What Happens When Homeowners Leave Their Forbearance Plans?

 

According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now: 2,543,000 (39%) are current on their payments and have left the program 625,000 (9%) have paid off their mortgages 434,000 (7%) have negotiated a repayment plan and have left the program 2,254,000 (35%) have extended their original forbearance plan 512,000 (8%) are still in their original forbearance plan 116,000 (2%) have left the program and are still behind on payments This shows that of the almost 3.72 million homeowners who have left the program, only 116,000 (2%) exited while they were still behind on their payments. There are still 2.77 million borrowers in a forbearance program. No one knows for sure how many of those will become foreclosures. There are, however, three major reasons why most experts believe there will not be a tsunami of foreclosures as we saw during the housing crash over a decade ago: Almost 30% of borrowers in forbearance are still current on their mortgage payments. Banks likely don’t want to repeat the mistakes of 2008-2012 when they put large numbers of foreclosures on their books. This time, many will instead negotiate a modification plan with the borrower, which will enable households to maintain ownership of the home. With the significant equity homeowners have today, many will be able to sell instead of going into foreclosure. Will there be foreclosures coming to the market? Yes. There are hundreds of thousands of foreclosures in this country each year. People experience economic hardships, and in some cases, are not able to meet their mortgage obligations. Here’s the breakdown of new foreclosures over the last three years, prior to the pandemic: 2017: 314,220 2018: 279,040 2019: 277,520 Through the first three quarters of 2020 (the latest data available), there were only 114,780 new foreclosures. If 10% of those currently in forbearance go to foreclosure, 275,000 foreclosures would be added to the market in 2021. That would be an average year as the numbers above show. What happens if the number is more than 10%? If we do experience a higher foreclosure rate from those in forbearance, most experts believe the current housing market will easily absorb the excess inventory. We entered 2020 with 1,210,000 single-family homes available for purchase. At the time, that was low and problematic. The market was experiencing high buyer demand, and we needed more houses to meet that demand. We’re now entering 2021 with 320,000 fewer homes for sale, while buyer demand remains extremely strong. This means the housing market has the capacity to soak up a lot of inventory. Bottom Line There will be more foreclosures entering the market later this year, especially compared to the record-low numbers in 2020. However, the market will be able to handle the increase as buyer demand remains strong.

It's a Good Life!!! Greg Novak MBA NMLS # 329079 Vice President / Partner American Mortgage Office - 386-756-8228 Cell - 386-846-6686 Fax - 386-756-8108 Website - www.AmericanMortgageNow.com   Oh, by the way,  If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.   FLORIDA- American Mortgage Loan Services, LLC. - NMLS Company ID 330596

Wealth Building part 3

Wealth Building Part III

Get ready because I am about to talk about that dreaded, vial, hated, word. "Budget"

Have you ever gone to the ATM to get cash, and after reading your receipt, find yourself wondering, “Have I been robbed?” Most likely, we have all been there a time or two. Somehow our money just seems to dwindle when we don’t track our spending. Our next step in building wealth, therefore, is setting, and sticking with, a budget.

Creating a budget is as easy as looking at your income versus your expenses, determining spending and saving goals, and making a plan on how to reach those goals. In order to set a budget that you can live with, you will need to set realistic goals by first monitoring your actual spending over a fixed period, (a month or two works best) and getting an understanding of where your money is going. Keep a daily journal of each purchase you make, or bill you pay and categorize these expenditures.

Once you have a good grasp of your monthly outgo, it’s time to measure it against your income. At this point, you can get a good idea of your financial health and set your priorities and goals. A good basic budget consists of five categories; fixed expenses (mortgage, car payment, etc.), variable expenses (utilities, cell phone etc.), savings (try for at least 10% of your take home pay), a contingency fund (for unexpected/higher than expected expenses, say 10% of your take home), and spending money (entertainment, clothing, groceries, toiletries, etc). If you are spending more than you bring in, including setting aside money for saving and emergencies, then it’s time to look at expenses you can cut back on. Now write down your spending categories, and the amount you are allotting for each. Set reasonable goals for yourself and keep it simple. Budgeting is about being cognizant of your money, not about depriving yourself.

Now that you have created your budget, stick with it! No budget, regardless of how well thought out, works unless you stick to it. Here are a few tricks to help you stay on track:

• Pull the cash that you intend to spend for the week, out in one transaction. No return trips to the ATM to pull out additional funds. When the money you withdraw is gone, you are done spending for the week, period.
• Use the envelope system. Put the cash you are allotting for your variable spending categories such as dining out, clothing, and entertainment, in separate envelopes at the beginning of the week. Spend only what is in each envelope. If you do happen to overspend in one category, you must adjust another envelope to maintain your weekly budget.
• Leave your debit or credit card at home when you shop. Bring the only cash you intend to spend. You will buy less when it is your hard earned cash you are turning over .
• Review and adjust your budget as needed. Budgets can only work if you set reasonable expectations and make changes when necessary.
• Make use of budgeting tools. There are several websites that will help you set up and monitor your budget, Budgetpulse.com and Mint.com to name a few. There is also Quicken, an excellent software program for tracking spending and paying bills, as well balancing your checkbook.

