Hi Guys,

I wanted to give you a quick thanks for the incredible training I have received in such a short time!  I could not be more impressed with your university and the valuable training and insight you offer!  I have been with another r.e. coaching company (a very well known one that really focusing on doing business by referrals) and have to say the substance you offer is much better, much more applicable, etc.

Thanks again guys for all that you offer from an excited new client of yours!

Mark

Mark Phillips

Castle Rock Realty, LLC

Old West Values on the Front Range

Owner/Broker

303-868-0352

www.gocastlerockrealty.com

Long time Harris Real Estate University Students know that the problem isn’t the payment…its the principle. Today the FHFA announced a new program to assist homeowners. Note that this does not include principal reduction as a solution. This new plan is limited to: “extending the term, reducing the interest rate, and forbearing interest”

Harris Real Estate University will be announcing a new people-helping…money-making opportunity for agents over the next few weeks….doing loan mods!  Lets be super clear about this next point..

There will be no slow down for the demand for Agents who know how to do short sales…and of course, the REO listings will continue to surge.

This is intended to help “thousands” (a drop in the bucket unless it is several hundred thousand), and seems to encourage homeowners to stop making payments until they are 90 days late.

Helpful questions and answers:

Q: What is a streamlined modification?

A: A streamlined modification is a modification that requires less documentation and less processing. In this case, the streamlined modification seeks to create a monthly mortgage payment that is sustainable for troubled borrowers by targeting a benchmark ratio of housing payment to monthly gross household income.

Q: What is the benchmark ratio?

A: This is the first time the industry has agreed on an industry standard. The benchmark ratio for calculating the affordable payment is 38 percent of monthly gross household income. Once the affordable payment is determined, there are several steps the servicer can take to create that payment – extending the term, reducing the interest rate, and forbearing interest. In the event that the affordable payment is still beyond the borrower’s means, the borrower’s situation will be reviewed on a case-by-case basis using a cash flow budget.

Q: Why is it necessary?

A: With the rise in serious delinquencies and increasing number of loans in foreclosure, this program will help borrowers who have missed three or more payments, but want to keep their homes. Because the eligibility requirements and process are streamlined and consistent, the program will allow servicers to reach more borrowers more quickly.

Q: Who is eligible?

A: The highest risk borrower, who has missed three payments or more, owns and occupies the property as a primary residence, and has not filed bankruptcy. The loan is a Freddie Mac, Fannie Mae or portfolio loan with participating investors. To qualify for the streamlined modification, the borrower must certify that he or she experienced a hardship or change in financial circumstances, and did not purposely default to obtain a modification.

Q: Why must the borrower be 90 days delinquent? Why not earlier in the delinquency cycle?

A: This is a streamlined solution targeted to reach the most at risk borrower. For borrowers who do not qualify, other solutions are available. This in no way substitutes for the meaningful efforts by all servicers and investors that are currently in place. The 212,000 workouts reported by HOPE NOIW in September are testimony to that fact. We will continue to see those efforts produce meaningful results.

Q: How many people will this help?

A: While difficult to assess, it is clear delinquencies are predicted to continue well into 2009. Foreclosure estimates are significant. Having a streamlined approach will assist many borrowers who default and more quickly. We estimate this will ultimately help thousands of borrowers.

Q: How do borrowers apply?

A: To be considered for the program, a seriously delinquent borrower should contact his or her servicer and provide the requested information – monthly gross household income, association dues and fees, and a hardship statement.

Q: How do borrowers complete the modification process?

A: Upon receiving the Modification Agreement from the servicer, the borrower signs it and returns it with the 1st payment at the modified terms along with income verification. Once the borrower makes three payments at the modified terms and the account is current as of day 90 of the modified plan, the modification is complete.

Q: When will servicers start offering this program?

A: We expect that by December 15th, servicers will be positioned to work with eligible borrowers.

This graph from Credit Suisse tells a different story than what we may be hearing in the news….

Clearly, years and years of mortage related problems are ahead. One of the greatest opportunites for Realtors in this market is knowing how to do short sales. Clearly, the great opportunity in this market niche is still ahead. Get started now by downloading the Free Agent Short Sale Secrets crash course. Instant free download here.

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Dear Tim and Julie,

Wow, what can I say?

