Archive for September, 2014

Return Of The Boomerang Buyers

Posted by Joel pate in Uncategorized. Tagged:

For some of REALTOR® Anna Klarck’s newest buyers, the path to homeownership has been bumpy; but it is one her clients are still eager to follow.
The market’s newest buyers were some of the hardest hit by the housing downturn, losing their homes to short sales, foreclosure or even bankruptcy. But they have dusted themselves off and are now ready to buy again. They are “boomerang buyers;” and as time passes, more of them are beginning to reenter the housing market.
Klarck, a broker with RE/MAX Showcase in Long Grove, has seen renewed interest from former short sale clients in the last year as more of them restore their credit, put aside money for down payments and get past the mandatory waiting periods needed to qualify for mortgage financing again. “I’m seeing more people coming back and buying again,” she said. “The excitement of these buyers is something that I just love to see.”
It’s a trend that more REALTORS® will be encountering, and agents who know how to navigate the financing hurdles and concerns of boomerang buyers will be ahead of the game.
According to the 2013 NAR Profile of Home Buyers and Sellers, six percent of U.S. buyers had previously sold a distressed property through short sale or foreclosure. The trend will likely continue as more distressed properties move through the system. Since late 2008, there have been approximately 4.9 million completed foreclosures across the country and more are in the pipeline, according to CoreLogic.
In many states the foreclosure picture is improving, and foreclosure inventory is declining at a faster pace. If that trend continues, Illinois inventory, for example, could return to pre-bubble levels later this year, according to a recent forecast from Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory of the University of Illinois.
Earlier this year, the Illinois Association of REALTORS® hosted the 2014 Illinois Housing Leaders Conference, a daylong event focusing on what REALTORS® need to know to help boomerang buyers. It featured credit experts, mortgage bankers and housing industry officials.
Their advice: Be an informed resource by staying up-to-date on the programs and requirements that can help or hinder your boomerang buyers. Know the factors that can affect how long it takes a person to fully repair their FICO credit score.
A boomerang buyer who went through foreclosure will take a greater hit to their score than someone who sold through short sale. And clients who had better credit before losing their home will take longer to get their score back where it was, said Terry W. Clemans, executive director of the National Consumer Reporting Association. For example, it could take a consumer seven years to restore a FICO score of 780 after foreclosure compared to three years for someone with a score of 680.
Familiarize yourself with the various waiting period guidelines for different financing options. Qualifying for a VA loan could take as little as one year for some boomerang buyers while a loan through Freddie Mac or Fannie Mae could take longer. Other programs, such as the Federal Housing Administration’s Back to Work program can shorten the waiting period to one year.
Shari Olefson, director of the Carnegie Group, author and keynote speaker at IAR’s Housing Conference said boomerang buyers will be an important factor in the emerging market and that REALTORS® need to build a referral pipeline now to identify and assist them.
So how can REALTORS® help these would-be return buyers?
Klarck has had success maintaining relationships with the distressed sellers she helped through short sales. She says agents, most importantly, need to stay in touch. Send them market materials with updates on sales and pricing activity in the neighborhoods where they eventually want to buy. Not only does it keep them informed, it can motivate them and keep them focused on their goal of buying, she said.
Since restoring their credit can be one of their biggest obstacles, Klarck connects them with a trusted loan officer who can offer advice on where they stand with their credit and what they need to fix. The lending landscape has changed since they last bought a home, so they may need to be educated about how much they will need for a down payment or closing costs, Klarck said.
“A three year waiting period is a long time to wait. When they bought their previous homes all these people believed that it was the best investment you could make,” Klarck said. “To see them coming back, it gives you the feeling that the confidence in the buyer’s mindset is there.”

By: Stephanie Sievers, www.illinoisrealtor.org

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

FHA’s Bailout on the Backs of Buyers Begins to Fail

Posted by Joel pate in Uncategorized. Tagged:

In the June 2013 issue of National Mortgage Professional Magazine, I penned an article entitled “FHA Continues to Bail Itself Out on the Shoulders of New Borrowers.” I discussed the fact that FHA’s decision at that time to raise mortgage insurance premiums was effectively forcing new FHA borrowers to bail FHA out from the poor loans of years past.

Had FHA taken the time to do satisfactory market research on the impact of raising insurance premiums — for example, by speaking with LOs and potential borrowers — they might have come to the conclusion that raising the premiums would decrease FHA volume and thus harm the FHA program. Had they not failed to survey potential first-time homebuyers (FTHB), they might also have had some important information that would have influenced a better long-term strategy. Historical FHA data indicates that approximately 75-85 percent of FTHBs utilize FHA financing. When the FHA MIP was significantly lower than conventional PMI, it made better financial sense for borrowers to select FHA as the loan of choice. However, we now see clearly the choice consumers are making — and it’s clear that FHA is losing business to conventional programs.

In addition, the amount of FTHBs has decreased. According to a recent data from the National Association of Realtors, FTHBs accounted for only 26 percent of the January 2014 sales numbers, down from the historical 38-40 percent. It would, therefore, appear that the decrease in FTHBs, coupled with the higher MIP, has significantly decreased new FHA insurance endorsements. This has forced FHA to make some changes, making it easier for lenders to approve loans — a step in the right direction.

