YOUR HOME AND YOUR MORTGAGE-HOW TO MAKE SURE YOU ARE STANDING ON A FIRM FOUNDATION

What does standing on a solid foundation in your home and with your mortgage mean to you? I will be covering some techniques you can use to determine truly your maximum comfort level on a house payment and down payment when you go to buy your home—because it is NOT all about how you feel. Dan Brenner of Redeemers Group foundation repair will be covering how you can tell if you have a foundation problem in your home and how to prevent some of these problems.

Let’s stay in touch! Subscribe at www.JoGarner.com to get our weekly podcasts and show notes. Let us know what part of real estate interests you.

To Your Success,
Jo Garner, Mortgage Loan Officer (901) 482-0354 jo@jogarner.com
Apply online at https://jogarner.evolve.mortgage
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LET’S GET STARTED

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. Thank you to Chad Irwin, Memphis Mortgage Manager at Evolve Bank and Trust for sponsoring this episode of Real Estate Mortgage Shoppe. If you are looking to ratchet up your mortgage career and have fun doing it, give me a call at (901) 482-0354. Our general topic is YOUR HOME AND YOUR MORTGAGE-HOW TO MAKE SURE YOU ARE STANDING ON A FIRM FOUNDATION. What does “standing on a firm foundation mean to YOU?” Call us while we are live at (901) 535-9732 Today is February 17th, 2018.

HERE’S TODAY’S CONVERSATION

INTRODUCING DAN BRENNER OF REDEEMERS GROUP

Dan Brenner of Redeemers Group, this is your first time on Real Estate Mortgage Shoppe? Dan is the sales manager at Redeemers Group and I believe you joined them around 2015. Dan, you help to recruit, train, and support the System Design Specialists in their day to day activities. Tell our audience a little more about yourself and what Redeemers Group does to serve your customers. (Dan has about 1 minute to introduce himself and talk a little about what Redeemers Group does to serve customers )
(Jo) Dan, I know during this show you are going to share with us how to determine if our house may have a serious foundation problem. You are going to talk about the effects this rainy weather is having on our home’s foundation too.
WAYS TO KEEP YOUR HOME FINANCING ON A FIRM FOUNDATION
For now, let’s look at some ways to keep your finances on a firm foundation.
1. How do you know the maximum house payment that will work for your budget?
The first bit of wisdom for a happy life in the book Integrity-based Communications by Shelley Baur comes with instructions to “tell your truth quicker and faster.” To get to the truth of what you can really afford each month for a house payment, comes with the “B” word—Budget—YOUR OWN budget.

Some of the financial gurus online and in books, in general, will advise you to keep your total house payment under 25% to 28% of your gross income. Your total house payment for budgeting purposes includes principal and interest, taxes and insurance, and any required mortgage insurance or association fees.

These same financial gurus will recommend that your total house note PLUS all of your other debt like car loans, personal loans, credit card payments, student loan payments, and other installment or revolving credit payments, should not exceed 38% to 40% of your gross income per month.

Here is an interesting fact. Neuroscience seems to support the fact that we as humans make decisions based on 90% emotion and only 10% logic. In an article published by MIT Technology Review in 2014, neuroscientist Antonio Demasio relates research done on people who experienced damage to the area of the brain that controls emotions. Without the ability to feel emotions, these people experienced difficulty making decisions not involving clear, logical courses of action. Decision-making in humans is largely based on emotion and not logic.

Before you jump into buying a house, consult with a certified, licensed financial advisor and your tax professional. These professionals can advise you after studying your specific financial details. Buying a house can be one of the biggest investments you will make in your life, and this investment can affect what your financial life will look like. Take a moment to consult with the pros. Consulting with the pros will help you employ a larger degree of logic.