From the little nuggets all the way to the GIANT movements of coaching and information gleaned, this has been CAREER CHANGING for me.  I came back to full-time real estate sales this past July after a tour of duty in office equipment sales…

Let’s look at the numbers:  I currently have $1,786,336 worth of inventory listed.  My highest dollar listing is a $774,900 - 5 bedroom, 6 bath, 5800 sq. ft. palace on 11 acres….and it’s a SHORT SALE….and I have a cash offer I’m working through the final stages with the bank! I have other short sale listings as well as non-short sale listings…with new prospects coming in daily.  I’ll tell you what, for me the short sale listings are the ones that get shown and the ones that receive offers.

Tim and Julie, I hope you don’t mind if I give away a little secret…

My biggest source of listings and clients since I started my coaching with you has been from other agents!  Just as you coached me, I have been diligently marketing myself as an HREU Certified Short Sale Specialist see (my site www.BoiseHallProperties.com) and the referrals come.  The same day you suggested that, I e-mailed my entire office and later that day I got the referral for that home on 11 acres mentioned above!

There is also a major change in perspective here as well….
Yes, we help people when a client buys or sells real estate, but it’s an entirely different ball game when I help someone avoid foreclosure. As Tim and Julie constantly say, be a caring, confident, professional and the help we are able to offer people (including Loan Mods and workouts) is an amazingly powerful and rewarding thing. No question, REOs are the absolute cash cow in this market…

We are in MOMENTUM and getting tastes of BREAKTHROUGH….(see daily coaching call archives on this topic) There is a ton more to say that I could easily write a book on.  If anyone out there is considering whether or not to get coaching, (for me there is no question…it’s a must) call me at: 208-340-2823 and I’d be glad to speak with you in more detail about how awesome HREU is.  Cheers!

Thank you Time & Julie and HREU.  I am very happy to be on this path together and I look forward to much more to come!

Sincerely,

Kevin M. Hall

Prudential Jensen Real Estate

Real Estate…Results.

HREU Certified REO & Short Sale Specialist

208-340-2823 DIRECT

You Must Listen To Todays Superstar Interview. Today’s Superstar Interview was one of the best ever…..according to the hundreds of fellow agents who sent us their testimonials…….

If you are needing:

1) Motivation.

2) Direction.

3) Education.

4) Inspiration…

Listen to this Free 90 Minute Teleconference replay NOW

Thanks for all of the positive testimonials…….

Deborah-Boca Raton
WOW! Just what I needed! Tim and Julie, you always seem to know when I need a swift kick in the a$$! I’m ready to go this weekend! Thanks! I’m SO glad I found Harris Real Estate University.

Sue Hyle-Benton City
You are right on target, how I am feeling right now. Thank you, I will relisten to this call and take action.

Lea Anderson-Los Angeles
The superstar Interview was terrific!! This call was needed very much and was right on time! Thank you so much Tim and Julie. I was in concentration mode slipping back to formulation mode without realizing it. This was definitely my WAKE UP CALL! Thanks again!

Sean Minor-chicago
A lot of what you guys were saying made sense. I was feeling a lot of those items that you mentioned. I will sit down and get a schedule written out for next week. Thanks for your encouraging words. Have a great weekend.

Debbie Franklyn-Anaheim
Finaly closed my first short sale with your assistance and guidance. Thank you so much.

Phoebe Landre-Truckee, CA
Thank you - very inspiring!

Jan-Brentwood
Thank you for this motivational call!

chunyang (jessica) Luan-sacramento
this call is great! it really get more more motivated. Thanks alot!

CHRISTINE KOURIK-LAKE ST LOUIS MO
GREAT MODIVATION

LISTEN TO REPLAY NOW...

Kimberly Caneda-Las Vegas
always inspirational…Thanks KIM

Susan Starnes-Houston
Tim & Julie, Terrific antidote for the fog of negativity and hard times in RE. This talk came with a sense of compassion, support and the promise of big money if I do what you say. I REALLY NEEDED THIS! Thanks so much for the heads up leadership and inspiration!

Blaison-Union City, CA
Excellent call! This calls really motivate to move forward to bright future!! LISTEN TO Tim and Julie every week to get success in your business.

