tom-beaty.com views on real estate

The U.S. Department of Housing and Urban Development (HUD) has created a type of home loan that is becoming one of the most sought after around the U.S. The Reverse Mortgage is a private loan which is federally insured and a kind of home loan that keeps a part of the homeowner’s equity converted into cash.

Senior citizens make use of it as their financial security. Unlike the usual mortgage loans, HUD’s Reverse Mortgage doesn’t require you to prove a sufficient income to qualify for a loan. Reverse Mortgage doesn’t mind your current income and your age to assess your ability to borrow a certain amount.

Together with the interest rate and the appraisal value, everything will depend on how old you are. What’s best in this kind of loan is that it doesn’t require you to make payments soon, because it won’t be due as long as the house acts as your own principal residence.

But how does the processing of this mortgage become available to seniors? First, you would need to be at least 62 years of age. No required minimum income or credits, but surely there are some other requirements a borrower should understand if he/she qualifies for the loan.

Investing money and time in processing this application should be put into consideration. You should possess and occupy a house as part of the requirement for you to qualify. This will act as your home where you primarily reside during the whole terms. You will also need to have an approved counseling from HUD before and after finalization of HUD application.

This usually lasts for about 45 minutes with an HUD counselor. It will give you all the explanations that you will need and the requirements to attain a reverse mortgage. This is fully supported by a lot of lenders, and is approved by HUD so that the borrower is fully aware of what reverse mortgage is and how it is processed.

A borrower should also understand that other forms of assets he or she possessed are not, by any means, affected by HUD’s Reverse Mortgage Loan. And if you are wondering if the debt can be passed along to an estate or an heir, it’s not going to work. Most commonly, some of the related taxes and charges at hand are also best considered especially for those seeking a financial help through reverse mortgage. Generally, any favorable interest charges is not deductible until a loaned amount is fully paid and, at the end of its terms.

Accordingly, when the homeowner dies, or if the homeowner plans on selling the property, or if the conditions of the loan varied; the reverse mortgage can then be paid off along with the proceeds of the property. It can also be refinanced by the homeowner’s heir with a varying cost of regular mortgage. It all depends on the type of reverse mortgage the homeowner has applied for.

At the end of the day, the first thing you have to consider is whether or not you have the financial capacity and the willingness to acquire all necessary application requirements to get your loan approved.

April Kerr owns website Capital Financial PA which has details of 15 Year Home Loan Rates and Current Refinance Mortgage Rates.

If you’re interested in getting a mortgage, you need to educate yourself about it. Take in all that you can and make wise decisions to avoid being swindled. One of the dynamics that can help you a lot in the decision making is to use a mortgage calculator. Other than helping you in saving some money, a mortgage calculator can assist you in figuring out how much you can borrow or if you already have one, you can assess how fast you can finish repaying what you’ve borrowed if you decide to increase your payment.

Using a mortgage calculator doesn’t require you to be an expert. As you can just key-in all the information about your mortgage and the amount you want to convert. The mortgage calculator will then calculate for you the amount you will be able to borrow.

There are different types of mortgage calculators. There’s the simple mortgage calculator and the simple mortgage refinance calculator. The mortgage calculator lets you input all the information about your income, your payment amount, loan and debt information. After entering all these information, the mortgage calculator will then give you the amount that met your requirements. The mortgage calculator will also send to you the tax information for your mortgage as well as your monthly payment.

Mortgage calculators normally requires you to answer the following: your monthly income, that is your salary or wage and if you have other additional earnings; your monthly housing expenses, like property taxes and hazard insurances; your other monthly expenditures, like credit cards or auto payments; and the terms of the loan and interest rates.

Finding a mortgage calculator is easy enough to find. A simple search through the web can generate the best sites that offer mortgage calculators. Just make sure that the site you’re looking is secured before entering you personal information. Try testing different mortgage calculators as well with similar amounts to see the both the similarities and differences of each calculators. Before making final decisions do your assignment and research about it to get the most out of it. Finding the right one can really make the difference.

Having a mortgage calculator is good for you, especially if you’re a getting a loan for the first time. There are some instances in where you’ll need a mortgage specialist to help you with all the computations in your loan. But utilizing a mortgage calculator can help you save time and money in hiring for a specialist since the mortgage calculator can do the job for you.

These are just some of the benefits of having a mortgage calculator. A good mortgage calculator can help you improve your financial status and the lifestyle you have right now. Using one can definitely give you accurate information about the loan you’re getting and a definite means to save you a lot of money. So if you’re planning to get a mortgage then don’t forget to acquire a calculator. If you already have one then it’s not too late to find a calculator for you.

