She Turned a Rat Loose!

Note to self: Next story is about the hot date that turned a rat loose in my Cab. Yeeeeooooowwww!

How a 34 year old from NYC and a whizz-kid from California "swiped" from the super affiliates and "raided" the gurus without anyone even knowing... must see...Click Here!

$400,000 Whoooaaaa!

What's with these people leaving all this money to dogs? I don't get it. The Hensley chick, Duh....

And the recent story about the guy leaving $400,000 and his house to some dogs. What's going to happen when the dogs die? Will the courts have to do an heirship affidavit on the dogs sibblings and heirs?

Jail for dog fighting????....what the Hell is this world turning into. When did human life become less important than a dogs? I mean tell the guy don't do it anymore. Give him a warning or a fine. But prison???? Seinfield, in one of his stand-up routines stated that "if there was life on other planets, I'm sure that they view humans as the slaves and dogs as the masters." He went on to say, " we walk behind them and pick up their poop."

As a child I was crazy about my dogs. As I grew up and had to care for children, there were times when I had to think about the welfare of my children above that of the family pet. Many times the family pet got slighted. Cat's??? Don't even go there!

A guy in Texas let his dog chew his infant to death several years ago. The courts decided not to put the dog to sleep saying that the poor pet owner had suffered enough.

Our world is turning into a Kingdom for pets Click Here! Think that's funny? Then check this out Click Here! Man discovers multi million dollar conspiracy responsible for the death of his dog!

Live or Memorex

If asked if I made this story up......yea....

Off the record it's very true. I once recieved a call for a fare in Old Sacto. During the mid 80's this was one of Sacramento's Hot Spots for underground Discos. The Discos in Old Sac. went way out with spinning glitter balls, strobe lights, the lighted dance floors and the whole 9 yards. The interesting thing about Old Sac. was that there was only one way in and one way out. I remember it like yesterday,.....it was raining that night and as I pulled into Old Sac. I noticed an ambulance and several police cars with lights blaring in the darkness thru my rain covered windshield, reflecting off the droplets of rain.

This was a time in the 80's when Sacramento was called the murder capitol and we cabbies were experiencing a rash of robberies, shootings and stabbings during the graveyard shift. It was a common occurrence at night to hear the dispatcher say, "Stay away from XYZ area, we just had an infraction. Don't pick up any flags over there." Which meant, don't pick up anyone trying to wave down a cab in a certain area (XYZ), because of some type of shooting, robbery, stabbing or attempt to do so.

Anyway I had just pulled into the front entrance of Old SAc., and before I could get my bearings, this guy dressed in a nice three piece suit jumped into the front seat of my cab and said, "Take me south on 99 to 3274 Fogol St." I was a little startled with this individual jumping into the front seat without asking if it was ok.

I looked over to him calmly and said sure. Thinking to myself, "strike one!". Then this individual said, "By the way, I may not have all the fare for the trip." I said, "No problem....we'll ride as far as your money will take us". Thinking to myself, "STRIKE two".

So we exited the rear of Old Sac., and headed south. We had barely gotten onto the highway when my mysterious passenger pulled out a bottle of Bacardi 151 Rum, popped the cap, and started drinking in the front seat, with not enough fare for the entire trip. I thought to myself, "STRIKE THREE..., I better talk to this guy and find out where his head is". So I started up a conversation. "Hey", I stated, "What was with all the police and the ambulance at the front entrance of Old Sac"? Looking over to my mysterious passenger for a response...... Then this nut explodes and starts going off with, "I tried to blow that son-of-a-$#@$^@'s brains all over the table. I told him I was gonna do it. I told that $#@$^%$#(*& to quit %$#%^*=%ing with me!"

I looked at him and with out missing a beat said, "Man what the hell is your problem?" He replied, "What do you mean?" I continued with, "You get in my cab, start drinking and don't even offer me a damn sip". He said "Man, I'm sorry, I wasn't thinking. Did you want some?" I replied, "Hell yea, you know I do,....and by the way, since you're providing drinks, don't worry about the fare".

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Mortgage Disclosures

Study claims borrowers don't understand Disclosures

This recent article in the LA Times reports on an interesting study completed by the FTC regarding mortgage disclosures.
The study found that a large percentage of today's borrowers don't understand the disclosures being provided for them.
From the study:


Half the borrowers couldn't correctly identify the loan amount.
Nine in 10 couldn't figure out the total upfront cost of the loan.
Two-thirds did not recognize that they would have to pay a penalty if they paid off the mortgage within two years. And 95% didn't know how much that penalty would be.
Three-quarters did not know when substantial charges for credit insurance had been included in the loan.

One in five couldn't correctly identify the annual percentage rate, the amount of cash due at closing or the monthly payment — or whether that payment included charges for property taxes and insurance.


The study only looked at dislosures for fixed rate mortgage products. One can assume that the results would be even worse for some more complicated loan products, like the Option ARM.
The Government and consumer groups are looking at revamping the disclosure requirements on loans, in an effort to better educate the consumer. However, these measures will inevitably take a long time to implement, and could still fall short of the mark.


As a mortgage professional, are you doing anything extra to educate your clients about the loan products you are providing? Are you confident in your ability to educate your clients as to their options?


Almost every originator I have ever spoken with has mentioned the time where a friend or family member has asked them to review a good faith estimate and other disclosures to determine if they are getting a "good loan" or not. But what is a "good loan"?
I like to define a "good loan" as any mortgage that provides the money needed, with payments the borrower can afford and terms they are comfortable with.


