgage of $232,750 at 8.75% would give a payment of $1,831.05/month. The seller held second mortgage would be $245,000 x 5% = $12,250 with a rate of 9.0% on a 10 year term and a three year balloon would have a payment of $144.18/month. The total payment then would be $1,831.05/month on the first mortgage + $144.18/month on the 2nd mortgage + $291.67 in taxes + $200/month insurance with a total payment of $2,466.90/month for principal interest (on both loans) and taxes and insurance. Charlenes gross income of $7,166.67 verifiable over a two year period with current year to date income indicating the commissions continuing and now with minimal debt her debt to income ratio to qualify for the loan was calculated at $2,466.90 PITI + $350 debts = $2,816.90/$7,166.67 = 39.30%. The lender guideline was at 50% Debt To Income Ratio. Charlene had made her rent on time for the last 12 months and although her payment shock was $1,400 higher per month over the rental amount, her fully documented income more than demonstrated the ability to repair. The seller accepted the offer with a three week closing. Charlene had to write a Letter Of Explanation (LOE) explaining what had happened in the past for her credit problems and what she had done to turn it around and have given it to Mr. Wilson to share with the lender underwriter. Mr. Wilson explained with a good two year mortgage history and other good credit payments that her score would go up and on the two year mortgage anniversary he would be able to seek a much better rate and a lower payment through a rate and term refinance. Mr. Wilson explained the area would experience some appreciation even in the current soft market.
The listing agent had called Mr. Wilson explained the owner was moaning about the fact that two other offers had come in slightly less than the list price without the benefit of the owner holding a second mortgage. Mr. Wilson shook his head confirming once again, deals wait for no one.
It was moving day. Charlene and Tanya left the apartment for the last time and met the movers at the new home. Charlene put the key in the door and pushed it open to view her new home. Charlene picked up Tanya with a big hug and swung her around with her legs flying in the air for three full turns. Big grins were plastered on their faces. A door slammed and Charlene and Tanya went back to the door. It was Mr. Wilson. He had a box with him and a huge smile. He knelt down to Tanya and slowly opened the box. It was a six-week-old cocker spaniel. Charlene, put her hands over her mouth to conceal her joy and just nodded in Mr. Wilsons direction and said, thanks for everything Mr. Wilson. Thank you.
Dale Rogers
http://www.sellerhelpsbuyer.com
http://www.brokencredit.com
Dale Rogers is a thirty-year mortgage veteran and frequent contributor to the Broken Credit Blog. The BCB is a free website created to assist the general public with information about credit repair and responsible mortgage lending.Mortgage Lead Transfers
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It was 6:00 AM and the fun was about to begin. Tanya, being in the fourth grade had qualified for a special magnet school with advanced studies but was almost an hour away. They would have to leave no later than 7:00 AM to arrive at the school and allow for time to get to work.
Work was going fantastic for Charlene. With a base salary of $36,000 at a local well-known health maintenance company which allowed Charlene to make an additional $50,000 in sales commissions. Charlene had been rewarded with sales awards for performance for the past two years. With the divorce and protracted child custody issues, Charlenes credit had hit bottom. Chapter 13 bankruptcy had been considered, but with the great years at work, Charlene pleaded with her creditors to set up a payback program so that she could dig out of the deep financial hole. In mediation, Charlene had made a deal in the custody that her ex-husband would keep the house but would relinquish his battle for full custody. Demetrious, her ex-husband was slow on the mortgage payment, and further put Charlenes credit rating under attack. Eighteen months ago, Charlene went back to court to enforce the property settlement where her ex-husband was to refinance the mortgage and get Charlene off the mortgage obligation. Demetrious was fighting this as the rate on a B/C subprime loan with six thirty-day lates was going to be 3% higher than the sweetheart loan he had. The judge ordered him to make it happen.
It had been fourteen months ago since the mortgage obligation showed a paid status on her credit report. It was a tough road rebuilding Charlenes credit but she was getting close to getting things paid off. She had not been able to save anything due to the credit payback plan. Demetrious had run up a lot of the credit card debt, but Charlene was fully on the hook for it as they were joint accounts. Charlene and Tanya felt like they were getting close to making big changes.
Charlene had been attending a Home Buying Clinic sponsored by her church for the past year. Fortunately, childcare was available at the church during the three hour sessions. Tanya was able to do a little studying as well in a far corner of the large room. Budgeting, credit repair, together with the home buying advice was all being discussed. Charlene had been doing well on her plan, but her middle credit score still hovered around 570. At the last meeting Mr. Wilson discussed many of the opportunities to buy a home with creative financing. Charlene pressed Mr. Wilson for more details. Charlene asked Mr. Wilson, who happened to be a Real Estate Broker and a Mortgage Broker, if that might work for her. After class, Mr. Wilson took Charlenes information and shared with her that she may have a shot at doing something right away. Charlene went on to explain, she wanted to get something closer to work and to Tanyas school.
Mr. Wilson said he would call tomorrow with some possibilities. Charlene had already shared with Mr. Wilson that she needed a minimum of three bedrooms, two baths with a large garage and fenced in back yard in the area previously mentioned.
