Veracity's Credit Tip of the Week
Myths of Credit RepairMyth: Credit can be repaired instantly.
Fact: Credit repair is a lengthy process that can take months even when working with dedicated professionals. Any company that offers a guaranteed instant fix to your credit scores should be considered a scam and avoided. Remember, if it's too good to be true, it probably is.
Myth: You can't fix bad credit.
Fact: Inaccurate items on a credit report can by all means be removed through the dispute process. Even accurate derogatory trade lines can be repaired with time and careful repayment of your debts. As old debts are paid and all newer debts are paid on time, even the worst credit will slowly begin to improve.
Myth: I can improve my credit by simply paying off all my old debts.
Fact: As much as we wish this were true, the fact is paying your old collections can drop your scores by updating the activity on those accounts. There is a process for paying off old debts that must be followed if your credit is to improve through paying debts.
Tuesday, April 22, 2008
Thursday, April 17, 2008
Credit Score tip of the week
Veracity's Credit Tip of the Week
Myths of Credit Scores
Myth: Consumers only have 1 credit score.
Fact: Every lender will look at 3 different scores from each of the three Credit Bureaus information. In common practice, a lender will use whatever score happens to fall in the middle. It is always a good idea to check all 3 when you purchase your scores online.
Myth: Your age, income and place of residence are factors in your score.
Fact: None of this information will be factored into your scores. Though your address, employer and DOB do show on the report they will have no bearing on the score itself.
Myth: Shopping around for a loan hurts your score.
Fact: Though excessive inquiries do damage a score, as long as you are shopping for the same type of credit within a 14 day period, your scores should not be affected. Scores will drop if you apply for a car loan, a house loan, and a credit card all in the same month as these types of credit all differ.
Myths of Credit Scores
Myth: Consumers only have 1 credit score.
Fact: Every lender will look at 3 different scores from each of the three Credit Bureaus information. In common practice, a lender will use whatever score happens to fall in the middle. It is always a good idea to check all 3 when you purchase your scores online.
Myth: Your age, income and place of residence are factors in your score.
Fact: None of this information will be factored into your scores. Though your address, employer and DOB do show on the report they will have no bearing on the score itself.
Myth: Shopping around for a loan hurts your score.
Fact: Though excessive inquiries do damage a score, as long as you are shopping for the same type of credit within a 14 day period, your scores should not be affected. Scores will drop if you apply for a car loan, a house loan, and a credit card all in the same month as these types of credit all differ.
Wednesday, April 9, 2008
Cattle Dog / Heeler adoption event
New Hope Cattle Dog Rescue of Colorado will have many dogs on display this weekend. Come meet them and help them find their forever homes.
http://www.nhcdrescuecolorado.com/adopt.htm
TAKODA'S PET DEPOT
7735 West Long Drive, Suite 1
Littleton, CO 80123
10 am - 3 pm
12 APRIL 2008
http://www.nhcdrescuecolorado.com/adopt.htm
TAKODA'S PET DEPOT
7735 West Long Drive, Suite 1
Littleton, CO 80123
10 am - 3 pm
12 APRIL 2008
11 Deadly Mistakes When Applying for a Mortgage
1.Not Knowing How Much Money You Can Put Down
It's important to know how much you can afford to pay in down payment and closing costs when you apply for your mortgage. The more you put down the better rates and terms you're likely to get. At the same time you also need to stay within your means and comfort level.
2. Working With A Mortgage Broker Who Has A Poor Performance Record
Industry insiders know that the most common reason that a sale fails to go through is that the mortgage fails to go through. Ask your mortgage broker about her/his performance guarantee.
3. Not Understanding The Process
Most of us don't shop for a mortgage very often. As a result it isn't something we become familiar with. Work with a mortgage broker who will take the time to answer your questions and uses terms you understand.
4. Working With A Lender Who has Only One Investor
Not all lenders have a range of options when it comes to investors. What if that investor doesn't offer the type of mortgage you need? Or worse yet, what if you need to change loan products after you've started the process? Working with a mortgage broker who has many investors enables you to address these issues without starting the process over again.
5. Making Large Purchases Prior to Your Mortgage Application
Many people think that it is in their best interest to get large purchases completed prior to applying for their mortgage. As total debt is a key component in determining the amount of home you qualify for it is best to wait until after your home purchase has closed to make such purchases.
6. Over Shopping Your Loan
Each time you call a lender seeking the best possible rate and terms you have your credit report pulled. Every time your credit report is pulled you risk decreasing your credit score and thus possibly decreasing the likelihood of getting the best rate and terms. Experts recommend that you select a mortgage broker with a number of investors and do your shopping with her/him.
7. Hiding Things From Your Mortgage Broker
Most of us have experienced times of financial difficulty at some point. While it can be embarrassing to discuss issues like this, your mortgage broker is there to help you get loan approved despite such issues. Your mortgage broker can only help you with those things with which s/he is aware.
8. Making Late Payments
Late payments, especially those within the last year, can be very detrimental to getting the best rate, terms and even the difference of being approved at all. While this might seem like unnecessary advice, ALWAYS pay on time.
9. Over Using Credit Cards
Credit cards are a convenient way to make purchases, but if not paid off or balances kept low you might find it more difficult to get the best rates and terms on your mortgage. Keeping your total debt as low as possible helps you get the mortgage that best meets your specific needs.
