Strategies for Staying Safe & Sound with Your Home and Your Home Mortgage

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Strategies for Staying Safe & Sound with Your Home and Your Home Mortgage

Today we will be sharing some ways home buyers andhomeowners have used wise strategies to keep themselves safe with their homeand with their financing.

You will getsome good-to-know tips about home warranties and home inspections. I will be covering some ways to reduce oreliminate some borrowing costs on your home financing.

WELCOME TO REAL ESTATE MORTGAGE SHOPPE!

Good morning, Memphis! Welcometo our internet listeners and podcast listeners across the 50 states! You’re onReal Estate Mortgage Shoppe. I’m your host, McKenzie Mortgage RD Loans, Mortgage LoanOfficer. You can connect with me at www.TNRDHomeLoans.com. Our generaltopic is Strategies For Staying Safe & Sound WithYour Home And Your Home Mortgage- Subscribeto get Real Estate Mortgage Shoppe podcasts with show notes at www.TNRDHomeLoans.com Call us whilewe’re live today February 29th, 2020 at (901) 535-9732.

INTRODUCING BRANDON THOMPSON, HOMETEAM INSPECTION SERVICE

In the Real Estate Mortgage Shoppe studio we have, back by populardemand, Brandon Thompson of HomeTeam Inspection Service. Brandon, my clientsand referring partners love what you dofor them on their home inspections. Takea moment and tell our listeners a little bit about you and what you do for themat HomeTeam Inspection Service. (Brandon has a about 45 secs to introducehimself and talk about the services he offers)

INTRODUCING CHRISTY STOKES, CHOICE HOME WARRANTY

(Jo) Also,in the studio for the very first time we have Christy Stokes of Choice HomeWarranty. Christy, you are well-known and well-loved in our real estatecommunity. You serve your customers withexcellence. You are engaged with so many of the realtor events too. Take amoment and introduce yourself and talk about what you do at Choice HomeWarranty for your clients. (Christyhas about 45 seconds to introduce herself and talk about the services sheoffers her clients )

(Jo) I haveserved my clients as a mortgage loan officer for over 25 years. These clients have taught me A LOT! Let me share with you one of theseastounding truths about how they set up Safety and Security in their finances. These people diligently and daily workedtoward eliminating debt and plowing more of their income into investments andan emergency fund. Today they enjoy livingfinancially free.

Later in this show I plan to share with you some genius strategies someof my clients have been able to blast through real barriers to whack off thousandsof dollars in borrowing expenses and stack up more and more cash and investments.

But for right now, let’s explore Ways ToKeep Thousands Of Dollars In Your Pocket Using These Three Home RefinanceStrategies :

#1 Refinance To A Lower Rate-Let’s look at how much money you get to keep by justrefinancing your existing mortgage to a rate much lower than you are payingnow? If you are paying less intereston for your mortgage for the entire remaining term, how many thousands ofdollars can you save?

#2 Refinance To Lower Your Rate AND Shorten YourMortgage Term-Let’s look at how manythousands or tens of thousands of dollars you can save if you refinanced yourhome on a lower mortgage rate with a shorter term? Talk about burning the debt candle down bylighting both ends! It would be like taking some giant scissors and justcutting off a chunk of your mortgage payments. Picture this….Living life with no mortgage payment just a few years fromnow.

#3 Refinance Combining Your Into Your Mortgage OtherHigher Interest Rate Debt- Let’s lookat combining some of your higher interest rate debt into one mortgage with a lowfixed interest rate cutting the interest over all of your debt. Thenlet’s put in place step two to set up automatic prepayments every monthfrom some of the savings you got from the refinance to go toward paying yourmortgage off in less than 10 or 15 years. Imagine what it would feel like to get up every day DEBT FREE?

MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY,LET’S DO IT TODAY. Connect with me at www.TNRDHomeLoans.com. Email me at This email address is being protected from spambots. You need JavaScript enabled to view it. or just call me at (615) 924-6215.