April Kerr owns website Capital Financial PA which is all about different types of mortgages, 30 Year Fixed Rate Mortgages and Current Mortgage Rate Trends.

The mortgage industry is one that you can also earn a lot of money from as a marketer. Of course, you’d have to understand the different types of mortgages first, and one of the most important types you’d have to concentrate on is reverse mortgages.

Understanding the Basics of Reverse Mortgages
The most effective step for any marketer to take prior to selling a product is to understand what it offers, identify its market, and determine its benefits. This works just as well when you wish to try your hand in reverse mortgage marketing.

Eligibility and Market for Reverse Mortgages
Not everyone is qualified to acquire a reverse mortgage. To qualify for one, you’d have to be at least sixty-two years old and possess ownership - either full or partial ownership is acceptable - of your home. As such, the market for reverse mortgages is mostly made up of retiring and retired individuals.

How Reverse Mortgage Works
When your application for a reverse mortgage gets approved, it will be taken out of your home but the loan doesn’t have to be the payable while you continue to live in the mortgaged property. The only time you’re liable to pay off the mortgage is when you’ve relocated from your home, sold the property, or you’ve passed away.

Home Equity to Cash
Reverse mortgages mainly allows you to convert home equity into much needed cash. You have several options as to how you wish to obtain the cash from your reverse mortgage.

Lump Sum
You can choose to receive the loan in one lump sum. This option, like all others, has its share of pros and cons. On one hand, receiving a lump sum payment of your mortgage allows you to take care of pressing needs. It could be a medical emergency, a debt being suddenly called, or just about any situation that requires you to be in possession of large funds. On the other hand, choosing a lump sum payment when you really don’t need to have a large amount of money with you could be disadvantageous. You might end up being tempted to spend or waste it and once that happens, you’ll be back at square one and pressed to take out a second mortgage on your home.

Monthly Advances
If a lump sum payment is unnecessary then maybe you’d prefer to receive regular advances every month. It will somewhat require you to live within a budget, but it also allows you to keep the rest of your money safe and consequently, provide you with a regular source of money.

Credit Line
Finally, you can speak with your reverse mortgage provider and dictate as to when you can receive payments from your mortgage and how much of the money available should be released. This puts you in control with certain restrictions to ensure that you don’t end up using all your money.

Never a Debt
Another benefit of taking out a reverse mortgage is that it’s designed to prevent the mortgage from turning into a debt. The available cash balance from your home will always be a lower amount than the value of your property. In the event that you end up borrowing more than the available balance, you may be required to relocate and have the property sold. But no debt will remain in your name.

Now that you’ve understood how reverse mortgages work, you’ll be in a better position to market them to prospective clients. Remember to put yourself in their shoes. When you do that, it’s sure to make you a success in reverse mortgage marketing!

Scott Tucker tells you more on his free audio CD, free e-book, free faxed report, & free telephone seminar, all available for the asking, at www.MortgageMarketingGenius.com/newsletter

So you find motivated sellers, you get a great real estate deal, now you need to turn your property into profit by selling it. I’m about to show you how to get an instant property buzz. I’m going to introduce you to three of the most powerful online marketing tools you can use instantly.

Once I do this your going to wonder how you communicated with your buyers and sellers without them. Creating a property buzz will get you more interested buyers in your properties, and allow you to spread the word with little work at almost no cost.

Let them spread the word for you.

Who is the most ideal group to promote your property for you? When you buy a property, show a property, who is the first to notice? The neighbors, you can use that to your advantage maybe it’s the nosy one,next door, even so why not start with the group of people who tend to do this anyhow. We can use this to our advantage.

So before we jump to how, lets spend time on why. They’re the group who’s naturally inclined to do this for you because they care who the new neighbor is going to be and they don’t want to see the property sitting abandoned it’s not good for the neighborhood. (This is also why they are a great group to help you find motivated sellers too!) Not to mention, most people happen to think their neighborhood is nice, they take pride in their neighborhood, so they want to tell people about this property.

Buzz-Worthy Tools

We’re going to use three powerful tools. The first one is communicate with the neighbors, go to online White Pages. It has a powerful feature you probably don’t know about go to advanced search. Let’s say we’re selling a house on Mitchell Ct., Marlboro NJ, so let’s put that in, so in the last name box you have to put in something, you can put in a number sign press search and it will pull up everyone on the block. You can get addresses and send fliers, you can also get phone numbers etc. You can copy and paste to a spreadsheet and create your own database of the neighborhood it’s free and only takes a few minutes of your time.

