In this show we will be sharingsome stories of people who had a burning desire to accomplish something intheir lives but they kept stumbling over bumps in the road until they found theright solution. Kyle Porter, Managerof Sierra Pacific Mortgage Cordova, TN will be shedding some light on what ishappening nationally in the mortgage market and how it affects home loanborrowers. I will be sharing some tipsand stories of how you can use strategy to get your best deal on a mortgage.

Kyle Porter is manager of Sierra Pacific Mortgage in Cordova, TN.-whereyou can also find me hard at work. Kyle, you really get behind your mortgageofficers and team to deliver the best service to our referring partners andclients. Take a moment to tell ourlisteners a little bit about yourself and what Sierra Pacific Mortgage does forour clients. (Kyle introduces himself and talks about what we do for ourclients at Sierra Pacific Mortgage)

(Jo) We are living through extraordinary times of changeduring the Coronavirus pandemic. Financial markets don’t like uncertainty and neither do most people. Butwe each have an opportunity to grow, to learn a new skill and to placeourselves in the best position possible.

NASA Commander and astronaut Chris Hadfield, teaches his students, “Themore you know, the less you fear.” Chris Hadfield has floated out into the blackness of space and describeshow he could feel heat on one side of his spacesuit from the sun and the chillof space on the other side. He talksabout every astronaut’s life on the mission depends on the ability to solveproblems quickly. He studies everysystem on the space ship. Then boils it down to one page. He brings home hispoint by saying, “You have to be able to solve any problem –in one breath.”

Even though you may not be preparing to fly a spaceship, you may wantto buy a home for you and your family to enjoy. You may want to refinance orrestructure your finances to free up more money each month or pay off yourmortgage early. What do YOU want toaccomplish with YOUR mortgage? Make your plan. Work your plan. If the deal works for you today, let’s do ittoday.

RACHET UP THE CREDIT SCORE TO RATCH DOWN THE PRICE OF MORTGAGE RATE-PHILLIP AND FARRAH FENTON’S STORY

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Phillip and Farrah Fenton had beenmarried over a year and expecting their first child. As newly- weds, they didn’t mind livingcramped in a tiny house in a family member’s backyard. But, now they had the baby to thinkabout. Phillip’s credit score wassuffering because of some bills he had not paid and others he had racked upfrom his carefree college days.

In order to put himself and hisfamily in a better position, Phillip and I talked about his plans. He disciplined himself with the help of hiswife to aggressively pay down the balances on his revolving credit cardaccounts to keep the owed balances under 30% usage on each of the lines ofcredit. His credit score startedimproving.

After adding several points to hiscredit score, Phillip was in a position to get a lot lower mortgage interestrate. Bragging rights for theFenton’s. They bought their first home,and locked in a lower mortgage rate than they ever thought possible. Now theyhad more money to spend on their baby.

We are going to talk about someother strategies you can use later in this show. But the way you can get started using thisone on improving your credit scores is pull the free credit report thegovernment allows you to get once a year from www.annualcreditreport.com Review it for errors and look for ways toget your revolving credit balances paid down and maintained as low as possible—using less than 30% if possible on your credit lines and making yourpayments on time.

Kyle Porter, you are our manager over at Sierra Pacific Mortgage inCordova, TN. You have been in the mortgage business a long time. What are some of the reasons people areseeing the prices on some mortgage rates higher than others? What are some of the reasons lenders aretightening restrictions on some mortgage products? (Kyle launches into histopics- )

(Jo)You’re on Real Estate Mortgage Shoppe.I’m your host, McKenzie Mortgage RD Loans, Mortgage Loan Officer. You can connect with me atwww.TNRDHomeLoans.com . Kyle Porter, ourmanager at Sierra Pacific Mortgage in the Memphis area will be sharing moreabout what is happening in our national mortgage market and some tactics YOUcan take to get the terms you want on your mortgage. See you back in just a moment…

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.Jimmy will be speaking at ElmwoodCemetery this summer. For information goto www.elmwoodcemetery.org or www.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 # 166 *

Garner # 176 * 04/18/20

(Answer) Sgt. Walter Singleton (Singleton Parkway)

Question: Thereis a thoroughfare in northeast Shelby County bearing my name. Who am I?

Hint: I was born in Memphisand graduated from Nicholas Blackwell High School in Bartlett.

Hint: I enlisted in the United States Marine Corpsin 1963 and rose to the rank of Sergeant.

