Realtors Archives

NEW Resource Makes Your Life Easier – Both Business and Personal and Best of All, IT IS FREE!

You have got to check out this great resource. I use it in my business and personal stuff.

Click on this link to get yours today for free!

http://bit.ly/MakeItEasyForMe

Fire back and let me know…

I’m making a short video to show you exactly how we use this in our business.

Dan, my lead maintenance guy, discovered this and turned it on. I did not have a clue about it or how it worked. Yes, i had heard of it, but did  not understand it. Odds are, you are probably the same..

http://bit.ly/MakeItEasyForMe

 This just in:

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Summary – FHA Guidance on Minimum Credit Scores and LTV Requirement

 
In accordance with the final Federal Register Notice [FR-5404-N-02] on minimum decision credit scores and LTV ratios for FHA-insured single family mortgages, the new requirements are 
Borrowers with a minimum decision credit score at or above 580 are eligible for maximum financing. 
 
Borrowers with a minimum decision credit score between 500 and 579 are limited to 90 percent LTV. 
 
Borrowers with a minimum decision credit score of less than 500 are not eligible for FHA-insured mortgage financing. 
 
Borrowers with a non-traditional credit history or insufficient credit are eligible for maximum financing but must meet the underwriting guidance in HUD 4155.1 4.C.3. 
 
Borrowers using 203(h), Mortgage Insurance for Disaster Victims, are eligible for 100 percent financing and no downpayment is required, provided that the borrowers have a minimum credit score of 500 (borrowers with decision credit scores below 500 are not eligible for FHA financing). 
 
These new requirements are applicable to all Single Family programs except Title I, Home Equity Conversion Mortgages; HOPE for Homeowners; Section 247; Section 248; Section 223(e) and Section 238. 

This is unbelievable. I had to hit the rewind thing on my TV to do a double take. Check this out.

I saw a commercial last night where folks can use their cell phone to take a photo of a check and deposit it into their bank account.

Next, using your cell phone again, you can take a photo of a check you just wrote or printed to pay a bill and click something on your phone and pay the bill… wow!  Let me repeat, use your cell phone, take a photo of your check, and your cell phone allows you to pay your bill with a photo of your check.

I do not understand the details; however, this is a huge wake up call about where and how technology will be become a very big part of making your business more automated and efficient.

I am very much behind the times, especially when it comes to "online banking." Having been told for years you can use online banking to pay bills, write checks, etc. and your bank will do it for free including printing the check, envelope and postage. This seemed too good to be true until I began receiving payments in the mail from folks using this very same method.

Postage ain’t cheap. This got my attention, and we are gradually working toward utilizing these free resources for our business.

If it seems a little far fetched at the moment, as far as the cell phone camera taking pictures of checks…. just think back a bit, 8 track tapes, fax machines, email, internet, cell phones, blue tooth,.. you get the point… keep your eyes and ears open and always have a sponge-like attitude toward education. Absorb it all. 

 July 8, 2010 – A coalition of housing industry groups joined the National Association of Home Builders (NAHB) today in announcing plans to file a lawsuit against the federal Environmental Protection Agency (EPA) for removing the "opt-out" provision from its Lead: Renovation, Repair and Painting rule.

The Lead: Renovation, Repair and Painting rule (LRRP) applies to homes constructed before 1978 when lead paint was banned. Its opt-out provision, which expired July 6, let consumers allow contractors to bypass extra preparation, clean-up and recordkeeping requirements in homes where there were no children under 6 or pregnant women, thus avoiding additional costs.

"Removing the opt-out provision more than doubles the number of homes subject to the regulation," said NAHB Chairman Bob Jones, a home builder and developer in Bloomfield Hills, Mich. "About 79 million homes are affected, even though EPA estimates that only 38 million homes contain lead-based paint. Removing the opt-out provision extends the rule to consumers who need no protection."

The Hearth, Patio & Barbecue Association, the National Lumber and Building Material Dealers Association and the Window and Door Manufacturers Association joined NAHB in filing the petition for review in the U.S. Court of Appeals for the D.C. Circuit.

The group will challenge EPA’s action on the grounds that the agency substantially amended its LRRP regulation without any new scientific data and before the regulation was even put into place on April 22, 2010.

"Even under the original rule, the opt-out provision was not available in homes where small children or pregnant women live," Jones said. "That shows that this change provides no additional protection to the people who are most vulnerable to lead-based paint hazards."

Remodelers’ and other contractors’ estimates of the additional costs associated with the lead-safe work practices average about $2,400, but vary according to the size and type of job. For example, a complete window replacement requires the contractor to install thick vinyl sheeting to surround the work area both inside the home and outdoors – with prep time and material costs adding an estimated $60 to $170 for each window.

"Consumers trying to use rebates and incentive programs to make their homes more energy efficient will likely find those savings eaten up by the costs of the rule’s requirements. Worse, these costs may drive many consumers – even those with small children – to seek uncertified remodelers and other contractors. Others will likely choose to do the work themselves – or not do it at all – to save money. That does nothing to protect the population this rule was designed to safeguard," Jones said    

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