Lack of Liquidity: The 800 pound gorilla that can crush you!
People don’t keep enough of an emergency fund, and it creates crisis situations when something unexpected happens.
- Car repair
- Medical issue
- Hospital/Doctor bills – especially with higher deductibles
- Time missed at work
- Major house repair
- Roof
- People live on the edge of their budget.
- Common when people buy a new home. They want to start making changes right away, before they can really afford it.
Big Lenders Still Losing Business: We discuss a recent article that shows the biggest banks are seeing their mortgage volume shrink to 25% of their 2013 numbers. Here are the biggest reasons why:
- Customer Service
- Consumers despise big lenders – bailouts, conglomerate
- Feel like you are just a number
- Losing purchase business
- No one trusts them when buying a home.
- Realtors will never refer them
- Why is it important that Realtors don’t refer them?
- Realtors paychecks are tied to transactions closing smoothly. They know through extensive experience which lenders close loans on time and with competitive pricing.
- Property information – square footage, bedrooms, bath
- Schools, Libraries
- Unemployment rates
- Environment hazards
- Homes for sale near the property
- Foreclosures near you
- Fair Market Rent
- Crime stats
- Sex Offenders
- Drug Labs
- Police Stations, Fire Stations, Hospitals, Airports
- Natural Disaster Risk
- Earthquake, Tornado, Hurricane, Hail Storms
- Building Permits
- Census Data
- Housing Census Data
Audio:
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