Next we’re going to go to the USPS website, we’re all familiar with United States Postal Service. Why not start doing direct mail to people, sign in, and click to mail, it’s extremely simple and costs very little. They don’t cost much more than doing it all yourself, click flier, they have templates, or upload your own, we see their template and you can modify that how you like. Click cost estimate, so for 10 fliers it’s only $5.50. Let’s talk about Mail Merge, this means you can actually merge in all of the addresses from the white pages earlier.

Earlier we also got phone numbers it’s awesome once you use it you’ll want to keep using it. Log in, it’s free to sign up, go to campaign, new outbound campaign. It allows you to call 10 or 10000 people with the click of a button. You can’t abuse by calling people all of the time, but you can call unsolicited one or two times.

Go to Campaign type, you can optimize this, if you want it to contact just a live person, or answering machines, click the third choice it’s simplest. Click campaign name, and you can put in the phone number that will show up on their caller id, click save, you’ll get a phone number and pin, next, you call and leave your message, and then on the next page it will show up on the file, or you can upload MP3 files also. It will say your file was saved, you click save, test it, put in the time you want them to go out, it’s that simple.

Let’s say you’re going on vacation and you want these to go out at a certain time while your gone, you can do that too. A good time is between 6:30 and 8:30 Monday through Friday, or on the weekend, then upload your phone number spreadsheet we made earlier, click browse, open the file, and upload it, select it, click next, you might have to select a column with the phone numbers. That’s it! Voice Shot is only about 10 cents per minute per call, a sixty second message to fifty people is only about five dollars.

Build Your Campaign

Hopefully by now your seeing how powerful these tools are! One last thing, we know who, and how, to contact, but what do we say to them about our property? We’re going to use a build campaign, the concept is that you continue to build excitement about the event by using multiple marketing tools. Start by doing a simple post card to neighbors, maybe say, “We’re going to do an open house. I’m excited and we’d like to have you. And I want you to bring a friend, were going to have food and fun!”

Some people read mail, but don’t answer their phone, visa versa, so we want to use multiple ways to reach these people. Reveal a little more info each time to build excitement! I want to leave you with two techniques, make it stand out, and make it personal! Always encourage people to bring out friends or family! Don’t forget to invite out Realtors, they may have a client who might be interested in your property. Make it personal, make it stand out , and use multiple marketing tools!

Damian Lanfranchi has pioneered the R.E.I. Done-For-You Deals System, the only automated multi-media video marketing system that lets investors get deals with no work.

Every week, he educates 1,000’s of investors with his revolutionary techniques.

http://www.dont-tell-mom-i-invest.com

The UK property market is not exactly in the best of shape. Property prices in the UK have dropped significantly over the past few months, and the market is quite troubled. There are those who point to the US sub prime crisis as a factor in the dropping of property prices in the UK. While the crisis may have affected the UK property market, there are also other factors that have triggered the dropping of property prices in the UK.

The decrease in the mortgage financing which is brought about by the worldwide financial crisis is definitely affecting the prices of properties in the UK. Add to this the pressure on the income of house sellers, and there’s little wonder why prices of houses in the UK are dropping at an alarming rate.

Buyers however remain cautious in buying properties despite the fact that prices have decreased tremendously. The demand focuses more on apartments that are competitively priced yet very well designed. Apartments that are priced above market averages are obviously hard to sell these days. Aside from the prices, what makes these apartments even less attractive to house buyers is the high cost of maintenance fees that can add up another 20% to the total cost of mortgage needed in buying these types of properties.

Buyers of course are waiting for prices to drop even further to make a move. The fact that a house they are interested in, could be worth even less in the next few weeks means buyers could play the waiting game.

Since the financial markets worldwide have affected banks and their policies regarding providing home mortgages, there are not enough financing for house buyers. Banks are now tightening their belts and are no longer lending as they were before the crisis hit. This means that fewer house buyers are getting access to home mortgages, which translates to fewer house sale transactions.

However, there are certain regions in the UK where the crash of property prices have not really affected the market, at least yet. In Scotland, for instance, prices of property have increased significantly. Many experts are saying that Scotland has the most active real estate market in all of the UK.