10. Cosigning On Someone Else's Loan
While it can be a great service to a friend or loved one, signing to guarantee someone else's loan is often a big head ache for the cosigner. Before cosigning you decide if you're willing and/or able to assume the liability.
11. Not Getting All The Facts
It is important to learn the total cost of your mortgage loan, both at closing and for the life of the loan. While mortgages can look a lot alike there can be subtle differences which can save or cost you thousands of dollars. Get all the facts and know what to expect.
Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure your mortgage, can cost or save you literally thousands of dollars and years of expense.
Get the Right Information - Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you be informed about the factors involved. Everyday people have their mortgage loan turned down because of one or more of these mistakes. By taking these few minutes to acquaint yourself with the "11 Deadly Mistakes When Applying For A Mortgage" you can save thousands on your mortgage.
It's important to know how much you can afford to pay in down payment and closing costs when you apply for your mortgage. The more you put down the better rates and terms you're likely to get. At the same time you also need to stay within your means and comfort level.
2. Working With A Mortgage Broker Who Has A Poor Performance Record
Industry insiders know that the most common reason that a sale fails to go through is that the mortgage fails to go through. Ask your mortgage broker about her/his performance guarantee.
3. Not Understanding The Process
Most of us don't shop for a mortgage very often. As a result it isn't something we become familiar with. Work with a mortgage broker who will take the time to answer your questions and uses terms you understand.
4. Working With A Lender Who has Only One Investor
Not all lenders have a range of options when it comes to investors. What if that investor doesn't offer the type of mortgage you need? Or worse yet, what if you need to change loan products after you've started the process? Working with a mortgage broker who has many investors enables you to address these issues without starting the process over again.
5. Making Large Purchases Prior to Your Mortgage Application
Many people think that it is in their best interest to get large purchases completed prior to applying for their mortgage. As total debt is a key component in determining the amount of home you qualify for it is best to wait until after your home purchase has closed to make such purchases.
6. Over Shopping Your Loan
Each time you call a lender seeking the best possible rate and terms you have your credit report pulled. Every time your credit report is pulled you risk decreasing your credit score and thus possibly decreasing the likelihood of getting the best rate and terms. Experts recommend that you select a mortgage broker with a number of investors and do your shopping with her/him.
7. Hiding Things From Your Mortgage Broker
Most of us have experienced times of financial difficulty at some point. While it can be embarrassing to discuss issues like this, your mortgage broker is there to help you get loan approved despite such issues. Your mortgage broker can only help you with those things with which s/he is aware.
8. Making Late Payments
Late payments, especially those within the last year, can be very detrimental to getting the best rate, terms and even the difference of being approved at all. While this might seem like unnecessary advice, ALWAYS pay on time.
9. Over Using Credit Cards
Credit cards are a convenient way to make purchases, but if not paid off or balances kept low you might find it more difficult to get the best rates and terms on your mortgage. Keeping your total debt as low as possible helps you get the mortgage that best meets your specific needs.
10. Cosigning On Someone Else's Loan
While it can be a great service to a friend or loved one, signing to guarantee someone else's loan is often a big head ache for the cosigner. Before cosigning you decide if you're willing and/or able to assume the liability.
11. Not Getting All The Facts
It is important to learn the total cost of your mortgage loan, both at closing and for the life of the loan. While mortgages can look a lot alike there can be subtle differences which can save or cost you thousands of dollars. Get all the facts and know what to expect.
Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure your mortgage, can cost or save you literally thousands of dollars and years of expense.
Get the Right Information - Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you be informed about the factors involved. Everyday people have their mortgage loan turned down because of one or more of these mistakes. By taking these few minutes to acquaint yourself with the "11 Deadly Mistakes When Applying For A Mortgage" you can save thousands on your mortgage.
Why are people getting Reverse Mortgages?
ATLANTA, April 2, 2008, 2008 /PRNewswire via COMTEX/ -- A survey of 213 homeowners who have received reverse mortgage loans found that the number one reason for the loan is to pay for daily living expenses. Only 3% say they used the funds from a reverse mortgage loan to take a vacation.
The survey was conducted in January by Consumer Credit Counseling Service of Greater Atlanta, Inc., a credit counseling agency that provides reverse mortgage counseling. The homeowners average 74 years old and have lived in their homes an average of 18.5 years. The average purchase price of their homes was $95,554 and the respondents said that the current value of their homes was approximately $221,997.
When asked the question, "What prompted you to obtain a reverse mortgage loan?" the responses were:
-- Budget too tight - 19%
-- Need more liquid assets on hand - 16%
-- Home repairs and maintenance - 15%
-- Provide care for dependents, pay medical bills - 8%
-- Pay property taxes and homeowner's insurance - 7.23%
-- Falling behind on monthly payments - 6.25%
A person must be 62 years of age or older to be eligible for a reverse mortgage. A reverse mortgage is a loan that allows homeowners to convert the equity in their homes into tax-free income without having to sell the home, give up the title, or take on a new or additional monthly payment. Loans must be repaid when the homeowner no longer lives in the home.
"We expect the demand for reverse mortgages to grow significantly as baby boomers reach retirement and need funds to meet daily expenses," said Sue Hunt, manager of reverse mortgage counseling for CCCS. "It is important for homeowners to educate themselves about reverse mortgages. Credit counseling can help them understand how these loans work."
