The PIN Magazine April 2019

APRIL 2019 Vol. 06 | Issue 4

Protect your house from foreclosure

Facts you need to know when filling tax returns

CAREB President

Lynell Holden

®

:

FIRST BANK WISDOM

Home is where the heart is.

Let’s put out the welcome mat.

Traditional Loans •

• • •

Conventional • Allow up to 10 financed properties • Loan program for working visa holder FHA VA Rural Development

Professionals Program • • • • •

Available to Physicians, Attorneys, PhDs, and CPAs One point of contact Employment must begin prior to first payment 700 credit score required $750,000 max loan amount

Jumbo Loans • •

Loan amounts up to $2.5 million or higher with executive approval Portfolio products serviced by First Bank

Construction to Perm Loans • •

• •

Loan amounts up to $1 million Builder must be a Homebuilder Association (HBA) member with valid General Contractor’s license Interest only short term fixed construction term loan Owner-Occupied Only

Why Choose First Bank?

Peace-of-Mind! Your First Bank Home Loan Advisor will be with you every step of the way, and local decision-makers provide the quick solutions home buyers need.

Great Rates! It’s not too late to get a great rate on your mortgage. Contact me today at (714) 475-8629 for our current low rates.

Let the highly-trained professionals at First Bank walk you through every step of the process.

Community Mortgage • • • •

Generally no restrictions for primary or second homes Manufactured Home/Rare Construction Non-warrantable condo 660 minimum FICO score

Business Banking Mortgage Wealth Management Mobile Solutions

firstbanks.com/mortgage

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor

(714) 475-8629

104 E Ontario Ave Corona, CA 92879 NMLSID: 461807 eric.frazier@fbol.com

NEW MARKETING SESSIONS

Your voice is your brand!

Increase lead generation, and give you the POWER to close more deals!

Every Thursday 10:00 AM - 11:00 AM

Promote Your Listings Online

• Streamed live on Facebook, and are • These sessions provide real estate agents rebroadcast on BlogTalkRadio which is and brokers a powerful marketing syndicated to iTunes, TuneIn and many opportunity to access The Power Is Now other online radio platforms. During the Network of Agents nationwide and our show each agent and their listings are audience of prospective buyers and sellers featured for approximately five minutes that is 1 million strong and growing. to discuss why buyers should consider buying their listing(s). In addition, each agent will be given a post-show opportunity to launch a customized marketing campaign to get additional exposure.

ERIC LAWRENCE FRAZIER MBA

Office: (800) 261-1634 ext. 703

CalDRE: 01143484 | NMLS 461807

Email: eric.frazier@fbol.com

Mobile: (714) 361-2105

Website: www.thepowerisnow.com

HAVE YOU READ OUR PAST ISSUES YET? the power is now

magazine THE POWER IS NOW INC. Vol. 06 | Issue 03

Eric Lawrence Frazier, MBA President and CEO Office: (800) 401-8994 Ext. 703 Direct: (714) 361-2105 eric.frazier@thepowerisnow.com www.thepowerisnow.com www.blogtalkradio.com/thepowerisnow

EDITORIAL TEAM

Eric Lawrence Frazier MBA Editor in Chief (800) 401-8994 Ext. 703 Kim Collier Managing Editor (800) 401-8994 ext. 712 kim.collier@thepowerisnow.com Goldy Ponce Arratia Graphic Artist and Design Manager (800) 401-8994 ext. 711 goldy.ponce@thepowerisnow.com

CONTRIBUTORS The Power Is Now Research Team

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The Power Is Now Magazine | April 2019

HEADQUARTERS The Power Is Now Inc. 3739 6th Street Riverside, CA 92501 Ph: (800) 401-8994 | Fax: (800) 401-8994 info@thepowerisnow.com www.thepowerisnow.com www.thepinmagazine.com

the power is now

magazine STATEMENT OF COPYRIGHT: The PIN Magazine™ is owned and published electronically by The Power Is Now, Inc. Copyright 2013-2018 The Power Is Now Inc. All rights reserved.

“The PIN Magazine” and distinctive logo are trademarks owned by The Power Is Now, Inc. “ThePINMagazine.com”, is a trademark of The Power Is Now, Inc. “Magazine.thepowerisnow.com”, is a trademark of The Power Is Now, Inc. No part of this electronic magazine or website may be reproduced without the written consent of The Power Is Now, Inc. Requests for permission should be directed to: info@thepowerisnow.com

CONTENTS

the power is now

magazine

12. How to protect your house from foreclosure 16. Green building technology in California 20. Why customer service is important in Real Estate 24. 90 days flip rules investors need to know 28. Facts you need to know when filling tax returns 32. Lynell Holden: CAREB President 36. Home security tips

Make your clients’ next home purchase a “gimme”.

Your clients can get pre-approved prior to contract, and then close in as little as 14 days. At First Bank, you’ll experience exceptional service. In fact, in a recent survey of clients, 96% reported that they would recommend First Bank Mortgage to a friend or family member.

And unlike the pros who will be in town for the championship, your clients won’t be feeling the pressure of making a three-foot putt!

If you know anyone who is looking for personal and professional service, I would be grateful for the referral.

104 E Ontario Ave Corona, CA 92879 FirstBanks.com/Mortgage

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor Office: (714) 475-8629 Fax: (314) 264-0211 NMLS: # 461807 eric.frazier@fbol.com Firstbanks.com

FROM THE

EDITOR D

ear esteemed readers:

April is set aside as National Fair Housing Month and the anniversary of the passing of the Fair Housing Act. This is an important month for African Americans because historically we have experienced the pain and humiliation of job discrimination, housing discrimination, credit discrimination and even freedom for decades.

