Real Estate Financing...

All the world was quiet, awaiting the start of the New Day.....and the God's winked....there was a little bright spot on the Sun today.

Like crikets, waiting....

A lapse hit, the Market...the one so many of us knew, was gone.  The confidence of our clients, our confidants, our co-workers, had hit rock bottom.  The almighty dollar helped to create the almighty medium that is the media...instilling fear where there is hope.  So, we waited & watched...watched & waited.  There was a time soon when we would have the vision to do neither, that time passed when our hesitation grew too long.

Competition was getting harder, yet my business was doing well.  Heck, I knew some of what I was competing against were scoundrels, yet then again...what Industry doesn't have them.  To make it a tad worse, the consumers bought into it.  They bought hard.  Perhaps they were sold it, even still, it was bought.  Somewhere inside me I think our Industry, our Economy, the People will pay for that!

Before I even entered that realm, that existence in which skimmed me by for so many years, I wanted to make sure I was up for the task.  If for one brief moment in time, I couldn't put up with the poverty, the success, the failures, I wouldn't quit per se....I'd just step away.  For me, doing things the hard way was and is my way.  Production=Pay....at least in theory.  This ain't 9 to 5 and we weren't getting paid by the hour.  We get paid by the Closing...Big Difference.

I guess I could of made things much easier....

When I worked in the restaurant industry, I used to jot down thoughts as they came to me.  As I worked in that industry, I knew it wasn't inherently for me or my brain or my lifestyle.  All I really wanted to do was find a more convenient way to make money in the Capitalistic World in which we lived.  I found that, quite rapidly in fact.   Personally, I never wanted to sell anything...I was in tune with a World where you wouldn't have too.  Then, I entered Sales.  My competition was to become Corporate America.  It was time to play the game...

It was bound to get out!

Hell, I honestly didn't even know what a Mortgage was at that point and had no clue of where a career outside of what I was doing was going to lead me....or I, it.  I knew I wanted to get out of the Restaurant Industry & into the Mortgage One...no matter what happened along the way.   It's scary to know who your competition may soon become....

I started out relatively innocent, pretty much a bastion of existence between having wings and going to die....

The Mortgage Ball

The night was silent, the silence....still.

I became what I wanted to be, it never mattered...the poet's pill.

It was bound to happen, in jest & in might.

Wrap your quarters around your thumbs, wrap your brain around my sight,

I wish you all a healthy and demon becoming Halloween "Freaking" Night!

Naive Is Good....

It used to be as simple as toilet papering somebody's abode to make it look like a Gas-Station Commode!  And then things changed in a rather odd sort of way.  Keep it simple stupid, break out the Korn!

The Community Action Committee of the Lehigh Valley is having a little party on Saturday, November 3rd...live at the Forte Building in Bethlehem.  Like any good party, there's a theme!  Here are just a few of the things that will be covered at this event:

Well, kudos to them because these are the very things consumers need to get a grasp on and be educated about all across our pretty darn good Nation.  I think this is fantastic, superb, wonderful, off the charts....A Great Idea.  Education, whether we are the consumer, or the professional, is vital to our evolution as we do this 'Human Being In Capitalistic America' thing we do.  As with most parties, there are hosts, guest speakers if you will.....

• An Attorney
• A Credit Counselor
• An Appraiser
• And Representatives of Government & Non Profit Agencies

Again, great idea and I'm all about Action, but I have one small little question Mr. & Mrs. Committee of the Lehigh Valley?  You are holding this event and have some important professionals there to educate the public, yet where's the Realtor, the Mortgage Company, the Title Company, you know....those people that are kind of vital and in the trenches of what goes on in Real Estate?  As much as I adore Attorneys, Credit Counselors, etc, call me old fashioned but the core of the process seems to be missing in what you are setting out to do.   My question is why are these components missing from the equation?  Seems to me that they would represent some of the more relevant and key ingredients to educate those who choose to attend.

Whether you are reading for the first time, last time, yet another time, this is the first politically correct post I've done since that Rye-Grass Experiment in College...I'd appreciate any and all input from the general population.