(Jo) Brandon Thompson of HomeTeamInspection Service and Christy Stokes of Choice Home Warranty, before we go tobreak, let’s launch into some of the great wisdom you have to share with us.(Brandon and Christy start launching into theirtopics until the 9:15 AM break..)

You’re on Real Estate MortgageShoppe. I’m your host, McKenzie Mortgage RD Loans, Mortgage Loan Officer. What do YOU want to accomplish with yourmortgage? Make your plan. Let’s work your plan if the deal works for you today,let’s do it today. When we come back BrandonThompson and Christy Stokes will be giving you more of the inside scoop on homeinspections and your home warranty. . See you back in just a moment.

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THE LOOKBACK MEMPHIS TRIVIA CONTEST

2nd segment after 9:15 break: Our Look BackMemphis Trivia Contest is brought to you by notable Memphis historian, Jimmy Ogle. Twelve of his Memphis History lecturesentitled Making Memphis – Storytelling by Jimmy Ogle may be viewed byGoogling “JIMMY OGLE PINK PALACE”. Viewat JimmyOgle.com. . The Look Back Memphis Trivia Contest is sponsored by John and Jennifer Lawhon ofLawhon Landscape (901) 754-7474 the Lawhon’s can help you plan your landscapingif you have a BIG, BIG project or a smaller project or you can do the bigproject in phases . The Lawhons are giving away a $25 gift card to the firstperson with the correct trivia answer. If you know the answer to our trivia question, call us at 901 535 WREC901 535-9732.

Garner # 173 * 02/29/20

EdmundOrgill

Question: Ihave a large park in Shelby County named for me. Who Am I?

Hint: I was Mayor of the Cityof Memphis from 1956 to 1959.

Hint: I was the first Mayor notbacked by the Crump political machine to be elected in Memphis.

Hint: I helped begin to ease theCity with desegregation of public places in the late 1950s.

Final Hint: My family name has been in business since 1847– the oldest in Memphis! Who am I?

Answer:EdmundOrgill. In 1955, Edmund Orgill became the first Mayor of Memphis elected withoutthe backing of E.H. Crump in almost five decades. During his administration (and afterwards),Orgill was key in convincing the Memphis business community to peacefullydesegregate department stores, parks, libraries and eating establishments.

Founded in 1847, Orgill Brothers & Co. is Memphis’s oldest operating business. The hardware distributor wasfounded when the City was yet thirty years old and with a population only about7,000 citizens. The Orgill name is legend in Memphis and has become asynonymous term for “hardware”.

Edmund Orgill Park and Golf Course, located on thenorthern side of Millington, covers 268 acres with a 6,436-yard, Par 72,18-hole golf course, in a peaceful rural setting alongside 67-acre Casper Lake(with boat launching ramp); an 18-hole Disc Golf Course; and three pavilionsand a football/rugby field.

Bonus: Jimmy Ogle will be giving four distinct tours of ElmwoodCemetery on Saturday, April 25. To register, call 901-774-3212 or go toelmwoodcemetery.org.

Jimmy Ogle has retired from walking tours in Memphis. Twelve of his Memphis History lecturesentitled Making Memphis – Storytelling by Jimmy Ogle may be viewed forFREE on the internet by Googling “JIMMY OGLE PINK PALACE”. View JimmyOgle.comfor more info!

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Covered in end of first segment right before (9:15 breakand after Trivia Contest in the second segment before 9:30 Fox News)

TOPICS COVERED BY BRANDON THOMPSON, HOMETOWNINSPECTION COMPANY

  1. DrainageProblems —
  2. Roofing
  3. Systems-Plumbing, Electrical, HVAC
  4. Foundationand Structure (rotted wood, termite damage, foundation problems)

(Added hot spot is the swimmingpool for certain properties)

  • Whatsets you apart as a home inspector?
  • How much does it cost to get a home inspected?
  • How long does it take for the inspection and howlong does it take to get the completed report?
  • Whatare the advantages of getting a home inspection?­­­­­­­­­­

