RADON, ASBESTOS and LEAD - OH MY!

4 May 2007 - Madison, Wisconsin

The Mortgage Guys rip one from the podcasting archives in this favorite about Home Inspections.

#22 - RADON, ASBESTOS and LEAD, OH MY!

Nope. We're not in Kansas any more Toto - we're in Real Estate! Now it's time to find out what's more dangerous - the Wicked Witch of the West or Your House. To do that, you need a home inspection...

"I'm ALREADY paying for an appraisal - now you say I should pay for a Home Inspection?!?!" Welllll...after you listen to this this recorded interview with Kimberly St. Louis, a Certified Home Inspector with A-Pro Home Inspections (a-pro.net/madison), you may want to spring for it! Kimberly talks to The Mortgage Guys about just what an inspection is, who benefits from it, and discusses the powerful information contained in the report.

Whether you are buying a brand new yellow brick home or live in a century-old castle (flying monkeys and all), Kimberly says a home inspection might save you thousands of dollars and even uncover health and safety hazards (a little fire, Scarecrow?).

Don't worry, Bill Quigley and Art Blanchet will get you all the info you need, and it won't cost you a tin', man.

http://www.talkshoe.com/talkshoe/web/audioPop.jsp?episodeId=1071

(FREE "Podcasting & Real Estate" webinar coming your way - email us at info@yourhome-yourmoney.com (Subject: Podcasting) to queue up. Details will be forthcoming.)

Ben Benanke's Rival Makes His Bid - or Why I'll Never Look at the Federal Reserve the Same Way Again

A little treat for those who keep track of the Federal Reserve. Remember Sting, The Police, and"Every Breath You Take" - you will, very soon...

Personally, I think Ben Bernanke is doing well, but it's difficult to measure a man's performance as Fed Chief after only a year. Give Mr. Bernanke a presidential administration of two to show his stuff, then evaluate.

The singer in this video is Glenn Hubbard, Dean of the Columbia School of Business - and you thought these guys were GEEKS! Ha!! You can't judge all college deans by National Lampoon's Animal House standards.

In the mean time, enjoy this little ditty courtesy of YouTube, with a special thanks to Shailesh Ghimire of Arizona for pointing this at me.

Blog Closed Today

MORTGAGE GOLIATH STONED - We Interview Davey

26 April 2007 - Madison, Wisconsin

There is no shortage of press about the subprime market and the less savory products known as "option" ARMS and pick-a-payment loans. Many people felt they were duped or misled. Frankly, I had a hard time believing some of these people were victims - did they really believe that while the rest of America was paying 6 and 7 percent for their mortgages that they'd get a long term rate at 1.95%?!? It was tough for me to swallow and I even said so over the air on our weekly show more than once.

Then Bill and I came across this article in the online version of the Washington Post. As the couple was from Wisconsin, we wanted to interview them. They agreed. Here's a summary we later attached to the show/podcast:

http://www.washingtonpost.com/wp-dyn/content/article/2007/02/05/AR2007020501415_pf.html

This mortgage-gone-bad story is getting attention across the US as it applies to borrowers everywhere. According to an article in the Washington Post, Susan and Kevin Andrews of Cedarburg, Wisconsin refinanced their home in 2004 into what was explained - and reportedly documented - to be a 1.95% interest rate that was to be fixed for five years. It was not. The Andrews family decided to fight and eventually took the lender - Chevy Chase Bank - to court and WON, setting the table for a class action lawsuit by thousands of borrowers in the same boat. This is their story - and their caution - to the listeners of Your Home-Your Money as related in this intriguing live interview.

http://www.talkshoe.com/talkshoe/web/audioPop.jsp?episodeId=14889

Will "Older Adults" Benefit from Florida's No Property Tax Proposal?

19 April 2007

I'm not trying to whip a dead horse.

Life can throw a few curve-balls at you - some of which open eyes to a different viewpoint, a different paradigm. I think my mind's been in Florida a bit lately, especially with reports coming in about my wife's uncle who is in the hospital down there. I guess you mix that with David Podgursky's blog and an event that happened a few minutes ago, and for me, an idea akin to an epiphany moved to the surface of my mind.

The catalyst to the new viewpoint came from a very simple comment from Michael Fooladi, who comments in my Would You Trade SALES TAX for PROPERTY TAX? blog. Michael simply wrote, "Absolutely. Raise the sales tax and do away with property taxes." I then thought of the "old timers."

Wouldn't it be something if our Older Adults (the PC form of Senior Citizens) - which are our current Moms and Dads, Grandmas and Grandpas right now (and will be us some day) could actually LIVE on their social security, savings, and retirement funds!? With NO Property Tax they could even truly OWN their homes. Completely! Currently, if they don't pay property tax, they could lose them. But imagine a situation with 100% ownership, no property tax, and maybe even no insurance! Full ownership. What a novel idea!

If the burden were switched to Sales Tax, the older adults - who are in their low consumption years - would really get a break. Would this turn Florida into a gigantic retirement home (insert pun here) filled with semi-destitute retirees? I doubt it - real estate prices a too high for that to happen. There would be changes, but I don't think insurmountable ones.

The more well-heeled retirees could throw more money (and sales taxes) into the economy as they'd have more to spend. And the wealth from inheritances - which could be greater - could churn the economy, too. It'd mean less financial burden on the middle-aged children who sometimes supplement their parents living, so again more money for other things.