At work the next day, it was 10:00 AM and Mr. Wilson was on the line sharing with Charlene that he had identified six vacant home in the area with some good sales pressure on the seller to do something ASAP. Mr. Wilson had called each listing agent and explained that he had a qualified buyer and went on to share that if the buyer paid the listing price inquired whether the seller would pay all the closing costs and prepaids AND would hold a 5% Loan To Value second mortgage. Charlene, with her credit score and history could get a 95% Loan To Value loan.
Four turned Mr. Wilson down flat. Two owners indicated through their agents that they may have an interest. There was a three and a four-bedroom home available. Charlene looked at both of them and preferred the four bedroom as it would allow for an in home office and a separate bedroom for her mom when she visited from out of state. Tanya was excited with her room and large yard. The owner had left a washer and dryer. No quarter slots were visible. Charlene asked Mr. Wilson if he could make this happen. Mr. Wilson emphatically yes. He went on to explain if not this one another one in this soft real estate market. Mr. Wilson asked Charlene if she wanted to think about it. Charlene said no, lets do it, now. Mr. Wilson wrote up the offer on the spot. The list price was $245,000 with taxes of $3,500 and insurance of $2,400. Due to the 570 credit score and past history, the new mortgage would need to be a subprime B/C loan with a 2years fixed at 8.75% then becomes adjustable for the next 28 years. The first mortgage of $232,750 at 8.75% would give a payment of $1,831.05/month. The seller held second mortgage would be $245,000 x 5% = $12,250 with a rate of 9.0% on a 10 year term and a three year balloon would have a payment of $144.18/month. The total payment then would be $1,831.05/month on the first mortgage + $144.18/month on the 2nd mortgage + $291.67 in taxes + $200/month insurance with a total payment of $2,466.90/month for principal interest (on both loans) and taxes and insurance. Charlenes gross income of $7,166.67 verifiable over a two year period with current year to date income indicating the commissions continuing and now with minimal debt her debt to income ratio to qualify for the loan was calculated at $2,466.90 PITI + $350 debts = $2,816.90/$7,166.67 = 39.30%. The lender guideline was at 50% Debt To Income Ratio. Charlene had made her rent on time for the last 12 months and although her payment shock was $1,400 higher per month over the rental amount, her fully documented income more than demonstrated the ability to repair. The seller accepted the offer with a three week closing. Charlene had to write a Letter Of Explanation (LOE) explaining what had happened in the past for her credit problems and what she had done to turn it around and have given it to Mr. Wilson to share with the lender underwriter. Mr. Wilson explained with a good two year mortgage history and other good credit payments that her score would go up and on the two year mortgage anniversary he would be able to seek a much better rate and a lower payment through a rate and term refinance. Mr. Wilson explained the area would experience some appreciation even in the current soft market.
The listing agent had called Mr. Wilson explained the owner was moaning about the fact that two other offers had come in slightly less than the list price without the benefit of the owner holding a second mortgage. Mr. Wilson shook his head confirming once again, deals wait for no one.
It was moving day. Charlene and Tanya left the apartment for the last time and met the movers at the new home. Charlene put the key in the door and pushed it open to view her new home. Charlene picked up Tanya with a big hug and swung her around with her legs flying in the air for three full turns. Big grins were plastered on their faces. A door slammed and Charlene and Tanya went back to the door. It was Mr. Wilson. He had a box with him and a huge smile. He knelt down to Tanya and slowly opened the box. It was a six-week-old cocker spaniel. Charlene, put her hands over her mouth to conceal her joy and just nodded in Mr. Wilsons direction and said, thanks for everything Mr. Wilson. Thank you.
Dale Rogers
http://www.sellerhelpsbuyer.com
http://www.brokencredit.com
Dale Rogers is a thirty-year mortgage veteran and frequent contributor to the Broken Credit Blog. The BCB is a free website created to assist the general public with information about credit repair and responsible mortgage lending.Mortgage Lead Transfers
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Mutual Funds - A Secure Investment
Mutual funds are a collection of stocks and/or bonds invested in different securities, which include fixed market securities and money market instrumentals. It facilitates investors to put their money under an efficient investment management. There are three types of mutual funds namely, income funds, growth funds, and balanced funds.
The basic principle underlying mutual funds is to pool in money with other people to convert it into funds. Mutual funds generally buy shares in stocks wherein an experienced fund manager performs the task of selecting, purchasing and selling off the stocks himself. Certificates are then issued to the shareholders as a testimony of proof of their partnership and participation in the emoluments of funds.
There are particularly three ways in which you can make money from a mutual fund. They are:
1. Benefits can be earned from the commission on stocks, and interests on bonds. All the income received all round the year is paid by the funds in the form of a distribution.
2. The fund will have an outstanding benefit provided the funds sell high priced securities. Most of the profits are given back to the investors in a distribution.
3. The value of the funds share automatically increases with an increase in the value of unsold high priced fund holdings. Accordingly, you can always sell shares of your mutual fund for profits.
