2nd Mortgage: How To Get Started Or Restarted In Your Mortgage Business.

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How to Get Started or Restarted in Your Mortgage Business

Whether youre new to the mortgage business or been sitting on the sidelines for a while this is a great time to get involved and jumpstart your mortgage business.

The U.S. housing market is still encouragingly active.thirty year interest rates although fluctuating are still below ..home equity interest rates have risen enough to force many folks to refinance and eliminate the higher rate line of credit.and over trillion dollars in adjustablerate mortgages are ripe for conversion in the months ahead to other mortgage products.

Heres what you need to do

. Make a list. Yes.you need to make a list of everyone you know. Youve heard this before.the moneys in the list.and its absolutely true. Make sure that you have their address phone number and email address if possible plus and any other information you may have about them.

. Send a personal letter to each of them. Tell them that you are now in the mortgage business and you are ready to help them any way that you can. Automate your list on your computer to make this function as easy as possible.

. Followup a few days later with a phone call. Reintroduce yourself and your business. Ask if they have any questions about credit andor mortgages. Ask questions that help you fillin the blanks and take lots of notes. Offer your private number cell phone number in case they have any questions.

. Send a hand written Thank You note expressing your gratitude for the time they spent with you and the information they provided. Very few people use Thank You cards today.youll be remembered for using them.

. Send holiday cards birthday cards postcards articles and informative industry information each and every month there after. Youll eventually be accepted as an expert and trusted advisor because of the valuable information that you continue to provide.

. Never stop building your list. Set a personal goal of adding new contacts each day and then follow the same steps for each addition to your list.

This is the beginning of your database and your new mortgage business. Maintain your list update it and continually add to it. Handled correctly your database will result in mortgage referrals every month. The larger your database the more referrals youll receive.

By effectively using your database maintaining an exceptional service level and keeping your name in the forefront of your contacts mind.you have a great chance of generating business right away.

Keyword:
Mortgage Business Mortgage Referrals

2nd Mortgage: Saving Money On Your Mortgage.

Video: Refinance Mortgage Information

Shopping around for 2nd mortgage is so popular these days that many people can be excused for thinking that switching lenders is the only way to save money on your home loan. But there is a much easier way that does not require phone calls computers connected to the internet or trips to your bank or building society.

Did you know for instance that making overpayments on your mortgage can slash thousands of pounds off your interest bill Additionally it will cut the length of time taken to repay your home loan so you get to own your home sooner.

Imagine say that you have a repayment mortgage with a year term and an interest rate of . Your monthly payments will be and after years you will have paid back a total of . In other words you will have paid back . for every pound borrowed.

If however you were to overpay your mortgage by just each month your total payment would be reduced to a saving of over sixteen grand in interest. Furthermore this overpayment shortens the length of the mortgage by months which means almost four extra years of bliss.

Its is worth being prudent though and ensuring that your will not be penalised by your lender for changing your standing order or making overpayment. In the main most flexible mortgage lenders will allow you to make overpayments of up to each year. But if your lender doesnt allow this you have another trick up your sleeve

Lessening the term of your mortgage from years to years would increase your payments in exactly the same way as overpaying by each month. Mind you this is a much harsher way to do it because payments are fixed. However it doesnt prevent you from increasing your term again should you need to by simply writing to your provider.

At the end of the day paying off your mortgage early is simply the best and least risky ways of saving money. By making overpayments to your mortgage of around your money would be working harder than if you had invested it into a savings account with earnings. for a basicrate taxpayer. For a higherrate taxpayer this riskfree and taxfree rate is equivalent to which is practically unbeatable

Many people forget that even though we sign up for a year mortgage term there is no earthly reason why we have to stick to this. If you have any extra cash each month using it against your mortgage can make a huge difference and it can save you thousands of pounds in interest each year.

Good luck on removing that mortgage millstone from around your neck

Keyword:
Internet Repayment Mortgage 2nd Mortgage

2nd Mortgage: The Mortgage Business Is Changing.

Video: HELOC Details - No Second Mortgage

Refinances are down new home sales are off lenders are closing their doors loan programs are being eliminated and credit requirements are being tightened.its no wonder were not quite as optimistic as we once were.

Its against this backdrop that your online mortgage presence and Internet marketing takes on a whole new importance. There is mounting evidence that if you are not on the Internet bandwagon and if you cant be found by people searching for mortgages on the Internet you are completely missing the boat in the mortgage business.

Many of you have told me I just dont get that involved with online marketing. Ive been very successful the traditional way for many years. Heres my response.My sincere congratulations on all of your past success and my profound empathy for the frustration you will suffer in the months and years ahead as your prospects leave you at the station while they board the express mortgage train called the internet.

Here are a few points about this trend to the Internet that you should ponder

Both Search Engines and web sites are considered referrals and trusted sources by those doing the search. Being directed to your web site by organic search engines is a valid referral just as a phone call is or a referral from a friend or associate. People consult Google Yahoo MSN and AOL with inquiries and their most delicate questions over a billion times a week If Internet referrals constitute a trusted source shouldnt you be one of those trusted sources

The Internet is alive and on duty and you would be amazed at what time of day or night people search for homes and mortgages. In contrast the morning newspaper is usually in the trash by dinner time.

Supporting the proposition that newspaper readership and advertising is not as important as it used to be consider these facts In every age group newspaper readership is down. In the age group less than of people read a newspaper. Even in the age group only slightly more than of people read the newspaper. People are turning to the Internet in staggering numbers.

Many publications including the New York Times are transitioning as fast as they can to Internet publication and advertising as they fear for the future of traditional newspapers in America.

Keyword:
Refinance 2008 2nd Mortgage