Leadpile's Blog» Mortgage Homeowner Leads

Another Hiccup In The Housing Market?

Mari Woods Holt — Wed, 13 Oct 2010 16:36:46 +0000

Just when things were hopefully starting to try and go in the right direction, it seems that there might be a change in that “positive” direction with our housing market. Reuters is reporting that 49 states in our nation have their attorney generals investigating allegations that there were banks not following the proper foreclosure procedures. Alabama was the only state in our nation to not pursue investigations into the lenders practices. No one is sure why that is at this time.
Some banks are not admitting to doing anything wrong, however Bank of America has currently halted any evictions for the time being. Other banks are not admitting any wrong but they are saying they followed the correct protocol in order to foreclosure on homes. What affect is this sort of controversy having on our economy? Of course when things are going right, or there is an election coming up, there are going to be people pointing fingers at each other. However, the question really is, did our nations mortgage lenders try to cut corners on processing foreclosures? If so, why?

Home Prices Still Falling?

Mari Woods Holt — Thu, 16 Sep 2010 16:39:24 +0000

Many of us wonder at what point will the economy start heading in a positive direction again? One big indicator of this will be with the housing market. Unfortunately, reports are showing that this summer there was actually an increase in the number of homes that went up for sale. This is not a good sign when the potential number of home buyers went down. NPR is reporting there are 4 million homes up for sale right now and an additional 600,000 or so homes that the banks have not put on the market yet to sell. This is astounding, but why are there so many homes just “sitting” there and not being put on the market to sell by the banks?
It seems that banks have a few reasons that they would be holding off on flooding the housing market with additional homes for sale. One reason is that banks are just having a hard time keeping up with all the foreclosures they are having to process AND they don’t want to inundate the housing market with all these homes for sales, which will in turn create lower sale prices. Supply and demand will create even more drops in the sale prices these homes are going for. This is not something the banks want to experience. So I guess the bottom line is, if you have not recently taken advantage the homes that are out there for sale at a reduced price, now might be a good time because there might be even more homes being put on the market to sell. When will this end????

Mortgage Leads And Mortgage Solution

Jashh — Thu, 26 Aug 2010 14:14:45 +0000

Mortgage leads can provide more business opportunities to a financial service provider in no time. However, various factors attribute in ensuring that the lead generated is converted to a long term business on the go. Some of the tip things to look out for while

generating mortgage leads are as follows:

It is also advisable to generate leads from legal methods. Illegal poaching on leads might yield shorter term benefits but in longer term such deals could turn out to be fiascos. Generally, proper customer checks are not done in all such cases.

Mismatch of solution offering can develop negative impact in minds of customers in no time at all. For instance, a customer seeking competitive mortgage solution can be offered high interest rate unsecured solutions while trying to acquire any customer. Therefore, proper customer analysis and matching solutions can provide longer term benefits to one and all.

While pitching apt mortgage solutions to one and all, message and contact information should be clearly mentioned. This can help in establishing better connect factors with the prospects. They would feel more interested and might be able to make faster decisions in no time at all.

Service providers should ensure that their content and mailers are not spammy while they are trying to gain from mortgage leads. A meaningful and apt content can drive instant sales through online networks on the go in a quick span of time.

While designing campaigns for lead generation for mortgage solutions, marketers must ensure that their content pieces are not cluttered. A fairly simple and decent campaign can be easily related to by one and all.

Marketers can get to gain endlessly from the discussed strategies. As far as possible strategies should be customer centric. Solution offerings should be able to generate certain value proposition for customers and at the same time, service providers can get to gain from the investments of customers in a smarter manner. These smarter strategies are in fact been adopted by leading service providers. By leveraging their distribution and reach through multi channel framework they are able to meet the needs of customers by offering them tailor made mortgage solutions.

All About Mortgage Leads

Jashh — Fri, 30 Jul 2010 15:12:33 +0000

Mortgage leads are basically contain mortgage related information that is furnished by the debtor to service providers or to dedicated third party agencies. Some of the actionable information that can be enacted upon by financial service providers includes – name, contact information of prospective debtor, mortgage amount sought out for, his or her current liabilities and other income sources related information. These cues are enough to be acted upon by service providers. They can easily get in touch with the prospective debtor and offer dedicated solutions to meet their financial needs.
How to Generate Mortgage Leads

Mortgage leads can be generated through multi channel framework. Some of the popular means of generating mortgage leads include – online channels, mass media marketing, affiliate marketing and by direct sales or cross sell opportunities. At time, service providers might even consider cold calling options in order to reach out to customers in an effective manner. Dedicated call centers or outsourced contact centers can be utilized to accomplish the task of generating mortgage leads and qualifying them based on the given criteria. Mortgage leads generation is essentially a continuous and evolving activity.