Every imaginable strategy has been employed by those in power to deny African American’s housing. They have employed black codes to restrict our participation in society, the full right to own property, the right to make contracts, travel or live in white communities, implementation of deed restrictions, redlining and unfair and predatory lending practices, appraising practicing, credit scoring, the outright denial of home loans based on race or the refusal to even sell or rent to African Americans. Our government and many financial institutions and industries in the private sector have done everything they can through collaboration, legal and political action to keep us down but we rise anyway. Like the Sphinx from the ashes we rise.

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The Power Is Now Magazine | April 2019

Housing is in the number one burden on the mind of every grown man and women, mother or father and even child. We all need shelter and protection from the elements and we need to build wealth and leave an inheritance for our children. Owning a home is the beginning to building wealth for most minorities.

Owning land is a divine imperative that is rooted in biblical principles. God has given us land to own and to use to prosper. But are we prospering? Are we home owners? Are we building wealth? The answer is complicated but simply stated it is no on all fronts for many African Americans.

On this months cover we have the accomplished broker, Lynell Holden. As the newest president for CAREB, Lynell brings a host of expertise and knowledge with her to fulfill this position. I am excited to see the changes and leadership she will instill in this position.

Lastly, thank you for your continued support and readership. Our team is dedicated to you. We want the best from you so we are dedicated to bringing the best of us.

Please take a moment and share this magazine. Knowledge is power and The Power Is Now.

Eric Lawrence Frazier, MBA CEO The Power Is Now Inc.

Access The Power Is Now, Inc, Anytime, Any Place

Facebook @thepowerisnow

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9

Finding the perfect home for your clients can be hard.

Finding the perfect loan is easy.

Let’s get moving.

• • •

$2,000,000

Provided to Real Estate Professionals for information only.

Regulatory requirements prohibit public or consumer distribution.

Eric Lawrence Frazier Vice President & Mortgage Advisor 104 E Ontario Ave Corona, CA 92879 (714) 475-8629 eric.frazier@fbol.com NMLS# 461807

For more information, please have your buyers call me today.

firstbanks.com/mortgage Business Banking Mortgage Wealth Management Mobile Solutions

This is not a commitment to lend. Restrictions apply. All rights reserved. Member FDIC

5th ANNUAL GOLF TOURNAMENT SAVE THE DATE

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For more information go to: 100BMIE.org

100 BMIE is an IRS approved 501© (3) non-profit dedicated to implementing its four pillars: Mentoring, Education, Health & Wellness, and Economic Empowerment.

Contact Frank Conley Sr. 951-202-5033 or Dr. David Morrow 909 263-2140 Email: 100bmiegolf@gmail.com / Pay on-line:Eventbrite

[POWER REAL ESTATE]

HOW TO PROTECT YOUR HOUSE FROM FORECLOSURE

H

ome foreclosure is a terrifying scenario for any homeowner, and especially for first-time buyers. During foreclosures, not only are your finances in jeopardy, but your entire livelihood could also be at stake if your household is your sole residence. Luckily, here are some simple tips to help you avoid this unfortunate outcome.

Do Not Become Your Debt: Before we move into the topic of money management advice on how to most effectively handle your mortgage, it is crucial to understand that you are not your debt, and therefore you should not let it consume your mental wellbeing.

While this may seem like an obvious statement, according to a recent study by researchers at the University of Pennsylvania School of Medicine, up to 60 percent of homeowners dealing with foreclosure begin experiencing a negative impact on their psychological wellbeing.

Furthermore, mortgage troubles have often been linked to causing or influencing depression in adults. All of this negative energy has a detrimental effect on one’s ability to best handle their finances, so before we jump into handling your money, it is best to understand that you are a human being undergoing one of the most common issues in modern society – debt – and therefore you are not alone; if you feel like your mortgage is becoming too much to mentally bear, care for yourself first before interacting with your finances and property.

Organize, Organize, Organize: Benjamin Franklin once said, “for every minute spent organizing, an hour is earned.” Take time to carefully determine the numbers associated with your mortgage. What was the original cost of the mortgage (principal)? How much have you currently paid back? What is the remaining balance? What is your interest rate? Over what period are you expected to pay this back? Have you defaulted on a payment plan? If so, why? Have you addressed the issues that resulted in a missed payment? If not, organize appropriate steps to do so. All these questions and more can help you become better prepared to tackle your debt.

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The Power Is Now Magazine | April 2019

Budget: Formulate a budget. This budget should include everything paid by your income and not just the money spent on your home. Keep an eye out for any money being spent on excess. Even if you are meeting your payments for your loan on time and in full, money saved by not indulging in luxuries can be used in an event where liquidity is required and can help better ensure that you are always prepared to meet your payments in a timely and precise manner.

Pay Attention to the Market: If you are still fighting to keep your home but paying back your loan is becoming increasingly difficult, then you may want to consider refinancing your loan.

Refinancing your loan is issuing a new loan on top of your existing mortgage. This newer loan essentially pays the remaining balance of your original loan while extending different loan terms to you as a homeowner. Often the newer loan involves a lower interest rate due to improved credit scores. The new loan could also involve different contingencies, such as a different payment timeframe.

Be sure to pay close attention to all the nuances involved in your refinanced contract before agreeing to it. You can even look over the details with a certified financial consultant to best protect against any lenders attempting to take advantage of you. As always, the more knowledge you have prior to signing an agreement, the better.

