“Tips for Moving Your Stuff and Your Mortgage Money” 2-1-14
Highlights From Our Podcast 2-1-14:
Questions answered by Lynn Lanigan:
1. As we are gearing up for the prime moving season to begin (May 1 through August 30), what should people be doing in preparation for their move?
2. Moving is costly: what should people do if they need to save money?
3. I have heard from some friends that their company paid for their move. How does Lanigan service these moves?
4. Moving estimates are often confusing: what should I be looking for in an estimate?
5. What is a good way to check out a moving company to see if they are worth doing business with?
6. What if I have a last minute move? Can Lanigan help me in such cases?
7. When and how do people pay for their moves?
8. Does Lanigan perform office or warehouse/industrial moves?
9. Does Lanigan do any record storage?
10. What is your best advice to people who are going to be moving?
QUESTIONS ANSWERED BY JO GARNER:
1.Financial Headlines are talking about the new, stricter mortgage regulations that took effect earlier this month. How do these new rules affect homebuyers and people refinancing their homes?
- 2. What tips can YOU give anyone making the move to buy a home or refinance one with a mortgage?
REAL ESTATE TIP OF THE WEEK : Lynn Lanigan offers practical time-saving/money-saving tip on moving.
Good morning Memphis! Good morning to IHEART listeners around the country. Its been a cold weather week for most all of you, but we hope to warm you up today on the Real Estate Mortgage Shoppe. I’m your host, Jo Garner, mortgage professional with Evolve Bank and Trust. Having coffee with us this morning is Lynn Lanigan of Lanigan Worldwide Moving-An Allied Agent. Lynn, you were voted #1 CEO in Memphis for 2013. Glad to have you with us today.
- Today we are talking about whatever real estate or financing , or moving topic you want to discuss. Call us on the air at 901 535-WREC. That number again is 901 535-9732. Our general topic today is “Tips for Moving Your Stuff and Your Mortgage Money.” Mortgage rates certainly moved their stuff this week, Lynn. bringing them well past previous 2014 lows and back in line with levels not seen since November 19th. Overnight weakness in foreign markets continues to promote strength in mortgage-backed-securities most directly influence mortgage rates. 30YR FIXED – 4.375%, FHA/VA – 4.25%, 15 YEAR FIXED – 3.375%, and Evolve has a special jumbo loan with a fixed rate the first 5 years with a rate in the 3’s. Everything is moving in the right direction at the moment but don’t wait too long to lock your rate. IF THE DEAL WORKS FOR YOU TODAY, BETTER DO IT TODAY.
(Jo says) I bet there are plenty of people out there who are NOT wanting to move their stuff in this artic weather we’ve been enduring. And lately if we aren’t shivering in the artic chill , we’re getting drenched in the rain. Ha. Gotta love Memphis. If you don’t like the weather– JUST WAIT A MINUTE.
(Jo) Lots of my customers are getting preapproved right now and just starting to look for a home to buy. If you are preparing to get a mortgage to buy a house and you want your move to be smooth, here’s some tips: 1. If you have cash money you’re saving at home, go ahead and put it in the bank so that it will not show up as a large deposit when we ask for your latest bank statement. Nowadays, if you have a large deposit on your bank statement, you will need to show documentation on where it came from. Cash under the mattress is not an acceptable source. I met a woman one time who saved about $1,000 for her down payment over a period of several years. Her husband kept spending all their money and she never had any since she didn’t have outside employment. Over a period of years she took the change out of her husband’s trouser pockets at night after he went to bed and guess where she hid it?………..somewhere where she KNEW HE would never find it……in a Crisco can in her baking cabinet. She was able to use her documented budget to prove where she came up with the money AND she got some down payment assistance so she could purchase her new home.
2. Don’t change jobs or quit a job in the middle of the loan process. This can cost you the loan approval and it will drive your loan officer crazy. 3. Don’t run out and BUY anything or open any new accounts –especially do not open a 12 months same as cash account. This can be detrimental to your income-to-debt ratios and your credit scores.4. Let your loan officer know what your comfort level is on a payment and on the amount of money down. Communicate with your loan officer closely as you go through the process. Most loan officers don’t get paid unless your loan closes, SO WE ARE ON YOUR TEAM.
