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How To Get TONS of Mortgage Leads
How To Get TONS of Mortgage Leads
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1
How To Get TONS of Mortgage Leads
MARKETING SECTION.........................................................................................4
HOW TO BUILD A REFERRAL NETWORK IN 30 DAYS ..............................................4
REACH 15,000 MILITARY PERSONNEL FOR ONLY $15...........................................12
Military News Publishers..................................................................................12
San Diego Navy Dispatch .................................................................................13
Aberdeen Proving Ground News ......................................................................13
The Ranger........................................................................................................13
Fort Sam Houston News Leader .......................................................................14
The Southernmost Flyer....................................................................................14
New York Harbor Watch...................................................................................14
7 MAGICAL WORDS ...............................................................................................15
AMAZING ONE PAGE LETTER.................................................................................16
TOP REAL ESTATE AGENTS CALLING YOU ............................................................18
HOW YOUR CUSTOMERS PROMOTE YOU ...............................................................22
AUTOMATICALLY GET TARGETED LEADS WITHOUT BUYING A LIST ....................23
HOW REAL ESTATE AGENTS ADVERTISE YOU FOR FREE ......................................26
HOW TO LEGALLY PAY $100 REFERRAL FEE TO NON-REAL ESTATE PERSONNEL 28
PARENT MARKETING вЂ“ THE EASIEST NICHE ..........................................................29
SPEAK TO 1,000вЂ™S BY PRESSING ONE BUTTON ......................................................31
WHY RESTAURANTS LOVE TO PROMOTE YOUR PRE-APPROVAL FORM ................32
A PRIVATE CLUB CAN NET YOU THOUSAND$.......................................................33
FSBO COMMISSION BEFORE WRITING THE LOAN .................................................34
THE QUADRANT ROUTE TO SUCCESS ....................................................................35
HOW TO GET EVERY ENVELOPE OPENED ..............................................................37
OUTSOURCE MARKETING LETTERS FOR PENNIES ..................................................39
HIRE PROFESSIONAL SALES LETTER WRITERS ......................................................40
LOCAL INTERNET ADVERTISING BARGAINS ...........................................................41
NEVER LEAVE YOUR DESK FOR OPEN HOUSE LEADS ...........................................42
BIRTHDAY SURPRISE SPREADS YOUR NAME LIKE WILDFIRE ................................46
HOW TO GET A FREE BOOTH AT HOME IMPROVEMENT SHOWS ...........................47
FREE VOICE MAIL ADVERTISING ...........................................................................48
GET PERPETUAL LEADS BY BEING AN EXPERT .....................................................49
FREE CONTENT FOR YOUR NEWSLETTER ..............................................................51
THE NEXT GENERATION BUSINESS CARD ..............................................................52
HOW TO GET A FREE OFFICE WITH LEADS INCLUDED ..........................................53
THE BREAKFAST CLUB ..........................................................................................54
HOW TO GET 90% OFF DISPLAY RATES ................................................................55
LENDERS SECTION .............................................................................................56
RESIDENTIAL WHOLESALE LENDERS .....................................................................65
COMMERCIAL MORTGAGES ...................................................................................69
REPORTS SECTION .............................................................................................76
5 CRITICAL QUESTIONS WHEN SELECTING A 15 YEAR LOAN................................76
5 REASONS TO BUY A HOME .................................................................................77
6 THINGS YOU MUST KNOW BEFORE YOU BUY ....................................................80
7 BIGGEST MISTAKES WHEN REFINANCING...........................................................83
9 HOME BUYER TRAPS & HOW TO AVOID THEM ..................................................85
10 QUESTIONS TO ASK YOUR LOAN OFFICER........................................................88
11 DEADLY MISTAKES WHEN APPLYING FOR A MORTGAGE ................................90
HOW LENDERS DETERMINE YOUR INCOME ...........................................................92
HOW TO BUY A HOME NO MONEY DOWN ............................................................93
HOW TO INCREASE CREDIT SCORES IN 48 HOURS .................................................95
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How To Get TONS of Mortgage Leads
HOW TO PREPARE FOR A CLOSING .......................................................................97
WHAT'S A CREDIT SCORE ......................................................................................98
RESOURCES SECTION......................................................................................100
ADVERTISING.......................................................................................................100
CHECKLISTS .........................................................................................................106
DEAD DEALS .......................................................................................................142
LEADS & LISTS ....................................................................................................143
FREE TOOLS SECTION.....................................................................................150
3
How To Get TONS of Mortgage Leads
Marketing Section
How To Build A Referral Network In 30 Days
Traditional sales people and managers will tell you it takes six months to build solid
relationships before the loans begin to trickle in. And they're right - if you don't separate
yourself from the crowd. The question becomes, "what do you have to offer that is
significantly more valuable than your competitors?" Intelligence? No, you can always find
a smart
originator.
Appearance? Nope.
That's a
"gimme."
Punctuality?
Nope...another gimme. Loan Programs? No, wholesalers blanket an entire metro area. If you
have the loan, so does your competition. Follow-through? "I get the loans closed" .... so does
your competitor.
You need to create value. You need to develop a unique marketing position. Something that
makes you shine. Something that you can call your own - with your signature. There are
numerous ideas to help you stand out from the crowd. Each one would be unique to you.
Here's one that works. Modify it to suit you. Make it your own.
Joint Venture Advertising quickly creates your very own network. By taking charge and
saving business owners money, you suddenly become an integral part of their business.
Picture this, if you were a business owner and someone offered to save you 75% on your
advertising expenses, would you at least take the time to listen to the proposal? I bet you
would. I know I would. Now the questions become "isn't this expensive?" and "how do I do
it?"
You can create your network for only $34. That's right - $34. There are four primary steps
to a successful advertising joint venture:
вЂў
Research
вЂў
Making The Offer
вЂў
Selling The Offer
вЂў
Operating Your Network
Research
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How To Get TONS of Mortgage Leads
To get started, you have to research two things: a). determine who you want to work with
that is mutually beneficial and b). real operating costs and procedures. For example, it
doesn't make sense to propose joint venture advertising to a local hair salon. How many of
their customers would also be your customers? Probably not enough to make it worthwhile.
Here's a brainstorm list of potential partners: Real Estate Agents, Home Builders, Financial
Planners, Home Insurance Agents, Home Repair Contractors, Home Improvement Dealers,
Home Inspection companies, Furniture Stores, Car Dealers, Mobile Home Dealers and Boat
Dealers. Most of these businesses would have the same or similar customer profile. But
before you rush out and include all of the related companies from your local Yellow Pages,
do further research.
Guilt by association could devastate your reputation. Don't invite just any Tom, Dick, Jane or
Harry into your network. Scrutinize and have a filtering process. To begin with, research the
company and individuals. Go to your local public library and ask the friendly librarian to
show you how to search their computerized newspaper and magazine articles for the past few
years. Just type the company's name and any individual's name to see what pops up. Write
down anything negative and follow that lead why it happened, who was involved and if it
was resolved. Then determine if you want that company or person in your network. Next,
check their licensing status.
Licensing status could leave clues. Discover if they were ever reprimanded, suspended, fined,
revoked or re-instated. Thanks to the internet, professional license searches are only a click
away. Log on to the Public Records: Search Systems or KnowX. If you don't find your
answers, you'll have to contact your State's licensing board for the specific occupation. In any
case, the information will help you make the decision to include or exclude someone in your
network. Get their contact information from the Yellow Pages or Superpages.com. Now, let's
research the pricing and operations of your network.
Correct pricing and data makes you the leader. You want to make certain that you have
control - or perceived control - at all times. If your network doesn't believe that you know
what you are doing, it will destroy your opportunity with these people. Furthermore, they
will tell people they know. Word-of-mouth advertising can be your best or worst enemy. Be
prepared when you "leave the gate."
Compiling real operating costs is simple tele-research. You will want to have several
strategies prepared before you sell your offer. This can be easily done with Microsoft Excel
or Access. Create a new spreadsheet as follows:
column 1: source
column 2: ad type
column 3: circulation
column 4: readership
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How To Get TONS of Mortgage Leads
column 5: age
column 6: income
column 7: education
column 8: homeownership
column 9: male
column 10: female
column 11: lead time
column 12: spot rate
column 13: spot CPM
column 14: contract rate
column 15: contract CPM
column 16: contact
column 17: phone
column 18: fax
column 19: email
column 20: address
Your new spreadsheet will be rich with information. While you are at the library
searching all the newspaper and magazine articles, ask the friendly librarian for the directory
of all media and advertising sources in your local area. Make a copy to get you started
compiling your spreadsheet or database. Your sources will be: radio stations, Broadcast TV
stations, Cable TV stations, all newspapers, magazines and newsletters. But ...
The Devil is in the details. On the surface, many offers look great. But when you review all
the data, it may not be such a wise decision.
You have to compare the advertising medium's demographics with your "network's customer
profile." The first detail вЂ“ source - seems obvious. But don't overlook the small publications
like the alternative-entertainment newspaper, music newspaper, parenting newspaper, seniors
newspaper, mindbody newspaper and direct mail postcards or flyers (ask your librarian).
Ad type is obviously for radio or TV. But for newspapers and magazines, it could be a
classified ad, a display ad or an insert. For direct mail it could be a postcard, a flyer or a
letter. Circulation would be interchangeable with viewers and listeners for TV and radio.
Readership is for the print media. Typically, readership is defined as "pass along" circulation
and is usually three times actual circulation. For example, if I purchased a newspaper and
laid it on my coffee table at home, then three other people read it, it had a "pass along"
circulation of three.
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How To Get TONS of Mortgage Leads
Lead time is simply the duration from the ad deadline to its run time. You need this
information to plan the ad payment and collection from your network. Spot rate is
interchangeable with Open Rate. It is just the advertising rate you would pay without any
discounts. Spot CPM is the cost-per-thousand ('M' is the Roman numeral representing 1,000).
Contract rate is your volume discount rate. You have to sign a contract to guarantee a
specific number of ad runs вЂ“ hence the name. Contract CPM - contract rate cost-perthousand. The other details are obvious. Just call every source and ask all the questions to
complete your spreadsheet. Typically, the source would prefer to send a media kit (it's
easier for them because they usually have them packaged and ready to go). However, it takes
longer for you to get your critical information. You make the call.
Making The Offer
Use a sales letter to break the ice. If you are not well-known in your business community - or
completely unknown - you need to establish some credibility with the reader. By using the
company letterhead and envelope combined with the power of the written word, you are
telling the reader two things. First, you are part of an established organization. Second, you
can state your ideas clearly and concisely in a professional manner. Along with the sales
letter, you may want to include an additional page. This would serve as an "RSVP" and
survey. You want the following information to pre-qualify your prospective
network members:
1. What position do you hold at your company? (This will give you a hint if they can
engage in outside advertising. Not all companies allow this.)
2. Do you have the authority to approve advertising? If not, who does?
3. What is your current business volume? (Are they ambitious? New? Or just in the wrong
field?)
4. How long have you and your company been in business? (Are they experienced? If
people are going to use their services and you are doing the financing, their performance
may affect your reputation.)
5. What is your advertising budget? (Do they have money to co-op?)
6. Is the cash or credit available now? If not, when? (Will indicate when to get started with
this person, immediately or put him/her in your tickler file for the future.)
7. What is your level of interest in a co-op advertising venture?
8. I'm scheduling a meeting with the other (3 or 5) co-op advertisers to brainstorm and go
over the details on (date and time). Should I pencil in your name?
I recommend mailing 100 for your first attempt (34 cent stamp x 100 letters = $34. Company
letterhead and envelope free. Voila! Only $34.). To increase your reply, you may want to
7
How To Get TONS of Mortgage Leads
follow-up with a phone call a week later. If you get a huge response, just create several joint
venture groups. You want to keep it small - about 4-6 per group.
Selling The Offer
A smooth presentation virtually ensures success. Since you initiated this venture and
meeting, you are perceived as the leader. Be sure to keep this advantage by being prepared.
Have a mini-packet for each expected guest - plus extras. Your packet should include page
1). your spreadsheet (minus the contact information for each source), 2). sample ads and 3).
Joint Venture Advertising agreement. Begin the meeting by reminding everyone why they
attended: to save 75% on advertising expense, to build business relationships, to refer leads
and maybe even become friends!
Keep the meeting flowing by staying on course. To maintain the leadership of your network,
it's incredibly important to keep the meeting cohesive. If people start "going off" on too much
of a tangent, recognize their idea or statement and bring them back into to the fold. Explain
that you have done all the research and ready to get started immediately.
Review your spreadsheet printout. Discuss each other's customer profile and where it may
best fit. Have a vote on which ad to begin with which source. Get the agreements executed
and place your advertising order. To further cement your leadership and advertising savvy,
you could "take it up a notch" by suggesting the network use ad tracking.
Ad Tracking
Ad tracking determines your best return on advertising dollars. By tracking every ad
response, you know which ads are working and which ads are duds. However, there are five
reasons an ad may not produce results:
1. poorly written headline
2. poorly written ad
3. wrong placement within the ad source
4. wrong source per demographics, and
5. bad timing. (But that's a whole different book.)
Before you cancel an ad claiming "it doesn't work," modify it and run it again. This is known
as testing and is a crucial component to advertising success. Change the headline. Change the
text of the ad. Change the placement of the ad. Keep tweaking it until it produces great
results. Then roll out your major ad campaign and secure those discounted contract rates. But
be sure to use a different ad code for each change. Enter all the information into another 'Ad
Results' spreadsheet and analyze it.
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How To Get TONS of Mortgage Leads
Tracking your ads is very simple. For each ad, either use an extension number with the phone
number, or something like "ask for Mr. Jones." Each ad will have it's own extension number
or name like this:
Sample Classified Ads
Top 10 Reasons To Use A Save Thousands. Free For Sale
Mortgage Broker. Free Report. By Owner Kit. 1-800-555-1212
Call Ms. Jensen at 555-1212.
ext. 454
When someone calls, the operator must get the extension number or the person's name and
write this down on the lead sheet. If you are mentioning a web site in your ad, I suggest
adding lead-in pages for tracking. Instead of abcmortgage.com, it would be
abcmortgage.com/wkaz. Have your webmaster program a simple tracking script вЂ“ or
download this one. Then follow this ad tracking code all the way through post-closing. This
completes the ad tracking cycle to give you the data you need to assess your future ads.
Here's how ...
Ad Tracking Assessment
Ad assessment tells you if you are wasting money. First, create another spreadsheet with the
following columns:
- ad code
- source
- run date
- ad
- circulation
- inquiries
- INQ ratio
- applications
- app/inq
- app/circ
- closings
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How To Get TONS of Mortgage Leads
- cls/inq
- cls/circ
- recissions
- rec/inq
- rec/circ
- fundings
- fnd/inq
- fnd/circ
Here's what the columns mean (excluding the obvious):
ad is the file name located on your computer. For example, if it's a print ad, it might be in
C:\ads\paper\detnews1.gif. If it's a radio ad, it might be C:\ads\radio\WIQB.wav or just a
plain text file telling you where a copy of the ad is physically located.
app/inq is the ratio derived from the total number of applications received didvided by the
total number of inquiries specific to that ad code.
app/circ is the ratio derived from the total number of applications received divided by the
total circulation (or listeners or viewers) of the ad source.
Likewise for cls/inq, cls/circ, etc. [You could also add columns for total applications by
$dollar$ and related ratios.]
[cls= closing, rec=recissions, fnd=fundings]
Second, compare all the ratios for each ad code. Select the highest funding ratio and go wild
with contract advertising in all the appropriate sources.
Operating Your Joint Venture
Maintain leadership through competent operations. Encourage your members to engage in
their own ad tracking - or offer the service for a nominal fee. Meet at least twice per month to
compare ad tracking notes. This meeting would actually morph into a "Master Mind"
meeting as described in Napoleon Hill's book "Think & Grow Rich." As you discuss each
others ad results, review each other's ads, analyze each other's customer profile and the ad
source' demographics. Then assist in re-writing each other's ads, if necessary. Determine your
next course of action as a group ... keep the current ads, modify the current ads, scrap the
current ads or increase advertising. Then repeat.
Does all of this seem like hard work? It's not difficult. It might be tedious. But once
you create the system, it's just a matter of "plugging-in."
In conclusion, your goal is two-fold:
10
How To Get TONS of Mortgage Leads
1. getting leads, and
2. building relationships to secure a stream of leads forever.
Therefore, the real question is not "Is temporary monotonous work worth it?" Rather, "is
short-term tedious market research worth the long-term benefits?"
Once you get the ad group "up and running," you will work smarter and have a
larger pipeline at a fraction of the cost and time. The bottom line is ... would you rather be
a leader of your own ad network or running around the streets? Leave that to the uninformed
rookies!
11
How To Get TONS of Mortgage Leads
Reach 15,000 Military Personnel For Only $15
As the phrase goes, "There's more than one way to skin a cat." I worked at a couple of
different mortgage companies who targeted VA streamline refinancing via direct mail. Their
application rate was a healthy 8% - even up to 20% with follow-up phone calls. Obviously,
this strategy can be a very effective. But it requires a large up-front cost. Not to mention you
are probably competing with dozens of other companies sending their direct mail pieces.
Why not get a leg up on your competition?
Enjoy greater impact on their home turf. People like to do business with like-minded people.
Therefore, if you infiltrate their territory on a regular basis, your name will sink into their
subconscious mind and be readily recognized. When they choose to call you, it's because
they see your name everyday in their comfortable environment. Whereas, "junk" mail may
get opened. But it is usually considered an annoyance - even if they receive a tremendous
benefit. So what's the secret?
Advertise in little-known military newspapers because ...
