Lack of credit power and the desire to learn what it takes to qualify!
A borrower can only qualify for an “A” paper loan if they prepare in advance. The mortgage an applicant chooses is limited to their qualification. An applicant can understand the terms of the mortgage, but can only qualify and pay low interest rates by choice if they have credit power!
Many people do not have the desire to build their credit power or learn the difference in the types of mortgage loans available; therefore they sign loan documents they do not understand. During the latest real estate boom many applicants were not prepared but were willing to own a home at any cost.
I educate people on how to prepare to qualify for a good mortgage loan, types of loans available, how to build and protect their credit power and what questions to ask during the loan process.
The steps and importance of establishing credit power in order to purchase a home is also addressed in the book I just released. It's title is: CAPITALIZE on CREDIT POWER.
This book was written from experience and from my heart, because I really enjoy helping people. As a mortgage broker, I did not have the heart to saddle anyone with a sub-prime loan; therefore I helped people build their credit power so they could buy a home with a good loan.
Book excerpt:
This book is different. Its intent is to prepare the reader to become what I call a “Highly Qualified Applicant (HQA)”. A HQA is someone who knows a lot about how credit works, and has taken steps in their financial life to develop a measure of CREDIT POWER. The HQA as I envision them will have already done the necessary things in their financial life so they can truthfully answer the application questions and have a qualifying loan application result. I call them “Credit Masters”.
A “Credit Master” is a person who:
• Is prepared to answer the questions that will be asked on a loan application.
• Has available the documentation required by the lender.
• Knows many of the terms being used in the loan application process.
Find glossary at http://www.hud.gov/offices/hsg/sfh/buying/glossary.cfm
• Is financially literate to protect themselves from predatory lenders who take advantage of the general lack of knowledge.
• Has credit power and buying power.
• Will qualify for the best loan programs available.
Financial intelligence is necessary to build CREDIT POWER. Once you have reached the financial status you need to correctly document your qualifications you will be able to obtain the best loans available at the time you apply.
I saw the need a few years ago to educate people starting with high school senior age and up.
I plan to approach high schools and colleges and ask that my book be listed as suggested reading. It should be a required course in high schools and colleges.
Real estate agents and lenders use my new book, “CAPITALIZE on CREDIT POWER” as a test. If a non qualified borrower is not willing to read and follow the program in the book, why should they be willing to spend the time helping the borrower? The borrower must be willing to make the effort and unfortunately many do not have the desire to learn about mortgage loans or how to build their credit.
Having credit power also puts a person in a position to capitalize on a depressed economy.
I am interested in helping the entire country. If we all paid our bills on time, we would all pay lower interest rates.
Book excerpt:
Why do we need CREDIT POWER?
Your personal need for CREDIT POWER is for you to determine. The desire to have credit power must come from within you. No one can force it on you. CREDIT POWER has given me an easier and less stressful life. I know it can do the same for you.
After reading this book you will understand how you too can live easier and remove financial stress from your life. When you can make decisions based on your financial best interest, instead of making decisions in a panic mode, your stress will melt away. You will be able to pay lower interest rates by choice and waste less money on high interest rate loans. Credit will cost less when more people develop CREDIT POWER. We will all pay lower interest rates if more people pay their bills on time. When people default on their bills, someone else is going to pay. You and I are that “someone else”. Interest rates are inflated by lenders to cover the percentage of debts people never pay.
By spreading the word and educating our family, friends and customers, we can do our part to help reduce the inflated interest rate lenders find so easy to charge. As you have witnessed with the bailouts, we are now being forced through our tax dollars to pay for other peoples debts.
© 2012 Credit Whisperer®
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