We can come back to more on keeping your financing on solid ground, but how do we keep our homes on a firm foundation?
(Dan launches into some of his topic until the 9:15 break and then picks

2nd segment after 9:15 break: Our Look Back Memphis Trivia Contest is brought to you by notable Memphis historian, Jimmy Ogle. Jimmy Ogle offers free historic walking tours downtown in the spring and fall. For information about Jimmy Ogle, go to www.JimmyOgle.com . The Look Back Memphis Trivia Contest is sponsored by John and Jennifer Lawhon of Lawhon Landscape (901) 754-7474 the Lawhon’s can help you plan your landscaping if you have a BIG, BIG project or a smaller project . The Lawhons are giving away a $25 gift card to the first person with the correct trivia answer. If you know the answer to our trivia question, call us at 901 535 WREC 901 535-9732.
Garner # 121 02/17/18

Grace-St. Luke’s Episcopal Church
Question: I currently consist of two parishes that merged during the 20th century. Who am I?
Hint: I am a Midtown church with a window designed by a very famous designer.

Hint: In 1974, my parish was the largest of its denomination in Tennessee.

Hint: In 1981, my parish was the first parish in the State of Tennessee to ordain a female

Final Hint: My merger was complete in 1940 and I serve Memphis at that location today.
Answer: Grace-St. Luke’s Episcopal Church. The history of Grace-St. Luke’s dates back to the mid-19th century with the establishment of Grace Church in a rented room in what was then on the eastern outskirts of the city, now Midtown Memphis. St. Luke’s Church was established in present-day Midtown in 1894 in a building designed by English architect John Gainsford. By the late 1930s, Grace Church had a strong congregation, but found itself without a building. St. Luke’s Church, on the other hand, had erected a new church in the heart of residential Memphis in 1912 (its present home). The two merged, and celebrated its first service as the Parish of Grace-St. Luke’s on Thanksgiving Day, 1940. The parish continued to grow and, by 1974, had doubled in size and was the largest Episcopal parish in the state of Tennessee.
Grace-St. Luke’s emphasis on inclusivity dates at least back to 1981, when the parish ordained the first female in the state of Tennessee. The Rev. Ann Carriere was ordained deacon at Grace-St. Luke’s on July 12, 1981 by Bishop Fred Gates in a nave packed with parishioners, ecumenical Memphis clergy, and community members who had followed the news in the media.
Grace-St. Luke’s cares for a magnificent Tiffany stained window that dates back to 1900, and six other defining windows from the turn of that century. That year, one of the benefactors of Grace Church, Mrs. W. A. Gage, met a representative of the Tiffany Glass Company at the Paris Exposition. She personally underwrote a signature window depicting Christ’s ascension to be hung above the altar. Louis Comfort Tiffany personally supervised its installation.

Jimmy Ogle gives free outdoor walking tours on the sidewalks and parks in Downtown Memphis during the year, with the next being The Judge D’Army Bailey Courthouse Tour at 12:00 noon on Thursday, March15 (meet at the steps at the Southwest Corner, Second & Adams). Weekly TUESDAY TOURS begin on April 10. Go to jimmyogle.com for more information.
IN-STUDIO CALLER: JOE THORADSEN, HOST OF THE FIX-IT-UP SHOW @600WREC Fix-it-up guy Saturday mornings AM 600 WREC 901 535-9732

TOPICS COVERED BY DAN BRENNER:

Topics:

Intro- perhaps have Dan explain his role in training the guys that are the ones that come out to inspect what the issues are at a property and how to propose the correct/permanent solution.

1. Rainy season and the affect it has structurally
Jo: We are in a rainy season right now. How does that affect people’s homes?
Dan: (Focus on structural) Discusses how the ground swells and foundations begin to settle. Symptoms of structural issues begin to appear….

2. How long people wait to address structural issues
Jo: You mentioned to me that people tend to wait a really long time to address structural issues. Why do you think that is?