Budgeting can be painless when you set yourself up for success from the beginning. Your reward will be a great sense of accomplishment that makes money management fun.


It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Office - 386-756-8228
Cell - 386-846-6686
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

The information above is pretty universal and widely discussed by most financial people, however, I have been using information for this series from the book The Millionaire Next Door: Surprising Secrets of America’s Wealthy.

Wealth Building Part 2

Wealth Building Part II
Let’s face it American’s love to spend and consumerism is alive and well. We can however, find creative ways to get the things we need and want, without breaking the bank. Here are 5 ideas that might work for you and your family:

1. Cut back on your biggest money drain. Do you pay for unused cell phone services, subscribe to extra cable stations you don’t need, (especially in the age of HULU and NETFLIX), or spend too much on food that ends up getting tossed away? When was the last time you reviewed ALL of your insurances? Home, Health, and Auto insurances have a way of creeping up over time just becasue the insurance companies think you are not looking. Take a few minutes to review this items and determine if you really need all of what you are paying for, and shop around to see if you can find better rates when your contracts and policies come due.
2. Research your purchases. Take a trip to the store to see an item in person and choose the model, color or size that works for you. Try it out or try it on to find the item that suits your needs, then do your research online. This way you can find the lowest price for the desired item, and you won’t have to spend money shipping back items that don’t meet your expectations. Don’t forget to check out discount and coupon sites to see if you can reduce your price even further.
3. Speaking of the internet, check out some money saving sites, such as Restaurant.com, and Gift CardGranny.com. Restaurant.com offers dining discounts at local restaurants. Buy a $25 certificate for $10, or a $75 certificate for $30. There are several different denominations, and many restaurants to chose from, making for big savings. Giftcardgranny, and several other similar sites are gift card exchanges. They purchase unused gift cards and sell them for less than face value. For example, you can purchase a American Eagle gift card for 23% less than face value. Keep in mind that deals change daily and that most of the cards need to be mailed to you (at no cost). You can sell your unused gift cards on these sites as well.
4. Plan ahead. Don’t wait until airfare goes up, or you have to use a credit card to purchase a special occasion gift. Set aside a bit of cash each week or month. You are much more likely to stick to budget if you have set aside a fixed amount to spend rather than anaesthetizing yourself by pulling out the plastic later.
5. Spend less on the weekend. The majority of us break our budgets on weekend activities, so why not try some free or inexpensive ways to enjoy your time off. Find free local events like concerts or movies in the park. Or how about learning something new. Take a free home improvement class at Home Depot, or learn a new skill on YOUTUBE. There are many classes and videos to choose from, no matter what your interests are. You can also host a movie night or potluck at home, visit the library or take a tour of a factory. (you can find free or low cost tours at FactoryToursUSA.com).
   
   Spending thoughtfully doesn’t mean enjoying life less. Get creative, think before you spend and enjoy your time at least as much as you enjoy your money.
   
   It's a Good Life!!!
   Greg Novak MBA
   NMLS # 329079
   Vice President / Partner
   American Mortgage
   Cell - 386-846-6686
   Office - 386-756-8228
   Fax - 386-756-8108
   Website - www.AmericanMortgageNow.com
   
   Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.
   
   FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Wealth Building Part 1

Wealth Building Part I
Over the next few weeks I will be reviewing and highlighting several points from the book The Millionaire Next Door: Surprising Secrets of America’s Wealthy. As followers of the book know, true monetary wealth is determined not by the size of your paycheck, but by the amount of your paycheck you are able save. On that note, I thought I might give a quick refresher on the basics of building wealth. Here are a few pointers to get you started or refreshed on the fundamentals of reaching your savings goals.

1. Eliminate debt. The first step to saving is, of course, having enough expendable income to invest. What is the best way to free up more of your income? Pay off your debt. Simply calculating the monthly amount you spend on debt repayment will illustrate that eliminating debt is the fastest way to free up money. The only saving that should take precedence over debt repayment, is setting aside an emergency fund of 2-6 month’s salary. Once this is done, pay off your debt and re-purpose the money to savings. Let interest work for you instead of against you.
2. Set savings goals. Short term goals can be as simple as setting aside cash for a new dishwasher. Achieving your short term goals helps keep you motivated to reach your long term goals, including saving for retirement. How much will you need to set aside for a retirement that could last 20 or even 30 years? Set your goals, seek financial advice if needed, make a plan and get started towards reaching those goals.
3. Make a plan. Figure out how much you will have to save per week, per month or per pay check to reach your goals. For most savings goals, it’s best to save the same amount per period. If you will need to purchase a $20,000. car in three years (hopefully after you have driven yours as long as long as you possibly can), you will need to set aside approximately $128. per week. It might involve cutting costs in other areas, but it beats making car payments for 5 years, and think of the interest you’ll save.
4. Track and trim your expenses. Go through your monthly budget and see what you can eliminate or cut back on. You may be able to live with a haircut every 6 weeks instead of 4, or get up just a bit earlier and eat breakfast before you leave for work instead of stopping off for coffee and a doughnut. Your wallet and your waistline will be the better for it.
5. Most importantly, stick with it. If you mess up, don’t beat yourself up. Vow to do better next paycheck. We all falter occasionally, but success comes to those who keep trying.