вЂў
Military base newspapers reach more than 97% of the total worldwide military
population
вЂў
Military base newspapers allow you to cover one base, one metro area, one region or the
entire US
вЂў
Military base newspapers are the only official source of local base news, written, edited
and authorized by the Public Affairs Office and Commander on each base
вЂў
Military base newspapers provide information available nowhere else to military
personnel - changes in regulations, promotions, commissary sales, transportation
schedules, classified ads, sporting events and more
вЂў
Military base newspapers are the only newspapers allowed to have official distribution on
the base
вЂў
Military base newspapers are mostly published by major daily newspapers with first-class
reproduction
Contact the following:
The Flagship
Norfolk, VA
Circulation: 40,000
weekly
12
Sun Press
All Hawaii Military
808-235-5881
Military News
Publishers
Northwest Airlifter
Circulation: 9,200
How To Get TONS of Mortgage Leads
804-446-2750
Ranger
Circulation: 24,700
Tacoma, WA
800-293-1216
Desert Airman
Paraglide
Air Pulse
Circulation: 10,500
weekly
40,000 Fort Bragg
soldiers
Fayetteville, NC
910-484-5433
Circulation: 32,000
Bellevue, NE
Redstone Rocket
Circulation: 20,000
Desert Wings
Edwards
Air Force Base
Tucson, AZ
520-297-1107
Tallyho
Circulation: 30,000
Glendale, AZ
602-842-6000
Huntsville, AL
The Bayonet
Circulation: 24,000
Columbus, GA
402-733-7300
Southern Nevada
805-945-5634
The Dispatch
Circulation: 12,500
Montgomery, AL
334-365-6739
San Diego Navy
Dispatch
Circulation: 25,000
Long Beach Navy
Dispatch
Circulation: 10,000
Ventura County
Navy Dispatch
McClellan Air
Force Base, CA
Beale Air Force Base,
CA
Naval Air Station,
NV
Aberdeen Proving
Ground News
Aberdeen, MD
410-838-4409
916-671-5894
Circulation: 6,000
619-280-2985
Northwest Guardian The Ranger
Tacoma, WA
"White Sands"
Missile Ranger
597-8624
Las Cruces, NM
Circulation: 17,400
The Observation
Post
Circulation: 8,600
20 Palms, CA
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How To Get TONS of Mortgage Leads
505-523-6464
619-367-3577
The Kirtland Focus
Audience: 29,000
Albuquerque, NM
505-344-8891
Fort Sam
Houston News Lead
er
Skywrighter
San Antonio, TX
210-658-7424
Circulation: 30,000
weekly
Wright-Patterson Air
Force Base
513-294-7000
Airscoop
Emblem
Enid, OK
Albany, GA
The Southernmost
Flyer
405-233-6600
912-889-8006
Key West, FL
305-294-6641
Excalibur
Army Flier
Wright-Times
Valdosta, GA
Enterprise, AL
Goldsboro, NC
912-244-1880
334-347-9533
919-778-2000
New York Harbor
Watch
Sentry
Serving entire TriState Area - 77
military installations!
Circulation: 7,000
weekly
Minot, ND
701-839-0946
Reach: 100,000+
weekly
718-769-4400
Some of the above sources represent several military newspapers.
For more ways to reach the military economically, call Armed Forces Communications at
805-968-8000.
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How To Get TONS of Mortgage Leads
7 Magical Words
Gimmick your way to success. Learn seven magical words to quickly grab the lionвЂ™s share of
he market. WhatвЂ™s your gimmick? WhatвЂ™s your hook? How do you attract customers? How
do you create вЂњbuzzвЂќ for yourself? You need to create a вЂњhookвЂќ or phrase to differentiate
yourself.
You need to become вЂњknownвЂќ for something. Have you ever been in an office and overheard
a conversation when someone said, вЂњOh yeah, isnвЂ™t he the one the вЂ¦. (something) вЂ¦. ?вЂќ The
person they were talking about was popular for some reason. Perhaps he or she exploited a
niche and did it so well that everyone talked about him or her. ThatвЂ™s exactly the method
behind 7 magical words. Here they are:
вЂњ$1,200 Origination Fee Regardless Of Loan SizeвЂќ
Welcome to the world of flat-fee origination. This niche requires discipline. You offer a par
rate plus $1,200 origination fee plus all 3rd party costs. ThatвЂ™s it. No more. No less. Ever! At
first you may be tempted to tack on an extra fee вЂњhere and there.вЂќ But resist the temptation at
all costs. If you stick your neck out and retract your offer, your reputation is history вЂ“ and so
is your market share.
Greed will kill your flat-fee business. I know a couple loan officers who told me вЂњthatвЂ™s a
great idea, but why not make it a tiered-fee system?вЂќ For example, they proposed an
origination fee of $1,250 for loans under $150,000. An origination fee of $1,800 on loans
under $200,000. All other loans are charged an origination fee of $2,500. Then they also
suggested вЂњgrabbing an extra ВЅ point or so on the backвЂќ Do you see any difference between
their proposed tiered-fee system and the standard 1% commission? Not much. But what did
they really do?
Greed wiped-out their unique marketing position. By eliminating your unique marketing
position, you give away your business. You become just another loan officer lost in the
crowd. Nothing special. No better than anyone else. No reason for someone to call. And
certainly no вЂњWOW factor!вЂќ
Belief and time will win. At first, real estate agents, builders and others may not believe you
will close a loan without cranking up the fees at the last minute. ThatвЂ™s fine. Re-assure them
that you honor your word and itвЂ™s in writing on the Good Faith Estimate. Once a few loans
have closed and you have proven yourself to honor your flat-fee system, the agents, builders
and others will begin talking about you. Thus вЂ¦. BUZZ! вЂ¦ and greater income with less
origination effort.
15
How To Get TONS of Mortgage Leads
Amazing One Page Letter
I wrote this letter for a client and faxed it to twenty real estate offices five times each in ten
days. He made $7,000 in 14 days and added six new real estate agents to his referral network.
He has granted permission to allow you to use or modify it to your liking. (NOTE: The best
response is to create a newsletter style page using MS PublisherвЂ™s newsletter wizard. Use 2
columns.)
### Beginning of letter ###
How Real Estate Agents Increase Their Commissions
Being a wildly successful Real Estate Agent is hard work. But why is it that I can walk in to
almost any real estate office and pull cash out of waste basket? Many real estate agents are
losing commissions and they donвЂ™t even know it. But itвЂ™s not their fault. They donвЂ™t have the
special frequent meetings. Nor do they have Steve [last name]вЂ™s experience to surf through
the loop holes. Yet вЂ¦
Every real estate agent can add an instant profit center for free. You can benefit from SteveвЂ™s
knowledge and experience without concern to more training or extra meetings. Picture
yourself doing no work whatsoever and gaining a new client that you just told, вЂњSorry, I
wonвЂ™t be able to help you.вЂќ
Many real estate agents flee from unique situations. Considering all the time, energy and
expense you exert to secure a client, it is certainly understandable you would weed out the
tough deals. But thatвЂ™s where Steve [last name] comes in.
Steve is your free profit center. There is no reason to chase the challenging transactions. But
when they do appear, call Steve [last name]. If your clients
вЂў
have a difficult time proving income due to creative tax accounting,
вЂў
if they have credit problems вЂ“ even in bankruptcy or foreclosure,
вЂў
if they have two houses on one lot,
вЂў
if they want to buy a house below market value and finance 100%,
вЂў
if they only have one year on the job,
вЂў
if they have a qualifying ratio of 55% or
вЂў
if they have any out-of-the-ordinary circumstance, call Steve.
16
How To Get TONS of Mortgage Leads
Here are some of Steve [last name]вЂ™s most recent transactions:
вЂў
104% purchase financing where borrower only had 1 year on the job
вЂў
5% down purchase loan with no proof of income
вЂў
refinanced a borrower in foreclosure вЂ“ closed in 5 days
вЂў
$565,750 loan to subdivision developer who ran out of money вЂ“ no proof of income
required вЂ“ closed in 15 days
вЂў
$145,500 purchase loan for borrower turned down 4 times due to excessive obligations,
and
вЂў
a cash-out refinance on vacant land.
DonвЂ™t waste your time. DonвЂ™t lose a prospect. DonвЂ™t damage your reputation. I know itвЂ™s
risky to tell a prospect you can help them when, in fact, you are not sure if you can.
Therefore, give Steve a test. Grab your waste basket. Dig out the credit report of a prospect
you recently sent away. Invite Steve [last name] to your office. He will tell you what loan
program he could offer.
If youвЂ™re happy with the results, call your prospects. Tell them there are no guarantees and no
up-front costs. Buy you may be able to get them financing. They just need to authorize a onepage form. Since these people are prospects you already rejected, you are not losing a
prospect, risking your reputation or wasting your time. You are adding a lucrative profit
center for free.
In todayвЂ™s real estate world, you need an arsenal of financial weapons to beat your
competition. There are dozens and dozens of creative loan programs to increase your
commissions. But that doesnвЂ™t mean you have to spend the time to be the expert. Relax and
pass the buck to Steve [last name] while you grab the easy clients. Add a profit center to your
business absolutely free. Get started today. Your first step is to call Steve [last name] now.
Dial 919-555-1212.
ps. You can call SteveвЂ™s Fax-On-Demand number to retrieve his Pre-Approval form
automatically at 919-555-1212 doc#2. Have your prospect complete and fax the form.
### End of Letter ###
17
How To Get TONS of Mortgage Leads
Top Real Estate Agents Calling You
As consumers become more educated and the internet slowly replaces the MLS, I believe the
FSBO market will see tremendous growth. If youвЂ™re in the mortgage business for the long
haul, why not position yourself as the FSBO expert?
Cultivating your FSBO leads database is free! You can extract the prospects from FSBO
magazines, weekend real estate classified ad sections, web sites that focus on FSBO ads,
driving around your lending area and the great loss-leader: the free FSBO kit. (psd:
idontknow58)
Call all the FSBO prospects and offer a huge carrot. You might call the homeowner and say
this: вЂњHi Mr. Homeowner, before I look at your house, IвЂ™d like to know which mortgage
company you selected for pre-qualifying your home buying prospects.вЂњ They will probably
say, вЂњHuh?вЂќ Then just explain that by signing a purchase agreement without pre-qualifying
an interested buyer, they have taken their home off the market for at least ten days.
Now identify yourself and explain that you specialize in the FSBO market and will provide
free mortgage pre-qualification to everyone that calls to look at their home. In fact, persuade
them to tell all interested parties that they are required to have pre-approval letter from a
recognized mortgage company (you!). But thatвЂ™s not all, letвЂ™s take it up a notch!
Now the carrot gets really big and bright orange. You continue to sweeten the pot by offering
to help them with their FSBO open house for free in exchange for the list of visitors. Be sure
to read a real estate marketing book from the library or BorderвЂ™s. Then teach the homeowner
all the tricks: turn on the all the lights to brighten up the place, set the oven on super low and
squeeze out a few vanilla drops for a pleasing odor, etc. Give them a checklist (from your
free FSBO kit) what to do before the open house including advertising and yard signs.
On Open House day, have a visitorвЂ™s sheet that is required to be signed before entry is
allowed. Capture their name, current address, daytime telephone number and вЂ“ for security
reasons вЂ“ their carвЂ™s license number. Most people donвЂ™t want to discuss this area, but its
crucial. Career criminals could pose as a homebuyer just to вЂњcaseвЂќ a home for future theft.
Therefore, you may want to even suggest a hidden camera pointing at the entrance.
The Open House is done. Now youвЂ™ve got work! ThatвЂ™s right, if you want to be a FSBO
expert, you will have to become a part-time marketer before you get the mortgage leads. If
the open house was a success, then you should have lots of homebuyer prospects to call for a
free Pre-Qual. Plus, you might even have completed Pre-QualвЂ™s at the open house.
18
How To Get TONS of Mortgage Leads
When the homeowner gets a prospect that wants to make an offer and has been pre-approved
by you, contact the real estate attorney to draw up the contract. Then take it from there like
any normal mortgage application.
Now that you have all these leads from the FSBO Open House, letвЂ™s turn the table on the
mighty real estate agents! Parlay your FSBO success into working with the top dogs. Go to a
busy real estate office and ask to speak with their top producer. YouвЂ™ll probably have to do a
little cajoling since the top people donвЂ™t want to be bothered by a loan officer. But tell them
that you have hot, pre-qualified, homebuyer leads that you want to turn over to him or her.
That will get their attention! Do not speak with one of their lackeys (assistants). Only talk to
the top dog or go to the next real estate office. No exceptions. Take no prisoners. YouвЂ™ve
done their work. You deserve the best вЂ“ grab it!
When talking to the top producer, tell him or her that you will exchange them leads for his or
her top 5 juiciest, slam-dunk jumbo mortgages. If they balk, let them know how much
commission they just lost and move on. Since theyвЂ™re probably on a 100% commission deal.
They just lost big cash. If they beg you back, demand the top 7 juiciest, slam-dunk jumbo
mortgages. It might be wise to get this exchange in writing specifying the names, addresses
and telephone numbers of all leads. Also, both of you would need to call your respective
leads and notify them that they can expect a call from Joe Realtor. And Joe Realtor tells his
leads to expect a call from Dave Mortgage Expert.
Of course, you would work all the pre-quals from the open house you gave to the realtor. Just
as he would continue working with the juicy leads he gave you.
This strategy should have Real Estate Agents calling you and catapult you to a top producer
faster than any other method вЂ“ except buying the agency!
19
How To Get TONS of Mortgage Leads
Increase Application Giving Away Free Vacations
For years IвЂ™ve been intrigued by the lack of real marketing within the mortgage industry.
Promotions work! In fact, there is a company that based their entire sales on a sweepstakes.
They are the #1 promoter of magazine subscriptions. Have you guessed who? PublisherвЂ™s
Clearing House. They make millions of dollars. They are so good at promotions, you may
forget what they actually sell.
HereвЂ™s a simple method to increase applications.
Write a fabulous press release and ads that tout a free vacation certificate for everyone that
applies for a mortgage вЂ“ certain restrictions apply. The restrictions are the applicants must
bring all documentation in your office plus provide names, addresses and telephone numbers
of 3-5 homeowners that they personally know. Plus the restrictions on the certificate. Your
travel certificates only cost as low as 20 cents each. The certificates provide the recipient free
lodging at top resorts nationwide. No time-share viewing or any gimmicks whatsoever. This
is unsold hotel space so it is free. The hotel, of course, is willing to offer this because they
wouldnвЂ™t have any revenue if the space remained vacant. They are counting on the traveler
spending money on their hotel, restaurant, bar, gifts and hopefully returning at full price.
You might be thinking, вЂњIвЂ™m already paying for ads, why pay for certificates too? I can buy
leads for 25 cents each.вЂќ Consider this: suppose you spend $800 for 3,200 good mortgage
leads. From that batch you get a 2% reply вЂ“ or 64 people вЂ“ that talk to you and maybe 15
people apply for a loan. Your customer acquisition cost is $53.33 versus 20 cents per
application and advertising costs, which should bring you to a total of no more than $19 per
lead. Which is more economical? Which will generate the elusive word-of-moth advertising?
You guessed it вЂ¦ the free vacation certificate.
Are you beginning to see why all the major corporations engage in promotions? They are
more cost effective and generate the coveted word-of-moth advertising. Best of all, they are
customized with, вЂњCompliments of Your Name.вЂќ
20
How To Get TONS of Mortgage Leads
Sample Certificate & Pricing*
50 Certificates: $25.00
500 Certificates: $100.00
* subject to change
Order Certificates Here
Ps. To comply with RESPA, you must give every applicant a travel certificate when the
apply. NOT if they close the loan or if they are approved.
21
How To Get TONS of Mortgage Leads
How Your Customers Promote You
During my 12 years in the mortgage industry, IвЂ™ve overheard countless loan officers and
sales managers say they want to send birthday cards, Christmas cards and thank you cards to
every customer, every year. This is a great and simple idea. Yet most of the loan officers just
have dusty software вЂ“ including me!
After all the work it takes to close a loan, you are just happy to get a commission check,
right? YouвЂ™ll do the follow-up marketing next week, you say.
All teasing aside, this concept is very powerful. Everyone loves to get birthday and
Christmas cards. And they usually tell people, donвЂ™t they? In fact, I get a Christmas card
from my car insurance agent every year. And, for some reason, I tell people. Then it seems
the next ten minutes is spent with everyone around me comparing their insurance rates and
swapping agent names or phone numbers. WouldnвЂ™t you love to be the topic of that
conversation?
This strategy is easy and you can use any spreadsheet or database software to track when to
buy and send cards. Or you can even do it the old fashion way вЂ“ write it in a notebook! Just
load your software and do a search for forthcoming birthdays next week. Or even easier,
most of the internet portals offer free reminder services. I use YahooвЂ™s reminder service for
my relativeвЂ™s birthdays. It takes 20 seconds to set up and you donвЂ™t have to think about it
again!
Go to your Options area of YahooвЂ™s free email. Click on reminders and enter your customerвЂ™s
data: name, address, telephone number, fax number, email address, notes regarding their
likes and dislikes, hobbies, kids names, date loan closed, loan amount, interest rate, type of
loan and credit score. Set the reminder two weeks in advance of your clientвЂ™s birthday (one
reminder for borrower and another reminder for co-borrower). At that time, you will
automatically receive an email from yourself to send a birthday card. When you send the
card, include a quick approval form, business card or referral form. Of course, Christmas is a
no brainer, right? But you may still want to create a reminder to be sent 3-4 weeks in advance
to remind you to send all clients a Christmas card.
If you want to just point and click instead of running to the store and post office, try here.
22
How To Get TONS of Mortgage Leads
Automatically Get Targeted Leads Without Buying A List
If you build it and promote it, they will come. This is the oldest trick in the mail order empire
вЂ“ itвЂ™s The 2-Step Freebie. It goes like thisвЂ¦
1. place a blind classified ad offering a dynamic free report that is only available at your
web site. Be sure to capture their information online or via 1-800# using ANI capture,
and
2. the free report and follow-ups sell your product. Thus, building a database of targeted
prospects inexpensively. For example,
Turned Down Again?
Learn 5 steps to get approved
for a mortgage. Free report
and vacation certificate.
1-800-555-1232 ext. 33
www.yoursite.com/adtrack
Simply send the respondents the free report and vacation certificate along with your quick
approval form, company brochure and business card. Change your free information to attract
whatever customer you choose. The more specific you ad, the more targeted your leads. As a
safety net, I recommend using some form of data capture. If the person hangs up before
leaving their information, you still get their telephone number.
Here are two strategies to capture their information:
1. Rent a voicemail box that uses ANI (Automatic Number Identification) NOT caller ID.
Caller ID can be blocked by simply pressing *67 before dialing the number. Plus it is not
available in all areas. To get ANI, you usually have to go through a phone carrier вЂ“
Sprint, Bell South, etc. You can also call Communications of America, Inc. at 1-800-4545930. With this method, you will receive a report of all phone numbers who call your ad.
Then do a reverse search in BresserвЂ™s Reverse Directory or go to InfoSpace.com. When
you get the callerвЂ™s address, send them the report (wonвЂ™t they be surprised!!).
2. Use a 24-hour per day live operator answering service. (Look in your local yellow pages
under secretarial services). This is more expensive but some people prefer to talk to a live
person. Be sure to operator only mentions the title of the report and nothing else.
In either case, be sure to mention the information is completely free and no obligation. When
offering the free report at your web site, donвЂ™t make the mistake of publishing the entire
23
How To Get TONS of Mortgage Leads
report. That defeats the whole purpose вЂ“ building a targeted leads database. Instead, tweak it
вЂ¦
A naked page gets better results. Your entire goal is to capture the visitorвЂ™s email address!
Therefore, вЂњ86вЂќ all links .. thatвЂ™s right вЂ“ delete all links. You only want 4 things on this web
page:
1. a couple short paragraphs describing the benefits of your free report in glowing terms
2. remind the reader about the free vacation certificate
3. tell the visitor he or she receives the report and vacation certificate instantly and
4. tell him or her you do not share, trade, rent or sell their email address.
If you visitor thinks youвЂ™re trying to sell them something, you wonвЂ™t get their email address.
But IвЂ™m just getting warmed up вЂ¦
Put everything on automatic pilot. Weed out the tire kickers. Even though your classified ad
and free report is aimed specifically at a certain customer, you will still get shoppers
(probably other loan officers!). DonвЂ™t waste time with people who arenвЂ™t ready to commit to
a loan application. Let the email autoresponder and your web site sell them. When they have
questions your site doesnвЂ™t cover, they will call if you constant suggest it. (Remember, most
people are only conducting research online. You need to tell them to call you.)