While 79.4 percent of the respondents are retired, 10.5 percent work part- time jobs, nearly 5 percent work full-time and another 5 percent said they were looking for a job.
Most reverse mortgage lenders require homeowners to obtain counseling prior to receiving the loan. To qualify for a reverse mortgage, a person should have a significant amount of equity in their home and the home must be in reasonably good condition.
Although income and credit history are not considered in securing a reverse mortgage, CCCS believes it is critical for homeowners to review their entire financial situation during counseling. Reverse mortgage clients need to develop effective budgeting skills to meet periodic expenses, such as property taxes and homeowners insurance.
The survey was conducted in January by Consumer Credit Counseling Service of Greater Atlanta, Inc., a credit counseling agency that provides reverse mortgage counseling. The homeowners average 74 years old and have lived in their homes an average of 18.5 years. The average purchase price of their homes was $95,554 and the respondents said that the current value of their homes was approximately $221,997.
When asked the question, "What prompted you to obtain a reverse mortgage loan?" the responses were:
-- Budget too tight - 19%
-- Need more liquid assets on hand - 16%
-- Home repairs and maintenance - 15%
-- Provide care for dependents, pay medical bills - 8%
-- Pay property taxes and homeowner's insurance - 7.23%
-- Falling behind on monthly payments - 6.25%
A person must be 62 years of age or older to be eligible for a reverse mortgage. A reverse mortgage is a loan that allows homeowners to convert the equity in their homes into tax-free income without having to sell the home, give up the title, or take on a new or additional monthly payment. Loans must be repaid when the homeowner no longer lives in the home.
"We expect the demand for reverse mortgages to grow significantly as baby boomers reach retirement and need funds to meet daily expenses," said Sue Hunt, manager of reverse mortgage counseling for CCCS. "It is important for homeowners to educate themselves about reverse mortgages. Credit counseling can help them understand how these loans work."
While 79.4 percent of the respondents are retired, 10.5 percent work part- time jobs, nearly 5 percent work full-time and another 5 percent said they were looking for a job.
Most reverse mortgage lenders require homeowners to obtain counseling prior to receiving the loan. To qualify for a reverse mortgage, a person should have a significant amount of equity in their home and the home must be in reasonably good condition.
Although income and credit history are not considered in securing a reverse mortgage, CCCS believes it is critical for homeowners to review their entire financial situation during counseling. Reverse mortgage clients need to develop effective budgeting skills to meet periodic expenses, such as property taxes and homeowners insurance.
Tuesday, April 8, 2008
Boulder Flatirons Rotary battles Polio
Rotary's $100 million challenge
Your contribution will help Rotary match a US$100 million challenge grant from the Bill & Melinda Gates Foundation. The resulting $200 million will directly support immunization campaigns in developing countries, where polio continues to rob children of their futures and compound the hardships faced by their families.
As long as polio threatens even one child anywhere in the world, children everywhere remain at risk. The stakes are that high. By donating now, you can help Rotary achieve a polio-free world.
Your contribution will help Rotary match a US$100 million challenge grant from the Bill & Melinda Gates Foundation. The resulting $200 million will directly support immunization campaigns in developing countries, where polio continues to rob children of their futures and compound the hardships faced by their families.
As long as polio threatens even one child anywhere in the world, children everywhere remain at risk. The stakes are that high. By donating now, you can help Rotary achieve a polio-free world.
Thursday, March 27, 2008
Chautauqua Park in Boulder
http://www.chautauqua.com/
http://www.youtube.com/watch?v=Z0w6TfVwBdw&feature=related
These are links to Chautauqua Park and the flatirons rock formations, right next to Boulder. Great hiking, picnic spot. Music in the bandshell in the summer. Indigo Girls, John Hiatt, Nevilee Brothers. I'll post more info when the new schedule comes out.
http://www.youtube.com/watch?v=Z0w6TfVwBdw&feature=related
These are links to Chautauqua Park and the flatirons rock formations, right next to Boulder. Great hiking, picnic spot. Music in the bandshell in the summer. Indigo Girls, John Hiatt, Nevilee Brothers. I'll post more info when the new schedule comes out.
Friday, March 21, 2008
New Hope Cattle Dog Rescue of Colorado
my wife and I are foster parents for New Hope Cattle Dog Rescue. We're always looking for good foster homes and adopters. These were 2 pups from New Mexico, Brush and Yampa
Boulder, CO Chautauqua Park
http://www.youtube.com/watch?v=E1gMelsrP3g
great hiking trail in Boulder, CO near the CU campus. I go about 4 times a week, usually at 6:00 am with the pups (Cattle Dogs)
great hiking trail in Boulder, CO near the CU campus. I go about 4 times a week, usually at 6:00 am with the pups (Cattle Dogs)
Thursday, March 20, 2008
How to eliminate 7 Common Refinance Mistakes
1. Make Sure of Your New Interest Rate
Make sure that you save enough to justify the process of refinancing. It is best to decrease your interest rate by at least .75% to 1%. For example, this will save you about $100.00 a month on a $150,000.00 mortgage.
2. Know Your Closing Costs Up Front
By law, closing costs must be disclosed within 3 days of the loan application, however, there are different approaches to calculating them. Closing costs are initially estimated until the details of your specific loan are clear. It is wise to use a worst case scenario and be pleasantly surprised.