Dan: Jo, thinking you have a structural issue with your home can be really unnerving if
not scary. Some recent research says that, when people call us, only 36% of
them have had the problem for a year or less. Another 36% have had the issue for 6-10 years, and the other 28% for more than 10 years. So, when people start noticing cracks in drywall or the brick on the exterior, they patch it for the time being and wait and see what happens.

Jo- interjects thoughts and asks how this affects the actual repair when it does happen.

Dan discusses how the longer you wait to address the problem, the more time and cost it will take to address it, and the difference in what the results could be.

Jo: Clint has talked before about the difference in stabilizing a home versus lifting it back to level. Does how long you wait to address a settling foundation affect how likely it is to lift it back to level?
Dan: (concept)Discusses 1. Yes, it is harder to get aesthetic results that are desired the longer it has been settling and 2. That stabilization is always what we guarantee and lifting to level is a secondary “hope.” With the punctuation that there’s a better chance to lift to level if it is addressed in a timely manner.

3. INC 5000 etc.
Jo: You guys (Clint) were with us in June of 2017 on the show and at the time we had talked about some awards the company had received in early 2017, but that hasn’t slowed down has it… I understand you’ve received some pretty big ones since then?

Dan: We have, and it’s something we continue to be really proud of the team we have and what we are doing to redefine our industry. We were very fortunate to be named to the Inc. 5000 list of the fastest growing companies in America at #1249. When you look at how that breaks down..we were the 17th fastest growing company in TN. It’s exciting, really. We do things the right way; our purpose is to redefine our industry, and we are making headway on that.

Jo weighs in.

4. Love Well 5k & Festival
Jo: I know this is something you do each year… I believe there is a different Memphis-based beneficiary each year, and the date is coming up soon. Tell us what is going on.
Dan: Coming up on Sat March 3rd we have our 3rd annual Love Well 5K & Festival which is a charitable event- this year it is benefitting Serenity Recovery Center here in Memphis. My understanding is that you are a sponsor this year-thank you for that. We do this for 2 reasons: 1- to raise money for an organization in Memphis that is fighting the good fight and who’s name isn’t a household one. 2- We want to shine a spotlight on addiction issues and specifically the opioid crisis that exists in our country right now. It’s huge and its impact devastating. Is this can raise awareness for even one person on how they can get help, who they can turn to, or how a parent can help their child, then we have fulfilled the purpose for this event. We’d love for you to join us on March 3rd on the beautiful greenway in East Memphis.

Jo’s comments..
There are ways for anyone and everyone to participate: you don’t have to be a runner! There is even a designated last place finisher so you don’t have to worry about that. Walk, run, set up as a vendor if you sell something, just come be one more voice against this epidemic.
The event website is www.lovewell5k.com
The event is also on facebook so you can check it out there and share it with your friends.

4. Homeshows
Jo: So, I know that you guys go out to a lot of area shows to display and talk with people who are experiencing the kind of problems that Redeemers Group addresses.

Dan: We do; this is a busy season for different home shows. Today, for example, we have Terrissah at the Home Builders of Little Rock at Verizon Center in Little Rock, Arkansas and The MidSouth Sport and Boat show at the Agricenter here in Memphis.

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TOPICS COVERED BY JO GARNER:

2. How do you know the maximum house payment that will work for your budget?
The first bit of wisdom for a happy life in the book Integrity-based Communications by Shelley Baur comes with instructions to “tell your truth quicker and faster.” To get to the truth of what you can really afford each month for a house payment, comes with the “B” word—Budget—YOUR OWN budget.

3. What is a quick and easy way to come up with a budget?
There are plenty of books and apps you can access to complete a detailed budget. Call me if you succeed in through detailing out a massive budget for yourself. I will be happy to send you a gold star.

Most people I talk to do not have the time or desire to slog through a complete history of the income and spending for the last year. I have seen some succeed in doing a “quick and dirty” look-back on income and spending to put together a realistic budget.