Many people find investing in mutual funds an attractive option to that of dealing directly with the stock market because it is comparatively safe. In fact, these days, mutual funds have become the first preference of many investors. Mutual funds provide a balanced and better approach compared to conventional stock market alternatives. It has an added advantage of investing in several distinct sectors and firms, so, if one company suffers losses, the others may be rising. Investing in mutual funds, therefore, minimizes the loss-bearing risk of monetary assets.
In a nutshell, here are the salient points of the advantages of mutual funds:
1. Cost-effectiveness of investing in mutual funds: The main advantage of investing in mutual funds is the efficient management of your finances. Investors buy funds because they lack the competence and time to manage their own portfolio. It is a cost effective method, especially for a small investor because it is expensive to get a manager to manage individual investments.
2. Diversification: Compared to individual stocks or bonds, mutual funds diversify the risk of bearing loss. The basic intention being to invest in a diverse number of assets in order to overcome the negatives of loss making stocks or bonds by the profits reaped by others.
3. Economy of Scale: The transaction expenses are relatively low as a mutual fund is bought and sold in large amounts of credits.
4. Liquidity: Mutual funds provide the opportunity of converting shares into cash at any point of time.
5. Simplicity: It is easy to buy a mutual fund. Most companies have their own automatic purchase plans, and the minimum investment rates are very small.
Therefore, investing in mutual funds is certainly a secure investment as the chance of loss is spread out, and the opportunity for gains are numerous. At the same time, it is both cost-effective and an investment that gives great future returns.
The days of depending on government largesse in meeting old age financial requirements are growing dimmer by the day. Hence, investing in mutual funds can be a wise choice, especially for those who plan for an early retirement and hope to enjoy a secure senior citizenship.
Joe Kenny writes for the UK Loans Store offering UK secured loans and offer more information on UK bad credit loans and other loan topics available on site. Visit Today: http://www.ukpersonalloanstore.co.ukMortgage Lead Transfers
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The basic principle underlying mutual funds is to pool in money with other people to convert it into funds. Mutual funds generally buy shares in stocks wherein an experienced fund manager performs the task of selecting, purchasing and selling off the stocks himself. Certificates are then issued to the shareholders as a testimony of proof of their partnership and participation in the emoluments of funds.
There are particularly three ways in which you can make money from a mutual fund. They are:
1. Benefits can be earned from the commission on stocks, and interests on bonds. All the income received all round the year is paid by the funds in the form of a distribution.
2. The fund will have an outstanding benefit provided the funds sell high priced securities. Most of the profits are given back to the investors in a distribution.
3. The value of the funds share automatically increases with an increase in the value of unsold high priced fund holdings. Accordingly, you can always sell shares of your mutual fund for profits.
Many people find investing in mutual funds an attractive option to that of dealing directly with the stock market because it is comparatively safe. In fact, these days, mutual funds have become the first preference of many investors. Mutual funds provide a balanced and better approach compared to conventional stock market alternatives. It has an added advantage of investing in several distinct sectors and firms, so, if one company suffers losses, the others may be rising. Investing in mutual funds, therefore, minimizes the loss-bearing risk of monetary assets.
In a nutshell, here are the salient points of the advantages of mutual funds:
1. Cost-effectiveness of investing in mutual funds: The main advantage of investing in mutual funds is the efficient management of your finances. Investors buy funds because they lack the competence and time to manage their own portfolio. It is a cost effective method, especially for a small investor because it is expensive to get a manager to manage individual investments.
2. Diversification: Compared to individual stocks or bonds, mutual funds diversify the risk of bearing loss. The basic intention being to invest in a diverse number of assets in order to overcome the negatives of loss making stocks or bonds by the profits reaped by others.
3. Economy of Scale: The transaction expenses are relatively low as a mutual fund is bought and sold in large amounts of credits.
4. Liquidity: Mutual funds provide the opportunity of converting shares into cash at any point of time.
5. Simplicity: It is easy to buy a mutual fund. Most companies have their own automatic purchase plans, and the minimum investment rates are very small.
Therefore, investing in mutual funds is certainly a secure investment as the chance of loss is spread out, and the opportunity for gains are numerous. At the same time, it is both cost-effective and an investment that gives great future returns.
The days of depending on government largesse in meeting old age financial requirements are growing dimmer by the day. Hence, investing in mutual funds can be a wise choice, especially for those who plan for an early retirement and hope to enjoy a secure senior citizenship.
Joe Kenny writes for the UK Loans Store offering UK secured loans and offer more information on UK bad credit loans and other loan topics available on site. Visit Today: http://www.ukpersonalloanstore.co.ukMortgage Lead Transfers
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Protection From a Home Invasion
If you have a lot of jewelry, valuable documents, cash or other negotiable items, consider installing a safe or a burglar alarm. Don't leave notes for service people or family members on the door, these act as a welcome mat for a burglar.
Trees located near windows or shrubbery that might shield a burglar from view can be major flaws in your home-protection plan. Consider your landscaping plan in light of your protection needs. Keep shrubs trimmed below windows to reduce cover. A burglar would rather enter through a window that is hidden from view than one where he is exposed.
