Loan Mod Training | How-To Make $$ From Loan Mods
Popularity: 16%
President Obama Housing Plan.
Realtors, here is a list of 6 things you need to know about Loan Mods….
1. Payments, not prices: The plan centers on the belief that struggling borrowers will stay in their homes—even as values decline sharply—as long as they can make their monthly payments.
2. Thirty-one percent: To that end, the administration’s plan requires participating loan servicers to reduce monthly payments to no more than 38 percent of the borrower’s gross monthly income. The government would then chip in to bring payments down further, to no more than 31 percent of the borrower’s monthly income. In lowering the payment, the servicer would first reduce the interest rate to as low as 2 percent. If that’s not enough to hit the 31 percent threshold, they would then extend the terms of the loan to up to 40 years. If that’s still not enough, the servicer would forebear loan principal at no interest. The plan does not, however, require servicers to reduce mortgage principal.
Realtors, learn how-to modify your own mortgage now. Save $100s per month and $1000s per year. Next, start your own loan mod business. Make money now from loan mods while helping others save money. Watch the FREE Agent Loan Mod Secrets video NOW.
3. Cash incentives: To encourage participation, servicers will be paid $1,000 for each modification and will get an additional $1,000 payout each year for as many as three years, as long as the borrower continues making payments. Borrowers, meanwhile, can get up to $1,000 knocked off the principal of their loan each year for as many as five years if they make their payments on time. Neither party can receive the cash incentives until the modified loan payments have been made for at least three months.
4. Financial hardship: The Obama administration is pitching its plan as an effort to help responsible homeowners ensnared in the historic housing slump and painful recession—not speculators. Occupancy status will be verified through documents, such as the borrower’s credit report. In addition, the program is designed to target homeowners who are undergoing “serious hardships”—such as a loss of income—which have put them at risk of default.
5. Net present value: To determine if a particular mortgage will be modified, the servicer will perform a so-called net present value test. The test compares the expected cash flow that the loan would generate if it is modified with the expected cash flow it would generate if it isn’t. If the modified loan is expected to produce more cash flow for the mortgage holder, the servicer is to restructure the loan.
6. Second liens: The Obama plan also addresses the issue of second liens—such as home equity loans or home equity lines of credit—by offering incentives to extinguish them.
Realtors, learn how-to modify your own mortgage now. Save $100s per month and $1000s per year. Next, start your own loan mod business. Make money now from loan mods while helping others save money. Watch the FREE Agent Loan Mod Secrets video NOW.
Would You Like To Be Our Co-Author?
Popularity: 19%
Become A Published Expert Author NOW.
We want you to become our co-author….first, let me share with you a story…
I remember the first time Julie and I were introduced at a large national real estate conference as ‘Published Authors’.
“Introducing Tim and Julie Harris, Authors of the best selling book..’0 to 10 Million In One Year’.
The audience gasped.
In the eyes of those in the audience we were immediately seen on a higher plane. You see, the public sees people who have written and published a book as the ‘Expert’.
Once you have established yourself as the expert you will find very few agents who will be able to compete with you. In peoples minds there is room for only one expert. Now that will be you.
Learn How To Become Our Co-Author NOW. Watch The Video NOW.
Ask yourself this question: How does the public see Realtors now? Do they see agents as offering basically the same service for the same price? What makes you unique?
If you are being 100% honest with yourself, you know that the public thinks all agents are the same. Even and experienced agent has to work to prove that they are different..that they are a better choice…over a new inexperienced agent.
In the old days agents would get certifications. Now it seems that every Realtor has certifications in something. ABR, CRS etc are
all great designations to have but, does that really make you stand apart from the herd of other agents with the same designations?
You already know the answer, no.
But, being a Published Expert Author DOES make you stand apart from the masses of other agents. Not just stand apart…you are seen as being on an entirely different level.
Here’s why:
- There is something uniquely powerful about being an ‘Published Author’.
- You will be the expert on the subject of the book.
- You can sell your book from your website or even on amazon.com
- The local and national press will seek you out for your ‘expert opinion’.
- Buyers and Sellers will choose you over the other agents because you are the ‘Expert’ having published a book.
