We are going to look at what is causing this trifecta of opportunity we are experiencing and take a look behind the scenes to see how different people are using various strategies to  get some high fives and bragging rights on freeing up thousands of dollars.  What can you do differently in your life plan, if you gave yourself a bonus every year with a few hundred per month saved or several thousand over the next few years.

What do YOU want to accomplish with YOUR mortgage?  Let’s explore some mortgage angles that will help you get where you want to be.     Let’s stay connect!  Call me at (901) 482-0354 Jo@Jogarner.com  Subscribe to get Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner.com 

To Your Success,

Jo Garner, Mortgage Loan Officer NMLS#757308 (901) 482-0354 Jo@jogarner.com



Good morning Memphis!  Welcome to our internet listeners and podcast listeners across the 50 states! You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer.  You can connect with me at www.JoGarner.com.   Our general topic is High Home Values, Hot Housing Market, Low Mortgage Rates, How Long Will It Last? Today’s show is sponsored by real estate attorneys Rob Draughon and Shelley Rothman of Griffin, Clift Everton and Maschmeyer.  For your home purchase or refinance give Rob and Shelley a call at (901) 752-1133. Subscribe to get Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner.com  Call us while we’re live today August 1st, 2020 at (901) 535-9732.

Tom King, our real estate appraisal expert is back in the co-host chair.  Tom you have over 40 years experience appraising real estate in the Shelby County TN, Tipton and Fayette Counties.   Tom you have a very up close and personal view of what is happening with our home values and what we should expect in the near future.   (Tom has about 1 min or so  to introduce himself and talk about what he does for his appraisal clients.)

(Jo) I was listening to some market gurus discussing the future of our real estate and mortgage market.   Corelogic forecasts that home values will go down 6.6% over the next year.   But, Ivy Zelman a national housing research expert believes that our home prices will go UP 3% by the end of this year.  She does say that what happens after the end of the year will depend on our employment numbers and the situation with mortgage forbearances under the current CARES ACT which will soon end.   We are living in a golden time of opportunity right here and now.

An example of why it is important to explore your mortgage options Now why we have this Tremendous Trifecta of Mortgage Rates Low, Home Values High and in a Hot Housing Market.

Calvin and Courtney Collinger’s story (not their real names) Mr. Collinger called me and he said, “ I listen to you on WREC when you are talking about how much a simple restructure on a mortgage can change someone’s life and save them thousands of dollars.  But I always thought our mortgage rate wasn’t bad so I never called– until today.”

He went on to say that he and his wife had children late and life and now they are looking at faced with a two-part dilemma of wanting to help their two children financially while they are in college. BUT they ALSO want to retire in a little over 10 years with some savings and a paid off mortgage.  Calvin and Courtney talked about ways they might be able to afford to achieve both goals, but there was no extra money to get around these two challenges. They just thought there was nothing they could do to change those facts.

But, what this family did was so brilliant.   The Collingers took some time and we looked at some refinance options that could lower their payment by over $500/month.   Their mortgage balance was quite a bit lower than when they had gotten the loan 10 years before. The answer for the Collingers decided was to refinance to a 15 year loan and since the rate was so much lower than the one they had. They could now save over $500/month which would allow them to help their children in college.  AND, when their children graduated, they could apply all of the $500 savings per month to pay off the mortgage.  Ten years down the road when Calvin and Courtney were ready to retire, their mortgage would be PAID OFF.   Calvin kept saying how amazed he was that the answer to get over TWO challenges was just one simple restructure on his mortgage.    MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY.   Connect with me at www.JoGarner.com. Email me at Jo@JoGarner.com  or just call me at (901) 482-0354. 

Tom, I have never seen a market like we are in now in all of my 30 years in the mortgage business.  I can remember people saying to me, “if only the rates were lower, and if only I had more equity in my house and if only homes were selling fast, I could do this or that…”    Well, that time is now –at least for now.   What are YOU seeing happening with our home values?   What is YOUR opinion of why we are seeing this very unusual market situation? Tom talks about what he is seeing in the market and the reasons for these market conditions…

You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Officer.  What do YOU want to accomplish with your mortgage? Make your plan. Let’s work your plan if the deal works for you today, let’s do it today.   When we come back Tom King of Bill King Appraisal Company will be giving more insight to how you see your home values.  We will be introducing our featured guest Miranda Griffin, Wellness Coordinator for www.HealthyMidSouth.com  with some simple tips to keep you healthy


