The process of choosing a lender is an important step in buying your home. Buying a home is the single biggest investment you are ever likely to make and your choice of professionals to assist you in that process requires some effort on your part. Not just choosing the lender who offers you the best interest rate over the phone. Here are some fundamental questions you may want to ask of any lender before you ask them to help you with the purchase of your home.

1. Can the lender be found in the National Mortgage Licensing System database and can the lender be found in the Arizona Department of Financial Institutions database?

Lenders are regulated and tracked nationally through a system known as NMLS. All loan officers are required as of January 1, 2010 to be registered within the system. In the State of Arizona, loan officers and their brokerages are also regulated by the Arizona Department of Financial Institutions. You can look up licensees in the AZDFI database.

2. Will the lender provide a list of past clients as references from whom you can get a testimonial?

You should ask the lender for references of past clients. Reputable lenders will have a reference list available. You should call these past clients and hear from them first hand what their experience was with the lender. Ask if their questions were answered. Ask if they were treated fairly. Ask them if the loan process was well explained.

3. Can the lender provide the names of past real estate agents with whom they worked?

Most lenders work closely with real estate professionals in funding real estate transactions. Find out what real estate agents think of the lender’s handling of the loan process. If you are having any difficulty locating the agent, you can find the contact information for Arizona real estate professionals on the Arizona Department of Real Estate’s website under the information for Consumers.

4, Is the lender a member of the National Association of Mortgage Brokers (NAMB) and the Arizona Association of Mortgage Brokers?

Both of these organizations are trade associations to which mortgage brokers and loan officers belong. You can a list of NAMB members on the NAMB website. The website for the Arizona Association of Mortgage Brokers also maintains a list of members in good standing.

5. Is the lender a member of the Southern Arizona Mortgage Lenders Association (SAMLA)?

Another trade organization is SAMLA. You can find a llist of their members on their website.

6. Can you find the lender on Linkedin and have you read their recommendations?

Linkedin is site for business professionals to network. You can establish a linkedin account for free. Under the profile section on the site, it is easy for Linkedin users to collect recommendations from people they have worked with. Go to Linkedin, search their name and read what others have to say about working with a particular lender or loan officer.

7. Have you searched the loan officer and their company on Google?

It’s amazing the things you will discover by googling the names of individuals. Just go to Google and search the name.

8. Have you looked for the lender on facebook?

Many lenders and real estate professionals are currently maintaining facebook accounts. You can see the dialogue that they are having with their clients and customers and even ask them preliminary questions about representing you in a real estate transaction.

Course Creators is an national education company. We receive no referral fees and have nothing to gain from whichever lender you choose to work with. This information is provided only for the purpose of assisting you in researching your potential lender in a real estate transaction.

The Department of Housing & Urban Development (HUD) has recently revised two of the primary disclosure documents used under the Real Estate Settlement & Procedures Act. As of January 1, 2010 lenders are required to use the new Good Faith Estimate form. The form differs from the old version in that it requires the lender to:

• Make basic informational disclosures about the loan product and its terms
• Provide additional information about the items for which the borrower is charged
• Not increase charges between disclosure and settlement within certain tolerances set by law

Click Here to Download the NEW Good Faith Estimate

HUD has also released a new version of the HUD-1 Settlement Statement. The new HUD-1 is similar to the original version on pages 1 & 2, however there is a new page 3 which integrates the Good Faith Estimate and the Settlement Statement so that borrowers can easily see what their original estimates were and what they are now being charged. The charges are not allowed to differ by more than the permitted tolerances.

Click Here to Download the NEW HUD-1 Settlement Statement

Newly revised for 2010, HUD’s latest publication related to buying a home is titled, “Shopping for Your Home Loan: HUD’s Settlement Cost Booklet.” It is a must-read for anyone who will be buying a home in 2010 (or beyond).

In spite of the title, the booklet doesn’t just contain information on how to shop for a home loan using new forms and an explanation of the settlement costs involved in a real estate transaction. The guide also contains valuable information on a variety of other topics related to purchasing a home. (It’s a whopping 4 Megabyte download!)

Click Here to Download the new booklet “Shopping For Your Home Loan”

Real Estate CE 3 Hrs. Contract Law

When it comes to your client purchasing a new home, you want to be certain that a lender will show them the money that will facilitate that purchase!  Let’s go behind the scenes and get a better  understanding of the lending industry as we may not know it in today’s market!  

