Imagine a way to purchase a property for 100% financing at less then the value of the property!  Can it be done heck yeah its being done.  Is it easy heck yeah its easy.  The best part is its completely legal!  One big problem.  

It takes a few key players that can be hard to find.  Fortunately I have those players and as things progress I will be updating you as to how many people we have helped and what the profit margins are.

Some have requested a forum where we can all interact to ask/answer questions.  I am in the middle of development and will deploy soon.  Also I am in process of writing an ebook that goes over strategies home owners can use so they don’t get screwed.  

Ever talk to a loan officer and wonder what the hell, why won’t he take no for an answer? Or better yet, ever end the conversation and just be stunned you gave the information you gave to a stranger? It wasn’t luck peoples. It was done by design.

As salespeople were trained to get information from you. We create scripts filled with rebuttals for your main objections. So here ya go. A list of common rebuttals. The next time you deal with a salesperson you will be better prepared and see them coming from a mile away.

Rebuttals and Objection Stoppers

What are the closing costs?

Rebuttal 1: Cost is never an issue for our clients. Our job is to put you in the best financial position possible, including any costs that might be involved. We know that if the costs outweigh the savings, that doesn’t help you at all. That’s why we have over 250 lenders available to us. It allows us to find you the best program you qualify for. (Back to script)

Rebuttal 2 don’t speak too fast!!) Well (Client), I’ve seen loans that cost next to nothing and I’ve seen loans that cost several thousands. Fees are determined by loan to value, debt to income, and credit score. I need to ask you a few more questions to give you an educated answer on what your fees will be.
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I want a No Closing Cost loan.

Rebuttal: Of course you do, but obviously you know nothing is free. Even if you called a retail bank like Wells Fargo or US Bank, their not going to do anything for free. There’s 3 different ways you can pay for a loan. Some banks make you pay up front. Some banks offer a no-cost loan with a higher interest rate…. This will cost you thousands of dollars more in the long run. What we’ve found is to give you the best program you qualify for and have any closing costs rolled into the loan so there’s no out of pocket costs for you… (Back to script)
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Satisfied or Happy with where I am at.

Rebuttal: That’s because you have nothing better to compare it too! If we could show you on paper how we could put you in an even better financial position, you’d want to know about that, right? … (Back to script)
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Other Company said “No”

Rebuttal: Yes, I’ve heard that a lot… what happened… (See manager)
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I have Bad Credit

Rebuttal: What makes you think you wouldn’t qualify? Anything else… (See manager)
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I’m not interested

Rebuttal: (Name), I’m not here to sell you anything or waste your time. I know you get enough of that already. (Quickly move on to next question)
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I am still not interested

Rebuttal: Hang on, if we had a program that fits your needs as far as rate, payment, and costs are concerned, and it provides you with $300-$500 in monthly savings plus a tax deduction, you’d want to know about that, right? I need to ask you a few questions to make sure I am not wasting your time…. (Name), how long have you owned your home?
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I just refinanced

Rebuttal 1: Great, most everyone has, but it’s never too late to save more money. That’s the bottom line, right? (Strategic pause, then back to script)

Rebuttal 2: Yup… 9 out of 10 people I have talked to have and we’re still able to save them more money. I need to ask you a few more questions to make sure I am not wasting your time… (Quickly back into script)
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I’m busy; I don’t have time to talk

Rebuttal: Should I call back in 45 minutes or just be brief? (Wait for answer and go back to script).
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What’s your rate?

Rebuttal: That is a great question. Our rates are determined by loan to value, debt to income ratio and credit score. I need to ask you just a few more questions so I can give you an educated answer on what your rate will be. (Back to script quickly).
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I have a pre-payment penalty!

Rebuttal: Sure. Most everyone does. What they don’t tell you is that a pre-payment penalty is pre-paid interest. So therefore, (name), it is tax-deductible by law, which basically makes it a wash. (Back to script quickly).
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What’s your Rate1?

Rebuttal: That’s a great question (name). Rates are determined by loan to value, debt to income ratio, and credit history. During your application we’ll find 2 or 3 of the best programs available and guarantee them in writing… (Back to the script)
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What’s your Rate 2?