Here is the “quick and dirty” version: Pull up in front of you the last 3 months income statements or paystubs. Calculate you gross income and then deduct out the deductions and expenses subtracted from your income before you put the money in the bank. Look at your yearly W2s or tax returns and, if your income is about the same as last year, make a close estimate on what you income will be this year divided by 12 months.

Pull up your checking accounts and your credit card bills. Go through and add up into categories how much you are spending each month and for what items. Then try to remember bills you pay only once a year or every 6 months like your car insurance, car tags, subscription and membership dues, and vacations. Total these and divide by 12 months to determine your spending. (You are going to be surprised where your money has been going.) Now, you are ready to calculate what you will be comfortable paying on a total house payment each month.

4. How do you know the maximum down payment to put down on a home?
The financial gurus have been known to estimate that for most regularly salaried stable employed people, a good rule of thumb is to keep about 6 months living expenses always available in savings for emergencies. For self-employed and 100% commissioned people, keeping an emergency fund of at least one year of living expenses is acceptable.
Once you have assessed how much you have available (and borrowing on a credit line does not count for emergency funds,) now you can determine how much is available for a down payment to purchase a home. In order to get the house you want AND keep your emergency fund intact, you may need to look for some down payment assistance loan programs or pull out your shovel and dig for some gold. I know where to help you dig to find money you didn’t even know you had.
But you have to talk with me personally so that I can work with you personally. You can apply online if you prefer at https://jogarner.evolve.mortgage or call me the old fashioned way (901) 482-0354.
5. What kind of insurances can help protect your financial foundation?
What good is all the hard-earned wealth you have accumulated if, in a split-second auto accident you lose everything because of a lawsuit? What good is the equity you have sweated to build in your home if your home is demolished in a tornado or fire?

Consult with your insurance professional or maybe two or three from other companies to get an idea of what types of insurance you need and how to get the coverage at the best price.

Here are a few to consider:
A. OWNERS title insurance (in addition to the lender’s title insurance you normally pay at closing when you buy a home.) Owner’s title insurance is usually very inexpensive, only paid one time at closing, and covers you for the value of your home and not just the unpaid balance on the mortgage in case someone tries to prove the title chain was bad and they say they own your house. The owners title policy pays the off and gets them off your back.
B. Homeowners insurance. Be sure you carry enough liability insurance too.
C. Flood insurance
D. An umbrella policy to cover you for enough to cover all of your assets
E. Long-term and short-term health insurance
F. A good health insurance policy
G. Car insurance with enough liability to protect your assets
H. Life insurance
I. Types of business insurance

6. Who do you need on your team?
Want to save yourself a heartache and devastating financial losses?
Depending on the size of the transaction, having reputable, experienced pros on your team, can minimize the chances of you losing money and going through a heartache when you buy your home or refinance your home.

A. Realtor
B. Mortgage Loan Officer
C. Title company or closing attorney
D. Home inspector
E. Insurance Agent
F.
7. TIPS TO THE WISE:
A. The Federal Reserve is still talking about continuing to raise their rate several times over the next several months, which will probably cause the rates on home equity lines, credit cards and other variable interest rates to go up taking the payments up with them.

If you want to look at combining your variable rate loans and lines into one low fixed rate mortgage, give me a call. I want to hear your plans so we can work your plan. If these variable rates continue to go up, you might just look back on your action to tie all your interest down into one fixed rate and pat yourself on the back. It is a good feeling to know you have made a smart move to protect yourself from loss.

B. If your financial situation should change suddenly putting you in a bind, don’t panic. Assess your resources and your liabilities. Consult with a financial professional. There IS a solution for EVERY challenge.

REAL ESTATE TIP OF THE WEEK

(Dan shared a real estate related money-saving or time-saving tip): Some of the very best bargains on the market today are houses with some sort of foundation problem or anomaly. Have someone like Redeemers Group check it out. The costs to repair may be minimal compared to the large bargain you get on the reduced home price.
If you are a seller, it’s a good idea to get a home inspection to see what it would costs to fix a foundation problem before you put your house on the market and have to sell it at a large discount when getting the problem fixed would have brought a lot more profit if you had fixed it before listing it.