Homeowners on the other hand are trying to get the best possible value from their properties. This is evidenced by the rise in re mortgages this year, up by at least 40% from the previous year.
While most of them prefer to wait for prices to drop even further, house buyers are advised to look for great bargains in the market. There’s really no assurance if the prices will continue to hit record lows, thus, house buyers should take advantage of the situation. As long as one knows where to look for the best priced properties and how to make a hard bargain, one can get the best deal in the real estate market. The build up of real estate properties left unsold makes it even more likely for buyers to barter for lower asking prices. Most of the time, buyers eventually get the price they demand.

So how will the real estate market in the UK fare in the next couple of months? There’s really no way of saying how things will transpire. For the meantime, house sellers, buyers and everyone involved in the real estate market are keeping their fingers crossed that the market returns to its healthy state.

Homes On Sale - 100% free property listing site. Find property for sale by owner (FSBO) and save on agents fee’s. Visit Homes On Sale for all your property needs

Today I wanted to talk about five largely held misconceptions or real estate myths in the real estate world.

The first myth: I as a home seller can always drop my listing price. So why not just start high with the list price? Reality: the first six to eight weeks your home are on the market are truly the most important time. You could liken it to a “movie premier.” During these first two months, buyers will be viewing your home. And know that these buyers will have seen a number of other comparable homes prior to yours. After seeing these homes and seeing what is for sale, the buyers come to know the market. If your home is overpriced, they will cross it off the list and move onto the next home. Even if a few months down the road the seller reduces their price, buyers have already in their mind moved on.

The second real estate myth: My agent I hired never showed my home! Reality: your agent you hire may not ever show your home. He or she however is ultimately responsible for marketing your home to other agents and buyers. Sometimes the agent you hire will be working with a buyer in your price range. However, it is very rare when the agent you hire has a buyer looking specifically for your type and price point of home.

The third real estate myth: if I go with a lower commission, I will save money. Reality: discount brokers across the country have historically brought a lower sale to list price percentage than a real estate broker who is full service. Allowing your listing agent some marketing dollars and commission structure to market your home is crucial.

The fourth real estate myth: if I buy a home without an agent, I will get a better deal! Reality: your buyer’s agent can ensure that you are buying a home that is priced fairly. Don’t cut corners! Hire an agent so he or she can do a market analysis and ensure the price you are paying for the home is in line with the market.

The fifth real estate myth: I can save lots of money by going with a lender off the internet. Reality: find a local banker in your market you can meet with. With all of the changes in financing options, it will be crucial to find someone locally you can trust, someone who will ensure that your loan will close when it is supposed to close.

Ryan O’Neill is a licensed agent with RE/MAX Advantage Plus. As the founder of The Minnesota Real Estate Team, Ryan and the team help clients buy and sell Minneapolis Real Estate and Minneapolis Homes for Sale.

The key to marketing for reverse mortgages is to simply make your client understand the benefits of what you’re offering, enlighten them as to what their options are, and what these options would lead to.

How to Qualify for Reverse Mortgages
The qualifications for reverse mortgages will immediately allow you to identify who your target market is. Firstly, they must be sixty-two years of age or older. Secondly, they must have full or partial ownership or their home. Based on this profile, you now have the senior population, possibly from the low to middle class income levels, as your target market.

Why an Ordinary Mortgage Isn’t Enough
Getting a mortgage gives a person access to cash. Aging is a costly process, and cash is one that you tend to have greater need of as you grow old. Once you retire from work, you lose your source of income and if you have no retirement pension to rely on, you may end up with no means at all to support yourself. If you sell off your home, you obtain cash yes, but it can be quickly eaten up with today’s high cost of living, and which include but isn’t limited to food, clothing, rent, and medical bills.

Selling the very roof over their heads obviously won’t work for the elderly. Neither will a standard mortgage work since the threat of losing their home is still evident. A reverse mortgage, however, is another case entirely.

Quick Tips on Marketing for Reverse Mortgages
First impressions always last, and that’s why you need to approach all prospective clients with confidence and a sincere desire to be of help. Start your marketing presentation right with the tips below.

Choose the client’s home as the venue for your presentation.
Home is where the heart is and as people grow older, the statement becomes all the more true. Old people especially find their homes the most comfortable place to be, and it will be to your advantage if the presentation takes place at their home. When they’re feeling comfortable, they’re immediately in a more receptive mood to listen to what you have to say.

Choosing their home to discuss their options for reverse mortgage is also vital to your presentation as it allows you to use their home as prime example of what they’ll lose if they end up broke and they’re forced to sell off the place they’ve lived most of their lives in, the place they have so many cherished memories of.

Highlight the differences between ordinary and reverse mortgages.
Earlier on, we’ve explained why a standard mortgage simply won’t do for the elderly. Once you’ve made that clear to your client, you can now move on to explaining why reverse mortgages can work.