FHA has made a bold and much-needed move to bring more clarity to manually underwritten FHA loans that have higher ratios. These FHA changes essentially end the years of unsureness that plagued lenders when underwriting loans that exceeded ratios. Now lenders have clear guides on how to approve the classic make-sense FHA loans with ratios that exceed 31/43.

Mortgagee Letter 14-02 announced these revised manual underwriting requirements for forward mortgages. Here are the highlights of these changes which were effective April 21, 2014:
1. One- and two-unit properties must have cash reserves of one month PITI. Three and four units must have three months of reserves. (Previously only two months PITI were required for borrowers with insufficient credit.)

2. Maximum ratios for borrowers with scores below 580, or above 580 with no compensating factors, may not exceed 31/43 (33/45 for Energy Efficient Homes), regardless of compensating factors. Non-owner-occupant income cannot be included if scores are below 580, but can be included for non-traditional credit borrowers. Previously, no maximum ratio limits were established and it was left up to the underwriter to decide.

3. Maximum ratios for borrowers with scores at or above 580 can go up to 37/47 if the borrowers meet one of the following compensating factors, or up to 40/50 if two of the following compensating factors are met:

Three months cash reserves for one and two units; six months for three and four units;
New payment cannot exceed the lesser of $100 or five percent of current housing expense; must have 12-month payment history with no 30-day late payments;

Verified and documented significant additional income that is not considered effective income;
Meet residual (net-disposable) income requirements as outlined on page 14 of the mortgagee letter.
An opportunity to write more loans
These changes will allow lenders to confidently target the FTHB market which likely has a vast number of borrowers with credit profiles that will require manual underwriting. FTHBs will now have a greater opportunity to qualify for FHA loans, but they first have to become aware of the opportunity. The lenders that implement the marketing campaigns to attract FTHBs will win. I encourage all LOs who want to develop more FTHB business to get this information out to your real estate agents before your competition does.
These changes are not enough!
When FHA was formed by the Roosevelt Administration in 1934, it was the loan of choice for the hard-working Americans who had a dream of owning their own home. FHA filled this role beautifully until the recent leadership began making changes that kept making FHA more and more like a conventional product. The increase in MIP is only the most recent example.
With the expected surplus in the Mutual Mortgage Insurance Fund, FHA needs to listen to what the market is saying and lower the MIP to restore FHA as the clear loan of choice for FTHBs. The FHA loan has always been the ray of hope for millions of potential home buyers, and it’s time for the real FHA to stand up and fulfill the original mission of helping the hard-working American attain homeownership.

By: Jeff Mifsud, www.nationalmortgageprofessional.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