Of course I'm thinking ideally here for one segment of society. But our aging citizenry - many of whom have given to society for decades and decades - could really benefit from my simplistic observation. After paying for school and government for 50 to 70 years, might someone say, "Stop. Thanks - you've done your part." at some point?

It is quickly becoming nothing short of a crime to grow old in America. Does Florida have a solution, even if only as a side effect?

Art Blanchet

Bill Quigley

Your Home-Your Money.com Mortgage Talk Radio

Don Imus Has Distracted Me Today

A little departure from mortgages might be necessary here. I cannot let the Don Media Circus pass without making some sort of footnote entry. It happened, so I'll mention it here ONCE.

I am flustered - I find this Imus thing to be so morally ambiguous that I'm not sure what to think. There is no doubt his flippant remark was stupid and insulting - and I DO think the racial underpinnings were something we really didn't need to hear over the airwaves - certainly not 100 times in three days, either. It was a stupid remark - and he deserved censure.

He also personally insulted young women athletes he knew nothing about. As a father of three young women, I was angry at his abject ignorance and thoughtlessness. It was MEAN to say those things.

Perhaps even more deplorable than what Imus himself said is that it launched the programs of the reactionaries and opportunists. A raging tirade was unleashed with many self-aggrandizing semi-political celebrities vying for the spotlight and trying to expand a stupid, callous remark by one has-been into a national agenda. The spotlight grabbing and self-serving spillover has been sickening.

Who are the victims here? Who was injured? We can certainly broaden the scale to include an entire race, or even an entire gender - isn't that what's already going on?. However, it appears to me that while we can go that route, the true victims were the Rutgers players and their families. And how did they react? They met with the offender - discussed the matter - and forgave him. The victims forgave the offender. Who has greater demands on justice than the victim?! Certainly the politicians do not.

A year ago the Amish community was shattered when a man - known to them - kidnapped, bound, and slew their precious daughters. What was their reaction? They forgave the offender, forgave his family, attended his funeral, and reached out in healing to the family of the very man who had harmed them so deeply - a man who had taken innocent lives. The Amish leaders did not launch a a diatribe against those they perceive to be different or even oppressive. They did not blame society. They didn't say it was television, or music or media either. They simply, quietly offered forgiveness and closed the books on the painful matter. They will heal and grow. They are now also admired and respected as a result of adhering to the ideals to which most of us can only wish to aspire.

Imus made a stupid remark, but it was his stupid remark. It did not represent any other individual on the planet. The Rutgers team behaved well. Everyone else in media did not.

"He who takes offense when none is intended is a fool. He who takes offense when it is intended is usually also a fool." - Brigham Young. The court of public opinion seems to be presided over by very, very foolish judges.

Florida Residents Might Trade PROPERTY TAXES for SALES TAXES

12 April 2007

With the April 17th Federal Income Tax deadline looming as a reminder, "taxes" in all forms moves to the forefront of our minds. Property tax in particular is becoming a major issue in Florida (although I think insurance should). No one is certain as how to get rising taxes under control - the massive real estate appreciation of the first five years of this century didn't help a bit -

I received this email today from a "Doris". I do not know who Doris is, but she has a message.

The web address "Doris" provided in her message (below)linked to a website entitled No More Property Tax, which states it is sponsored by the Republican Party of Florida. I Googled "nomorepropertytax" and many news articles and blogs showed up - 133 in 0.26 seconds (slow for Google). It appears this movement - which is essentially will raise sales tax to 8.5% while essentially eliminating property taxes for full-time residents and reducing it for 2nd homes.

There are skeptics on both sides of the equation. While in Florida in February, I read a newspaper article that said Florida would have to raise sales taxes to 13.8% to eliminate property taxes. I suppose the elimination for residents coupled with the reduction for non-residents resulted in the 8.5% number.

There is more to this than just swapping numbers. A few questions are posted at the end of this blog entry for consideration.

Here's is Doris's email and the link to No More Property Tax dot-com:

If you haven't already heard, the Florida State government is looking to make dramatic reforms in how Florida property taxes are paid (if at all), and this could go into effect by next year. I don't have to tell you the incredible impact that this would have on Florida's real estate market.

Here is a summary of what is being proposed (and we are expecting it to pass:)

- If you own a residence in Florida and are homesteaded (as your primary residence) you would no longer pay property tax. Zero.

- If you have a Florida residence as a second home, or if you have a commercial property, property taxes would be rolled back to 2000-2001
levels.

- Future property tax increases would be limited.

To accomplish this aggressive measure, the State of Florida would increase general sales tax by 2-2.5%.

Those of us who live in Florida are extremely excited about this initiative.

We would like to ask you to add your name to the petition in support of this initiative. Click on link below and register your support.

We are expecting it to pass, however, your voice would be welcomed.

Please forward this email to other property owners you know in Florida.

(Fields marked with * are required)

http://www.nomorepropertytax.com/endorse.php

(end of email)

So, the taxation question exists for YOUR state as well as Florida:

• Would you favor an elimination of property taxes by raising sales taxes?


• What would the consequences be?

Imagine qualifying borrowers and home buyers without property taxes:

• Would the result drive up sales prices again? Would this jeopardize borrowers ?


• How do you think this would affect your state's economy?

Other insights or ideas?

Art Blanchet

Bill Quigley

FREE SWEEPSTAKES at Your Home-Your Money - $1000 Monthly Prize

11 April 2007

Our website is provided by ALAMODE.com. We pay for the hosting service and template. We can modify it within certain limits, so it is unique. ALAMODE really strives to support us and help us provide tools, value, and information (much of which we customize) to our visitors and clients alike. It's a good relationship.