A reverse mortgage will only be called when they decide to leave their home for another place, have it sold, or when they move on to the next life. Until none of that takes place, they’re free to stay in their homes in relative comfort, depending on how much of the available cash balance they’ve decided to use.

Let them know they’re in control.
A reverse mortgage gives them the option to be in control of their lives or as much as it’s possible to be. They can choose to receive the balance in one lump sum and use it to invest in a business. They can choose to receive regular monthly advances… just enough for them to live by.

Do these and you’re sure to convince your client to take a reverse mortgage.

Scott Tucker tells you more on his free audio CD, free e-book, free faxed report, & free telephone seminar, all available for the asking, at www.MortgageMarketingGenius.com/newsletter

Mortgage marketing is a great way to make money without giving up your job - or at least not until you’re earning more from mortgage marketing. Here are several tips on how to land your first deal.

The Proper Way of Answering the Phone
Image means everything in business and that includes marketing. Image is just as critical even when you’re not being seen, or in this case, when someone’s speaking on the phone to a prospective client.

If someone typically gets to the phone before you do, have him or her inform the caller that you’re with a client at the moment and to stay on the line while he asks whether you’re free to take a call.

And yes, your receptionist - if you have one - should still say this even when you’re not with a client because of several reasons. For starters, this kind of line is a commonly used but still effective screening practice: you’re then given the option to answer the call or not, depending on who’s on the other end of the line. Secondly, the words make you appear busy and in demand - always an effective way of impressing clients. And finally, when you do take the call then you make the client feel important since you’ve interrupted your other meeting just to speak with him or her.

There’s Always Room for Improvement
The moment you stop thinking of ways to improve your mortgage marketing business is the moment you start losing your clients. There is always room for improvement and you should never believe otherwise.

There is, however, absolutely no need to drive yourself crazy wondering about what huge changes you can make. Even a small change is alright just as long as you did something concrete to improve your business. You can add a customer’s testimonial to your website, edit a brochure, or simply send a birthday e-card to an old client. Make this into a habit and your sales are sure to multiply.

Study the competition.
Keep your friends close, but keep your enemies closer. Remember that line? Well, it’s just as useful in business as it is in war. Instead of ignoring your competition and focusing on your efforts, study your competition instead and try learning from what they’re doing right and wrong.

Use comparisons constructively. What do they have that you don’t? How can you make your business better than theirs? Why would some people prefer theirs over your business?

Conduct an Honest Analysis
After making comparisons between your mortgage marketing business and your competitors’, it’s time to look within and analyze what you have and haven’t been doing. It’s easy to recognize a rival’s faults but it’s always difficult to identify your own flaws. Nevertheless, you must be strong enough to face your weaknesses as that’s the only way you can know of them and make them go away.

Read, Train, Read, Train
Finally, get help. You now know that there’s always room for improvement. And while there’s only so much you can do for yourself, there are also things you can’t learn without other people’s help. If you want your mortgage marketing business to survive, you need to read the pertinent books and get additional training as much as you can.

If you can do all these then you’re sure to be a hit in mortgage marketing!

Scott Tucker tells you more on his free audio CD, free e-book, free faxed report, & free telephone seminar, all available for the asking, at www.MortgageMarketingGenius.com/newsletter

With ARM resets having taken place and scheduled at some point in the future once more, people must take steps to prepare their finances for any undesirable change in mortgage rates. In this case, forewarned is still forearmed and you should start by familiarizing yourself with commonly used terms associated with ARM resets.

RESET
If 2006 or anytime more recent was the first time for you to take out an adjustable rate mortgage, you probably haven’t any experience with resets just yet. But before we get into what resets primarily represent, let’s have a little refresher first on what adjustable rate mortgages or ARM are.

ARMs provide borrowers with a fixed introductory rate, one that could last for three to ten years for prime properties and two to three years for subprime ones. When the period for that kind of arrangement elapses, the rates will then be adjusted usually twice a year for subprime properties and maybe just annually for prime ones. Whether the change ends up being favorable or unfavorable to the borrower will depend on the current rate and economic condition in general.

Those changes are referred to as resets. The first reset for an adjustable rate mortgage is usually quite high, and it can be an awful shock to those who hadn’t sufficiently prepared for it. Many homeowners ultimately lose their rights to their homes because of inadequate preparation.

CAP
Cap is yet another important term you must understand before having signed any adjustable rate mortgage agreement. A cap is the maximum interest rate permissible for a given period of time for your adjustable rate mortgage.