A door with too much space between the door and the frame is an invitation for the burglar to use a jimmy. Reinforce the door with a panel of 3/4-inch plywood or a piece of sheet metal. It is also easy for a burglar to pry through rot. Replace rotted door frames with new, solid wood. When installing a window lock, drip some solder on the screw heads. It will stop a burglar from unscrewing the lock after cutting a small hole in the windowpane.
When you are away or traveling have neighbors, friends or family pick up your mail or even better contact the post office to hold your mail. Employ someone to mow your lawn, use your garbage cans, and park in your driveway when you are away. Even if a burglar knows you are away, the activity around your home will act as a deterrent. Consider an investment in a monitored home security system as they are a very effective deterrent against crime. The home security system that you install need not be a state-of -the art. For the most effective alarm system, conceal all wiring. A professional burglar looks for places where he or she can disconnect the security system.
Some individuals even will place a home security system sticker in their window even though you don't have a security system. The sticker may be enough to cause a thief to pass your house. Put up a security system sign or beware of dog sign and make it visible from the road. Believe it or not it is a proven deterrent.
Use simple safety systems to protect your home. Use locks and other mechanisms to lock the doors that are difficult to break. The longer the burglar takes to break into the house, the greater the chances that he will be caught. Use multiple locks for the doors and windows. At minimum utilize a double locking system for all doors and windows.
If there are door hinges on the outside of your house, take down the door and reset the hinges inside. Otherwise all a thief has to do to gain entry to your home is knock out the hinge pin.
It's simple for a thief to break glass panels and then reach in and open a doorknob from the inside. A door with glass panels should be either fortified, replaced, or secured with dead bolts that can only be opened with a key. Secure sliding glass doors with bars or locks, or put a wooden dowel or broom handle in the door track.
Dogs are good deterrents to burglars. Even a small, noisy dog can be effective burglars do not like to have attention drawn to their presence. Be aware, however, that trained guard dogs do not make good pets. Obedience training and attack training are entirely different, and only the former is appropriate for a house pet.
Think like a burglar. Put yourself in his shoes and find out the weak spots in the house from where the burglar can enter the house. When you do this you will be able to find the weak spots and can protect your home better. For example stand outside the window of your living room. Look at all the valuables in the room that a burglar can take. See how you can hide them, from view or rearrange them, in other rooms where they are not visible. Use hasp with protective covers for locks. This mechanism will make it more difficult for the burglar to break into the house. Have a home burglar alarm security system fitted in your house to protect your home.
Plan to "burglarize" yourself. You'll discover any weaknesses in your security system that may have previously escaped your notice.
Copyright 2006 Francesca Black
Francesca Black develops educational material for http://www.security-port.com and http://www.security-protection.net a top resource for locating security related RSS feeds.Mortgage Lead Transfers
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Trees located near windows or shrubbery that might shield a burglar from view can be major flaws in your home-protection plan. Consider your landscaping plan in light of your protection needs. Keep shrubs trimmed below windows to reduce cover. A burglar would rather enter through a window that is hidden from view than one where he is exposed.
A door with too much space between the door and the frame is an invitation for the burglar to use a jimmy. Reinforce the door with a panel of 3/4-inch plywood or a piece of sheet metal. It is also easy for a burglar to pry through rot. Replace rotted door frames with new, solid wood. When installing a window lock, drip some solder on the screw heads. It will stop a burglar from unscrewing the lock after cutting a small hole in the windowpane.
When you are away or traveling have neighbors, friends or family pick up your mail or even better contact the post office to hold your mail. Employ someone to mow your lawn, use your garbage cans, and park in your driveway when you are away. Even if a burglar knows you are away, the activity around your home will act as a deterrent. Consider an investment in a monitored home security system as they are a very effective deterrent against crime. The home security system that you install need not be a state-of -the art. For the most effective alarm system, conceal all wiring. A professional burglar looks for places where he or she can disconnect the security system.
Some individuals even will place a home security system sticker in their window even though you don't have a security system. The sticker may be enough to cause a thief to pass your house. Put up a security system sign or beware of dog sign and make it visible from the road. Believe it or not it is a proven deterrent.
Use simple safety systems to protect your home. Use locks and other mechanisms to lock the doors that are difficult to break. The longer the burglar takes to break into the house, the greater the chances that he will be caught. Use multiple locks for the doors and windows. At minimum utilize a double locking system for all doors and windows.
If there are door hinges on the outside of your house, take down the door and reset the hinges inside. Otherwise all a thief has to do to gain entry to your home is knock out the hinge pin.
It's simple for a thief to break glass panels and then reach in and open a doorknob from the inside. A door with glass panels should be either fortified, replaced, or secured with dead bolts that can only be opened with a key. Secure sliding glass doors with bars or locks, or put a wooden dowel or broom handle in the door track.
Dogs are good deterrents to burglars. Even a small, noisy dog can be effective burglars do not like to have attention drawn to their presence. Be aware, however, that trained guard dogs do not make good pets. Obedience training and attack training are entirely different, and only the former is appropriate for a house pet.