UPDATE!!!  I'd appreciate input on the post, not the Rye-Grass Experiment.  It was as stupid then as it is now, just gave me a reason to listen to Yanni & kill off a few plants and my grade point average:-)

There have been several questions posed by former clients, current clients, and perhaps future clients as to what the heck is going on in the Real Estate Industry.  I'll try to outline a few of those right 'freaking' now!  It should be pointed out once again that our beloved Media should be taken with a grain of salt.  I firmly believe they've earned it.  Listening & Reading the Media is like trying to shoot pool with a rope, I'll rant about them another time though.  Here goes some questions that have come my way.....

Is 100% Financing Still Available? - You are damn right!  Very much so!!  That hasn't been affected by the market we so often hear about....

I just bought an investment property and am a newbie at Real Estate Investing.  Can I do a cash-out Refi?  Probably not, based upon the recently appraised value at least.  The products just aren't out there to liquidate your investment.  Hold onto to the property for a bit and re-think your exit strategy.  As with any investment, there are right and wrong times to buy....hold on to it and make it right at a later date.  Investing is like life, patience is often times a virtue.

I have an adjustable rate coming up, what should I do?  Contact a Mortgage Professional that you trust and hear out your options.  Guidance is just as much a part of your plan as short-term solutions.  Evaluate both, and stick to a plan that makes sense for you and your family.

Rates are high, when are they coming down?  We are spoiled brats!  Rates are still very low, yet we fail to take advantage of that fact because we've been fed so much manure for so long.  Let me clue everyone in on something, it's not only the rate that allows you to afford a house, it is you.  People will always buy houses and need money out of the equity they have, regardless of the rate.  If you think an interest rate of 6.25% is high on a 30 year mortgage...congrats, you are a renter!

There is too much Paperwork Involved, we are better off where we are at, aren't we?  Well, let's look at the pros and cons of what you are doing.  As far as paperwork, yeah, it does get a bit ridiculous at times.  Yet, this isn't a Pay-Day Loan, this is a mortgage on your home.  It's a financial decision that can very much affect your Capitalistic Life.  Go to your local bank and then come back to me...see what you get.  I already know.....a large % of the time, I will give you a better deal.  But enough of me, it's about you.....

And you are important and have questions that we have the answers too!

I am Jason Sardi, I do Mortgages of all kinds for a living.  I also occasionally write.  Either way,  if you want your Real Estate Financing Needs taken care of, I'm your guy.  Or....I could make one hell of a drinking buddy.  You want the truth, ask me a question.  As far as the Market, it's more ALIVE than you think...

I've got to admit, it sounds stupid.  Not the quote from Peta Wilson, but the title of this post.  I mean, come on, who on God's Green Earth would fear success...when most strive for its very existence?  There is a laundry list actually.....actors, musicians, professional athletes, professional wrestlers, and your neighbor down the street who was keen on 'Being The Man' but uncomfortable with the concept of 'Staying The Man.' If you want to succeed in life, you've got to fail by being yourself.  And to you women out there, I only used the term 'Man' loosely....I should of just used the term human being.  Well, from a man, I have feared success for the better part of 31 years.

Why did I fear.....BECAUSE!  I just have.  Notice that's the past tense, I don't anymore...or won't anymore, whatever the reality.  I have covered my eyes as I cried, closed my lips as I smiled, run to a corner when I wanted to hug....but you know what?  Yeah, you know....I hope.  It's B.S., this fear.  We all have choices....to remain on the sidelines or to play the game. 

The game is actually simple, as is success.  Throw yourself to the wolves, let them eat you alive....then step back and watch as you heal.   I admire and advocate planning and learning, yet true Success requires you and a whole lot of failure getting there.  The fear of Success is good, it's like having butterflies before the big game.  You've got to be at your best every step of the way.  That goes for our physical world, emotional world, spiritual world, and any other WORLD you may have.  Of course, that's just my opinion...

which brings me to my point.  Yes, every once in an off colored moon, I have one.

This has been stirring in the breeze around this forum, this culture, & every high-school gymnasium on the Somewhat Green Earth we live on....Popularity.   Well, to keep it somewhat simple, I'd like to concentrate on whether or not your Blogs are popular...or not so much.