Most people would admit that saving for the long haul instead of feeling the instant gratification of buying the latest gadget is tough, but the rewards outshine any fleeting joy you may feel. True satisfaction comes with the security of knowing your future is set, and nothing beats that!
  
It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Problems

QUOTE>>> I am grateful for all of my problems. After each one was overcome, I became stronger and more able to meet those that were still to come. I grew in all my difficulties.
James Cash Penney
1875-1971, Founder of J.C. Penney Stores

Reading this quote made me think of an e-mail I received from a business partner of mine, so I am steeling it and forwarding the info to you.

Here is a link to an article about a guy who decided to take his problems to a new level. Rather than getting dejected, he got rejected, and it got him featured in Business Week and invited to be on a couple of talk shows. Click on this link or copy and paste and see this inspirational story about a guy who is turning rejection into something very positive and powerful.
http://finance.yahoo.com/news/rejection-therapy-hundred-days-no-022822280.html

What is the craziest thing you ever asked for or the biggest problem you ever had that made you stronger and you prospered from?


It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Attitude is Key

Personal Growth Quote: Attitude is Key

"There’s one key factor that will make this New Year the best one ever. That important factor is your attitude.
The way you most consistently decide to see life will play a major role in the way your life actually unfolds. Right now, as the year begins, make the choice to make your life, and your whole world, the best it can be.
Create a new, improved year by going through it with a new, improved outlook on life. Make this a great year by choosing an attitude that reflects your own unique greatness.
In the year ahead you’ll encounter many obstacles, and yet there’s one powerful obstacle you don’t ever have to deal with again. That obstacle, the one you can get rid of for good, is your own negative attitude.
Just because things can often get difficult, doesn’t mean you have to be difficult. No matter what the situation, a positive, empowering attitude is always your best choice.
Stride confidently forward with the highest and best expectations you’ve ever had. Your life this year is what you make it, so embrace an attitude that will make it positive, fulfilling and great." Cleo Shivers


I hope you have a fantastic 2013, and that it is your best year ever.


It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Achieving Success

Achieving SUCCESS = P + I + P + P + O = S

On July 20th, 1969 Neil Armstrong and Buzz Aldrin aboard Apollo 11 became the first men to walk on the surface of the moon. SUCCESS!!! A goal was set, a Plan was made, doubters and critics were Ignored, limits were Pushed, Positivity was promoted, and fears were Overcome. Success was achieved.

Plan - Create a PLAN with your Goals in mind. Your Goals are what you see as success. Just having goals does not automatically mean you are going to achieve them. You have to make a plan for each goal and put it in writing in a step by step plan to achieve that goal.

Ignore - Ignore all of the critics and doubters. No matter how big or small or crazy your goal may be there will always be someone to tell you that you can not do it. Ignore those people, they obviously don't know what success is. Surround yourself with successful people who will encourage and support you.

Push - Push the limits. Some people will tell you to know your limits so you don't go to far and fail at something or get disappointed. I say know your limits so you know what to push. People tell me all the time that they can not believe some of the things that my kids can do at such young ages. They play Hockey, and gymnastics, and climb trees, and ropes, and shoot archery, and do all kinds of things that kids their age don't do. Why because I have never told them they can't. Now obviously I protect them and do everything I can to keep them from seriously hurting themselves, but I let them do things where they push the limits. They might get a little hurt doing some things, but my opinion is that will only make them stronger. We have friends that are so over protective of their children they have conditioned them to not take risks and to be afraid of anything new. You must push your limits.

Positive - You must stay positive. Stinkin thinkin never helped anyone achieve success. Immerse yourself, in positive books, CD's, articles, other information, and surround yourself with other positive thinking people.

Overcome - In order to acheive success you must be an overcomer. You must be able to overcome your fears and past failures. Zig Ziglar says this about overcoming your past failures "Failure is an event, it is NOT a person. Yesterday really did end last night, and today is your brand new day. You have to make friends with your past, be focused on the present, and optimistic about your future. You know that success (a win) doesn't make you, and failure (a loss) doesn't break you."

