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Saturday, October 27, 2007
10 Reasons Why You Should Be Using Postcards in Your Mortgage Business
10 Reasons Why You Should Be Using Postcards in Your Mortgage Business
You've done your due diligence and put together a great list of 50, or 100, or maybe even 500 contacts in your database. Now it's time to keep your name in-front of these folks so that they'll think of you when it comes time for them to make a mortgage decision.
Remember, about 1 in 6 contacts on your list will be making either a purchase and mortgage decision, or a refinance mortgage decision this coming year...and, every year there after. Even with a list of 50 contacts, that's about 8 mortgage opportunities for you in the months ahead.
What's the most effective way to do that? The answer: Set up your own unique postcard marketing system. Here are 10 reasons why you should be using postcards to originate mortgages:
1. Postcard marketing is very affordable. A year-long postcard marketing campaign to each name on your mailing list costs about $6.00 per contact per month.
2. Postcards are inexpensive to print. Use an Avery perforated postcard stock and print four cards from each 81/2" X 11" sheet. Each postcard will be 51/2" by 41/4."
3. Postcards are extremely effective. Because there's no envelope to open, your message is almost certainly read.
4. Postcard marketing is flexible. Send one type of postcard to your mortgage customer list, another to your professional list such as Attorneys, and another to your new contact list
5. Postcard marketing enhances your branding. A continuous postcard mailing campaign will effectively build your reputation and status as an expert in both mortgage and credit matters.
6. Postcard results are easy to track. Just send your postcard to a small group of people on your list, follow-up with them, and see how they respond. If you're satisfied with your results, then go for the larger mailing.
7. Postcard marketing is secretive. Unless you added the mortgage company next door to your contact list, your competition doesn't have a clue about the details of your marketing program.
8. Postcards are saved. Yes, many postcards do end up in the ultimate place of honor...the refrigerator door. Certainly a very fitting end to your well designed, colorful, and informative postcard.
9. Postcards can be redeemable. Promote a mortgage guarantee or a certificate towards either an appraisal or closing costs...and, have them return the postcard to you for redemption. The whole idea is to give people an incentive to save the postcard and do business with you.
10. Postcards are versatile. Postcards don't always have to be mailed. Use them as handouts, mini-information sheets, publication and book inserts, bulletin board items, and a host of other ways that promote your mortgage business.
Postcards can be a strategic tool to help grow your mortgage business. Design and implement your marketing program to include postcard marketing, and you'll forever reap the rewards.
Tom Domin is the author of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter that is geared for Mortgage Professionals. You can sign-up by visiting http://www.mortgagemarketingtoolkit.com/.Live Mortgage Leads
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You've done your due diligence and put together a great list of 50, or 100, or maybe even 500 contacts in your database. Now it's time to keep your name in-front of these folks so that they'll think of you when it comes time for them to make a mortgage decision.
Remember, about 1 in 6 contacts on your list will be making either a purchase and mortgage decision, or a refinance mortgage decision this coming year...and, every year there after. Even with a list of 50 contacts, that's about 8 mortgage opportunities for you in the months ahead.
What's the most effective way to do that? The answer: Set up your own unique postcard marketing system. Here are 10 reasons why you should be using postcards to originate mortgages:
1. Postcard marketing is very affordable. A year-long postcard marketing campaign to each name on your mailing list costs about $6.00 per contact per month.
2. Postcards are inexpensive to print. Use an Avery perforated postcard stock and print four cards from each 81/2" X 11" sheet. Each postcard will be 51/2" by 41/4."
3. Postcards are extremely effective. Because there's no envelope to open, your message is almost certainly read.
4. Postcard marketing is flexible. Send one type of postcard to your mortgage customer list, another to your professional list such as Attorneys, and another to your new contact list
5. Postcard marketing enhances your branding. A continuous postcard mailing campaign will effectively build your reputation and status as an expert in both mortgage and credit matters.
6. Postcard results are easy to track. Just send your postcard to a small group of people on your list, follow-up with them, and see how they respond. If you're satisfied with your results, then go for the larger mailing.
7. Postcard marketing is secretive. Unless you added the mortgage company next door to your contact list, your competition doesn't have a clue about the details of your marketing program.
8. Postcards are saved. Yes, many postcards do end up in the ultimate place of honor...the refrigerator door. Certainly a very fitting end to your well designed, colorful, and informative postcard.
