You can connect with me at www.TNRDHomeLoans.com. Our general topic is “VETERAN HOMELOANS-HELPING OUR MILITARY VETERANS PROSPER & BUILD WEALTH.”

If you have a question or comment and you’re on Twitter, make them to #TNRDHomeLoans or call me directly off the show at (615) 924-6215. You can call us while we are live at (901) 535-9732 or outside the Memphis area (800) 474-9732 Today May 27^th, 2017.

Today on RealEstate Mortgage Shoppe we are going to dispel some myths aboutVeteran Home Loans that have caused our valued veterans to miss outon getting the home they want. I will be covering little known waysyou can use the Veteran Home Loan to get started building wealth. Tom King, our expert appraiser will be sharing some great informationabout what to expect on a real estate appraisal. We have a specialguest, retired U.S. Navy line commander Peggy Lau with some storiesand a business tip for our real estate professionals.

Back in hisnormal seat at the microphone is Tom King, appraiser with Bill Kingcompany. Tom has been appraising homes in the Mid-South for over 40years. He even worked on the appraisal of Elvis Presley’s home. Tom, I think you have a virtual GPS , Google maps and Chandler RealEstate Report all built into one app inside your head. If you askTom, he can tell you about YOUR house AND your NEIGHBOR’s houseanywhere, anytime. (Tom has about 1 minute toshare about himself and what he does)

(Jo) Also,joining us around the table we have retired U.S. Navy line commander,Peggy Lau. Peggy serves as Executive Officer of Talk Shoppe,helping to make education and networking free to the Memphis areabusiness community. (Peggy introduces herselfand what she does with her travel business etc)

(Jo) Needless to say, all of us at this table are passionate about what wedo. What is it that YOU enjoy doing so much that, if you could, youwould do it for free? Most of our listeners know who I am that I lovewhat I do, getting my clients in the right mortgage program with agreat rate and terms they can brag about. The other thing I love todo and that is to spend time with my mortgage clients and the peoplewho refer them to me. This week and next we are helping our pastclients appeal their Shelby County TN real estate property taxes. Soif you got your postcard from me with the note that says “Call Me,”then call me or email me. (615) 924-6215 (615) 924-6215This email address is being protected from spambots. You need JavaScript enabled to view it.

(Tom Kingtalks about the market as he sees it and any other comments he wouldlike to make)

(Jo) Sincewe are talking about Veteran Home Loans and how military veterans canbuild wealth buying real estate, I want to share a story about one ofmy star veteran real estate investors. When John first started outhe bought a house in the city where he was stationed using a 100%veteran loan. He put together a plan to get wealthy during hismilitary career moving from station to station buying a house eachmove and keeping the other homes for rental income.

The challengethat threatened to shoot holes in his life plan was the fact that themore property he bought, the more specialized mortgage products heneeded since his VA eligibility was limited to one or two properties.He needed an experienced mortgage loan officer who could continue tocome up with additional mortgage loan programs that fit eachsituation, so he could continue buying properties at terms that wouldallow him to make money.

It has been ajoy and inspiration getting to work with John as his mortgageofficer. John continues to build his real estate portfolio. Sincehe has done so well with his rental properties, many of his housesare paid off and he no longer has to work. He is finishing up a longmilitary career. Now I see pictures on Facebook of John and his wiferegularly on a Carribbean Cruise, on a beach, in the mountains andother exotic places. Thank you, John, for your service to ourcountry. Kudos! to you for making your plan, working your plan, andwhen the deal worked for you, you did it.

(Peggy makescomments here)

(Jo) Mystar veteran real estate investor client knew how to break pastcommon myths a lot of veterans get stuck believing, not realizing thegold mine close at hand. But the VA loan is not the only gold mineavailable. My veteran customer, John, used the low down payment FHAloan, and different one example of myth variations of theconventional loan product—even cash.

Here’s somemyths veterans believe about the Veteran Home Loan program that cancause them to miss opportunities.

1. You can use your VA mortgage eligibility more than once.
2. You can have more than one VA loan
3. The VA mortgage can be used to by single-family homes, duplexes, tri-plexes and quadraplexes as long as the veteran lives in one of the units
4. The VA loan can be assumed by another party subject to the lender’s approval

Wewill cover more on the myth busters in more detail later in the show.

