Want to know how to counter the trend of insurance companies denying your homeowners insurance claims or trying to cancel your insurance? Check out this Real Estate Mortgage Shoppe podcast with
Host #JoGarner #MortgageExpert (901) 482-0354
Co-host: #EDHILL #MastersRoofing (901) 273-6594
Also featured #BrettCarter #servicemasterbycornerstone (901) 832-6005
#TroyMcDonald #LynnMcDonald #homeinsurance (901) 849-7101
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes www.JoGarner .com
LET’S GET STARTED…(Jo) (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 Originator. You can connect with me at www.JoGarner.com. Our general topic Homeowners Insurance Claim Denied? Insurance Policy Cancelled? Tips From Experience Today is August 3rd, 2024 Call us in the studio while we are live at 901 535-9732
INTRODUCING Ed Hill of Masters Roofing
(Jo) Our special guest on Real Estate Mortgage Shoppe today is Ed Hill of Masters Roofing in Bartlett, TN Ed has been a roofing consultant since 2008 and oversees the roof replacement and repairs to make sure they are done right. Ed Hill has about 1.5 min to intro himself and talk about the services he offers)
(Jo) My dad was an Allstate Insurance agent for most of my growing up years. My mom had a house rule that we all ate breakfast and supper together every night. No matter what else was going on, my parents, my sister and I came in at around 6pm to eat supper and talk about our day. That is how I heard so many stories and learned so much about insurance.
Here are a few stories I have seen online and in the mortgage office.
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In an attempt to cash in on his property and automobile a homeowner lit them both on fire. He did not receive money, but did receive five years in federal prison for insurance fraud.
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One of my mortgage clients was a real estate investor who had just finished fully renovating one of his investment properties, so the house had been vacant for about a month. It was winter and the temperature dropped into the teens which caused the pipes to freeze and then burst. When my mortgage client filed his insurance claim, the claim was denied because he failed to read the fine print that said if the property is vacant for over 30 days, he was required to get vacancy-home insurance. He had to foot the bill the second time to redo the renovations on the home
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An insurance company denied a claim for damage, from excess steam, caused by a malfunctioning washing machine. After taking legal action and pointing out to the judge, steam is a form of water, the homeowner won the case.
What is YOUR insurance story?
Insurance Claim After Several Weeks & Lots of Help From My Friends
Ed Hill of Masters Roofing and Troy and Lynn McDonald of Erin McDonald Insurance Agency helped me get my insurance claim fully paid last year when two branches punched two gaping holes in my home’s roof.
Luckily I had a deluxe full replacement cost insurance policy that is not offered today. I had not filed a homeowners claim in over 20 years. I thought, “This should be easy to get this paid.” It was NOT easy.
Ed Hill sent his expert over to climb on my roof and take pictures, and take notes. My insurance company sent their adjuster and my insurance denied my claim.
Ed Hill and Troy and Lynn armed me with the knowledge and proof that my shingles were over 15 years old and not manufactured anymore. Tennessee requires insurance companies to replace the whole roof, if matching replacement shingles can’t be obtained.
After many calls and many letters, more pictures of damage, and Ed Hill sending my insurance company a sample of my shingles. I finally got my roof replaced and the insurance company paid the claim. These experts and those who go the extra mile for their clients, are the experts YOU need when you are dealing with an insurance claim or policy cancellation.
Mortgage Companies Require You Keep Insurance on Your Home …Or Else…
Mortgage companies require borrowers to maintain adequate homeowners insurance on the mortgaged home. If the homeowner loses his insurance policy or it is cancelled, the mortgage company will initiate a forced placement insurance policy to cover the mortgage company. Forced place insurance can be extremely expensive, so do not let your homeowners insurance lapse on your home. 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.
(Jo) Ed Hill of Masters Roofing has learned more than a thing or two about understanding how the insurance companies work these days (Ed Hill can give a preview or start launching into some of his topics until the 9:15 am break)
OUTRO: You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. What do YOU want to accomplish with YOUR mortgage? I can make the mortgage process EASY for you with the right mortgage. Connect with me at JoGarner.com When we come back, we will be hearing more from Ed Hill of Masters Roofing. We are also hoping to hear from Brett Carter of Servicemaster by Cornerstone -fire, flood and bio-hazard remedi.
_____________ TALK SHOPPE BUSINESS TIP FOR REAL ESTATE PROS
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 sponsor, Brett Carter of Servicemaster by Cornerstone. Brett every person I know who has used you and your services has given you an A+ for cleaning up their home or office after a fire, flood, or bio disaster. Brett Carter of Servicemaster by Cornerston, what is our Talk Shoppe Business Tip For Real Estate Pros.
Brett OFFERS TIP
Brett Carter , how do we contact you? 901 624-9200
TOPICS COVERED BY ED HILL OF MASTERS ROOFING IN BARTLETT
CALLERS: TROY AND LYNN MCDONALD OF ERIN MCDONALD INSURANCE AGENCY
901 849-7101
Jo Garner, Licensed Mortgage Loan Officer NMLS# 757308
What do YOU want to accomplish with YOUR mortgage?
