KEEP IT SAFE AND SOUND-YOUR HOME AND YOUR MORTGAGE TERMS
Good morning, Memphis! Good morning to those of you listening on internet radio across the 50 states. You’re on Real Estate Mortgage Shoppe and I’m your host, Jo Garner, Mortgage Loan Officer. Connect with me after our broadcast, about your mortgage needs, by calling me personally at (901) 482-0354 or if it’s more convenient, email me at jo@192.232.195.219 or connect with me by going to www.Jogarner.com. If you have any questions or comments regarding today’s topic call us on the air Saturday September 19th, 2015, call the studio at 901 535-9732 or toll free (800) 474-9732. I want to invite our listeners to follow me on Twitter @JoGarner. You can use #JoGarner in your tweets and we can see your comments within moments during this live broadcast. For today’s topic you are probably going to need a pen and paper to take notes or just remember to go back and listen to this podcast. Our general topic is “KEEP IT SAFE & SOUND—YOUR HOME & YOUR MORTGAGE TERMS.” Clint Cooper, owner of Redeemer’s Group, a foundation repair company and a mold expert is sitting again in the studio. During his time with Redeemers Group, Clint has published several articles on his areas of expertise. Most recently his first book entitled “Mold Prevention Science” was published and is used by entire the Basement Systems and Foundation Supportworks’ network of dealers to help them communicate with their clients about mold and mold prevention. He teaches CE classes for Memphis Area Association of Realtors several times per year. Clint, I’ll let you take it from there—what would you like to say to our listeners? <Clint talks about what he does at Redeemers Group and gives a few highlights of what we plan to cover during today’s show>
(Jo) Before we get into the rest of our topics, let’s go over the mortgage news for the week of September 14th, through September 18, 2015. The Federal Reserve decided to keep the Fed rate the same. Even though mortgage rates are not tied directly to the Fed Rate, our mortgage rates dropped down to about a 4-month low yesterday as the Fed negative market comments ran shock waves through the financial markets. Yesterday the 30 year fixed rates with no points came in around 3.875% -4%. The 15 yr rate with no points came in around the low to mid 3’s. FHA and VA 30 yr rates hit around 3.75% -4% . Pricing on mortgage rates depend on several different factors.
A lot of people are considering it a safe & sound bet to lock their mortgage rate and terms now if you are buying a house or trying to refinance one. Think about it, if you are borrowing $200,000 dollars at 4.25% for 30 years, your p&I is about $984/mo. At 3.875% your P&I would be $940/mo . That’s a $43/mo difference over 360 months =$15,626 saved just because of a little bit lower rate. If you want to talk about your specific situation and compare the numbers, call me after the show PERSONALLY at 901 482-0354. If you’re driving, just remember to connect with me later at www.JOGarner.com Clint, I like the idea of a safe & sound bet. What does that mean in your business?
<Clint takes a short moment to make some comments->
(Jo) Speaking of keeping your home safe and sound, most people live with their mortgage most of the time they are living in their home. Since you can’t put a lock or a fence around your mortgage to make it safer, it’s important to make some smart decisions about the terms up front.
- Only use an experienced realtor, lender and title agent –professionals with a good reputation—to be on your home buying team. THEIR experience can help YOU avoid some expensive pitfalls
- Some of my clients make the contract contingent on a satisfactory home inspection within the first few days of the contract being accepted. Get a professional home inspection. This can alert you to dangerous conditions in the house or high-dollar fix it projects where you will soon have to roll up your sleeves and empty out your wallet.
- Keep money in an emergency fund and try not to spend every dime you have on a down payment or costs to get into a home or refinance. If you need to get in for little down, I can probably help you there. Call me personally. I really want to help.
- Block out 2 or 3 hours to review your last 12 months bank statements and credit card statements to determine what you are REALLY spending and on what items. Take a look at your income after withholding has been taken out. Consider what you can COMFORTABLY afford. Let the loan officer know and your realtor so that you can ENJOY making your house payment comfortably and without stress. As we say on Real Estate Mortgage Shoppe-Make Your Plan, Work Your Plan, IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.
- Here’s one –if you are talking with a loan officer over the phone, only give the first few digits of your social security number. Text part of your private info with your last name and perhaps email the remainder with your name. This way your most private information is not all on one transmission. It just seems safer not to have all of your most private information in one message in one transmission.