The internetвЂ™s answer to fax-on-demand is called an autoresponder вЂ¦ or email-on-demand.
You type your sales letter or report. Upload it to your autoresponder and promote away. The
beauty with these autoresponders is the multiple follow up feature and email capture. You
determine how many informative letters and reports the recipients receive as well as how
often. Included in each email is a link for the recipient to вЂњunsubscribeвЂќ (or remove
themselves from your email list; вЂ¦ you certainly donвЂ™t want unhappy prospects.)
I recommend sending the first report immediately. Send the second report five days later.
You might ask if they have any questions regarding your free report entitled вЂњ5 Steps To Get
Approved For A Mortgage.вЂќ Also encourage them to call you. Furthermore, include a вЂњpsвЂќ
that suggests using your free mortgage calculators at your web site вЂ“ or call you for more
specific вЂњwhat ifвЂќ scenarios.
The third email might be delivered five days after the second. It could be вЂњTop 10 Items You
Need For Your Loan Application Appointment.вЂќ And you could continue on and on and on.
But always include a sense of urgency to call you and a вЂњpsвЂќ in your letter. Since these
autoresponders are free, I encourage you to create one for each free report. This will easily
identify your targeted leads.
24
How To Get TONS of Mortgage Leads
HereвЂ™s how to offer instant free vacation certificates:
1. scan your customized vacation certificate and save as a graphic file
2. upload your vacation certificate graphic file
3. in the autoresponder, include the graphic link. Eg. Yoursite.com/vacations.gif.
25
How To Get TONS of Mortgage Leads
How Real Estate Agents Advertise You For Free
The forgotten e-tool strikes back. With the hype of the internet, it seems most people have
forgotten the good olвЂ™ fax machine. Several people I talked to are tired of waiting for the
computer to вЂњboot-upвЂќ just to check their email or reply to an ad. In this instant-gratification
world we live in, people want results now. So give it to them.
Benefits of fax-on-demand:
вЂў
no вЂњboot-upвЂќ time
вЂў
90% of offices own a fax
вЂў
75% of home offices own a fax
вЂў
instant results
вЂў
can retrieve the fax from any KinkoвЂ™s, UPS Store, etc if donвЂ™t own a fax machine
вЂў
very affordable
вЂў
no computer programming knowledge required
вЂў
only 67% of America is connected to the internet.
Real Estate Agents may be losing business. Do you see any fax-on-demand (FOD) numbers
in real estate ads or business cards? Just telephone numbers and websites, right? But most
people donвЂ™t want to talk to a sales person until they are ready to buy вЂ“ even then they donвЂ™t
want to. Therefore, there is a high probability they wonвЂ™t call the agent. Additionally, with
only 67% of Americans online, the agent has numerous missed opportunities. This helps you
because you can educate the real estate agent of these facts. Thus вЂ¦
Bring the real estate agent in your loop. Every good sales person has a pre-qualifying or prescreening process. Typically it is as easy as a one or two page form. Offer the agent to host
his or her pre-screening forms on your FOD free. In exchange, the last page of the FOD
request is your pre-approval form. Your free service allows the RE agent to concentrate on
the serious clients and prospect 24/7 with classified ads:
вЂњBuying a home? Free Vacation! IвЂ™ll search the MLS. Tell me what you want. Use this
easy form. Fax-on-demand: 555-0000 doc#4.вЂќ
The caller will receive 1-2 pages of the real estate agentвЂ™s вЂњpre-screeningвЂќ forms. Plus page 3
is your pre-approval form. The twist is if the callers want the free vacation certificate, they
have to complete and fax or mail your pre-approval form. Now you have a lead too. Be sure
to mail the vacation certificate promptly and include more marketing material. You can find
26
How To Get TONS of Mortgage Leads
quality FODвЂ™s by running your fingers through the Yellow Pages. Or go to American Voice
Mail.
Your FOD strategy can have many referral partners. Many FODвЂ™s offer several boxes or
document numbers. Each box or document number can usually hold up to 10 pages.
Therefore, if your $20 per month FOD contains 10 boxes, thatвЂ™s only $2 per month per
referral partner (RE agent, Home Builder, Contractor, etc) and they are advertising you!
HereвЂ™s a thought .. think outside the box for referrals and offer the free fax-on-demand
service to every organization in your lending area. They all have meetings, calendars and
forms that their members request. Now they can refer them to their free FOD вЂ“ which has
your pre-approval form. Possible targets: PTA, restaurant menus, Jaycees, churches, home
builders, financial planners, accountants, child care centers, schools, etc. Review your local
Yellow Pages for more brainstorming.
27
How To Get TONS of Mortgage Leads
How To Legally Pay $100 Referral Fee To Non-Real Estate
Personnel
Using just this one method can provide you with all the material goodies and toys your heart
desires. Approach several religious organizations in your area - churches, synagogues,
mosques, etc. Ask to speak with the priest, rabii, etc regarding donating to their general
development fund.
Here's the offer: you will donate $100 to their general development fund for every loan
funded from a member of their organization. Additionally, request that the minister, priest,
rabbi, etc announce your new generous offer in their organization's bulletin and during the
end of the mass or service. If they don't provide a free ad, buy one! Here's a sample:
I Pay $100 Cash to [church name] General Development Fund for
each closed mortgage loan. Purchase вЂ“ Refinance - Equity Loans.
Call Tony at 555-0000
To make this legal, RESPA enforcement says the loan officer (not the mortgage company or
loan applicant) must write the check from their personal account and take the charitable tax
deduction on his or her taxes. Be sure to keep all paperwork if you get audited.
Here are two other options:
1. Buy a mailing list of church-going homeowners and send a postcard similar to the above
ad.
2. Print on your business cards: "I donate $100 per funded loan to
your church. Ask me
for details." (Or even go crazy and wear buttons like Herbal Life distributors "Lose weight. Ask me how." Crazy enough to make some people very wealthy!)
28
How To Get TONS of Mortgage Leads
Parent Marketing вЂ“ The Easiest Niche
What segment of our population usually owns their home or has a burning desire to own their
home? PARENTS! You want your children to grow up playing in a backyard, don't you? Of
course you do and so do most parents.
Here are a couple ideas to reach parents.
1. For parents who are renting: Create a brochure or flyer with children playing on a merrygo-round or backyard swing set with a caption:
Watch Your Children Play in Your Backyard!
Become a Homeowner Today.
Discover our New Loan Programs
вЂў
вЂў
No Money Down
No Out-of-Pocket Expense
вЂў
вЂў
EZ Qualifying
Free Pre-Approval
Call Johnny Now!
(919) 555-4444
2. For parents who own a home: Create a brochure or flyer showing progression from
toddler to college graduate or entrepreneur with this caption:
Give Your Child A Headstart!
Begin Their Future Today
Your child can live their dreams.
29
How To Get TONS of Mortgage Leads
They can go to college, be a famous artist.
Or anything they want to be.
Learn how homeowners just like you are
making it happen for their children.
Call Jane Now!
(919) 555-3333
Work with a financial planner on this one. Do a refinance or equity loan at a fixed rate and
consolidate all their debt. With the new monthly savings, the parents then put that amount
into a dollar-cost averaging program created by the financial planner. The financial planner
will be buying you lunches - and giving you referrals!
Three ways to reach parents:
вЂў
Buy a mailing list - parents who rent/own their home
вЂў
Place take-one brochures on the counters of Child Care Centers.
вЂў
Financial Planners - propose a joint venture advertising campaign using their current client list.
Families on a budget would most likely use the dollar-cost-averaging approach to secure their
children's future. The financial planner can establish that plan and use the cash infusion from your
loan.
30
How To Get TONS of Mortgage Leads
Speak To 1,000вЂ™s By Pressing One Button
Imagine recording your ad, pressing a button and 5,000 people per day
hear your message. This
little beauty has been available for years. Welcome
to the wonderful world of autodialers!
An autodialer (AD) is exactly what it sounds like (I think Einstein named
it). It automatically dials
telephone numbers so you don't have to. There
is no need to pay telemarketers. No need for
advertising expenses. No need
for anything. Just the deposit and monthly bill for 2-4 phone lines.
If you
call locally, you don't even incur phone expenses! If you don't call locally, use the flat-rate
calling plan for telemarketing.
You just load all the names and telephone numbers in your calling area. Record your message(s) and
program it to run 9am - 9pm Monday through Friday and 11am-6pm on Saturday. Most AD's can
now recognize whether they get a live person, an answering machine, a busy signal or no answer.
Therefore, you need to record two messages, one for the answering machine and one for the live
recipient. If the AD reached a live one, you need a series of yes and no questions. For example, "Are
you the homeowner?" Press 1 for yes, 2 for no. "Did you know the public records indicate you have
cash in
your house?" Press 1 for yes. 2 for no. "Would you like to extract that cash?" Press 1 for
yes, 2 for no. The AD companies have great and proven prompts for you to use.
The rest of the information has been deleted due to the new Federal Telemarketing Law. If you want
to continue with auto dialers, tread at your own peril. Search Google.com.
31
How To Get TONS of Mortgage Leads
Why Restaurants Love To Promote Your Pre-Approval Form
Restaurants can be eating out of the palm of your hand. They get
free
printing and mailing. You get your pre-approval form in a
high-traffic position. It doesn't
cost them one single penny.
It's a win-win proposal.
Have you ever noticed the "Free. Take One" brochures near the cash register at many
restaurants? It's the stand-up tri-fold brochure. Usually it's a credit card application, mini
homes magazine or a free health club membership. Now you can get premium positioning by
offering a unique advantage.
Offer to print and mail the restaurant's coupons for free. Here's how:
design your
brochure with an attractive cover. On the inside (left)
are the highlights of the free
vacation. On the right, is your pre-approval form. Upon receipt of the pre-approval form (fax
or mail), the prospect will receive their free vacation certificate and a "special" coupon from
[name of restaurant]. Have the restaurant design the coupon and simply copy it to send with
the vacation certificate. (You may want to code the coupon so the owner of the restaurant can
monitor the success of the program. Thus, providing information that it works. This helps
maintain your premium counter position.) Do this with as many restaurants, gas stations, golf
courses and any business that has high "foot traffic." Get creative!
Sample Pre-Approval Brochure Cover
32
How To Get TONS of Mortgage Leads
A Private Club Can Net You Thousand$
As Ross Perot once said, "Find a niche and service them quietly so your competition doesn't
discover your niche." That's exactly the trick with this secret. You'll be so excited with only
2-3 other loan officers competing for the loans that you may have a difficult time keeping
your mouth closed. But forego the temptation or you will decrease your income. This is a
goldmine that many loan officers don't want to deal with because it is a paperwork
nightmare. But, get a great processor and study everything about their business and you'll
make big bucks!
Here's what you do: join a local or regional real estate investment
club. Advertise in their
newsletter and participate in their meetings. In
fact, register to be a speaker at one of the
meetings. You may want to discuss how to maximize cash out and avoid the maximum LTV
imposed by Fannie Mae and Freddie Mac for 1-4 units. Teach them the old 2-step refinance.
Refinance with a non-conforming lender at 90% cash out. Then wait 6 months and refinance
it (no cost) to a Fannie Mae or Freddie Mac rate and term. The higher interest rate during the
six months is a great tax write-off and they get the cash out of their equity to buy more
properties that you finance.
To find real estate investment clubs in your area, go to Creative Real Estate Online. If you need
a high LTV cash out rental lender or other hard-to-find sources, join WeirdLoans.com.
33
How To Get TONS of Mortgage Leads
FSBO Commission Before Writing The Loan
Easily break into the FSBO market with tiny, inexpensive classified
advertising like this:
SAVE THOUSANDS
Free For Sale By Owner Kit.
555-0000 ext. 412
yoursite.com/fsbo
This accomplishes two things:
1. secures FSBO leads to use in conjunction with real estate agents calling you, and
2. earn a commission before writing the loan. Here's a couple websites that pay commission
to sell FSBO listings. Simply offer to list the homeowner's property on these sites. They
are:
ForSaleByOwner.com
ForSaleNetwork.com
Sell It By Owner
Get your free FSBO kit (psd: idontknow58)
34
How To Get TONS of Mortgage Leads
The Quadrant Route To Success
If you're not in their faces, you won't get the loan. Remember the old saying, "Outta sight is
outta mind?" That certainly holds true in
referral sales. If this is your chosen path to
success, then here is a solid
plan that works.
First, get a map of the area you choose to work. Draw a square around it. Then split it in four
equal boxes. Now you have four quadrants.
Second, use your trusty - or dusty - Yellow Pages CD-ROM. Export all your potential
referral sources within the entire box into a database or spreadsheet program. This could be
real estate agents, financial planners, builders, accountants, insurance agents, car dealers,
home improvement dealers and collection agencies.
Third, create three categories: A, B and C. For each quadrant, you will choose 'A' referral
sources, 'B' referral sources and 'C' referral sources. The 'A' sources are those that you expect
to produce the greatest results - i.e. give you loans. The 'B' sources you would expect fewer
loans. And the 'C' sources, you would expect very few loans. [D sources? Those are the ones
that dropped out of A, B and C. Deadbeats!] If you don't know anyone in any quadrant,
choosing which source goes into which category is more or less random until you hit the
streets. Initially you may want to go by shear size of their operation (listed in the details
section on the CD-ROM if you are using InfoUSA.com).
Fourth, now you "pound the pavement" and "press the flesh" with
all your fantastic
marketing materials and ideas from this book and others. Remember to look sharp, be alert
and charming. Most of all
- solve a problem fast and make it easy!
Here's how to use the quadrant system:
On Monday, you visit referral sources in quadrant '1.' On Tuesday, you visit referral sources
in quadrant '2.' On Wednesday, you visit referral sources in quadrant '3.' On Thursday, you
visit referral sources in quadrant '4.' On Friday, you take the day off! Just kidding. Here in
the South it seems like everyone takes off Friday. But your Friday will consist of visiting
anyone you missed during the week plus any paperwork that needs attention. This system is
designed to minimize you running around aimlessly like a chicken who just got its head cut
off. But what about those mysterious sub-categories A, B and C?
35
How To Get TONS of Mortgage Leads
To avoid being a headless chicken in a smaller territory, you have three categories of referral
sources - A, B and C. Remember, you expect the most loans from A, fewer loans from B and
very few loans from C. That being the case, complete your day planner - yes, write this down
in advance - to visit the 'A' list about 3 times per week. Visit the 'B' list 5-7 times per month.
And visit the 'C' list about 3 times per month.
These lists are not set in stone. You are the master. Change them at will. As you travel your
daily route, make notes for each potential referral source. If you think a 'C' source may turn
into an 'A' source, rewrite your list. Swap the 'C' source for the 'A' source and monitor the
results. Analyze your lists weekly or monthly to determine whom to fire or promote. This is
your business. Don't waste precious time with deadbeats. You can socialize after hours.
This is not an exact science. You need to train your referral sources! For example, if you are
in quadrant 2 and get a page from a referral source in quadrant 3, before you interrupt your
schedule, be sure you're getting an actual loan. Ask the source if their client has completed
your quick approval form from your website or fax-on-demand! (Use these 24-hour-a-day
sales assistants to the max!) Then call your processor and request a credit report and grading.
If all is well, then meet them. You have to remain in the driver's seat or you will be that poor
chicken!
In conclusion, for the person who enjoys 'hitting the streets,' this is the
best system I have
seen. I used it and it worked. But the key is consistency. Get your face in their office on a
regular basis. Be helpful. Train them to work with you efficiently. Teach them a little of what
you know. (Not too much or they won't need you.) And never, ever eat lunch alone. Invite
someone from your 'A' list and let the IRS share the tab!
36
How To Get TONS of Mortgage Leads
How To Get Every Envelope Opened
If you send a standard, bland envelope (or worse - a
company envelope), do you think it
is opened? Are you sure? Especially if it has your company name as the return address.
Remember the consumer is much more educated these days. If someone sees a mortgage
company in the return address and they don't have a loan with you, most people would
assume it is junk mail. If they do open the envelope, their state of mind will not be conducive
to selling. You need to put them in the emotional and susceptible state of mind.
Recall the last time you received an unexpected over night delivery or priority mail. Were
you anxious? Excited? Did it put you in a more curious and positive state of mind? I bet it
did. It does for most people. So why don't we use priority mail to send our titillating offers?
PRICE. It's too damn expensive, isn't it? But what if you could send envelopes that looked
almost identical to priority mail or UPS envelopes at a nominal price and only pay 1st class
or bulk mail rates? Would you? Now you can!
Using these great envelopes virtually guarantees it will be opened with
ENTHUSIASM!
Now it's your responsibility to write a compelling sales letter to induce them to call you or
visit your website. (Here's an idea, use the free vacation certificate combined with the
Persuasive Sales Letter Outline.)
Now we're talking powerful, right? Pretend you just got home at 7pm and you are opening
your mail. You see the stack of mail - bills and junk. Then this priority mail envelope jumps
out and says, "open me first!" At that moment, you reach for the envelope either thinking, "I
didn't order anything" (curious and confused) or "what's in HERE?" (curious and excited). In
order not to lose you, the marketing pro know he or she has to overcome that first hurdle curiosity. The pro already got your attention. Now he or she has to get your interest. You
may want to start the letter with - Congratulations! A FREE Vacation Certificate has your
name on it! Imagine you and your loved ones on the sunny, warm beach of Miami. Or
playing with Mickey Mouse in Orlando. вЂ¦. Or something.
37
How To Get TONS of Mortgage Leads
Are you getting the idea? Find all the Publisher Clearing House' direct mail pieces and model
them! (Beware: promotions can be so much fun that you may not want to write loans
anymore. Like me!)
You can get these great envelopes here.
38
How To Get TONS of Mortgage Leads
Outsource Marketing Letters For Pennies
Distribute your direct mail campaign with a couple clicks. No more schmoozing your
processor or receptionist to do your "dirty work." No more wasted hours licking horribletasting stamps when you could be making sales. Just put your leads database and sales letter
in the proper format. Upload it to ZairMail.com and focus on sales and closing loans.
If you are more comfortable with a face-to-face service, call one or more mailing services
listed in your local yellow pages under "Mailing Services - Print and Mail."
They merge, fold, stuff, print and mail your entire direct mail campaign. This saves a ton
of time and allows you to focus on follow-up phone calls for more sales. Your time is worth
far more than the $8.00 per hour job of merging, folding, stuffing, printing and mailing!!
Remember, you are a Mortgage Professional. ItвЂ™s time to get paid like one. Not $8.00 per
hour.
39
How To Get TONS of Mortgage Leads
Hire Professional Sales Letter Writers
People buy based on emotions. Why not let the professionals with
dozens of years
experience tug those emotional strings? In less than
a week or two, you can have a
dynamic, emotionally-charged sales letter using all the trigger words that prompt the reader
to call you.
If you choose direct mail, essentially you have four choices:
1. write the sales letter yourself,
2. use money-saving templates
3. hire professional writers, or
4. buy letters from loan officers who write their own letters and make
40
great claims.