901-482-0354 direct. Jo@JoGarner.com
For mortgage tools order the book “Choosing the Best Mortgage-The Quickest Way to the Life You Want” by Jo Garner
on Amazon and Barnes and Noble
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Sent from my iPhone
3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
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Mortgage companies require you to carry adequate insurance to cover your home in case of damage. The minimum insurance is to cover the amount of the mortgage balance. Mortgage companies want full replacement costs. Deductibles cannot exceed a designated level.
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If you have a mortgage and you let your homeowner’s insurance lapse, you are in for a nasty surprise. The mortgage company will slap an enforced insurance policy on your that can costs three times more than the insurance policy you allowed to lapse. You mortgage payment increases and sometimes you have to pay lump sums to pay down the deficit that spikes in your escrow account.
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If you have damage to your home and get money from the insurance company, check the names under Payable to: If the check is simply written to you, the homeowner, then use that money to pay contractors and for repair supplies.
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When you need a low policy amount in order to qualify for the mortgage, try bundling your car and other assets with your homeowner insurance. It can make the portion of insurance covering your real estate very affordable. If you can afford a higher price insurance policy, but the mortgage guidelines are restricting your debt ratio, consider buying the bigger coverage policy later on after you have closed on your home.
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Lynn’s story about “when in doubt, assume it is a racoon and not a squirrel in your attic” Rodent damage mad like squirrels, are not generally covered by insurance
A LOAD OF DIRT SAVES HOMEOWNER THOUSANDS & KEEPS HIM OUT OF FLOOD ZONE
SWOKNEWS.COM
Nathan Nengerman had his heart set on buying the house close to where he grew up. This was the house of his dreams and he had scraped and scratched to keep the balance in his bank account up and the debt balances on his credit report down. He was intent on buying this home.
The loan looked good at first until the appraisal came back. The appraisal showed that part of the house was in a flood zone. Being forced to get flood insurance would make the payment too high for Nathan to qualify on the mortgage. It looked like the dream contract was about to die. But, Nathan was not going down without a fight.
The mortgage processing team ordered an elevation study through the FEMA program. The elevation study showed more specifically that the flood zone was in part of the lawn and only one edge of the house. Nathan would still be forced to buy flood insurance, UNLESS, he could permanently change the landscape somehow to divert the water.
Nathan connected with a landscaping company that his mother knew. They reviewed the elevation study and the flood map and suggested building up a berm to divert water further from the house. It took a few extra days to get the berm built and for the house to be declared out of the flood zone.
Nathan scored multiple bragging rights on installing the berm. He was able to avoid having to pay flood insurance. He planted the berm with groundcover plants and some beautiful flowers and a few herbs too.
Best tips for getting you home owner insurance claims & avoiding cancellation
(pulled from chatgpt)
Getting a home repair insurance claim paid in 2024 involves several key steps to ensure a smooth and successful process. Here are some best practices:
1. Review Your Policy:
• Understand what is covered under your policy, including any exclusions or limitations.
• Know the deductible amount and any coverage limits.
2. Document the Damage:
• Take detailed photos and videos of the damage immediately.
• Make a list of damaged items, including descriptions and estimated values.
3. Contact Your Insurance Company Promptly:
• Report the damage as soon as possible.
• Provide all necessary information and follow the claims process outlined by your insurer.
4. Keep Detailed Records:
• Maintain a record of all communications with your insurance company, including dates, times, and names of representatives.
• Save copies of all correspondence and documents submitted.
5. Get Professional Estimates:
• Obtain multiple repair estimates from reputable contractors.
• Provide these estimates to your insurance adjuster to support your claim.
6. Mitigate Further Damage:
• Take necessary steps to prevent additional damage to your property.
• Keep receipts for any temporary repairs or mitigation efforts, as these may be reimbursable.
7. Cooperate with the Adjuster:
• Be available for inspections and cooperate with the insurance adjuster’s requests.
• Provide any additional information or documentation promptly.
8. Follow Up Regularly:
• Stay in regular contact with your insurance company to check the status of your claim.
• Keep a log of your follow-up communications.
9. Be Prepared to Negotiate:
• If the initial settlement offer is lower than expected, be prepared to negotiate.
• Use your documentation and estimates to support your case.
10. Consider Professional Help:
• If you encounter difficulties or feel your claim is being unfairly denied, consider hiring a public adjuster or an attorney who specializes in insurance claims.
11. Review Payment and Repairs:
• Once your claim is approved, review the payment details carefully.
• Ensure that repairs are completed to your satisfaction and according to the terms of your policy.
By following these steps, you can increase the likelihood of getting your home repair insurance claim paid promptly and fairly.
