Marketing Mortgage and Your Past Clients

The past customers you have financed or refinanced may be your main mortgage leads, and you may not even realize it. Look at it this way, each customer you have, most likely has siblings, sisters, parents, cousins, and chums, so why not tap into it.

When you begin a relationship with a customer, you need that customer to deliver multiple opportunities, not just one and it’s done. You want to earn more money but work less. That’s not saying you’re lazy - it’s about efficiency. It doesn’t mean you sacrafice any less service to the client just to get to the next one. Build a relationship with your client. mortgage marketing

Here are some concepts to draw leads out of your present shoppers.

First, as they endorse the loan application, talk to your customer, see what it is they need and can use that you can provide them with. People like to talk about themselves, so it is not really too tough to get them speaking.

For example, when the customer fills out the mortgage loan paperwork, ask them questions so you can compare their response against your profile. A profile is a demographic of your best customer. If you attract more clients like your best customers, you can build a strong referral business.

Secondly, Whenever you come in contact with one of your clients, give them 2 of your business cards, and tell them one is for them and the other is so they can refer somebody to you.

Third, send a thank you note to their office. People like to be appreciated and saying thank you only costs a first class post stamp. And don’t forget to include some business cards too.

Don’t be afraid to place a follow up call to see how everything is going. If they have any questions keep your sale from going down the drain. The other purpose of your follow up call is to let them know the second reason you are calling, and that is to determine if they’d anyone in mind that they could refer to you.

If they are saying no, than thank them and tell them to have a good evening. Don’t say stuff like are you sure? Or do you want to consider it? Just thank them and hang up. marketing mortgage

Whenever you’re with a customer, look for referrals. Discover who they know by isolating groups of people. When they think of different people, ask if they would benefit from your service, even offer to elucidate the advantages and features of products you have that you think would be good for them. Make notes of the conversations you have with your clients, than follow up with them to speak about the products you had discussed. Prospecting is just finding out what a buyer desires that they do not have.

Trust me, this method works, for each 20 clients you call, one will refer somebody to you. Your current patrons are obviously one of your biggest referral sources, so don’t think about them as stats only go after more of their business, and that of their buddies and family.

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Free Important Info about Texas Cash-Out Mortgage Refinancing

Residents of Texas, and particularly our local markets of Spring, Tomball, Conroe, The Woodlands and Houston, have been largely spared the pain of the national housing decline. There is good news and bad news associated with this stable housing market when it comes to refinancing your mortgage loan to a low mortgage rate.
The stability of our housing markets housing markets can be partially attributed to state laws. It was only in 1997 that Texas opened the doors to home equity loan financing, and with it came some specific restrictions. Among them:

• The aggregate outstanding loan amount, including home equity loan debt, may not exceed 80% of the home’s value on a cash-out refinance (50% for home equity lines of credit).
• Closing costs are capped at 3% of the loan.
• A loan may only be refinanced one time per year.
• Prepayment penalties are prohibited.
• In addition to a three-day right of rescission, Texas law also instituted a 12-day waiting period before closing to allow borrowers time to read and understand their Good Faith Closing Cost Estimate.

All of these regulations served to limit the amount of leverage available to consumers secured by their homes. While home equity loans and lines of credit in other states permitted leveraging one’s home to well over 100% of its value, Texas law strictly prohibited these practices. This effectively protects the consumer from the temptation to go out and leverage their home to the hilt in order to buy a flat screen television and a new BMW.

Here’s the bad news. Because of the 80% limitation, homeowners are not fully able to tap into the equity, or ownership, in their home. This becomes troublesome when a homeowner is faced with cash flow challenges and has run out of other sources of ready cash. Their only way to tap this equity is to sell their home; not a particularly attractive option in a tough housing market.

In addition, the 3% closing cost rule makes refinancing small loans prohibitive for many mortgage lenders, as the closing costs on a $40,000 loan may exceed three percent simply due to the costs of title insurance, survey, appraisal, recording fees, and credit and flood reports; all of which are required by lenders as risk mitigation tools. A lender is typically not going to waive their requirements and increase the risk in an already fractured loan portfolio for the nominal interest generated by a $40,000 loan.