ALAMODE now sponsors a monthly Sweepstakes with a nice prize. It is absolutely FREE for visitors to enter - their goal is to increase traffic on the websites and give us - THEIR customers - something to give back to our visitors. It's a nice perk that doesn't hurt anyone or cost money. We are accountable to RESPA, so the contest is open to everyone (of age).

If interested, take a minute or two to enter. Rules are posted on a link provided on the entry form. It's not very invasive and as a result of your entry you get put in our (Bill and Art's) database, where you occasionally can get special emailed reports, ideas, and info. You can opt out (and get eliminated from our personal list) any time.

You don't need to be a client or customer to enter - just a visitor. We appreciate you reading this blog, so we decided to share to chance to win through Blogger, too.

Here's the blurb:

We wanted to make certain you got this, so we posted it on our blog page. Thanks for visiting and looking around. To enter go to www.yourhome-yourmoney.com/sweepstakes or click HERE. Good luck, too!

Visit our website and get registered (click on the word "SWEEPSTAKES" in the right-hand column.) for our monthly sweepstakes drawing and you could win $1,000! That will go a long way to a down payment on your dream home, some new landscaping, or your next home loan payment. Either way, it’s cold hard cash – so register now!

While you’re there, check out all the ways we can help you with any of your real estate needs!

• Thinking of looking at some homes? It pays to pre-qualify and we can help you in just minutes. Give us a call at 608-831-HOME (4663) to get started right away.


• Need to refinance? Rates are great right now and we can help you with refinancing. Get out of that nasty ARM and take advantage of excellent FHA products only one-quarter of brokers can offer.


• Want a hassle-free loan? Then you’ve definitely come to the right place. Our loan process is super easy for you and we don’t drown people in excess paperwork.


• FREE Reports, loan calculators, and borrower's tools. All here for your use.


• Listen to our podcasts, Ten-Minute Lessons, and radio archives. Here you'll find a great discussion about some of real estate's most pressing issues - and simple solutions - as they pertain to your home and your money.

You don't need to be our client to enter the sweepstakes - just fill out the entry form and you're in! Don't forget to come back every month - or more often if you want!

Good luck with your entry! We hope you’re the next lucky winner!

Bill Quigley
Art Blanchet

608-831-HOME (4663)

Microsoft Small Business Summit - Rieva Lesonsky

6 April 2007

(Reprinted from ActiveRain blog dated 22 March 2007)

The good people at Microsoft held their annual Small Business Summit this past week (it ends Friday March 23rd) - unfortunately I only had the time to catch 3 or 4 sessions online at my home in Madison, Wisconsin during the entire five days. I try to get more time in, especially when some of the sessions offered have nothing to do with Microsoft and plenty to do with business.

One of the speakers who gave a very animated and interesting presentation was Rieva Lesonsky - senior vice president and editorial director of Entrepreneur Media Inc. (Entrepeneur Magazine et al). Her topic was entitled Coping With Risk and she really delivered her message with energy, humor, and enthusiasm. She pointed out that the entrepeneur is by nature a risk-taker, and as such is going to make mistakes as he grows. And mistakes when you are small are not as brutal to your business, because you can always start over if close to the beginning. For emphasis, she cited this memorable quote from George Bernard Shaw, "A life spent making mistakes is not only more honorable, but one more useful than a life spent doing nothing." I gobbled that up and will definitely use it next time I fail to ask for directions when traveling with my wife. (Wish me luck.)

Rieva also spoke about making your risks small ones. When using technology such as word searches to penetrate a market, don't go up directly against the Big Dogs as their pockets are way to deep and they have name recognition. She said it is better to work the fringe markets, the areas where there is less competition so you can establish yourself, your reputation, and your client base more easily. Then let that success carry you into your bigger market. In her words, in the beginning, take the road less traveled (which is the excuse I can give my wife when lost).

In the Q&A session, Rieva recommended that the small business entrepeneur get a niche. She said to make your business personal - to do the little things the heavy hitters cannot or will not do. She also said to incorporate your business, and to work it full time. Participants were instructed to continue moving forward with their plans. As she put it, "Even if your on the right track, you're gonna get run over if you're standing still." I liked that one - so true.

My next blog (I hope) to report on Jennifer Laycock, editor of Search Engine Guide. She tells us How to Get a Higher Profile on the Web.

The Microsoft Small Business Summit will have all videos and audio archived for 12 months, but not until the summit has concluded for three days (rescission?). After that time, you can catch them all at www.sbsummit.com.

Art Blanchet

Bill Quigley

You and Your Debit/Credit Card - link here

Ocean View Follies: You and your debit/credit card

Came across this blog - not really a real estate blog - when googling credit info. The author takes a few minutes to cite some of the dangers and results of loss of credit cards or credit card into. Consumer rights and procedures were discussed in this brief, concise article.

If you like it, be sure to leave them a positive comment.

Thanks.

Mortgage Lessons Learned from Tiger Woods

4 April 2007

Reprinted form Tom Domin's Mortgage Marketing Toolkit article pages. As some of you may have figured out, I like Tom and his advice, tools, and helps. He asks what appears to be a more-than-fair price for his materials, but also gives away much for free. While his info is geared toward Mortgage Professionals, there is much in the way of truth for all pros here. I also like this article as I am a Tiger fan and enjoy the stats. (Art Blanchet)

A Valuable Mortgage Lesson Learned From Tiger Woods

Unless you've been living in a cave or under a rock the last few years, you've seen first hand how Tiger Woods has become one of the most dominate forces in men's golf.