Points of Fact - Here are a couple quick points of fact about the goal and race to put a man on the moon.

1. On May 25th 1961 President John Kennedy set the goal to congress that the United States would put a man on the moon and bring him back safely before the end of the decade.
 
2. Prior to the successful Apollo 11 Manned Moon landing, there were 15 failed lunar missions, 2 Partial success, and only 8 successful lunar missions. (3 of the 8 successful missions were crash landings into the moon. They were considered successful because they were able to break earths gravity and have the correct calculations to get to the moon. The partial successes were successful because they broke earths gravity, but the trajectory was off and they missed the moon.) (The Soviets had 28 Failed lunar missions and only 9 successful unmanned moon missions)


It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

HARP 2.0 - "Obama Loan" update

Good Morning,

     Back in December I wrote an e-mail post about current rates and “The Obama Loan”, more accurately Known as HARP 2.0.   HARP 2.0 has been back in the news a lot lately and I have received many inquiries regarding the program and how it works. 



     Back in November when the program was announced, the lending community did not know exactly how this program was going to unfold or what “overlays” to the guidelines they were going to place.   The one thing we did know is that whatever the guidelines on the new program were, they were not going to take effect until March 2012.  Fannie Mae published an update to its “Refi Plus” program which HARP 2.0 falls under, so I figured I would e-mail this information out because we are now getting very close to the launch of the HARP 2.0 program.



     Here is a link to the actual Fannie Mae announcement.  CLICK HERE  Then Click on the link for HARP 2.0 Guides in info,  or cut and paste this address to your browser.   http://americanmortgagenow.com/custompage-view.aspx?id=27

 

The Bullet Points – Here are the main points and things to know about this program to determine if you or someone you know may benefit from it. 

1^st – Your current loan must be a Fannie Mae or Freddie Mac Loan.   Here is a link to my website that has two Look up tools to determine if Fannie or Freddie owns your mortgage.  http://americanmortgagenow.com/resources.aspx

2^nd – You must be current on your Mortgage.  You cannot have had any late payments in the last 6 months and no more than 1 late in last 12 months. 

3^rd  - Loan to Value.  At this time we are not 100% sure what the loan to value restrictions are going to be on this program.  As you can see from the guidelines put out by Fannie Mae, they are removing the LTV limits from the prior HARP 1.0 of 125% to unlimited LTV.  Unfortunately, I doubt any lenders will truly offer unlimited LTV, I do however expect the maximum LTV requirements to go up significantly.  (You may have already seen lenders advertising that they are now doing the HARP 2.0 loan.  They are not, all they have done is increase their Max LTV to 125% to match the already in existence HARP 1.0 loan.  Many lenders previously were only offering LTV’s up to 105%) 

4^th  -  Removal of Bankruptcy & Foreclosure policy.  HARP 2.0 removes the required waiting periods and reestablished credit requirements to qualify for this program.  The only time you would have to credit qualify is if your payment is increasing as a result of the refinance.  This would occur if someone was going from an ARM, Interest only, or Negative Amort loan, etc. 



     I hope you find this information useful.  As we get closer to launch date and we receive more updated information I will be sure to pass it alone.  Please call me directly if you have any questions or would like to see if you will qualify for this program.  Greg Novak  386-846-6686.



Additionally here is a direct link to the Home Affordable Refinance Program (HARP) official website.  http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx

 

It's a Good Life!!!

Greg Novak MBA

NMLS # 329079

Vice President / Partner

American Mortgage

Cell - 386-846-6686

Office - 386-756-8228

Fax - 386-756-8108

Website - www.AmericanMortgageNow.com

 

Oh, by the way,  If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

 

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

 

NOTE: THIS IS A CONFIDENTIAL COMMUNICATION. This transmission is intended only for the use of the individuals or entity to which it is addressed. If you are not the intended recipient, or the person responsible for delivering the message to the intended recipient, please return it immediately.  Although this email and any attachments are delivered to be free of any virus or other defect, it is the responsibility of the recipient to ensure that it is virus free and no responsibility is accepted by us for any loss or damage arising in any way from its unauthorized modification or use.

Rates & "The Obama Loan"

So the news Media has been Harping on two subjects lately regarding the mortgage industry, I figured i would really quickly touch on both of them.

First, Rates. Rates again are pushing all time lows in the 3's and APR's in the high 3's or low 4's. Now truly is a great time to buy or refinance.

I recently refinanced a client who had a 30 year fixed rate of 6.25%. We refinanced them to a 15 year loan and there payment only changed by $6 per month.

If you know anyone who is thinking about buying or refinancing, please have the give me a call. Greg Novak 386-846-6686



Second, "THE Obama Loan." I have received a number of calls from people seeking information on the new "Obama Loan". I figured a lot of people are probably curious about the loan and what the actual facts of what the program entail.