If you are considering a cash-out refinance, weigh the benefits of both a traditional mortgage refinance and a home equity line of credit. The line of credit will typically come with a variable rate that can rise, but offers the flexibility of paying the line down and tapping it again in the future without additional closing costs. A traditional refinance might be best for homeowners who desire a fixed rate, believe they may move within the next 5-10 years, or do not anticipate tapping their home equity again down the road.

To find out more about refinancing a mortgage in Spring, Tomball, The Woodlands, Conroe, or Houston, Texas, speak with your mortgage broker about your options and keep in mind the costs involved in increasing your loan amount. The interest an on increased loan can easily amount to tens of thousands of dollars over the life of a loan.

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A Woman’s Guide to a New memory foam bed: 5 Steps

You know it’s time for a new bed when…

1. You wake up feeling stiff, tired, achy, groggy, or in pain.
2. Dark circles develop under your eyes, and it has nothing to do with staying out late or not getting “enough” sleep.
3. Your mattress isn’t young anymore. It sags, droops, or the fabric is falling apart.
4. You bought your mattress in a previous decade.

You see, like people, mattresses have a specific lifetime. After 5 years, an innerspring mattress just isn’t as supportive and clean as it used to be. It sags and fills up with bacteria and dust mites over time, which we think is pretty gross.

Shopping for a new mattress doesn’t have to be a pain. With the right knowledge and shopping smarts, it doesn’t even have to be overwhelming. For a few simple shopping tips that will make you an expert mattress buyer in no time, finding the perfect mattress for your needs with less than a modicum of fuss, keep on reading!

The first question you need to ask is: which mattress is best for you?

With so many mattress types to choose from, selecting a mattress can be a confusing process. Use this guide to select the type best for you.

memory foam beds: Made from NASA technology, these allergy-resistant beds conform to your body’s shape.

Pros: memory foam beds are hypoallergenic and conform to support every curve of your body. They alleviate pressure points – such as the hips – and the average memory foam bed has an extra-long lifetime: upwards of 20 years.
Cons: memory foam beds are known to be warmer than other types. Sometimes, these mattresses have a mild chemical odor, depending on the factory and country of origin and the quality control regulations they were manufactured under.

Innerspring mattresses: these are your “classic” mattresses, the traditional ones that support your body on a bed of wire coils.

Pros: Dependable and the most popular style, the innerspring mattress is time-tested.
Cons: These mattresses are incapable of evenly distributing body weight, which may lead to restless nights (especially when sleeping with a partner). They are hollow inside, save for the coils, so they are absolutely ideal living quarters for various bacteria, allergens, and dust mites (the infamous “bed bugs”).

Air Mattresses: These beds are highly affordable, lightweight, and portable. They can be inflated or deflated whenever you wish, making storage and space-saving a breeze.
Pros: Lightweight and storable, air mattresses are great for campers and singletons. They often include electronically controlled air pockets for adjustable firmness.
Cons: Don’t let your cat near this bed, as it easily punctures. Additionally, these beds do not give you even support while you sleep.

Water Mattresses: Full of water, this blast from the past is super soft.
Pros: exceedingly soft, these beds also have built in “rocking” action. Modern water beds tend to be much more stable and supportive than those of the 70s.
Cons: unfortunately, these beds weigh a ton, and they can get very cold; they should be avoided by persons who suffer from motion sickness or chronic back pain. If your partner tosses and turns in his sleep, it’s “surf’s up dude!”

Second: be comfortable.

If you get enough sleep, you’ll spend a third of your life in bed – so you’ll need a comfortable, supportive mattress. Every mattress offers something different in terms of layers and firmness, and out of the wide variety of mattresses available today, most all of them will feel different.

The ideal mattress will keep your spine in the same alignment as a standing person with good posture. Choosing the wrong mattress or practicing improper sleeping posture will likely lead to back pain, particularly in your lumbar region. Mattresses that are too soft do not properly support the back, while mattresses that are too firm cause uncomfortable pressure points. You may have heard that a firm mattress is best for your back, but the truth is that firmness is less important than even support. As long as a mattress distributes your weight evenly, you can use any firmness level you like.