How To Get TONS of Mortgage Leads
Local Internet Advertising Bargains
There's a myth online that you cannot buy affordable local advertising.
But that is
absolutely crazy. Since the internet is just a network of computers, programmers can write
code to have the computer do many things...including detecting geography вЂ“ called geoTargeting.
When you log on to the internet, you are automatically assigned an address. It's called a
dynamic internet protocol - in most cases. This dynamic IP is your computer's address while
you are online for that session. Marketing companies use that IP address for many reasons
including "geo-targeting."
Geo-targeting is exactly what it appears so infer. Advertisers can buy ad space based on
geography, or location. For example, if I want to target residents of Dallas, TX, my
advertising representative notifies the data entry people. Now any banners or email
advertising I purchase will only be displayed to people in Dallas, TX and surrounding areas.
Any ad agency worth their hype can provide geo-targeting. But the least expensive method
while advertising on name-brand websites is a little-known, self-serve service called Amazing
Media.
Through AdVariant.com, you can be on websites like AOL.com,
Weather.com,
Advertising.com, WashingtonPost.com, ChicagoTribune.com, SFGate.com,
About.com,
iWon.com, BizJournals.com, InfoSpace.com, MP3.com, apartments.com,
Live365.com,
The Atlanta Journal Constitution, eUniverse.com, Excite.com,
Forbes.com,
VerticalNet.com, IntelliCast.com, NetZero.com and
RegionalHelpWanted.com for as
low as $38 per month. Check the current name-brand sites here.
Other avenues for local, online advertising include Yellow Pages like
and SuperPages.com by Verizon and your local radio and TV stations.
Yahoo Yellow Pages
If you want to pay slightly more, you could have an advertising agency
handle
everything. Like, FastClick.com or ValueClick.com. These agencies only charge you when
someone clicks on your ad. NOT just for displays (a/k/a impressions).
41
How To Get TONS of Mortgage Leads
Never Leave Your Desk For Open House Leads
Here's the easiest and most ingenious way to cultivate home buying prospects plus grab real
estate agents and builders as new referral sources.
Place the following boxed classified ad in the real estate section of your major metro
newspaper(s), alternative newspapers, parenting newspapers and "shoppers" newspapers
(expand to the Homes magazines when budget allows):
FREE OPEN HOUSE LISTINGS
delivered weekly to your door, fax or email.
Subscribe for free or place a free ad.
Recorded Details: 555-1212
Record a message similar to this: "This is a free service for the Raleigh
Metro area.
Anyone who has a home for sale may place their 4-line ad for free. All real estate agents,
builders and for sale by owners are welcome. To place your free ad, call Dave at (919) 5551212. To receive your weekly open house listings for free, leave your name, address, city,
state, zip, telephone number, fax number and email address plus your preferred delivery
method: fax, email or US mail. Thank you for calling."
This ad may not seem Earth-shattering, but let's analyze what's really going on. First, you
will have current and potential home buyers calling to get the free listings.
In fact, by using a recorded message you will increase the number of callers because they
believe a salesperson will not contact them. Therefore, your database of prospects will also
include people who aren't quite ready to purchase their home, but want to start looking
without the pressure of a salesperson. Working these leads will help keep you in business
"down the road."
Second, some real estate agents and builders will call because they want their free ads
delivered to "your" home buying leads. They will probably call you and ask, "What's the
catch?" Tell them the only catch is that you get their complete contact information for future
marketing purposes. Upon receipt, each week you will place all their listings for free. That's
it. Don't push for a meeting at this point. Your focus is the open house listing delivery
service. You will have plenty of opportunities to secure a meeting with the real estate agent
or builder. And I'm certain they will be surprised and appreciative that you did not pitch them
42
How To Get TONS of Mortgage Leads
immediately. In fact, they will be flabberghasted to the point of telling every real estate
agent. Your name may circulate just for this simple reason! Which is the goal, isn't it?
Third, you now have leads of current and potential home buyers plus possible new referral
sources. Or do you? What if someone doesn't leave their contact information? Did you waste
money advertising? Or should you use a live operator service? I suggest a recorded message
because the Direct Marketing Association agrees that the two magic words, "Recorded
Details," increases the volume of calls. Which leaves us with the challenge of capturing the
caller's information so it is a genuine lead.
High technology to the rescue! Technology can be both a blessing and a curse. In this case,
it's a blessing. When you get your voice mail number, be sure to use ANI or Caller ID. I
suggest ANI (Automatic Number Identification) because it captures all numbers and cannot
be blocked. Whereas Caller ID is not available in all areas and the caller can press *67 to
block the Caller ID before dialing your number. ANI is a little more expensive, but worth it.
Typically, you will have to utilize the services of your local telephone company. Or you can
contact Arch Telecom or American Voicemail. Now that we have their telephone number, let's
use more wonderful and free technology in our pursuit of easier big bucks.
A telephone number is virtually worthless without identifying the recipient. Imagine
telemarketing like this: "Hi, this is Dave with ABC Mortgage. Tonight I'm offering to put
cash in the pocket of homeowners like yourself. Who am I speaking with?" This might work
where I live in the friendly and humid South. But in many parts of the country, people would
hang up or tell you where to go! Which means you never got the chance to get their name
and address to send them follow-up mail. Here's the solution.
Reverse telephone number lookup is the key. Bear in mind, you won't find all the numbers in
your search because some will be unlisted numbers and the main databases only provide the
listed telephone numbers [more on that later]. But the listed numbers are all there and the
information is free. Log on to the internet and go to infospace or whitepages. Click on their link
for reverse lookup. (Sometimes it's a real small link so look hard.) Once you are there, just
type in the area code and telephone number. Voila! The person's name and address appear
like magic. If it doesn't, fire the magician!
Seriously, if the number isn't in the database, it is either a business telephone number or
unlisted. If it's a business number, just go to
the yellowpages. If you don't have internet
access, then go to your local public library and use their free internet access. Or ask the
librarian for Bresser's Index. This is a reverse telephone directory in print. By now you are
probably thinking.....
"Are you crazy? This sounds like alot of work. And I'm not in the publishing business!"
Here's the beauty of this litle gem.
43
How To Get TONS of Mortgage Leads
вЂў
You are getting all the contact information of prospective homebuyers (recipients of the
free open house list).
вЂў
You are getting FSBO leads (do the mortgage from their buyer and open house prospects
plus finance their purchase).
вЂў
You are getting contact information of real estate agents and builders that may send you
loans, and since you are the publisher,
вЂў
you can include any ad(s) you want - yours!
Would you rather chase prospects "pounding the pavement," or collect a toll for people to use
your road? Now let's cover the details.
The operation is simple. Boring, but simple. If you operate this service
alone, put on a
pair of headphones and crank up your favorite tunes. Before you know it, you'll be done.
Here's what you will need: database software, word processing software, paper, envelopes,
stamps and a typist.
Here's what to do: as the listings and subscription requests come
in, enter all the
information into a database. (You may want a few different databases. One for new referral
sources. One for home buyers. And one for listings.) Every Wednesday print the listings for
that week. Deliver them to the subscribers by their preferred method. This means you have to
'print to a file' for the email and fax deliveries and print on paper for the postal mail
deliveries. You can fax or email directly from your computer for free. Your only real cost is
the paper and postage for postal mail deliveries. I suggest a Wednesday delivery so the
subscribers who chose postal mail will have the listings for the weekend open houses. I also
suggest imposing a deadline for listings such as Thursday or Friday before delivery date.
That's it! Are you brain dead yet? Was that boring? Let's spiff it up.
You are not a publisher. You are a publisher in disguise! Remember your purpose is to create
a leads system. But, as the publisher-in-disguise, it is your discretion what is included in your
publication.
Here's what I recommend:
1. a title page
2. all the listings in logical order and columns
3. a full page mortgage pre-qualification form with a coupon at the
top of the page. The
coupon would be "Free Vacation For Two" if provide loan documentation and this
completed pre-qualification form in person. Certain restrictions apply. Call for details.
Help a friend: Please copy this form and pass along to a friend. Would you expect any
44
How To Get TONS of Mortgage Leads
phone calls with this coupon? I certainly would! In fact, you might even be the talk of the
town.
In conclusion, this is perhaps one of the most economical leads system ever! Be persistent.
Your service will become popular. To jump start the popularity, call your local media and
announce your new free service in a press release. If you discuss your free service as a
service and not a marketing strategy, you might make it to the presses. Enjoy the good life of
a publisher-in-disguise.
45
How To Get TONS of Mortgage Leads
Birthday Surprise Spreads Your Name Like Wildfire
Here's a simple marketing twist that is sure to get people talking about
you. How many
times have you received a birthday card from a stranger? Let alone...a loan officer you never
met? Probably never. And that is the beauty of this strategy.
Buy a cross-referenced mailing list from Best Mailing. Request they merge the birthday
database with homeowners in your target area. Then send them a birthday card with your
business card and a pre-qualifying form that offers a free vacation certificate upon receipt.
(That will teach the lazy loan officers who only dream about sending birthday cards to follow
up!)
ps. Be sure it is a real birthday card. Not just a note on your letterhead.
46
How To Get TONS of Mortgage Leads
How To Get A Free Booth At Home Improvement Shows
Why pay for an expensive booth at a Home Improvement show when you can get it for free?
Just go to the show with dozens of your business cards (and your new prepaid calling
business cards), a couple pens and your mortgage calculator. Observe which Home
Improvement dealers are getting the most traffic. Go to that booth and ask questions about
financing a room addition (or whatever they are selling) and pull out your calculator to
crunch numbers before he/she does. Then write the info on the back of your business card.
Show him/her the card to see if the numbers are correct - making sure you
show them
that you are in the mortgage business. Then offer to do the "number crunching" for all the
prospects at his/her booth. He/she can focus on selling the products and you can provide a
valuable service as the "numbers person."
Before you know it, the HI dealer will ask you behind the booth to work with him/her. You
now have a free booth and a new referral source. Plus all the prospects have their payment
info on your business card (and give them the free prepaid calling cards). All in all, not a bad
weekend, eh?
47
How To Get TONS of Mortgage Leads
Free Voice Mail Advertising
This little gem is free and get's people talking! I did this when I was a
wholesale rep.
Instead of leaving the usual boring message of "Hi, this is Dave with Unimaginative
Mortgage. Please leave your name, telephone number and brief message after the tone." Say
something like: "Hi, this is Dave with Creative Mortgage. If you apply for your loan by 5pm
August 4, 1999, I'm paying your appraisal! Please leave your name, number and brief
message after the tone." Or try: "Hi, this is Dave with Creative Mortgage. This week I'm
offering free credit counseling to all homeowners. Please leave your name, number and
message after the tone."
Be sure to change the message every week, or daily, to keep it fresh. Tailor your message to
your customer profile. Obviously, the examples above could be used for a retail loan officer not a wholesale rep.
When I was a wholesale rep, I would change the message weekly. Fortunately I worked for a
company that had weekly specials so I didn't even have to think. I just read the flyer! But the
point is when one loan officer heard the message on my voice pager, he told everyone in the
office. It wasn't long before most of the office was calling just to hear my message. This
helped "break the ice" and lead to more sales.
48
How To Get TONS of Mortgage Leads
Get Perpetual Leads By Being An Expert
Instead of running around telling everyone, "I'm a one-stop shop. I do it all!" Study one area
of mortgages and be the best in your location. A "me too" person doesn't stick out of the
crowd. For example, suppose you enjoy teaching first time homebuyers that they really can
buy a house with little or no money down. If this is going to be your niche, research every
possible program and create a brochure highlighting key points but not giving away the farm.
Your research should cover everything! FHA, VA, Conventional, Jumbo, State programs,
rural programs, credit situations and yes even Carlton Sheets' program. If you can't find all
the info you seek on a loan program, take a course or two. Even call a wholesale underwriter
and ask for lessons. Tell them you want to provide the best-packaged loans they ever saw but
you need to learn more details of their programs. You might be pleasantly surprised!
Now that you are an expert, TELL EVERYONE! Don't walk into offices and say, "Hi, I'm
Johnny Wombat with XYZ Mortgage and I'm an expert in no money down mortgage
programs." What kind of reaction do you think you would get from a real estate agent?
Probably, "Yeah, you and half the loan officers in this town. Put your material over there."
Here's how to generate huge demand for your services:
1. Zero in on one specific topic and write an article. Then get it published in all Real Estate
publications - national and regional. For example, write an article entitled "3 Ways To
Buy A House No Money Down in Less Than 60 Days." This may pique an editor's
curiosity enough to publish your article - especially written by a full-time mortgage
professional instead of someone just selling books!
To locate all the real estate publications, go to your trusty local library and ask the friendly
librarian for Gale's Directory of Publications. Ask them to help you find the real estate and
mortgage publications. Also ask them for the newsletter directory. You may also want post
your article at goArticles.com and ArticleCentral.com. Then search for all real estate websites
and propose they include your article with your copyright and contact info intact. The benefit
to the real estate agent is they can promote the article to get traffic to their site. The benefit to
you is obvious - self-promotion and a link to your website.
Next, call all the publications found and tell them you are a researcher and loan specialist for
legitimate no money down programs and need to know whom to send a press release. Get
their name, telephone number, fax number and email address. Send it to that person and
follow up a few days later.
49
How To Get TONS of Mortgage Leads
2. Convert your article to an "Advertorial." This media buzzword has been around a long
time. You may have heard it and wondered what "big" secret the marketing people are
keeping. It's simply an Advertisement and your Editorial (article). (Clever, eh?) To
spruce up your advertorial and add instant credibility, contact the publications that
published your article and request reprints. The reprints will include your entire article
plus the publications name and logo. Then you can say, "As seen in Real Estate Today."
Now place your advertorial as a display ad in Homes Magazine, newspapers, restaurant
placemats, local business magazines and local business newspapers. Also post it as a flyer at
libraries, grocery stores, malls, inserts in newspapers, etc. Even use it in direct mail to
apartment dwellers and For Sale By Owners. Ask the FSBO to copy it and pass it out to all
their open house visitors. They may sell their home faster. You may also want to fax blast it
to your local real estate and financial planner offices to help build your network.
3). Write a series of articles each with a very specific topic and repeat above. The beauty is
that mortgage guidelines are always changing. Thus creating new articles all by themselves.
If you run out of ideas, interview "experts" and write an article about what they say. In any
case, once you get your first article published, you need to keep a flow of articles to the
editor or reporter so your name is always on their mind. It's difficult enough to get published
the first time around. It's exponentially tough in subsequent attempts if you are not in their
face because you will appear inconsistent and unreliable. That could jeopardize a star
reporter's credibility and judgment. Then you are toast with that reporter.
50
How To Get TONS of Mortgage Leads
Free Content For Your Newsletter
Now that you have a series of articles, letвЂ™s take it up a notch and send out the infamous
newsletter. Except your newsletter will have a unique twist. In addition to your article and
the usual market wrap-up, invite builders, real estate agents, accountants, home
repair/improvement dealers and financial planners to submit their article for free (or
interview them and you write the article). This accomplishes three things:
вЂў
You donвЂ™t have to create articles
вЂў
They get free advertising (be sure to have their contact info at the end of the article)
вЂў
Builds your referral network.
Be sure to end your monthly newsletter to builders, real estate agents, home
repair/improvement dealers, financial planners, homeowners and renters. (Hint: on the
bottom of each page, print вЂњGot an article in you? Call Joyce at 555-1212.вЂќ This keeps the
free articles coming so you don'вЂ™ have to make this a full time job!)
You can retrieve the mailing list from Best Mailing Lists at 1-800-692-2378.
PS. Obviously, with each newsletter you would include your ad and a quick approval form.
And never forget to mail one to to each person you interviewed.
51
How To Get TONS of Mortgage Leads
The Next Generation Business Card
This new business card makes you money even if you donвЂ™t close a loan. They have been in
use for nearly two decades in Europe, and almost one decade in the US. But, amazingly, most
companies arenвЂ™t jumping on the bandwagon. They think itвЂ™s something only convenience
stores offer. What IвЂ™m talking about is customized prepaid telephone cards.
You can order prepaid calling cards with virtually and вЂ�skinвЂ™ you want, including your
business card. Just send the company your business card and they can print hundreds or
thousands of prepaid calling cards with your business card on the front of the card. (Be sure
to include your fax-on-demand number, autoresponder and we site addresses.)
You can order the cards without any prepaid minutes. The caller would activate the card and
you get commission. Plus you also receive residual commission every time they recharge the
card for more minutes. With low per minute rates, you could get commission for life.
Once you receive your cards, pass them out to everyone! When you fill up your gas tank,
give the cashier a free card. When you go to the doctorвЂ™s office, give one to the receptionist
and the doctor. When you go golfing, give one to everyone in the clubhouse. Go Wild! Give
one to everyone. Remember, they are not collectibles. Pass them out because people will
keep the prepaid phone cards in their wallets or purses вЂ“ and they have your business card on
it!
Get more details from:
Custom Phone Cards
Digital VoiceXchange
Vertical Wave
52
How To Get TONS of Mortgage Leads
How To Get A Free Office With Leads Included
Have you ever shopped for office space? ItвЂ™s usually quite expensive. Then there is also the
security deposit, credit check. Negotiations and more. HereвЂ™s a way to avoid those
shenanigans:
Request a meeting with the owner/manager of a medium-sized Real Estate Office, Insurance
Agency, Financial Planner or CPA and offer to sit in their office Monday through Friday 28pm and pre-qualify mortgage prospects for free.
Now the owner/manager can promote an in-house mortgage expert and you get a free office
with built-in leads. Simple, eh?
53
How To Get TONS of Mortgage Leads
The Breakfast Club
You can find these type of clubs in every metro area throughout America вЂ“ if not, start one.
ItвЂ™s very simply a networking club, not a detention club like the movie. The business
members from a local area meet once per week for breakfast and you build relationships with
other like-minded business people. Of course, the primary purpose of the club is to generate
leads for your business. You may have to join a couple different clubs until you find one
where you feel like you вЂњfit in.вЂќ But itвЂ™s worth it. So look in your local business paper under
Events & Meetings or call your Chamber of Commerce.
54
How To Get TONS of Mortgage Leads
How To Get 90% Off Display Rates
Have you ever dreamed of your own 4вЂќ x 4вЂќ display ad that can rake in thousands of dollars
in commissions? Sure you have. But can you afford it? If you are in a large metropolitan
area, it can cost thousands of dollars, unless you buy remnant space.
Remnant ad space is simply unsold ad space. For some reason or another, the ad sales reps
just could not sell all the ad space. This is great for you because the newspaper does not want
to go print with a blank box on the page. So what do they do? They scramble! They offer
steep discounts up to90% to their current advertisers in the вЂњRemnant SpaceвЂќ address file.
ThatвЂ™s where you come in.
Visit your local library and get a list of the names and telephone numbers of every
publication in your area. Call each publication and ask for the display advertising sales
manager. Tell him or her that you would like to be put in his or her tickler file for remnant
space. The first thing he or she will say is, вЂњWe donвЂ™t have remnant space.вЂќ Why do they lie?