We watched as he won the CA Championship at Doral Golf Club this past weekend by two strokes. Woods won this event for the sixth time, more than any other tournament. Tiger is believed to be the first player to win a tournament six times on six courses - in Spain, Ireland, Atlanta, San Francisco, London and Miami, the latter on a Blue Monster course where he has won the last three years.

There is no doubt we are witnessing the performance of a truly great athlete. His dedication and preparation is truly amazing. He finished at 10 under par at 278 and earned $1.35 million for his second victory of the year, and 56th of his career.

You're probably asking...Where's that mortgage lesson you talked about? OK...Here we go!

On every hole that Tiger plays (whether it is practice or sanctioned play) a gentleman follows Tiger closely...charting each stroke and documenting the results. He maintains a low profile and you would find it difficult to pick him out from the gallery that follows Tiger on every hole. He documents each hole, of each round, at each location that Tiger plays.

Just so you know, the gentleman's name is Hank Haney and he is the "Swing Coach" of Tiger Woods. Tiger pays Hank one million dollars a year plus expenses to perform this function. Hank Haney charts each stroke from tee to green, analyzes each stroke, and then recommends the appropriate practice to correct the problems that he may have noted.

Hank Haney doesn't organize Tiger's travel plans or make hotel reservations, and he doesn't chart the golf course (that's the job of Steve Williams, Tiger's caddie of six years). As a side note, Tiger pays Steve some 10% of all purse monies. Hank Haney gets paid to do just one thing...to be Tiger's "Swing Coach."

Today, most of the top pros on the tour employ a "Coach." We picked Tiger to underscore our point here: Why would a man so naturally talented and currently so dominating in his profession, be willing to invest such a huge amount of money into his game?

The answer is simple! He's investing in his business...his livelihood...and, his future. He knows that to stay ahead of his competition he needs to invest, or better yet...re-invest in his business at every opportunity. With tour earnings of $9.9 million in 2006...Tiger spent more than 20% of that amount to improve his business

I am always amazed by the number of Loan Officers/Mortgage Brokers who don't spend more than fifty dollars a year on their own professional growth. We're in a profession that's changing daily and by leaps and bounds, and most mortgage folks refuse to invest in their business.

There's no doubt, you began a strong mortgage career, and you really got into it - but then you fell asleep at the switch and forgot to do those basic things like read industry publications or new books by sales masters. You don't go to sales seminars. You don't listen to audios or view videos on sales-related topics. You don't have any paid subscriptions to newsletters that could improve your mortgage knowledge or capability. In short, you don't constantly re-invigorate and improve your business or yourself.

If you want to survive and prosper in the Mortgage Business today...you need to be a "Tiger."

************************************************************************************************

About the Author: Tom Domin has over twenty-five years of experience in Real Estate and Mortgages. Tom is the author of "101 Ways to Originate Mortgages" available at http://www.101WaysToOriginateMortgages.com/ and publisher of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter that is geared for Mortgage Professionals. You can sign-up by visiting http://www.MortgageMarketingToolKit.com

Copyright (C) 2007 Sunset Management Solutions, Inc.
All Rights Reserved.

Khaddafi and SubPrime Lending (humor)

3 April 2007

Now is the Time

The (fill in title here) ruler of Libya since 1969 is a man known as Moammar Khaddafy...or maybe Muammar Qaddafi...perhaps Mommar Gaddafi...or... ?? The truth is no one really knew because his name didn't transliterate very well into English. An article in the London Evening Standard reported 37 different spellings in 2004, which is odd because everyone had forgotten who he was a decade earlier, much less cared about how to spell his name.

Sure, we all could have referred to the Libyan leader by his honorific "Guide of the First of September Great Revolution of the Socialist People's Libyan Arab Jamahiriya" or even "Brotherly Leader and Guide of the Revolution" or my personal favorite - "Mo G" - but we couldn't reach a concensus as a public. So the chaos ran rampant.

The point is, this inability to communicate even the simplest of messages - a man's name - threw the nation's communication system into turmoil and wreaked havoc on every kid trying to write a term paper on North African Geo-Political Systems and Its Effect on Old World Economics (when spelling counted) throughout the 80's and early 90's. We are approaching such a crisis again.

We as Americans need to decide - once and for all - the spelling of the dreaded word being slaughtered by the media (forgive my presumption here), "SubPrime." Every headline, every article, every blog, every AdWord, every television network, and every legal writ or class-action lawsuit utilizes a different spelling of the word that has become a political hotcake (or hot potato(e), or hot-something). As Real Estate Professionals, it is not only our job to set the public straight, but our sworn duty as almost semi-public servants.

There is no need for protracted discussion on the matter (hold the applause). As we are Children of the Great Democracy, we will embrace our constitutionally guaranteed privilege of freedom - and VOTE!

By the power vested in this blog, I have pared the choices down to the following, most probable choices:

· Subprime

· Sub-prime

· SubPrime

· Sub-Prime

· Not Ready For Prime Time Mortgage

· Non-Prime

· Loans That Are Past Their Prime

· Sub-prime, as in not quite Choice or Select

· Sublime

· Substandard

· Subway (I was hungry when I wrote this)

· UnPrime

· Pseudo-Prime

· Quasi-Prime

· Semi-Prime

· Sorta Prime (a scam-artist special)

· Serta-Prime (this blog is making both you and me sleepy)

· Neo-Prime

· Nouveau-Prime

· Optimus Prime (did I mention the Transformers movie is coming out in July?)