Sell as a Last Resort: If you are certain that you will be unable to keep the home and avoid foreclosure, then you may consider selling the home. In this case, it is strongly recommended that you invest in a professional retailer. Additionally, before listing your house for sale, ensure that your house has fully met its retail potential. There are many cheap and effective ways to maximize the value of your property. Some of these projects include repainting the interior and exterior of your home, improving energy efficiency, gardening, repairs and maintenance, and so on. Even tasks as simple as cleaning and sprucing up

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the lawn can increase the value of your home. For best results, consult professionals in your area.

The Power of Emotions: Do not underestimate the influence an emotional connection can have.

Lenders are people just like you. If you are unable to pay your mortgage due to a personal situation, try communicating this with your lender.

In many scenarios, a lender has extended the payment due date to help the homeowner out of nothing more than sheer compassion.

If you can stick to these tips and keep a positive outlook, then you will surely be able to effectively manage your debt, and of course, avoid foreclosure.

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Mortgage Program for Medical, CPA and Legal Professionals

With only eight hours in a day, every second counts.

Let’s save you time.

What makes our mortgage program so unique?

We know you’re a busy professional. Because of your respected occupation, we’re able to offer you this exclusive benefit. With First Bank’s Professionals Mortgage Program, we’re able to offer you this convenient, no-hassle mortgage loan product.

Why did we choose to start this program?

First Bank has recognized the need for a program that allows CPAs, PhDs and professionals in the legal and medical fields the opportunity to close loans based on current and/ or contracted guaranteed employment and income levels. We realize your desire to secure a home for you and your family prior to a career change, move or re-location. What would be better than having your home established prior to starting new employment? Talk about taking the stress out of your move!

Why Choose First Bank?

Peace-of-Mind! With First Bank’s Professionals Program, you’re able to secure a home for you and your family – without the worry of providing past earnings history*.

* Program Guidelines: • Bank Portfolio, ARM and fixed loans • Attached/Detached SFR’s and PUD’s.

• Low down payments available. No Private Mortgage Insurance.

• 700 minimum FICO score. No derogatory credit in the prior 12 months.

• Available in footprint states only.

• Owner-occupied residence only. No second homes are eligible.

• Borrowers must establish First Bank Checking account as well as set up automatic payment withdrawal prior to closing.

• Borrower must start employment within 30 days of closing.

• Employment must be verified with fully executed, accepted, non-revocable contract.

• Two-year history in line of work must be verified and documented. Education in field of employment for prior two years acceptable provided it was in the field of employment.

Personal Touch! One point of contact. You’ll never wonder who you should call with questions.

Great Rates! It’s not too late to get a great rate on your mortgage. Contact a local First Bank Mortgage Loan Consultant today for our current low rates.

Let the highly-trained professionals at First Bank walk you through the process, so you can focus on what you do best.

Business Banking Mortgage Wealth Management Mobile Solutions

Eric Lawrence Frazier Vice President & Mortgage Advisor (714) 475-8629 eric.frazier@fbol.com 104 E Ontario Ave Corona, CA 92879 NMLSID: 461807

First Bank Legacy For over four generations, First Bank has enjoyed a legacy of strength, agility, and long-term perspective.

Since 1910, we have remained dedicated to serving the communities in which we operate with an unwavering commitment.

This commitment began over 100 years ago in a small, rural community in St. Louis to help local clients reach their financial goals. And, although First Bank has grown to be one of the largest family-owned banks in the country, the steadfast commitment to serving our clients—and treating them like family—still remains the same.

From Main Street America to large-scale metropolitan areas, First Bank continues to be a vital part of the communities in which we serve. At First Bank, you’ll find the products and offerings typically only found with larger, publicly held financial institutions. Quite simply, we’re big enough to provide the products and services you need, but small enough to provide caring, personal service. At First Bank, our clients become part of the family.

1910

William Dierberg, Sr.,

President, Creve Coeur Farmer’s Bank

1945

William Dierberg, Jr.,

President, Creve Coeur Farmer’s Bank

1966

James Dierberg,

President, Creve Coeur Farmer’s Bank

2016

Michael Dierberg, Chairman, First Bank

1973 Creve Coeur Bank becomes First Missouri Bank

Missouri Bank 1986 First becomes First Bank

1974

First Acquisition: Hermann, MO

1995 First Bank expands into California

1983

Expansion into Illinois

century of treating 2010 Aclients like family

[POWER GREEN]

Green Building Technology

IN CALIFORNIA T

he real estate market is an industry that continually shows huge potential, progressively accommodating new trends that reshape how this market operates. One of the recent trends that is gaining an overwhelming acceptance is the Green Building Technology, and investors California have shown a great liking to this trend.

What exactly is Green Construction Technology?

To begin with, it is a very broad category covering a very wide array of construction services. It covers anything falling in the bracket of energy-efficient appliances to geothermal heating. Green building is anything that could mean a structure or using the processes that are environmental friendly and resource-efficient. That is simply what green building is all about.

When targeting the use of green building technology, the investor basically has to keep in mind that the materials to use must be both eco-friendly and efficient in terms

of resource utilization. And throughout the building life-cycle, one must also bear in mind that there has to be a balance between homebuilding and a sustainable environment; after all, the primary goal of green building is to sustain this balance.

The state of green building in California Going green is a trend that has been on the rise in many parts of the world; for instance, Costa Rica has been running on 100 percent clean energy in proportions for quite some times.

