Equity is the Name of the Game

Everyone is aware that mortgage interest rates are at all time lows, but for many homeowners that doesn’t mean much as a lack of home equity keeps them from refinancing.  A good majority of homeowners in the U.S. have found themselves owing more than their home is worth. Whether they purchased at the top of the market or they live in an area which has considerably depreciated, its not easy to obtain a more affordable loan with that standing.

A Few Stats:

  • 10.9 million Americans have underwater mortgages.
  • 10.9 million represents 22.5 percent of all home loans.
  • Another nearly two and half million have less than 5% equity.
  • Nevada has the highest percentage of homeowners with negative equity.
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Are Sales Down?

Don't let this be you!

Are you having trouble with sales? This doesn’t have to be the case. Here are a few tips on how to effectively work leads.

- Understand where the consumer is coming from. Most the leads you’ll work with have a story or some sort of hardship, and a little compassion can go a long way.

-Make a good first impression. Often times what you say in the first 30 seconds will determine whether or not the consumer will work with you.

- Managing your leads can also be tricky, many people hire lead management systems or CRM’s to help get the most out of the lead.

- Don’t give up, a lead isn’t dead till you have heard directly from the consumer that they are not interested. Many people have reported closes a month down the line.

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Fixed Mortgage Rates Decline for 5th Straight Week

Freddie Mac reported a decline in fixed mortgage rates for the fifth straight week this week resulting in their lowest levels of the year.

The average rate on the 30-year loan fell to 4.61 percent from 4.63, showing the lowest level since mid-December. The rate on the 15-year fixed mortgage dropped to 3.80 percent from 3.82 percent, the lowest since late November.

Record low rates prompted more borrowers to apply for refinance, now at its highest level since the second week of December.

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WSJ Sales Tip: “Read Those Out of Office Replies”

What do you do with all of those ‘out of office’ replies in your inbox? If you’re like most people, you hit the ‘delete’ button without so much as a second thought, right? Well, Barbara Haislip of the WSJ posted a great article today that may just forever change the way you look at automatic replies.

Chief executive of Countrywide Pre-Paid Legal Services Inc., Len Feltoon claims ‘out of office’ replies can be a great source of sales leads. Feltoon points out that the emails usually contain contact information for someone else at the company, possibly a more adept decision maker, creating a new business opportunity.

“Closing a deal is all about finding the right person and the decision maker,” says Feltoon. Automatic replies provide “real-time information and are 99% accurate.”

Feltoon claims these out of office replies account for 6% of new accounts for his firm each year.

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Consumer Credit Finally Improving

Consumer credit improved for the 1st quarter, breaking a 9-month streak of steady decline as households take on more debt.

A report released Monday by the Federal Reserve Bank of New York shows credit limits increased for the first time since 2008, rising $30 billion or by about 1 percent.

This report excludes mortgage balances.

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Home Loan Modifications On the Rise

The number of loan modifications completed during the first quarter was up 22 percent from the end of last year, and up 25 percent from the first quarter of 2010. Approximately 13 percent of this year’s loan modifications were completed through the federal Home Affordable Modification Program.

In order to qualify for loan modification home owners must prove financial distress and have a verifiable source of income with which to make modified payments. There are still some homeowners struggling to make modified home loan payments, and defaults still continue even within the modification program.

More options are becoming available to homeowners in distress who do not meet the criteria for home loan modification.

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Loan Modification is All the Rage

According to the Mortgage Bankers Association loan modification applications are at an all time high as people scramble to avoid foreclosure and put some much needed cash in their pockets.

Interest rates are down, and now is the time to refinance! Get you loan modification leads from Leads 123 today!

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Closing Leads

You’ve finally got some great leads for your company and now you actually have to pick up the phone and close those leads! If you’ve got hot leads, it shouldn’t be too hard to close, but there are some things to keep in mind along the way.

Attraction marketing is all about promoting yourself rather than your company. You are a smart, savvy, helpful, and interesting human being dammit, and people like you! Start using those qualities to build trusting relationships with your prospects. Give them a human contact and personalized experience. Give them a face and a name they can trust.

Confidence is key. Stay confident and stay detached. You don’t want to seem too desperate, or nervous. Despite what you actually say your prospects will sense this, and it will turn them off.

OK, back to building relationships. Engage your prospect in casual conversation. Be genuine, take an interest in them. You are hoping to do business long term together, so why not be friends?

Find out exactly what they want and expect from a service, and tell them how you will provide it. Ask them if they have any questions or require and special assistance. Answer those questions. It’s simple, but makes people feel comfortable.

Lastly, don’t forget to ask for the close. You’ve made it this far, so don’t let it go at the last minute. Assume they want what you have to offer. You’ve covered all of your bases, now head home!

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Sales Lead Management Association


The Sales Lead Management Association (SLMA) is a great resource for sales professionals. The association provides a wealth of information on effectively managing sales leads and bridging the gap between sales and marketing. SLMA has now added webinars and radio to their list of mediums.

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Choosing the Best Leads!

The simple truth is, if you want to close more deals you must find good leads. It can be tough to know what you’re in for when purchasing leads, however. A lot of vendors simply repackage bad leads they purchased from other questionable vendors, and by the time you figure this out it’s too late. So, how do you choose good leads? Focus only on vendors who offer cherry pick or trigger leads, as these are the most likely to convert. With cherry pick leads, you know what you’re getting ahead of time. This makes them the best in the industry.

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