Last week opened with somewhat of a disappointment. Existing home sales in August came in at an annual rate of 5.05M units. That was a little higher than the 5.0M predicted by some, but far short of the 5.2M another team of analysts predicted. Ninety minutes after the markets opened stocks were still in negative territory, and they remained there until the close. The good news out of all of this was the yield on the 10-year note fell two basis points to close at 2.57%.
Those working Wall Street on Monday had more to contend with than losses. It was called “Flood Wall Street Day” and followed Sunday’s huge rally that brought attention to the negative effects big business has on climate change. The goals of shutting down Wall Street and the NYSE were not accomplished; however. Monday’s crowd was estimated at only 2,500.
Meanwhile, back at the Exchange on Monday the Dow closed down 107.60 points, or 0.62%. The Nasdaq lost 52.10 points, or 1.14% and the S&P 500 dropped 16.11 points, or 0.80%.
Tuesday featured only one report, and it was from the FHFA, showing July home prices rose by 0.1%. This was down a little from an increase of 0.3% reported in June.
Markets again posted losses top-to-bottom. On Tuesday the Dow fell 116.81 points. The Nasdaq also shed 19.00 points, while the S&P 500 dropped 11.52 points. Once again, Treasuries made the day worthwhile as the yield fell 3 basis points to close at 2.54%.
On Wednesday, stocks — which have been trolling for a reason to celebrate — all made healthy gains. New home sales in August climbed to an annual rate of 504K units, which translated into 77,000 more new home sales than were sold in July. When stocks closed, the Dow had gained 154.19 points, the Nasdaq climbed 46.53 points, and the S&P 500 was up 15.53 points. Unfortunately, the 10-year yield also added points, and closed the day back at 2.57%.
Thursday was a great day for the 10-year yield, which dropped 5 basis points to close at 2.52%. And oil prices also fell. But there was enough bad news to obscure recent gains. A terrible report on durable goods orders showed an 18.2% decline due to weak sales of commercial jets. Excluding that statistic, orders for traditional durable goods, high-priced items expected to last three or more years, rose 0.7% — up substantially from the 0.5% decrease in July.
First-time jobless claims rose to 293K for the week ended Sept. 20. This was up from the 281K the previous week. Continuing claims, those applying for a second or more weeks of jobless benefits, rose to 2439K from the prior week’s total of 2432K.
Stocks got whacked on Thursday due largely to problems in the high-tech area. Apple’s adjustments that need to be made on the iPhone 6 and their new operating system were just one of the problems. The closing numbers were almost unreal. When the markets closed on Thursday the Dow was down 264.26 points, or 1.54%, and the S&P 500 lost 32.31 points, or 1.62%. But we’re saving the worst for last: the Nasdaq shed 88.47 points, or 1.94%. What a day!
Normalcy was somewhat restored on Friday. The third and final revision of 2nd quarter GDP rose to 4.6% from 4.2%, which was just what the markets expected. But the indices remained in negative territory for the week. You can’t often crawl out of a hole overnight like the stocks were in.
The final report for the week was the University of Michigan’s Consumer Sentiment Report for September, which held at the mid-month level of 84.6.
The week ended with the markets recovering some from their earlier losses. At the close of the day on Friday, the Dow was up 167.35 points. The Nasdaq gained 45.45 points, and the S&P 500 finished the day up 16.86 points.
According to the MBA report for the week ending September 24th, loan applications decreased by 4.1% on a seasonally adjusted basis from the previous week. On an unadjusted basis the index decreased by 5%. The refinance share of mortgage activity slipped to 56% from 57% the prior week. The average contract interest rate for a 30-year fixed-rate conforming mortgage increased to 4.39% from 4.36%, which was the highest rate since May of this year.
Last week the economic reports were on the lean side, but not so this week. We have at least three reports each day, and many more on the first three days of October. Today begins with personal income and spending in August, which are both expected to rise. Income is estimated to climb 0.3% versus 2% in July, while personal spending could jump to 0.4% from -0.1%. In theory, that should give the economy a needed shot in the arm. The PCE core prices, which exclude food and energy costs, are an important inflation predictor, but no inflation is likely to be found this time around. Analysts believe the PCE core prices will come in at 0.0% versus the -0.1 in August. Pending home sales in August should fall.by either -2.0% or -0.2%.
Tuesday features the Case-Shiller index of home prices in the nation’s 20 largest cities. It will be followed by consumer confidence for September, which is forecast to rise to 93.0 from 92.4 the previous month.
October begins on Wednesday with a handful of reports, and many of them will lead to the employment report due Friday. The first hints from ADP, the payroll giant, as to the employment change in September aren’t shockingly different from August data. The figures released for September show somewhere between 202K and 225K jobs will have been added to September payrolls. Unrevised numbers from August came in at 204K.
Next is the ISM index on September manufacturing, which is expected to rise slightly from 59.0 to 60.0. Also on Wednesday will be the construction spending report which is forecasted to slip to 0.5% from the previous report of +1.8%.
On Thursday initial jobless claims will be reported for the week ended Sept. 27. Analysts believe the numbers will come in at around 300K. That will be followed by continuing claims for the week ended Sept. 20, which is being estimated at 2450K, up from 2439K the week before.
Friday is the big one, the employment report for September. After a terrible report in August, there’s no telling what the current data will show. The employment report is expected to show 245K people who were added to non-farm payrolls in September. There’s been little agreement about the employment report this week. The unemployment rate is expected to come in at 6.1%, again.
No news can impact the markets like the employment report, but we also have to mention the August trade deficit — $40.5B. The markets are expecting the deficit to go up slightly to -$40.9B in September. The ISM report on the service sector could come in at about 59, which would be close the previous 59.6 reading.