ANNOUNCEMENTS:

Talk Shoppe offers free networking & education to anyone interested in real estate or in business. Talk Shoppe meets every Wednesday 9A-10A CT at Pino’s Palette 8225 Dexter Rd Cordova, TN 38018. This Wednesday February 17th, 2018 David Altizer of SOS Systems presents “Keeping Your Computer Safe in 2018.”
Talk Shoppe events are free thanks to advertisers like Marcus Fors, owner of Puroclean of Memphis. Cleans up and restores your home from water damage, smoke and fire damage, mold and bio hazards (901) 237-2040
Thank you to Tim Gilliland, of www.BackupRX.com in Hernando, Mississippi for keeping Talk Shoppe data secure with your data backup and recovery service. Tim can keep your business on a firm data foundation.

2. The Redeemers Group Love Well 5k & Festival is on Saturday, March 3rd at 8:30 am to benefit Serenity Recovery Center. Run, walk, volunteer, donate, fundraise, or be a vendor. Go to lovewell5k.com.

3. Thank you to Chad Irwin, Memphis Mortgage Manager at Evolve Bank and Trust for sponsoring this episode of Real Estate Mortgage Shoppe. If you are looking to ratchet up your mortgage career and have fun doing it, give me a call at (901) 482-0354.

4. FOR THIS PODCAST OF REAL ESTATE MORTGAGE SHOPPE AND MORE, GO TO JOGARNER.COM
5. Real Estate Mortgage Shoppe reminds you that MAKE YOUR PLAN. WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.
SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY.

QUOTE CORNER:
Anonymous “You can’t live in our basement. Your brother already beat you to it.”

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REJOINDERS:
1. Steve Richmond, Genworth Private Mortgage Insurance Raleigh-Durham, North Carolina “That MI Guy”
2. Sherry Fincher, Evolve Bank and Trust Bank Branch Manager West Memphis, Arkansas
3. John Dancy, Memphis, TN Auto Appraisal Group (901) 343-2684
Transitional Music:
Solid Ground by Sidney Barnes; theme from Bob the Builder “Can We Fix It?”; “I Feel The Earth Move Under My Feet” by Carole King “Memphis” by Johnny Rivers
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ABOUT DAN BRENNER, REDEEMERS GROUP

Title: Sales Manager
Hometown: Memphis, TN
www.RedeemersGroup.com
(901) 458-3424

Hey there! I’m Dan…
I joined the Redeemers Group team in 2015 as a Sales Manager. In my role, I recruit, train, and support the System Design Specialists in their day to day activities. You might also find me at your house taking a look at the issues you are trying to correct. As part of the management team, I support our owner, Clint Cooper, in the planning and execution of the long term strategies of the company.
When I’m not at work, I spend most of my time with my wife and kids. I enjoy coaching the kids sports teams and spending time outside. I love good food, music, and like to travel to see friends and family. Lastly, you could very easilly find me cheering on the Tigers or Kent State! (I am a Kent State alum!)
It may sound cliche, but I am here for our customers and to help make your overall experience as positive as possible. if you are reading this and need anything, please call me!

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ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOU WANT TO ACCOMPLISH WITH YOUR MORTGAGE?
www.JoGarner.com (901) 482 0354 jo@jogarner.com twitter @jogarner NMLS# 757308

“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 20 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 20 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 She was also the editor of Power Shoppe, a free weekly e-zine designed for real estate professionals and others indirectly connected to

P: (901) 482-0354 | E: Jo@JoGarner.com

P: (901) 482-0354 | E: Jo@JoGarner.com

YOUR HOME AND YOUR MORTGAGE-HOW TO MAKE SURE YOU ARE STANDING ON A FIRM FOUNDATION

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