TOPICS COVERED BY CHRISTY STOKES, CHOICE HOME WARRANTY

  1. Homeinspection vs home warranty, what’s the difference?
  • DoI need to pay for a home inspection if the seller is buying a home warranty?
  • Whatare examples of things that a home warranty covers? What isn’t covered?
  • Ifsomething is identified as defective on my home inspection and I don’t get itfixed, can I use my home warranty to have it repaired after I move in?pre-existing conditions?
  • Whatis the most common home warranty claim? Is that something the inspector shouldhave caught?
  • Howdoes the home inspection report help when using the home warranty?
  • Dohome warranty companies provide a lower rate if the buyer has a homeinspection?

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TOPICS COVERED BY JO GARNER, MORTGAGE LOAN OFFICER

  1. Explore Ways To Keep Thousands Of Dollars In Your Pocket Using These Three Home Refinance Strategies
  1. Refinance To ALower Rate-Let’s look at how muchmoney you get to keep by just refinancing your existing mortgage to a rate muchlower than you are paying now? If youare paying less interest on for your mortgage for the entire remaining term,how many thousands of dollars can you save?
  2. Refinance ToLower Your Rate AND Shorten Your Mortgage Term-Let’s look at how many thousands or tens of thousandsof dollars you can save if you refinanced your home on a lower mortgage ratewith a shorter term? Talk about burningthe debt candle down by lighting both ends! It would be like taking some giantscissors and just cutting off a chunk of your mortgage payments. Picture this….Living life with no mortgagepayment just a few years from now.
  3. RefinanceCombining Your Into Your Mortgage Other Higher Interest Rate Debt- Let’s look at combining some of your higher interestrate debt into one mortgage with a low fixed interest rate cuttingthe interest over all of your debt. Then let’s put in place step two toset up automatic prepayments every month from some of the savings you gotfrom the refinance to go toward paying your mortgage off in less than 10 or 15years. Imagine what it would feel liketo get up every day DEBT FREE?
  4. Eliminateprivate mortgage insurance. If youhave a conventional loan and you owe 78% or less of the value on your mortgage,you may want to ask your mortgage company what steps you need to take to getthe monthly private mortgage insurance eliminated since it only insures thelender and does not insure you or your family.
  5. Examples of people who have made their homepay them.
  6. Carter andClaire Caldwell story– Bounding overBarriers To Be With The Grandbabies

What about making your home payYOU back? Have you considered a reverse mortgage if you are over 62 years old?

Here is a brilliant idea fromone of my past “rock star” mortgage clients. Carter and Claire Caldwell were both over 62 years old. They loved their home next to the lake and theirlongstanding neighbors and friends. But,the Caldwell’s yearned to spend time playing with their toddler grandchildrenwho lived several hundred miles away. These grandparents were motivated to financially mastermind a way to geta second home near their grandkids. Wantto know their brilliant idea????

Since the Caldwell’s were over 62 years old and they had paid offtheir mortgage early, they applied and got a Reverse Mortgage. The Reverse Mortgage on their primaryresidence was now paying them each month, so they had the income toafford to spend a five whole months at a time playing and making memories withthe grandkids. If you want to see STUNNINGLY BRILLIANT strategy, observe whathappens when grandparents are determined to spring themselves across the milesto hold their grandbabies in their laps.

  • Amelia Allison’s story-Be Frugal-Be Focused to live theadventurous life

Have you considered buying a 2to 4 multi-unit home, living in one side and renting out the other units for anamount that would completely pay your mortgage payment? If you did not have tocome out of pocket with a mortgage payment, how would your life change? (Remember to keep an emergency fund forrepairs and other unexpected) Thisstrategy of buying a multi-unit home, living in one unit and renting out therest, reminds me of another younger client that you have probably heard me talkabout.

Cuttingdebt, creating more income and investing in your personal future. That reminds me of Amelia’s story. Let me introduce you to Amelia Allison (nother real name.) Amelia’s story inspiredme. Amelia left her parent’s home rightafter high school and launched into an adventurous life traveling around thecountry. Amelia knew that, in order to keep herself financially safe andsecure, she had to keep her debt low andher emergency fund high. How could shepossibly accomplish what she wanted to do?