1st - Lets get my political opinion's out of the way. The Media hype and spin Washington has put on this loan is not a whole lot more than campaign efforts to help with their re-election. Once again, Washington has failed to come up with a program to help the people who need it the most.

2nd - Facts about this loan. It already Exists. The actual name of this loan is HARP 2.0. It's predecessor and current sister loan HARP 1.0 has been out and in the tool belt of the mortgage industry for over 2 years now.

3rd - Facts about the current program. The HARP loan was designed for people who currently are able to make their mortgage payments and have not had any late payments in the last 12 months. The applicant for HARP must be able to prove income, assets, and credit worthiness. Qualifying for a HARP loan is basically the same as qualifying for a standard fannie mae mortgage refinance, with one exception, the Loan to Value. HARP currently allows you to refinance your current 1st Mortgage as long as your total combined Loan to Values, including all subordinated loans does not exceed 125% of the appraised value. You can not combine first and second mortgages together. The second mortgage must be willing to re-subordinate and the total can not exceed the 125% loan to value.

4th - The Change. HARP 2.0, "The Obama Loan" only changes one thing, and that is the loan to value restriction. HARP 2.0 is supposed to remove restrictions on loan to value allowing home owners to refinance their home regardless of what they owe on it vs how much it is worth. You still can not combine firsts and second mortgages, and contrary to what seems to be a popular belief, the government is not going to reduce your loan balance down to what the appraised value is.

5th - The bad news. The bad news is that although this mortgage was supposed to take effect in the beginning of November, Fannie Mae has announced that they will not be adjusting their underwriting systems to the new program until at the earliest March 2012. Therefore, lenders will be unable to sell loans based on the new guidelines and will not be offering them until that time. Additionally, current speculation is that no lender is actually going to allow unlimited Loan to Value. It is expected that the current 125% max will increase, but lenders will impose their own overlay's based on their own desired risk tolerances for LTV.

6th - The Good News. The good news is that, as I stated before, this loan already exists. You can have all of the benefits of this new great super loan right now with one exception, and that is the max 125% loan to value. So if you think that you may benefit from this loan and you owe less that 125% of what your home is worth, give us a call. Greg Novak 386-846-6686

Here are a few links to some news articles regarding the Updated HARP 2.0.

HARP 2.0 – The New Mortgage Plan http://smartmortgageadvice.com/?p=942

Sizing Up HARP 2.0 http://www.smartmoney.com/spend/real-estate/sizing-up-harp-20-1322685479452/

HARP 2.0 rules, and who will benefit http://www.marketwatch.com/story/harp-20-rules-and-who-will-benefit-2011-11-18

The Official Website Home Affordable Refinance Program (HARP) http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx

It's a Good Life!!!

Greg Novak MBA

NMLS # 329079

Vice President / Partner

American Mortgage

Cell - 386-846-6686

Office - 386-756-8228

Fax - 386-756-8108

Website - http://www.americanmortgagenow.com/

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Do you Have It????

What is it? Most people would consider IT to be success. But Success is a relative term, it means different things to different people.

Good Morning,
This week I have decided to take a break from the market updates and mortgage info to discuss a personal growth topic. I will take a moment to define success and then discuss some key characteristics of the Successful Person.
It's a Good Life!!! Greg Novak, American Mortgage, 386-846-6686

IT = SUCCESS ???

First let's define success. Wikipedia defines success as the following: "Success might mean, but is not limited to: a level of social status, achievement of an object/goal, or the opposite of failure."

First of all, I personally disagree with success being defined as a level of social status, because in my opinion social status has nothing what so ever to do with success. Some of Hollywood's most social elite, might have a ton of money, but are far from what I would consider to be successful. Case in point the "WINNING" train wreck Charlie Sheen. He might have tiger blood, but success he has not.

The only one of those statements I can go along with is the achievement of an object or goal. Additionally, I don't believe that success is static, I believe that success is is constantly changing for each individual person. My definition of success was very different 10 years ago, from what it is today, and I am certain it will be different 10 years from now. Perhaps even 1 year from now.

THAT is how you can determine whether or not you are Successful, If your definition of success is constantly changing and advancing because you have reached what you used to believe was Success.

Success is Relative, so lets take a quick look at some different individuals views of success.

• To the new graduate success could mean getting a decent job in this economy.


• To the addict, success could be staying sober for a month, a year, a decade, etc.


• To the lonely person, success could be finding a friend and companion, or love.


• To the couple struggling with infertility, success could mean a healthy baby.


• To the rich billionaire, success might mean giving away his fortune.


• To a lot of people, success is constantly moving forward in a positive direction.

 

Here are some Characteristics of Successful people.

1. Highly Self Motivated- People who have achieved personal success are motivated by what that success means to them and it their drive to achieve.


2. Strong Ethics and Integrity- Although success means different things to different people, I believe that no matter who you are, you will never be truly successful unless you have a clear conscience. That is why acting with Ethics and Integrity in everything you do is so important.