Perception! What would happen if the word hit the streets that The Observer canвЂ™t sell all the
ad space? Their credibility could be tarnished. What does this have to do with competent
journalism? Nothing, but this is a capitalistic society that relates virtually everything to the
almighty dollar. So when you undoubtedly hear the usual comment, just say something like
вЂњI know a fine publication like yours is in great demand for ad space. But should the occasion
arise, would you consider placing my ad? I can send your several sized camera-ready display
ads. What address should I send them to?вЂќ
Be sure to send a captivating, yet generic ad because you never know when or where your ad
may appear. It might be in March in the Entertainment section. If you ad said, вЂњPull out cash
from your home to buy Christmas gifts,вЂќ you might be the talk of the town but probably not
the image youвЂ™re seeking.
After you have done this with each publication, send the sale manager a cheerful card every
couple months to say hello and to remember you for remnant space. You may also want to
pay full price for small display ads like 2вЂќ x 2вЂќ and be sure the sales manager knows about it.
That way, he or she wonвЂ™t think of you as some yutz looking for a free ride!
Ps. You could also outsource all of this with one phone call to Media Networks. They
specialize in selling remnant space. Call them at 1-800-225-3457.
55
How To Get TONS of Mortgage Leads
Lenders Section
Down Payment Grants
Down payment grants have always thought to be in tandem only with FHA loans. (FHA
allows minor credit problems and offers higher qualifying ratios.) However, in most cases, an
eligible loan program is any single-family mortgage loan that allows charitable organizations
to provide Gift Funds to a buyer for use towards their down payment and/or closing costs.
Furthermore, the following grant organizations do not require FHA: Genesis Program, The
Buyer's Fund, National Home Foundation, Newsong Fund and the GMAC program.
Subprime lenders that allow down payment grants to purchase homes are: AmeriQuest,
EquiFirst, Long Beach, Finance America, NovaStar, National City and Banc Express
(contact info at bottom).
Provider*
Asset
Restriction
Buyer
Education
Buyer
Reserves
Max
Income
ACI
none
no
no
none
CDS
none
yes
1%
price
sales none
GP
none
none
none
none
HART
$15,000
liquid
yes
1%
price
sales none
NCC
none
none
1%
price
sales none
PIC
none
yes
no
none
TBYI
none
no
no
none
RAO
none
no
no
none
NHF
none
no
no
none
NS
none
no
no
none
*See the letter abbreviations preceding the provider's name below.
NOTE: if the provider is not listed above, the specific information
56
is unknown.
How To Get TONS of Mortgage Leads
SOURCES
(ACI) The Ameridream Charity, Inc.
1 East Diamond Ave., Suite C
Gaithersburg, MD 20877
301-977-9133
Maximum gift funds: 5% of sales price
Has to be 1st time homebuyer? No
Eligible properties:
Any property may become an eligible home ifвЂ¦
a). the home meets the standards and criteria of the mortgage the home buyer will use to
purchase the home and
b). the seller agrees to make a 2%, 3% or 5% contribution to the AmeriDream Charity, Inc.
and pay a processing fee of 3/4% of the sales price.
c) the sales price does not exceed the appraised value of the home
(CDS) Consumer Debt Solutions, Inc.
158 Vineyard Avenue
Highland, NY 12528
(845) 691-9697
Maximum gift funds: $10,000
Has to be 1st time homebuyer? No
Eligible properties:
Any property may become an eligible home if...
a). the home meets the standards and criteria of the mortgage the home buyer will use to
purchase the home and
b). the seller agrees to make a contribution to the CDS Home Grant program
and pay a
processing fee of $650 for all qualifying homes.
c). the sales price does not exceed the
appraised value of the home.
(GP) Genesis Program
8834 N. Capital of Texas Hwy., Suite 110
Austin, TX 78759
512-231-0270
57
How To Get TONS of Mortgage Leads
Gift Funds may be used for any or all of the following:
-Down Payment
-Closing Costs
-Prepaids
-Payoff Debts to Qualify
Other unique highlights:
-Not Restricted to FHA loans. Conforming and Non-Conforming OK!
-No Geographic Restrictions
-No Registration by Mortgage Company, Realtor, or Closing Office required
-Expedited Funding
-Genesis can fund within 24 hours of receipt of paperwork
-Reduced Requirements: No Roof Certification, Homeowner's Warranties
Maximum gift funds: $22,500
Has to be 1st time homebuyer? No
Eligible properties:
Existing or New Construction on вЂ¦
-
Single Family (1-4 Units)
-
Condominiums
-
Townhouses
-
Manufactured/Modular Homes
(HART) Housing Action Resource Trust
Rancho Cucamonga, CA
909-945-1574
Maximum gift funds: $15,000
Has to be 1st time homebuyer? No
Eligible properties:
Any property may become an eligible home if....
a). the home meets the standards and criteria of the mortgage the home buyer
purchase the home and
will use to
b). the seller agrees to make a contribution to the HART program and pay
a processing
fee of $650 for homes sold for $100,000 or less or $950 for
homes sold greater than
$100,000.
c). the sales price does not exceed the appraised value of the home.
58
How To Get TONS of Mortgage Leads
(NCC) Nehemiah Corporation of California
1851 Heritage Lane, Suite 201
Sacramento, CA 95815
(916) 231-1999
Maximum gift funds: 3% of the sales price
Has to be 1st time homebuyer? No
Eligible properties:
Any property may become an eligible home if ....
a). the home meets the standards and criteria of the mortgage the home buyer
purchase the home and
will use to
b). the seller agrees to make a 3% contribution to the Nehemiah Corporation
and pay a
processing fee of 1% of the sales price or $800 for a new home
or $950 for an existing
home, whichever is less
c). the sales price does not exceed the appraised value of the home
(PIC) Partners In Charity
10 E. Main Street, Suite 114
East Dundee, IL 60118
1-800-705-8350
Maximum gift funds: 5% of the sales price
Has to be 1st time homebuyer? No
Eligible properties:
Any property may become an eligible home if ....
a). the home meets the standards and criteria of the mortgage the home buyer
purchase the home and
b). the seller agrees to make a contribution to the PIC program and pay a
equal to 3/4% of the sales price of the home
will use to
processing fee
c). the sales price does not exceed the appraised value of the home
(TBYI) The Buyers Fund, Inc
313 East University Parkway
Orem, UT 84058
(888) 627-3023
59
How To Get TONS of Mortgage Leads
Other unique highlights:
- Any FHA, Conventional, or Sub-Prime loan that allows a gift from a nonprofit
organization can use The Buyers Fund program
Maximum gift funds: appraised value of home
Has to be 1st time homebuyer? No
Eligible properties:
can be used to purchase any residential property
(RES) Real Estate Strategy LLC
Maximum gift funds: appraised value of home
Has to be 1st time homebuyer? No
Eligible properties:
Existing or New Construction on вЂ¦
-
Single Family (1-4 Units)
-
Condominiums
-
Townhouses
(HB) Harford Foodbank
1.877.550.7005
Maximum gift funds: 10% of sales contract can be used for down payment, closing
and prepaids
Has to be 1st time homebuyer? No
Eligible properties: Unkown
(RAO) RealtyAmerica.Org
2040 Hwy A1A, Suite 206
Indian Harbour Beach
FL 32937
888.708.6005
Other unique highlights:
-
Home protection plans are not required
-
Roof certifications are not required
60
costs
How To Get TONS of Mortgage Leads
Maximum gift funds: 5% of sales contract can be used for down payment and
costs
closing
Has to be 1st time homebuyer? No
Eligible properties: Owner-occupied, single family
(NHF) National Home Foundation, Inc.
15200 Shady Grove Rd. Suite 202
Rockville, MD 20850
301-840-3844
Other unique highlights:
- Grant can be used with any FHA, Conventional, or Sub-Prime loan that allows
payment gift from a charitable organization
a down
Maximum gift funds: $25,000
Has to be 1st time homebuyer? No
Eligible properties:
Existing or New Construction on вЂ¦
-
Single Family (1-4 Units)
-
Condominiums
-
Townhouses
(NF) Newsong Fund
Other unique highlights:
Grant can be used with any FHA, Conventional, or Sub-Prime loan that allows
payment gift from a charitable organization
a down
Maximum gift funds: $25,000
Has to be 1st time homebuyer? No
Eligible properties:
-
Single Family (1-4 Units)
-
Condominiums
-
Townhouses
61
How To Get TONS of Mortgage Leads
Foundation For Housing Assistance
1387 Marlowe Avenue - Suite 12
Cleveland, OH 44107
(216)-521-4663
Other unique highlights:
Grant may be used for down payment and closing costs
Maximum gift funds: 5% of selling price
Has to be 1st time homebuyer? No
Eligible properties:
-
Owner-occupied, single family
GMAC Mortgage
"HomeStretch Plan"
858-450-3373
It's a 30-year fixed mortgage, plus a second mortgage with NO INTEREST. The
second
mortgage can be up to 4% of the loan amount and can be used as the
down payment or
other costs. It can also be COMPLETELY FORGIVEN after 10
years of residence in the
property.
A New Horizon/Credit Counseling Service, Inc.
Hillsboro Executive Center North
500 Fairway Drive, Suite 208
Deerfield Beach, FL 33441
800-556-1548
NOTE: The above are national organizations. You also have the opportunity
with your
State Housing Agencies. Look in your local White Pages telephone
book. In the Blue
Section, you'll find government agencies. Look under your
State Agencies and find
Housing Agency. Then ask for descriptions of their
down payment assistance and other
housing assistance programs.
62
How To Get TONS of Mortgage Leads
Note Buyers
This is a very short list. However, these few companies will do almost any "cash flow" deal
in the USA.
First National Acceptance Company of North America
241 E. Saginaw Highway, Ste 200
East Lansing, MI 48823
Tel: 1-517-333-7229
Tel: 888-363-FUND
Fax: 1-517-351-9731
www.fnacna.com
National Capital Corporation
3605 N. 68th Street
Scottsdale, AZ 85251
Tel: 602-370-5670
Fax: 602-532-7533
www.NationalCapitalCorp.com
Sun Capital, Inc.
929 Clint Moore Road
Boca Raton, Florida 33487
Tel: 800-880-1709
Fax: 800-645-1942
www.suncapitalinc.com
Sunvest Corp.
255 W. Napa St., Ste H
Sonoma, CA 95476
Phone: (707) 939-9450
Fax: (707) 939-8476
www.sunvestinc.com
63
How To Get TONS of Mortgage Leads
Definitely worth checking out:
www.PaperSourceOnline.com
64
How To Get TONS of Mortgage Leads
Residential Wholesale Lenders
Amerus Group
No prepayment penalties
125% LTV 2nd fixed rate, simultaneous closings
BNC Mortgage
80/20 Program
Mortgage Only - consumer credit not considered
Second Homes, Non Owner Occupied
100% LTV Cash Out Refi - Income Verified - No assets disclosure and no M.I
Decision One
Up to 115% LTV
4% LTV Enhancement
6% Seller Concessions
Encore Credit
consumer credit not considered
credit score low as 500
to 55% D/R
90% Stated
First National Bank of Arizona
85% No Ratio with INTEREST ONLY for first 30 years // investment property
Irwin Home Equity
125%LTV 2nd's,
interest only on SFR, CONDO/PUD, 2-4 units, Manufactured and
SFT non-owner.
Linx Funding
100% stated income
100%LTV 580 credit score
65
How To Get TONS of Mortgage Leads
100% stated 2nd's 620 credit score
100% no ratio
100%LTV + 6% seller concessions
interest only option
unlimited cashout
unseasoned refi's
100% LTV 2nd homes
90% investor/non-owner
NIV for Salaried S.E. and Wage Earner
Up to 60% DTI
Low as 500 credit score to 95%LTV
Meritage Mortgage
One active tradeline is all you need.
12-month history required with no more than 2x30.
Cancelled rent checks qualify!
Use primary borrower's middle score.
Up to 100% CLTV Combo - Full Doc & Stated
Allows for 1 day discharged bankruptcies and foreclosures
No seasoning of funds required to close
First time homebuyers allowed
Up to 55% DTI
No Mortgage Insurance required
Stated wage earners and salary
Mortgage Investment Lending Associates
100% stated
no seasoning for BK7 or BK11
Mortgage Lenders Network USA, Inc.
95% LTV MORTGAGE ONLY!
No VOM/R, 620 or higher
6 mo bank stmts,
100% of biz deposits for s/e qualified for income
66
How To Get TONS of Mortgage Leads
100%LTV,
580 score
no source/seasoning of funds
100% STATED
no traditional appraisal (Electronic prop valuation accepted)
95% investor properties
100%LTV Townhomes & Condos (owner occ)
PRMI Funding
Gift of equity up to 20%
Lease option treated as a refinance with 12 mos. cancelled checks
95% LTV with 600 middle score
90% N/O/O with 600 score
BK discharged only 1 year for A grade
90 % Stated N/O/O 1-4 Units
No Reserves required
Consumer lates not a factor
Up to 107% LTV.
Can use 7% for closing cost or to pay off debt
103% available to 600 credit score
107% second home with 680 or higher score
No verification of funds for down
Up to 100% with a 580 score
Up to 90% with a 500 score
100% condo
Resource Home Equity
100% Stated Income or Full doc (one loan or combo),
salary or wage earner
Mortgage/Rental Not Considered
Sourcing or seasoning of funds not required
100% 1st/2nd Non-Owner
100% 1st/2nd Combo Down to 580 Score (includes condos and rural properties)
125% 2nd's
67
How To Get TONS of Mortgage Leads
100% stated VALUE 2nd
Saxon Mortgage
manufactured homes, min score 550
100% 2nd to $100,000, min 620 score
68
How To Get TONS of Mortgage Leads
Commercial Mortgages
American Commercial Mortgage
7000 W. Palmetto Park Rd
Suite 300
Boca Raton, FL 33433
Tel: 1-866-669-3473
Fax: 561-392-7716
AmericanCommercialMortgage.com
"Hard Money" Commercial
These lenders offer commercial mortgages for "hard money" and unique properties.
Hard
money loans can save a commercial mortgage foreclosure, revive a failing
project or
finance a great acquisition. If the transaction is properly structured
(cashflow,
management, etc) and you provide a professionally packaged loan
request, you can get a
loan even with credit problems. But the lender must
have a clear and quick exit.
Adams Financial Services, Inc.
425 N. Alfred Street
Los Angeles, CA 90048
800-834-7775
Lending In: Nationwide
A.S.K. Investments, Inc.
16162 Beach Blvd
Huntington Beach, CA 92647
800-834-6544
Lending In: CA Only
Bar-K, Inc.
201 Lafayette Circle
Lafayette, CA 94549
925-283-1771
Lending In: Western United States
69
How To Get TONS of Mortgage Leads
BayView Financial Trading Group
2665 S. Bayshore Drive
Miami, FL 33133
877-906-BFTG
Lending In: Nationwide
Bentley Capital, LLC
2111 E. Highland Ave
Phoenix, AZ 85016
602-381-0177
Lending In: AZ, CA, CO, NV, UT, WA
Brownstone Mortgage Capital
2700 N Main Street
Santa Ana, CA 92705
800-547-1285
Lending In: CA and HI
C & G Financial Services
888-303-9509
Lending In: Nationwide
Chesterfield Mortgage
1001 4th Ave
Seattle, WA 98154
877-352-7881
Lending In: Western & MidWest States
Eastern Savings Bank, FSB
11350 McCormick Rd
Hunt Valley, MD 21031
800-787-2265
Lending In: Nationwide
70
How To Get TONS of Mortgage Leads
Equity Funding
2101 Fourth Avenue
Seattle, WA 98121
206-625-9007
Lending In: CA, OR, WA
Fairway Commercial Mortgage
434 NW 19th Avenue
Portland, OR 97209
503-241-2340
Lending In: AZ, CA, CO, ID, NM, OR, TX, UT, WA
Farmers & Merchants Bank
302 Pine Avenue
Long Beach, CA 90802
877-788-4FMB
Lending In: Southern California
First Mount Vernon Industrial Loan Assoc.
6019 Tower Court
Alexandria, VA 22304
703-823-6800
Lending In: DC, DE, MD, NC, VA
Foss & Associates, Inc.
30 Lakeshore Plaza
Kirkland, WA 98033
800-563-3005
Lending In: MT, OR, WA
Geneva Real Estate Investments
1 Northwood Drive
Orinda, CA 94563
71
How To Get TONS of Mortgage Leads
925-254-3241
Lending In: California
Imperial Capital Bank
888 Prospect Street
La Jolla, CA 92037
888-551-4852
Lending In: AZ, CA, CO, NM, NV, OR, UT, WA
Interbay Funding
1301 Virginia Drive
Fort Washington, PA 19034
877-207-6099
Lending In: Nationwide
Jackson Federal Bank
145 S. State College Blvd.
Brea, CA 92821
877-945-2265
Lending In: AZ, CA, NV
Kennedy Funding
Two University Plaza
Hackensack, NJ 07601
201-342-8500
Lending In: Worldwide
Meecorp Capital Market
2115 Linwood Avenue
Fort Lee, NJ 07024
201-944-9330
Lending In: Nationwide
Meridian Mortgage Investors Fund
72
How To Get TONS of Mortgage Leads
4050 Bank of America Tower
701 5th Ave
Seattle, WA 98104
800-901-9301
Lending In: AK, AZ, ID, KS, MT, NM, NV, OR, TX, WA
MoneyPlace
681 Main Street
Niagara Falls, NY 14301
877-643-6015
Lending In: Nationwide except AK and HI
North American Mortgage Company
89 Newbury Street
Danvers, MA 01923
978-762-9269
Lending In: Nationwide
Old Standard Life Insurance Co.
601 W. 1st Ave
Spokane, WA 99201
800-541-0828
Lending In: Nationwide
Olympic Coast Investment Inc.
11222 Roosevelt Way NE
Seattle, WA 98125
800-523-1979
Lending In: AK, ID, MY, NV, OR, UT, WA, WY
Pacific Coast Investment Co.
801 Second Avenue
Seattle, WA 98104
800-562-6278
73
How To Get TONS of Mortgage Leads
Lending In: Nationwide except AR and MT
Preferred Funding Inc.
733 Seventh Avenue
Kirkland, WA 98033
800-789-1488
Lending In: OR and WA
Seattle Funding Group
1230 120th Avenue, NE
Bellevue, WA 98005
888-SFG-FUND
Lending In: AK, AZ, CO, NV, OR, UT, WA
Security Funding Corp
82 E State St
Eagle, ID 83616
208-939-0002
Lending In: AK, AZ, CA, CO, HI, ID, MT, NM, NV, OK, OR, SD, TX, UT, WA, WY
Silicon Financial Corporation
1100 E. Hamilton Avenue
Campbell, CA 95008
408-741-1674
Lending In: California
Sterling Partners Capital, LLC
53 Unquowa Place
Fairfield, CT 06430
203-256-9068
Lending In: Nationwide
SWH Funding Corp.
2 University Plaza
74
How To Get TONS of Mortgage Leads
Hackensack, NJ 07601
201-343-3222
Lending In: Nationwide
The Funding Solutions, Inc.