9. Postcards can be redeemable. Promote a mortgage guarantee or a certificate towards either an appraisal or closing costs...and, have them return the postcard to you for redemption. The whole idea is to give people an incentive to save the postcard and do business with you.
10. Postcards are versatile. Postcards don't always have to be mailed. Use them as handouts, mini-information sheets, publication and book inserts, bulletin board items, and a host of other ways that promote your mortgage business.
Postcards can be a strategic tool to help grow your mortgage business. Design and implement your marketing program to include postcard marketing, and you'll forever reap the rewards.
Tom Domin is the author of "Tom's Mortgage Tips" a twice monthly Mortgage Newsletter that is geared for Mortgage Professionals. You can sign-up by visiting http://www.mortgagemarketingtoolkit.com/.Live Mortgage Leads
Voice Broadcasting
Live Mortgage Leads
Mortgage Lead Programs
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The Top 12 Commercial Mortgage Loan Problems To Avoid
This article describes 12 recurring commercial mortgage problems that commercial borrowers and their advisors need to anticipate before it is too late. The following problems are common in traditional bank commercial real estate loans and should be avoided if feasible (special circumstances will periodically make some of these terms unavoidable).
Key Problem Number 1:
Tax Returns versus Stated Income
Most traditional banks will require several years of tax returns in order to qualify for a commercial real estate loan. The alternative is to use a Stated Income Lender that does not verify personal income or assets. Many borrowers will simply not qualify for a commercial mortgage loan if tax returns are used due to high business expenses (and low net income). Many lenders using tax returns will also continue to verify income after the loan closes. Stated Income Lenders will not engage in this practice.
Key Problem Number 2:
Special Purpose Properties
It is becoming increasingly difficult to get commercial loans for special purpose properties. Properties that do not fall in the categories of apartments or retail/office buildings are often placed in this special purpose classification. This means that business acquisition loans for commercial properties such as restaurants/bars and auto service businesses are frequently hard to find. Commercial financing will be even more difficult to locate for such specialized properties as churches, funeral homes, nursing homes and assisted living facilities.
Key Problem Number 3:
Recall/balloon features
These terms are used by many banks to effectively shorten most business acquisition loans to 3-7 years.
Key Problem Number 4:
Short-term loans (less than fifteen years)
15-40 Year Commercial Property Loans without recall/balloon features are available.
Key Problem Number 5:
Up-front Commitment fees
Under most circumstances, commercial borrowers should not pay such a fee. Please note that processing/retainer fees are not included in this discussion of commitment fees. Processing/retainer fees should be viewed as an acceptable and standard business practice when dealing with commercial loans.
Key Problem Number 6:
Business Plans
Under most circumstances, commercial borrowers should not use a lender that requires a business plan.
Key Problem Number 7:
Cross-collateralization
Commercial borrowers should not be required to use their personal assets as collateral for a commercial property loan.
Key Problem Number 8:
Sourcing and seasoning assets. Seasoning of ownership.
This particular problem will not be relevant to all business borrowers. However, if it is relevant, you should seek out a lender without sourcing and seasoning requirements or limitations. Most banks have strict guidelines for sourcing and seasoning of assets or ownership to qualify for commercial real estate loans. For a purchase, commercial lenders will frequently want documentation about where the down payment is coming from (sourcing). Commercial lenders will also frequently have very specific requirements stipulating that the funds must have been in a specific account for a specific period of time, often 3-6 months or longer (seasoning). Seasoning of ownership is similar to seasoning of funds, except this requirement involves the minimum time someone has owned a commercial property before they can refinance the property.
Key Problem Number 9:
Requirement to sign IRS Form 4506
IRS Form 4506 authorizes the lender to obtain a borrower's tax returns directly from the IRS. This form is routinely required by most traditional banks and many other commercial lenders for a business acquisition loan. Commercial borrowers using a Stated Income Lender with Limited Documentation Requirements will avoid this requirement.
Key Problem Number 10:
Debt Service Coverage Ratio (DSCR) in excess of 1.2 for a business acquisition loan
The most flexible approach to DSCR for a commercial property loan will require a DSCR in the range of 1 to 1.2, with exceptions permitting a DSCR less than 1.
Key Problem Number 11:
Minimum commercial property loan size that is too high for your commercial mortgage needs.
It is not unusual to encounter a minimum commercial loan requirement of $500,000 to $1,000,000.
Key Problem Number 12:
Excessive length of the commercial real estate loan process
Many traditional banks require three to nine months to close a commercial mortgage. A more action-oriented commercial lender will close a commercial mortgage loan in 45 to 60 days.
For a free online six-part commercial mortgage course that addresses all of the problems described in this article, please visit http://steve.bush.googlepages.com/course or http://aexcfgllc.com for free enrollment information.
● © 2005-2006 AEX Commercial Financing Group, LLC ● All Rights Reserved ●
Steve Bush provides commercial financing assistance throughout the United States and focuses on more difficult commercial loans. He is the Chief Executive Officer of AEX Commercial Financing Group, LLC ( http://aexcommercialfinancing.com ) in Ohio. His toll-free number is (888) 593-3951.Live Mortgage Leads
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Key Problem Number 1:
Tax Returns versus Stated Income
Most traditional banks will require several years of tax returns in order to qualify for a commercial real estate loan. The alternative is to use a Stated Income Lender that does not verify personal income or assets. Many borrowers will simply not qualify for a commercial mortgage loan if tax returns are used due to high business expenses (and low net income). Many lenders using tax returns will also continue to verify income after the loan closes. Stated Income Lenders will not engage in this practice.
Key Problem Number 2:
Special Purpose Properties
It is becoming increasingly difficult to get commercial loans for special purpose properties. Properties that do not fall in the categories of apartments or retail/office buildings are often placed in this special purpose classification. This means that business acquisition loans for commercial properties such as restaurants/bars and auto service businesses are frequently hard to find. Commercial financing will be even more difficult to locate for such specialized properties as churches, funeral homes, nursing homes and assisted living facilities.
Key Problem Number 3:
Recall/balloon features
These terms are used by many banks to effectively shorten most business acquisition loans to 3-7 years.
Key Problem Number 4:
Short-term loans (less than fifteen years)
15-40 Year Commercial Property Loans without recall/balloon features are available.
Key Problem Number 5:
Up-front Commitment fees
Under most circumstances, commercial borrowers should not pay such a fee. Please note that processing/retainer fees are not included in this discussion of commitment fees. Processing/retainer fees should be viewed as an acceptable and standard business practice when dealing with commercial loans.
Key Problem Number 6:
Business Plans
Under most circumstances, commercial borrowers should not use a lender that requires a business plan.
Key Problem Number 7:
Cross-collateralization
Commercial borrowers should not be required to use their personal assets as collateral for a commercial property loan.
Key Problem Number 8:
Sourcing and seasoning assets. Seasoning of ownership.
This particular problem will not be relevant to all business borrowers. However, if it is relevant, you should seek out a lender without sourcing and seasoning requirements or limitations. Most banks have strict guidelines for sourcing and seasoning of assets or ownership to qualify for commercial real estate loans. For a purchase, commercial lenders will frequently want documentation about where the down payment is coming from (sourcing). Commercial lenders will also frequently have very specific requirements stipulating that the funds must have been in a specific account for a specific period of time, often 3-6 months or longer (seasoning). Seasoning of ownership is similar to seasoning of funds, except this requirement involves the minimum time someone has owned a commercial property before they can refinance the property.
Key Problem Number 9:
Requirement to sign IRS Form 4506
IRS Form 4506 authorizes the lender to obtain a borrower's tax returns directly from the IRS. This form is routinely required by most traditional banks and many other commercial lenders for a business acquisition loan. Commercial borrowers using a Stated Income Lender with Limited Documentation Requirements will avoid this requirement.
Key Problem Number 10:
Debt Service Coverage Ratio (DSCR) in excess of 1.2 for a business acquisition loan
The most flexible approach to DSCR for a commercial property loan will require a DSCR in the range of 1 to 1.2, with exceptions permitting a DSCR less than 1.
Key Problem Number 11:
Minimum commercial property loan size that is too high for your commercial mortgage needs.
It is not unusual to encounter a minimum commercial loan requirement of $500,000 to $1,000,000.
Key Problem Number 12:
Excessive length of the commercial real estate loan process
Many traditional banks require three to nine months to close a commercial mortgage. A more action-oriented commercial lender will close a commercial mortgage loan in 45 to 60 days.
For a free online six-part commercial mortgage course that addresses all of the problems described in this article, please visit http://steve.bush.googlepages.com/course or http://aexcfgllc.com for free enrollment information.