Beginning in 2017, the state of California mandated that all new homes have a Net Zero Complaint, which is a trend anticipated to spread all through the state by 2020. There are so many advantages that one could get as a result of going green and as an investor in the California state, it is a trend that you need to be concerned with.

Sustainability in properties offer the best value on a long-term basis, better health, and the conservation of energy for the next generation. To answer for all of these, going green is the only option for anyone who wants to make a big catch in the beautiful state of California.

The world’s first zero net energy building requirements in California Late last year, voters in Santa Monica voted in favor of approving an ordinance requiring that all new www.thepinmagazine.com

single family construction be Zero Net Energy. A positive move. This is a system that makes sure that projects generate enough of their own energy from renewable sources. This is a move that was boldly taken to support what was there in the state’s environmental policy, which further proves that the state is to some degree very committed to the environment.

It is a move that will bring a sense to the conservation of the environment and somehow make economic sense, since if you look at the price of utility power, it is on the rise. However, ZNE homeowners can avoid the burden of these escalating prices while at the same time enjoying the local renewable power which will adequately cater to all their energy needs.

Therefore, it is a trend that will bring many benefits, among them cutting the prices of utility power. Here is what California Green Building Standards Code says about green building technology: ZNE building is where the value of the energy produced on-site by renewable energy resources is equal to the value of the energy consumed annually by the building. Expect to see more as the year progresses.

Some of the green building technologies investors opt for:

Movable walls This is a trend that was hitting last year; it is one of the elements that has become an essential part of green building. The good thing with the flexible walls is that they easily reduce and maximize space and view. If you are adopting this technology, you will

17

find that the wall will help you optimize your floor plans and energy usage. Therefore, it is an element that is important inasmuch as green technology is concerned.

Cool roofs This is also an essential element of Green Building Technology that investors have to be on the lookout for. The cool roofs are specially designed to create an increased solar reflectance and also a decreased thermal emittance. If you were to compare these roofs with the common ones, one thing you will note is that these roofs will reflect more of the sun’s ray than the common ones. The advantage with this technology is that when properly used, it could prevent the warm or cool air inside your house from escaping through the top of the building.

Solar power This is perhaps the essence of going green in the state of California. It may not be a new thing, and it may not be a hot trend, but it has become one of the cheapest energy sources, reducing by in cost by 90 percent compared to the previous year. It produces clean and efficient energy which is also renewable

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and saves homeowners a lot of money. In approximate values, ten-year savings could amount to around $22,500. Therefore, it is a system that assures you a good return and clean energy benefits.

Biodegradable materials This is also a rising trend in Green Building Technology. Biodegradable materials can change the disposal process and bring into the equation something which is eco-friendly, which is the positive part of using these materials.

This goes a long way towards making sure that the environment as well as the occupants of the home stay healthy. Instead of the waste products that add more toxic chemicals, Green Building Technology uses biodegradable materials to ensure that the products will degrade naturally without contaminating the soil.

There are a lot of trends that investors should be on the lookout for in the state of California.

The State will ensure that new construction is able to meet the energy efficient and cost effective standards in the industry. This move by the California government will see to it that the state will meet its statewide energy efficient goals, and therefore it is most positive that investors in this state ought to embrace and work towards making sure that the goal of Green Building Technology is fully met.

The Power Is Now Magazine | April 2019

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[POWER YOU]

Why Customer Service

Is Important

in Real Estate

N

aturally, real estate is known as a sales industry. But recently, this view has begun to change. Real estate agents around the world have begun to believe that the most important ingredient to success in real estate is customer service, not sales.

Goodwill and loyalty cannot be bought.

Customers desire to be treated with respect, integrity, and honesty. They want the agent to provide them with an accurate and honest property appraisal. Customers want an estate agent who is committed to helping them make the right decision. They want an agent who is available at all times. Customers want to work with someone they feel free with and feel 20

welcome whether it’s in the office or on the telephone. Many customers do not want to be insulted by advertising. They want actions, not words.

Estate agents with business acumen know that once they can provide and pioneer excellent customer service for their clients, they will enjoy a significant edge over their competitors. The agents who provide the best customer service enjoy the greatest opportunity to flourish in today’s marketplace.

Obviously, sales are crucial, but it is just part of a greater holistic process. Customer service is based on a simple premise: serve well, and you will sell. This proposition is true because everything that is needed for a sale is excellent customer service. The right price, creative marketing, relevant advertising, and kept promises are intrinsic to good customer service.

Buyers, vendors, tenants, and landlords should all receive the same excellent customer service.

Below are useful tips to help real estate agents retain customers, thereby establishing a longterm business relationship.

The Power Is Now Magazine | April 2019

1. Impress Your Customers

5. Be Courteous and Polite

Make sure you do not allow the opportunity to impress your clients on the first contact or call to pass you by. How you handle your customers on the first contact can leave a positive or negative impression in their mind. Show off an impressive communication skill, whether it is by phone call, email or direct contact. Be sure that they are convinced of your good customer care practices. Make a real effort to win them over.

An exciting conversation with your customers can leave a positive impression on their mind. Try to avoid being noncooperative, inattentive, or harsh when interacting with them. Be gentle and considerate when responding to customer questions or grievances. The way you respond to the customers will determine whether or not they come back.

2. Be Open to Customers on the Phone Emails are a lot easier way to deal with clients because you will have time to think of how to impress them, but most customer service is conducted over the phone. Make sure that you are very open and helpful when interacting with them on the phone. Never leave them unsatisfied.