What do YOU want to accomplish with your mortgage? I can make the mortgage process EASY. Connect with me at www.JoGarner.com
4th segment following 9:45 am break about 9:48 to 9:56 am
REAL ESTATE TIP OF THE WEEK
Ed Hill has about 1.5 minutes to share a real estate tip : If you get a cancellation notice from your insurance company, send a copy of the letter to Ed Hill right away. Once he reviews the contents of the letter, he can put a plan together to act quickly and appropriately to try to satisfy the insurance company so they cannot cancel your policy.
Jo Garner’s mortgage tip If you are shopping for the best mortgage, make sure you get an official good faith estimate from each company. Send these estimates to me at my mortgage desk. We can compare details on the cost break down. Some companies charge a huge fee for processing the loan or an admin fee so they can afford to say they are changing points to the lower-than-market interest rate. I probably do NOT have the huge admin fee the competing mortgage is charging you, otherwise I could offer the lower-than-market rate with zero points also. You have to compare all the line items. I can help you do that before you make your decision on which mortgage company to choose as your lender.
Connect with me, Jo Garner,licensed Mortgage Loan Officer, at JoGarner.com (901) 482-0354.
ANNOUNCEMENTS:
Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. Talk Shoppe meets every Wednesday 9A-10A CT at Concorde Career College 5100 Poplar Ave 1st floor Memphis, TN (Clark Tower).
Go to www.TalkShoppe.com and click the Events tab for the link to get into the event online. This Wednesday August 7th, 2024 9AM CT
This Wednesday Attorney Mark Field of Evans Petree Law Firm will be presenting “How to Use Intellectual Property Laws to Protect Your Business”
www.talkshoppe.com/upcoming-events
Talk Shoppe is free to you because of the generosity of our sponsors like Leah Anne Morse of All Things New—a moving company complete with organization professionals.
Contact Leah Anne Morse of All Things New. Leah Anne and her expert crew can help you organize your move, pack your stuff, move you locally or across the country. They can help you organize your new home as you unpack. Leah Anne and her crew can make the move a positive experience. 901 488-9733.
3. Here is a shout out to Yates at Yates Electric in Menphis for your great service and affordable cost for home electrical work If you need electrical work done at your home or office, call Yates at Yates Electric at 901 351-7470
5. Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.
6. subscribe today for weekly podcasts with show notes at www.JoGarner.com
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. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS.
QUOTE CORNER:
“Fun is like life insurance. The older you get, the more it costs.” Kim Hubbard
REJOINDERS:
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Pat Goldstein, Realtor with Crye-Like Realtors in West TN and North Mississippi 901 606-2000
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Mark McLaurine of Refrigeration Unlimited 901 216-7782
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Sherry Harbur of Harbur Realty (working with real estate investors) www.HarburRealty.com
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Transitional Music: “
“Chasing Tornadoes” by MacKenzie Porter; “Running Bare” by Jim Nesbitt; “You Can Count on Me Like 123” by Bruno Mars; “taking care of business” by bto
PICK UP YOUR COPY OF “CHOOSING THE BEST MORTGAGE-THE QUICKEST WAY TO THE LIFE YOU WANT” by: JO GARNER
An essential guide for real estate professionals and their customers.
Now on Amazon and Barnes and Noble
ABOUT ED HILL OF MASTERS ROOFING
Ed Hill has been in the residential roofing industry since 2008 and has been Senior Consultant with Masters Roofing Memphis TN since 2010. He has personally assisted about 800 homeowners with roof replacement and many others with roof and exterior repairs. He is an active member of the Greater Memphis Business Network International chapter and is the official Masters Roofing consultant to TPC Southwind. He holds three earned degrees including a doctorate but tries not to let those get in his way of serving his customers! For free roof advice, free inspections, and free estimates and bids for roof replacement or roof repair call Ed Hill at 901-273-6594. Learn more at #EdHillMastersRoofing and at MemphisHomeMaintenanceShow.Podbean.Com
Ed Hill, Senior Consultant
Masters Roofing
2845 Stage Center Cove
Bartlett TN 38134
901-273-6594
EdHill.MastersRoofing@gmail.com
TN State Licensed Contractor #00067521/ Reciprocal Licenses MS & AR
BBB A+ Accredited Member Business
Platinum Preferred Contractor Owens Corning / GAF Master Elite Installer
Guild Quality Member / Angie’s List
www.EdHillMastersRoofing.webs.com
Podcast https://MemphisHomeMaintenanceShow.podbean.com
You Tube Channel: Ed Hill Masters Roofing
http://Instagram.com/EdHillMastersRoofing
www.Facebook.com/EdHillMastersRoofing
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
(currently working with Everitt Financial dba Supreme Lending)
ONLINE LOAN APPLICATION : https://jogarner.supremelendingLO.com
“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 helping her clients find the right mortgage program and making the refinance or home purchase mortgage process EASY. She offers conventional, FHA, VA or other loan programs for primary residences, second homes and investment properties.
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 30 years. She grew up in West Tennessee and got her start in real estate 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 30 years.
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 Pick up Jo Garner’s book on Amazon or Barnes
Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”