Hint: I was killed in action inVietnam on March 24, 1967 after performing continuous acts of bravery inevacuating my wounded fellow soldiers from an enemy kill zone.

Final Hint: I posthumously received a Combat ActionRibbon, the Medal of Honor, and the Purple Heart Medal in 1968. Who am I?

Answer:Walter Keith Singleton was a UnitedStates Marine Corps sergeant who wasawarded the Medal of Honorposthumously by President Lyndon B. Johnson, for his actions above and beyond the call ofduty in Vietnam on March 24, 1967, during the Vietnam War. Singleton was born on December 7, 1944 in Memphis,Tennessee, the son of Mr. and Mrs. George P. Singleton (whilehis father was a U.S. ArmyPOW in Germany inWW2). He graduated from Nicholas BlackwellHigh School (Bartlett High School) in Bartlett, Tennessee,in June 1963; while attending school, he ran track. He liked to hunt and fish with his father and was a memberof the Future Farmers of America.

On August 1, 1963, he and hisbrother Bobby Jo, enlisted together in the U.S. Marine Corps Reserve at Memphis. Ordered to the Marine Corps RecruitDepot Parris Island, South Carolina, he completed recruit training and reported to Camp Lejune with the 3rd Recruit TrainingBattalion in February 1964. He was promoted to private first classon March 1. In December 1966 Transferredto Marine Corps BaseCamp Lejeune, North Carolina, he was assignedduty as ammo-carrier with Company E, 2nd Battalion, 6th Marines, 2nd Marine Division until November 1965 While performing this additional duties,he also received a letter of appreciation with a trophy for qualifying 100 percent of the officers-to-be.

In December 1966, he and his unit arrived in SouthVietnam from Okinawa (under serviceregulations, only one brother was allowed to go to Vietnam). On March 24, 1967, the 1st Battalion, 9th Marines began Operation Prairie III, Sergeant Singleton’s Company A came under intense enemyfire at the village of Phu An. He was mortally wounded after advancing from hisrelatively safe position in the rear to help his company’s lead platoon’smedical corpsmenevacuate numerous wounded away from the enemy killzone. Just before Singleton was killedby enemy fire, he managed to make a single-handed assault with a machine gun onthe enemy’s position and destroy it, killing eight and driving the remainderaway. It was for these acts of bravery, which had saved several more of hiscomrades’ lives, that he was awarded the Medal of Honor.

Singleton’s parents, Mr. and Mrs.George P. Singleton, were presented their son’s Medal of Honor on September 4,1968, by the Secretary of the NavyPaulR. Ignatius during ceremonies at the Capital‘s Marine CorpsBarracks, Washington, D.C.

Bonus: Jimmy Ogle’s four distinct tours ofElmwood Cemetery scheduled on Saturday, April 25 have been postponed until Summer.For more information, call 901-774-3212 or go to elmwoodcemetery.org.

Jimmy Ogle has retired from walkingtours in Memphis. Twelve of his MemphisHistory lectures from the Pink Palace entitled Making Memphis – Storytelling byJimmy Ogle, and now more than ten hours Downtown Walking Toursmay all be viewed for FREE on the internet at . . .
You Tube Jimmy Ogle. View JimmyOgle.com for more info!

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TOPICS COVERED BY KYLE PORTER, MANAGER OF SIERRA PACIFIC MORTGAGE

Currentmarket conditions –

• How MBS’s are playing a major role in ourcurrent changes
• What is Forbearance and how does it effectthe homeowner and the loan servicer
• Are the changes universal or lenderspecific, and why?
• Kyle uses example of a hamster wheel. When the mortgage is available in themortgage-backed securities market and homeowners are making regular payments topay back their mortgages, it is like the hamster running on the wheel, keepingthe wheel turning. When the mortgagesupply and pay back is continuing to flow, like the hamster on the wheel,mortgage companies can continue to keep new mortgages flowing out to borrowerswho need a mortgage.

Stateof Refinance –

• Is it still a good time to refinance, why?

OurQuarantine PlayBook

• How are we continuing to operate- asnormal as possible
• Becoming a market expert and a beacon ofknowledge for our clients
• Why we do what we do

WORDS OF ENCOURAGEMENT FROM KYLE PORTER

I wasreading some linkedIn posts looking for ideas that would inspire others. Rightnow is when we need inspiration the most and you never know who in your circleof influence needs that pat on the back for the day.