Rebuttal: That’s a good question (name).
We actually don’t rates over the phone, which isn’t a bad thing…. It works to your advantage. If you called a retail bank like Wells Fargo or US Bank, I’m sure they’d quote you a rate right now. Is that the best rate you’d qualify for? Of course not, but it’s the only one they’ve got, because they work with only one lender, themselves. We have access to over 60 different lenders to find you the best rate and program out there… (Back to the script)
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Can you Beat ?.?? %

Rebuttal: We beat _____% all day long.
Can I guarantee we’ll do that over the phone? Of course not. What I CAN guarantee, that after you answer a couple more questions you’ll know if you qualify too…. (Back to script).
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What’s the Lowest Rate?

Rebuttal: In today’s market rates change 3 to 4 times everyday. So while I don’t know what your exact rate will be, I can guarantee you the best rate you qualify for in writing… (Back to the script).
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Can you Give Me a Range?

Rebuttal: I can do better than that. By asking a few questions I can put the lowest rate you qualify for on paper… (Back to the script)

I need to talk to my wife/husband

Rebuttal 1: Of course you do… your home is your biggest investment and these benefits are not something you would want to do without. In fact, the state requires your spouse to be part of the process… and our customer service policy dictates that I have to provide customer service to all parties on title. You couldn’t do it without him/her even if you wanted to. We’ll do a basic application… and… if you qualify for the loan, we will work through all the details with both of you.

Rebuttal 2: Of course you do! But first you need something to talk about. What we need to do first is have you go over 2 or 3 of your best options to see if there is even a benefit. That way you can go over them with your spouse, and discuss them in the comfort of your own home… (Back to the script)

I think I’ll pass

Rebuttal: Well (name), we can both see that you can be in a stronger financial position, and I’m not the one who’s benefiting from it. So I figure it is one of two things, either you don’t believe me or you just don’t like me! Which one is it? (Do not speak first)

Social Security # 1

Rebuttal: Okay, I understand how you feel (name); a lot of people have felt the same way at first. The way that this process works is that after I take all of your information, I will be calling you back tomorrow with an educated answer on what you qualify for with our wholesale programs. I have not ever had a client call me back disappointed with our service, Honestly, I think that we are getting way ahead of ourselves, what we need to do, is have me crunch some #’s and find out if it is even worth it for you to refinance, so what is your soash?

Social Security # 2

Rebuttal: There is nothing to worry about (name). We are a member of the Better Business Bureau. I am not interested in your SS# (name); I just need to look at your credit report to provide you a personally tailored program and to determine how much money I can save you based on your credit, so what is your soash?

Social Security # 3 (if they still don’t bite)

Rebuttal: (Name), I am not here to hurt you in anyway, I am here to put you in a stronger financial position. So what is your soash?

People I hope this helps. Come check out my site at www.thecrazybroker.com. Check out the site, get any free information you want and click a sponsors link so I can make a buck or two.

Make sure you sign up for our newsletter.  We take great pride in making sure nobody gets screwed.  Allow us to give you up to date information quickly.

http://thecrazybroker.com

So heres the story.My wife has a loan that has been hell.  The client has bad credit and yet he qualifies for an FHA loan.  However he has to spend approximately 5k to clean up the debt.  No problem because fortunately he had some cash.  Problem solved, bring on the next issue.  Next issue is that now his reserves aren’t high enough.  Why aren’t they high enough?  Because he spent the money cleaning up his debt.  Underwriter digs in their heels but noooo problem because she solves that issue too.   Problems are being solved now bring it on.  Ok how about this.. Loan docs must be signed by today with all conditions met.  Ohh by the way there’s this last minute judgement for 5400 that shows at title.  Is this a deal breaker?  Nope because we settle with the holder of the judgement for 3500 bucks to be paid on monday.  The seller is going to pay him back a few bucks when the deal closes.  This is because the seller just bought the house at auction a month ago and is going to make a killing. So here we sit.  Talk about mess after mess after mess.  However broker of all brokers (my wife) solves the problems no matter what they are!   Until she gets the news.  The news was this.  The client was getting an FHA loan.  There can be no transfer of title within 90 days of the time the home just sold.  So since this was bought at auction a month ago the deals dead dead dead.  Can’t do a damn thing.  dead dead dead.  Talk about a mess all because the underwriter didn’t catch it on the front end, the loan officer didn’t catch it, nobody caught it… till final underwriting.  Now its caught and now its dead.  Everyone gets screwed.  