Sponsored By:  Title Security Agency and Mylan’s Detail

Held At:  6390 E. Tanque Verde, Tucson, Arizona

1:00 PM to 4:00 PM – Friday, January 15, 2010

Do you ever wonder why your buyer client’s think they are going to get the keys at closing? Do client’s sometimes seem surprised that you are writing the contract rather than a lawyer? Is your seller upset because they will not be able to close using a power of attorney that they have used in many other situations?

Each of these problems stems from the fact escrow and title issues vry greatly from state to state. As real estate professionals we tend to forget that we live in a relocation area and that the closing and escrow process that they have been using in one geographic location is totally different from another. What if there was a way for you to find out exactly what process your client was previously familiar with so that you knew exactly what clarification and explanation you needed to give. Such an information does exist. It is located on a site called EscrowHelp.com and you should be using it to find out what escrow and closing processes were used in the state your client is coming from.

Just click on the Route 66 Icon to the right and the road will take you to an alphabetical listing of states. Look up  your client’s former state of residence and will know what process was used in that geographic location. Then in your client meetings you will exactly what education you need to provide without even having to answer the question. Your clients will be amazed that you know so much about their home state. Isn’t that what being a professional was suppose to be about anyway?

Any idea how much the world around us has changed?

Do you have any idea of the networks that are being built in social media?

Did you know that most of the major corporations have shifted money from traditional advertising to social media? Have you?

Do you know the last presidential election was won in social media?

This book will help you put everything in perspective. Understand what you need to know in order to be successful today and how the world of business has changed forever. Juliette Powell does a tremendous job of putting all of this into perspective in “33 Million People in the Room!”

We took the concepts of this book, applied them and ended up with a 3 hour class that will help you Get It! Use It and Become More Successful Because of IT!. The class is called “Catch the Social Wave”

If you have been wondering where your clients went, both this book and our class will tell you. You don’t have to wonder anymore. Find out where your clients went and how to get them back

Click on the image to the right and watch the video and you’ll decide that you can no longer wait to learn this information!

Are you concerned about how to really achieve your business goals in 2010?

Do you wonder if people are really making money using social media as a marketing tool?

Do you need to find new ways to save time and improve your efficiency?

Are you tired of the same old boring classes?

Do you want to know what other top professionals are doing to create success?

At Course Creators we believe that 2010 will be your best year ever. We are willing to bet that most of you made New Year’s resolutions that apply to your business goals, dreams and future. We know. We did that too. Just like you we struggle sometimes with knowing exactly what to do and how to do it when it comes to achieving success. So here is our New Year’s resolution:

“To do the best job ever to find out exactly what our clients need to get so that they can use it and become more successful because of it!”

Now here’s the fun and exciting part! Our New Year’s Resolution gives you a voice! It requires your help. Would you share with us what New Year’s resolutions you made about your business. What are you trying to improve? What are your goals?

If you’ll share your dreams we will do everything that we can to help make them come true!

Just click on “comment” below and leave your New Year’s Resolution!

Did you know that the average consumer is bombarded with around 3,000 advertising messages every day. Do you wonder whether your advertising and marketing have become invisible? Are you struggling with how you get a consumer to stop long enough to hear what you are saying?

These are the issues that Joe Vitale will help you understand to create more effective marketing messages and advertising that actually results in customers. If you don’t already know Joe Vitale you should. He is a prolific author, recognized as Mr. Fire and was heavily involved in The Secret. In addition Joe is a magician,  a hypnotist and has been studying those arts for quite some time.

Buying Trances is about the way that people function in everyday life and what you must do to “break the trance” and get them to listen to your message. There are  great business and personal psychology principles here. In fact, the subtitle to Buying Trances is  “A New Psychology of Sales and Marketing”

We found a lot of stuff here that made us rethink the way we were marketing and the messages we were sending. It’s a great read and you will find stuff you really need to know to grow your business.