Keep returning calls until their inquiries or questions are answered and they are happy.

3. Pamper Your Customers You know exactly the way you wish to be treated; treat your customers like that. In some cases, make sure that they get a more personalized treatment. Your business will be more successful if the fundamental element of your customer care services is customer satisfaction.

4. Help Your Customers Be fast in offering support and assistance to your customers even before they ask for it. This will make them feel cared for and show them how swiftly you handle your business. www.thepinmagazine.com

6. Satisfy Customers’ Queries Your clients will only hold your customer care services in high esteem if their questions are satisfactorily answered. Do not miss this opportunity to bring them close to your company. Give them a reason to stay with your business.

8. Apologize for Mistakes There may be times when you make mistakes with your service. It is normal for your clients to be disappointed with your service or company. It is better to accept these errors and apologize to the customers while assuring them of better service in the future.

Today, with advances in technology, competition has gone up. Customers now have almost unlimited choices to pick from.

These changes require agents to work harder and harder – especially in the area of making and keeping customers happy – as they have discovered that word-ofmouth and repeat business are crucial to success in the industry.

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Back to school doesn’t have to mean your clients have to wait until next year to move!

Your clients can get pre-approved prior to contract, and then close in as little as 14 days. At First Bank, you’ll experience exceptional service. We track the details of each loan and the market to ensure clients have the best mortgage product for their financial situation.

If you know anyone who is looking for personal and professional service, I would be grateful for the referral.

104 E Ontario Ave Corona, CA 92879 FirstBanks.com/Mortgage

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor Office: (714) 475-8629 Fax: (314) 264-0211 NMLS: # 461807 eric.frazier@fbol.com Firstbanks.com

Bankrate.com

money.cnn.com

creditkarma.com

advantageccs.org

Eric Lawrence Frazier Vice President & Mortgage Advisor 104 E Ontario Ave Corona, CA 92879 (714) 475-8629 eric.frazier@fbol.com NMLS: 461807

credit.com

[POWER LEGAL]

90-DAY FLIP RULES INVESTORS NEED TO KNOW

T

he 90-day flip rule is simply a property regulation that was developed in June 2015, and many believe it made selling properties a much more difficult procedure. Simply put, this rule states that property owners who want to procure a flipped property can only proceed after 90 days have

24

passed. This 90-day gap should be in between the date that the property was bought and when it was resold.

There are various guidelines that outline the key process involved in any transaction of property procurement within a given amount of time.

Since less than 15% of loans

are classified under FHA, the complication arises with the longstanding regulation relating to the insurance limitations that accompany the Fannie Mae laws of conventional loans. This law focuses primarily on the seller, and it stipulates that if there is a greater than 20% difference between the purchase price

The Power Is Now Magazine | April 2019

and the resale price, then the 90-day rule should be implemented.

For those who are not aware, Fannie Mae is an organization that is in the business of borrowing funds at low rates and then investing the funds into various types of mortgage securities. Fannie Mae borrows in the debt markets through the sale of bonds, and it promotes liquidity for mortgage producers by buying whole loans. It is a governmentsponsored organization, and is therefore inclined to provide mortgage producers with the required liquidity in any economic conditions. In some senses, this organization must be able to ignore any negative characteristics that make a particular market an unreasonable investment.

The Standard 90-Day Deed Limitations: The important factor here is the recording date of the deed, which refers to when the buyer`s deed was recorded.

Furthermore, this particular date signifies the initialization of the 90-day timeline. During this time, the buyer can sell the property for less than 100% of what the buyers had purchased it for, which means it is often not affected by renovations or repairs. After passing the 90-day mark, the

www.thepinmagazine.com

property can be sold at any price.

inclined to pay for monthly mortgage insurance plans together with monthly loan

FHA’s 90-Day Flip Limitation: This limitation also has the same timeline as the standard 90-day deed. Having said that, the 90-day clock will be initiated with the transfer of relevant documents such as the title deed record date of when the property was initially purchased. Following the transfer of the title deed, it is imperative that 90 days must pass before the buyer can gain access to FHA loans.

If you plan to resell the property within 180 days, you might need to expedite sufficient upgrades to the property to justify the increased resale amount. Also, if the property has an unusual trend in flipping, such as if the property has changed owners more than twice in a year, then the lender is likely to reject the loan application.

payments. The FHA loans are often accompanied with adjustable mortgage rates and fixed rates as well.

The FHA loan is a specific type of mortgage that lets borrowers pay for premium insurance plans which protect the lender from any loss should the borrower fail to make up their payments. This type of loan is insured and may often have a simpler qualification procedure due to the less stringent payment regulations.

Conclusions: While the interest rates on FHA loans might be higher than those of standard mortgages, the FHA mortgages may only necessitate a down payment level as low as 4 percent, which is manageable for most investors. One key advantage

What is an FHA loan?

of FHA loans is that they

The FHA mortgage is a specific type of home loan by the government, and it provides more dynamic lending structures than conventional loans. As a result, FHA mortgages often have relatively higher interest rates, and property buyers may be

homebuyers with outstanding

make it easier for prospective credit or those without good credit to qualify for a loan.

Many borrowers with ARMs seek to refinance solutions in FHA loans that come with fixed rates, which make it a perfect option for investors.

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Picking the right horse is hard.

Picking the right mortgage is easy!

Your clients can get pre-approved prior to contract, and then close in as little as 14 days‌ AND they get a $250 First Bank gift card after closing! At First Bank, you’ll experience exceptional service. We track the details of each loan and the market to ensure clients have the best mortgage product for their financial situation.