Tom,you are an experienced appraiser. What are some myths aboutappraising that you find are commonly believed by homeowners andhomebuyers? (Tom launches until 9:15)

LET’STALK SHOP—TALK SHOPPE’S BUSINESS TIP FOR REAL ESTATE PROS:

^2ndsegment after 9:15 advertising break – (producer to start the song“Taking Care of Business” by Bachman Turner Overdrive –butbring the volume down before the lyrics start) It’s time to talkshop with Talk Shoppe’s Business Tip For Real EstateProfessionals. Talk Shoppe is a marketing company offering freeeducation and networking to anyone interested in real estate or inbusiness. Talk Shoppe is made possible by the financial support ofits sponsors and advertisers. For more about Talk Shoppe, go towww.TalkShoppe.com (shoppe) For our Talk Shoppe Business Tip today we have Talk Shoppeadvertiser,PeggyLau, independent representative for World Ventures -DreamTrips. Peggy is living my dream, earning free, first-class vacations andgetting to enjoy them with a one-of-a-kind travel community thathelps make you money. Peggy, What is our Talk Shoppe Business Tip forReal Estate Professionals today? TS guest gives a 1 minute tip (Jo says, “Thanks, Peggy. How do we contact you?

QUESTIONSANSWERED BY PEGGY LAU:

1. What did you do in the military?
2. What got you in the travel business?
3. Share some personal stories of using the VA mortgage or military stories that go with what we are discussing.

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QUESTIONSANSWERED BY TOM KING

1. Talk about the mortgage/appraiser firewall
2. What type of appraisals do you do where people can hire you directly?
3. Share a story of when you have helped real estate cash investors determine of the property is really a good deal.
4. Types of repairs that are typically notated on the real estate appraisal. Which types are mortgage companies likely to require to be repaired before closing?

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QUESTIONSANSWERED BY JO GARNER:

1. WHAT ARE SOME COMMON MISCONCEPTIONS ABOUT THE VETERAN HOME LOAN PROGRAM?
2. Myth: The VA mortgage can only be used once in a lifetime. /Wrong- you can get a loan up to 4 times the amount of whatever VA eligibility you have left on your Certificate Of Eligibility. For example if you show $36,000 eligibility, then you are able to get up to $144,000 and if your income-to-debt ratios are acceptable enough, your eligibility can be expanded so you can get a loan up to $424,100. But if you have only used $15,000 of your eligibility to buy your first home at $60,000, then you still have some eligibility to buy another home later when you are ready to move from the old home to the new home.

1. You can have more than one VA loan. Just like the example above. If you have not used up all of your eligibility, you might be able to qualify for another VA mortgage. VA mortgages are for veterans planning to use the home as their primary residence.

1. The VA mortgage can be used to by single-family homes, duplexes, tri-plexes and quadraplexes as long as the veteran lives in one of the units. You can buy a multi-unit property, live in one unit and rent the other units to tenants. In many cases the rent from the other tenants can more than cover YOUR payment. With the rent income from the other tenants in the building, you may find it easy to pay off the mortgage early, saving tens of thousands of dollars.
2. The VA loan can be assumed by another party subject to the lender’s approval
3. You can refinance a VA loan on a streamline program without having to get an appraisal.
4. Veterans getting disability compensation for service-related medical issues are exempt from having to pay the VA funding fee that is normally added to the loan amount. Also, surviving spouses of veterans who died in the service or from a service related disability are also exempt from having to pay the VA funding fee and can, on a case-by-case basis, get a VA loan.
5. The maximum loan amount for VA loans is $424,100 for a single family, but the veteran can pay the difference between a higher home price and the maximum loan amount.
6. For more information about the Veteran Mortgage Program: http://www.benefits.va.gov/homeloans/resources_veteran.asp

1. Let’s you and I talk about YOUR plans to save on your mortgage costs or your plans to build your real estate portfolio. But you have to talk with me personally so I can work with you. You can connect with me at www.TNRDHomeLoans.com or call me directly at (615) 924-6215. MAKE YOUR PLAN, LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY!

REALESTATE TIP OF THE WEEK (Peggy Lau has 1 minute to share a tip for ourreal estate pros. If we have time, Tom can share a real estate tip.

ANNOUNCEMENTS: Please patch in theTalk Shoppe and sponsor announcement we recorded on 11-9-19

(Tom) 4. Thank you to all of our veterans. You served us. Its ourturn to serve YOU.

4.SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHERCERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ONANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS.THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL INNATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY.

4. FOR THIS PODCAST OFREAL ESTATE MORTGAGE SHOPPE AND MORE, GO TO JOGARNER.COM

5. Real Estate Mortgage Shoppe reminds you that MAKEYOUR PLAN, LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY,DO IT TODAY!.

