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Marketing for Preforeclosures- So Much More Than Mortgage Broker Marketing Tips
[June 20, 2008]   by Broker-Trainer
Filed under: Mortgage Broker Marketing Tips, Mortgage Broker Training, mortgage broker marketing, mortgage loan training, short sale course for mortgage brokers, short sales for mortgage brokers

Over the last several posts, I’ve mentioned what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all, what are the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in doing for you now? There has to be something else in today’s market. As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

Now that you’ve completed the Quick Start Guide portion of my online posts, let’s dive into the next series of material, which covers how to effectively market your preforeclosure business. Remember that my entire short sale course for mortgage brokers has nine main subjects that it will cover. So, let’s start by quickly reviewing all of the topics that will be covered over the next several posts.

Trust me when I tell you that your business is only as effective as how you market it. For this reason, the next several posts will be very important to your overall success. Now, let’s go into the heart of this week’s lesson. With any type of real estate investment purchase, there are a number of ways to buy and pre foreclosures are no different. What may differ in helping a client work through the foreclosure process is how they want to proceed. Many sellers see the light and realize that their best option is to sell the home. In this case, there are three primary options for you to work with them to help stop foreclosure:

1) A “subject to” purchase, where you help them remedy their default with the lender and continue making their payments until you can sell the home. Although we will cover how this type of deal is structured, foreclosure laws may vary from state to state so make sure you understand how to best proceed where you live and invest.

2) A real estate short sale purchase, where you help the client negotiate a discounted payoff with the lender

3) A wholesale purchase, where you get a pre foreclosure property under contract with the seller and then assign the contract to another investor for a fee

Every pre foreclosure deal is different and so too should be your decision in how to purchase each deal you come across in your real estate investing business. Sometimes, though, sellers may be in a position to stay in their homes and there are also ways to help them accomplish this. These include:

ü Helping them work out an arrangement with their lender

ü Helping them refinance their current loan

ü Arranging a lease back where they repurchase the home from you at a later date (this strategy is a sensitive one when it comes to state foreclosure laws so be sure you research this one thoroughly before ever doing it!)

With all of these options, there are likely few real estate foreclosures for which you will be unable to at least have some idea how to best pursue a solution. Since you are in the mortgage lending business already, the idea of marketing your services should be something that you are well on top of, again a huge advantage you have over other investors. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. Please take the time to review the action steps and tips from all of my recent posts and make sure you’ve paid attention because we’re going to move onward and forward and I want you to be in an ideal position to act upon what you are learning. Stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett

The Short Sale Expert to Mortgage Brokers

To get a FREE Short Sale Course for Mortgage Brokers, go to:

Short Sales for Brokers

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Online Mortgage Broker Training in Short Sales
[June 11, 2008]   by Broker-Trainer
Filed under: Mortgage Broker Training, Mortgage training, online mortgage broker training, short sale training for mortgage brokers, short sales for mortgage brokers

The last time I posted, I introduced what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all, what are the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in doing for you now? There has to be something else in today’s market. As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

In my last post, I also introduced my preforeclosure home study course to you and also introduced the nine main subjects that it will cover. Remember, this is not loan officer training, mortgage training, or a mortgage seminar. It is simply cutting edge training that focuses on preforeclosures and short sales. Let me quickly summarize what we covered last time. In my most recent post, I had asked you to:

1) Make sure you have an office (makeshift if need be) set up, complete with tools like a computer with Internet access, set up a fax line, and look into an Efax account to receive incoming faxes on your computer

2) Interview at least one local realtor and ask if they have experience working with real estate investing and/or real estate foreclosures

3) Establish a basic budget that you will have for your pre foreclosure investing business

How did you do? If you didn’t do those things, make sure you get to them right away because they are very important to your business! In addition, I want you to also look into the following tools that will help your pre foreclosure business:

1) Look into setting up a business website for your real estate investing pursuits ( I suggest www.getyourinvestorwebsite.com)

2) Explore joining a local real estate investment club (REIA). You can find a list of local clubs at http://www.nationalreia.com.

3) Acquire a map of your target market

4) Establish a business specific mailbox that has a physical address, NOT a PO Box! (e.g. the UPS Store)

5) Look into getting a regular notary who can formalize your paperwork with your pre foreclosure clients

6) Interview at least two more realtors if the first one didn’t pan out for you and start researching real estate trends for your area

Trust me when I tell you that these things are critical foundations to your business and that they will bear results, but only if you complete the above checklist! As I mentioned the last time I posted, the fact that you are in the mortgage lending business puts you at a tremendous advantage when it comes to the basics because you either a) have already done some of these things or b) have the resources and contacts to make them happen easily. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. I’d like nothing more than to help that happen for you so stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett

The Short Sale Expert to Mortgage Brokers

To get a FREE Short Sale Course for Mortgage Brokers, go to:

Mortgage Broker Training in Short Sales

 

Short Sale Training for Mortgage Brokers and Loan Officers
[June 9, 2008]   by Broker-Trainer
Filed under: Mortgage Broker Training, short sale training for mortgage brokers, short sales for mortgage brokers

The last time I posted, I introduced what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in, what is that doing for you now? There has to be something else in today’s market.

As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

Starting with today’s post, I will walk you through my innovative short sale training program that is specifically catered for those of you in the mortgage lending business. I can assure you that this is not yet another example of loan officer training, nor is it a mortgage seminar. In fact, this is something completely different from the mortgage broker training that you may be more accustomed to. What’s different about it is what makes it great.

My pre foreclosure training covers the following exciting topics, as they pertain to real estate investment, and as they pertain to your background in the mortgage lending business:

- A quick start guide to help you build your real estate investment business around working the pre foreclosure market

- Proven marketing strategies that appeal to clients in pre foreclosure

- How to prescreen sellers and guide them into making decisions that will help them avoid a real estate foreclosure and make you money

- Paperwork that is sensitive to foreclosure laws and that will help guide your clients through the pre foreclosure process

- How to attract motivated buyers in a slow-moving real estate market

- Effective negotiations with buyers that will help you structure profitable deals and sell properties quickly, even in a slow market

- How to use private money to attract all the capital you will need to fund your pre foreclosure and other real estate investment deals

- How to work with the loss mitigation departments at lenders nationwide to effectively negotiate real estate short sales

- How to negotiate forbearance agreements to both avoid property foreclosure and create deals in otherwise challenging situations

Starting with the information below, I will help you lay out a foundation and establish a network that will help put you ahead of the game when it comes to working real estate foreclosures and becoming more successful in real estate investing. For starters, and to get you immediately moving in the right direction, I’d like you to do the following:

1) Make sure you have an office (makeshift if need be) set up, complete with tools like a calculator, a computer with Internet access, set up a fax line, and look into an Efax account to receive incoming faxes on your computer

2) Interview at least one local realtor and ask if they have experience working with real estate investing and/or real estate foreclosures

3) Establish a basic budget that you will have for your pre foreclosure investing business

As you can see, the fact that you are in the mortgage business puts you at a tremendous advantage when it comes to the basics and these first steps may already be in place for you. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. You have a choice to make. You can continue marketing for mortgages, scrapping together what business is out there, or you can decide that now is the time to go after a business that is truly hot right now and that can earn you amazing profits. Stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett

The Short Sale Expert to Mortgage Brokers

To get a FREE Short Sale Course for Mortgage Brokers, go to:

Short Sale Training for Mortgage Brokers

 
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