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Welcome To MortgagePro News !!
Your Business Resource On The Internet Richard HeadShot
Are you feeling the pressure of the decline in the mortgage industry? Are you wondering where your next lead will come from? Are you afraid you will not be in business by the end of the year? Do you take your cell phone to bed with you to make sure you do not miss a call?

We are here to help. We bring together in one convenient place all the resources to help keep you on top of what is happening and the training to help you make your business Thrive Now!!

Click the "Read More..." link below to find out how we can help you!
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Ask The Expert

How Much Direct Mail?
Written by Dave Hershman   
Q: I seem to be struggling with some of our loan officers about how much direct mail we need to send to get a good response.  In my humble opinion a 1% call rate on direct mail is good.  Can you offer any advice on these two thoughts? 

Thank you,
Christopher Wilhelm  Business Development Coordinator
 
A: Christopher--you are asking the wrong guy. When they come to my class for advanced training they come in asking question such as---where do I purchase leads?  When they leave, they want to stop sending out direct mail and start building up a referral system the right way. In my opinion--though this
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Spotlight Article

What Seniors Should Know About Reverse Mortgages
Written by John Campbell   
What Seniors Should Know About Reverse Mortgages

What Seniors Should Know About Reverse Mortgages
By John Campbell

A reverse mortgage can make good financial sense if you're an older person with a lot of equity in your home but strapped for cash.
If you're 62 years of age or older and no longer have a preexisting mortgage or owe very little on your existing mortgage you can transform your home equity into cash. This can be done with no increase in your taxes and shouldn't affect your Social Security or other benefits. You don't even have to give up the title to your home.

As with any mortgage, you may be responsible for paying a number of fees and closing costs to obtain the loan. Unlike a traditional mortgage or home equity loan, however, the principal and accumulated interest is not due until you sell your home or move out under most circumstances. Your loan may become due immediately if you fail to keep up with your normal homeowner's expenses including property taxes and homeowner's insurance.

If you die before the loan is paid off, the loan will be paid directly from your estate. Any remaining equity in your home will go to your heirs. Any other assets in your estate will remain untouched. With a reverse mortgage you don't have to worry about passing your debt on to your estate or heirs.

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