Good Faith Estimate Book Update

It's been a while since I updated and thought I would let everyone know about my progress with the book. I'd also like to ask for your help with regards to e-book publishing and marketing.

I am attempting at my first attempt to attempt to write a book. As you can see, I'm trying very hard. It's been a long process, but not because of the painstaking effort and research that I've been doing. Mainly I just haven't been consistantly writing. I've gotten quite busy with my mortgage business, especially after the Holidays. The weather hasn't gotten bitter cold yet so it's enticed buyers out into the Real Estate market.

I've been writing in spurts up to this point. I have no idea how much material I really have because I've just been spilling my brain out into an old-fashioned Notepad file. If I can get time to jump back into it, it wouldn't take me long to finish.

When I do reach that finish line, I will be in uncharted territory for myself. The daunting task of publishing and marketing still lies ahead. I have plenty of ideas, but I don't have the technical saavy to make a lot of them happen. If anybody would be kind enough to volunteer to help me in my crusade to educate the mortgage consumer, I'd certainly be grateful for your help.

I may look at the option of hiring someone if they are competent and agree to be paid from the proceeds of their marketing efforts. I'm a firm believer of putting your money where your mouth is and of standing behind your product.

After I have written the last word, here is what I would need help doing:

• Decide whether to publish as a book or e-book
• Make it look all pretty as a pdf file (clipart, proper spacing, all that makes it pleasing to read)
• Design and write a marketing page (squeeze page)
• Set up a way for people to buy online including a new website for this purpose
• Marketing to consumers. Establish joint ventures and affiliate program.
• Anything else that would help make this a best-seller

I apologize for the self-serving post, but I believe the end result will serve you tremendously. I am breaking the entire Good Faith Estimate down in layman's terms and explaining exactly where your money goes. I go past the numbers and explain exactly what service you should be receiving from all parties in the process and how much you should be paying for them. I'm going to include a sample Good Faith Estimate template with all costs. Real good stuff if you ask me.

Please, please, please contact me and let me know what you would like to see included in the book. I'd like your help so that I can get it right the first time.

If you'd like to help me turn this into a reality, email my direct address: kblasi@unifpinc.com

The Subprime Mess: Now What?

I explained in an earlier post that I would tell you what the whole Subprime Mortgage Mess means to you and how it changes everything. Then I went off on a credit scoring tangent. I apologize.

The world is a different place now. A few short months ago, you could have been able to secure 100% financing with a 580 credit score and practically no money in the bank. Those days are gone.

Now, you have to work for your approval. You have to get educated about the world of credit and how you can take advantage of knowing what other people don't. That's the whole idea behind this blog!

The subprime banks all went belly-up. What's left? Well, mostly two options: conventional financing and FHA financing.

Conventional financing is great! The interest rates are low, however, plan on paying for Mortgage Insurance, or PMI. PMI is an extra charge that you need to pay that kicks in when you finance more than 80% of the house's value. You can get around this by breaking your lending up into two loans: an 80/20.

Conventional financing uses an underwriting model to determine approvals. Generally, you'll need credit scores in the 600's to qualify. You'll need a 680 to qualify for the 80/20 option. If you have less than perfect credit, you can sneak in an approval by showing significant assets. Those underwriting models love assets. Even if you have a large 401(k), that could be enough to give you the approval you're looking for.

FHA is another option. These programs take more time and effort to underwrite. I figure that's why they haven't been very popular. Now, they are a great way to not only get an approval for a less than perfect credit borrower, but to get the finest rates under the sun! There is also a PMI requirement for this loan, but the government makes the PMI much more affordable in an FHA loan.

My advice? If you're thinking about buying or refinancing within one year from now, go to a local mortgage company immediately. Tell them your goals and take this opportunity to get expert advice on your credit report. Ask them what you have to do to become approved in the time period you are working with. And then do what they say! Take action to improve your credit to get the best possible approval.

Also, stay tuned for my Good Faith Estimate Report E-Book. It's just about finished and it's lookin' good. I'll keep you updated.

Exciting Times!

Hey guys. I haven't blogged in a while but there's a very good reason for that. (This time, it's not just my new son) I've been expanding my business and I just started writing an Ebook.

This would be my first eBook so I could use some help. I've taken questions that you've asked and am using that as the content that I need to include in the book.

I'm going to have a Good Faith Estimate Template with a layman-terms breakdown of every single fee so you can see where your money is going.

I'll also take you through the steps of the mortgage process so you know what to expect.

Now, here's where I need you guys and gals. What other questions or concerns do you have that you would like to see in this Ebook? This is your chance to get all your questions answered! Leave as many comments as you can!

Also, if there are any experienced Ebook marketers that could mentor me on my first project, I'd love to hear from you.