Kevin Hall-Boise
Again, huge GOLD NUGGETS on this call! When you draw out the amazing coaching suggestions Tim & Julie are offering, you can suddenly find yourself with MORE BUSINESS than you can handle! Good problem to have, eh? Keep Rockin Tim & Julie and HREU! Sincerely, Kevin M. Hall - 208-340-2823 - Prudential Jensen Real Estate - http://kevinmhall.wordpress.com

Holly Rybicki-hollysellsre@yahoo.com-Pasadena, Ca.
Webinar was definitely motivating. Helping me move toward efficiency. Reinforces much of what I inately know.Ready to role this weekend.

Pete Mitchell-Dove Canyon
Great call and very encouraging. I am 8 months into the whole REO business and have completed close to 200 BPOs. I’ve been calling into the lenders and the Asset Managers that I identified. I also attended the 5 Star conference down in Dallas last month and met face to face with asset managers and decision makers. Today, I only have 1 REO property to sell and it has been a struggle to grow the business. I needed this call today to get me mentally back on track. Thanks.

Kelly Halverson-Gilbert AZ
I love what you teach and it really helps the mind set. There is so much fear out there I think we should listen to this every day.

Barbara Jackson-Bend, Oregon
Incredible information and motivation to help get us moving in the right direction. Identifying where we are currently and how to move forward. I am excited to refocus my attitude and business.

Fred Magnuson-Greenwood Village, CO
You are over the top again. Very inspiring and great information. I can’t wait to listen to this session again and put your action plan to work..

LISTEN TO REPLAY NOW….

Aaron Flint-Murrieta
Good Dose Of Reality. Keep up the good work. You guys have become one of my teams trusted source for market trends.

HD-NJ
HENCE, OVER PREPARE AND YOU’LL BE READY FOR ANYTHING

Anne Beery-Glendale, CA
Great seminar, very motivating and informative. 4 Stages of Momentum cleared up some things for me. Thank You - aanebeery@verizon.net

Patty Johnston-Nashville
I believe!! Tim and Julie, thank you for continuing to inspire us!! Working hard in Nashville, TN, to help those folks who need my help!! Submitted FOUR short-sale offers since I joined!! Preparing several BPOs per week! Working on getting REO listings! HREU REO Secrets & Agent Short Sale Secrets Student, Patty Johnston—
www.PattySellsNashvilleHomes.com — (615) 202-9247

Marc Von Musser, MBA, CFS, CSP-Carlsbad, CA
This call should be required listening to all agents that want to THRIVE in this real estate market! OUTSTANDING CALL! Thank you!

Danielle Sharp-Cape Coral, FL
I think this has probably been the first SuperStar interview that really got to me……and has made me realize that there’s nothing that I CAN’T do.

dave vandermyden-roseville ca
great call, the media comment is right on target. will be signing up for the short sale coaching.

Hello,

This is a reminder for you to attend this weeks FREE Superstar Interview…
Here is the information for your schedule:

EVENT:  FREE Super Star Interview
DATE & TIME: Friday, October 24th at 9:30am Pacific
FORMAT: Simulcast! (Attend via Phone or Webcast — it’s your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://HarrisRealEstateUniversity.com/urlforward.php?job=6Tl6KKTsz5&link=1&recip=ovScIoCIlVCnycb

When was the last time you visited www.HREU.tv?
We are posting new educational and motivational videos for you on a weekly basis.
Here is the link to the the video channel:

www.HREU.tv

Remember, stay connected with Harris Real Estate University.

Speak with you soon!

Tim and Julie

Dear HREU,

Wow, how to start………

I’ve been a student of the Agent REO Class for just about 6 months now and signed up for the Short Sale course today. The information and help I’ve received from Harris RE University has been invaluable.

Over the past 3 months I’ve listed 5 REO properties and 1 short sale and I’m continually receiving BPO orders.

Out of my 6 listings, I have 4 under contract. While my obvious goal is to multiply that listing number 10 fold, it’s been nice to have them arrive slowly because it’s been such learning experience. Each REO company and bank so far has had different criteria for preservation, re-keying, etc. I’m excited to see where this is going to lead. Thank you to all the coaches. I couldn’t have done it without you.

Kris Kryder
Broker
Assist 2 Sell Buyers and Sellers Realty
office 419-878-2640
fax 419-878-3783
cell 419-277-8097