Clint, you are the expert in keeping the home safe from the basement and foundation including preventing dangerous mold . Let’s get back to talking about what our listeners need to know about keeping their homes safe and sound
<Clint launches his topic>
- 2nd SEGMENT Of Show iShare Agency SOCIAL MEDIA TIP OF THE DAY (background music “Roar” by Katy Perry)
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- To our realtor friends and other savvy and sharp business friends out there, its time for the iShare Agency Social Media Tip of The Day for real estate professionals. Nita Black is the iShare Agency Exper today. Nita With over 30 years of experience in the financial services industry, She serves as Secretary on the City of Memphis Minority Business Development Oversight Commission, appointed by Mayor A.C. Wharton Jr. Nita, what is our Social Media Tip of the Day? (Nita has about 2 minutes to share what iShare Agency is and what it does and then the Social Media Tip of the Week)
QUESTIONS ANSWERED BY NITA BLACK:
- What particular areas does your company, Hylander CPA Firm specialize?
- What industries do you mainly serve?
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Questions answered by Clint Cooper :
Topics:
- Mold Awareness Month– (lack of regulations and standards)
Q: What credentials would someone need in order to present themselves as a mold expert?
- Mold is always an indicator of a different problem (IE, dirt crawl space or leaking basement)
Q: If someone has mold in their house, why would they have it in one place but not another?
Q: What does having mold in your house have to do with having a dirt crawl space or a basement?
- Techniques for combating mold
Q: Are there products that homeowners can go purchase to help them combat mold?
- Clint teaches CE classes for realtors through MAAR. What’s left this year: One related to mold on 11/4, one related to foundations on 10/29 and 11/5. They can find info on MAAR.org website
- Structural issues: from residential to the Pyramid. (We did structural work for Bass Pro)
Q: Other than waterproofing that prevents mold, what other services does Redeemers Group provide?
- Charitable project at Christmas time: We are going to be taking nominations for a foundation repair project we would like to complete just before Christmas.
Who should be nominated: Memphis-based charitable organizations that have buildings in need of structural repairs. Capped at $10,000 in foundation stabilization repairs. We will be releasing a nomination process soon on our website, but in the meantime if interested, email rosie@redeemersgroup.com.
(Jo commends Clint for his givers-gain philosophy. Currently, mortgage Loan officers work independently, for example, like insurance agents, or real estate agents……. All of our goals are to achieve what is in the best interest of our customer. “That is one of the biggest reasons I work with Evolve Bank and Trust is because of their commitment to give so much back to the community. For instance, Evolve Bank presents the popular Cooper Young Festival that is going on right now in the Cooper Young district of Memphis, TN. I plan to be down at the Evolve tent at the festival between around noon to 2pm today. So come on down. I’d like to meet some of our listeners in person. Another reason I like working with Evolve Bank is because this company is definitely prepared ahead-of-the-curve on the Know Before You Owe regulations about to take the nation by storm on October 3rd. If you want to know how to make your processer smoother through the new government rules –call me personally at 901 482-0354 or connect with me at www.JoGarner.com
- Cooper Young property: Clint will speak to this case.
(We had a customer that had a dirt crawl space and the duct work was sweating. The house became uncomfortable, smelly, and not energy efficient. He will talk through what we did.)
- What is a foundation failure?
- What signs are clues that there is a foundation failure?
- How do you fix a foundation failure?
- How long does the repair lasts?
- What foundation, crawl space or basement repair experience sticks out in your mind?
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Questions answered by Jo Garner:
- What type of renovation and repair loans do you have for people wanting to fix up their homes or people buying a fixer-upper house?
Jo talks about the FHA 203K renovation and repair loan. Its an R&R loan but R&R doesn’t stand for rest and relaxation unless you are hiring someone like Clint with Redeemers Group to fix the underneath on the house. or Kim Shumate with Key Homes to do the other fix ups while you go fishing.
On the 203K loan you can borrower the money to buy a house or refinance one. We add in the cost to repair your home and add some reserve money to make sure you have enough. You pay in about 3.5% of the total plus some closing
costs and money to set up an escrow account for taxes and insurance . If you’re buying a house you can ask the sellers to pay a lot of the closing costs and money to set up the escrow account.
- Go Back over the five tips for keeping your mortgage investment safe and sound.