2nd segment after 9:15 advertising break – (producer  to start the song “Taking Care of Business” by Bachman Turner Overdrive –but bring the volume down before the lyrics start) It’s time to talk shop with Talk Shoppe’s Business Tip For  Real Estate Professionals. Talk Shoppe is a marketing company offering free education and networking to anyone interested in real estate or in business. Talk  Shoppe is made possible by the financial support of its sponsors and advertisers. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe)  For our Talk Shoppe Business Tip today we have Talk Shoppe sponsor Miranda Griffin, Wellness Coordinator at www.HealthyMidsouth.com- Improving Lives One Step at a Time.  Miranda has quite a personal testimony of how healthy eating can bring a positive turnaround when challenged with sickness. You can learn something new from Miranda regularly at Talk Shoppe. So Miranda Griffin, please share our Talk Shoppe tip and help our real estate professionals and other listeners so we can stay healthy.?     (Miranda has about 1.5 minutes to share some healthy tips )

Miranda, how do we contact you?  www.HealthyMidSouth.com   

Tip #1

True or False?

You are what you eat?

It’s not rocket science!!!

Think about it. What you literally put in your body will do something.

You put the right healthy food, herbs, spices, grains, protein, juices, milk etc. in your body, then good things happen.

They will process through out your system either feeding your body to continue to fight off sickness and disease as well as fuel it for it’s optimum performance or it will do the opposite. Bad things will feed a disease or sickness and tear your body down. It truly is that simple. Where the average person has difficulty is choosing better habits. Our taste buds want that tasty southern fried food and the great American white diet of pastas, potatoes and breads. It is so easy to make good choices but on the flip side our bad habits are easy to do as well.

Bottom line, tip for today is to be mindful and think about your choices. As I always say, “Every choice you make is and investment in you. You’re all you’ve got and you cannot traded yourself in for a new one.”



  1.  Tom, please give us a broad overview of what you are seeing in our local real estate market when it comes home values and trends of people buying and refinancing.
  2. Explain some of the economic reasons we are seeing low rates, high home values all going on in a hot real estate market. 
  3. Talk about what kind of sanitizing protocol you need to use when you go into home to appraise it.

(Tell story about the lady who met you at the door with shoe covers and gloves)

  •  What type repairs do you suggest be handled before an appraiser comes out to your home?


  1. What are your mortgage customers doing right now that is giving them an advantage in our current real estate market?

To prepare for ANY  market—foul or fair—the smartest things  a homebuyer or mortgage customer can do, in my opinion, is to get the payment in a comfortable range, keep plenty of emergency funds too.  And surround yourself with resourceful people who can help you later if your circumstances should become more challenging. 

Two Basic Types of Refinance Mortgage Customers

  1. For the benefit of our podcast listeners, today is August 1st, 2020.   There are two basic camps for people who are refinancing and walking away with big-time bragging rights.
  2. Free Up Cash-The first camp are the homeowners and families whose ultimate goal is to free up cash every month by refinancing to a much lower rate and taking the loan back to a 30 or 20 year fixed rate term. 

The free-up-cash goals for these families may be to reinvest wisely the money they are saving each month into places that can build them wealth or  a safety net.

There are some mortgage clients that may even combine their higher rate first mortgage and second mortgage and credit card debt into one very low, very fixed rate mortgage.   By getting the other higher interest rate debt combined into one low rate over 20 or 30 years, some clients have freed up over $1,000 per month.   

Let me share with you an example of someone who used this impressive strategy:

Mr. Jones not his real name.) Mr. Jones and his wife had a good jobs but his wife got sick and had to quit her job.  The income in the household dropped but not the bills. As Ms. Jones’ health deteriorated, she ended up in the hospital and then needed around the clock care. Mr. Jones had to cut back on time he could work on his job and his own income dropped. Unfortunately, Ms. Jones never recovered and passed away. 

Late one afternoon I picked up my phone and it was Mr. Jones on the other line. He told me his story.  When the income dropped in their household, he said he had no choice but to start using credit cards and now was paying over 15% interest and the owed balances kept compounding higher because he could only pay the minimum payment.  He also told me they had amassed mountains of medical debt.

He and his wife had paid down their mortgage over the years and only owed about 25% of the value. The mortgage payment was really high though, because they had refinanced it a few years ago to a short 15 year term, hoping to have the mortgage paid off before they retired. The mortgage payment in Mr. Jones’ situation, was choking the life out of him.

We looked at several scenarios and Mr. Jones decided on this one:

He refinanced his mortgage back to a 30 year term with a lower fixed rate to    get the payment as low as possible.  He rolled the biggest part of the credit card debt, especially the cards with the exorbitantly high interest rates. By consolidating his high debt payments all into his new 30 year mortgage by refinancing, he lowered his monthly payment by about $750/month.

Mr. Jones then set up a small monthly payment plan with the medical collection companies.  He used some of the $750/month savings from refinancing his mortgage to wipe out even more debt.  Now he was seeing light at the end of his tunnel.