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

Although last week’s reports were not trend setters, some unexpected results came in. For instance, Monday’s Empire State Manufacturing index for September rose to 27.5 points. That’s almost unheard of in recent months and far above August’s reading of 14.7.
Industrial production across the U.S. fell -0.1% in August, which missed estimates of a 0.3% increase. Capacity utilization, the percentage of manufacturers running full-tilt, was 78.8% versus 79.1% the previous month.
At Monday’s closing, the Dow was the only one to land in positive territory, adding 43.63 points. The Nasdaq closed down 48.70 points, and the S&P 500 stayed out of trouble for the most part, falling a mere 1.41 points. The 10-year Treasury bond fell two basis points to close at 2.60%.
A comment Tuesday from OPEC ignited a downslide. They said early in the day that oil prices would likely go up this winter. That would have a negative effect on almost everyone.
But the earlier across-the-board losses that followed OPEC’s announcement turned to gains in a little more than an hour. The Dow closed up 100.83 points, the Nasdaq added 33.86 points and the S&P rose 14.85 points. The 10-year bond braced itself and closed again at 2.60%.
On Wednesday there were only a couple of reports, and neither of them had much impact on the markets. The consumer price index in August dipped 0.2%, a sure sign that inflation is not an issue right now. And the National Assn. of Home Builders showed its index rising to 59 in September from 55, but that had no impact on trading. In fact, the major stock indices were in the red, likely due to worries about the outcome of the Fed meeting taking place.
Instead, the results of the meeting had a positive effect on the market and set stocks on fire, at least temporarily. But Chairwoman Janet Yellen came by with a garden hose and did a little dousing. She said rates should remain low after the Fed ends its stimulus program. Individual Fed members believe rates will then be 1.375%. It appears that something will happen after the stimulus program ends, but the “when” is far from being nailed down.
The markets closed in positive territory on Wednesday. The Dow closed up 24.88 points, the Nasdaq rose 9.34 points, and the S&P 500 gained 2.59 points. The 10-year yield, which moves inversely to price, went up by 2 basis points, to close at 2.62%.
Thursday’s economic reports were off the mark, which was good and not so good. Initial jobless claims for the week ended September 13th fell into the “good” category, coming in at 280K. That was down 36K from the previous week. Continuing claims also dropped. For the week ended September 6, the total dropped to 2429K — 63K fewer than the previous week.
Housing starts and building permits in August both disappointed, coming in way below estimates. Starts plunged to an annualized rate of 956K from 1117K the previous month, while permits slid to an annualized rate of 998K, a decline of 59K.
The Philly Fed index on manufacturing conditions in September dropped to 22.5 from the August total of 28.
At the close of the day there was good news for stocks and bad news for bonds. The yield on the 10-year note closed at 2.63%, while stocks did pretty well. The Dow reached a new high and breached the 17,200 mark closing up 109.14 points, or 0.64%. The Nasdaq passed the Dow, percentage wise, adding 31.24 points, or 0.68%, while the S&P 500 finished up 9.79 points, or 0.49%.
Friday’s lone report, leading economic indicators, rates a D- in importance. Leading economic indicators are now owned by the non-profit Conference Board, which also produces the consumer confidence index. This indicator attempts to show the economic outlook for the next 6 to 8 months. The change in ownership may earn the report more respect than it has received in the past. But data is based on reports that have already been released, so an increase to 0.4% was predicted for August, but it was actually only 0.2%. Either way, it was down from the 1.1% increase in July.
The Dow was the only stock index to post a gain on Friday, adding 13.75 points. The Nasdaq fell 13.64 points, while the S&P dipped 0.96 points. The 10-year treasury yield fell 4 basis points to end the week at 2.59%.
The Mortgage Brokers Association put out its most upbeat release in weeks. The week of September 7, mortgage applications jumped 7.9% from a week earlier — something we haven’t seen in a long time. The unadjusted purchase index increased 14% compared with the previous week. That was 10% lower, however, than the same week a year ago. Refinances jumped 10% and were up from the previous totals.
“Application volume rebounded, coming out of the Labor Day holiday, even as rates increased to their highest level in the last few months,” said Mike Fratantoni, MBA’s Chief Economist. He added that, “Given the volatility in activity around the long weekend, it can be helpful to look at the change over a two-week span: refinance applications are down 1.4% while purchase applications are up 2.1%. Purchase volume continues to track almost 10% behind last year’s levels.”
The average contract interest rate for a conforming 30-year fixed rate loan increased to 4.36%, the highest level since June 2014.
Looking at this week we have eight reports spread over five days. The always-important report on existing home sales for August comes out today. Expectations range from an annual rate of 5.0 million units to 5.2 million. Let’s say 5.1M and see how it flies. Annual sales in July rose to 5.15 million units.
That will be followed on Tuesday by the FHFA House Price Index. No estimates are currently available.
Wednesday new home sales for August are due, and analysts believe that the results could come in at an annual rate of 420K to 435K. That would top the previous 412K.
On Thursday initial jobless claims are due. They are expected to come in at an annual rate of about 310K. Continuing claims, those applying for a second week or more of benefits, are expected to be about 2490K, which would be up from the previous report of 2429K.
Durable goods orders for August, which considers pricey purchases meant to last three or more years, are expected to drop about 18.5% after climbing 22.6% in July. Durable goods excluding transportation are expected to rise to 0.4% after falling to –0.7% in July.
On Friday the final estimate on Q2 GDP is predicted to come in at 4.6% or 4.7%, either of which would be very acceptable to the markets and very threatening to bonds.
The final report on Friday is the University of Michigan’s consumer sentiment survey for September, and it is expected to hold at a decent 84.6.

