Que’ Bueno and Good Morning Memphis on this Cinco de Mayo! You are on the Real Estate Mortgage Shoppe program with me Jo Garner, Mortgage Officer with Evolve Bank and Trust. With us in the studio we have Holly Swogger, Holly Swogger – Investor with Homevestors. And we have our telephone hotline guest from Florida……… Attorney Chris McClatchey,.

Our topic today is “Buying Real Estate With Nothing Down

Here’s some ideas for starters— In the news this week the job market report was TERRIBLE. The silver lining in the cloud? Mortgage rates went down even more because investors poured their money into Treasury bonds–the ones that back mortgages so mortgage rates dipped down even further.
The benchmark 30-year fixed-rate mortgage fell to 4.05 percent, compared to 4.09 percent the previous week. The benchmark 15-year fixed-rate mortgage fell to 3.25 percent from 3.28 percent the previous week, and the benchmark 5/1 adjustable-rate mortgage fell to 3.02 percent from 3.03 percent.
Did you know, its cheaper to buy a house than rent one in many areas around the country–especially in Memphis!
It’s also cheaper to refinance today especially on a program that does not require an appraisal. The HARP program for underwater borrowers helps homeowners who are underwater but have a good mortgage payment history. The HARP program is especially for those owe more on their home than their house is worth.
If you want a free evaluation to see if you qualify for the HARP program or any OTHER program, let’s talk after the show on my direct line (901) 482 0354 or check out my blog at www.mortgageloansblog.com
If you have an FHA government mortgage and want to refinance on the FHA streamline with no appraisal, FHA has some great news for you coming up. They are lowering the upfront FHA mortgage insurance upfront and monthly.
More good news– buyers who have good credit, stable income, little debt and an acceptable down payment seem to be jumping off the fence as they realize this is their chance to buy low, There are plenty of down payment assistance programs out there too and other strategies you can use to buy a house with little or nothing down.
Speaking of little or nothing down, Holly Swogger from Homevestors (We Buy Ugly Houses) -let’s get Chris on the line to talk to everybody…..
Question 1 for Chris: How can I buy a real estate property with nothing down? …….
Question 2 for Chris (Kevin and Holly to ask the questions of Chris

Questions for Jo Garner to answer : Where do you find down payment money for your borrowers?
Question for Jo Garner to answer: You were talking about the special government HARP program earlier. We interact with real estate investors everyday. Is the HARP program with no appraisal available for residential investment property too?
Question for Jo Garner to answer: You work for a traditional bank. Do you have nothing down financing programs at Evolve?
Real Estate Tip of the Week: on podcast
Chris shared a little about how to get nothing down real estate deals:

Today we have a special guest on the phone all the way from Florida, Investor and Attorney Chris McClatchey, Chris is our featured guest at MIG this Thursday May 10th and all day on Saturday for a special workshop on May 12th. Chris will be teaching us, among other things how to find and do “No Money Down Deals.”

Chris studied and became an attorney, that is a pretty lucrative career, how and why did you make the switch into real estate?

So you do no money down deals. I can tell you that the number one questions that our members are asking today is where to get the money, sounds like you may have found an answer, tell us about that.

Give us an example of a recent deal you did with no cash out of your pocket.

You write in your course that you have to get creative to get the deal done, we have talked about that on this show before and it is so true, especially in today’s market. Can you talk a little about that?

You really have to listen to what sellers are saying. Can you talk about some of your techniques you use to get folks talking to you because this is a hard and scary thing for folks new to real estate to start doing.

In your course you have a section called “quick turn for the long term” and you talk about the velocity of money and how to really make your money work for you. Tell us about that.

You also have a Massive Action Plan or M.A.P. where it seems you have outlined a step by step guide with a lot of forms and checklists.

Jo Garner Evolve Bank & Trust 6070 Poplar Ave Ste 100 Memphis, TN 38119

If you are interested in buying real estate for nothing down, call me at (901) 482-0354 Jo Garner, Mortgage Loan Officer at Evolve Bank www.MoneyShoppe.NET If you want the best terms on a home refinance call me. We have the HARP and other refinance programs you can use all over the country.