· ShouldaPaidYourBillsOnTime-Prime

· Almost Prime

· I-Can-t-Believe-Its-Not Prime

· Psycho-Prime (insert own pun here_____________)

· Sign-Here Prime (another good scammer, the longer name follows)

· Sign-Here-Without-Reading-Prime

· Still SubPrime (After All These Years)

· SeemsLike Prime

· Silly-Prime

· Prime-Lite

· Biggie-Prime

The choice with the most votes - write-ins accepted - will be the OFFICIAL designation of the loans-that-people-with-good-credit-and-regular-employment-don't-get. If you cannot vote here (it's best if you don't), there are blogs across this Land of the Free that will need correcting comments.

Do your duty! Vote with your hearts, your minds, and your keypads. We will be a great people once again and make the world a more homogeneous place.

Thank you.

Avoid FREE CREDIT REPORT Scams - Here Is the Safest Way to Go

2 April 2007

The Feds have given you the right- by law - to receive a FREE annual credit report from each of the three credit repositories. The Fair Credit Reporting Act (FCRA) requires Equifax, Experian, and TransUnion- three credit reporting agencies - to provide consumers with a FREE credit report every 12 months.

There are three ways you can receive your own report:

1. Via a mailng addresss
2. By calling a toll-free number.
3. By visiting a specialized website.

Before we list the web address of the site, we want to remind you that there are many counterfeit websites out there hoping to cash in on this mandated option. They lure you in through careful online and print advertising - often through banks and credit card companies - using teasers and official-sounding names. There are sites all over Google and other search engines that are similar. Some sites take advantage of misspellings and sloppy typing to get your link. BE CAREFUL. You do not want your personal information in the wrong hands.

These "imposter" websites will allow you a free report, then upcharge for subsequent reports. While there are legitimate services who will monitor your credit for a fee, they are not a part of the FCRA system.

The authorized website is at https://www.annualcreditreport.com. ANNUAL CREDIT REPORT dot com. This website will ALWAYS open in a separate window. This I know from a letter I received when I requested a link to my website. It is their policy.

The SAFEST way to get to annualcreditreport.com is by linking directly through the Federal Trade Commission website. Despite popular media depictions and late night TV talk show rhetoric, the government websites appear to be considerably more secure than your average site. Linking is the safest way.

The FTC webpages about consumer credit are

here: http://www.ftc.gov/bcp/conline/pubs/credit/freereports.htm and

here: http://www.ftc.gov/bcp/conline/edcams/credit/index.html

You'll see the difference - one's more colorful than the other. Cuter. More pictures.

Now your credit report contains information about an individual's payment history, debts, legal matters such as judgments, collections, and bankruptcies. Your address and social security number - as well as employment history - is there, too. Safeguard that information.

Even if you are not buyinga home, refinancing, or making a credit purchase - major or minor - you need to should consider getting your credit report for these reasons:

1. To deter to identity theft - even if you aren't using your credit, you need to make certain no one else is, either. Identity theft victims find out when damage is done and the repair to name and credit costly and time-consuming.
2. To check for accuracy - approximately one-third of credit reports have errors. People with common last names (Smith, Jones, etc) and multi-generational family names (Jr, Sr, III, etc). Imagine what it's like in the Foreman household with George - boxer and grill champion - with all of his sons named George, too.
3. To monitor reporting- a simple error in payment date on a mortgage could delay a home loan closing for weeks while the error is being corrected - and rescoring, while possible, is expensive and requires an imposing burden of proof.

Remember, when going to the free credit report website, you will need to provide at least your name, address, Social Security number, and date of birth. Other information MAY be necessary, but understand it is all about confirming YOU as the subject of the credit report.

The phone numbers and address are in the bottom paragraph for your convenience, exactly as printed on the FTC website. You can use it, but if you're as wise as we believe, you will NOT take our word for it, but go to the FTC website instead. Your tax dollars at work.

Art Blanchet

Bill Quigley

To order, visit annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. The form is on the back of this brochure; or you can print it from ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually. They are providing free annual credit reports only through annualcreditreport.com, 1-877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

FSBO vs Realtor - The Truth Will Set You Free

31 March 2007

FSBOs are your friend. When you consider (depending upon the source) that about 70% of FSBOs are eventually sold by Realtors, there is a massive market out there. Can they be YOUR market?

One simple tool - one idea: You can help a FSBO with a CMA to help them price their home (per local real estate laws and guidelines) and in turn possibly become their Buyer's agent - they're moving somewhere.

We took this concept a little further.

We recently did an eight-show radio (WTDY) series of FSBO episodes that incorporated other industry pros (realtor, mortgage, attorney, HOW, title, whatever) instructing FSBO owners on how to sell their homes. We were sincere and focused and offered all the advice and marketing techniques at the disposal of our impromptu "team." Did we hurt ourselves in this market?

We doubt it. Ignorance can indeed be bliss - we painted a very real picture of pitfalls, responsibilities, costs, and obligations, yet we still encouraged. But people are people and each will respond differently to the info. Some might do it, some might be overwhelmed and call right for help away, and some might ignore us - but no one made any enemies by offering the help and opening a dialogue.

Consider yourself - how many self-help books do you read and how many do you REALLY follow?! Information itself use useless without implementation. FSBO sellers are no different.

We can embrace the FSBO and build relationships or we can consider them lost forever. Since 70% sell through somebody, that somebody could be you. Even if all the free info changes that to 60% or 50%, that's still a big fat opportunity.

