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Month: August 2018

Loss Mitigation – The Art Of Negotiation

Posted on August 30, 2018 in Uncategorized

With foreclosures at an all time high in the US today, most home owners that are facing foreclosure hear all kinds of bank terminology words like, pre-foreclosure, short sales, REO’s, bank owned properties and loss mitigation are all terms that some fear. We will look a one of these terms and what it means to you.

Owners often believe that refinancing their home is an option to get away from their current lenders. Keep in mind that care needs to be taken if you are looking at refinance your home to save yourself from foreclosure. Most properties are already in default by two or more months, and paying your mortgage late will have adverse affects to your credit, thus not qualifying, so refinancing may not be an answer to your problems.

A viable option for these owners is commonly referred to as “loss mitigation”, which is where the lenders may assist the borrower when they have fallen behind in payments and in danger of default on their loan. Lenders vary on policies regarding foreclosure and loss mitigation is sure to check with them for the specific details in your particular situation.

After two or more months of default, in most states, a repayment plan may be put into effect between the lender and the homeowner, the purpose of this is to correct the delinquent amount due and assist the owner in getting back on track and avoiding foreclosure of the property. This is where the loss mitigation specialist comes in to place, they will be the person that you have will deal with in coming to an agreement that satisfies both you and the lender during your time of hardship.

Lenders and homeowners can lose tens of thousands of dollars in the foreclosure process and therefore lenders will want to avoid moving forward is possible. Ultimately, the lender wants the current owner to keep up to date and avoid foreclosure proceedings they are not in the business of being landlords; they are in the business of lending money.

Homeowners that are facing foreclosure must be encouraged to keep ownership through scenarios that are in the best interest of the lender and the owner.

In many cases the owner will get cut off at the first level of help, and ultimately the first level in the loss mitigation department as we, keep in mind that these lower levels are simplified glorified collection departments, and you will need to go up the ladder to get results. Lost mitigation workup are basically a summary of what the lender stands to lose during the foreclosure process, by taking into consideration all factors of the situation.

Loss mitigation has been dubbed the “Art of Negotiating”, between the borrower and the lender, therefore stopping the foreclosure process and reaching a settlement. Often times the loss mitigation department is the better of the available choices for the homeowner that is desperately tying to save their home from foreclosure.

On the other side of things, loss mitigation is not a viable solution if there are other options that are a win-win. Keeping your options open and researching them thoroughly may help you avoid foreclose, bankruptcy and the 7+ years of bad credit.

The Art of Backend Selling

Posted on August 24, 2018 in Uncategorized

The art of backend selling

The backend sale can be more rewarding than
the original sale. And it can also be much
easier.

What exactly is a backend sale?
After you have sold something to somebody
you are in an excellent position to sell them
something else which complements the first sale.
You already know the customer has an interest
in a certain type of product or service, so
they are prequalified leads for a backend sale.
Take a store selling fishing tackle, as they
have just sold you a rod, reel, and line they
know you are going fishing, so they also offer
you the bait you will need.

The customer who has just bought is also in a
buying mood, and has his wallet, credit card
or cash out. While he/she is there, there is
a good chance they will be open to another
purchase from you, as they already trusted
you once.

Here is a story of a backend sale I once had
which illustrates how it can work for you.
I had a customer purchase a membership to
a safelist I was running, but he then decided
that it didn’t work for him. He requested his
money back, which I happily supplied, but added
to the end of the email that he may like to try
a different way of advertising, and I was an
affiliate for a company which could offer him
an alternative. I received an affiliate payment
for 50% of a $60 sale, on the back of returning
the $5 membership fee.
Now that was good enough for me to realise the
value in the backend sale.

Try it out for yourself, on your thank you page
add a link to a complementary product your
customer can purchase on his way off your site.
Your bank manager will love you for it.

Why Come to the Outer Banks?

Posted on August 18, 2018 in Uncategorized

The wonderful islands of the Outer Banks provide for some amazing vacation destinations. The many unique towns that run along these narrow strips of sand will make your vacation unforgettable. Once you cross over the bridge you’ll realize you reached paradise. From the northernmost tip which borders Virginia to the island of Ocracoke, which is accessible only by ferry, the diversity is truly breathtaking.

Many people make a must stop to see the wild mustangs of the Outer Banks. The horses are protected in sanctuaries in Corolla and Ocracoke. These mustangs believed to be brought here early along with settlers have amazingly survived the harsh conditions of the Island. The horses are believed to be direct descendents of Spanish Mustangs the first settlers brought with them.

Another must see is the Wright Brothers Memorial in Kill Devil Hills. What more can be said about the change two brothers from Ohio made on the world. This is truly something to be seen to take a minute and appreciate the accomplishment that was aided by the prevailing winds of the Outer Banks.

A local state park that you can see from the highway but you must pull in to feel the full effect is Jockey’s Ridge State Park. This state park is the largest sand dune on the east coast. The total height is always changing based on the winds. It is never the same place twice. It is one place I would recommend you visit every time you visit the Outer Banks. The view and tranquility is worth every minute you are here.

The Outer Banks besides these few vacation ideas are full of restaurants, art galleries, and many local stores that flavor the islands. You definitely want to make a trip to the Outer Banks if you never have. The abundance of things to do and places to see make for a fulfilling vacation year after year.

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