If youhave a strong desire in your heart to pursue something that God placed insideof you to share with the world, go for it,

followingthat feeling inside and have faith without any shadow of a doubt thateverything will work itself out.

Don’tallow your friends or family or co-workers’ limitations to become yours; As JimRohn said:

“You arethe average of the five people you spend the most time with.”

Thepeople you spend the most time with shape who you are;

as aresult, you must surround yourself with people who can help you or push you inthe direction of your dreams.

As SteveJobs said, the dots will connect, don’t fear the possibility of failure,

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TOPICS COVERED BY JO GARNER, MORTGAGE LOAN OFFICER

1. What are the toptactics to take to get the best mortgage terms?
2. Improving your credit score can position you into better price breaks foryour mortgage. Depending on the loanamount you will be borrowing, adding 100 points to your credit score can saveyou hundreds of dollars on your monthly mortgage payment. That could mean you save tens of thousands ofdollars over the life of your mortgage.

I am not a licensed credit reportcompany, but being in the mortgage business over 25 years had taught me a fewthings about cause and effect in getting credit scores higher.

Most everyone knows to make everypayment on time. Don’t let medical billsor student loans bills languish unpaid. Unpaid bills usually end up incollection account which holds your credit scores down.

Customers who keep the balances down under 30% of their credit limit fortheir revolving credit lines like credit cards, usually see their credit scoresmove up quickly.

Stay away from 12-months-same-as-cash. These accounts score as maxed out credit cards and can plummet yourcredit scores really fast.

Tip to the Wise: If you can’t getyour credit scores any higher in time to purchase your home or refinance, youmight want to try a government mortgage program like FHA, VA or USDA. The government loan programs do not tend topenalize you as strongly for lower scores.

Call me about this. I am happy tohelp you explore loan programs for the one that fits you best.

• Put more money down to lower you mortgage note and reduceor eliminate mortgage insurance.
• On conventional mortgage programs, if you put down at least 20% on a downpayment, you can eliminate any private mortgage insurance. Since the privatemortgage insurance only helps the lender and not you as the borrower, the leastyou pay in private mortgage insurance the better.
• On conventional loan programs, if you only have 5% or less than 20% for adown payment, we can compare programs with monthly private mortgage insuranceor we can look at a private mortgage insurance program that allows you to makeone big lump sum payment and then not have to make any monthly private mortgageinsurance payments
• On the government FHA loans, if you are putting less than 10% down, yourcan expect to pay the monthly mortgage insurance for the life of the loan.There is also no way to get around having the FHA upfront mortgage insurance of1.75% of the loan amount added to your loan balance.

BUT, FHA is a great loan becauseit is more forgiving on the lower credit scores. FHA only requires 3.5% down payment. FHA isan assumable loan also, even though the person buying you home one day wouldhave to qualify with your mortgage company to have permission to assume, ortake over your payments. An assumable loan with a low fixed interest rate mightone day be a real advantage if you are trying to sell your home.

• The Veteran Loans for active military and veterans is a great program forhelping veterans buy homes with nothing down.
• USDA for qualifying properties and qualifying borrowers is also a 100%rural housing loan.
• If you are trying to sell your current home but want to go ahead and buyyour new home, then you might want to look at a bridge loan or other temporaryloan on your current home to give you the money to make the larger down paymenton the house you are buying. You can pay off the temporary loan when yourcurrent home sells. Call me and let’slook at this plan or a variation of this plan if you are contemplating doingsomething like this.

Offer Accepted To Buy My Dream Home-But Can’t Sell MyCurrent Home Right Away-Zana Zagar’s story

Zana Zagar (not her real name) received some good news and bad news allon the same day. The good news—thesellers accepted Zana’s offer to buy the home Zana had searched long and hardto find. The bad news? The family selling to Zana her dream homeneeded to close quickly. Zana would nothave time to get her current home ready to sell before she would need to closeon her new home.

Zana and I explored a number of creative tactics she could take to gether the funds she needed to make the large down payment to keep her mortgagepayment low on the new home, even though she would not be able to use theequity on the sale of her current home in time to use it for the down paymenton the new home.

One of the solutions for Zana was to get a departure home equity linefrom her bank on the equity in her current home to use for a large down paymenton the new home. With the big down paymenton the new home, this would set her up for the permanently low payment on the new home.