The best way to grow your origination business is via word of mouth referrals and repeat business. The originator that strives to completely educate their clients is the orignator that builds value with their clients. If the borrower feels comfortable with the loan documents they are signing, and they understand the terms of the loan, they will tell others how their originator helped them get a "good loan".

If you would like to take your origination activities to the next level, by becoming not only an expert in the products you provide, but also a better communicator of those products, or if you simply want to learn new strategies to grow your business, take a moment to contact your Account Manager.

Thinking of Learning a new Language? Click the Book!

Dumb Vic

I used to live in Sacramento back during the late 70's to the mid 80's it was considered one of the murder capitals. Needing to support three small children, I often took odd jobs which sometimes were not the safest positions to be in.I spent a stilt doing door to door sales. I spent time in telemarketing. But the most dangerous position I worked in was Graveyard Shift Taxi Cab Driving. To remember those days.....I thought I would document some of the less raunchier events on my blog and name them, "The Taxi Cab Chronicles".The first article is rightly named, "To Dumb to Rob!".

As a cab driver in the murder capital, you had to quickly read a potential passenger or run the risk of becoming a statistic!It was about 1:30 am friday morning and I was 1st up at the Main. Taxi Cab Lingo for....first in line for a customer, parked at the Greyhound Bus Terminal.Sounds important....lol.Anyway the guy jumped in the back of my cab and said, "I don't have any money...all I have is a gun!" I started scratching my head real slow and then in the dumbest voice I could muster, I started into a long winded discourse. It went something like this:Duh.....uhh...uhhh.Well sir, I don't rightly know how we need to work dis out. I ain't real sure but da boss done told me in da training class dat starting out if we know dat you don't have da cash, we not suppose to give you da ride. Now I done heard of times when da driver takes a fare to da place dey need to go den find out dat dey don't have da cash......... and den we take a radio or T.V. or sumptin else of value.But I ain't ever heard of a driver takin sumtin startin out, especially a gun startin out when dey know dat da customer don't have any cash. If you want I don't mind callin and askin fo ya doe but da only ting is I think's da boss is gonna get mad at me cause he saze all I do is call in wit stupid ass questions and I'm almost sure dey gonna say no.

After this discourse the guy laughed, closed the door, paid upfront and gave me a good tip. He figured I was to dumb to rob.P.S. He was packin. Whether or not he actually planned on robbing me....who knows.Check back for more "Taxi Cab Chronicles".

BIG MORTGAGE SECRET!

THE BIGGEST SECRET YET!
How to Finance 100% with NO CREDIT CHECK!

With the sub-prime meltdown in full swing, individuals needing to be creative in the financing of real estate are slowly becoming aware of the lack of available financing options. To the astute eye this current situation has created an opportunity to profit and accumulate even more wealth than the previous situation. Learn this easy techniques.
I was originating sub-prime loans in Texas prior to license requirements. We in the business all knew that it was only a matter of time before the poorly documented loans and the adjustable rate mortgages set to adjust above the borrowers income would come tumbling down like Humpty-Dumpty. Everyone in the industry has heard the horror stories how some of the less ethical brokers were juggling monies and allowing individuals to obtain mortgages using less that legal methods.

The large slow moving companies are the ones most affected by this recent market adjustment. These entities are unable to keep up with over inflated variable expenses as well as fixed expenditures due to dwindling home sales and originations. They have been forced to lay off employees and tighten up loan requirements. PMI Mortgage insurance covering borrower default has tightened it's requirements refusing to insure borrowers with lower credit scores. This has caused lenders to tighten loan requirements even further. As of this writing it's difficult if not impossible for borrowers having fico scores less than 550 to obtain mortgage insurance on 100% LTV's. Hence no mortgage insurance, no loan. The market is adjusting. Learn how to profit from the changes.

I have been blessed with the ability to draw from past market adjustments. Rates, terms, downpayment amounts are all relative. In the year 1979 I purchased my first home. I had just ETS'ed (end of tour status), from the military and wanted to utilize my V.A. Benifits. My first home loan consisted of $56,000 principle amount, 30 year amortization @10.5% interest. This was a great prime loan at the time. At the same time sub-prime interest rates were escalating as high as 22%. The amazing fact I'm trying to impress upon you is this: PEOPLE WILL ALWAYS NEED A PLACE TO STAY AND WILL ALWAYS NEED TO BUY AND SELL REAL ESTATE!

The key to this business is very simple. Don't look for ways not to do a transaction, look for ways to get the transaction done. Since you have read the bulk of this quick e-letter, I'm going to share a secret with you. This will revolutionize the way you look at real estate. I compiled a list of property owners who have had their houses for sale on the MLS for an extended period of time. Some of these sellers have expressed a willingness to accept owner financing for a portion of their net procceeds. I asked these sellers if they would be willing to Owner Finance 35% of the sale price of their properties. To my amazement, some of the owner's said they would be willing to owner finance 35% of the sale price of their home. Why is this important?
I know where to obtain 65% financing on real estate with no credit check!
Isn't that a kick in the head? 35% from the seller + 65% from a private investor = 100% financing on real estate with No Credit Check! Even more amazing, is the fact that this type of hard money isn't hard to find. If you can't find it, I'll show you where it is.
Because of my many other obligations it's mandatory that I study market changes on the MLS daily. What I'm always looking for is properties containing high amounts of equity on the table and sellers willing to offer or participate in creative financing. I'm going to make this list and my private notes containing conversations with sellers and selling agents available to a select group of individuals. Let me know if you are interested.
NOTE: Act Quick! These type of deals go real quick!

Dick Green Brkr#479053
Licensed Mortgage and Real Estate Broker
Triad Mortgage and Realty Services