3. Willingness to FAIL- Success is not always about winning. Success is about learning. Some of the best life lessons I have learned have come from Failed attempts at Success.


4. Have Goals and a Plan- People typically don't stumble upon success. You have to decide what you want (Make a Goal), then break down the steps of what you have to do to accomplish that goal. Have a roadmap for success.


5. Great Salesperson - Successful people have to be great salespeople not because they are selling things to other people, but because you have to constantly be selling yourself on the fact that YOU CAN. You can succeed.

It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Perseverance

This morning I was speaking with someone who was complimenting me on my perseverance and how impressed he was that we have been able to do so well over the last few years with what the real estate and mortgage industries have gone through. I thought it would be nice to share some encouraging words and information with you as well. Below is a really great paragraph on perseverance along with a few video links to a short interview with someone on the 60 minutes TV program.

PERSEVERANCE

Perseverance is a month by month, week by week, day to day, and for some, even an hour by hour decision not to give up. Wikipedia defines Perserverance as a persistent determination; to adhere to a course of action; and persistence.

In the videos below, the interviewer asked the subject if he feels as if he has a disability. The subject of the interview states that "The definition of disability is something that is stopping you from being able to do something. In my life there is hardly anything that I have found that I can not do."

The individual who is the subject of the interview is Nick Vujicic. Nick was born with out arms and with out legs. Nick is an amazing individual and has preserved through some of the most difficult trials and lowest times that anyone could imagine. Nick is 28 years old and has a college degree, and has been extremely successful as an entrepreneur. Even though Nick may be what most consider as physically disabled, he is in no way a disabled person. To me Nick is the definition of Perseverance.

I highly encourage you to take a look at the video's below, and then ask yourself the following question. Even though, I am not physically or mentally disabled, or even if you are, Is there something that I have given into, that is holding me back, that I am using as an excuse, and that I am not persevering past?

If there is something that is holding you back from reaching your goals, making the money that you want to make, getting the job you want, or that promotion, etc., once you identify it, you can start to overcome and push past it.

Have a great weekend, enjoy the videos.

Nick Vujicic - 60 Min Interview - Part 1 -

Nick Vujicic - 60 Min Interview - Part 2 -

Nick Vujicic - Robert Schuller interview -

It's a Good Life!!!

Greg Novak MBA

NMLS# 329079

Vice President / Partner

American Mortgage

Cell - 386-846-6686

Office - 386-756-8228

Website - www.AmericanMortgageNow.com

 

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

 

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

 

Great Day, ALL DAY

Do you ever wake up on the wrong side of the bed? Believe it or not, I don't always wake up the bright and shining, smiling face you see during the day. For my weekly Blog, I put together a list of 10 easy things you can do to Make today a Better Day. Take a look at the list below, and a couple links to some inspirational video's below that.
Don't forget, if you happen to know anyone who is talking about buying or refinancing a home, please give me a call. I will take good care of them for you. 386-846-6686. Greg Novak www.AmericanMortgageNow.com

10 Steps to have a Great Day, ALL DAY!!!

1. Wake up a few minutes earlier - Rather than waking up with just enough time to run out of the house 5 min late, set your alarm clock 15 min earlier, and take your time getting ready. This way you won't forget the deodorant.


2. Talk to yourself - The first thing you should say to yourself when you wake up is, "Today is going to be a great day". After you say this enough times you will start to believe it, and until you do, at least you will make yourself laugh.


3. Get inspired and Resolve to have a positive attitude - Purchase some motivational cd's or music. Instead of watching the negative morning news, play these CD's and get some inspiration and a positive attitude for the day. Click Here for the link to my Blog on Being Positive.


4. Eat a Healthy Breakfast - Fruits, Protein, and Whole grains will give you a good kick start and the energy you need to go until lunch. Then eat healthy the rest of the day. Treat yourself every once in a while, but those fried foods and burgers will weigh you down and make you sluggish putting the slow down on your express pass to a great day. Eat a health Breakfast Link


5. Think Before you Say and Do - It is hard to take back negative words and actions. It's hard to have a great day when you are feeling bad about something you said.


6. Practice Good Time Management - Have a plan for the day, stick to it. Don't be distracted by things that will not help you reach your daily goals like the social media's, TV, and websites that don't apply to your work.


7. Don't be so Serious - Part of having a great day includes having some fun. Make sure you schedule some time to enjoy yourself. Try to spend time with people who are fun and make you laugh. Laughter releases endorphins and neurotransmitters that have pain-relieving properties, and make you feel good. You can help but laugh at this video.


8. Make someone's Day - Complimenting someone else, being kind, and courteous to others will help them have a good day. When you make someone else feel good about them self, you will make yourself feel good about you.


