Justin Williams - Loan Officer

Hello Everyone!

I am honored and pleased to announce that I will be speaking at Social Media @ The Beach event in Virginia Beach on January 23rd 2010.

I will be in the presence of some really great people like Tina Merritt (NAR Technology Winner), Jeff Turner (Real Estate Shows) and Dakno Marketing.

I hope I can see everyone there! :)

RSVP: http://www.socialmediabeach.com/

Target:
Anyone looking to learn about Social Media. Whether you are completely new to Social Media or you have advanced experience, you'll find value in the large variety of topics to be discussed.

Event Date:
Saturday, January 23, 2010

Event Location:
Peabody's
211 21st St
Virginia Beach, Virginia 23451

Time:
10 a.m. to 5 p.m. with a break for catered lunch

Don't Be Quick To Turndown a Loan

Just last week a client was referred to me by reading one of my blog posts. The reason he was searching for a local lender is because he tried to get approved in refinancing his mortgage from an 8% rate. The lender he tried to go with did not even bother calling the client back after pulling his credit. This is a sign that usually the client had qualifications lower than the minimum and the loan officer decided not to call the client back.

However, I work with the client till the end even if they don't qualify now, I will try to find a way to help them work on their credit or finances so they can be ready down the road. Customer for life and not a customer for right now as I always say. So when working with the client I have came to find out that he had scores under 550 but also had a FHA loan insured. Under FHA Streamline guidelines I was able to refinance my client with...

1.) No Appraisal Necessary

2.) No Credit Check

3.) No Income/Assets Check

This is a great way to lower your rate and payment even if you are upside down in equity, having trouble verifying income or even having trouble with low fico scores. Below are the guidelines for a FHA Streamline Refinance. More information via HUD on the FHA streamline can be found here.

• The mortgage to be refinanced must already be FHA insured.
  
• The mortgage to be refinanced should be current (not delinquent).
  
• The refinance is to result in a lowering of the borrower's monthly principal and interest payments.
  
• No cash may be taken out on mortgages refinanced using the streamline refinance process.
  

Earth Hour 2009 March 28th

This is a reminder that tonight Earth Hour invites one billion people in more than 2800 cities representing 83 countries to turn off their lights for one hour – tonight, Saturday, March 28 from 8:30pm to 9:30pm in their local time zone.

All you have to do to Vote Earth is turn your lights out for one hour tonight, Saturday, March 28 from 8:30pm to 9:30pm local time, in your city. Your light switch is your vote!

Earth Hour is about more than dimming lights for sixty minutes; it’s about making a commitment to reduce energy consumption throughout the year.

So I got to thinking what ways can I help conserve energy that a normal person who is in a business can do below are a few tips to consider.

• Turn off your office lights even if your broker/manager pays for it, its still a waste to keep it on.
• Turn on your energy management on your computer which can result in saving hundreds each year.
• Use long lasting light bulbs. They may be a bit more expensive but they last longer than regular light bulbs which ultimately help save you money in the long run.

FHA 203k Rehab Loan Quick Tip: Utilities Being Turned On At Closing

Most Conventional loans including Conventional 203k Rehab/Renovation loans require from the lender to have all the utilities on and fully working at the time of closing.

FHA Loans and FHA 203k Loans are a differen't beast however and doesn't fall into this myth....

At the time of closing, if the 203k loan is running behind or is not set up to have all the utilities to be turned on there is a solution. You can increase your contingency reserves in order cover the utilities not being turned on at closing thus preventing loan closing delays!

So the answer is: You DO NOT have to have utilities turned on at closing in order to close!

**Please Note - The Reserves can be financed in the loan increasing the rennovation costs by 10% to cover this**

This is a great myth buster because as with any Rehab loan out there, there could be houses that are not in the perfect shape where all the utilities are in working order and thus need this option in order to prevent loan delays.

For more information on 203k loans please refer to my previous post or call me anytime.

Remember, not all Mortgage Professionals offer 203k Loans. Consult with a Renovation Specialist who can guide you through the decision in Streamline vs Full Renovation. By the way...I offer both :)

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Just-In-Time Loans - Mortgage Needs and Advice on Time. (757-692-3464)