REAL ESTATE TIP OF THE WEEK: ( iShare Agency Social Media Tip by Nita Black) Announcements: Talk Shoppe offers free education and networking to anyone interested in real estate or business. This Wednesday September 23rd, 2015 the Germantown Police Department will be presenting “Smart Practices To Keep You Safe From Crime” at University of Phoenix 65 Germantown Court 1st floor Cordova, TN 38018. For more information about Talk Shoppe, go to www.TalkShoppe.com
- To hear today’s podcast of the Real Estate Mortgage Shoppe and others, go to JoGarner.com
- Have some fun today at Evolve Bank and Trust’s Cooper Young Festival. The weather is great and you can have some fun. I plan to be near the Evolve Bank and Trust tent from around noon until about 2 this afternoon. I would like to meet you in person so come on by for a visit.
“MAKE YOUR PLAN, WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.”
QUOTE CORNER:
You can’t build a great building on a weak foundation. You must have a solid foundation if you’re going to have a strong superstructure.Gordon B. Hinckley
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Transitional Music: Safety Dance by Men Without Hats; “The House That Jack Built” Aretha Franklin; “Safe and Sound” by Capital Cities; “ROAR” BY KATY PERRY for the iShare Agency Social Media Tip of the Week for Real Estate Professionals
Nick Barnes-Videographer
Test Video Studios is a freelance videography studio that specializes in editing and consumer level online broadcasting. Test Video Studios also provides editing services for the local videography business, Storytellers. email is testvideostudios@gmail.com
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ABOUT NITA BLACK OF JOBS HATCHERY:
Nita Black merged her consulting firm, MAP Momentum, with Hylander CPA Firm in January 2015. With over 30 years of experience in the financial services industry, she has owned several businesses since 2000. Working with privately held companies, banks, and non-profit organizations, her services include strategic planning, business consulting, and collection work. She serves as Secretary on the City of Memphis Minority Business Development Oversight Commission (MBDOC), appointed by Mayor A.C. Wharton Jr. As a Past President of the National Association of Women Business Owners, Memphis Chapter (NAWBO Memphis), she is an advocate for women entrepreneurs and minority-owned businesses. She is a member of BNI – Business Network International – Power Connectors chapter.
About Jobs Hatchery
Jobs Hatchery, Inc. is a non-profit corporation with the mission to turnaround lives by connecting people with jobs and creating jobs. It offers (1) monthly Meetups, (2) weekly e-blasts to inspire solo and small business owners to keep their heads up, and (3) access to a small loan fund. One micro-loan is now being repaid, with the client in high growth mode and having created three jobs since October 2013.
Contact
To learn more about Nita Black email nitablack@mapmomentum.com . For more information about Jobs Hatchery, Inc., email connect@jobshatchery.org or go the website www.JobsHatchery.org. ###
ABOUT CLINT COOPER AND REDEEMERS GROUP
Owner, Redeemers Group
Redeemers Group is a specialty contractor that focuses on foundation repair, crawl space encapsulation, basement waterproofing, and concrete leveling. We serve West Tennessee, Mississippi, and Arkansas.
- Clint was born and raised outside of Nashville, TN and is a graduate of MTSU.
- He served in Iraq with the Marine Corps Infantry before returning home to Tennessee to live and work in Memphis.
- In 2007 he started Redeemers Group.
During his time with Redeemers Group, Clint has published several articles on his areas of expertise. Most recently his first book entitled “Mold Prevention Science” was published and is used by entire the Basement Systems and Foundation Supportworks’ network of dealers to help them communicate with their clients about mold and mold prevention. He teaches CE classes for Memphis Areas Association of Realtors several times per year.
He has also earned the following certifications and licenses:
- Basement Systems Waterproofing Certification
- Basement Systems Crawl Space Repair Certification
- Foundation Supportworks Diagnostics School Certification
- National Association of Mold Remediators and Inspectors License
- Blue Institute- LEED Training Certification, Member ID#:
- Green Building Council, Certification
- TN State Board for Realtors CE Authorized Instructor
- Clint lives in Germantown, TN with his wife and two children.
ABOUT JO GARNER:
www.JoGarner.com (901) 482 0354 jo@192.232.195.219 twitter @jogarner
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.BIZ She was also the editor of Power Shoppe, a free weekly e-zine designed for real estate professionals and others indirectly connected to the real estate industry and currently publishes on her blog www.JoGarner.com .
For real estate financing solutions, plug into the Real Estate Mortgage Shoppe program. You can find mortgage rates, FHA Streamline refinance with no out-of-pocket costs, refinancing options, home purchase loan programs, answers and real estate, money-saving tips and more.
PHOTO GALLERY FROM REAL ESTATE MORTGAGE SHOPPE 9-19-15