(Jo) If you or someone you know is buying a home or refinancing one, my very experienced assistant, Susan Belew and I know how to move you to your loan approval quickest. Call me and let’s spend a little extra time to determine what your goals are and what payment amount and down payment amounts are comfortable for you. Memphis and the Mid-South have several down payment assistance programs and we can look for special 100% loan products too. If you are looking for flexibility, we can compare some combination loans which can minimize the funds coming out of your pocket and still allow you to eliminate any unnecessary mortgage insurance. If you want to buy a fixer upper, we have home rehab loans you can use for that. Tell me what you want to accomplish and Susan and I will go to work to help you achieve it. To call me directly off the air the best number is 901 482 0354. That number again is 901 482 0354. Or call us right now on the air and let’s talk (901) 535-9732 (901) 535 WREC.
If you need to refinance and free up some cash each month, or if you want to shorten the term on your loan, call me. We may be able to do it without even having to worry about an appraisal value. This goes for primary residences, second homes or even investment properties. If you can shorten the term AND lower your payment—you will REALLY REALLY have some bragging rights on the table.
Our topic today is “Tips for Moving Your Stuff and Your Mortgage Money.” I’ve given you some tips on making some profitable moves with your mortgage money. But let’s talk about tips on moving your stuff. Lynn Lanigan with Lanigan Worldwide Moving-An Allied Agent, what are some helpful tips you can give on how to best MOVE OUR STUFF? < Lynn launches topic 1.5 to 2 minutes> (only if we have a couple of minutes left before 9:16 break, we can have Eric Meyers pop in with the Superbowl snacks for us to taste-test and we can give him a short plug and he can give his contact info and that his Super Bowl catering menu can be found on the Talk Shoppe Memphis Facebook page or his website –whichever he prefers. We could go out on break munching …if we don’t have 2 minutes after Lynn launches then we have Eric come in at the beginning of the 2nd segment.
2nd segment of show ( “Memphis” song playing in background)–LOOK BACK MEMPHIS TRIVIA CONTEST 2-1-14 contributed by Jimmy Ogle, Memphis Historian. You can join Mr. Ogle on free historic Memphis tours. For more information about Mr. Ogle, go to www.JimmyOgle.com . Our sponsor for the Look Back Memphis Trivia contest is Chandler Peterson, a Leadership coach, trainer and speaker certified by the leadership guru, John C. Maxwell. Chandler works with people who own or manage businesses to help them grow their business and improve their lives. For a 45 minute complimentary coaching session, call Chandler Peterson at 901-860-1855, or check out her website at www.johnmaxwellgroup.com/chandlerpeterson. Chandler has donated a $25 gift certificate to Chili’s Restaurant to the first person who calls with the correct answer to our Trivia Contest. If you know the answer call us on the air at 901 535 WREC 901 535-9732.
- a. November 6th Street
- Here’s our Trivia Question: November 6th, 1934 Street in Memphis is a most unusual name for a city street. It is actually an alley that runs north/south in Downtown Memphis between Main Street and Second Street, from Beale Street to Shadyac Avenue (in the Pinch District). It is the only known street in the country that includes an entire date –month, date and year –although our modern street signs are not large enough to include the full name of the street including the year. How did the street November 6th, 1934 receive its name? If you know the answer, be our first caller with the correct answer and win the $25 gift card. (901) 535 WREC. (901) 535 9732
- Hint: Think Memphis Light, Gas & Water! No, it is not the date that MLGW was formed, as that was not until 1939 (MLGW is the largest multi-utility service under one roof in the nation). You’re close . . .
- Hint: Although this industry was growing in Memphis (a large urban center) through the first part of the 20th century, the program was a federally stimulated program (Works Progress Administration of President Franklin D. Roosevelt) intended for the rural areas of the South.
- Hint: Memphis built the Allen Steam Plant at McKellar Lake in the 1950s to offset its increased demand for electricity.
- Last Hint: TVA (Tennessee valley Authority).
- g.
- h. Answer: On November 6, 1934, citizens of the City of Memphis voted (at the urging of E.H. Crump) to join the Tennessee Valley Authority (TVA) program to receive electricity at a cheaper rate. The original name of this alley was Maiden Lane. The first home in Memphis to receive TVA power was the residence of Nat Jones, 1438 Willett on June 3, 1938. Memphis is still the # 1 customer of TVA at 11%.
- Back Story: As one of the most unusual names for a street in Memphis, apparently there are no other streets that we can find that are named for a specific “month, day, year”. Hmmm. Can you find one?