78 Harvard Avenue
Stamford, CT 06902
203-327-1200
Lending In: Nationwide
United General Mortgage Corp
5000 Tilghman Street
Allentown, PA 18103
888-919-8462
Lending In: Nationwide
Westar Financial
16000 Mill Creek Blvd
Mill Creek, WA 98012
800-765-0803
Lending In: ID, OR, WA
Western Peaks Financial Corp
1255 Post Street
San Francisco, CA 94109
415-447-1441
Lending In: California
75
How To Get TONS of Mortgage Leads
Reports Section
You may use these as you see fit.
5 Critical Questions When Selecting A 15 Year Loan
1. How Much Will I Save on My Interest Rate?
It is a fact that 15 year mortgages will provide you with a lower interest rate and overall
lower interest payment. However, there is a trade off, be prepared for a larger monthly
payment.
2. Should I Do A 30 Year Mortgage and Make Extra Payments?
A 15 year mortgage locks you into a set payment. With a 30 year mortgage you can make
extra payments which will decrease the number of years of mortgage payments, but you need
self discipline to actually make the payments. You really have to look yourself in the mirror
to answer this question.
3. What Is the Benefit of More Equity Sooner?
The benefit of home equity is that it provides a ready source to borrow against.
makes sense to borrow against yourself (via your home equity).
Often it
4. How Long Do I Want To Have A Mortgage?
Whether you are young or mature, you may want to eliminate this obligation
sooner. You
may, for example, want to time at the end of your mortgage to
enjoy your retirement.
Consider the benefits of earlier relief from this
commitment, but don't forget to consider
the income tax implications.
5. Should I Use My Home As A Primary Investment?
By obliging in a 15 year mortgage you are investing in real estate, perhaps
leaving less
for other investments. Ask yourself, "How diversified do I want
my portfolio to be"
before making this financial commitment.
76
How To Get TONS of Mortgage Leads
5 Reasons To Buy A Home
1. Income Tax Savings
Because of income tax deductions, the government is subsidizing your purchase
of a
home. All of the interest and property taxes you pay in a given year
can be deducted from
your gross income to reduce your taxable income.
For example, assume your initial loan balance is $150,000 with an interest
rate of eight
percent. During the first year you would pay $9969.27 in interest.
If your first payment is
January 1st, your taxable income would be almost
$10,000 less вЂ“ due to the IRS interest
rate deduction.
Property taxes are deductible, too. Whatever property taxes you pay in a
also be deducted from your gross income, lowering your tax
obligation.
given year may
2. Stable Monthly Housing Costs
When you rent a place to live, you can certainly expect your rent to increase
each year вЂ“
or even more often. If you get a fixed rate mortgage when
you buy a home, you have the
same monthly payment amount for thirty years.
Even if you get an adjustable rate
mortgage, your payment will stay within
a certain range for the entire life of the mortgage
вЂ“ and interest rates
arenвЂ™t as volatile now as they were in the late seventies and early
eighties.
Imagine how much rent might be ten, fifteen, or even thirty years from now?
makes more sense?
Which
3. Forced Savings
Some people are just lousy at saving money, and a house is an automatic savings
account.
You accumulate savings in two ways. Every month, a portion of your
payment goes
toward the principal. Admittedly, in the early years of the
mortgage, this is not much.
Over time, however, it accelerates.
Second, your home appreciates. Average appreciation on a home is approximately
five
percent, though it will vary from year to year, and in some years may
even depreciate..
Over time, history has shown that owning a home is one
of the very best financial
investments.
As a fairly general rule, homes appreciate about four or five percent a year.
Some years
will be more, some less. The figure will vary from neighborhood
to neighborhood, and
region to region.
77
How To Get TONS of Mortgage Leads
Five percent may not seem like that much at first. Stocks (at times) appreciate
much
more, and you could easily earn over the same return with a very safe
investment in
treasury bills or bonds.
But take a second lookвЂ¦
Presumably, if you bought a $200,000 house, you did not pay cash for the
home. You got
a mortgage, too. Suppose you put as much as twenty percent
down вЂ“ that would be an
investment of $40,000.
At an appreciation rate of 5% annually, a $200,000 home would increase in
value
$10,000 during the first year. That means you earned $10,000 with an
investment of
$40,000. Your annual "return on investment" would be a whopping
twenty-five percent.
Of course, you are making mortgage payments and paying property taxes, along
with a
couple of other costs. However, since the interest on your mortgage
and your property
taxes are both tax deductible, the government is essentially
subsidizing your home
purchase.
Your rate of return when buying a home is higher than most any other investment
could make.
you
4. Freedom & Individualism
When you rent, you are normally limited on what you can do to improve your
home. You
have to get permission to make certain types of improvements. Nor
does it make sense to
spend thousand of dollars painting, putting in carpet,
tile or window coverings when the
main person who benefits is the landlord
and not you.
Since your landlord wants to keep his expenses to a minimum, he or she will
not be spending much to improve the place, either.
probably
When you own a home, however, you can do pretty much whatever you want. You
get
the benefits of any improvements you make, plus you get to live in an
environment you
have created, not some faceless landlord.
5. More Space
Both indoors and outdoors, you will probably have more space if you own your
own
home. Even moving to a condominium from an apartment, you are likely
to find you
have much more room available вЂ“ your own laundry and storage
area, and bigger rooms.
Apartment complexes are more interested in creating
the maximum number of incomeproducing units than they are in creating space
for each of the tenants.
If you are moving to a home for the first time, you are going to be very
pleased with all
the new space you have available. You may have to even buy
more "stuff."
The Business Cycle and Buying a Home
78
How To Get TONS of Mortgage Leads
There are times when the economy is brisk and everyone feels confident about
his or her
prospects for the future. As a result, they spend money. People
eat out more, buy new
cars, andвЂ¦.
вЂ¦They buy houses.
Then, for one reason or another, the economy slows down. Companies lay off
employees
and consumers are more careful about where they spend money, perhaps
saving more
than usual. As a result, the economy decelerates even further.
If it slows enough, we have
a recession.
During such a time, fewer people are buying homes. Even so, some homeowners
find
themselves in a situation where they must sell. Families grow beyond
the capacity of the
home, employees get relocated, and some may even find
themselves unable to make their
mortgage payment - perhaps because of a layoff
in the family.
Supply and Demand
When the supply of available houses is greater than the supply of buyers,
appreciation
may slow and prices may even fall, as happened in the early
eighties and the early to midnineties.
If you are lucky enough to purchase a home during a slow period, you can
be reasonably
certain the economy will begin to show strength again. At times,
real estate values may
even surge drastically. In many regions of the country,
this is precisely what occurred in
the late eighties and nineties.
Market Timing is Difficult
One problem with attempting to time your purchase to the business cycle is
that no one
can accurately predict the future. Another challenge is that
interest rates are generally
higher during a depressed market and income
may not be keeping up because less
overtime is available and bonuses or
commissions are down. With higher interest rates
and lower earnings, fewer
people can qualify for a home purchase than in more
prosperous times.
Why You Should Not Wait
Plus, "timing the market" generally works best for first-time buyers. People
who already
have a home usually need to sell it in order to buy their next
one. If a "move-up" buyer
wants to buy a home during a depressed market,
that means they usually have to sell one
during the slow market, too. If
a seller wants to sell his home to take advantage of a "hot"
market when
prices are fairly high, they generally have to buy their next home during
that same hot market.
It tends to equal out
Finally, the business cycle can change over time. Since 1983, we have had
two fairly long
expansions with only a slight recession in between each.
You would not want to wait nine
years to buy a home, would you? You could
miss out on a substantial amount of
appreciation by waiting, and end up paying
much higher prices.
79
How To Get TONS of Mortgage Leads
6 Things You Must Know Before You Buy
Mortgage Regulations Have Changed . . .
Mortgage regulations have changed significantly over the last few years,
making your
options wider than ever. Subtle changes in the way you approach
mortgage shopping, and
even small differences in the way you structure your
mortgage, can cost or save you
literally thousands of dollars and years of
expense.
Get the Right Information
Whether you are about to buy your first home, or are planning to make a move
next home, it is critical that you inform yourself about the factors
involved.
to your
Industry research has revealed that there are 6 common mistakes that most
homebuyers
make in mortgage shopping that can have a significant impact on
the outcome of this
critical negotiation. If handled correctly, these issues
could result in a mortgage that will
cost you less over a shorter period
of time.
Before you commit your hard earned dollars to monthly mortgage payments,
consider
these 6 issues. Effective consideration of these important areas
can make your payments
work much harder for you.
1. You can, and should, get pre-approved for a mortgage before you go
home
looking for a
Pre-approval is easy, and can give you complete peace-of-mind when shopping
for your
home. Your local lending institution can provide you with written
pre-approval for you at
no cost and no obligation, and it can all be done
quite easily over-the-phone. More than
just a verbal approval from your lending
institution, a written pre-approval is as good as
money in the bank. It entails
a completed credit application, and a certificate which
guarantees you a
mortgage to the specified level when you find the home youвЂ™re looking
for.
2. Know what monthly dollar amount you feel comfortable committing to
When you discuss mortgage pre-approval with your lending institution, find
out what
level you qualify for, but also pre-assess for yourself what monthly
dollar amount you
feel comfortable committing to. Your situation may give
you a pre-approval amount that
is higher (or lower) than the amount of money
you would want to pay out each month. By
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How To Get TONS of Mortgage Leads
working back and forth with your
lending institution to determine what this monthly
amount is, and what value
of home this translates into at todayвЂ™s rates, you wonвЂ™t waste
time looking at homes that are not in your price range.
3. You should be thinking about your long term goals, and expected situation,
determine the type of mortgage that will best suit your needs
to
There are a number of questions you should be asking yourself before you
commit to a
certain type of mortgage. How long do you think you will own
this home? What direction
are interest rates going in, and how quickly? Is
your income expected to change (up or
down) in the near term, impacting how
much money you can afford to pay to your
mortgage? The answers to these and
other questions will help you determine the most
appropriate mortgage you
should be seeking
4. Make sure you understand what prepayment privileges and payment frequency
options are available to you
More frequent payments (for example weekly or biweekly) can literally shave
years off
your mortgage. Simply by structuring your payments so that they
come out more
frequently, will significantly lessen the amount of interest
that you will be charged over
the term.
For the same reason, authorized pre-payment of a certain percentage of your
mort-gage,
or an increase in the amount you pay monthly, will have a major
impact on the number of
years you will have to pay and could shorten your
payment term considerably.
These two payment options can cut years off your mortgage, and save you thousands
of
dollars in interest. However, not every mortgage has these prepayment
privileges built in,
so make sure you ask the proper questions.
5. Ask if your mortgage is both portable and/or assumable
A portable mortgage, where available, is one that you can carry with you
when you buy
your next home and avoid paying any discharge penalties. This
means that you will not
have to go through the entire mortgage process again
unless you are making a move up to
a much more expensive home.
An assumable mortgage is one that the buyer for your home can take over when
you
move to your next home. This can be a very powerful tool at the negotiating
table making
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How To Get TONS of Mortgage Leads
it much easier and more desirable for a buyer to buy your home,
discharge penalties.
and again saves you any
6.You should seriously consider dealing with a Mortgage Expert
Consider dealing only with a professional who specializes in mortgages. Enlisting
their
services can make a significant difference in the cost and effectiveness
of the mortgage
you obtain. For example they can make the process faster
thereby avoiding costly delays.
Typically there is no cost or obligation
to inquire.
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7 Biggest Mistakes When Refinancing
1. Make Sure of Your New Interest Rate
Make sure that you save enough to justify the process of refinancing. It
is best to decrease
your interest rate by at least .75% to 1%. For example,
this will save you about $100.00 a
month on a $150,000.00 mortgage.
2. Know Your Closing Costs Up Front
By law, closing costs must be disclosed within 3 days of the loan application,
however,
there are different approaches to calculating them. Closing costs
are initially estimated
until the details of your specific loan are clear.
It is wise to use a worst case scenario and
be pleasantly surprised.
3. Be Sure You Fully Understand Your Reason(s) For Refinancing
Some refinance simply to reduce their interest rate. You should be aware
that simply
reducing your interest rate is not always to your advantage,
so make sure that the gains
from your rate reduction more than cover the
related fees. There are, however, other
legitimate reasons to refinance that
may not be related to interest rates. Some are debt
consolidation, home
improvements, or a major purchase. Some of these choices may
offer other
financial or personal advantages, such as taking cash out to buy a car. In
this example, you may be able to deduct your interest payments on your tax
return.
Always consult an accountant or tax attorney before making these
types of decisions.
4. Beware of "APR" Advertising
"APR" stands for Annual Percentage Rate. Some mortgage brokers use "APR"
teaser
rates to get your attention, however, they may actually end up costing
you more. Such
rates are often derived by using a 30 year mortgage coupled
with an accelerated payment
plan. Most lenders allow you to select such a
plan, if you chose. Know your actual
interest rate that you will be paying
when comparing mortgages.
5. Should I Consider an Adjustable Rate?
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How To Get TONS of Mortgage Leads
Adjustable rate mortgages, or "ARMвЂ™s," can be very helpful in assisting
people into the
housing market. They can help minimize your monthly payment,
however, in the long
run they can cost you more money if additional refinancing
occurs.
6. Beware of the Quality of Service Provided
You want your refinance to be accomplished with as little hassle and in the
shortest
period of time. Ask your mortgage broker details of their service
plan and performance
guarantees.
7. Not All Mortgage Brokers are Created Equally
Be sure to ask your mortgage broker about all their available loan products,
rates. A subtle difference can save or cost you thousands.
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terms and
How To Get TONS of Mortgage Leads
9 Home Buyer Traps & How To Avoid Them
No matter which way you look at it buying a home is a major investment But
for many
homebuyers, it can be an even more expensive process than it needs
to be because many
fall prey to at least a few of the many common and costly
mistakes which trap them into
either:
paying too much for the home they want, or losing their dream home to another
or, (worse) buying the wrong home for their needs.
buyer
A systemized approach to the home buying process can help you steer clear
of these
common traps, allowing you to not only cut costs, but also secure
the home thatвЂ™s best for
you.
9 Buyer Traps
This important report discusses the 9 most common and costly of these homebuyer
how to identify them, and what you can do to avoid them:
traps,
1. Bidding Blind
What price should you offer when you bid on a home? Is the sellerвЂ™s
asking price too
high, or does it represent a great deal. If you fail to
research the market in order to
understand what comparable homes are selling
for, making your offer would be like
bidding blind. Without this knowledge
of market value, you could easily bid too much, or
fail to make a competitive
offer at all on an excellent value.
2. Buying the Wrong Home
What are you looking for in a home? A simple enough question, but the answer
can be
quite complex. More than one buyer has been swept up in the emotion
and excitement of
the buying process only to find themselves the owner of
a home that is either too big or
too small. Maybe theyвЂ™re stuck with
a longer than desired commute to work, or a dozen
more fix-ups than they
really want to deal with now that the excitement has died down.
Take the
time up front to clearly define your wants and needs. Put it in writing and
then use it as a yard stick with which to measure every home you look at.
3. Unclear Title
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How To Get TONS of Mortgage Leads
Make sure very early on in the negotiation that you will own your new home
free and
clear by having a title search completed. The last thing you want
to discover when youвЂ™re
in the back stretch of a transaction is that
there are encumbrances on the property such as
tax liens, undisclosed owners,
easements, leases or the like.
4. Inaccurate Survey
As part of your offer to purchase, make sure you request an updated property
survey
which clearly marks your boundaries. If the survey is not current,
you may find that there
are structural changes that are not shown (e.g. additions
to the house, a new swimming
pool, a neighborвЂ™s new fence which is extending
a boundary line, etc.). Be very clear on
these issues.
5. Undisclosed Fix-ups
DonвЂ™t expect every seller to own up to every physical detail that will
need to be attended
to. Both you and the seller are out to maximize your
investment. Ensure that you conduct
a thorough inspection of the home early
in the process. Consider hiring an independent
inspector to objectively
view the home inside and out, and make the final contract
contingent upon
this inspectorвЂ™s report. This inspector should be able to give you a
report of any item that needs to be fixed with associated, approximate cost.
6. Not Getting Mortgage Pre-approval
Pre-approval is fast, easy and free. When you have a pre-approved mortgage,
you can
shop for your home with a greater sense of freedom and security,
knowing that the money
will be there when you find the home of your dreams.
7. Contract Misses
If a seller fails to comply to the letter of the contract by neglecting to
attend to some
repair issues, or changing the spirit of the agreement in
some way, this could delay the
final closing and settlement. Agree ahead
of time on a dollar amount for an escrow fund
to cover items that the seller
fails to follow through on. Prepare a list of agreed issues,
walk through
them, and check them off one by one.
8. Hidden Costs
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How To Get TONS of Mortgage Leads
Make sure you identify and uncover all costs - large and small -far enough
ahead of time.
When a transaction closes, you will sometimes find fees for
this or that sneaking through
after the вЂњsubвЂќ-total - fees such
as loan disbursement charges, underwriting fees etc.
Understand these in
advance by having your lender project total charges for you in
writing.
9. Rushing the Closing
Take your time during this critical part of the process, and insist on seeing
all paperwork
the day before you sign. Make sure this documentation perfectly
reflects your
understanding of the transaction, and that nothing has been
added or subtracted. Is the
interest rate right? Is everything covered? If
you rush this process on the day of closing,
you may run into a last minute
snag that you canвЂ™t fix without com-promising the terms
of the deal,
the financing, or even the sale itself.
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How To Get TONS of Mortgage Leads
10 Questions To Ask Your Loan Officer
1. What's the loan's Interest Rate and Annual Percentage Rate?
Find out what the interest rate will be on the loan as well as the annual
percentage rate
(APR). The APR is a combination of the interest rate, points
and other charges divided by
the loanвЂ™s term to give an annualized rate.
It is the best way to properly compare loan
costs.
2. How Many Points Will Be Charged?
A point is one percent of the loan amount. Points charged are additional
to the interest
rate that is charged on the loan. A loan with a low interest
rate and high points may cost
you thousands more than one with a higher interest
rate but low points. This is important
because the number of points charged
varies from lender to lender.
3. What will be the Total Closing Cost Fees Charged?
Lenders charge fees for the services incurred to process and close your mortgage.
By law,
closing costs must be disclosed within 3 days of the loan application,
however, there are
different approaches to calculating them. Some brokers
will initially disclose closing cost
figures which are very appealing, only
to provide much higher costs as your closing date
approaches.
4. Is There a "Lock-In" Policy?
Is There an Additional Charge to Lock-In an Interest Rate and Discount Points?
Many
lenders offer a lock-in policy that guarantees you a certain interest
rate and points for a
specified number of days. The alternative to this is
accepting the prevailing rate and
points on your closing day. Since rates
can change daily, the one time lock-in fee may be
able to save you thousands.
5. How Long Does it Take to Process My Mortgage?
Processing is the means by which your loan is prepared for underwriting,
or approval.
The time it takes to process a loan varies by the type of loan
and even among lenders.