9. Avoid the negative people - You know the ones in the office that are ALWAYS complaining about something. Stay away, don't get sucked into their negativity. It's like a negative person has super powers when it comes to destroying the foundation of your great day.


10. Prepare for tomorrow and Go to Bed Early - As an old Boy Scout, the motto Be Prepared has always stuck with me. One of the best peices of advice I can give you about having a good day tomorrow, is to plan and prepare tonight for tomorrow. Make lunches for the kids tonight, lay out and Iron your clothes tonight, pack up your brief case tonight. When you do these things at night instead of the morning, then you dont have to worry as much when you can't accomplish #1 on this list.

Here are a couple of video's to check out.
What to Say when you talk to yourself
Why you should eat breakfast
How to be more productive

It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Vice President / Partner
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Press Release

    American Mortgage Loan Services, LLC., an Altamonte Springs, FL base mortgage broker is expanding into Volusia County.  In a time when most banks and lenders are downsizing or closing, American Mortgage as a broker is doing very well and expanding.  Local loan officer, and former branch manager for Eagle Nationwide Mortgage Company, has Joined American Mortgage as Vice President and Partner, to develop and cultivate the Volusia County Market.  Novak has been in the mortgage business for 10 years, has a Bachelors Degree in Finance and Marketing, and a Masters Degree in Business. 

    I am very excited about the opportunity to develop a presence and a Brand for American Mortgage in this area and we are currently hiring experienced, professional Loan Officers.

    With the major changes to the mortgage industry that are set to take effect April 1^st, I believe that the Mortgage Broker is going to have a huge advantage over a Bank or Lender.  Consumers are going to have more options and ultimately will obtain a better deal and loan that fits their needs from us.

Contact Greg Novak anytime to apply for a Mortgage, or Employment if you are approved with the NMLS. 

386-846-6686  Visit us on the web at www.AmericanMortgageNow.Com

 

 

It's a Good Life!!!

Greg Novak MBA

NMLS # 329079

Vice President / Partner

American Mortgage

Cell - 386-846-6686

Office - 386-756-8228

Fax - 386-756-8108

Website - www.AmericanMortgageNow.com

 

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

 

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Be Positive Today

Good Morning,

My last few blogs have been all about business, so today I decided to pass along a little personal growth info.
I don’t know about you, but it seems to be getting more and more difficult to keep a positive attitude with all of the negative news and the struggling economy.
So, I decided to send you some good news. Below are several links to some positive stories that hit the news papers. (yes, believe it or not, I was actually able to find some) Also, below are a few tips to help you keep control and maintain a positive outlook.
As always, please keep me in mind for any one you know who needs to buy or refinance a home. Greg Novak (386) 846-6686 www.AmericanMortgageNow.com

Stay Positive Today

Step 1- Avoid watching the news in the morning. If you want to know that weather, just check weather.com, if you want to check the traffic you can do that online also.

Step 2- Write some positive affirmations and tape them to your bathroom mirror so the first thing you see in the morning will help you get started on the right foot. (For instance: Today is going to be a great day. Or, I am having my best year ever, and things that are specific to you, etc.)

Step 3- Sleep!!! Make sure you get enough sleep. Let’s face it, your grumpy when you are tired.

Step 4- Eat Healthier. Make a decision to eat healthier foods. This one has been a struggle for me, but I do my best. And, I feel a lot better about myself when I eat a turkey sandwich and an apple, than when I have a Big Mac and Fries for lunch.

Step 5- Avoid the negative people. You know the ones in the office that are ALWAYS complaining about something. Stay away, don't get sucked into their negativity.

Step 6- Lastly, remember there is a difference between successful people and unsuccessful people, and across the board successful people look at change and adversity as OPPORTUNITY. Unsuccessful people assume all change and adversity will be negative. Whether the change or adversity is negative or positive you must believe that in the long run you will benefit and learn something. It is an opportunity!


Here are some links to some recent news that you may have missed because it was buried underneath the “stuff that sells” the paper.


The Happiest Carreers in America

Making Money & Doing Good

Homeless man finds $1,400 and returns it to the owner.

Teacher for America = $100,000,000

Marriage on the run


It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Assistant Vice President
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - www.AmericanMortgageNow.com

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA-American Mortgage Loan Services, Inc. - NMLS Company ID 330596

Realtors, Don't Miss Out!!!

Have you ever walked away from a home with a buyer because it needed repairs?
Do you have a listing that needs Repairs?

Regardless of how you answered those two questions, you need to be familiar with the FHA 203k Renovation Mortgage.
In today's real estate environment, this mortgage can be a valuable tool.

Below is some basic information about the program and a couple of links to a video blog that give more detailed information as to why having information and educating yourself about this mortgage can benefit you and the clients you work with.

We are experts in closing this loan, and have worked with many 203K borrowers. This loan is not difficult if you know what you are doing, and we know what we are doing.