Ameilaplanned ahead. She got financial aid forcollege. She wanted to see the world, soshe signed up for school in a faraway area of the country, supporting herselfby working part time job and sharing a home with fellow students at the collegewhere she attended.After graduating college Ameila already knew she wanted tobuy a home. But adventure still calledher name. In order to travel and diveinto life head first, she needed to figure out a way to get a second incomewithout having to work a second job.

Amelia’s answer was to purchase afour-plex—a home with four living units. Her plan was to live in one unit and let the rent coming in from theother three units more than pay her house note. As rents would be going up overtime, her 30 year fixed rate mortgage would remain stable and low, creatingmore and more positive cash flow to fuel her excitement-seeking habits.

Hereis how it worked for Amelia: She had aknowledgeable realtor who knew the home market and the right professionals—thelender (me) and a good home inspector, title company, insurance professionaland trustworthy handyman. I got herapproved for a government, low fixed interest rate, low down payment loanprogram. With a little help from theseller on the closing costs, Amelia and I went treasure hunting for downpayment funds to get her into the property without disturbing her emergencyfund. I have to admit, hearing Ameliatalk about her plans made me yearn to step back in time for just a littlewhile- to be in my 20’s again. Ameila had her whole exciting life ahead of herand she knew what she wanted and how she was going to get there.

  • Perhaps you donot live in a multi-unit home like Amelia found. Have you looked into renting your bonus roomupstairs or renting out the tiny house out back? Check with your local zoning and subdivisionrestrictions before jumping out in this direction.
  • Can you operateyour business from your home, saving the costs of having a separate locationmiles away?
  • What other ways can you think of right now to make your house pay YOUback with an income ?

Make your plan.Work your plan. If the deal works for you today, let’s do it today. Connect with me at www.TNRDHomeLoans.com (615) 924-6215.

  • Keeping Your Credit Scores High Decreases the Cost You Pay For Credit
  • The bargain properties are fixeruppers. Let’s talk about some veryattractive special financing to help you finance the purchase and fix up ofproperties that need renovations and repairs.

4thsegment after 9:45 AM

REAL ESTATE TIP OF THE WEEK (MichaelBrooks, National Renovation and Repair Loan Manager for Sierra PacificMortgage, shares a renovation loan tip regarding measure twice, cut once.)

ANNOUNCEMENTS:

Talk Shoppe offers freenetworking & education to anyone interested in real estate or in business.Talk Shoppe meets every Wednesday 9A-10A CT at Concorde Career College 5100Poplar Ave 1st floor Memphis, TN (The Clark Tower). Tax Attorney Wis Laughlin will be presenting,“Everything You Want To Know About Taxes But Were Afraid To Ask”

Talk Shoppe events arefree thanks to supporters like Kaizen award-winning business coach, Eric Eurichof Focal Point Business Coaching. Eric can get you to where you are to whereyou want to be. Contact Eric at (901) 340-9558

Thank you to Taylor Morseof Cartridge World in Collierville for your help and support for Talk Shoppesponsors and advertisers. ContactTaylor Morse of Cartridge World to cut your printing costs by using qualityrecycled cartridges. (901) 853-3230

4. Subscribe at www.TNRDHomeLoans.com and you can get our weeklyblog posts with podcasts conveniently in your inbox.

5. RealEstate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL,LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ONANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THEINFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANTFOR GENERAL EDUCATIONAL PURPOSES ONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATIONPURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT WEUSE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACTDETAILS IN ANY OF THE SITUATIONS.

QUOTE CORNER: (attributed to Warren Buffett)

Warren Buffett-“ On Saving-Do not save what is leftafter spending, but spend what is left after saving.”