Zana could go ahead and close and move into her new home and enjoy a lowmortgage payment on the new house because being able to access the equity onher current home with the temporary equity line to use until she could sell herold home.

• Tips To the WiseWhen Getting A Mortgage
• Don’t run out and pay off all yourcredit cards and car loans before you consult with your mortgage loanofficer. Money available in the bank is so much more important, inmost cases, than have a low income-to-debt ratio. I guess the logic is, if you have money inthe bank you can make your payments on the other debt. Consult with your loan officer first todetermine if you should pay down debt or make a larger down payment or justshow extra money left in your bank after closing for emergencies.
• Look at your money coming in and money going out each month. What is themaximum house payment that is personally comfortable for you each month?What is the maximum down payment that is personally comfortable to paydown and still leave plenty in an emergency funds.

• Shop around to two or three mortgage companies. If the rates and prices are fairly close, gowith the mortgage company that seems to be paying attention to your plan andwhat you want to get on your mortgage

• Get preapproved from a reputable lender. Sometimes having a prequalification letter from a local lender is betterthan someone out of the area.

• When you are finding homes where you would like to make an offer to buy,let your mortgage loan officer know theaddress and the sales price and anything else you know about the house. If you are my mortgage client, and you tellme the address of the property and what price you plan to offer, I can work upsome financing scenarios very specific to that property’s’ taxes and otherthings like a neighborhood or condominium.

• Remember that if you are buying acondominium, you have to qualify for the condo mortgage program with a minimumof 10% as a down payment. Remember also,on condos, the lender has to approve the condo too. Condos usually require a monthly associationfees to keep up the place

4^th segment after 9:45AM break: REAL ESTATE TIP OF THE WEEK (Michael Brooks, Sierra Pacific Mortgagenational renovation and repair loan program manager. Michael shares a real estate related money-saving ortime-saving tip):

ANNOUNCEMENTS:

Talk Shoppe offers freenetworking & education to anyone interested in real estate or in business.Talk Shoppe meets every Wednesday 9A-10A CT currently online. Go to www.TalkShoppe.comclick on the Upcoming Events tab and then click on the web address there tojoin us. This Wednesday April 22 2020 Talk Shoppe presents: “Skills,Knowledge, Opportunities” Andrew Israel Program Director ofLeadership Germantown

Talk Shoppe events arefree thanks to sponsors like Brett Carter of ServiceMaster by Cornerstone,restoration from fire, flood, and bio hazards. Thank you for your community service in disinfecting our ambulances andour Shelby County TN Sheriff’s cars. Call ServiceMaster Cornerstone at (901) 509-9750

Thank you to Nita Black,business strategist with www.901ELearn.com Nita Black can help you organize yourbookkeeping and come up with a plan to monetize your business projects. Talk Shoppe recommends Nita Black of www.901ELearn.com

2. Stay safe- Shelter at home. Find ways to help our community.

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:

NASA Commander Chris Hadfield “The more you know, the less you fear.”

Sir Winston Churchill “ The pessimist sees the difficulty in everyopportunity. The optimist sees theopportunity in every difficulty.”

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REJOINDERS:

1. BerniceL. Ross, Texas author and real estate syndicated columnist with Inman RealEstate Radio.
2. Leah Anne Morse, Cartridge World ofCollierville, TN 901 853-3230
3. Jana Cardona, Executive Director of BNIMid-South www.bnimidsouth.com

Transitional Music: “Money’s Too Tight To Mention” by SimplyRed; “Money Song” by the Muppets; “Back In The High Life Again” by Steve Winwood; “Memphis,” by Johnny Rivers for the Look BackMemphis Trivia Contest

________________________________________________________________________

ABOUT KYLE PORTER, BRANCH MANAGER OF SIERRA PACIFIC MORTGAGE CORDOVA, TENNESSEE

Kyle is a native Memphian that has been inmortgage banking in the Mid-South for 20+ years. Specializing in constructionlending and first-time home buyers, Kyle and his team at Sierra PacificMortgage make it a point to treat every customer and client like they arefamily, making sure each one is given the hands-on attention that is needed inthe mortgage process. Kyle is heavily involved in the real estate community,serving on the Affiliate Board for the Area Association of Realtors and is anactive volunteer for Habitat for Humanity and Youth Villages.

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 mortgage field,McKenzie Mortgage RD Loans is the primary sponsor and founder of Talk Shoppein 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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