Think like a burglar. Put yourself in his shoes and find out the weak spots in the house from where the burglar can enter the house. When you do this you will be able to find the weak spots and can protect your home better. For example stand outside the window of your living room. Look at all the valuables in the room that a burglar can take. See how you can hide them, from view or rearrange them, in other rooms where they are not visible. Use hasp with protective covers for locks. This mechanism will make it more difficult for the burglar to break into the house. Have a home burglar alarm security system fitted in your house to protect your home.
Plan to "burglarize" yourself. You'll discover any weaknesses in your security system that may have previously escaped your notice.
Copyright 2006 Francesca Black
Francesca Black develops educational material for http://www.security-port.com and http://www.security-protection.net a top resource for locating security related RSS feeds.Mortgage Lead Transfers
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10 Reasons Why You Should Be Using Postcards in Your Mortgage Business
10 Reasons Why You Should Be Using Postcards in Your Mortgage Business
You've done your due diligence and put together a great list of 50, or 100, or maybe even 500 contacts in your database. Now it's time to keep your name in-front of these folks so that they'll think of you when it comes time for them to make a mortgage decision.
Remember, about 1 in 6 contacts on your list will be making either a purchase and mortgage decision, or a refinance mortgage decision this coming year...and, every year there after. Even with a list of 50 contacts, that's about 8 mortgage opportunities for you in the months ahead.
What's the most effective way to do that? The answer: Set up your own unique postcard marketing system. Here are 10 reasons why you should be using postcards to originate mortgages:
1. Postcard marketing is very affordable. A year-long postcard marketing campaign to each name on your mailing list costs about $6.00 per contact per month.
2. Postcards are inexpensive to print. Use an Avery perforated postcard stock and print four cards from each 81/2" X 11" sheet. Each postcard will be 51/2" by 41/4."
3. Postcards are extremely effective. Because there's no envelope to open, your message is almost certainly read.
4. Postcard marketing is flexible. Send one type of postcard to your mortgage customer list, another to your professional list such as Attorneys, and another to your new contact list
5. Postcard marketing enhances your branding. A continuous postcard mailing campaign will effectively build your reputation and status as an expert in both mortgage and credit matters.
6. Postcard results are easy to track. Just send your postcard to a small group of people on your list, follow-up with them, and see how they respond. If you're satisfied with your results, then go for the larger mailing.
7. Postcard marketing is secretive. Unless you added the mortgage company next door to your contact list, your competition doesn't have a clue about the details of your marketing program.
8. Postcards are saved. Yes, many postcards do end up in the ultimate place of honor...the refrigerator door. Certainly a very fitting end to your well designed, colorful, and informative postcard.
9. Postcards can be redeemable. Promote a mortgage guarantee or a certificate towards either an appraisal or closing costs...and, have them return the postcard to you for redemption. The whole idea is to give people an incentive to save the postcard and do business with you.
10. Postcards are versatile. Postcards don't always have to be mailed. Use them as handouts, mini-information sheets, publication and book inserts, bulletin board items, and a host of other ways that promote your mortgage business.
Postcards can be a strategic tool to help grow your mortgage business. Design and implement your marketing program to include postcard marketing, and you'll forever reap the rewards.
Tom Domin is the author of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter that is geared for Mortgage Professionals. You can sign-up by visiting http://www.mortgagemarketingtoolkit.com/.Mortgage Lead Transfers
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You've done your due diligence and put together a great list of 50, or 100, or maybe even 500 contacts in your database. Now it's time to keep your name in-front of these folks so that they'll think of you when it comes time for them to make a mortgage decision.
Remember, about 1 in 6 contacts on your list will be making either a purchase and mortgage decision, or a refinance mortgage decision this coming year...and, every year there after. Even with a list of 50 contacts, that's about 8 mortgage opportunities for you in the months ahead.
What's the most effective way to do that? The answer: Set up your own unique postcard marketing system. Here are 10 reasons why you should be using postcards to originate mortgages:
1. Postcard marketing is very affordable. A year-long postcard marketing campaign to each name on your mailing list costs about $6.00 per contact per month.
2. Postcards are inexpensive to print. Use an Avery perforated postcard stock and print four cards from each 81/2" X 11" sheet. Each postcard will be 51/2" by 41/4."
3. Postcards are extremely effective. Because there's no envelope to open, your message is almost certainly read.
4. Postcard marketing is flexible. Send one type of postcard to your mortgage customer list, another to your professional list such as Attorneys, and another to your new contact list
5. Postcard marketing enhances your branding. A continuous postcard mailing campaign will effectively build your reputation and status as an expert in both mortgage and credit matters.
6. Postcard results are easy to track. Just send your postcard to a small group of people on your list, follow-up with them, and see how they respond. If you're satisfied with your results, then go for the larger mailing.
7. Postcard marketing is secretive. Unless you added the mortgage company next door to your contact list, your competition doesn't have a clue about the details of your marketing program.
8. Postcards are saved. Yes, many postcards do end up in the ultimate place of honor...the refrigerator door. Certainly a very fitting end to your well designed, colorful, and informative postcard.
9. Postcards can be redeemable. Promote a mortgage guarantee or a certificate towards either an appraisal or closing costs...and, have them return the postcard to you for redemption. The whole idea is to give people an incentive to save the postcard and do business with you.