Warren Buffett- “Never test the depth of a river withboth feet”

Warren Buffett- “On Earning- Never depend on a singleincome. Make an investment to create asecond source”

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REJOINDERS:

  1. Leah Anne Morse, owner of All Things New inRossville, TN. Helping you to organizeto downsize. Coordinator of estate sales (901) 488-9733
  2. Troy and Lynn McDonald, Erin McDonaldInsurance Agency in Bartlett, TN You arein good hands with Lynn and Troy (901) 849-7101
  3. BillEmmerling, Vista Points in West TN Getsome peace of mind for your loved ones. Talk with Bill about setting up aSpecial Needs Trust www.vistapoints.org 615-594-4617

TransitionMusic: “Safety Dance” by Men WithoutHats; “Theme from Bob the Builder”; “Safe and Sound” by CapitalCities; “Memphis” by JohnnyRivers for the Look Back Memphis Trivia Contest

ABOUT BRANDON THOMPSON, HOMETEAM INSPECTION TEAM

4 hot spots for home inspections

Brandon Thompson, Home Team Inspections

Direct (901) 848-2388

Appointments (901) 562-0988

TN Home Inspector License#: 1553

ASHI Member#: 263050

NACHI Member#: 17020732

Home Team Inspection Service – Memphis

Brandon Thompson – owner of HomeTeam Inspection ServiceMemphis. I am a member of ASHI (American Society of Home Inspectors) and NACHI(International Association of Certified Home Inspectors), Memphis AreaAssociation of Realtors, Women’s Council of Realtors, BNI, and I’m a licensedhome inspector in the state of TN.

HomeTeam Inspection Service is the leading home inspectioncompany in North America. For more than 20 years, home buyers, home sellers,and real estate professionals have recognized HomeTeam for being fast, trustedand accurate. And just as the name implies, we make every inspection a teameffort. Because your time is valuable, we bring a team of professionals to yourhome inspection. This assures you of an efficient and thorough inspection.

I’ve lived in the Memphis TN area since 1998 and have spentthe last 19 years working full-time for the Air National Guard as an ITSpecialist. I earned my degree in Business Management from the University ofMemphis with a minor in Real Estate Finance. My love for real estate startedearly on while working with my father on a couple of remodeling projects anddeveloped over the years as a home owner and DIYer. I’ve always wanted to workfor myself and I wanted do something to help people. I love the fact that I’mable to help buyers make one of the most important decisions of their life.

_____________________________________________________________________________________ABOUT CHRISTY STOKES, CHOICE HOME WARRANTY

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOU WANT TO ACCOMPLISHWITH YOUR MORTGAGE?

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 (currently working with SierraPacific Mortgage, Inc)

“Whatever YOUR personal priorities are, my job is to help youget the mortgage terms that will give you bragging rights when you talk aboutit and help you score on hitting yourgoals .”

As a mortgage loanofficer, my job is to help you get to the benefits you want from your financing terms. What is most important to you? I can help youfind the financing terms that will help you get to what you want. What is your comfort level on a house payment?How much are you comfortable paying down,? What type of financing do you needto get the house you want to buy or refinance?

Different clients have different priorities inlife—some are buying their first home with very little down payment funds. Some are recovering from medical challenges,divorces or preparing to send children to college and some are embarking on along term goal of buying properties to build rental income.”

TNRDHomeLoans is a 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 for refinancing and purchases.

Jo can help you look at rent vs buy, when it makes sense torefinance, how to get the best deal on your home purchase financing.

McKenzie Mortgage RD Loans has beenin the real estate/financing business for over 25 years. She got herstart in Portland, Maine where she first began her real estate career. Shereceived her real estate education from the University of Southern Maine and was personally mentored in San Diego, California by Robert G. Allen,author of Nothing Down,Creating Wealth andThe Challenge.

On moving back to West Tennessee in 1987, she went intobusiness buying and selling discounted owner-financed notes secured on realestate. In 1990 Jo went to work for a residential mortgage company andhas been a mortgage loan officer for over 25 years. Her goal is to offerexcellent, 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 TNRDHomeLoans also host the radio show Real Estate Mortgage Shoppe airing on NewsRadio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.TNRDHomeLoans.com

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