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

To avoid a stagnant sales career, you must grow with change. In other words, you must keep a finger on the pulse of the market and on the pulse of your clients’ needs and values, the pulse of your product or service, and your own pulse. It’s a good thing you have so many fingers!
I want to show you how to do away with stagnating and how to use an anti-stagnating strategy to ensure that you remain on top of your selling game now and in the future. Here are four steps that you must take to remain apprised of the constant changes in the industry and stay ahead of your competition:
Study your product or service like a consumer
There are so many choices for consumers these days that there is now an entire industry dedicated to helping consumers make the right choices. There are Fodor’s travel guides, Zagat’s restaurant guides, and Consumer Reports to help with just about every product or service choice under the sun. There are also the “top tens” of numerous other products or services every year in popular magazines.
And if you are to maintain a selling edge, you must know what the consumer world is saying. Find the magazines or newsletters or books that provide surveys and guides about your particular industry. Take a look at what they are telling your customers to buy. Read about the trends that are predicted for your product or service. Then determine how your competitors are positioning your product.
Survey your clients regularly
We’ve discussed the importance of transitioning your current clients to partners who have a shared interest in your success. When you’ve taken steps to ensure that happens with each client, keeping abreast of any changes in their wants, needs, or values is easy. In fact, the most effective and surefire way to pick up on such changes is to have an ongoing relationship with them. You can’t just send out a bunch of survey mailers and hope they get back to you. When you meet with clients have an agenda. Know what questions you must ask them on a regular basis in order to make certain that no values or needs fall through the cracks.
When you regularly survey your clients you stay abreast of any changes in their wants, needs, and values, and you also stay on top of any “corporate” changes in the buying climate. In other words, with the results of purposeful surveys, you have specific information that helps you cater to individual desires, and you have general information with which you can foresee general buying trends and adjust your sales efforts accordingly.
Play the market
Become a buyer in your own market. To remain ahead of your competition, you must understand what it’s like to be a consumer of your product. As a salesperson you can only adjust your selling efforts based on what you observe from the selling end of the transaction. But you can’t truly empathize with your buyers until you are one.
I believe that every salesperson who is truly interested in understanding his buyers and remaining on the cutting edge of his industry must own the particular product he sells. To fully comprehend what a consumer of your particular service goes through in the process of buying and owning, you must have gone through the process at least once — preferably in the not-so-distant past.
Survey yourself annually
I call this the “Annual Review with You.” It’s geared to ensure that your needs and values in life are consistently met and upheld over the course of your selling career. In essence, it’s designed to ensure that your life doesn’t become stagnant in your pursuit of selling success. Dorothy Canfield Fisher once said, “If we would only give the same amount of reflection to what we want to get out of life that we give to the question of what to do with a two weeks’ vacation, we would be startled at our false standards and the aimless procession of our days.”
So, begin conducting an annual review of your life’s procession. Find a place of solitude, free from distraction, and spend no less than eight hours answering the following questions:
1. What am I passionate about that gives meaning to my life?
2. What do I value that gives me true satisfaction?
3. Am I missing anything in my life right now that is important to me?
4. Where do I want to be and what do I want to be doing in five, ten, and twenty years?
5. What personal gifts am I perfecting? Which gifts am I not using effectively?
6. What would I be willing to die for?
7. What is it about my job that makes me feel trapped? How can I change that?
8. With regard to money, how much is enough? If I have more than enough, what purpose does the excess serve?
9. Am I living a balanced life? Which areas need more time or focus?
10. Where am I seeking inspiration, mentors, and working models to achieve greater significance?
11. What do I want to be remembered for? Am I currently known for those things?
12. What legacy do I want to leave my children? Am I leaving it?
The Annual Review with You is for the purpose of reviewing your heart, your soul. When you do that on a yearly basis you will ensure that nothing — not even sales success — will get in the way of the most important things in your life. And that’s vital because selling success and life satisfaction can and should go hand-in-hand. When they do, your competitors don’t have a chance.

By: Todd Duncan, www.theduncangroup.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

With real estate markets back on the rise almost everywhere, there sure are a lot of newer agents out there. If you’re just starting out in real estate, we’ve come up with four things you shouldn’t say when you are working with clients. And even if you’re a veteran agent, you might catch yourself occasionally blurting out the following no-nos.
None of these utterances, however, has to be a deal-breaker. We’ve put together a few scripts you can use instead, or perhaps immediately after (in the event that you have already put your foot in your mouth).
Don’t Say: I only check my messages/emails/phone during business hours.
In today’s mobile world, clients expect really responsive agents. We understand, of course, that you don’t want to be a slave to your devices, but you still must demonstrate to your buyers and sellers that you will be there for them — or else another agent gladly will be. Set reasonable expectations from the get-go to protect both your sanity and your reputation.
Do Say: As your agent, I am here to answer all of your questions about the home-buying and selling process. How do you prefer to communicate? The best way to reach me is usually via (text/email/phone) between the hours of (pick a range you’re comfortable with), but I am always alert to the needs of my clients. If I do not respond immediately, you can expect to hear back from me within (x) number of hours. Does that work for you? Don’t Say: I don’t have a website.
Not having an agent website in today’s digital world is a major red flag for many consumers. Clients don’t want to know more about your brokerage; they want to learn more about you to see if you’re the right fit to help them with the biggest purchase of their lives.
Do say: Yes, please visit my mobile-friendly website at any time to learn more about me, check out new listings in the area and access the many free buyer and seller resources I have available to my clients. There’s a mortgage calculator, neighborhood information and much more!
Don’t Say: I don’t do open houses.
Open houses don’t often work to sell the home being shown. We all know that. But many sellers still expect you to host at least one open house, and it can be a good way to get your name out there and meet more potential clients. Be sure to demonstrate to your sellers all the other ways you will market their home, and your sellers will likely put less importance on the open house — and may even elect to bypass it of their own accord. Who really wants to deep-clean the house on a Friday night, anyway?
Do Say: Open houses certainly are one way to market your house to people in the area. There are many other ways that I will market your home to the 90 percent of buyers who use the Internet during their search, including sharing your listing with the top real estate websites. I am also able to create a single-property website for your listing that is like a virtual open house available to online buyers 24 hours a day. Would you like that?
Don’t Say: I will get you this house.
You know what they say: under-promise and over-deliver. If you do the opposite and promise to get your buyers the house — and then the loan falls through or the house fails the home inspection and the deal doesn’t close — through no fault of your own — how will that look? Do you think disappointed clients who didn’t get the house they had their hearts set on, the house you promised them, are likely to give you a referral?
Do Say: I am so happy you have found a house that you love! I will do everything in my power to help you buy this house. Let’s make an offer right away. If your offer is accepted, here are some things you can expect to happen next (depending on the situation). If your offer is not accepted, let’s talk about how we will proceed in the event of a counteroffer.