10. Postcards are versatile. Postcards don't always have to be mailed. Use them as handouts, mini-information sheets, publication and book inserts, bulletin board items, and a host of other ways that promote your mortgage business.
Postcards can be a strategic tool to help grow your mortgage business. Design and implement your marketing program to include postcard marketing, and you'll forever reap the rewards.
Tom Domin is the author of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter that is geared for Mortgage Professionals. You can sign-up by visiting http://www.mortgagemarketingtoolkit.com/.Mortgage Lead Transfers
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Soundproofing Your Basement
In todays world, basements are no longer simply places to store things like a glorified garage. With the price of housing ever on the rise, many people are converting their basements into rental spaces where they can make a little extra income each month. There are also a lot of folks who want to create a refuge space for reading or meditation or even a home theater in their basements. In this article I am going to talk about soundproofing your basement from the tenants below or from the noise transmitted by a home theater.
The first order of business is to talk about the ceiling. Many times pipes and conduits as well as electrical and cable lines run between the joist cavities in a basement ceiling. A lot of people feel that need to have access to these components, but in order to achieve great soundproofing, there devices need to be sealed up by constructing a sealed drywall ceiling below. If you are concerned about the plumbing and wiring, have a professional come in before your drywall in your new ceiling. Remember that 90% of your plumbing and wiring is behind drywall and if there are problems with them then naturally the drywall will need to be removed. My point here is that if the plumbing and wiring has been inspected and given a clean bill of health, then go ahead and seal up the ceiling below.
Generally most basement areas have low ceilings which prevents us from installing a fully floated ceiling, however there is always room for materials like mass loaded vinyl that can be stapled or nailed directly to the bottom of the joists like a membrane. You will caulk all of the seams as well as around the entire perimeter of the MLV using a good quality acoustical caulk, stay away from cheap silicone caulks, they do not work as well.
Once the MLV membrane is caulked and sealed properly, it is advised that you also tape the seams with a lead tape or a mass loaded vinyl sealer tape. You will tape directly over the dried caulk. Now it is time for a layer of drywall. I would recommend a layer of 5/8 fire code drywall. This application will stop most of the airborne sound transmission and some of the impact noise from above, but the best way to alleviate the majority of the footfall or impact noise is to float your ceiling using sound clips and metal furring channels. I will talk more bout them in subsequent articles.
There is one other method for soundproofing a basement ceiling that I will briefly discuss. Instead of using the mass loaded vinyl, consider installing 2 layers of sheetrock with a layer of Green Glue applied between the 2 layers. Heres how it works. First you make sure you have your batt insulation in place between the joist cavities, this is only necessary if your need the thermal protection of the insulation. Next you would screw in a layer of 5/8 drywall. Always screw in your drywall; never nail it in especially in a ceiling application. Then you will lay out your second layer of 5/8 drywall on saw horses, but on this layer you will apply 3 tubes of a product called Green Glue top the backside of the drywall. Green Glue is a visco elastic damping compound that is used to deaden or dampen the existing drywall and the newer layer that is being installed. You could apply only 2 tubes of Green Glue per 4 X 8 sheet of drywall, however using 3 tubes per sheet of drywall is much better for soundproofing. Once you have applied the Green Glue to the backside of the second layer of drywall, you will simply screw in the second layer directly over top of the first layer. A little hint here is to screw the second layer of drywall down as tightly as possible without pulling the screw through the drywall, this will insure the best dampening possible of both pieces of drywall.
After that second layer of drywall and Green Glue are installed, you will simply tape mud and texture the ceiling as you would a normal ceiling. Well, thats all there is to soundproofing a basement ceiling. For more information about soundproofing a ceiling, walls or floors, read my subsequent articles or simply call a reputable soundproofing company, they will be glad to help you. Until next time, this is Dr. BobOut!
Dr. Bob is the Senior Technical Advisor at Soundproofing America Inc, the leading authority in Soundproofing and Acoustical treatment technology.Live Mortgage Leads
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The first order of business is to talk about the ceiling. Many times pipes and conduits as well as electrical and cable lines run between the joist cavities in a basement ceiling. A lot of people feel that need to have access to these components, but in order to achieve great soundproofing, there devices need to be sealed up by constructing a sealed drywall ceiling below. If you are concerned about the plumbing and wiring, have a professional come in before your drywall in your new ceiling. Remember that 90% of your plumbing and wiring is behind drywall and if there are problems with them then naturally the drywall will need to be removed. My point here is that if the plumbing and wiring has been inspected and given a clean bill of health, then go ahead and seal up the ceiling below.
Generally most basement areas have low ceilings which prevents us from installing a fully floated ceiling, however there is always room for materials like mass loaded vinyl that can be stapled or nailed directly to the bottom of the joists like a membrane. You will caulk all of the seams as well as around the entire perimeter of the MLV using a good quality acoustical caulk, stay away from cheap silicone caulks, they do not work as well.