- Each year, Jimmy Ogle gives a free walking tour of November 6th Street on November 6! Go to jimmyogle.com for his schedule of free walking tours in Downtown:
- Shelby County Courthouse: Third Thursday each month at 12:00 noon
Memphis & Arkansas Bridge Walk: Sundays (March 30, April 13, May 18) at 2:00 p.m. at Crump Park
TUESDAY TOURS: Tuesdays from April 1 to June 10 at 11:45 a.m. for about four blocks from a different street corner each week
More about our Look Back Memphis Trivia Contest sponsor: Chandler Peterson is a Leadership coach, trainer and speaker certified by the leadership guru, John C. Maxwell. The most successful entrepreneurs are those who think differently and understand that their growth depends on how they think,so they invest Time and Money on challenging How they Think. Chandler helps you to focus on improvement and productivity, and she becomes your personal ally. For a 45 minute complimentary coaching session, call Chandler Peterson at 901-860-1855, or check out her website at www.johnmaxwellgroup.com/chandlerpeterson.
Questions answered by Lynn Lanigan:
1. As we are gearing up for the prime moving season to begin (May 1 through August 30), what should people be doing in preparation for their move?
a. Getting your estimate done and the move dates booked early is critical. Every year there are dates that close to new shipments or business due to capacity issues. In the summer dates can close as early as 6 weeks out. It is advisable to begin the process as early as possible.
2. Moving is costly: what should people do if they need to save money?
- A big area in which consumers can save is in the packing. While Lanigan is more than able to handle all of your packing needs, we also service moves of those customers who choose to pack themselves. We supply boxes, tape, paper—all the things a family might need for packing. We can even quote a ‘partial pack’ move where we pack the breakables only. For families, this is a great way to get the kids involved in the move—by letting them pack their non-breakable items themselves.
3. I have heard from some friends that their company paid for their move. How does Lanigan service these moves?
If the company doesn’t already have an account then these are usually a three bid or lump sum process. Either way we are happy to provide a guaranteed price estimate for these corporate customers. We can direct bill the company provided we receive a purchase order or letter of authorization from an officer with the organization. Some customers pay for the move and are reimbursed by the company.
4. Moving estimates are often confusing: what should I be looking for in an estimate?
a. You should look for a fully binding or guaranteed price estimate. A non-binding estimate has the potential to increase for any overages in weight, packing, or accessorials. Lanigan provides guaranteed prices on all estimates. This includes local, interstate, and O & I moves. Read the entire estimate carefully and compare it to the other ones you have received.
5. What is a good way to check out a moving company to see if they are worth doing business with?
a. The BBB and Angie’s List are two great ways to check a company’s reputation. Every moving company should have a BBB rating at a minimum. Two other certifications to look for are PROMOVERS certification & AMSA membership.
6. What if I have a last minute move? Can Lanigan help me in such cases?
a. We are well equipped to handle last minute moves: every year we get some special situations that require urgency. We have 14 over-the-road drivers. We can get the job done when others cannot.
7. When and how do people pay for their moves?
a. We collect charges prior to unloading. Customers may pay with credit card or cashier’s check. We do not require a deposit to schedule a move. The credit card option is great for customers who get points or miles from using their credit card.
8. Does Lanigan perform office or warehouse/industrial moves?
a. Yes. We do service office and industrial/warehouse type moves. We are one of the few companies in town that can service large corporate moves in a timely fashion. We have serviced a large percentage of the bigger office moves that have occurred in Memphis over the past decade. This is not to say we do not service smaller offices and warehouse as well. We are happy to service any size move.
9. Does Lanigan do any record storage?
- Yes. We do record storage. Expand…..
10. What is your best advice to people who are going to be moving?
- Find a company and a moving consultant who you can trust. As with most things in life you get what you pay for. Our goal at Lanigan is to offer the highest quality moving services available at competitive market prices. We stand by our great service and we know you will be pleased with our work from beginning to end.
QUESTIONS ANSWERED BY JO GARNER:
1.Financial Headlines are talking about the new, stricter mortgage regulations that took effect earlier this month. How do these new rules affect homebuyers and people refinancing their homes?
(Jo) Effective January 10, 2014, the new mortgage rules impose stricter requirements on how lenders can operate and restricting borrowers on how much debt they are allowed to carry—the list goes on and on. To make things easier on our borrowers, for right now unless anything changes, Evolve Bank and Trust simply looks at the computerized underwriting findings on conventional loans, FHA loans, VA loans, USDA Rural Housing loans and other programs. If the computerized decision says “Approve/Eligible” and we have the proper documentation backing up what is indicated on the loan application, we just close the loan. There are some exceptions to that, but that is one advantage of working with me at Evolve Bank to cut out some of the hurdles.