If you know anyone who is looking for personal and professional service, I would be grateful for the referral.

104 E Ontario Ave Corona, CA 92879 FirstBanks.com/Mortgage

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor Office: (714) 475-8629 eFax: (314) 264-0211 Cell: (714) 475-8629 NMLS: # 461807 eric.frazier@fbol.com https://www.firstbanks.com/hlc/EricFrazier/Eric-Frazier

*To participate in this expedited process, all applicable credit documentation must be provided at the time of loan application. Under the Purchase First Program, First Bank will be ready to close your loan within 14 days if we pre-approve you. If your loan takes longer to close than we guarantee due to a delay by First Bank, we will credit you at closing with $250.00 to be credited towards your closing costs. Program available on all applications received between March 1, 2017 and July 31, 2017 that close and fund

by December 31, 2017. See a Home Loan Consultant for details.

Dear Real Estate Professional, For over four generations, First Bank has enjoyed a legacy of strength, agility, and long-term perspective. Since 1910, we’ve remained dedicated to serving the communities in which we operate with an unwavering commitment.

We’re always looking for ways to better serve our clients. That’s why First Bank Mortgage is proud to share our Medical Practice, Legal, and Health Care Professionals Program with you.

Features include: • Available for a single family home or a planned unit development • Adjustable rate terms to fit your budget • Higher Loan to Values • No private mortgage insurance required

Purchase First is First Bank’s unique program designed to help you take possession of your dream home in as little as 14 days with prior credit approval!*

In addition, we would like to introduce you to First Bank’s Purchase First program.

What’s Purchase First?

Purchase First offers home buyers the fastest path to owning the home of your dreams. Whether you’re a first-time home buyer or someone wishing to move up to a larger space, Purchase First is designed to help potential buyers take possession of their home sooner! This offers an advantage, allowing you to be FIRST in line; ready to make one of the FIRST offers on a home; and the FIRST to own the home of your dreams!

How Does Purchase First Work?

It’s simple! With Purchase First, when a client is pre-approved with us, we can close their loan in as little as 14 days once they sign the purchase contract. Having pre-approval gives you the edge before beginning to search for the perfect home.

Need more Reasons to Choose First Bank?

• Convenience of direct contact with a single point-of-contact through the entire loan process!

• Get a great rate on your mortgage loan!

• 95% of our mortgages are closed and serviced by First Bank!

For additional information regarding our Professionals Program, Purchase First, or to answer any questions, please contact me at (714) 475-8629 Sincerely,

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor

For more information, please contact:

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor NMLSID#: 461807 104 E Ontario Ave Corona, CA 92879 (714) 475-8629 eric.frazier@fbol.com

*To participate in this expedited process, all applicable credit documentation must be provided at the time of loan application. Under the Purchase First Program, First Bank will be ready to close your loan within 14 days if we pre-approve you. If your loan takes longer to close than we guarantee due to a delay by First Bank, we will credit you at closing with $250.00 to be credited towards your clos ing costs. See a Home Loan Consultant for details.

firstbanks.com

[POWER FINANCIAL]

Facts You Need to Know

When Filing Tax Returns A

tax return is a form that is used to give a report on your income as well as to file income taxes with your country’s tax authorities. In most countries, people are required to file their tax returns every year. Many taxpayers as well as accounting professionals are usually busy during the

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tax season. In this period, they are required to assemble the necessary paperwork, which includes wages as well as the earning statements, and afterward calculate the tax returns.

Some people calculate their taxes on their own, while others rely on experts to do it for them. It does not matter how you decide to go about it.

The important thing is to ensure that your tax returns are filed. Tax returns make it possible for a taxpayer to calculate his or her tax liability and request for refunds or remit payments if need be.

As the tax season approaches, people have many questions. There are those that do not know what to do with the tax refunds, while others are wondering what steps to take if their tax return does not show up as they were expecting. Fortunately, the tax season comes only once a year. Below is some useful

The Power Is Now Magazine | April 2019

information on what to keep in mind during the tax season.

What can make you not get your tax refund?

How to do your taxes

If you do not file your taxes, you will not get

If you do not know how to do your taxes, or you do not have time, you can go ahead and find a professional to do it for you. Before you hire someone, first ask around and find out if the person is credible or not. You do not want a person who is not good at the job doing your taxes. Always keep in mind that the more complex the return, the more you are going to pay. Therefore, the fee might end up eating the refund that you are going to get.

If your taxes are not complicated, the Volunteer Income Tax Assistance can help in guiding you on how to file for returns. The best thing is that they do it for free, which makes things easier for low-income moderate income taxpayers.

With proper preparations, filing for tax returns can be quite simple.

a return. Always be sure that your taxes are properly filed. In case you filed for your taxes correctly, and you did not get the refund, it can be because your taxes are not up to date. You could have a student loan that you defaulted on or other government debts. If this is the case, the tax authorities could have captured the refund and used it to offset the debts. In order to avoid such instances, it is best to ensure that you are current on student loans, taxes, and other government debts.

A tax return begins with an identification section. Then it is divided into three parts: income, deductions, and credits. During the tax season, you should make certain claims and ensure that you have correct documents as well as proof of all the claims. Be honest; if you overstate the expense for your medical

What to do with the tax returns

claims or the number of your dependents it is a

Some people see tax returns as free money.