3. Be Sure You Fully Understand Your Reason(s) For Refinancing
Some refinance simply to reduce their interest rate. You should be aware that simply reducing your interest rate is not always to your advantage, so make sure that the gains from your rate reduction more than cover the related fees. There are, however, other legitimate reasons to refinance that may not be related to interest rates. Some are debt consolidation, home improvements, or a major purchase. Some of these choices may offer other financial or personal advantages, such as taking cash out to buy a car. In this example, you may be able to deduct your interest payments on your tax return. Always consult an accountant or tax attorney before making these types of decisions.
4. Beware of “APR” Advertising
“APR” stands for Annual Percentage Rate. Some mortgage brokers use “APR” teaser rates to get your attention, however, they may actually end up costing you more. Such rates are often derived by using a 30 year mortgage coupled with an accelerated payment plan. Most lenders allow you to select such a plan, if you chose. Know your actual interest rate that you will be paying when comparing mortgages.
5. Should I Consider an Adjustable Rate?
Adjustable rate mortgages or “ARM’s,” can be very helpful in assisting people into the housing market. They can help minimize your monthly payment, however, in the long run they can cost you more money if additional refinancing occurs.
6. Beware of the Quality of Service Provided
You want your refinance to be accomplished with as little hassle and in the shortest period of time. Ask your mortgage broker details of their service plan and performance guarantees.
7. Not All Mortgage Brokers are Created Equally
Be sure to ask your mortgage broker about all their available loan products, terms and rates. A subtle difference can save or cost you thousands.
Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure your mortgage, can cost or save you literally thousands of dollars and years of expense.
Get the Right Information - Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you be informed about the factors involved.
Everyday people turn to a mortgage lender to help them refinance a home loan, but because many of them don't know all of the important issues, they often make incorrect choices. By taking these few minutes to acquaint yourself with the "How to Avoid the 7 Biggest Mistakes Refinance Shoppers Make" you can reduce or eliminate the chances of making a critical error and save thousands on your mortgage.
Make sure that you save enough to justify the process of refinancing. It is best to decrease your interest rate by at least .75% to 1%. For example, this will save you about $100.00 a month on a $150,000.00 mortgage.
2. Know Your Closing Costs Up Front
By law, closing costs must be disclosed within 3 days of the loan application, however, there are different approaches to calculating them. Closing costs are initially estimated until the details of your specific loan are clear. It is wise to use a worst case scenario and be pleasantly surprised.
3. Be Sure You Fully Understand Your Reason(s) For Refinancing
Some refinance simply to reduce their interest rate. You should be aware that simply reducing your interest rate is not always to your advantage, so make sure that the gains from your rate reduction more than cover the related fees. There are, however, other legitimate reasons to refinance that may not be related to interest rates. Some are debt consolidation, home improvements, or a major purchase. Some of these choices may offer other financial or personal advantages, such as taking cash out to buy a car. In this example, you may be able to deduct your interest payments on your tax return. Always consult an accountant or tax attorney before making these types of decisions.
4. Beware of “APR” Advertising
“APR” stands for Annual Percentage Rate. Some mortgage brokers use “APR” teaser rates to get your attention, however, they may actually end up costing you more. Such rates are often derived by using a 30 year mortgage coupled with an accelerated payment plan. Most lenders allow you to select such a plan, if you chose. Know your actual interest rate that you will be paying when comparing mortgages.
5. Should I Consider an Adjustable Rate?
Adjustable rate mortgages or “ARM’s,” can be very helpful in assisting people into the housing market. They can help minimize your monthly payment, however, in the long run they can cost you more money if additional refinancing occurs.
6. Beware of the Quality of Service Provided
You want your refinance to be accomplished with as little hassle and in the shortest period of time. Ask your mortgage broker details of their service plan and performance guarantees.
7. Not All Mortgage Brokers are Created Equally
Be sure to ask your mortgage broker about all their available loan products, terms and rates. A subtle difference can save or cost you thousands.
Mortgage regulations have changed significantly over the last few years, making your options wider than ever. Subtle changes in the way you approach mortgage shopping, and even small differences in the way you structure your mortgage, can cost or save you literally thousands of dollars and years of expense.
Get the Right Information - Whether you are about to buy your first home, or are planning to make a move to your next home, it is critical that you be informed about the factors involved.
Everyday people turn to a mortgage lender to help them refinance a home loan, but because many of them don't know all of the important issues, they often make incorrect choices. By taking these few minutes to acquaint yourself with the "How to Avoid the 7 Biggest Mistakes Refinance Shoppers Make" you can reduce or eliminate the chances of making a critical error and save thousands on your mortgage.
Wednesday, March 19, 2008
How to Beat a Chapter 13 Bankruptcy
Finally, the Secret, New, Low Rate Program
That Gives Instant Relief From
Chapter 13 Bankruptcy!
Dear Friend,
Traditionally, homeowners who filed a Chapter 13 Bankruptcy have had limited options to lower their payments and otherwise improve their financial situation. Even if they had a perfect payment history under their bankruptcy plan, these homeowners were stuck for two, three, seven or more years until the plan terminated on its own.
Now, select lenders are willing and able to provide A+, low, single digit interest rate loans to homeowners still buried in their Chapter 13 repayment plans!
Since we started beta-testing our Chapter 13 Elimination program, we’ve helped more than 67 Chapter 13 homeowners to get themselves out of their bankruptcy plan, clean up their credit and move on with their lives years before their plan was scheduled to end!