The other advantage to working with my assistant Susan Belew and me on your mortgage is because an EXPERIENCED loan officer is going to be more important than ever. You need a mortgage officer who knows how to exclude certain debts and legally not count certain payments against you. An experienced loan officer will know instantly how to a find extra income in the BACK pages of your tax returns. More and more often Susan and I get calls from self-employed people with GOOD CREDIT who have been turned down at other banks for lack of income. Susan and I are able to go to the back pages of their tax returns, their K-1s and Schedule C’s and credit the borrower with income that was not readily apparent on the front pages.
- 2. What tips can YOU give anyone making the move to buy a home or refinance one with a mortgage?
MOST ALL OF MY CUSTOMERS ARE GREAT CUSTOMERS AND WOULD NEVER DO WHAT I AM ABOUT TO SHARE WITH YOU—BUT OVER THE YEARS THERE HAVE BEEN THESE EXCEPTIONS:
Numero uno: Do NOT go out and buy a car, open a credit card or even a 12 month same as cash account before you close on your mortgage. Underwriters and compliance officers check reports to see if you have done this right before you close. You may make plenty of money but if the mortgage company, for whatever reason, can only count part of your income for qualifying, any new credit could cause a problem with your loan approval.
- Please do not move money from one account to the other during the loan process. This will drive your mortgage officer crazy and can delay your loan closing. Its common for the loan processer to ask your bank for an update on the account activity closer to closing. If you said you had $10,000 in the account and now there is only $3000, you have got to show a papertrail on where the money went and that can take time.
- If you have a mortgage loan in process for refinancing your home or buying a home, please don’t change jobs or quit your job without first telling the loan officer. That has happened on a number of occasions and believe me, it can cause a delay….and will also drive your mortgage officer crazy.
- Don’t spend your money on other stuff before you go to close on a home loan: We could not figure out where our customer was going to get the money to close on his home. He said he was saving it but, looking at his budget, we couldn’t see how. Into the 1st or 2nd week of the following month when he was ready to close, he brought us his latest bank statement and, sure enough, he had saved the money to close. Wow! But when the compliance person pulled a last minute check on his credit we discovered WHY he was able to save that much so fast….. he didn’t pay his bills from the month before….. His credit score had plummeted over 100 points, so low we could no longer approve the loan. It would take another three or four months to get his scores up again.
- Talk to your loan officer—we care about you and we are on YOUR team. If your loan doesn’t close, we don’t get paid. So we are very motivated to help you get your loan closed.
REAL ESTATE TIP OF THE WEEK — Lynn Lanigan offers practical time-saving/money-saving tip on moving.
Jo Garner has two announcements: Talk Shoppe offers free education and networking to anyone interested in real estate or business. This Wednesday February 5th, 2014 Bob Brogdon, Investor Rehab Services, will be presenting “Tips for Dealing With Roofers” Wednesday 9A-10A at DeVry University 6401 Poplar Ave 6th floor in Memphis. For more information about Talk Shoppe, go to www.TalkShoppe.BIZ
Next Saturday on the Real Estate Mortgage Shoppe program Tom King, certified Shelby County Real Estate Property Tax Appeal Expert will be talking about how to lower your property taxes. For copies of this podcast and others from our show, go to www.mortgageloansblog.com
Transition Songs: The Jeffersons Theme Song; “Convoy” by MC McCall; On My Way Phil Collins; “Memphis” by Johnny Rivers
Lynn Lanigan: Experience
President CEO
Lanigan Worldwide Moving & Warehousing, Inc./Interstate Agent for Allied Van Lines
July 2007 – Present (6 years 8 months)Greater Memphis Area, Tennessee
The services provided by Lanigan Worldwide Moving & Warehousing, Inc., an interstate agent for Allied Van Lines, Inc. since 1955 (“Lanigan/Allied”), include full-service relocations of household goods locally, to and from all points within the United States, and internationally. This includes all services related to the relocation process. Lanigan/Allied also performs office relocations and plant/warehouse relocations, as well as in-house moving for corporations. It also performs storage-in-transit and permanent storage for household goods, and commercial storage and logistics for corporations.
Chef Eric Meyers – The Confectionery (eric@theconfectionerymemphis.com) 901-277-4428
We Offer Everything From Lunch for Your Office, Dinner for Small Groups, to Hors D’Oeuvres for a Few Hundred www.theconfectionerymemphis.com
Jo Garner’s Bio
www.MortgageLoansBlog.com www.MoneyShoppe.NET (901) 482 0354 jogarner@mindspring.com
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 17 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 is currently the host of the Real Estate Mortgage Shoppe program 9A-10A CDT Saturdays on News Radio AM 600 WREC and IHEART Radio http://www.iheart.com/#/live/2145/?autoplay=true and currently publishes on her blog www.MortgageLoansBlog.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.