QUOTE CORNER:

Arthur Ashe- “Trueheroism is remarkably sober, very undramatic. It is not the urge tosurpass all others at whatever costs, but the urge to serve others atwhatever cost.”

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REJOINDERS:

1. Lynn and Troy McDonald, Insurance Agents with Erin McDonald Insurance Agency (901) 849-7101
2. Jana Cardona, Executive Director of Business Network International (BNI) build your business by referrals www.bnimidsouth.com
3. Mary Lou Nowak, owner of Mid-South Home Helpers, West TN (non-medical assistance to help your aging or handicapped loved ones so they can remain happily and safely living in their own home.)

Transitional Music:

“America”by Neil Diamond; “Some Gave All” Billy Ray Cyrus; “GodBless The USA” by Lee Greenwood; “Taking Care Of Business”intro only (BTO)for Talk Shoppe Business Tip of the Week

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PEGGY LAU

Born& grew up in Detroit, Michigan. – Graduated from Wayne StateUniversity with a BS in Education

–Nationally rated basketball referee. Officiated the women’s FinalFour and championship games

–Taught at Durfee Junior High School

–Played on a World Championship softball team

–First woman to Graduate from the Detroit Fire Fighter Academy

–Joined the U.S. Navy. Hospital Corpsman, Pharmacy Tech, and retiredLine Commander

–Graduated from San Diego State University with a Master’s inEducation Training, Leadership, and Management

–Played on the All-Navy softball and racquetball teams

–Played on the All-Armed Forces softball team

–Senior Research Analyst Contractor for the USN’s Retention website

–Contractor, Senior Program Manager with oversight for 6 IT contracts

–WorldVentures member and Independent Representative

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ABOUT TOM KING, APPRAISER WITH BILL KING COMPANY

Tomis a well- respected and sought after appraiser in Memphis,Tennessee. He is a second generation appraiser with 40years experience. He has been elected to the Memphis AreaAssociation of Realtors Board of Directors three times.

Tom is acertified residential appraiser in Tennessee. He have appraisedover 20,000 homes in his career. A graduate from the Universityof Tennessee with a degree in real estate, Tom is also a CertifiedRelocation Professional (CRP). Tom also has vast experience indealing with the countyand state boards of equalization and in valuations of property fortax appeal purposes. (901) 487-6989

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ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

www.TNRDHomeLoans.com (901) 482 0354 This email address is being protected from spambots. You need JavaScript enabled to view it. twitter @jogarner NMLS# 757308

Jo describes her job description:“Asa mortgage loan officer, my job is to give my client the benefitsthey want from their financing terms– listening to my client anddetermine what’s of the most value to THEM– What is their comfortlevel on a house payment, how much are they comfortable paying down,what type of financing do they need to get the house they want to buyor refinance. Different clients have different priorities inlife—some are buying their first home with very little down paymentfunds. Some are recovering from medical challenges, divorces orpreparing to send children to college and some are embarking on along term goal of buying properties to build rental income. Whatevertheir personal priorities are, my job is to put together a mortgagewith comfortable terms that will help them achieve their goals.”

McKenzie Mortgage RD Loans isa mortgage officer with extensive knowledge in tailoring mortgages toher customers who are refinancing or purchasing homes all over thecountry. She offers conventional, FHA, VA or other loan programs forrefinancing and purchases.

Jo can helpyou look at rent vs buy, when it makes sense to refinance, how to getthe best deal on your home purchase financing.

McKenzie Mortgage RD Loans has been in the real estate/financing business for over 20 years. She got her start in Portland, Maine where she first began her realestate career. She received her real estate education from theUniversity of Southern Maine and was personally mentored in SanDiego, California by Robert G. Allen, author of NothingDown, CreatingWealth and TheChallenge.

On movingback to West Tennessee in 1987, she went into business buying andselling discounted owner-financed notes secured on real estate. In 1990 Jo went to work for a residential mortgage company and hasbeen a mortgage loan officer for over 20 years. Her goal is tooffer excellent, affordable service to her customers, tailoring theloan programs to the specific needs of her clients.

In addition to her work in the mortgagefield, McKenzie Mortgage RD Loans is the primary sponsor and founderof Talk Shoppe in Memphis. www.TalkShoppe.com Jo is host of Real Estate Mortgage Shoppe and currently publisheson her blog www.TNRDHomeLoans.com

PHOTO GALLERY FROM 5-27-17 REMS SHOW: