MORTGAGE FRAUD HEADLINES IN THE NEWS!

This morning, as I settled in to my cup of coffee and turned on the TV, I listened to the comments on Senator Ted Kennedy's passing, the first day of school chatter and then WHAM! MORTGAGE FRAUD INDICTMENTS IN CLEVELAND!
I woke up very quickly and it had my full attention. This kind of news always gets my attention and it is too few and too far between.
I was familar with some of the names mentioned. I think there are 45 people
indicted in this wave. Bridget, my title officer and I just shake our heads.
We have known for years this was happening. Our customers would want us to do the title work. We would look at the paper work and tell them what they were getting themselves into was a scam and we would have no part of it.
Within a week or two we would see on the records that another title company had "closed" it.
I think independent title agents are the "watch dogs " of the real estate industry. Most of this fraud would not have happened if the mortgage brokers did not own the title agency that looked the other way and closed them. This ownership is not illegal.Law permits them to be in the title business. It's like hiring the fox to guard the chicken coop!
COnsumers have the power to choose the title agency to handle their transaction. The role of the title agency is to insure the title and conduct the settlement as a "disinterested 3rd. party".
I can't imagine why consumers would want it any other way.

REAL ESTATE SURVIVAL - BEHAVIOR NEVER LIES!

How often we put too much stake in others "words" or we say "we will" and then "we don't"!
Actions do speak louder and truer than words!
My friend and mentor, Richard Flint tells us like it is:
What you really feel about you is defined
with your behavior.
Back to those three little words – Behavior Never
Lies! I can’t get away from them because there is so
much wisdom, so much power in that one thought.
Words are description; behavior is an acted out
definition. Words create a story; behavior acts out
the play. Words make a sound for people to listen to;
behavior paints a picture for people to study. Your
life really is defined by your behavior and remember,
behavior can’t lie!
Remember, you are exactly where you want to be.
reccomended reading: Richard Has written a book "Behavior Never Lies" - available at amazon.com - It could change the way you hear and see others.

BEAUTIFUL WEDDING - TIME TO GET BACK TO REAL ESTATE!

It's not easy to settle back into the work day routine after so much of my Granddaughter, Ashley's wedding involvement. It was wonderful!
My mind is now back to the real estate market, which is improving a lot this month.I keep reading the national housing reports, but I only believe what I see in my own backyard and the scenery is looking much better.We love happy buyers and sellers!
I also notice a problem of anxious sellers accepting offers from buyers who "think" they can get a mortgage, but can not and the deal "bombs". BAD for everyone involved.
I called an old friend, Roy Buser, a Mortgage Account executive with First Merit to get his opinion. He agreed whole heartily that many buyers are looking before they know if they CAN qualify.
He offered this advice."If you have the proper and candid conversation with your bank PRIOR to looking at home or engaging a pre-approval then the process will go well;the pre-approval will go well, the purchase agreement will be written well, the financing will go well, and the closing will be smoother. Better planning starts with the proper conversation with a lender first".
I also talked with RE/MAX Classic Manager, REALTOR Mary Early, she tells those who want to see homes to first talk with a lender to learn the whole story, get pre-approved and then, she will find them a home they can love and afford.The pre-approval certificate is proof they are a real buyer.
Realtor Suzanne Anton from The Realty Store agrees:"Pre-approval is essential before an offer is accepted "
The BIGGEST MISTAKE I see FSBO sellers making is accepting offers on the "buyers word" that they can get a mortgage and in reality, they haven't even talked with a lender.
There is nothing much more stressful than thinking the property is sold and in the end it "BOMBS"! This market is improving and it can get much better if buyers, sellers and agents set standards and stick to them.
Get Ready: Lender pre-approval
Get SET: Find your house.
Go: Complete your deal with a stress-free closing.
It can be as simple as 1-2-3!