By: Geneva Ives, www.rismedia.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

Owning a home has long been a big part of the American Dream. Obtaining that dream means having a place of sanctuary and security as well as shelter. What that house looks like and how it functions is changing to accommodate different family make-ups, population and culture shifts toward denser more integrated communities, and increasingly extreme weather patterns. Tomorrow’s best housing solution isn’t all about high-tech systems, complex building techniques, or Jetson-esque designs, however. According to experts, educators, and experimenters in the residential design and construction industry, many solutions for building houses for the future involve revisiting what worked before. Combining historic research with new innovations is what will produce the best housing. Byron J. Mouton, Tulane architecture professor and founder of BILD Design sums it up: “The future is going to depend greatly on an understanding of the past.”
Looking to the Past for an Affordable Future
“Prototypic examples that can be replicated by the common builder with little education” is Mouton’s prediction of what the future holds for housing that’s both affordable and approachable. URBANbuild is Tulane’s student design/build program that Mouton runs, where he and his students often discuss what houses should deliver now and in coming years.
URBANbuild’s houses, such as Build 3, are forward-thinking and sturdy, but built inexpensively and quickly. Common-sense features like operable windows, porches, and ceiling fans offer homeowners temperature control that’s practically free. Mouton says: “There’s a desire and need to run homes more passively.”
Sheila Kennedy, principal of Boston-based Kennedy & Violich Architecture (KVA), also looks to former trendsetters as motivation for her experimental work in residential design. The architect surveys iconic houses and household items to find new ways of using “old” products or materials. The firm’s Soft House prototype transforms something as familiar as a curtain into multipurpose, high-tech solar energy gathering and distribution system that also does the customary jobs of a curtain — shading, insulating, partitioning, and providing privacy.
Building Sustainability for Healthy, Resilient Houses
“We shouldn’t be turning out houses that aren’t sustainable,” declares Timberlake, principal of Philadelphia-based Kieran Timberlake, University of Pennsylvania professor, and Board of the National Institute of Building Sciences appointee. “For us that means reducing energy and water costs and usage over the life-cycle of the house. It’s about operational sustainability.” Green, sustainable, high-performance building is here to stay. Codes are being updated to enforce it, and homeowners demand lower energy costs, non-toxic interior environments, and houses built to survive disasters.
Mouton says that most of his entry-level clients are young professionals and families wanting to move back into urban communities. He describes a collective desire among all types of homeowners, however, who are looking to build or renovate houses in older, established neighborhoods. This requires designers and builders to incorporate durable, flexible building techniques. Advanced, energy-efficient construction methods like pre-panelized wall systems aren’t yet entirely cost-effective according to Mouton, but he believes they will be once builders become comfortable using them.
“We need to address climate change, and generating clean energy is a good step forward,” Kennedy states. A division of her firm, called MATx, is devoted solely to research. KVA designed its Soft House through MATx as a single-family model intended to be replicated for mass markets. Soft House is a hybrid that gets energy both from traditional power sources as well as textile solar cells. “We kept the appliances and everything that is AC on the grid,” Kennedy explains, “and the curtain track is pure DC to power plug-n-play electronics that are already DC like TVs, laptops, tablets, and mobile phones.”
A working prototyp, is a set of four live/work row houses that feature the firm’s textile solar cells while also meeting Passive House standards. An average of 15% of the project’s energy comes from KVA’s solar system. Kennedy says, “we make a low-carbon lifestyle beautiful and appealing — something people want to embrace. America is overbuilt…we often bring together dozens of chemical components and materials that produce a trail of carbon emission before they even get to your house.”
Adapting a Global Paradigm to Regional Demands
“iPhones aside, very few industries have come up with a one-size-fits-all product, and especially not housing. “We’ve really been trying to devise a worldwide, affordable, sustainable housing type,” Timberlake explains. “We’re trying to find the right chassis for the structure of the house as well as the right wall and finish applications, but still give choice,” he adds.
New technologies like computer-aided design, parametric software, building information modeling, biomimicry, 3D printers, nanotechnology, panelized and engineered building materials, and other emerging methods are making it possible to replicate a global housing typology but with variations. Advanced technologies afford the ability to adapt a stock formula to fit local climate, demographics, and homeowner preferences. “The real driver to generate housing appealing to the marketplace,” Timberlake ventures, “is merging sustainable practices, affordable construction, and a long life cycle with the ability to repetitively respond to regional market influences with in a very short period of time.”
Adaptability must apply to interior configuration as well. One room might serve as a home office, guest room, nursery, playroom, TV area, or hobby space and it might have to function as all of these simultaneously. Multigenerational households, single homeowners, migrations into urban communities, co-housing, and aging in place are all trends requiring houses with higher density, multipurpose spaces, and movable walls. The benefit of technology is that it can provide mass production with variation.
The future of the American Dream depends on successful changes becoming widespread and permanent. In this way, houses will be attainable by most while sheltering us safely, durably, and beautifully.