For best results, test out some floor model mattresses at your local warehouse or hotel and find the perfect soft/firm ratio for you. Then get online and shop around for the best deals. Online shopping has a much wider selection than brick and mortar stores. If you’re having trouble finding the perfect firmness level for your body, consider buying a memory foam mattress with removable softness layers.

The third question you need to ask is: what’s my size?

Each and every unique mattress size will suit a unique need.

Your standard twin mattress (a “single”) is perfect for kids, dorm rooms, guest bedrooms, or bunk beds. They measure 39” wide by 75” long, which probably won’t cut it for tall women and couples.

You might also consider the twin “extra long” mattress, which retains the same regular twin width but adds 5” to the bed’s total length. These are the beds commonly found in college dorms. Sheets may be a little more difficult to find, but should be readily available online.

Double, also known as full, mattresses allow more room for movement and stretching. The average full mattress clocks in at about 54” in width by about 75” in height, which may prove (once again) a little short for some people. They are a great alternative for singles who find twin beds too cramped.

If you anticipate sharing your mattress with someone now or in the future, a queen is the smallest size recommended. At 60” wide by 80” long, they are great for those with extra height and couples who like to get close.

A king mattress may be the most expensive, but it allows the most room for anyone who really likes their space. King beds are different from other beds in their measurement variations, so you’ll need to consider whether you’re more interested in a long bed or a wide bed. There are two types of king mattresses:

The standard king, or eastern king, mattress is 76” wide by 80” long, making it 4” wider than its counterpart.

The famous California king bed (the “western king”) is about 72” in width by 84” in height, a whole 4” taller than its king sized counterpart.

The fourth question you need to ask is: how do I shop smart?

When testing out a memory foam bed, wear comfortable clothing. Lie in the position in which you normally sleep for several minutes. Pay particular attention to the effects of the mattress on the heavier parts of your body: is the mattress giving your hips, shoulders, and lower back the support they need? See how well the bed absorbs your movement.

Here are a few crucial points to consider while you shop:
1. Where is your mattress manufactured, and which company makes it? Are they reputable?
2. Will it aggravate my allergies?
3. Is it cost-efficient?
4. Just how confident am I in this mattress? Can I rely on it to deliver comfortable sleep for the years ahead?
5. Does the mattress give me good, full support?
6. What is the warranty policy?
7. Will I be sharing this bed with someone, and what are this person’s needs?
8. How much space will I need to accommodate my movement and size?

Remember, any sales person you talk to should be friendly, knowledgeable, and competent. If they can’t answer your questions, find someone who can.

The fifth question you need to ask is: how can I further enhance the quality of my sleep?

Aside from sleeping on an orthopedically supportive memory foam bed, you can also practice these nightly exercises to help improve your sleep:

1. Sip on chamomile tea before bedtime.
2. Exercise regularly at least four hours before bedtime.
3. Develop sleep rituals before bedtime, such as listening to relaxing music or stretching. These exercises will tell your body that it’s time to relax and go to bed.
4. Consider eating a very light snack before going to bed to avoid mid-slumber hunger pangs. Dairy products contain tryptophan, which induces sleep.
5. Go to sleep in a cool (NOT cold) room on a room-temperature mattress, and be sure to wear as many blankets as you need to keep warm. If you have a memory foam bed, consider using fewer blankets or sleeping in a cooler room.
6. Keep a nightstand near your bed where you can place books, water, or perhaps a music player; anything you may need to access easily before drifting off to sleep. This will keep you from getting up and feeling active.
7. If you do feel the need to get up late at night, use a nightlight rather than the standard room lights so your body doesn’t set itself to “daytime” mode.
8. Take a hot bath 90 minutes before bedtime. The drop in body temperature you experience afterwards will make you sleepy.
9. Write your thoughts in a journal before bedtime. This will relieve you of worries and keep your mind still.
10. Breathe deeply and slowly while counting your breaths.

With these considerations in mind, you will surely find the perfect mattress for you!

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Property Income Investment Profits

Owning rental property can be one of the best ways to boost your personal net worth. The profits can be great from your property income investment. Unlike the ups and the downs of the stock market, real estate generally always appreciates in value over time. And, if you purchase the right property, in the right area, you can easily surpass the returns available from the stock market and other more traditional forms of investment. Go to Property investments for more information.

