About 2 weeks ago you called me about a strategy you had implemented and wanted to share with the group
RecapRich has a cool idea to get refinance opportunity’s with current FHA mortgage holdersRich writes an email letter explaining the benefit of the recent FHA MIP rate decreaseRich sends the email to CPA’s, Tax Preparers, Real estate Agents and follows up with a phone call explaining the benefit
Rich makes some money refinancing a family and saving them $260 a month
Rich Real estate agent partner gets 2 listings from sending something of value to his past clients
3 Ways to Roll1. Credit Qualifying
2. Non-Credit Qualifying with Appraisal
3. Non-Credit Qualifying without Appraisal
Net Tangible Benefit TestDepending on the scenario, the Net Tangible Benefit test will vary. Here are 2 examples:-Fixed 30 to Fixed 30- 5% decrease in Principal, Interest and Annual MI payment-Fixed 30 to Fixed 15- Minimum 5 year decrease in Remaining term