Once the MLV membrane is caulked and sealed properly, it is advised that you also tape the seams with a lead tape or a mass loaded vinyl sealer tape. You will tape directly over the dried caulk. Now it is time for a layer of drywall. I would recommend a layer of 5/8 fire code drywall. This application will stop most of the airborne sound transmission and some of the impact noise from above, but the best way to alleviate the majority of the footfall or impact noise is to float your ceiling using sound clips and metal furring channels. I will talk more bout them in subsequent articles.
There is one other method for soundproofing a basement ceiling that I will briefly discuss. Instead of using the mass loaded vinyl, consider installing 2 layers of sheetrock with a layer of Green Glue applied between the 2 layers. Heres how it works. First you make sure you have your batt insulation in place between the joist cavities, this is only necessary if your need the thermal protection of the insulation. Next you would screw in a layer of 5/8 drywall. Always screw in your drywall; never nail it in especially in a ceiling application. Then you will lay out your second layer of 5/8 drywall on saw horses, but on this layer you will apply 3 tubes of a product called Green Glue top the backside of the drywall. Green Glue is a visco elastic damping compound that is used to deaden or dampen the existing drywall and the newer layer that is being installed. You could apply only 2 tubes of Green Glue per 4 X 8 sheet of drywall, however using 3 tubes per sheet of drywall is much better for soundproofing. Once you have applied the Green Glue to the backside of the second layer of drywall, you will simply screw in the second layer directly over top of the first layer. A little hint here is to screw the second layer of drywall down as tightly as possible without pulling the screw through the drywall, this will insure the best dampening possible of both pieces of drywall.
After that second layer of drywall and Green Glue are installed, you will simply tape mud and texture the ceiling as you would a normal ceiling. Well, thats all there is to soundproofing a basement ceiling. For more information about soundproofing a ceiling, walls or floors, read my subsequent articles or simply call a reputable soundproofing company, they will be glad to help you. Until next time, this is Dr. BobOut!
Dr. Bob is the Senior Technical Advisor at Soundproofing America Inc, the leading authority in Soundproofing and Acoustical treatment technology.Live Mortgage Leads
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Mars and Venus - Part I: Sales people are from Mars, Buyers are from Venus - Introduction
Many of you are probably familiar with John Gray's famous relationship book, "Men are from Mars, Women are from Venus". In his book, he talks about how to overcome the different way men and women think and indeed often act. Buyers and sellers also have different viewpoints, and not knowing how your audience makes decisions can be disastrous.
This series of articles, will take you inside the mind of buyers, to help you fulfil their needs, to create successful commercial relationships. Buyers, like sales people, are also focused on WIIFM, What's in it for me.
What is a successful commercial relationship?
My definition of a successful relationship is as follows: "Where 2 or more parties engage with each other for mutual benefit over a period of time". I know that it is true we have people who are related to each other by blood. For this article, these relationships are ones of choice!
I distinguish here between a once off transaction and a relationship. By forging relationships, both parties gain. The purchaser gains, in so far as they find someone that they can trust, whose offerings satisfy their needs and wants, while removing their pains. In addition the cost of purchase is less than the value that the buyer puts on the product. In other words they feel that it is good value, and are more likely to return for more of the same or similar products.
The vendor or selling company should also gain, as long as their offering is profitable. Indeed it is in their best interests to truly delight their customers, so not only do they form 1-1 relationships, but also 1-many relationships through referrals.
How do sellers typically think?
Most sellers' thinking is normally influenced by pressure of some sort or other. This may be an owners desire to grow their business, a bank threatening to foreclose, a salesperson's quarterly quota, or an image of that tropical island, that you can retire to free of all financial worries.
This means that most people go into a sales call, with a desired "outcome", which is either a sale or getting a step closer to a sale. This also means that salespeople, without this attitude, are often accused of being poor "closers".
But when you go into a meeting desperate to close a sale, does that mean your buyer is thinking the same way? Do they have a timescale linked to yours? Probably not!
So how do buyers typically think?
Yes, buyers are focused on an "outcome", which may indeed be ownership of the offering that you are trying to hawk. But you can be pretty certain that in most cases, it is for very different reasons.
Buyers, like sales people, are also focused on WIIFM, What's in it for me. Since only one of you is going to end up owning, what ever is for sale, you have to think differently!
The buyer's timescale is going to be influenced by when they can start getting the benefit, from their purchase. This is driven by a need, want or pain that they perceive. Whether or not this perception is real, is something the sales person should definitely attempt to ascertain.
How to bridge the gap, to sell successfully
Unless the person selling, has something that the buyer really wants (I mean we always seem to be on that end of the stick, don't we?), then it is going to be up to the sales person to help the buyer along.
Traditionally, this was done by pitches and presentations. In other words, engaging in a monologue with your customer. That is what marketing is for! At a sales meeting, for every moment you are speaking, you are NOT learning about your customer's needs, wants or pains.
And most specifically, you are not learning HOW your prospect buys.
Ask them some questions about what they want, what they really, really want! I mean there are a couple of reasons that a man might walk into a lingerie shop!
Conclusion
Only when you know what your customer's needs, wants and pains, through active questioning, can you be sure that you are in a position to establish a relationship.