Now, there are two kinds of caps that you could encounter. A lifetime cap is the highest possible interest rate that you might end up being subjected to because of your ARM. As it’s a lifetime cap, it can take place at any given point in time. The average lifetime cap is six percent. If the current rate is 3% then the lifetime cap for your adjustable rate mortgage would be 9%. Some loans, however, may have lower or higher lifetime caps than that.

A periodic cap, on the other hand, is restricted to a given period of time. It basically prevents the reset rate to be lower or higher than the prescribed limit. Many adjustable rate mortgages make use of a 2% points in one year. This simply means that the rate for an ARM can’t fall or go beyond two percentage points in the allotted period.

Index and Margin
Mortgage providers make use of indexes to determine the appropriate adjustment rate for their loans. Indexes are based on tables of interest rates or yields and they’re also used to determine rates for other types of variable loans and mortgages like credit card debts. Wall Street Journal’s Prime Rate, the 11th District Cost of Funds from the Federal Home Loan Bank, and the Treasury Constant Maturity Yield for one-year adjustments are just some of the commonly used indexes.

Margins, on the other hand, are percentage points placed in increment to indexes to determine the final adjustment rate. If the computed index is 5% and the margin 1.15%, the final rate for your ARM will be 6.15%.

Knowing these terms will make a difference to any future ARM you take out. It can also make a difference with your current adjustment rate loan because more knowledge always puts you at a better negotiating position.

Scott Tucker tells you more on his free audio CD, free e-book, free faxed report, & free telephone seminar, all available for the asking, at www.MortgageMarketingGenius.com/newsletter

The FHA Secure Refinance program was created in an effort to provide greater help for people who weren’t able to obtain FHA-approved loans. As mortgage provider, it’s your job to let homeowner clients know when they’re better off with a FHA Secure loan.

Current Non-FHA Loans
Clients with current adjustable rate loans that hadn’t been provided by an FHA-approved mortgage lender can apply for FHA Secure refinancing. The best way to approach such clients is to draw out their life stories first. Listen to what they’ve gone through just by taking out a non-FHA loan.

Now, highlight to them the various benefits they can enjoy if they take out a FHA-approved mortgage. Let them know that while they may have made a mistake in the past, FHA Secure Refinance gives them the chance to rectify the mistake.

Delinquent Non-FHA Loans
Don’t have clients dismiss their prospects just because they’re delinquent on their payments. Even if they’re not able to pay off their current loan in time, the FHA Secure Refinance program isn’t ready to turn their backs on them yet and neither are you!

Dependable Income
Of course, having a current non-FHA loan, whether of good standing or not, isn’t the only qualification that the FHA Secure Refinance program will be concerned with. Your client must also have a dependable source of income. The FHA isn’t fussy as to what kind of income it is. It may be from full or part-time work. It may come from regular payments from a trust fund, retirement pension, alimony, or some other source. What’s important is that your client will be able to prove its consistency.

Ability to Pay
Naturally, having a reliable source of income isn’t always synonymous to being able to pay off your debts and many are quick to prove this true. You must also ascertain that your client’s source of income is adequate to cover not just the costs of living but his monthly mortgage payment as well. If he’s not qualified to do so then he may not be qualified for a FHA Secure refinance loan.

In this instance, you’ll need to have a heart to heart talk with your client. You might even have to work with them closely and help them determine the actual total of their monthly expenses. You have to determine whether they’re truly unable to afford their mortgages or they’re just guilty of financial mismanagement.

The important thing to remember is not to give up on your client until you’ve exhausted all your options or you’ve realized that another option may be better for him.

Reason for Delinquent Payments
Earlier on, we’ve established that delinquent borrowers won’t be dismissed right away. That’s true. What could get their applications for a FHA Secure refinance loan, however, is if they’re unable to prove that their delinquency is due to higher interest rates or mortgage payments. Again, you might have to work with your client closely to determine whether this is truly the case or not.

More Options for Qualified FHA Secure Refinance Loan Applicants
Now that you’ve guided your client all the way to the finish line, your final job is to ascertain that he makes the right choices till the end. Let him know, for instance, that he has the option to take out a fixed or adjustable refinance loan. When you take care of your clients with a FHA Secure Refinance loan, they’ll take care of you as well with their continued loyalty.

Scott Tucker tells you more on his free audio CD, free e-book, free faxed report, & free telephone seminar, all available for the asking, at www.MortgageMarketingGenius.com/newsletter