Today across the nation you can find thousands and thousands of loan officers who are stuck in the old way of doing things.  They are stuck in the ways of picking up the phone and whammo there’s a loan.  Sorry folks but thats just not going to cut it anymore.If you’re going to survive in todays mortgage industry then your going to have to work for it.  Yeah sorry guys but put the golf clubs away and yeah its going to take some late nights too.  Sure seems like a dim prospect doesn’t it?  Well its not so quit crying.  After all to be a loan officer in todays world doesn’t require any college education and in many cases it doesn’t require any special licensing.  Yet if you’re good you can make over 150k per year hands down.  All by doing a little work.  Yes that means nights, weekends and  no golf.  However what job out there doesn’t require some work.  Sorry guys but the old days are gone and yes now your going to have to actually earn the money. Bottom line is most aren’t willing to make the change.  Most perceive the drop in the loan pipeline as  a “market” problem.  Really its a Darwinism issue.  Want to survive?  Your going to have to work smarter and harder.  Yep use technology and put in longer days.  Considering most people earn only a fraction of what a well paid loan officer can make I doubt there will be anyone crying for you.  If your looking for a great resource for information then make sure you check out my website at www.thecrazybroker.com 

When looking for a mortgage its important to not just be a passive customer.  Instead become an informed potential client.  I’m not saying you need to make your research a full time job.  However most clients don’t consider this part of the process.  Instead they believe they can simply call the closest mortgage company (or their existing one), or perhaps a referral from a friend.  Loans cost thousands and yet most people don’t do research. This is because most people are lazy when it comes to learning things as dry as mortgages.  Who can blame them.  The only problem is that a lack of understanding the process can cost thousands in fees and sometimes tens of thousands in higher interest payments.  So please.  Take the time to do a little research.  Yes its another shameless plug coming. Where can you find this kind of research material for free?  At my website!  Goto http://thecrazybroker.com and get all the information you need today!  

Sure sucks to be sick on easter but life keeps on moving.  I have tons of stuff to do and the last thing I need right now is to be at an easter party thats going to last all day.  And yet where am I going? You guessed it… To the damn party thats going to waste my day.  Hopefully I will get a chance to play catchup tonight.The good news?  My daughter just brought me a deviled egg and it was delicious.  Uggh.. Gotta get ready for this damn party.  Cya.  

I can feel it coming on.  I’m getting sick.  My head is cloudy and my throat hurts.  No fun. I have some developers working on thecrazybroker.com.  It should be redesigned inside of 2 weeks.  Thats the only update for now because I don’t feel like typing.  In fact I think a nap is calling my name.  

Everywhere you turn nowadays people are whining their blues about how they used to get so much business and now they don’t.  It seems like every loan officer I speak with is crying the blues and blaming the market.  Heres a thought,, how about they blame themselves.If you were a loan officer who wrote deals and didn’t cultivate relationships then likely your either out of the business or singing  the blues.  Shame on you.  I would hope you learned your lesson.  This way if you enter back into the field you will do your clients a better service and develop long term relationships.    Today we are busier then we have been in a long time.  All with absolutely no marketing and completely because of referral business.  Now do we make as much as we used to make?  Nope but thats because the loan officers who work for us are also singing their own blues song.  They didn’t think long term with their clients.  However we survive.   This is a people business.  Treat people like they deserve, help them, and then keep in contact.  If you developed long term relationships with clients then you should have enough referral business to get you through the tough times.   If not then its your own damn fault. For more real estate and financial information come check out my website at www.thecrazybroker.com 

Too bad the lending market didn’t really give a damn.  Sure it helps spur client interest from those lazy headline readers but anyone who understands how this stuff works knows it doesn’t really matter.  They cut the overnight rate.  What that means in a nutshell is the banks get charged less to borrow funds.  The problem is many banks don’t pass this off to the consumers and instead they use it to clean up their balance sheets.Heck I was talking with my wife today who was griping about how they lowered the rates and yet she was getting bombarded with emails from lenders saying the rates being offered on loans had increased.  Hmm I guess the lending rate doesn’t follow exactly what happens on a fed level.  Two sided coin.  Side A. I sure get tired of telling people why it doesn’t matter when the rates get cut.Side B.  I sure am grateful to have the chance to discuss peoples financial situation and how I might help them.  In this case I prefer people stay ignorant to how mortgages really work.  After all headlines do create phone calls. If your looking for information on just about anything you can imagine thats mortgage related then head on over to my website at http://thecrazybroker.com