But what if they still think differently from you? This series of articles will explore the different psychological buying patterns or your customers, and help you to identify how they make decisions.
Mars and Venus II - "Moving towards" or "Moving away from"!
Mars and Venus III - How does Venus know they got it right?
Mars and Venus IV What makes sense to buyers?
Mars and Venus V - Buyers and Sellers Want to Close the Sale for Different Reasons
All too often sales people assume that buyers use the same criteria to make a purchase as they would. This can lead to frustration and indeed some serious self doubt on a sales person's behalf. "They just don't get it", you may think to yourself. The reality is that not everyone thinks the same way. This is the first in a series of articles that looks at how you make choices, your customer makes choices, and how to realign your sales strategy, should they be different to you.
If you can't wait for the rest of the articles, and really want to create specific questions, to get into the mind of your prospects, so that you can create long lasting and profitable customer relationships, contact me now, and ask for a 3R sales and marketing assessment.
This article was written by Peter Lawless, founder of 3R Sales and Marketing http://www.3r.ie. For previous articles like this, visit 3R's Articles. Alternatively, subscribe to Success our free monthly Information Bulletin with sales and marketing articles.Mortgage Lead Programs
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This series of articles, will take you inside the mind of buyers, to help you fulfil their needs, to create successful commercial relationships. Buyers, like sales people, are also focused on WIIFM, What's in it for me.
What is a successful commercial relationship?
My definition of a successful relationship is as follows: "Where 2 or more parties engage with each other for mutual benefit over a period of time". I know that it is true we have people who are related to each other by blood. For this article, these relationships are ones of choice!
I distinguish here between a once off transaction and a relationship. By forging relationships, both parties gain. The purchaser gains, in so far as they find someone that they can trust, whose offerings satisfy their needs and wants, while removing their pains. In addition the cost of purchase is less than the value that the buyer puts on the product. In other words they feel that it is good value, and are more likely to return for more of the same or similar products.
The vendor or selling company should also gain, as long as their offering is profitable. Indeed it is in their best interests to truly delight their customers, so not only do they form 1-1 relationships, but also 1-many relationships through referrals.
How do sellers typically think?
Most sellers' thinking is normally influenced by pressure of some sort or other. This may be an owners desire to grow their business, a bank threatening to foreclose, a salesperson's quarterly quota, or an image of that tropical island, that you can retire to free of all financial worries.
This means that most people go into a sales call, with a desired "outcome", which is either a sale or getting a step closer to a sale. This also means that salespeople, without this attitude, are often accused of being poor "closers".
But when you go into a meeting desperate to close a sale, does that mean your buyer is thinking the same way? Do they have a timescale linked to yours? Probably not!
So how do buyers typically think?
Yes, buyers are focused on an "outcome", which may indeed be ownership of the offering that you are trying to hawk. But you can be pretty certain that in most cases, it is for very different reasons.
Buyers, like sales people, are also focused on WIIFM, What's in it for me. Since only one of you is going to end up owning, what ever is for sale, you have to think differently!
The buyer's timescale is going to be influenced by when they can start getting the benefit, from their purchase. This is driven by a need, want or pain that they perceive. Whether or not this perception is real, is something the sales person should definitely attempt to ascertain.
How to bridge the gap, to sell successfully
Unless the person selling, has something that the buyer really wants (I mean we always seem to be on that end of the stick, don't we?), then it is going to be up to the sales person to help the buyer along.
Traditionally, this was done by pitches and presentations. In other words, engaging in a monologue with your customer. That is what marketing is for! At a sales meeting, for every moment you are speaking, you are NOT learning about your customer's needs, wants or pains.
And most specifically, you are not learning HOW your prospect buys.
Ask them some questions about what they want, what they really, really want! I mean there are a couple of reasons that a man might walk into a lingerie shop!
Conclusion
Only when you know what your customer's needs, wants and pains, through active questioning, can you be sure that you are in a position to establish a relationship.
But what if they still think differently from you? This series of articles will explore the different psychological buying patterns or your customers, and help you to identify how they make decisions.
Mars and Venus II - "Moving towards" or "Moving away from"!
Mars and Venus III - How does Venus know they got it right?
Mars and Venus IV What makes sense to buyers?
Mars and Venus V - Buyers and Sellers Want to Close the Sale for Different Reasons
All too often sales people assume that buyers use the same criteria to make a purchase as they would. This can lead to frustration and indeed some serious self doubt on a sales person's behalf. "They just don't get it", you may think to yourself. The reality is that not everyone thinks the same way. This is the first in a series of articles that looks at how you make choices, your customer makes choices, and how to realign your sales strategy, should they be different to you.
If you can't wait for the rest of the articles, and really want to create specific questions, to get into the mind of your prospects, so that you can create long lasting and profitable customer relationships, contact me now, and ask for a 3R sales and marketing assessment.
This article was written by Peter Lawless, founder of 3R Sales and Marketing http://www.3r.ie. For previous articles like this, visit 3R's Articles. Alternatively, subscribe to Success our free monthly Information Bulletin with sales and marketing articles.Mortgage Lead Programs
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