Don't be afraid to show a client a good home that needs a little repair, or one that the listing agent says in the MLS it won't pass FHA. This loan will help that buyer purchase and fix up those homes. Not only is this loan good for your buyers, but it is good for our real estate market in general. With this loan we can get more homes off the market that are hurting our overall values.

If you have a home listed that needs repairs, call me and I can give you 203k fliers to place in the listing so buyers and their realtors who are not aware of this mortgage wont walk away because they don't have the money to fix it up out of pocket even though they like the house.

203k Info Video 1

203k Info Video 2


Program Bullet Points:

· Purchase a Home and Finance the Repairs Needed.
· Only 3.5% down required from Buyer.
· Seller Can pay Closing Costs & Prepaid expenses. (Up to 6% of the Purchase Price)
· Replace an old or damaged roof.
· Replace old or damaged Heat & AC units.
· Purchase & Install New Appliances. (Refrigerator, Stove, Dish Washer, etc.)
· Make repairs to a property in disrepair due to a foreclosure Situation.
· Make upgrades - Update Kitchens and Bathrooms, Replace & Change Flooring, Paint Interior or Exterior, etc…...

Don't Forget!!! I work weekends!!! Call me any time for a pre-qual, or questions.
Have a Great and Profitable Weekend.

It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Assistant Vice President
American Mortgage
Cell - 386-846-6686
Office - 386-756-8228
Fax - 386-756-8108
Website - http://www.americanmortgagenow.com/

Oh, by the way, If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

Lift off of American and Discovery

With the launch of one of America’s greatest achievements yesterday, the space shuttle discovery, I thought I would take a moment to give you some interesting facts about the shuttle and introduce you to something as American as apple pie.

American Mortgage is the premier mortgage broker in the state of Florida. After a lot of research and consideration, I am proud to say that I have affiliated myself with this company and look forward to a long partnership with them. For over 25 years American Mortgage has been providing mortgage assistance to Florida communities. We work with our clients to create a desirable mortgage that will best fit their needs and goals. I can provide an affordable Fannie Mae, Freddie Mac, VA, USDA, or FHA mortgage, for a purchase or refinance; we shop lenders to providethe lowest rates available. We also provide the fastest turn times and can close in less than 30 days. As a locally owned mortgage broker, we understand things the big banks don't and realize that only two things matter.

• First and foremost, that we provide impeccable service and are accountable to every need and request of our mortgage customers.
• Second, that we make sure our customers receive the lowest possible mortgage interest rate and fee structure that a mortgage company can provide.

Give me a call anytime if you or someone you know is buying or refinancing a home; remember I work weekends. Greg Novak 386-846-6686. For more info, check out our website. www.AmericanMortgageNow.com

On to the cool stuff! Here are some interesting Facts about the Space Shuttle Discovery.

NASA's most heavily travelled spacecraft, the shuttle Discovery, has had a storied 27-year career that has broken ground in many ways.

Here are some facts about the shuttle and some of its most memorable moments.

• First mission, STS-41D, was on August 30, 1984.
• Has completed 38 missions, and logged more than 5600 trips around Earth.
• Traveled a total of 230,003,477km so far, will add 7.2 million km on this final trip.
• Spent 352 days in space until now, for a total of 363 days by the end of this mission.
• Carried the Hubble space telescope into orbit in April, 1990.
  Has twice been the first shuttle to return to orbit after a major disaster: in 1988 after Challenger exploded in 1986; and again in 2005 after Columbia disintegrated in 2003.
• Is the oldest shuttle in the three-member fleet, due to the demise of Columbia and Challenger which were older.
• Was the first shuttle to be piloted by a woman, Eileen Collins in 1995.
• First shuttle to be commanded by a woman, also Collins, in 1999.
• Carried the first African-American astronaut spacewalker, Bernard Harris in 1995.
• Transported first sitting member of Congress in space, senator Jake Garn in 1985.
• Delivered part of Japan's Kibo laboratory to the ISS in 2008.
• Was the first shuttle to rendez-vous with the Russian Mir Space Station 1995.
• Has received 99 upgrades.
• By the end of this mission, will have transported 180 people in total.

The information about the shuttle was found on Nasa.gov.

Here are a couple of links to videos about the space shuttle and Discovery’s final launch.

http://dsc.discovery.com/videos/when-we-left-earth-the-shuttle.html
http://video.foxnews.com/v/4555653/discoverys-final-liftoff

It's a Good Life!!!
Greg Novak MBA
NMLS # 329079
Assistant Vice President
American Mortgage
Cell- 386-846-6686 Office - 386-756-8228
Website - http://www.americanmortgagenow.com/

Oh, by the way,If you know someone who is thinking about buying or refinancing a home, please give me a call with their name and number, I will be happy to follow up with them for you.

FLORIDA- American Mortgage Loan Services, Inc. - NMLS Company ID 330596