By setting up a plan to systematically pay off his debt, he figured that in less than 5 years when the biggest part of his debt was paid off, he could start paying all of the $750/month that he was saving and start prepaying his principle on his mortgage so he could still pay off his mortgage early.  

My client, Mr. Jones, was enjoying some hero status with other family members because of the steps he took to overcome what seemed to be insurmountable odds. Not only did he quickly get his debt back under control but he was still going to get to pay his mortgage off early. 

  • The second camp are the homeowners whose ultimate goal is to get rid of debt sooner starting with shortening the mortgage term.  This is especially beneficial when you can use the low mortgage rates to knock off a few years off your mortgage term without raising the mortgage payment you are already paying.  A perfect example of homeowners getting these bragging rights are people like Calvin and Courtney Collinger whose story you heard earlier in the show.

Two Basic Types of Home BUYERS

  •  There are two basic camps of homeBUYERS right now taking advantage of this market. 

Move-Up Buyers-

  1. Taking advantage of this double opportunity of having more equity than ever in their own homes and the lowest rates in our history.  These buyers are selling their current homes and moving up to the nicer, bigger homes with the pool and the community where they thought they might never get to live –at least not this soon.

Here’s another example:  Maynard and Marlene Mueller (not their real names) had yearned to move for a couple of years now to a more upscale neighborhood where some of their friends live.  But the price tag on the monthly note would have been $800 higher than what they were paying then on their current home.  That plan was insanely out of reach for them in 2018. 

However, this year the Muellers considered the deep dip in the mortgage rates TOGETHER with the simultaneous spike in their current home value. Now they finally could make the positive pivot to the bigger, beautiful home.     They sold their current home at top price and took the $300,000 net profit and put it down on that more upscale home with a $200,000 higher price tag. Their payment was a little higher than they were paying at the old place, but making this transition today with lower rates compared to 2018 made the $300 bump in payment very affordable–a happy day for the Muellers.

Buyers Adding Real Estate To Their Net Worth

  • These homebuyers are often first- time homebuyers buying their first home or investors buying their 2nd , 3rd or fourth home. 

First-time Homebuyers-The key for first-time homebuyers are generally to buy a home with an affordable monthly payment and not a lot of cash out of their pocket.   There are plenty of down payment assistance programs and special zero to 3% down loan programs out there too.   The next priority for first-time homebuyer mortgage clients is to make sure they have multiple exit strategies that would help them make a profit even if he housing market turned down.  Call me and let’s explore some strategies YOU can use to get that peace of mind when you buy your home that you never have to feel stuck.

Investors- This is also a great opportunity for real estate investors to get out and start buying homes to use for rental income.   Make sure you buy where you are making a nice positive cash flow up front.   Like a business, you want your rental income producing properties to make YOU money.  Call me and let’s explore some ways to help you get started –even if you start small and build your portfolio gradually over time.

Talking about investors and setting yourself up to come out on top, even if the market conditions go to a bottom,  reminds me of a former client—a very successful real estate investor who started out small, but ran into hurdles that were bigger than him.  Here’ how Wallace Winton overcame hurdles that could have sunk him financially and one hurtle that could have taken his very life.

About 15 years ago, Wallace Winton (not his real name), worked hard at a job to    provide for his family.  Every day as he worked, he yearned for a life he could see in his mind, but was financially  way out of reach. Wallace started attending a local real estate investment association and became friends with some of the investors there.   He put some experienced people from his network on his team and jumped out to buy 4 homes that year, all of those homes earning a positive cash flow. He combined his skills with resources other people had to offer-like private financing, wholesaler leads to money-making rental properties.

  Over the first 7 years, Wallace put a plan in place and acquired 55 rental properties, some of them fixer-uppers that he renovated and kept for income. He had so much income that he no longer had to work a job.  

It was not a leisurely walk to the path of success for Wallace, though.  Just as Wallace was acquiring his first few income-producing properties, he was suddenly slammed with a serious illness that forced him to pull away from buying real estate and just rest and recover for a couple of years.   Then—BOOM– real estate market crashed. Financing dried up.  Then the market spiked again. 

Here’s Wallace Winton’s secret for surviving well -no matter what happens in life or in the economy–Wallace tenaciously stuck with his plan, tweaking it to adjust to what the real estate market was demanding at the time. He nurtured his friendships and kept up his association with the right real estate professionals and the smart use of his resources, Wallace powered through with his plan and, today he and his family are enjoying their abundant harvest.

REAL ESTATE TIP OF THE WEEK (Miranda Griffin, Wellness Coordinator of www.HealthyMidsouth.com shares another health tip 

Tip #2  from Miranda Griffin, www.HealthyMidSouth.com

Dog days of summer can easily dehydrate you.

Are you getting enough?

