Here are the first pics of little Avery! May she grow up to be a super successful investor:)

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Blessings,

Charrissa Cawley

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Hi there! Happy Easter! I hope you have had a blessed day!

My family and I have really enjoyed our time together in celebration

of Easter this afternoon! Here’s a pic of us enjoying a

beautiful day!

 I just remembered something I wanted to let you know about too:

There is this great new funding source I just stumbled upon and I wanted

to share it with youm as I know many of you are looking for funding

right now!

It is www.pertuitydirect.com

You should check it out-some great lending options!

Also, I just wanted to addreess this real quick.  I have been getting literally hundreds of requests to do another LIVE Coaching Series which I have not done in some time now, but Im opening one class and one class only as of tomorrow and registrations will start being accepted tomorrow morning at 9am CST! This is my 6 week personal group coaching program that has been closed for the past 6 months. I can accept only 6 students total out of my 85,000 client database, so if you want a spot in this exclusive “by application only” program that has not been open in months and won’t be open again anytime in the near future, Call Jaime after the program opens tomorrow at 9am CST at 888-250-6616 ext 705 for details.

I look forward to working together to help you achive your investing and money making goals in 2009!

Charrissa Cawley

www.REIconferences.com

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Fannie Mae will allow investors to hold 5-10 mortgages and still get Fannie Mae backed loans. This apparently will start as of 3/1/2009.

The reserve and qualifying criteria for the 5-10 loan range will be more stringent, as well as the down payment requirements. This change still is a MAJOR improvement over 4 properties. This should make a real dent in the uptake of the excellent deals available in some markets by experienced investors.

Announcement 09-02, Updates to Multiple Mortgages to the Same Borrower Policy,
Reserve Requirements, Reserves Definition, and Form 3170.

1) full Doc

2) Min credit score 720

3) Max LTV 75% for SFR and 70% for MFR for rate and term

4) Max LTV min cash out ($2,000) 70%

5) 6 months PITI plus the current and 6 months reserves piti for all other properties

You can click here for all of the details:  http://www.reiconferences.com/files/fanniemaechanges.pdf

Borrowers are going to need great plus cash reserves to get these programs, but the bottom line is that 2009 is already looking better than 2008 for investors! Every little victory counts!

To Your Success,

Charrissa Cawley

www.REIconferences.com

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The government knows these two lenders service or guarantee half of all home mortgages, and if they go down, the impact on the economy could be huge, disastrous, and long-lasting.  It would make the Savings & Loan scandal of the 1980s look like child’s play.

The government’s master plan has just one major flaw:  According to this renowned legal eagle, it’s illegal for the government to bail out specific private entities while leaving others to sink or swim on their own.  While politicians and lawyers wrestle with vague concepts they can’t even begin to wrap their heads around, millions of homeowners are hurting and begging for solutions today, not months or years from now.

As usual, while the government moves at a snail’s pace to fix a problem they themselves contributed to by looking the other way while sub-prime lenders played “gotcha games” with loan applicants with checkered credit histories, real estate investors like you and me are rolling up our sleeves and quietly going to work.

If a homeowner can’t afford to keep their home, they’re looking for a way out.  They don’t care who helps them or how that help comes.  They’re dying for relief from a housing crunch that is slowly choking the life out of their economic futures.  This is great news for you as an investor!  Do your part to help homeowners by relieving them of properties they can no longer afford to keep.  They’re crying out for help.  While you help them, you’ll be helping communities, and making a real difference for your future.  Now that’s what I call a win-win-win transaction!

So what are you waiting for?  Get to work!  Your country needs you!

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http://www.chicagotribune.com/business/chi-re-fico-alternative-0330mar30,0,6381381.story

Im off to STL for the next buying tour this week on April 11-14! Hopefully it wont be snowing again like it was on the last one in February!  Also, just a quick note to let you guys know that our next group coaching classes will begin in about a month…The last class sold out in less than 24 hours once we announced it. Go here now o get on the waiting list… http://www.reiconferences.com/groupcoaching.htm  

Hope April has been a great month for you so far!

To Your Success,

Charrissa Cawley

www.REIConferences.com

www.REWEXclub.com

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However, I read a couple great articles recently and I thought I would share them with you. They both talk about closing costs and how to negotiate them. I know the mortgage shopping process can be a bear sometimes and believe me…I can relate to all of the issues and how difficult it is to compare loan programs, who has what on what day and if they still have that particular loan program or not, who can do refi-cashout loans, stated, non owner occupied loans, etc… Every lender is so different and there is no black and white or one size fits all cookie cutter approach! Thats where our work is cut out for us as investors! I spend a great deal of my time on this each and every week!

Each lender has so many different loan programs and some are charging one point, two points, no fees or too many junk fees. The more lenders you call, the more confusing it can sometimes be-especially for investor loans!

Before you start shopping for a mortgage for your next property, first do some research on what is going on in the current mortgage market. Be a savvy and astute investor! Make sure you know what the different types of fees are, what sort of taxes are required at closing in the area you are investing in, and the basic mortgage “lingo”. This way when you call a lender or go to your local bank, mortgage broker or a portfolio lender, you will know what you are looking at when they give you all of the details which will hopefully make it all a wee bit less confusing. Your Real Estate Agent or mortgage broker can sometimes be a good soure of information as well.

One other thing to think about before mortgage shopping is to think about your exit strategy for the property. How long do you intend to own it? Are you buying and holding? Buying and Flipping? Hoping to wholesale it? Always start with the end in mind and work backwards. If you are planning on holding the property for a while, then it may be worth it to pay a bit more upfront to lower your interest rate by buying points. If you think you are going to want to refinance or sell the property in the next couple of years, then the lower the out of pocket expenses, the better, obviously.

Here are a couple great articles I recently came across that talk about cutting your loan closing costs on your next purchase. I hope you find them helpful!

To your Success!

Charrissa Cawley

www.REIConferences.com

http://money.cnn.com/2004/03/22/pf/yourhome/closingcosts/index.htm

http://www.smartmoney.com/home/buying/index.cfm?story=closing

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 To Your Success!

Charrissa Cawley

www.REIconferences.com

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