If you send an email I'll point you to the audio archives (podcasts). Or catch a link on our home page. Or go to the player in the right-hand margin.

Art Blanchet

Bill Quigley

Home Ownership - Is It Really Only About Money?

30 March 2007

Monday, March 12th, the Wall Street Journal carried an article entitled "Why Your Home Isn't the Investment You Think It Is." In this article WSJ reporter David Crook focuses only on the financial aspects of owning a home, and not very positively at that. He quotes a large investment firm - competitors with the real estate market - touting investments over home ownership. Here are our comments:

Skewed for a purpose. The article was skewed for a purpose. Someone should tell Mr. Crook about a certain family we're currently working with that made their decision to buy because of their landlord's insensitivity. As is always the case, people vote with their feet - and these folks have voted to leave.

"Randy and Cathy N". were debating all the "tangibles" of home ownership - they'd owned before - with an emphasis on finances just like Mr. Crook. Though they had sufficient income, they had pretty much decided to put up with inconveniences of renting for an additional year in order to address some debt that were trying to eliminate. Cathy wanted a home for her family, but wanted a solid marriage more, so she backed off her efforts to force the issue, even when she knew they had to re-sign their lease for an additional year and would be stuck in their energy-eating duplex apartment once again.

The first to crack was Randy, a computer programmer who works out of his home for his second job - programming contract work. The family had often walked around in heavy coats this past winter - their first in the place - to save money on heating costs wasted through insufficiently insulated walls and attic. The fact that wind would drive snow drifts around the cracks of the front door - far from having been "plumb" in a couple decades - a foot or more into the living room could be ignored as it occurred infrequently. But when it became too cold to type, Randy jumped on the home ownership bandwagon. Can't type, then no money from the second job. No money, then what are they doing there?!?.

It was then that Cathy began to waiver. She had previously agreed with her husband, and so now was looking for reasons to stay put. So she called her landlady and tried to voice her concerns about the ludicrous heating bills, the front door, and certain exterior maintenance issues. She was actually laughed at when she told the landlady how cold they were - laughed at. Ignoring that - but keeping score - Cathy decided to pursue the maintenance question, and was brusquely met with am emphatic "no" there as well - too much money had been spent on that place already. "If you want cheaper utilities, you'd have to buy a new place," was the taunt, as if the N's would never be able to do THAT! So much for detente.

Then Cathy volunteered they were looking at a possible move; one which might not be accomplished by the time the lease was due for renewal. The landlady consented, in a demeaning way, that they could have one extra month to vacate because she thought she might be able to trust them. Just as the whole conversation, this statement was meant to diminish the lives of the Renters as insignificant and to establish all power over quality of life with the Landlady.

Within 15 minutes the N's were back on the phone with me, asking if the mortgage numbers we'd discussed would really work (they would). Within two hours their Realtor® (a Keller-Williams Agent, no less) was there writing an offer on a home the N's had visited earlier, a place where the power bills were a third of theirs now (great agent service got those numbers) - and the home wasn't much newer- it was just not a rental, either.

What Mr. Crook doesn't address - and the narrative above does - is that people buy homes to acquire level of life-control, to get a sense of autonomy, and for increased self-esteem. too. Even if his horribly skewed investment numbers and homeownership cost calculations were correct, people will not live like Third World citizens to achieve an obscure future. The Here and Now has significance as well.

Home ownership never used to be about investments, profit, and appreciation - these are recent perspectives. How many GIs returning from World War II, progenitors of the Baby Boomers, actually calculated how much home equity they'd have in 30 years? Was a home about money, or was it about things more important; like life and love and family?

All the tired old cliches about home ownership and dreams are real. Investment firms might be all about creating wealth, that is true. But Realtors® (and mortgage lenders, of course) are about creating lives.

And, as it almost always happens, the lives of most homeowners are filled with wealth of all kinds.

Art Blanchet

Bill Quigley (Reprinted from our ActiveRain blog: http://activerain.com/blogs/ranchexit)

KIVA Talk-A-Thon Called a Screaming Success

20 March 2007 - First Day of Spring

KIVATHON called a screaming success! TalkShoe (http://www.talkshoe.com) - our premiere podcasting relationship (and the place where you can find our archived radio shows) - staged a 24-hour KIVATHON from March 18th thru March 19th, Noon to Noon. The Your Home-Your Money radio Mortgage Guys - Bill and Art - hosted one of the hours and had a blast. The interactive podcast talkathon - the first of its kind - raised money and awareness for http://www.kiva.org/, the world leader in online microlending.

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You can go to http://www.kiva.org/ to see how it all works.

Microlending consists of giving small loans to (very) small businesses and entrepeneurs in developing nations, ones where the economy and regular banking do not allow the "little guy" to make it. The loans range from $250 to $1300 and will be paid back in 6 to 18 months. At KIVA.org the lender - you or me - invests in $25 increments and we choose the individuals, who are pre-screened, WE want to sponsor. (Don't have $25 right now? TalkShoe can handle smaller investments at their website - Look for the KIVA banner.)

It's fun and rewarding to see a business grow from nothing, especially in areas where women are little more than property and bank interest rates can be as high as 1000% (and you though YOUR interest rate was high!) Each lender gets a "home page" and the people you sponsor - along with their other lenders - are interlinked throughout. There are bargraphs depicting fundraising efforts and reporting the amount of money paid back as a percentage. That's right - lenders get PAID BACK - it IS a loan, you remember. We can then take our money out (we don't get interest) or reinvest in another business. Simple

You can also subscribe to our KIVA blog at http://activerain.com/groups/KIVA and stay in the loop.

