Dear Friend,
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The "Real Estate News" - brought to you by Cathy Smith of XYZ Realty. You can reach Cathy at 777-555-4444 or by e-mail at cathy@herdomain.com for all your real estate needs.
In this issue I would like to bring a very important matter to your attention.
I am talking about errors and mistakes that happen every day to homeowners of any property. This issue of the "Real Estate News" may help you if you are a victim of "computer misinformation."
Throughout the years in my real estate career, I have both experienced and read about enormous errors in tax and mortgage information that can adversely affect you when you are ready to sell your home.
One of the most incredible stories I read about was from an agent in Las Vegas, NV. He went to list a property owned by a seller who was 75 years old. There was a 30-year VA loan against the property. While the agent was writing up the listing paperwork, the seller told him that she and her husband had purchased the house 35 YEARS AGO!
Immediately a question came to his mind: "What is going on?" The home was purchased on a 30-year loan 35 years ago and she is still making monthly payments of $675? Yes, it was a "computer error." What happened?
The wrong information + the wrong program in the computer = money out of your pocket.
There are numerous instances of mortgage companies charging the wrong the monthly payment - principal + interest was miscalculated.
There are numerous instances of the Tax Assessor charging too much in property taxes because the WRONG INFORMATION is in the computer - the wrong square footage, the wrong improvements, even the wrong house!
If you had to pay for mortgage insurance when you took out your home loan, you could have another problem. Once your equity position reaches 20% of the appraised value, the lender MUST drop those mortgage insurance premiums which are included in your monthly payment.
What can you do about these possible errors?
You can do it yourself if you want to. Or I can help you.
The first thing you have to do is establish your CORRECT monthly payment.
If you have a financial calculator, this is what you do:
1. Enter loan amount and press PV
Now take your annual property taxes and annual homeowner's insurance premium,
add them up and ÷ by 12. This will give you the correct monthly amount for Taxes + Insurance.
Now add the P & I payment to the 1/12th of Taxes & Insurance and you will get the CORRECT PITI payment.
Other charges that may be included could be mortgage insurance for equity under 20% or charges the lender calls "reserves" which are in addition to the actual taxes and insurance. Sound too complicated for you? I can help. Just give me a call at the number below and I will be more than happy to assist you.
Watch for the next issue of "Real Estate News" where I will show you how you can verify your taxes and mortgage insurance premium.
Be prepared BEFORE you put your house on the market! I can help you put more money in your pocket!
If you know someone who is thinking about buying or selling a home, please let me know. I will give them the very BEST SERVICE possible.
Thanks again for your business!
Sincerely yours,
Cathy Smith, REALTOR©
If you must sell a home FAST, click on the link below:
If you are planning to buy a home, click on the link below:
Visit my web site and learn more about me:
Either you or I will need the following information:
* The EXACT loan amount which you can get from your closing documents.
* The APR which is also on your closing documents.
2. Enter number of months of the loan and press N
3. Enter APR amount and press ÷, 12, = %i, 2nd, PAYMENT
This will give you your correct monthly Principal + Interest (P & I) payment.
XYZ Realty
100 Main St.
Anytown,USA
Phone: 777-555-4444
Fax: 777-555-1313
E-mail: cathy@herdomain.com
To see my new listings, click on the link below:
http://www.roadtowealth.com/listed.htm
http://www.roadtowealth.com/listed.htm
http://www.roadtowealth.com/sellfast.htm
http://www.roadtowealth.com/sellfast.htm
http://www.roadtowealth.com/buyerinfo.htm
http://www.roadtowealth.com/buyerinfo.htm
http://www.roadtowealth.com/agentsample.htm
http://www.roadtowealth.com/agentsample.htm
Keep in mind that the Internet and e-mail are the wave of the future. If you wanted to mail out 1 million letters by 1st class USPS mail, it would cost you 34˘ for postage, 5˘ for the envelope, and it would take two able-bodied people 625 days to get the entire mailing ready to go out. (I used to mail 8,000 pieces a month, so I know exactly how long it takes to prepare.) The cost - without any labor costs - would be $510,000. But you can send mail electronically (e-mail) for almost zero cost. And if you have the right software it may only take one hour to do it!
Now, if you prefer to make your own newsletter, that's fine. You can use the criteria above to help you. Just keep in mind, it takes time and effort - which you could be using to get a new listing!
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