● © 2005-2006 AEX Commercial Financing Group, LLC ● All Rights Reserved ●
Steve Bush provides commercial financing assistance throughout the United States and focuses on more difficult commercial loans. He is the Chief Executive Officer of AEX Commercial Financing Group, LLC ( http://aexcommercialfinancing.com ) in Ohio. His toll-free number is (888) 593-3951.Live Mortgage Leads
Voice Broadcasting
Voice Broadcasting
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Mortgage Leads
Dont Wait, Avail Fast Cash Loan for Your Short Term Needs
You might have come across a situation when an unexpected cash requirement crops up in your life. You seek for a loan but cant afford because of high value collateral demand and high interest rates. In this helpless circumstances cash loan will be the best option to meet your short term cash needs.
Usually a short term cash loan is taken when an emergency comes at the time when you are over with your monthly finances and you cannot wait for your next months salary. A short term cash loan is the most apt choice at this situation. With this loan you can pay for urgencies like clearing education or medical bills, financing for holiday trip, celebrating an occasion or any other purpose that cannot be stayed behind.
Short term cash loans are meant for your urgent requirements, so they are readily available and can be availed in a quick and convenient way. You can get instant cash loan simply by filling an online application form. Your application form will be approved just by giving out small details about your employment details, credit history, identification proof etc. Other than that you are not required to give much information. Thus, the approval process is short and fast. Visiting lenders personally and contacting them kills a lot of time. Internet provides you links to various online lenders offering short term cash loans, thus saving your time and money.
Short term cash loans are available to all types of borrowers. These loans are usually provided without any credit check so bad credit and no credit holders need not worry about their qualification for the loan.
With a short term cash loan you will get an amount ranging from 80 to 1,000. The repayment term normally varies from 8 days to a month and can further extend depending upon your convenience. The lender keeps your post-dated check of the repayment in advance as collateral against the loan. This is obligatory because the lender needs some kind of security on their part.
Since cash loans are provided for short term, you might find the interest rate a bit higher. But with proper research, you can find a lender that will fulfill your fund requirement with interest rate and repayment suitable to your financial position.
Forget last minute mess, your urgent cash need will now be satisfied with quick and easy short term cash loans.
Olivia Maaret loans have recently began to play a strong part in deciding the financial future of general population. Olivia maaret can help you find the best loan at best interest rates. To find Cash advance loan, Short term cash loans, Online cash loan, Short term cash loan, Fast cash loan visit http://www.cash-loans-online.co.ukExclusive Mortgage Leads
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Usually a short term cash loan is taken when an emergency comes at the time when you are over with your monthly finances and you cannot wait for your next months salary. A short term cash loan is the most apt choice at this situation. With this loan you can pay for urgencies like clearing education or medical bills, financing for holiday trip, celebrating an occasion or any other purpose that cannot be stayed behind.
Short term cash loans are meant for your urgent requirements, so they are readily available and can be availed in a quick and convenient way. You can get instant cash loan simply by filling an online application form. Your application form will be approved just by giving out small details about your employment details, credit history, identification proof etc. Other than that you are not required to give much information. Thus, the approval process is short and fast. Visiting lenders personally and contacting them kills a lot of time. Internet provides you links to various online lenders offering short term cash loans, thus saving your time and money.
Short term cash loans are available to all types of borrowers. These loans are usually provided without any credit check so bad credit and no credit holders need not worry about their qualification for the loan.
With a short term cash loan you will get an amount ranging from 80 to 1,000. The repayment term normally varies from 8 days to a month and can further extend depending upon your convenience. The lender keeps your post-dated check of the repayment in advance as collateral against the loan. This is obligatory because the lender needs some kind of security on their part.
Since cash loans are provided for short term, you might find the interest rate a bit higher. But with proper research, you can find a lender that will fulfill your fund requirement with interest rate and repayment suitable to your financial position.
Forget last minute mess, your urgent cash need will now be satisfied with quick and easy short term cash loans.
Olivia Maaret loans have recently began to play a strong part in deciding the financial future of general population. Olivia maaret can help you find the best loan at best interest rates. To find Cash advance loan, Short term cash loans, Online cash loan, Short term cash loan, Fast cash loan visit http://www.cash-loans-online.co.ukExclusive Mortgage Leads
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