By last count, we had saved our clients an average of $674.78 per month over 17 months, or a lifetime total average of $11,471.26 per client!
Of course, our program is not right for everyone. But over the course of our beta-test, I’ve found that the following are typical reasons why a Chapter 13 homeowner would be eligible for our program:
Fear of being unable to make the Chapter 13 payment and mortgage payment each month. After all, the whole purpose of filing bankruptcy was to give yourself relief and a fresh start, wasn’t it?
Frustration at watching the equity in your home increase almost daily, but being unable to use it as a financial tool to pay your Chapter 13, build up some savings, pay for the kids’ college, make home repairs, etc.
Why should you have to wait two, three or more years when your payment plan ends? How high will rates be then?
Being sick and tired of being under the thumb of a bankruptcy trustee, who eyeballs every dollar. Almost like a parole officer!
The unfortunate fact is that you’re just another case for the trustee, who administers probably hundreds of thousands of cases.
The trustee is responsible for making your payments on time, but in my experience, mistakes are made. So even if your payments to the trustee are timely, there’s no guarantee that the trustee is making its payments on time. Late fees and penalties can rack up even if they’re not your mistakes…but they cost you money!
Then there are other reasons why, once word leaked out about our new program (we’ve never advertised it before) our clients were willing to crawl naked over broken glass to our offices for help:
Embarrassment at being associated with the “B Word” (bankruptcy) knowing that their friends, neighbors, work associates were looking at them with pitying or judgmental eyes.
The emotional toll this is taking on you and your family.
Knowledge that you’re stuck in this situation, paying for your mistakes for another two, three or more years.
Worse, you’re paying for a situation that wasn’t your fault - something that happened because of one of life’s cruel jokes:
Unforeseen medical bills
Job layoff
Divorce
Business Failure
Other unexpected loss of income
Do you have any idea of the likelihood of completing your Chapter 13 Plan properly?
Industry statistics show that approximately 37% of people in a Chapter 13 complete it successfully. That means that a whopping 63% are dismissed for non-payment!
Frequently, early dismissal for non-compliance is the start of a very slippery slope for Chapter 13 Homeowners… their credit becomes irreparably ruined, their homes fall into foreclosure. It’s a huge hole to dig out of!
So how do you get yourself out of your predicament? Open up the yellow pages and go to just any bank, lender or mortgage broker?
That’s what some folks do. They make a choice based on some glossy, full page ad in the newspaper, phonebook or one of those real estate advertising books without a moment’s thought about the credentials of the person behind the ad.
But consider this: let’s say you need open heart surgery. Do you pull out a yellow pages directory and look for the doctor with the prettiest ad? Or a general practitioner who handles all cases? Or the doctor who says he’s the cheapest? (Please tell me you answered “no” to all of those questions!)
No. You’d go to a specialist, to ensure that you were getting the best care possible.
A Chapter 13 Bankruptcy is a unique, difficult specialty that I’ve chosen to immerse myself in. Why? Well, candidly, I could have picked any number of fields to go into. But my choice boiled down to this reason: I prefer to help people who need help the most. People who appreciate the skill and effort involved in helping them. People who didn’t have much hope before they met me.
To Get Out of Your Chapter 13 Bankruptcy
You Need Someone with
Insider Experience and Knowledge
I am an expert in helping people with Bankruptcies or other credit issues obtain single digit mortgage rates. I’ve developed an expertise in Chapter 13 buyout mortgage refinances. I’m a specialist, helping folks like you, day in, day out.
Here are some more of my credentials:
Over 20 years experience in the Financial Services industry
Local Resident (Boulder), Father of Three
Graduate of Seattle University (MBA) and University of Colorado - Boulder (B.S. – Finance & Accounting)
Do You Have These Questions?
Some of the more common questions are summarized below:
How Much Will this Cost Me? What are Your Rates and Fees?
Candidly, my time is worth a minimum of $350 per hour because I save my clients thousands of dollars, actually, an average of more than $11,000. But for now (and I will change my mind at some point in the future, probably without notice) I have decided to waive my consultation fee and charge nothing for a free, 30 minute consultation.
Of course, there’s only one of me and this Report is being offered to hundreds of people in your situation, so I can’t enroll everyone in our program. We can handle no more than 4-6 people per month because this is such a time-intensive process that demands a significant amount of our firm’s resources.
In terms of rate and fees, it’s impossible to give a meaningful quote without first examining your income, credit score, Chapter 13 payment history and other data. You’ve got to be wary of any quote given without regard for these factors!
How Long Does the Process Take?
Generally speaking, once I have everything in my processing department’s hands, we can close within approximately 10-12 business days. The key is getting everything we need, quickly: the appraisal, the payment history from the trustee, a copy of the Chapter 13 Plan and other specialized documents. Depending on the response time from the various third parties and your own response time, this preliminary information gathering can take a few days or more than one week.
That’s why we make sure our clients understand that we need the utmost, quickest cooperation from them. We rely heavily on their efforts in the information gathering process. We can’t do our job without your cooperation. And that’s why we admit only motivated clients into our program.
Do You Offer Any Guarantees?
Yes. We offer a closing cost guarantee unmatched by anyone we know of. Plain and simple:
We will pay you $1,000, no questions asked, if there is more than a $300 discrepancy between the Closing Costs on Your Settlement Statement and your Final Signed, Good Faith Estimate.