Bill and I have our lender page at http://www.kiva.org/lender/YHYM, where you will see our two (so far) entrepreneurs at work. As of the writing of this blog, both Asia (Bulgaria) and Dilorom (Tajikistan) are now fully funded and working their businesses. Booyah!

This is an incredibly worthwhile venture. We urge you to get involved - or to find someone or something you want to help learn and grow and make a better life. Thanks for all you do.

Best wishes.

Art Blanchet

Bill Quigley

TalkShoe Aces LaPorte-MacArthur net@nite Test

Can't believe no one has yet commented on this momentous occasion - the inaugural net@nite program with Leo Laporte and Amber MacArthur! In my unlearned opinion, the event was a great success and certainly a feather in TalkShoe's cap.

There were hiccups, of course - you cannot be 100% ready for the unexpected, but to have a problem such as TOO MANY online participants is a welcome problem, it is rather a "challenge." Yet despite the minor quirks with the chat and interactive aspects, the sound quality was superb the entire TalkCast - some of the best I've heard. (Was that really Skye I was hearing carry Leo? - WOW!) My evaluation and all the praise was fueled today when I listened to a "webcast" that was complete garbage by comparison.

(Of course, true to form, within 24-hours TalkShoe came up with an emergency workaround just in case the problem reccurs - they seem to enjoy shaking up the status quo.)

It would be interesting to know how many of us were "chatting" and interfacing that way as compared to just the audio stream. When the phones were unmuted for the few seconds that listeners were invited by Leo to say "hello" a ridiculously huge number of voices responded in unfettered glee.

Congratulations to TalkShoe, Dave Nelsen, and his excellent team as they took a leap forward in redefining casting ("net" or "pod", your choice, but "Talk" works best here) and to Leo and Amber in their wisdom to "chime in". As a TJ (TalkCast Jockey) and fan, I'll keep listening, too. Thanks for the rich experience.

Art Blanchet (Your Home-Your Money)

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Your Home-Your Money Joins Forces With TalkShoe

YourHome-YourMoney.com Mortgage Radio Joins Forces with TalkShoe.com for Innovative Simulcast to the World

Talk Show Hosts Bill Quigley and Art Blanchet will be using TalkShoe’s unique software interface to reach a worldwide audience using everything but smoke signals and semaphore. The Mortgage Experts will make their consumer-friendly real estate and finance advice, talk, and discussion available through TalkShoe as live interactive phone, radio, and PC hookup, archived podcasts, and RSS feeds from their base of operations at AM Radio Madison 1670-the Pulse.

Madison, WI (PRWEB) August 18, 2006 -- Your Home-Your Money Mortgage Radio, a Wisconsin-based talk radio show airing weekly on Madison 1670-the Pulse, is taking their consumer-friendly message to the world through Talkshoe. Show hosts Bill Quigley and Art Blanchet (The Mortgage Experts), who discuss with their listeners "the things that matter second-most" in their lives, see the need to reach a larger audience and have partnered with TalkShoe as the perfect mechanism they need to do just that. Scheduled launch is Saturday, August 19th at 10 AM EDT and each Saturday thereafter.

Your Home-Your Money Mortgage Radio is well-supported in our local broadcast market. Our listeners enjoy the practical information we give, the interviews of real estate professionals, and the plug-it-in-to-your-life approach we take to our topics," says co-host and 16-year residential mortgage finance veteran Bill Quigley, "The most popular service provided is when we rewind the spin and deflate the hype about the housing industry as presented by advertising and media. We try to boil it down to a sensible level and find the public really appreciates that. But ugly experience tells us we need to reach many more people with our message and TalkShoe is the ultimate solution"

In addition to utilizing TalkShoe for their radio simulcast, the Your Home–Your Money Mortgage Radio hosts have been gearing up other live midweek shows using TalkCasts to reach their audience and interact with them. Co-host Art Blanchet, whose real estate career spans two decades, points out that, "TalkShoe allows non-tech types like me to participate in the podcasting phenomenon without having to deal with the headaches of syndication and complex RSS feeds – and of course the related (and often expensive) software and hardware normally needed. We can create new shows (episodes) that meet the specific needs of our audience, but TalkShoe also allows and encourages their input and opinion. We have several new projects in the works and see the potential to really make a difference in people’s lives. We like that."

TalkShoe likes the relationship and enjoys the challenges live radio presents as well. "The Your Home-Your Money show is great show that’s made even better using TalkShoe’s service," said Dave Nelsen, TalkShoe’s President and CEO. "Bill Quigley and Art Blanchet are at the leading edge of Internet technology." This partnership of solid information and distributative technology will help both Your Home-Your Money Mortgage Radio and TalkShoe get their message out in a useful and easily-accessed way. Their show is at http://www.talkshoe.com/talkshoe/web/talkCast.jsp?masterId=1009

About TalkShoe:

TalkShoe has a wide variety of pre-recorded and live shows (called Talkcasts) available on its website. Anyone can listen, and anyone can become the host of their own Internet talk show. What’s more, people can make money hosting Talkcasts. TalkShoe is located near Pittsburgh, Pennsylvania and can be reached at 724-935-TALK (8255) or go to http://www.talkshoe.com/ and to the contact page.