Drinking Water Helps Maintain the Balance of Body Fluids. Your body is composed of about 60% water. The functions of these bodily fluids include digestion, absorption, circulation, creation of saliva, transportation of nutrients, and maintenance of body temperature and so much more!

Adequate hydration can:

– Reduce the oxidative stress

– Significantly affects energy levels and brain function

– Can aid in weight loss

– Helps with constipation

– helps the muscles 

The bottom line

Even mild dehydration can affect you mentally and physically.


Sleeping Deprivation can create havoc in one’s lifestyle

The benefits of having 7 to 9 hours of sleep can literally change one’s life. 

It helps your heart and your brain. It reduces stress and inflammation. It improves your memory and makes you more alert. It aids in weight loss and healing of the body.

So when you hear someone say they will sleep when they die, keep in mind not having enough sleep can lead just to that. #GetYourRest


Talk Shoppe offers free networking & education to anyone interested in real estate or in business and health and wellness. Talk Shoppe meets every Wednesday 9A-10A CT virtually in our awesome location.  Go to www.TalkShoppe.com click on he Upcoming Events tab and then click on the zoom web link to join us every Wednesday.  This Wednesday  August 5th, 2020 Kelly Inman of Next Day Access will be presenting “Home Modifications For Aging In Place” 

Talk Shoppe events are free thanks to advertisers like Pat Goldstein, Realtor with Crye-Leike in West TN and North Mississippi.  Pat is called “The Gold Standard in Real Estate.”  For expert help with the sale or purchase of your home, call Pat at (901) 606-2000

Talk Shoppe also thanks Peggy Lau and Kurt Lau of Dream Trips.  Peggy and Kurt can show you how to take 5-star vacations at a very bargain price or even free. You can travel on your own or with a fun community.   Contact Peggy at (901) 289-0747

2. Thank you to real estate attorneys, Rob Draughon and Shelley Rothman of Griffin, Clift Everton and Maschmeyer for sponsoring today’s episode of Real Estate Mortgage Shoppe.  Are you thinking about buying a home or refinancing one?  Give Rob and Shelley a call at (901) 752-1133



4. Subscribe at www.JoGarner.com and you can get our weekly blog posts with podcasts conveniently in your inbox.   



Outofstress.com   The Good New is …Nothing Last Forever.  And now the Bad News….Nothing Last Forever



  1. Mark Loden, Monthly Budgeting Specialist from Germantown, TN (901) 624-0052
  2. Nita Black, business strategist from Bartlett, TN www.901ELearn.com
  3. Eric Eurich, Kaizen award-winning business coach with Focal Point Business Coaching (901) 340-9558

Transitional Music: “Pay Attention” from Sister Act; “Any Way You Want It” by Journey; “You Make My Dreams Come True” by Hall and Oates’ “Taking Care of Business” by BTO for the Talk Shoppe Business Tip for Real Estate Pros




                 Miranda Griffin is a native Memphian with deep Southern roots.

Her journey from being diagnosed with RA & Lupus about 6 years ago, to getting off all 8 of her medications until now has placed a burning desire in her to share with others that it is never too late to start getting healthy.

In the past three years she has teamed up with other local healthcare professionals where they educate small groups, schools, churches, library’s and businesses simple steps for a healthier lifestyle and longevity.

Understanding that you cannot thrive without your health and you cannot enjoy life if you are sick or have a debilitating illness or disease.

She always says 

“ invest in you you’re all you’ve got!”

(901) 859-2410


Tom is a well- respected and sought after appraiser in Memphis, Tennessee.  He is a second generation appraiser with 40 years of experience.  He has been elected to the Memphis Area Association of Realtors Board of Directors three times.  

Tom is a certified residential appraiser in Tennessee.  He have appraised over 20,000 homes in his career.  A graduate from the University of Tennessee with a degree in real estate, Tom is also a Certified Relocation Professional (CRP).  Tom also has vast experience in dealing appraising real estate for pre-listing sales, cash buyers, divorce settlements, estate settlements. (901) 487-6989




www.JoGarner.com    (901) 482 0354  jo@jogarner.com  twitter @jogarner  NMLS# 757308 (currently working with Sierra Pacific Mortgage, Inc)

“Whatever YOUR  personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on  hitting your goals .”

As a mortgage loan officer, my job is to help you get to the  benefits you want from your financing terms.  What is most important to you? I can help you find the financing terms that will help you get to what you want.   What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

 Different clients have different priorities in life—some are buying their first home with very little down payment funds.  Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

 Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country.  She offers conventional, FHA, VA or other loan programs for refinancing and purchases. 

Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home  purchase financing.  

Jo Garner  has been in the real estate/financing business for over 25 years.  She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine  and was personally mentored in San Diego, California  by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge. 

On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate.  In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 25 years.  Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients.  

In addition to her work in the mortgage field, Jo Garner  is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com  Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.JoGarner.com