By: Shelley D. Hutchins, www.builderonline.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

If you were offered a well-deserved raise at work or a no-strings-attached wad of money, would you take it? You’ve surely heard that money can’t buy happiness, but it can certainly get you closer to an enjoyable life, right?
Yes and no, says Elizabeth Dunn, Ph.D., associate professor of psychology at the University of British Columbia and author of Happy Money: The Science of Smarter Spending. “It turns out, what you do with your money seems to matter just as much to your happiness as how much you make,” she says. And that is good news, indeed, for those of us without a sudden windfall or a promotion in our near futures.
Here are six facts that may surprise you — and tips on how to live the good life, no matter how much you’ve got.
Don’t sweat the six-figure job
“There is definitely a correlation between income and happiness,” says Dunn. “But actually, money buys less happiness than people assume.” And in some ways, it buys happiness only up to a certain point. A 2010 Princeton University study found that emotional well-being — defined by the frequency of emotions like joy, anger, affection, and sadness — tended to rise with salary, but only up to about $75,000. Beyond that, people continued to rate their lives as more satisfying, but they didn’t seem to experience any more happiness on a day-to-day basis.
Spend on experiences, not things
Material goods may last longer, but a 2014 San Francisco State University study shows that life experiences — like trips, fancy dinners, and spa treatments — provide more satisfaction in the long run. Researchers interviewed volunteers before and after they made purchases of both types, and found that, afterward, most people viewed the intangibles as a better use of money. However, they add, an experience has to fit a person’s personality in order to have benefit; someone who doesn’t like show tunes, for example, probably won’t see the value in a Broadway play.
Donate to charity
Giving to people or organizations in need “has a direct correlational effect on happiness that is basically equivalent to a doubling of household income,” says Dunn, citing research from a Gallup World Poll. How you give matters, too, she says. You’ll get more of an emotional reward by supporting groups you feel closely connected to, or when a close friend asks for your help. (In other words, accept that Ice Bucket Challenge already — the giving money part, at least!)
Pay it off early
“The pleasure of consumption can be dragged down by the pain of having to pay for it,” says Dunn. One way to get around that: Put money down for things as early as you can, even if you won’t actually experience them for a while. Book trips months in advance, pre-order books and albums you’re excited about, or purchase credit for a service you can redeem at a later date. “Research shows that what lies in the future is much more emotionally evocative than what lies in the past,” she adds. “If we paid for something last year, it’s almost like our brain forgets we ever spent money on it.”
Give thoughtful gifts
When money gets tight, it may seem wasteful to splurge on presents and tokens of affection — but Dunn’s research shows that spending money on others, especially a loved one, is one of the happiest things you can do with your money. (In one study, people who had been asked to spend $5 on someone else felt better at the end of the day than those who’d been asked to spend it on themselves.) It’s the thought that counts, too: Both givers and receivers are happier when a gift is a good fit for the recipient’s personality.
Use a debit, not credit card
Being in debt is negatively associated with happiness and is linked to health problems such as depression and anxiety. It may be hard to avoid all forms of debt, but one way to keep from falling deeper into it is to make everyday purchases with debit accounts, rather than charging them. “Debit cards are way happier plastic,” says Dunn. “They provide a lot of the same conveniences as credit cards, but don’t have the same long-term problems associated with them.”

By: Amanda MacMillan, www.health.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