Subdivision law can be complex and in Arizona failure to comply with it poses significant legal risks to the people involved in a real estate transaction. Contrary to popular opinion you don’t have to be a developer, a contractor or even create a lot line to get labeled a subdivider:

By law, A.R.S. 32-2101(54) states you are a subdivider if you own or have owned 6 or more lots in a single platted subdivision and offer any number of them for sale. All subdividers are required to obtain a Public Report(s) prior to offering lots for sale in accordance with A.R.S 32-2181 et seq. and Commissioner’s Rule R4-28-B1207.It is the act of selling that requires a Public Report, not ownership. There is no time limit connected with this. It makes no difference when you acquired or sold a lot. Upon acquiring fee title or an equitable interest in the 6th lot within a single platted subdivision, a Public Report is required prior to its sale.

You could purchase and sell 2 lots every five years and as soon as you acquire an interest in the 6th lot and offer the lot/lots for sale, you would be in violation if you did not obtain a Public Report.

This means that a bank or lender who forecloses on more than 5 properties in a single platted subdivision may be required to get a public report before offering REO properties for sale. ADRE has taken the position that this is the intent of the statute and has begun informing lenders of potential violations.

Violations of Arizona subdivision law is a felony and currently accounts for several disciplinary actions which you can find by checking the Arizona Department of Real Estate’s Bulletin.

Anyone who could potentially be labeled as an owner of 6 or more parcels should:

1.  Contact the Arizona Department of Real Estate’s Development Services Division

2. Read ADRE’s Red Flag Checklists concerning subdivisions

3. Review the ADRE Subdivision Brochure

4. Consult legal counsel about complying with the statute and potential liability.

Nothing in this blog post should be considered legal or tax advice. As with all complex real estate issues you should always consult a legal or tax professional for appropriate counseling and advice before taking any action.

One option that an Arizona homeowner may have if they are delinquent in payments and facing potential foreclosure is to short sell their home. A short sale means working with their real estate professional and their lender to try and get the payoff balance reduced so that the seller does not have to bring money to the closing table. These are complex transactions and homeowners should consult a real estate professional and seek appropriate legal and tax advice in such transactions. There are many options available. Homeowners in this situation are strongly encouraged to explore all potential options including all of the following:

1. Talk to your lender. There are many lenders who have created forbearance (forgiving part of the back payments and interest) or loan modification programs (to alter the interest rate or payments). Find out what your lender is willing to do before you decide to sell your home.

2. Rent the home. It may be possible for you to rent the home without resorting to the sale of it.

3. Contact the Pima County Community & Economic Development Department’s Foreclosure Prevention Coalition. They hold foreclosure prevention workshops, have a number of resources and may be able to help you keep your home. They even have a very detailed workbook called the “Arizona Foreclosure Information Workbook”

4. Consider bringing money to the closing table as the seller to pay your loan off in full.

5. Talk to a bankruptcy lawyer about the potential of filing for bankruptcy protection.

6. Surrender a Deed in Lieu to your lender in exchange for them releasing you from the liability.

7. Contact HomeOwner Assistance Organizations that offer help to distressed homeonwers. Here are a few of them:

• Hope Now
• Neighborhood Assistance Corporation of America
• Work It Out

8. Call the Arizona Foreclosure Help Line at 1-877-448-1211 for over the phone counseling.

These many only be a partial list of your options. Nothing in this post is meant to be construed as legal or tax advice and as with all complex homeownership issues you should always contact appropriate legal and tax professionals before taking action.

“Glimmer” has found its place as one of the most influential books I have ever read. I now believe that the subtitle “How design can transform your life, and maybe even the world” isn’t overreaching at all. Warren Berger will make you think about everything you do in a whole new light. Contained in the book is a whole new way of looking at the way we do things, from getting through the day, to selling products and services, to interacting with our clients. I wrote so many notes and margins on the sides and blank spaces in this book that it will take me a lifetime to implement and that’s sort of Berger’s point.

Business today needs massive shifts in the way we do things. This book will help you:

• Understand the importance of design and its underlying principles
• Design everything you do through the eyes of consumers and end users
• Refuel creativity and innovation
• Overcome barriers and create breakthroughs in your thinking
• Redesign you, your business and your life

I cannot recommend this book highly enough. Stuffed full of amazing insights, ideas and concepts. We need this to get to the next level.

You can find outt even more about Warren Berger and his thinking by visiting his site.

There is also a Glimmer Site which applies all of this thinking to selling, advertising, the marketing of various products and services.

Glimmer will help you understand that we do not live in an age of information overload, we live in an age of data overload. Raw data is what we are swamped with. For that data to rise to the level of information – for it to be informative – it must be organized, simplified, clarified and well, in a word, designed.