I've asked the question, been asked the question, and wrote lousy posts just to see....and I think I might have the answer.  Do you want your posts to be 'Popular.'  Do you want to stick out in a crowd?  Do you want to be the next 'Popular Blogger.'  Tell you what...don't fear that success by bitching about why you've failed to become that.

Some blog strictly for business, some strictly for professionals, some for whatever reason at all.  Blogging is not only about gaining an audience, but keeping it....whatever your particular focus may be.  It isn't so much about comments or stars or anything like that, as much as it is about showing you to whatever selected audience you are going after.  Your knowledge, your empathy, your wisdom, your mistakes, your life, your losses, & whole bunch of stuff that may be able to help other people.  If they can identify, they will come.

Now, that said, I'll be honest....I've thought about it.  I remember the days very astutely when I wrote a post here on AR and nobody commented, it wasn't featured, and if it was...got 7 comments or so.  I felt slighted to an extent.  That was pride screwing with me.....Watch Pulp Fiction, you'll understand.  Do you want to be popular or do you want to live your life?  I don't buy the hype now and I certainly don't want the change if I bought into it back then. 

I know....this here post is supposed to help you become popular....so I should try to help REALLY do that before I leave the keyboard.  So, here it goes.  You want to be popular, be featured, be sought after & alive because they recognize you....I've got the key.  Buy my 'No Money Down Popularity System' and reap the rewards of its existence, there is a 30 day Money Back Guarantee.  Or, you could do it the old-fashioned way........EARN IT!

Ok, I got to be careful here.  God forbid somebody reads this and hates me forever.  I learned a long time ago and it has been written here, that beware of what you write in cyber space, you never know who may be reading.  So, I'll try to be subtle, I'll try to be diplomatic, I'll try to make popularly parsimonious statements that help Real Estate Professionals and the people.  I will try my hand at political correctness, I want to make sure whoever is reading doesn't get the wrong idea.

Real Estate Professionals can be IDIOTS!  When there is a paycheck flashing in front of your face like a carrot on fine wire, its human nature to reach.  I got a call today from a gal that was reaching....and I felt kind of bad telling her the truth.

Years ago, I made a crucial mistake.   One that I won't make again.  A friend referred a couple of co-workers to me and based on their application and credit, I handed them a pre-approval letter.  It was a sketchy deal but I knew it could be done and wasn't overly confident they were buying anytime soon.  I figured, with a little direction, they would be in a better place when the time was right.  Silly me, two weeks after their application, a sales agreement was signed and I was on the hook to make sure they were taken care of.  I gathered the documentation and facts behind their application and soon found out that I'd be lucky to get them a loan at all.  By the way, I make mistakes, that was one of them.  We closed their loan but I'll never put my clients or myself in that position again.

Today's phone call was from a Realtor who referred me a deal.  I consulted both parties on what needed to be done to have the client qualify for the type of financing they would need to get them in the house.  Collections needed to be paid off and documentation needed to be in my hands, it was a work in progress in my estimation.  I thought I made that clear.

Yet, I was asked by the Realtor if I could hand her a pre-approval letter on this client.  I reminded this Realtor of the situation and told them that me giving a pre-approval letter would be a slap in the face to any seller encountered.  After all, this client isn't pre-approved...........not yet at least.

I told the agent I wasn't going to get anything over to them without having the documentation to back up what I could do for the buyer.  I told that agent, "I can send you over a Pre-Approval letter with contingencies out the behind and more holes than a Whiffle-ball.  Or, we can abide by patience and make sure the buyer can be properly financed?  Your choice?"

The agent said they would get back to me and haven't.  SHOCKING!  Without a Good Faith Estimate (encompassing the costs associated with the loan you are taking out) and a Lock-In Agreement (Locking in the Interest Rate you were quoted), the terms and price of your loan are suspect.  Regardless, make sure you can get a loan in the first place, make sure the Pre-Approval you've been given doesn't have all those holes.  The terms and price of your loan is based upon the accuracy of your application and approval.  I like paychecks, but I'll never make a mistake like I did then, again.  Go look at houses, I'll make sure you can get financing and we'll make sure it is affordable.