Sellers are savvy and smarter, and surveys prove they are more demanding than ever! So, what are you doing, saying, or using right now that obliterates the question: Why should I hire you?
Smart agents understand that, as today’s consumers become more selective about their choices, real estate professionals are forced to up their offerings to meet these new demands. So, what do you do to create a truly unique service offering in your market? What do you say or do that communicates to the consumer that you are different from your competitors and be able to articulate those differences in a way that says, “You should only want to hire me?”
It takes more than the latest apps, tips, resources, programs and tools to set you apart from your competition. What it takes is a truly unique selling proposition, specialization, expertise and cutting-edge platforms to dazzle your prospects. Very few agents can articulate what they do differently or better than their competitors. It’s not about more sales or more marketing it’s about targeted, specific, unique initiatives that get a consumer’s attention.
The most frequent and frustrating mistakes agents make can be remedied with a few new habits:
1) Go digital! The marketplace changes while you inhale, and that requires real-time updates and information. Invest in an iPad to have full resources right in your hand. Use it to offer a paperless CMA where the seller can participate in the pricing process. Use it to shoot video, take pictures and automatically email new photos of properties to prospective buyers. Sellers need to be “wowed,” and harnessing the power of an iPad is a powerful differentiator. For great insights on the best ways to use an iPad for real estate, visit: www.TabletVideoForAgents.com and get real online training to get the competitive advantage in your market.
2) Can you offer a seller a website specifically for their property with their own special URL that makes it high visibility in their marketplace? Few agents ever utilize a single-property website effectively. It takes more than a website to get sold. Best results result when you implement a cohesive, market strategy directing the buying prospects to the site using a powerful integration approach that includes online social channels, video, and more. Online web services like www.Point2Agent.com offer a professional-level web solution that includes 5 single property website options and a “featured property” position on high level searches. This kind of positioning will get a seller’s attention.
3) Virtual tours are a terrific tool, but a tour that offers engagement rocks! Does your virtual tour include engagement options for the viewer? Options like changing the colors of cabinetry, flooring, trim and walls, all with a click of a button? Engagement is the differentiator here to involving the prospect and their interest until they convert to being a real prospect. Check out www.Obeo.com for the many innovations they offer — like professional photography, a tour that offers “virtual staging,” even online remodeling and redecorating tools. Today’s buyers often rely on mobile apps, so be sure that your virtual tour includes mobile marketing solutions, and social media apps. One-dimensional virtual tours can’t compete in this advanced arena.
4) How would you rate your global digital footprint on the web? In other words, how much global exposure can you offer the seller or attract foreign buyers? According to reports from NAR, 82 billion dollars was invested in the USA by foreign buyers. Without a strong global profile, your listings are invisible to possible buyers. Not all platforms offer search options for foreign Google searches. Check out www.Real-Buzz.com, a service that can “automagically” converts your properties to over 22 languages. When you articulate the power of global exposure to your sellers, they are assured you offer truly unique exposure to your listings.
5) One of the best ways to create a distinction in your marketplace is specialization. Today’s consumers, especially GenX/Y and Millennials, demand specialization and are committed to finding that expertise. Become distinct in an area of specialization, and you can guarantee you won’t become extinct! An excellent example of specialization is top agent, Jack Cotton. Check out how he handles luxury home specialization on www.JackCotton.com. Jack says that luxury doesn’t mean gazillion-dollar properties; it can be the top 10% of your marketplace. If you are looking to make higher income per sale, this is a strategy you may want to adopt. Other specializations are military, first time buyers, or specific property types.
6) YouTube is the second-largest search engine on the planet, yet very few agents harness the power of this interactive platform by creating their own YouTube Channel. Today’s consumer is looking beyond just finding the right property; they are looking to compare lifestyles where the property resides. Set up your own YouTube Channel, and include playlists. Categories can include an introduction of who you are and what you do, where you do it, and an introduction to your team. Include short videos highlighting the neighborhood or towns where you specialize. Include a playlist of testimonials from happy buyers, past clients and strategic partners who help you serve your clients and customers. Video is the single key to creating a position of “celebrity authority” in your marketplace. For a great, affordable and short course on how to use video effectively, visit: www.EasyAgentVideo.com for online instruction and some free video downloads.
If you want to win at more listing presentations and get more buyers more easily, get good at being digital and you will be ahead of the pack!

By: Terri Murphy, www.murphyonrealestate.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com

Posted by Joel pate in Uncategorized. Tagged:

Borrowing money to buy a home is cheap — mortgage interest rates remain near historic lows with the 30-year fixed-rate mortgage averaging 4.3% in the first six months of this year. And, while house prices are up, buying a home remains affordable in much of the country; and for many it could be a good long-term investment. Even further, in many areas of the country, buying a home is less expensive than renting.
Yet, mortgage origination activity is certainly not meeting expectations this year. Are people buying homes or aren’t they?
The answer is “yes” — with qualifications. You have to peel back the onion to understand the factors impacting mortgage originations so far this year; and there are three important things you need to know:
The refinance boom is over
Refinance mortgage originations were down about 60% percent from 2013 to 2014, and we expect them to decline about another 50% from 2014 to 2015. With mortgage rates expected to rise gradually in the coming months, the incentive for borrowers to refinance will decline and new purchase mortgage originations are unlikely to replace the refinance activity of recent years.
Home sales are off
Sales of existing and new homes are down 5% during the first six months of 2014 compared with the first half of 2013. A period of higher mortgage rates, a harsh winter, and slower economic growth compared to a year earlier contributed to the slowdown.
Cash sales are up
People are buying homes, but the number of people who take out a mortgage to purchase them is down compared to last year. All-cash sales of homes in the first six months of this year are up slightly from 31% to 33% according to the National Association of Realtors. However, with rising home values and fewer distressed (REO, foreclosures) homes coming the market, expect the available inventory for all-cash buyers to trend down in the coming year.
So, what factors will drive improved mortgage origination activity? Simple: sustained economic growth and jobs.
The second quarter economic growth of 4% was welcome news after the first quarter’s 2.1% decline. But we need growth in the last two quarters of the year at a better pace than the first half to reach a forecasted annual rate of about 2% – 2.5%.
On the employment front, job gains through July of this year — averaging 230,000 new jobs per month — are also welcome news. However, there still is underlying weakness in the labor market. During the Great Recession, the labor market lost 8.8 million jobs — 78% of them “good paying jobs” according to the National Employment Law Project. At this point during the recovery, good paying jobs only account for 56% of job gains (26% mid-wage jobs and 30% higher-wage jobs). Meanwhile lower paying jobs, which accounted for 22% of job losses during the downturn, have accounted for 44% of job gains.
Overall, recent economic and employment improvements should help bolster household formations and contribute to gains in construction, home sales — and also mortgage originations.
However, even with these improvements, expect new and refinance mortgage origination volume for this year to be the lowest since 2000 at about $1.15 trillion.

By: www.freddiemac.com

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution

For more details please visit Scoreinc.com