How Many Are Too Many
Financial services providers should ascertain their strengths and weaknesses in order to serve their prospective customer base. Dedicated mortgage lead generation campaign might generate too many leads. However, leads should essentially be qualified based on various parameters such as risk profile, monthly income, asset base, current liabilities and other risk factors. Service providers should only offer services which come under their gamut of offerings. Over committing or under committing might lead to detrimental effects in just about no time at all. Therefore, newer service providers should benchmark their services with the best in business in order to make an impression in mainstream business.
Leaning Possibilities While Generating Mortgage Leads
Financial services providers can get to learn enormously from mortgage lead campaigns on the go. Some of the best learning’s that a service provider can capitalize upon include – most profitable channel for lead generation such as online/Mailer marketing/ Mass media marketing etc. they can also get to understand the pulse of customer in better manner. With the changing trends and lifestyles, mortgage service providers can get to understand what exactly is needed by customers. Tailor made mortgage solutions can power through financial portfolios of one and all in no time. Mortgage lead generation is an art which can be mastered gradually with experience.

How To Generate Mortgage Leads

Jashh — Sat, 10 Jul 2010 12:37:21 +0000

Generating high quality mortgage leads can be one of the greatest challenges faced by a financial services provider. They can place best in class systems or employ best talent, but still be laggards in their niche. In order to ascertain that mortgage leads are generated swiftly with higher conversion ratios, the pulse of a customer should be understood to the core. Some of the best in class ways of generating leads are as follows:

Cold calling prospects has been one of the most sought out for solution, adopted by service providers. Depending upon the feasibility and cost aspects, dedicated call centers be set up for contacting suspects based on the pre generated leads. In certain cases these leads can e bought from third party sources. The pricing is generally based on per lead basis. Some of the typical information that can be inferred from such leads includes – name details, address details, contact information, current liabilities, income sources and the mortgage amount sought for etc

Internet marketing initiatives can also yield best in breed solutions as far as mortgage lead generation is concerned. Mailer campaigns and dedicated ads can be pitched to the customers of a bank or to insurance policy holders. The content and pitch for generating mortgage leads would be based upon the type of audience. Such smarter customer segmentation and demographics based mortgage lead generation efforts can provide scalable solutions to one and all in no time.

Mortgage leads can be generated by distribution of printed content such as brochures and other print material.

Up sell and cross sell mechanisms have been another popular means of generating mortgage leads amongst financial services providers. They can readily contact their current customer base and try to sell them more solutions at competitive financial cost in no time.

Financial service providers can gain endlessly from various lead generation initiatives discussed above. The process of lead qualification may or may not be part of mortgage lead generation. Therefore, an extra step of contacting customer and verifying the details with him or her is needed. Generating mortgage leads is a continuous and scalable effort. At times, prospective debtors might like to hold on their investments in debt instruments due to personal or financial commitments. However, in all such cases their accounts should be pursued for future conversion. Such smarter strategies have been adopted by best in class service providers.

Foreclosure Rate Still Not Heading Down

Mari Woods Holt — Fri, 21 May 2010 14:37:00 +0000

At one point or another we have all come across someone that is either loosing their home, lost their home, or on the verge of falling behind. We are all asking ourselves, at what point is this home crisis going to subside? It’s a scary thought to talk to someone who has been around a long time and to hear them state that this is the worst they have seen the economy in their lifetime. There seems to be no end in sight on when the economy is going to get better. NPR is stating that at least 10 percent of mortgage holders had missed at least one payment between January and March of this year, and 4.6% were in foreclosure. Hopefully, the second quarter of 2010 will prove to be a little more positive than this past quarter.