About Madison 1670-the Pulse:

An industry leader and impact player in Madison, Wisconsin’s broadcast Talk Radio market, Madison 1670 hosts relevant local and prominent national shows for its listeners. Always striving to reach its public, Madison 1670 podcasts select shows and feeds live audio streams for PC listening. More information is at www.wtdy.com.

About Bill Quigley and Art Blanchet:

Bill and Art Co-host the weekly radio program Your Home-Your Money Mortgage Radio and other internet media projects. They also provide real estate mortgage loans and private consultation through their Middleton, Wisconsin-based Capital Mortgage Advisors company – specializing in tough-to-place borrowers with adverse credit histories. Pluggin in http://yourhome-yourmoney.com/ gets you there.

Independence Day 2006

Happy Independence Day!

May this July 4th celebration bring you fun and family - fireworks and frankfurters!

As we enjoy the celebration of America's birth, let us always have gratitude for the rich freedoms we experience each day of our lives.

Please remember those who secure our liberty through their sacrifice - past, present, and future.

God Bless America!

Bill and Art - and our families.

Condo Buying? You Gotta Know this First

Condominium Purchases - There are Rules!

There is a uniqueness to the condominium purchase that affects Builders, Sellers, and Borrowers alike. Here are some questions, answers, and considerations...

Homeowners Insurance: This is covered by the Condo Association's master policy. Even in small, two-unit condominium associations (yes, they exist) the amount of the Fees, or Dues, must at least cover the costs of insurance to the structure per lender standards. Otherwise, borrowers do not need homeowner's insurance as the condo is owned by the association.

This said, be aware the condo owner is responsible for everything inside his/her unit's perimeter walls. Just like it is a wise choice in SFR homeownership, getting content insurance - akin to renter's insurance in scope - is a personal necessity. When calculating those DTI (debt-to-income) ratios, homeowner's insurance is not added as a factor (but association dues are).

Condo Association Dues: These are fees charged to the condominium owners on a per unit basis. These fees/dues cover the cost of structure insurance and maintenance of the condo grounds (mowing in the summer - snow clearance in the winter, for example).

The fees need to be adequate to consider a few unforeseeable events (wear and tear, landscaping, roof repair, etc) and for other common areas available to all residents/owners. If your condo maintains a pool and/or a workout club, your fees will be higher than associations without these.

And the association dues must cover the master insurance policy, too.

***Association fees are always figured into your DTI ratios.***

Other Considerations: Lenders also consider other factors when making a mortgage investment decision. With new construction, traditionally 75% of the units must be presold before any closings can take place. So if you are looking at a 40-unit condo, 30 must be presold for you to close on yours.

(There are very special exceptions to these rules - and Capital Mortgage Advisors has access to these variances and investors - lenders - that enable numbers as low as 30% presell. We are lowering that number daily as we beat the bushes for better sources)

Rental units can be a serious issue to lenders. There must be a large percentage of owner-occupied units - usually 75% - to 90% to allow conventional funding. The lenders don't want to be involved in glorified apartments called condos - historically speaking, it's a bad risk for them.

Now comes the issue of Warrantable vs Non-warrantable condominiums. In a nutshell, a Warrantable Condo has been run by the Association for at least 2 years and is mostly owner-occupied. It is site built and NOT a conversion. The interest rates and terms are best on Warrantable condos as they are underwritten by Fannie Mae. The borrowing process is smoother.

Non-Warrantable condos include recent conversions (from apartments), developer-run or unit-owner (association) run for less than two years. Loans are tougher to get - mostly paperwork issues - and terms can be shorter and/or rates higher.

You'll hear the terms Type I, Type II and Type III: Lender stuff that qualifies the property. I've included a table below that outlines Warrantable and Non-Warrantable as well as "Types". It's a snoozer, but relevant and informative.

(Please note, however, that the Mortgage Experts at Capital Mortgage Advisors have some terrific financing programs that can shame the so-called competition, including great investment <non-owner occupied> loans that can sweeten your deal!)

Thanks for contacting us about your condo needs.

We have a significant variety of condominium financing programs that are designed to smooth out the finance transaction.

By providing for the specific needs of Builders, Sellers, and Buyers when dealing with the regulations and lending guidelines for these unique homes, we have the tools and knowledge to help all parties reach their ultimate goal - a completed stress-free sale.

Please explore our website, grab some free information, and then contact us via email or 608-831-HOME (4663) with any questions you may have. Thanks.

Condo Types and Definitions Condominium Projects are Grouped into Three Areas Outlined Below Type I: NON-WARRANTABLE Developer’s control of the homeowner’s association has not yet terminated. Project may be subject to phasing or add-ons, which have not yet been completed. All common elements and amenities must be fully installed, completed or in operation. 70% of the units in the entire development must have been sold and/or legally obligated to close. 70% of all units in the entire development must have been sold to owner occupants. Maximum single entity ownership, 10% Type II: NON-WARRANTABLE Recent or current condominium conversion (from apartments.) Homeowner’s association has been controlled by the unit owners (other than the developer) for less than two years. Project is not subject to phasing or add-ons which have not yet been completed. All common elements and amenities are fully installed, completed and in operation. 70% of the units in the entire development must have been sold and/or legally obligated to close. 70% of the units in the entire development must have been sold to owner occupants. Maximum single entity ownership, 10% Type III: WARRANTABLE Homeowners Association has been controlled by unit owners (other than developer) for at least two years. Project is not subject to add-ons. All common amenities are fully insured, completed, and in operation. 90 % of all units have been sold (owner –occupancy of at least 60%). Maximum single entity ownership, 10%