Whats included with your book:
- Reprint rights. You can sell your books or give them away.
- All books are sold as unlocked PDFs in digital format.
- Your name will be on the cover along with ours. Written by YOUR NAME HERE and Tim and Julie Harris.
- Your picture and bio info will go on the back cover of your book.
- Ability to print hard copies of your books. Give them away as gifts or as promos to generate new leads.
Also, you get exclusivity for your zip code. In other words, you are the only agent in your zip code (1 zip code per order) who will own
this book. For up to a year after you purchase your book you will own exclusive marketing rights to sell (or give away the book) Yes, you can buy additional zip codes. Yes, you can renew your zip code every year.
Learn How To Become Our Co-Author NOW. Watch The Video NOW.
Total cost to you to become a published expert author?
$47. Thats it.
Once your zip code is taken that zip code will be locked up.
Order your turn key book now.
You may order up to 10 zip codes for $47 each.
Now, lets get started…follow these 5 simple steps;
- Enter in the zip codes you want to reserve in the box below. You can only enter one zip code at a time.
- Click the ‘Check This Zip’ to confirm your desired zip code is available.
- Click ‘Buy These Zips!’
- Check out.
- Become a Expert Published Author!
Learn How To Become Our Co-Author NOW. Watch The Video NOW.
New Feature: Ask Tim and Julie Harris | Realtor Coaching
Popularity: 44%
Ask Tim and Julie…..
We recently received this question from a Realtor whom had requested a Free Coaching Call….
“My problem is the dramatic swings in my income…one month I will do great…and for the next couple months I will be in survival mode. How can I get my business to the point where I can have cash flow…vs cash spurts?”
Connie, Realtor from Arizona.
Tim and Julie’s response:
Hi Connie,
Your question is symbolic of a problem that 99.9% of all real estate agents face. So, if it makes you feel any better…you are not alone!
The challenge is that agents think too much like sales people and not enough like business people. Let me explain…
Agents will go from intense periods of looking for business…followed by intense periods of servicing the business they found.
For example, you decided to list 2-3 houses. That becomes your mission in life…list those homes! You are a focused, driven house listing machine.
In order to accomplish that goal you become more intense, more focused…..you become what we call…the Real Estate Navy Seal. You are intensely focused on:
1) Asking for business.
2) Lead generating, prospecting.
3) Going on appointments.
4) Doing lead follow up. (have you ever noticed the amount of time you take to call a lead back is directly related to the size of your checking account and number of pending deals?)
5) Take action..you are going on appointments, doing the things you must do to accomplish your goal.
As a Real Estate Navy Seal you are intense, focused….nothing gets by you. If someone from a mile away mentions selling a home….your heightened Seal ears pick up on the words and you are asking for the business…
The Real Estate Navy Seal is proactive…taking action now…vs reactive.
You indeed accomplish your goal of listing those 3 homes. You did it…goal accomplished.
Now what happens…
You go from being from being a Real Estate Navy Seal Mode (RENS) into…..a……
Not so intense, slower moving, not all that motivated…Real Estate Sloth (RES). As a sloth you move slower, talk slower, think slower….you are no longer in ACTION MODE….you are now in reaction mode.
Your focus and energies are no longer on generating the business. That powerful, focused intense agent that you had to be has been replaced by its alter ego…the the Real Estate Sloth.
You are now focused on doing things like:
1) Making home brochures.
2) Realtor tours and maybe open houses.
3) Putting the homes on 6 bazillion web sites.
4) Servicing your sellers.
5) Speaking with potential buyers
6) Working on your websites.
7) Going to endless office meetings….
Obviously, this list could go on and on. The point is..how much time are you spending being the Real Estate Navy Seal vs the Real Estate Sloth?
Here is a great question for you. How much time did you honestly spend in the last 30 days being in Real Estate Navy Seal Mode vs being just another Real Estate Sloth?
Chances are, if your income is constantly going up and down…or maybe you aren’t earning what you need/ want to earn…its because you have yet to understand that being a RENS is actually LESS work than being a RES…..