With this in mind, they do not plan on how to use it, and they end up wasting it. They end up spending it on something fun or another unimportant thing. In a real sense, the tax refund is your hard-earned money. When you receive the returns, it means that you have overpaid your taxes and the government has been keeping it the whole year. However, it is fine to receive it as a lump sum, but if the money was available earlier, you could have put it to good use.

of this season and rob people; do not fall for

criminal offense. Some people take advantage scams. These people send you emails asking for personal information such as banking details.

Once you send it to them, they use it to steal from you. Be on the lookout

for

such people to avoid being a victim.

It is good to plan for what to do with tax returns; you can opt to use the money to reduce your debts if you have any. You can also decide to add it to your savings and use it on a rainy day. If you do not make plans for the money, it might disappear and not help you in attaining your financial goals.

www.thepinmagazine.com

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The best home improvement is the kind your house pays for. Let’s get to work.

Upgrade your Home with Cash-Out Refinance Solutions!

First Bank Mortgage, not only o ers home loans for both new and older homes, but they’re also available to assit with refinancing, including cash-out refinance options.

With competitive rates low, a cash-out refinance with a reputable lender may be just right for you.

This is especially true if you’re able to refinance your new mortgage at a lower rate, while also providing funding for your home improvement projects. It’s a true win-win!

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor 104 E Ontario Ave Corona, CA 92879 FirstBanks.com/Mortgage

Fax: (314) 264-0211 NMLS: # 461807 eric.frazier@fbol.com Firstbanks.com

Finding the perfect home for your clients can be hard.

Finding the perfect loan is easy.

Let’s get moving.

• • •

$2,000,000

Provided to Real Estate Professionals for information only.

Regulatory requirements prohibit public or consumer distribution.

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor 104 E Ontario Ave Corona, CA 92879 (714) 475-8629 eric.frazier@fbol.com NMLS# 461807

For more information, please have your buyers call me today.

Firstbanks.com firstbanks.com/mortgage

Business Banking Mortgage Wealth Management Mobile Solutions

This is not a commitment to lend. Restrictions apply. All rights reserved. Member FDIC

Lynell holden

L

ynell Holden, the newest President of the California Association of Real Estate Brokers, Inc. (CAREB) is the embodiment of a successful Californian realtor.

Proficient, respected and trustworthy, Lynell Holden has been a member of the National Association of Realtors (N.A.R.) and the California Association of Realtors (C.A.R) since 2006. Lynell has had the privilege of representing Solano County, Contra Costa County, Alameda County, San Joaquin County, Yolo County and Sacramento County for more than 20 years.

The California Association of Real Estate Brokers, Inc. (CAREB) is the largest and oldest state chapter of the National Association of Real Estate Brokers, Inc. (NAREB).

NAREB is one of the largest and oldest minority trade associations in America, and is dedicated to bringing together the nation’s minority professionals in the real estate industry and promoting the meaningful exchanges of ideas amongst realtors and clients alike. Since 2006, Lynell Holden has served the communities of California with the integrity and dedication befitting of a successful leader.

“

I have been able to make a difference and affect lives in a positive way.

What people don’t know is I don’t just write contracts or show houses. I make friends and clients for life!

www.thepinmagazine.com

Lynell’s experience as a leader comes through in her ability to establish relationships with her clients and the communities she represents. “I have been able to make a difference and affect lives in a positive way. What people don’t know is I don’t just write contracts or show houses.

I make friends and clients for life!” A proud citizen of Fairfield, CA., Lynell believes that to be the best realtor “means keeping myself receptive, being an exceptional audience and additionally a great communicator”.

As a professional realtor, Lynell is a firm believer in NAREB’s “Democracy in Housing” – the principle that all citizens have the right to equal housing opportunities, regardless of race, creed, or color. This is the mantra of the “Realtist”, a member of NAREB that believes in preserving the rights of all Americans to homeownership. Lynell is dedicated to serving the unserved and underserved, and works tirelessly to develop creative and effective methods of helping those achieve their dream of homeownership.

Beginning in 2008, her role as an Office and Property Manager for Holden & Associates taught her the

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value of effective communication between team members. Lynell was responsible for interviewing, hiring and supervising office personnel, independent contractors and vendors on the job site, as well as maintaining A/R and A/P files and payments for vendors and managing properties for both clients and tenants. This experience paved the way for Lynell becoming the Vice President of the Solano Realtist Association in 2014, 2015 and 2016.

Lynell’s wealth of experience extends beyond the duties of being a realtor. Along with her Real Estate Salesperson License, she also caries a Notary Public License (2006), a Real Estate Broker License (2012), a Business License (2012), as well as being a Notary Signing Agent since 2006. She has performed E-DOCS and regular notarial acts for companies such as Toyota Walnut Creek, Titanium Solutions, Accurate National Signings, SoCal Signings and the California Business Center. For over 20 years, Lynell has been a member of the National Association of Realtors (N.A.R), the California Association of Realtors (C.A.R), the Northern Solano County Association of Realtors (N.S.C.A.R.), and the National Notary Association (N.N.A).

The Power Is Now Online Events Every Tuesday at 12:30 PM and 7:00 PM, along with every Thursday at 12:30 PM, we are live on Youtube!

We educate our friends and followers about all of the latest mortgage programs, interview industry leaders and professionals, and give agents an opportunity to showcase their listings on our platform.

As the President of CAREB, Lynell Holden will continue to put the needs of the client first, as she has done for her entire career. In Lynell’s own words, “One of my motto’s is “Make It Happen”. I’ve discovered that the most recent advances are empowering me to do everything I’ve generally completed. My goal is to meet or exceed your expectations, and I will be with you every step of the way!”