Loans can usually be funded within 7 to 10 working
days. If time is of the essence, a
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How To Get TONS of Mortgage Leads
lender with quick processing, underwriting
very valuable asset.
and funding capabilities can prove to be a
6. Are You a VA Automatic or FHA Direct endorsement Lender?
VA automatic and FHA direct endorsement means that a lender has met all the
government requirements for FHA/VA and the lenderвЂ™s underwriter has
completed
mandatory education requirements. An automatic or direct endorsement
lender can
approve or disapprove a loan just as if the loan had been sent
directly to the regional FHA
or VA office.
7. Can I Finance the Up Front Private Mortgage Insurance (PMI)
Premium into the Loan Amount? If your down payment is less than twenty percent
of the
sale price, to qualify, you will be charged PMI, an insurance premium
to protect the
lender in case you or someone else who assumes your loan defaults
on the loan. Some
lenders allow you to include the first years premium into
the amount of the loan.
Including this premium may be the difference when
getting a mortgage by reducing your
cash outlay.
8. Is There a Pre-Payment Penalty?
Normally you can prepay a loan without penalty if you notify the lender in
writing that
you are either selling or refinancing. There are however,
exceptions. Make sure to ask
about your mortgage, and have it configured
for your unique situation.
9. What is the LenderвЂ™s Track Record?
ItвЂ™s important to rate your lenders reputation for speedy processing,
knowledgeable loan
service and meeting contract deadlines. You want to hire
a mortgage broker who will
treat you the way you want to be treated and has
respect for your purchase. Your lender
will be dealing with your hard earned
money and home purchase, so you want to be
confident that you have made the
correct decisions.
10. What Do You Offer to the First Time Buyer? (If applicable)
Purchasing a home is among the most significant financial commitments most
people will
ever make. First time buyers often have special needs and concerns.
If this is you, make
sure your mortgage broker provides services especially
tailored for the first time buyer.
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How To Get TONS of Mortgage Leads
11 Deadly Mistakes When Applying For A Mortgage
1. Not Knowing How Much Money You Can Put Down
ItвЂ™s important to know how much you can afford to pay in down payment
and closing
costs when you apply for your mortgage. The more you put down
the better rates and
terms youвЂ™re likely to get. At the same time you
also need to stay within your means and
comfort level.
2. Working With A Mortgage Broker Who Has A Poor Performance Record
Industry insiders know that the most common reason that a sale fails to go
through is that
the mortgage fails to go through. Ask your mortgage broker
about her/his performance
guarantee.
3. Not Understanding The Process
Most of us donвЂ™t shop for a mortgage very often. As a result it isnвЂ™t
something we
become familiar with. Work with a mortgage broker who will take
the time to answer
your questions and uses terms you understand.
4. Working With A Lender Who has Only One Investor
Not all lenders have a range of options when it comes to investors. What
if that investor
doesnвЂ™t offer the type of mortgage you need? Or worse
yet, what if you need to change
loan products after youвЂ™ve started the
process? Working with a mortgage broker who has
many investors enables you
to address these issues without starting the process over
again.
5. Making Large Purchases Prior to Your Mortgage Application
Many people think that it is in their best interest to get large purchases
completed prior to
applying for their mortgage. As total debt is a key component
in determining the amount
of home you qualify for it is best to wait until
after your home purchase has closed to
make such purchases.
6. Over Shopping Your Loan
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How To Get TONS of Mortgage Leads
Each time you call a lender seeking the best possible rate and terms you
have your credit
report pulled. Every time your credit report is pulled you
risk decreasing your credit score
and thus possibly decreasing the likelihood
of getting the best rate and terms. Experts
recommend that you select a mortgage
broker with a number of investors and do your
shopping with her/him.
7. Hiding Things From Your Mortgage Broker
Most of us have experienced times of financial difficulty at some point.
While it can be
embarrassing to discuss issues like this, your mortgage broker
is there to help you get
loan approved despite such issues. Your mortgage
broker can only help you with those
things with which s/he is aware.
8. Making Late Payments
Late payments, especially those within the last year, can be very detrimental
to getting
the best rate, terms and even the difference of being approved
at all. While this might
seem like unnecessary advice, ALWAYS pay on time.
9. Over Using Credit Cards
Credit cards are a convenient way to make purchases, but if not paid off
or balances kept
low you might find it more difficult to get the best rates
and terms on your mortgage.
Keeping your total debt as low as possible helps
you get the mortgage that best meets
your specific needs.
10. Cosigning On Someone ElseвЂ™s Loan
While it can be a great service to a friend or loved one, signing to guarantee
someone
elseвЂ™s loan is often a big headache for the cosigner. Before
cosigning you decide if youвЂ™re
willing and/or able to assume the liability.
11. Not Getting All The Facts
It is important to learn the total cost of your mortgage loan, both at closing
and for the
life of the loan. While mortgages can look a lot alike there
can be subtle differences
which can save or cost you thousands of dollars.
Get all the facts and know what to
expect.
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How To Get TONS of Mortgage Leads
How Lenders Determine Your Income
When a loan officer pre-qualifies you, he works backwards to figure your maximum
mortgage amount. You can do the same thing. The first step is to determine
your monthly
income. It isn't quite as easy as it sounds. Lenders only count
income they can document
through paperwork.
If you are a salaried employee, and don't earn bonuses, it's easy. Get out
your paycheck.
If you get paid twice a month, multiply by two. If you are
paid every two weeks, then you
multiply by 26 (the number of pay periods
in a year) and divide by twelve. Unless you're
a teacher. Teachers don't
always work year round and they have special rules.
If you are an hourly employee who works a straight forty hours a week and
don't earn
overtime income, then it's easy, too. Look at your paycheck, multiply
your hourly rate by
40, multiply that total by 52, then divide by twelve.
If you earn overtime, bonuses, or commissions -- it isn't as easy. Lenders
don't give you
credit for what you are currently earning. They average your
income from those sources
over the last two years, then add that to your
regular salary or hourly monthly income. If
you want a shortcut that is usually
close, get out your W2 forms for the last two years.
Add them together and
divide by twenty-four. That is your monthly income.
If you are a teacher, a nurse, a seasonal employee, in construction, or earn
only part-time
income -- you can use that shortcut, too. Add the figures
from your last two years W2's,
then divide by 24. It generally gets you close.
If you are self-employed or receive 1099 income, then you need a two-year
track record.
Lenders go by what you declare to the IRS as income, since
that is documentable. Since
some self-employed people overstate their expenses,
this may understate your income.
Look at the Schedule C of your tax returns
for the last two years and the number at the
bottom that says "profit" is
your annual income. You can add any depreciation to that
figure. Add them
together and divide by twenty-four.
There are variations and exceptions (like those who own their own corporations)
above should cover most people.
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but the
How To Get TONS of Mortgage Leads
How To Buy A Home No Money Down
The Zero Cash Down payment Program offers you a way to buy a home with no
down
payment. That's right zero down payment. You may have owned a home before
and are
presently renting, or are a first time homebuyer and need a way to
break into the housing
market but held back because you thought you required
a substantial down payment. Or
you may be in the position where you do not
want to liquidate your financial assets to use
as a down payment on a home.
Regardless of your present situation, you want a way to
get into or to re-enter
the housing market without having to make a cash down payment.
The Zero Cash
Down payment Program may be just the answer you need. Here's what is
required
to qualify for the Zero Cash Down payment Program.
Program Qualifications
1. An excellent credit history
No recent history of bad debts consistent and timely payment of current
liabilities
2. Limited liabilities
You will be required to disclose all current liabilities you have in order
much more debt you can carry. (ie. present car loan, credit
cards, etc.)
to determine how
3. At least 3 years of employment stability
You will be required to show proof of employment for the past 3 years, ie.
a letter of
employment from your employer or financial statements for the
past 3 years if selfemployed.
4. The financial ability to carry larger monthly payments
Without a down payment you will be required to meet the obligation of larger
mortgage
payments. Your monthly payments could vary from a few to several
hundred dollars
more per month.
Under the Terms of the Program You Can Purchase Many Types of Properties
They include:
detached or semi-detached homes
free-hold town homes
condominium town homes
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How To Get TONS of Mortgage Leads
It is important to note that not all properties qualify for the Zero Cash
Down payment
Program. To ensure that you get an accurate picture of what
properties may or may not be
included in this pro-gram in your particular
area, it is advisable to review the terms of the
program with your Realtor
В®.
Benefits of the Zero Cash Down payment Program
1. No Down payment
If you are renting, why pay your landlord's mortgage? Why not reap the benefit
of
building your own equity? Are you renting because you are held back from
owning your
own home because you think you need a substantial down payment?
The general
perception of many would-be-homebuyers and even that of some
Realtors В® is that a
substantial down payment is required in order to
purchase a home. This is simply not
true. Because of this perception many
would-be-home-buyers feel they have to save for
years before they have enough
money for a down payment so that they can finally enter
the housing market.
In the meantime they are lining someone else's pockets, while
waiting a long
time before they can start building their own equity. Well, with the Zero
Cash Down payment Program you don't need a down payment to buy a home.
2. Buy a Home Now!
If needing a down payment is keeping you from owning your own home, this
new
program offers you an immediate way to get into the housing market. With
the Zero Cash
Down payment Program you don't have to wait to purchase a home.
3. Approved Bank Program
It is important to know that the Zero Cash Down payment Program is an approved
bank
program. Review this program with your lender or Realtor В® who has
specialized
knowledge in financing and can assist you with the Zero Cash
Down payment Program
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How To Get TONS of Mortgage Leads
How To Increase Credit Score In 48 Hours
Credit bureaus say itвЂ™s one of the most useful trends to hit the mortgage
market in years.
Yet most home loan applicants--and some mortgage brokers
and realty agents--still donвЂ™t
know about it.
ItвЂ™s called "rapid re-scoring." ItвЂ™s potentially a mortgage saver--even
anybody whose credit scores have been depressed by erroneous
credit files or by ill-advised use of their existing
credit lines.
a home saver--for
information on their
Say youвЂ™re applying for a loan on a new home you want to buy. To your
surprise, the
loan officer tells you that your credit score is too low to
qualify for the loan program you
need to swing the purchase.
High credit scores--700 and above--indicate that you are a solid credit risk
and deserve
the best interest rates and terms available. Scores less than
the low 600s indicate that you
have credit problems and might default on
a new loan. Some consumersвЂ™ credit scores
come in artificially low because
their credit files contain outdated and erroneous
information. To correct
such mistakes, loan applicants typically have to endure weeks or
months of
hassles contacting creditors, pleading with them to amend the information
they erroneously sent to the repositories. That process, in turn, usually
takes far longer
than a loan officer can afford to wait to move ahead with
your application. You have to
come back and file a new loan application,
pull new credit scores and hope for the best.
Sometimes the delay costs you
a shot at the favorable interest rates that prevailed at the
time of your
first application--and just may knock you out of contention for the home
and the loan package you wanted.
But now savvy loan applicants have a new option, working through their mortgage
broker
or loan officer: They can get their files corrected and re-scored
within 48 to 72 hours.
Though participating local credit reporting agencies
cannot advertise their re-scoring
services to the general public, they often
let their mortgage lending clients know about
them.
The re-scoring agencies negotiate special contracts with the three repositories,
allowing
them to obtain "universal data correction" forms from creditors--often
within a day or
two--and then sending them directly to repositories for immediate
correction of the
consumerвЂ™s file. The staff-intensive service costs
money. Some lenders are charged $30
per tradeline, per bureau, per borrower.
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How To Get TONS of Mortgage Leads
A lender or broker trying to save a marginal application from a borrower
with a few
credit errors on file might be charged $120 or $150 to get a rapid
re-score within 72
hours.
A more extensive re-scoring could cost two or three times that amount. But
it can be
worth it for the borrower and the lender. Many rapid re-scores
raise credit scores by 30,
50 or more points, depending upon the nature of
the errors in the file. That jump in score,
however, frequently pulls a borrower
out of the "sub-prime" category, and can save
thousands of dollars in interest
in fees over the term of the mortgage.
One of the countryвЂ™s top experts in the field, Ruth Koontz of
Baltimore-based Lenders
Credit Services, Inc., says re-scoring is most dramatic
when a loan applicantвЂ™s credit files
contain major factual errors
(identity-theft situations, bogus delinquencies on credit cards
or mortgage
payments), and when the files show balances that donвЂ™t belong to the
borrower. Re-scoring can also be a plus when consumers have made poor use
of their
credit choices, such as by maxing-out credit cards, home equity
lines and personal credit
lines. Re-scorers like Koontz know how and where
to redistribute that debt to raise credit
scores immediately.
DonвЂ™t confuse rapid re-scoring with "credit repair." Re-scoring is a
legitimate service
expressly sanctioned by the credit repositories through
special contracts with select credit
reporting agencies. "Credit repair",
by contrast, often involves illegal attempts to dupe the
repositories and
lenders alike.
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How To Get TONS of Mortgage Leads
How To Prepare For A Closing
Double-Check the Money
Prior to the actual closing day, there are several things you should do to
be certain that
your real estate transaction will close on time, and that
everything will go smoothly. A
day or two before closing, you should review
your final closing statement or HUD-1
Statement, whichever is used in your
area of the country. You should go over all the
calculations and be certain
that you are given credit for all your deposits and any other
credits due
to you from the seller or for other items agreed upon between buyer and
seller.
Go over all the lender and title and escrow fees, to be sure they are what
you
had been told and that you agree to them. Check the math calculations
on the closing
statement. Errors do occur.
Review the Documents
Carefully review the preliminary report or the guarantee of title insurance,
to verify the
exact legal description of the property and any liens, encumbrances
or other items which
may have been discovered on the property. Be sure that
all items are removed that you
did not agree to. Verify that the title or
escrow agent has your correct vesting, or the way
you want to take title
to the property. This is important because to correct a vesting on a
deed
later on is time consuming and can be avoided if care is taken when escrow
is
closed.
Re-Inspect the Property
Besides the paperwork which you must review and verify, you should re-inspect
the
property once again just prior to closing. Is everything the way you
expect it to be? Have
all the necessary repairs or other corrective work
been done that were promised to you?
This is important so that you don't
arrive at your new house and find unexpected
surprises.
Check and Double-Check
The most important thing to remember is that before closing you want to be
certain that
all the conditions of the purchase contract have been met. You
want to be sure that all
directions given to the closing agent have been
performed. Before signing your name to
any closing documents, check and double
check that everything is correct, interest rate,
fees charged and condition
of the property.
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How To Get TONS of Mortgage Leads
What's A Credit Score
A Brief Explanation of a Credit Score
When you apply for a mortgage loan, you expect your lender to pull a credit
report and
look at whether youвЂ™ve made your payments on time. What you
may not expect is that
they seem to be more interested in your "credit" score.
"WhatвЂ™s a credit score?" is a common reaction.
Each time your credit report is pulled, it is run through a computer program
with a builtin scorecard. Points are awarded or deducted based on certain
items such as how long you
have had credit cards, whether you make your payments
on time, if your credit balances
are near maximum, and assorted other variables.
When the credit report prints in your
lenderвЂ™s office, the total score
is displayed. Your score can be anywhere between the high
300вЂ™s and
the low 800вЂ™s.
Lenders wanted to determine if there was any relationship between these credit
scores
and whether borrowers made their payments on time, so they did a study.
The study
showed that borrowers with scores above 680 almost always made
their payments on
time. Borrowers with scores below 600 seemed fairly certain
to develop problems.
As a result, credit scoring became a more important factor in approving mortgage
loans.
Credit scores also made it easier to develop artificial intelligence
computer programs that
could make a "yes" decision for loans that should
obviously be approved. Nowadays, a
computer and not a person may have actually
approved your mortgage.
In short, lower credit scores require a more thorough review than higher
mortgage lenders will not even consider a score below 600.
Some of the things that affect your credit score are:
Delinquencies
Too many accounts opened within the last twelve months
Short credit history
Balances on revolving credit are near the maximum limits
Public records, such as tax liens, judgments, or bankruptcies
No recent credit card balances
Too many recent credit inquiries
98
scores. Often,
How To Get TONS of Mortgage Leads
Too few revolving accounts
Too many revolving accounts
99
How To Get TONS of Mortgage Leads
Resources Section
Advertising
Cable TV Advertising Networks
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Television advertising can be affordable if you know where to buy space. Most broadcast
television spots are too expensive. But Cable TV and the new "adcastвЂќ systems makes it a
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The old system required you to contact each Cable TV station individually to place ads. Or
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100
1,804,000
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Inc.
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1,070,000
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1,017,325
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Paul
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Cities
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101
How To Get TONS of Mortgage Leads
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336-668-3800
102
311,630
How To Get TONS of Mortgage Leads
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How To Get TONS of Mortgage Leads
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How To Get TONS of Mortgage Leads
Checklists
850 Words & Phrases That Sell
Integrate these words and phrases in your dynamic sales letters and sales вЂњtalk.вЂќ
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How To Get TONS of Mortgage Leads
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How To Get TONS of Mortgage Leads
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How To Get TONS of Mortgage Leads
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109
How To Get TONS of Mortgage Leads
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110
How To Get TONS of Mortgage Leads
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111
How To Get TONS of Mortgage Leads
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112
How To Get TONS of Mortgage Leads
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FOR A ONE TIME FEE OF...
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113
How To Get TONS of Mortgage Leads
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114
How To Get TONS of Mortgage Leads
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115
How To Get TONS of Mortgage Leads
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116
How To Get TONS of Mortgage Leads
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117
How To Get TONS of Mortgage Leads
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118
How To Get TONS of Mortgage Leads
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119
How To Get TONS of Mortgage Leads
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120
How To Get TONS of Mortgage Leads
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121
How To Get TONS of Mortgage Leads
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122
How To Get TONS of Mortgage Leads
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How To Get TONS of Mortgage Leads
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124
How To Get TONS of Mortgage Leads
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125
How To Get TONS of Mortgage Leads
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126
How To Get TONS of Mortgage Leads
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127
How To Get TONS of Mortgage Leads
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128
How To Get TONS of Mortgage Leads
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How To Get TONS of Mortgage Leads
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How To Get TONS of Mortgage Leads
YOU OWE IT TO YOURSELF
YOU QUALIFY
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YOU THE CUSTOMER COMES FIRST
YOUR CHOICE
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Anatomy Of A Press Release
вЂњHow To Get Free AdvertisingвЂќ
When you see ads like that, they are either referring to press releases or getting articles
published. These two methods are for more powerful than any ad could ever be. However,
they are also much more elusive.
Here is a sample release. I dissected it to highlight the important parts.
1 вЂ“ A standard introduction for a press release
FOR IMMEDIATE RELEASE
2 - Who to contact for more information. Iclude address and phone number.
Contact:
The Made in New York Store
373 Enfield Falls Road, Ithaca, NY 14850-8758
Michael Turback вЂ“ Succinct title that entices the reader.
607-277-0303
3 вЂ“ Attention Grabbing Headline
Made In New York Store Announces Selection As Ultra=Cool Shopping Site
4 вЂ“ Begin with the location and date, followed by an introduction covering all major points.