Details are provided in our application package, but this guarantee is designed to give you the comfort of knowing that we’re not one of those bait and switch predatory lending mortgage companies run by guys who talk and look like they were cast members of The Sopranos. (I promise: no pinkie rings!)
What do I Need to Get Approved?
You’ll receive a list of the necessary items in the application package. In short, we’ll need backup documentation to help us tell the story of what happened in your life that caused the bankruptcy. So if it was a divorce, we’ll need to see the divorce decree. If it was unforeseen medical expenses, we’ll need old bills or collection notices, etc. We’ll go over all this at the initial consultation.
What is the Next Step? What do I Need to Do To Apply?
As I said before, we only have room to accept a fraction of the recipients of our Free Report. If you’re at all inclined to take us up on our limited, free consultation offer, I urge you contact us immediately! I’m usually booked 2-3 weeks out, sometimes even months!
The office number is 303-440-6900. My assistant Phyllis can schedule your free, 30 minute consultation.
***Note - If you don’t want to take a chance that we won’t be able to fit you in, fax back the short qualification form I’ve inserted into this report: 303-443-3949.***
WHAT DO YOU HAVE TO LOSE?
Let’s review my offer to you. I’m offering a free, half hour consultation, a $175 value with me, a Mortgage Expert specializing in obtaining low, single digit rates for homeowners with bankruptcies or other credit challenges.
The biggest thing you stand to lose is related to the COST OF WAITING. If you’re struggling and want to cut your payments, you should act now before:
§ Your credit deteriorates;
§ Interest rates spike up;
§ You get stuck with more mysterious, non-accountable fees while in your bankruptcy; or
§ Home values drop.
Like I just mentioned, you could be racking up unfair, undeserved penalties and interest as we speak, even if you’re making your payments on time to the bankruptcy trustee! Who knows how good a job the trustee is doing keeping your payments on schedule? It’s not fair, but it happens, believe me!
Listen, I want to go over something else with you. Some people sit and listen to my advice, agree with it, but never do anything! These are the people who sink into further financial strife or worse, end up losing their homes.
Want to hear my theory on why they decide to do nothing? My theory will not win me a Nobel Prize. My explanation is: some do, some don’t. I know that’s not a good answer, but that’s just the way it is.
My challenge to you is: be one of the folks who “do.” Take charge of your life. Don’t sit around, moping that you’re a victim of circumstances. You’ve got a special opportunity to help yourself. Don’t be a “don’t.”
WHAT DO YOU HAVE TO GAIN?
By coming in to talk with me you can rest assured that we will examine your scenario in detail, outline a comprehensive plan to transform you from your current, gut-wrenching, stressful situation to peaceful, restful nights where you’ll sleep like a baby.
And, your ultimate security, if you decide to move forward with us, I’ll give you my No B.S. $1,000 Closing Cost Guarantee so you’ll have piece of mind from start to finish!
So you see, I can’t make this offer any more irresistible than it already is. I urge you to call us today 303-440-6900 or fill out the short form and fax back to 303-443-3949.
To Your Financial Freedom,
Bill Hendrick, MBA
Chapter 13 Elimination Specialist
Mortgage America *
1525 Spruce St. #201
Boulder, CO 80302
*Licensed Mortgage Brokerage Business
P.S. You’ve really got nothing to lose by calling us. The longer you wait, the more money you’ll flush down the toilet. Don’t wait for rates to increase, the housing market to cool off or your credit to drop! Call or fax your short form in today!
P.P.S. As of the date of this Report I have only [3] available consultation spots left. So if you’re motivated to change your life, don’t wait call now! If you don’t call today, you might be put on a waiting list. Don’t delay!
P.P.P.S. Of course, all inquiries are kept in the strictest confidence. The fax for your form goes to a private, secure fax machine.
That Gives Instant Relief From
Chapter 13 Bankruptcy!
Dear Friend,
Traditionally, homeowners who filed a Chapter 13 Bankruptcy have had limited options to lower their payments and otherwise improve their financial situation. Even if they had a perfect payment history under their bankruptcy plan, these homeowners were stuck for two, three, seven or more years until the plan terminated on its own.
Now, select lenders are willing and able to provide A+, low, single digit interest rate loans to homeowners still buried in their Chapter 13 repayment plans!
Since we started beta-testing our Chapter 13 Elimination program, we’ve helped more than 67 Chapter 13 homeowners to get themselves out of their bankruptcy plan, clean up their credit and move on with their lives years before their plan was scheduled to end!
By last count, we had saved our clients an average of $674.78 per month over 17 months, or a lifetime total average of $11,471.26 per client!
Of course, our program is not right for everyone. But over the course of our beta-test, I’ve found that the following are typical reasons why a Chapter 13 homeowner would be eligible for our program:
Fear of being unable to make the Chapter 13 payment and mortgage payment each month. After all, the whole purpose of filing bankruptcy was to give yourself relief and a fresh start, wasn’t it?
Frustration at watching the equity in your home increase almost daily, but being unable to use it as a financial tool to pay your Chapter 13, build up some savings, pay for the kids’ college, make home repairs, etc.
Why should you have to wait two, three or more years when your payment plan ends? How high will rates be then?
Being sick and tired of being under the thumb of a bankruptcy trustee, who eyeballs every dollar. Almost like a parole officer!