See the weekly topics at: Resources:

thepowerisnow.com/events/

https://careb.org/ https://www.realtor.com/realestateagents/lynell-holden_ fairfield_ca_1659984_924889618

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The Power Is Now Magazine | April 2019

[POWER TECHNOLOGY]

Home Security Tips F

or most homeowners, maintaining the ideal level of home security standards is an important factor to consider. It comes as no surprise that while home security might be crucial for most people, not many property owners have the necessary insight into what it takes to achieve ideal home security standards. Although you may not be able to entirely eliminate threats such as illegal intrusion, incorporating the right security practices has its inherent benefits. Simply put, you can increase and effectively enhance the safety levels in your property by embracing top-quality safety measures. Without any more to mention, here are some of the excellent tips for any homeowner to consider for their unique home security needs:

Install new locks The first important home security tip is that you should consider investing in new locks for your property. This is because the old locks might have been tampered with, which increases the likelihood of an intruder gaining illegal access to your property. Therefore, ensure that you evaluate the locks for functionality and install new ones to reduce any chances of an unlawful intrusion on your property. Using the information from your evaluation, you can then determine the best possible upgrades that you can make for your property safety needs.

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Reinforce the windows and doors with steel additions You may also consider strengthening your property with burglar proofadditions such as reinforced door and window structures. The key point to consider here is that you want to make it as difficult as possible for an intruder to gain access to your home. The choice of reinforcement is dependent on various factors such as the structure of the window or door. By working with a local home renovations company, you can make notable adjustments to the physical structure of a property for enhanced safety levels. If you have a sliding glass door or even large patio doors, then a good suggestion would be to install a metal attachment in the bottom section of the door. This will play become a key burglarproof feature for your property. Also, ensure that the hinges of your door are placed inside rather than outside since this makes it more difficult for intruders to tamper with the hinge system.

Invest in a good alarm system Alarm systems have evolved over the years to become crucial aspects of various types of security systems.

From banks and department stores to educational institutions, a good alarm system will warn you of any intrusion on your property. Choosing a good The Power Is Now Magazine | April 2019

alarm system is as important as the installation method used on your property. For instance, all wires and any other alarm elements should be well concealed to reduce the likelihood of tampering. In most cases, the alarm systems are integrated with unique design features such as motion sensing capabilities and loud alert. You may also consider integrating the alarms with the services of a local security company, who will respond whenever the alarm goes off.

obvious lock combinations for your garage door, the main door, or even the main gate. You may also consider making your property seem occupied even when you are outdoors.

Light up all the relevant sections of your home

Avoid predictability with your security protocols

There is a strong correlation between welllit properties and their levels of security. This is because lighting makes it easy to view any intruders and also acts as an excellent mechanism for warning off any intruders.

This means that you need to avoid using obvious security protocols such as leaving your key in the mailbox. It is important for you to note that while you may not be able to secure your home completely, you can implement various strategies that go a long way toward increasing the overall safety levels of your home. More so, you might also avoid using

The consumer market is packed with various innovative lighting solutions that you can consider for your home security needs. For instance, some of the high-end home security lighting options can be powered by both solar power and electric energy, and they might even come with motion detection functionality.

www.thepinmagazine.com

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Your loan officer should be as invested in your home as you are.

Let’s feather your nest.

First Bank Mortgage offers three tips to help you on the path to homeownership!

1. Start by checking your credit score.

Your credit history is an important factor when you decide to apply for a loan. The score reflects how well you manage your debt. It’s important to discuss this, and other factors, with your First Bank home loan consultant.

If you find that your credit score is too low, there are a number of steps you can take to improve your credit score.

2. Get organized.

Getting a loan requires a few different documentations including, but not limited to, pay stubs, tax returns, and financial statements. You’ll also need to provide copies of additional monthly payments such as car loans, credit cards, and student loans. Keep all of this in mind, when you begin organizing. If you have this information readily available when you decide to apply for a home loan, it will make the process much more efficient.

3. Start Saving!

Set up a designated savings account and start saving as much as you can each pay period to use as a down payment on the purchase of your new home. Although we offer first-time homebuyer programs with little to no down payment, it is still a good idea to have some available funds in reserve to use for a potential down payment, utilities, moving expenses, new home furnishings, or unforeseen emergencies.

With some preparation now, you’ll be even closer to rolling out the welcome mat on your own, new home later.

We’re here to help answer any questions to help make that dream a reality.

104 E Ontario Ave Corona, CA 92879 FirstBanks.com/Mortgage

Eric Lawrence Frazier MBA Vice President & Mortgage Advisor Office: (714) 475-8629 Fax: (314) 264-0211 NMLS: # 461807 eric.frazier@fbol.com Firstbanks.com

HOME OWNERSHIP

By Eric Lawrence Frazier MBA

Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own.

Real Estate you own is not like cars that decay over time and you have to replace them.

Real Estate you own is not like clothes that go out of style and you have to buy new ones.

Real Estate you own is not like expensive vacations or experiences that only last a moment in time.

Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable.

Real Estate you own is not like staying at your parents house where you know can’t stay forever.

Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family.

Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned.

Home ownership is the place you build memories that can never be taken from you.

Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand.

Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life.

It’s the height markers on your first child’s bedroom wall.

It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen.

It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections Home ownership It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire.

It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it.

It’s more than the payments you make to own it.

It’s more than the appreciation that comes with keeping it over time.

It’s memories, it’s family, and it’s life that can happen in one place Until you say it’s time to move.