Every day at HREU we have literally thousands of Realtors participating in a coaching program. I am not telling you that to brag. You must know that what you are experiencing is common. Believe it or not…there is a proven path for you to follow to learn how to go from being the Sloth to being a Seal.
The first step in creating consistent income is learning how to work consistently. Here is the secret..Consistent Effort and Actions = Consistent Results.
The Navy Seal is in GO mode at all times. He is ready for action NOW. Even more so…he makes things happen. He IS the action. Most importantly, the Real Estate Navy Seal has learned how to be intense..focused…even when he doesn’t feel like it.
Most agents only get results when they feel like it. Only when they feel motivated…when they feel scared because they are broke etc. Look around your market place…you know who the RENS are. They are the agents who produce month in and month out. These are the agents who are growing their businesses in this market…helping more people…making more money than every before. In case you haven’t discovered our FREE Realtor Superstar Interview site…check it out. Free Weekly Interviews with the nations real estate movers and shakers.
The Real Estate Sloth is intense, focused and taking action maybe 10% of the time. The rest of the time…they are just hanging out doing stuff that ‘fills their day…and empties their wallets.’
Are you being consistently inconsistent? In other words, IF you being honest how much time do you REALLY spend at these activities:
Take this simple test. Answer these questions:
1) How much time are you devoting to lead generating? Old school over the phone prospecting to 21st Century methods…they are all valid and great ways to generate business. How much time (honestly) did you spend this week…heck, all month…on proactively going AFTER business?
(If you don’t know the answer to this question its a sure sign you are currently in Sloth Mode.)
2) What is your lead follow Up plan? I can tell you from our personal real estate selling experience that lack of effective lead follow up is costing you at least 10 sales per year. (easily). In THIS housing market you have to call every lead back within no more than 5 minutes. And your new lead follow up rule should be:
“I will follow up with this lead until one of two things happens…they list or buy with someone else or they file a restraining order against me.”
Hopefully you know that I was joking about the restraining order. But, its my intention that you understand the intensity that is absolutely required in this market for lead follow up.
(Real Estate Navy Seals have pre-qual forms, scripts, systems…they are ready for action!)
3) Are you pre-qualifying 100% of your leads…100% of the time? Do you use anything resembling a script when you pre-qual? Do you ask them questions that are designed to….you know…generate business? How much more time would you have, how much more…dare I say….money would you have IF you were to actually learn how to truly prequalify every buyer and seller lead you speak with?
4) Presenting. At HREU we coach our students to have an organized listing AND buyer presentation. But, no presentation is worth anything unless YOU are out there..in front of potential buyers and sellers…presenting. Is your listing (and buyer) presentations just a mish-mash of things you have picked up along the way? A little of this..a little of that? Maybe your presentation has ‘worked’ for you 50% of the time. In other words, the buyer and seller prospects you were presenting to didn’t run and hide from you as a result of your ad-hoc presentation. Think about this, what happened to the other 50%? How much more consistent would your income be if you not only had a very professional sales presentation…and you were using it on a regular basis?
5) Closing. How much time are you spending….asking for the sale? Julie and I occasionally watch the HGTV real estate shows…Realtors showing endless homes to their weary buyers.
It’s interesting to watch as the agents seem to always complain about how many houses they have to show….and at the same time the buyers complain about how many houses they are being dragged to see.
I can tell you from personal experience that when we had our real estate team, we sold many homes to many buyers who came to us having grown discontented with their previous agents.
In the course of pre-qualifying them we would learn that the previous agent had been working with them for months (and months). I can clearly remember many of these wayward buyers telling us that they had seen a home with their previous agent that they had indeed liked…but, didn’t buy it. (and it had subsequently sold). When we would ask why they didn’t buy it they would always tell us the same thing..
”The agent we were working with didn’t ask us to…or we didn’t know that it was out job to tell the agent….we wanted to buy…”
In other words, their previous agent never tried to close the sale. Generally speaking if a buyer is in your car, and they have been fully prequalified..ready to buy….they are indeed ready…to buy! So, close them. THAT’S YOUR JOB.
Bottom line, consistent organized actions will create consistent income. If you are ready to make the leap to become a Real Estate Navy Seal start by requesting a FREE Coaching Call.