The unfortunate fact is that you’re just another case for the trustee, who administers probably hundreds of thousands of cases.
The trustee is responsible for making your payments on time, but in my experience, mistakes are made. So even if your payments to the trustee are timely, there’s no guarantee that the trustee is making its payments on time. Late fees and penalties can rack up even if they’re not your mistakes…but they cost you money!
Then there are other reasons why, once word leaked out about our new program (we’ve never advertised it before) our clients were willing to crawl naked over broken glass to our offices for help:
Embarrassment at being associated with the “B Word” (bankruptcy) knowing that their friends, neighbors, work associates were looking at them with pitying or judgmental eyes.
The emotional toll this is taking on you and your family.
Knowledge that you’re stuck in this situation, paying for your mistakes for another two, three or more years.
Worse, you’re paying for a situation that wasn’t your fault - something that happened because of one of life’s cruel jokes:
Unforeseen medical bills
Job layoff
Divorce
Business Failure
Other unexpected loss of income
Do you have any idea of the likelihood of completing your Chapter 13 Plan properly?
Industry statistics show that approximately 37% of people in a Chapter 13 complete it successfully. That means that a whopping 63% are dismissed for non-payment!
Frequently, early dismissal for non-compliance is the start of a very slippery slope for Chapter 13 Homeowners… their credit becomes irreparably ruined, their homes fall into foreclosure. It’s a huge hole to dig out of!
So how do you get yourself out of your predicament? Open up the yellow pages and go to just any bank, lender or mortgage broker?
That’s what some folks do. They make a choice based on some glossy, full page ad in the newspaper, phonebook or one of those real estate advertising books without a moment’s thought about the credentials of the person behind the ad.
But consider this: let’s say you need open heart surgery. Do you pull out a yellow pages directory and look for the doctor with the prettiest ad? Or a general practitioner who handles all cases? Or the doctor who says he’s the cheapest? (Please tell me you answered “no” to all of those questions!)
No. You’d go to a specialist, to ensure that you were getting the best care possible.
A Chapter 13 Bankruptcy is a unique, difficult specialty that I’ve chosen to immerse myself in. Why? Well, candidly, I could have picked any number of fields to go into. But my choice boiled down to this reason: I prefer to help people who need help the most. People who appreciate the skill and effort involved in helping them. People who didn’t have much hope before they met me.
To Get Out of Your Chapter 13 Bankruptcy
You Need Someone with
Insider Experience and Knowledge
I am an expert in helping people with Bankruptcies or other credit issues obtain single digit mortgage rates. I’ve developed an expertise in Chapter 13 buyout mortgage refinances. I’m a specialist, helping folks like you, day in, day out.
Here are some more of my credentials:
Over 20 years experience in the Financial Services industry
Local Resident (Boulder), Father of Three
Graduate of Seattle University (MBA) and University of Colorado - Boulder (B.S. – Finance & Accounting)
Do You Have These Questions?
Some of the more common questions are summarized below:
How Much Will this Cost Me? What are Your Rates and Fees?
Candidly, my time is worth a minimum of $350 per hour because I save my clients thousands of dollars, actually, an average of more than $11,000. But for now (and I will change my mind at some point in the future, probably without notice) I have decided to waive my consultation fee and charge nothing for a free, 30 minute consultation.
Of course, there’s only one of me and this Report is being offered to hundreds of people in your situation, so I can’t enroll everyone in our program. We can handle no more than 4-6 people per month because this is such a time-intensive process that demands a significant amount of our firm’s resources.
In terms of rate and fees, it’s impossible to give a meaningful quote without first examining your income, credit score, Chapter 13 payment history and other data. You’ve got to be wary of any quote given without regard for these factors!
How Long Does the Process Take?
Generally speaking, once I have everything in my processing department’s hands, we can close within approximately 10-12 business days. The key is getting everything we need, quickly: the appraisal, the payment history from the trustee, a copy of the Chapter 13 Plan and other specialized documents. Depending on the response time from the various third parties and your own response time, this preliminary information gathering can take a few days or more than one week.
That’s why we make sure our clients understand that we need the utmost, quickest cooperation from them. We rely heavily on their efforts in the information gathering process. We can’t do our job without your cooperation. And that’s why we admit only motivated clients into our program.
Do You Offer Any Guarantees?
Yes. We offer a closing cost guarantee unmatched by anyone we know of. Plain and simple:
We will pay you $1,000, no questions asked, if there is more than a $300 discrepancy between the Closing Costs on Your Settlement Statement and your Final Signed, Good Faith Estimate.
Details are provided in our application package, but this guarantee is designed to give you the comfort of knowing that we’re not one of those bait and switch predatory lending mortgage companies run by guys who talk and look like they were cast members of The Sopranos. (I promise: no pinkie rings!)
What do I Need to Get Approved?
You’ll receive a list of the necessary items in the application package. In short, we’ll need backup documentation to help us tell the story of what happened in your life that caused the bankruptcy. So if it was a divorce, we’ll need to see the divorce decree. If it was unforeseen medical expenses, we’ll need old bills or collection notices, etc. We’ll go over all this at the initial consultation.
What is the Next Step? What do I Need to Do To Apply?
As I said before, we only have room to accept a fraction of the recipients of our Free Report. If you’re at all inclined to take us up on our limited, free consultation offer, I urge you contact us immediately! I’m usually booked 2-3 weeks out, sometimes even months!