Ithaca, NY, January 5, 1998 вЂ“ The Made in New York Store. An online department store
based in Ithaca, New York, has been selected by coolshopping.com as an вЂњUltra-Cool
Shopping Site,вЂќ and one of the first 400 sites on the net to receive the coveted designation.
Made in New York is the only store whose every item is produced or manufactured
exclusively in New York. Its address on the internet is http://www.newyorkfirst.com.
5 - A quote by a company representative adds credibility to your release.
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вЂњIn the restaurant business it would be the equivalent of a 4-star Award by The New York
Times,вЂќ says Michaels Turback, Made in New York Store President, and himself a former
restaurateur.
6 вЂ“ Include information about why this event is newsworthy. What is the criteria for a
selected site? Innovative design, layout and vavigation. Interesting and useful consumer
products.
The Made in New York Store is in good company. The elite group of sites includes
Bloomingdales, Fortunoff and Martha By Mail, the shopping site of Martha Stewart Living.
7 вЂ“ conclude with further contact information
For more information about The Made in New York Store, visti the web site at
www.newyorkfirst.com of phone 1-800-581-7599
###
Above Press Release Without Comments:
FOR IMMEDIATE RELEASE
Contact:
The Made in New York Store
373 Enfield Falls Road, Ithaca, NY 14850-8758
Michael Turback, Customer Liaison
607-277-0303
MADE IN NEW YORK STORE ANNOUNCES SELECTION AS ULTRA-COOL
SHOPPING SITE
Ithaca, NY, January 5, 1998 вЂ“ The Made in New Yyork Store, an online department store
based in Ithaca, New York, has been selected by coolshopping.com as an вЂњUltra-Cool
Shopping Site,вЂќ and one of the first 400 sites on the net to receive the coveted designation.
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Made in New York is the only store whose every item is produced or manufactured
exclusively in New York. Its address on the internet is http://www.newyorkfirst.com.
вЂњIn the restaurant business it would be the equivalent of a 4-star Award by The New York
Times,вЂќ says Michael Turback, Made in New York Store President, and himself a former
restaurateur.
The Made in New York Store is in good company. The elite group of sites includes
Bloomingdales, Fortunoff and Martha By Mail, the shopping site of Martha Stewart Living.
For more information about The Made in New York Store visit the web site at
www.newyorkfirst.com or phone 1-800-581-7599.
###
Where to send a press release for free:
MediaPost
PRWeb
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Marketing Plan Outline
If you can honestly and accurately answer all the points below, you will master your entire
territory. Thus, you will know exactly what loan product to sell to whom.
Determine Your Market
1. Geographic Market
2. Customer
a. Income
b. Education
c. Sex
d. Age
e. Location
f. Specific consumer characteristics
i.
needs and how your loan products fills these needs
ii.
expectations (quality of service, speed of delivery, convenience, etc)
3. Total size of market
a. Number of customers in market
b. Number of loans closed annually in market
c. Prices of loans now being sold
d. Projected growth of market in three years
e. Projected changes in market and how it affects you
i.
Changes in technology
ii.
Inflation
iii.
Current or potential competition
iv.
Interest rates
v.
Wages
vi.
The economy
vii.
Government policies and regulation
viii.
Industry cycles
ix.
Seasonality
x.
Other
Marketing Plan
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How To Get TONS of Mortgage Leads
1. Goals of marketing plan
a. Targets you want to reach
b. Changes you want to make
2. Loan program target position in marketplace
a. Image
b. Benefits offered
c. Pricing
3. CompanyвЂ™s target position in marketplace
a. Technological leader
b. Marketing innovator
c. Low-cost originator
d. Loan product differentiator/innovator
e. High quality service
f. Exclusivity вЂ“ loan product, sweepstakes, etc
4. How customers view your loan products now
5. Customers to be targeted
6. Competitive strategy
a. Price
b. Quality
c. Service
d. Convenience вЂ“ location or go to them
e. Loan product differentiation
f. Technical knowledge
g. Image
h. Other
7. Marketing, Sales & Promotions
a. Newspapers
b. Magazines
c. Trade publications
d. Radio
e. Broadcast TV
f. Cable TV
g. Direct mail
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How To Get TONS of Mortgage Leads
h. Coupons, vacation certificates, etc
i. Trade shows
j. Other
8. Pricing
a. Methods used to determine optimum pricing
b. How this price вЂ¦
i. Will gain market share
iii.
Will maximize profits
iv.
Relates to desired image or target market
v.
Compares to competitorsвЂ™ price
vi.
Why customers will pay this price
9. Specific potential customers
a. Who are they
b. How are they selected
c. How are they contacted
d. Sample advertising pitches for each targeted customer
10. Advertising agencies or marketing consultants
a. Now signed
b. Planned to sign
11. Public relations
a. Public relations planned or implemented
b. Public relations agencies or consultant now being used or to be hired
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Sales Letter Outline
Much preparation and thought is required to produce a compelling sales letter. You could just
sit down and start writing .. and re-writing вЂ¦ and re-writing until something вЂњsounds right.вЂќ
But the best approach is to analyze and project.
Connect the benefits to your targeted audience. For example, in the вЂњHow Real Estate Agents
Increase Their CommissionsвЂќ letter, the benefits were:
Вѓ
Adding another profit center
Вѓ
Adding it for free
Вѓ
Doing no extra work
Вѓ
Requiring no additional training,
Вѓ
Testing the service virtually risk-free
Вѓ
Passing the buck relieving them of any responsibility.
Those are some powerful benefits. And for the busy (or laxy) real estate agent, it fits like a
glove вЂ“ if the loan officer can prove they are competent. But how did I extract these benefits?
Like this вЂ¦
Create a features-benefit chart to get the juices flowing. Brainstorm and write down every
feature, every nook and cranny of your offer. Absolutely everything you can think of. DonвЂ™t
leave out anything вЂ“ no matter how crzay or irrelevant it seems. Then determine the
associated benefit. For example, using the same letter above вЂ¦ (short version)
Features вЂ“ Benefit Chart
Feature
Benefit
AgentвЂ™s client completes preapproval form
Agent has no extra work
Loan officer works вЂњdead dealвЂќ
first
Virtually risk-free to agent
This is obviously the short list. But I wanted to point out my thought process when
constructing the letter. The benefit is typically just the result of the feature from a different
perspective. When you chart is complete, study it. Then walk away and take a break.
Sometimes my charts sit for days until IвЂ™m inspired. Then IвЂ™ll crank out 3-10 letters one after
another. But I always start with the headline.
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Your headline is the most important part of your entire letter. Let me repeat that statement.
Your headline is the most important part of your entire letter. Should I mention it one more
time? Your headline is the most important part of your entire letter. If you headline doesnвЂ™t
draw in the reader, you wasted your time writing the darn thing. Write you headline to stake
a claim. For example, вЂњHow Real Estate Agents Increase Their Commissions.вЂќ If youвЂ™re a
real estate agent interested in making more money, youвЂ™re going to read the letter because
IвЂ™m claiming to educate you (the reader) and fatten their wallet.
Use words that sell when writing your headline. You want to draw attention immediately but
keep it somewhat believable. And it must correlate to your benefits. Brainstorm with the
headline too. I usually write a half dozen or so headlines before I choose one. After writing a
few headlines, put them out of your mind and concentrate on вЂ¦
Pre-Draft Questions
1. WhatвЂ™s the most valuable benefit I can offer this reader?
2. How can I make this reader feel the value of this benefit?
3. Exactly what do I want this reader to do and what immediate action should I press for?
4. What major objectives to the proposed action will this reader probably have, and how can
I deal with them?
Now comes the tricky part вЂ“ writing a dynamic letter that persuades the reader to take action
immediately. HereвЂ™s the outline to assist you вЂ¦
I.
Opening
A. Secure interest
i. arouse interest
ii. present benefit(s0
iii. establish credibility (avoid detailing desired action too much in the beginning).
II.
Body
A. Justify benefit and explain proposal (body must cover a lot of vivid details)
j. explain benefit in glowing, but realistic, terms
k. fully clarify the connection between proposed action and benefit, so even resisting
readers will believe
l. deal with any anticipated objections
m. explain with perfect clarity what action you want
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How To Get TONS of Mortgage Leads
The body should progress from focusing mainly on the benefit at fist to focusing mainly on
the desired action near the end. Shifting from benefit to proposed to action.
Phrasing should shift from conditional at the beginning (вЂњIf you do itвЂќ) to definite in the
middle (вЂњWhen you do itвЂќ) as readers become persuaded. Then to instrumental near the end
(вЂњhereвЂ™s how to do itвЂќ). The sift should not be obvious.
If you must deal with expected objections, do so about ВЅ to 2/3 way through the body.
III.
Closing
Getting action: confidently press for action and remind the reader of the benefit they
can expect вЂ¦ вЂњact nowвЂќ вЂ¦ вЂњdo it todayвЂќ вЂ¦ etc.
Post-Draft Questions
1. Does the opening get attention and vividly portray the benefit?
2. Does the body emphasize the benefit near the beginning and the proposed action near the
end?
3. Does the body clearly explain exactly what I want the reader to do?
4. Does the close firmly press for action and relate it to the benefit?
5. How could I make the images more vivid?
16 Ways To Jump Start Your Sales Letters
1. Open with a reference to time.
2. Use a YOU point of view.
3. Ask a question that will capture their attention.
4. Make a definite statement
5. Make a courteous request
6. Open with a big name
7. Get sentimental, but not hokey
8. Challenge your reader with a startling statement вЂ“ when you can lead directly into your
story.
9. Tell a story with a point
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How To Get TONS of Mortgage Leads
10. Start on a positive note
11. Make an offer
12. Give a gift
13. Report the news
14. Tell вЂњhowвЂќ
15. Use numbers
16. Warn of benefits that may be missed
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Dead Deals
If you still canвЂ™t вЂњfind a homeвЂќ for your loan. In 1999, I created an email list specifically
for that purpose. Just type your loan information and scenario, then email to the list. At
last count there were over 1,702 loan officers and sales managers across America willing
to help you.
I have since released the list and it is now owned and operated by Mortgage Press here.
You can also visit the Grapevine, created by Thomson Financial.
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Leads & Lists
WhatвЂ™s the difference between leads and lists? Leads are completed mini-applications.
Lists are people that match certain demographics (direct mail or cold call).
LEADS
ELeadz.com
2222 Michelson Drive #191
Irvine, CA 92612
877-302-7730
The Mortgage Leads Network, Inc
3600 S. Harbor Blvd, #120
Channel Islands, CA 93035
888-250-4130
mLeads
888-43-LEADS
LISTS
Download mortgage lists from 1,000+ counties in 47 states across the USA. Low as 5
cents each. Choose from up to 100 peremeters вЂ¦ MortgageLists.com
People Who Have Completed Moving Surveys and related
1. People who have completed surveys that they are planning to move.
A Moving Experience, list managed by:
The Listworks Corp
914-769-7100
2. People who asked about moving services and are going to relocate.
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How To Get TONS of Mortgage Leads
From PreMover.com.. List managed by:
LH Management Division
Leon Henry Inc
914-723-3176
3. People who are going to build a custom built home.
Market Touch, Inc
800-215-0501
4. People planning to apply for a home loan.
Acme List Management
847-587-1160
5. Users of a relocation web site (AAAMove.com) to find a mover; get moving
estimates; bid on a move and pay for the move with a credit card.
List managed by:
Market Touch, Inc
800-215-0501
Last minute addition for movers/homebuyers:
http://www.homebuyernetwork.net
http://www.house-hunting.com/leads_by_email.htm
http://www.servicemagic.com/realestate/realestate_signup.jsp
http://www.nationalrelocationagents.com/about.htm
http://www.proforcerealestate.com/advertisingwebleads.html
http://www.cdirealestate.com
http://www.homegain.com/agent/signup
http://www.relocationexperts.com/network.htm
http://www.americanhomeguides.com/membership/prod_builders.html
People Who Have Attended Home Buying Seminars
1. People who attended a seminar on how to purchase homes.
ListSmart Inc
816-505-2111
2. Creative Real Estate Seminar Attendees
Have attended educational workshops focusing on making money in real estate. (investor
loans!)
World Data
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How To Get TONS of Mortgage Leads
561-393-8200
People Who Currently Rent
1. @Home.com users that rent
List managed by:
Kathy Elter
Walter Karl, Inc.
845-732-7055
2. Apartment Dwellers Database (General)
Walter Karl, Inc.
845-620-0700
3. Blue Ribbon Renters
Apartment dwellers who take advantage of credit offers and soft trial offers by mail.
Media Horizons, Inc.
203-857-0770
4. Renters With Credit Qualifiers (credit score estimates)
FMP Direct, Inc
800-995-3343
5. Accepted Renters Masterfile
Market Street Lists, Inc.
608-772-6666
People Who Bought Home Plans & Blueprints
1. Venture Direct, Inc
212-684-4800
2. Homestyles Publishing, list managed by:
Names & Addresses, Inc.
847-465-1500
Surprise Bonus
1. AOL Homeowners
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How To Get TONS of Mortgage Leads
AOL members who live in single family residence.
List Services Corporation
203-743-2600
2. Ameritech Residential Disconnects
People who have disconnected their residential phones in the past 30, 60 or 90 days.
Possible movers. Only available in IL, IN, MI, OH and WI.
Walter Karl, Inc.
845-620-0700
3. Homeowners in default or foreclosure
TransAmerican Marketing
714-744-1777
4. Potential Home Equity Borrowers
Bank model, subprime lenders, finance companies and 125%CLTV
Acxiom
More List Companies
FMP List Services Inc
847-816-1919
upwardly mobile movers, 1st-time homebuyers, age credit card presence, households with
children, growing families on the move, dwelling type, median age, income, education ,
home value
ACT ONE Mailing List Services, Inc
800-228-5478
by mortgage amount, home value, length of residence, mortgage date, mortgage type, land
use, type of rate, occupation. Renters or homeowners
Focus USA
201-489-2525
Venture Direct Worldwide
212-684-4800
foreclosures
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How To Get TONS of Mortgage Leads
The Rich List Co.
516-537-0915
homeowners and renters with unlisted phone numbers
ListSmart Inc.
816-505-2111
consumers who attended a seminar how to purchase homes and rental properties
American List Counsel Inc.
800-403-8646
high-income residents at home
Walter Karl Business
914-620-0700
apartment dwellers
Lifestyle Change Communications
770-984-1100
stable and creditworthy homeowners, length of residence, home value, veterans, purchase
price, income, dwelling type, 2nd mortgage holders
Carney Direct Marketing
949-581-5100
homeowners, origination date, home value
Database Marketing Concepts
516-218-0389
high-tech homeowners who subscribe to Information Week, Internet Week, Windows
Magazine, Electronic BuyerвЂ™s News, etc
Adrea Rubin Management, Inc
212-983-0100
seniors
Dunhill International List Co, Inc
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How To Get TONS of Mortgage Leads
561-347-0200
wealthy homeowners by occupation
NCRI List Management
201-541-9500
homeowners with equity
Experian (f/k/a TRW)
800-541-0524
Dependable List Management
847-995-1234
homeowners who have lived in their homes at least 125 years
Midwest Direct Marketing
913-686-2220
monthly updates of rate type, dwelling type, construction loan, equity loan, 1st time sale,
foreclosure, interest rate, lender info, seller carryback, private party lender and tons more
TranAmerican Marketing
714-744-1777
homeowners in default or foreclosure
Performance Data
800-626-2341
finance company users, occupations, home owners
Profile America List Company
201-569-7272
5.7 million home equity loan prospects
Market Touch
770-754-9066
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How To Get TONS of Mortgage Leads
pre-mover hotline, absentee owners, owners with credit cards, senior owners, timeshare
owners, veteran owners, widowed owners
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Free Tools Section
Discover easy-to-use software to create your вЂњelectronic brochure,вЂќ to get your icon on
peopleвЂ™s computer desktop, to create your own automated lead-generating website plus
submit your site to the top 40 search engines.
Вѕ Password for only Publisher Name downloads: idontknow58
1. Download AOLpress to create your web site. ItвЂ™s a simple program that utilizes вЂњWhatYou-See-Is-What-You-GetвЂќ technology for creating web sites. IвЂ™ve been using it since
1994.
If you are having trouble designing a website, use 1 of the 6000 website templates. After
you have unzipped the templates, in AOLpress, click File then Open and choose a
template. (Download Template Set 1, Set 2, Set 3, Set 4.) If you donвЂ™t have an unzipping
software, download Winzip or UltimateZip.
If you donвЂ™t like AOLpress, visit eBooksnBytes.com for their extensive editorials on several
ebook creators.
2. Once you have your offline website created, create you вЂњeletronic brochure,вЂќ or ebook,
with Sbuilder. Make sure all your files are in the same directory. Then click a few buttons
to create it. Download Sbuilder here.
3. To get your icon on peopleвЂ™s desktops, download Install Creator at ClickTeam.com. Use
their вЂњwizardвЂќ to create an installation file. Be sure to check the boxes to add your icon to
their desktop and start menu. This software is kind of like Winzip whereby it вЂњwrapsвЂќ
itself around your file distribution purposes.
When you ebook (website-on-disk) is installed, it will automatically create an icon on the
desktop and start menu. Now you get free advertising on their computer.
4. Distribution of your ebook can be by floppy disk or your website. If by disk, use MS
Word Wizard under labels. Select computer disk. Create vibrant color labels. Print and
affix the labels to blank floppy disks. Copy your ebook on numerous floppy disks.
Distribute them a Home BuilderвЂ™s Shows, Real Estate Offices, CPA offices, Financial
Planners Offices, direct mail and even add them in your officeвЂ™s reception area! You may
also consider writing and distributing a quick press release to your local media. Announce
that your innovative website-on-disk is available free by calling 555-1212 or visiting
yoursite.com. If youвЂ™re distributing it by website, just upload and create a link to download.
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5. To create your automated lead-generating website, you need to add one thing to your
index.html page. Then upload it to your website. The вЂњWeb Caller IDвЂќ вЂ“ known as Magic
Subscriber вЂ“ generates the code needed to add to your indes.html page. When someone
visits your site, they will see a small box offering a free report. When they click вЂњOK,вЂќ it
brings up their email software and inserts their name and email address. The person
simply clicks Send to receive the report.
Your would want to automate this further by placing a series of reports on an autoresponder.
Be sure to include your advertisement inserted before, in the middle and at the end of the
report. Use the free autoresponder at freeautobot.com or sendfree.com. Download the вЂњWeb
Caller IDвЂќ software entitled Magic Subscriber here.
Now you have a lead-generating website. It automatically captures your visitors name and
email addresses using the Magic Subscribe code. It automatically sends a series of free and
informative reports with your advertisements using a free autoresponder. The recipients are
now seeing your name and contact information associated with the educational reports. This
helps build credibility and the perception as an expert in your field. Thus, they are more
likely to contact you for a loan. Furthermore, you have their name and email address to
follow up at anytime. Just place classified ads for the free report and your site takes over
from there. Also вЂ¦
6. Submit you brand new leads website to 40 search engines using this software.
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