10 Tips/Thing To Keep In Mind For First-Time Home Buyers

Natasha Aronov — Tue, 04 May 2010 16:00:44 +0000

According to Forbes.com 10 things first time homeowners need to consider are:

Monthly costs: Mortgage, taxes, insurance and regular fix-up costs

Tax Credit: Keep your eye’s open for a possible extension on the first home buyer tax credit if you were not lucky enough to take advantage already

Getting a Government-Backed Loan: Mortgages by the Federal Housing Administration are becoming harder to receive. Buyers with a credit score of 580 or less are now required to put a 10% down payment.

Avoid Family-Assistance Tax Traps : Structuring parental assistance as a bona fide loan with minimum interest rates set by the IRS. (Nolo.com)

Consider buying a foreclosure: Phoenix, Las Vegas & Central Florida have the best foreclosure markets.

Factor in property taxes: research the specific county that you are looking to buy in, some can be very costly in property taxes!

Shop around for Title Insurance

Consider High-Deductible Home Insurance: Consider lowering your homeowners’ insurance premium by raising the deductible.

Cut Insurance Cost By Upgrading: Security systems and smoke alarms are both upgrades that can cut your insurance premiums.

Buy VS. Rent?

Natasha Aronov — Mon, 19 Apr 2010 22:16:36 +0000

If you are currently renting, you may occasionally question if you are able to buy something for similar cost – and right now, this might be possible. According to the associated press, the gap between monthly rent cost and mortgage payments is at its lowest level in almost 20 years!! If you are able to purchase by April 30th, you may also qualify for the tax incentives. Incentives for buying a home include capital gains deductions for property taxes and loan interest as well as diversifying your assets, builds equity and provides a means of forced savings as you slowly pay down the principal.

With the potential to appreciate in value owning a home can seem like a win-win situation, however there is also a flipside that owning a home can bring hefty and unexpected repair bills and there is no guarantee that the value will go up.

Weighing the pros and cons of buying vs. owning is something everyone has to figure out for themselves but if buying is an option for you, it might be a great time to take advantage!

Sad News For Home Buyer Tax Credit

Natasha Aronov — Wed, 03 Mar 2010 05:31:09 +0000

The home buyer credit which was expected to boost sales and encourage buying with an incentive of a $6,500 tax credit, is not performing like had been expected.
The tax credit which offered up to $8,000 for people who had not owned a home for three years, had increased sales in the summer and fall of 2009. This credit was extended past it’s initial limited time with a slightly lower credit of $6,500 in hopes of keeping the buying momentum going. Unfortunately, the new credit is not boosting sales as it was hoped to with the unemployment rate still high and the economy still uncertain. Many potential buyers also face the dilemma of selling the home they are currently in before being able to purchase a new home… and for many selling a home where they owe more on it than it is currently worth, this is not an option.
To qualify for the $6,500 credit:
*Buyers must have owned and lived in the same home for five consecutive years out of the past eight.
*Buyer must sign a contract by April 30, and close before June 30.
*The home’s purchase price can’t exceed $800,000 and it must be used as a main residence. *The income limit for single taxpayers is $125,000 and for a married couple $225,000.

Good News For The Arizona Economy

Natasha Aronov — Wed, 27 Jan 2010 03:42:42 +0000

House prices have not been on the rise for six straight months in a row. Fourteen out of twenty metro areas saw an increase in homes from the month before. As of November, 2009 was up 3.4 percent from its lowest back in May, 2009. Phoenix (Arizona) and San Francisco (California) have had the highest month over month increase in their housing markets. Both New York and Chicago had the largest declines in the nation. One of the largest reasons for the increase was the first time home buyer tax credit. With the original end date for the tax credit being in November of 2009, there was a rush to purchase a new home (the tax credit ended up being extended to the spring of 2010). The tax credit was a huge incentive to purchase a home, and with the home prices in Arizona being so low, it makes sense that Arizona saw one of the highest increases in their housing markets.
One of the big questions is if the trend is going to continue to increase? Some economists believe that there is going to be another dip in the housing market because of the the high rate of unemployment and foreclosures. It is expected that we will see these results in the beginning of this year. It goes without saying that now is the time to buy. Depending on the area, people are seeing move in ready houses for as low as $50,000. That is less than a college education!
If you find that you are one of the many who are having trouble keeping your home you may want to consider a loan modification or debt consolidation. Leadpile is trying to do it’s part by matching up the consumers with lenders on a daily basis! Heck, we want the economy to be better too!