The office number is 303-440-6900. My assistant Phyllis can schedule your free, 30 minute consultation.
***Note - If you don’t want to take a chance that we won’t be able to fit you in, fax back the short qualification form I’ve inserted into this report: 303-443-3949.***
WHAT DO YOU HAVE TO LOSE?
Let’s review my offer to you. I’m offering a free, half hour consultation, a $175 value with me, a Mortgage Expert specializing in obtaining low, single digit rates for homeowners with bankruptcies or other credit challenges.
The biggest thing you stand to lose is related to the COST OF WAITING. If you’re struggling and want to cut your payments, you should act now before:
§ Your credit deteriorates;
§ Interest rates spike up;
§ You get stuck with more mysterious, non-accountable fees while in your bankruptcy; or
§ Home values drop.
Like I just mentioned, you could be racking up unfair, undeserved penalties and interest as we speak, even if you’re making your payments on time to the bankruptcy trustee! Who knows how good a job the trustee is doing keeping your payments on schedule? It’s not fair, but it happens, believe me!
Listen, I want to go over something else with you. Some people sit and listen to my advice, agree with it, but never do anything! These are the people who sink into further financial strife or worse, end up losing their homes.
Want to hear my theory on why they decide to do nothing? My theory will not win me a Nobel Prize. My explanation is: some do, some don’t. I know that’s not a good answer, but that’s just the way it is.
My challenge to you is: be one of the folks who “do.” Take charge of your life. Don’t sit around, moping that you’re a victim of circumstances. You’ve got a special opportunity to help yourself. Don’t be a “don’t.”
WHAT DO YOU HAVE TO GAIN?
By coming in to talk with me you can rest assured that we will examine your scenario in detail, outline a comprehensive plan to transform you from your current, gut-wrenching, stressful situation to peaceful, restful nights where you’ll sleep like a baby.
And, your ultimate security, if you decide to move forward with us, I’ll give you my No B.S. $1,000 Closing Cost Guarantee so you’ll have piece of mind from start to finish!
So you see, I can’t make this offer any more irresistible than it already is. I urge you to call us today 303-440-6900 or fill out the short form and fax back to 303-443-3949.
To Your Financial Freedom,
Bill Hendrick, MBA
Chapter 13 Elimination Specialist
Mortgage America *
1525 Spruce St. #201
Boulder, CO 80302
*Licensed Mortgage Brokerage Business
P.S. You’ve really got nothing to lose by calling us. The longer you wait, the more money you’ll flush down the toilet. Don’t wait for rates to increase, the housing market to cool off or your credit to drop! Call or fax your short form in today!
P.P.S. As of the date of this Report I have only [3] available consultation spots left. So if you’re motivated to change your life, don’t wait call now! If you don’t call today, you might be put on a waiting list. Don’t delay!
P.P.P.S. Of course, all inquiries are kept in the strictest confidence. The fax for your form goes to a private, secure fax machine.
Tuesday, March 18, 2008
NO MORTGAGE PAYMENTS - FIRST 6 MONTHS
WestAmerica is offering a new mortgage program to buyers.
Now you can move into your dream home without making a mortgage payment for up to the first six months with the Buyer’s Bonus Mortgage Program
With the Buyers’ Bonus mortgage program, you can purchase a new home (1-unit primary residence) and have the builder/seller agree to pay up to 100% of the principal and interest portion of your monthly mortgage payment for up to the first six months* of the loan term.
Eligible loan products include both fixed and adjustable-rate loans, 100% financing loans eliminating the need for a down payment, extended repayment terms (ex. 40-year loans) and affordable lending options for first-time home buyers.
You may also be eligible to take advantage of a reduced documentation loan processing type to help expedite the approval process. These options include the Stated Income/Stated Assets (SISA) option as well as No Income Verification (NIV) option, which are excellent options for self-employed borrowers. Eligibility to take advantage of these reduced documentation options is subject to underwriting guidelines.
Interested in learning more? Call today!
Bill Hendrick
WestAmerica Mortgage
1525 Spruce St
Boulder, CO 80302
Office (303) 440-6900
bhendrick@yourloanteam.com
For a FREE, No-Obligation, quote: Click Here!
Now you can move into your dream home without making a mortgage payment for up to the first six months with the Buyer’s Bonus Mortgage Program
With the Buyers’ Bonus mortgage program, you can purchase a new home (1-unit primary residence) and have the builder/seller agree to pay up to 100% of the principal and interest portion of your monthly mortgage payment for up to the first six months* of the loan term.
Eligible loan products include both fixed and adjustable-rate loans, 100% financing loans eliminating the need for a down payment, extended repayment terms (ex. 40-year loans) and affordable lending options for first-time home buyers.
You may also be eligible to take advantage of a reduced documentation loan processing type to help expedite the approval process. These options include the Stated Income/Stated Assets (SISA) option as well as No Income Verification (NIV) option, which are excellent options for self-employed borrowers. Eligibility to take advantage of these reduced documentation options is subject to underwriting guidelines.
Interested in learning more? Call today!
Bill Hendrick
WestAmerica Mortgage
1525 Spruce St
Boulder, CO 80302
Office (303) 440-6900
bhendrick@yourloanteam.com
For a FREE, No-Obligation, quote: Click Here!
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