Not everyone has the skills to be a good landlord, but those who do find that they can build a lot of wealth and monthly income with their investment properties in a relatively short period of time. If you are looking into purchasing investment real estate and are not yet skilled at being a landlord, you can always hire a property management company to manage your properties for you. They can manage for you until you either gain the skills yourself, or decide that a management company is your best long-term option.

Finding profitable investment property can take a bit of time, some local connections, and tons of research. However, once you learn about the industry, and start buying investment properties, it does get easier and easier to do. Refer to Property investments for more information.

Before you ever place an offer on a piece of property, you should be familiar with the following three things:

Understand Your Timeframes and Commitment Time

One of the first things you should consider is how long you are looking to own the property. You should always know the answer to this question before you purchase any investment real estate. The length of time you plan on owning the property has a lot to do with how much the property will cost you in repairs and maintenance. It also has a lot to do with how much improvement you are willing to make to a property.

The length of time you plan to own the property also determines some of your risk factors. Just about any property will increase in value over 20 years. However, if you only plan to own the property for 2 years, then you need to much more carefully consider the repair costs and initial price you pay for it. For most people, and for most properties, investing over a longer period of time makes the most financial sense.

Take Time to Build a Network of Real Estate Agents and Other Landlords

One of the best things you can do as a new property investor is to build yourself a network of real estate agents and other landlords. They will be the first to bring properties to your attention which they think you might be interested in purchasing. They will also serve as great references when you have questions about the industry or problems with one of your properties; nothing is better than talking to others who have experience!

Clean Up Your Credit

One of the most important things you need to do, before ever applying for investment property financing, is to clean up your personal credit and reduce your debt load. You will get much more favorable lending terms if you have no credit card debt and high credit scores. Also, by freeing up as much of your income as possible each month you will have the cash you need to invest and to maintain your properties well.

By considering your timeframes, building your network and having great credit you will be well on your way to becoming a successful real estate investor. Visit Property investments for further information.

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Tips When Buying a Home for the First Time

If you’re getting real estate for the first time, make sure you at least know the initial methods of assessment. You will find a real estate agent indispensableat this time. Absorb the information provided to you very well and read more about the approaches. You will get more out of your hard-earned money by understanding a few basic principles. You will also realize that understanding the details can lead to added savings from fees and payments.

1. Check the documentation. Make sure that the property being sold is completely free of any tax liens or is not bound for bank foreclosure. There should be documentssupporting legitimate ownership of the place by the seller or previous owner. Assessthe blueprints as well to know which areas need to be checked. I let my real estate agent keep all the documents together with his Business card cases. That way, I can easily access papers I need for future transactions and improvements.

2. Seeing the place. Find out how old the structure is and observe other adjacent properties. The price of the house and lot should most likely be very near the value of others in the same neighborhood. It will help to look at other nearby places too, and knowing the value of each. You can bring this up when dealing with the seller. Find outthe strengths and weaknesses of the place. You can use the weak points to bring the price down lower. Consider features such as the floors, walls, lights, drainage and even the decorations taken as Groomsmen gifts.

Take a look at the rooms, the attic and the basement. Check for watermarks and other signs of flooding or dripping. Also assess if there is any possibility for rats and other rodents to be living in the premises. Take a lookat the front lawn and backyard. Consider how the water flows from the house. It is important that water drains away from the house or else the basement could flood during heavy rains or the garden can be ruined.

3. Negotiating. You need to know the art of negotiation to set the price lower, leading to further savings and more funds to repair the house. Bring up features that can help set the value down such as damages, needed repairs, pending mortgages, etc. Be particularabout the changes and include your plans that will also equate to added expenses. Your real estate agent should be able to help raise your concerns.

When choosing a real estate agent, make sure you get someone who is already experienced and knowledgeable in the area where you intend to buy. Give him a presentsuch as a Desktop business card holder to get on his good side. Real estate agents can actually help beginners save more, since they take out trouble of documentation, processing and negotiation. You can save more from the actual purchase of the property, even though you will have to pay for professional fees. I find it all worth it.

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