Are You Overlooking A Crucial Section Of Our Market?

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Filed under: Celebrity,Marketing,poll,Videosby Frank and Brian

15 Responses to Are You Overlooking A Crucial Section Of Our Market?

on February 21, 2012 at 3:30 pm — Snuskin says:

Sound great! Hopefully no knucklehead will try and say that it is unconstitutional to require them to use the savings to build equity faster.

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on February 17, 2012 at 10:07 am — Jim Wilson says:

Guys… Took your Monday video advise and called a past client… Low and behold, she turned me on to her hairdresser… Bingo! Got an FHA Streamline refi! When gathering that paperwork I asked if she new anyone… Her sister! Bingo! another FHA Streamline! While working on the first refi, I ran a scenario of them renting their existing home and buying up. I told them about their potential $500 net cashflow and qualifying for a bigger house. It was huge! Bingo! A referal to my realestate broker friend and a purchase loan a little ways down the road!

One phone call…. two refi’s and a future purchase!!!! Thanks for reminding what marketing is all about!!!!!

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on February 17, 2012 at 10:01 am — Miguel Terrazas says:

I appreciate your videos tremendously!
Just a quick note on today’s recommendation.
If I refinance to a 3.5% loan and the average rate of inflation for the last 25 yrs. has been around 2.9%, is doing a loan at these low rates really a good financial move for my clients?
I truly understand that most are seeking the lowest rate, however if you factor in their tax bracket, chances are they are behind inflation and thus going broke in a safe way!
Couldn’t they find an alternative investment that can potentially beat inflation?

Just a thought!

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- on February 17, 2012 at 11:11 am — Greg Grapsas says:
  
  You’re mixing apples and oranges. Inflation has nothing to do with the decision to refinance. They have a current loan at a rate presumably a good bit higher than 3.5%. If the reduced interest costs, even after lost tax deductions, exceeds the closing costs within a “reasonable” amount of time, then it makes sense.
  Inflation is factored in only for determining where to put new money on a new investment option
  
  Reply
on February 17, 2012 at 8:26 am — Ralph Allen says:

Hi guys I enjoy your videos a great deal, and I understand why you need comments,Likes, and shares. I am trying to get into the video presentation with my clients as well. Coming from a marketing backround, I would give something away every day of the week if nothing more than a gift card to Starbucks or?

This is your tip from https://www.facebook.com/MortgageBankerCA
Share the love and “like” me and I’ll like you?

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on February 17, 2012 at 8:25 am — donald timms says:

Guys-great information. I have an idea. I work for a direct hard money lender. Many Loan Officers dont know where to find a good hard money lender to fund there deals, and many, just dont try because they dont know where to go. How about running a little piece on hard money? We fund commercial nationwide and residential in the western US. Thanks guys

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on February 17, 2012 at 7:41 am — Dave Sullivan aka TheCreditGuy.TV says:

Buying to rent is so easy right now, even a caveman could do it. (am I a racist now also?) I just cashed out 1/2 of my IRA and paid the big tax on it. I know I could have done a self-directed IRA but I did not like all the bs rules. WHEN ARE YOU COMING TO MICHIGAN? please get the video to Joanne ASAP

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on February 17, 2012 at 6:05 am — Sarcasmdetector says:

So Frank, what is the difference between Whitney Houston’s car and yours?

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- on February 17, 2012 at 7:00 am — Helen says:
  
  I’d say he’s still driving his????
  
  I love a hot tub. I guess I’m just weird.
  
  Great show guys. I laughed like silly. I am an appraiser and a realtor (I tend to like punishment) and it inspired me to do some more marketing this weekend.
  
  RIP Whitney.
  
  Reply
on February 17, 2012 at 4:40 am — BrokeBackBarack says:

RACISTS!! I don’t care if they allow Pink Elephants to join their organization and require ALL their speakers to be White Males over the age of 35, WHY do they need to differentiate their organization by race?

We need to abolish RACISM in America. EVERYWHERE! I suspect they want RACISM to stop, don’t they? Why don’t they do their part to stop it? If they believe in the Melting Pot and not the divided melting pot, then they need to understand their racial differentiation is dividing and separating them (by their own aspiration) from others in the Melting Pot…

We are Americans, once we choose to become Americans… They are, therefore, American Realtors (one hopes)…

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- on February 17, 2012 at 5:05 am — Dan Drelich says:
  
  Huh?
  
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  - on February 17, 2012 at 7:01 am — Helen says:
    
    Really
    
    Reply
- on February 17, 2012 at 5:05 am — Frank and Brian says:
  
  You’re trippin… Before you start calling an organization “racists” you may want to understand the definition first.
  
  rac·ism
  [rey-siz-uhm]
  noun
  1.
  a belief or doctrine that inherent differences among the various human races determine cultural or individual achievement, usually involving the idea that one’s own race is superior and has the right to rule others.
  
  You’re comments are just foolish. There is no hate for any other race in the organization of NAHREP, and NAHREP doesn’t believe the Hispanic race to be superior or that they have the right to rule others.
  
  Hey I’m in a HAM radio club… it doesn’t mean I’m anti-cell phone… I just like to hang out with those that share my same interest.
  
  Settle down.
  
  Reply
- on February 17, 2012 at 12:24 pm — JOANN WEST, BROKER, GRI says:
  
  I 2nd your comments. I am offended by racially segregated organizations in America. The Hispanics, the blacks etc. Why?
  
  Reply
on February 17, 2012 at 3:52 am — Pam Marron says:

1) The HARP 2.0 refinance is available for all underwater FNMA/FHLMC mortgages and homeowner must be current to get loan. The best way to use this program is to SHORTEN TERM with lower rate, increasing equity quicker.
2) The new Obama Plan up for approval in Congress has included an incentive to refinance to a shorter 20 year term for all non-FNMA/FHLMC. See FACT SHEET at http://www.whitehouse.gov/the-press-office/2012/02/01/fact-sheet-president-obama-s-plan-help-responsible-homeowners-and-heal-h

Here’s a good example of how this helps:
EXAMPLE: How Rebuilding Equity Can Benefit a Borrower

A borrower has a 6.5 percent $214,000 30-year mortgage originated in 2006. It now has an outstanding balance of $200,000, but the house is worth $160,000 (a loan-to-value ratio of 125). The monthly payment on this mortgage is $1,350.

While this borrower is responsibly paying her monthly mortgage, she is locked out of refinancing.

By refinancing into a 4.25 percent 30-year mortgage loan, this borrower will reduce her monthly payment by $370. However, after five years her mortgage balance will remain at $182,000.

Under the rebuilding equity program, the borrower would refinance into a 20-year mortgage at 3.75 percent and commit her monthly savings to paying down principal. After five years, her mortgage balance would decline to $152,000, bringing the borrower above water.

No matter what your party affiliation, support the new plan, which will allow the non-FNMA/FHLMC underwater homeowners the same opportunity.
Ideas to change the direction to of equity from negative to positive are good ideas and will help turn the real estate market around.

Pam Marron

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