Foreclosure Sheriff Auctions – Beware the Buttheads

Madison, Wisconsin to Sebastian, Florida

One Saturday morning Bill Quigley and I were talking about Home Inspections on our weekly radio show – this time in conjunction with foreclosures and sheriff’s auctions. We were interviewing our guest and exchanging stories on air about the importance of home inspections prior to sale, when Bill relates the unusual story of a client of his having bought a home at an auction.

Apparently the buyer didn’t have the time to pre-inspect the property and apparent was hoping for the best. He won the bid, but when the lender sent the appraiser to the home, he found a toilet sitting in the middle of the living room floor. And it was plumbed and fully functional!

On the show we speculated that the previous homeowner had installed it to facilitate his Saturday football TV-watching. We mused about the neighbors hearing him shout, “Hey Honey, bring me a beer and a baloney sandwich, will ya? Oh yeah, and can you grab me some Charmin…” or similar. PBS fan? Health needs? NASCAR enthusiast? No library in town? We had fun guessing, as you can well imagine.

Truth is, this guy had apparently just been upset about the foreclosure, and had put the toilet there for spite. (Took some work to install – would take more to uninstall it.) Guess it beats the fish-behind-the-drywall and the Sakrete-in-the-toilet tricks, but it was nasty.

The buyer was lucky, very lucky. Apparently, that’s all that was wrong with the house. I DID find out the new owner removed the commode (WHY!?!?) at considerable expense. A happy “ending” – so to speak.

Moral of the story – Get access before you bid on a foreclosure at auction. The consequences can be a pain in the butt.

Art Blanchet

Bill Quigley

Your Home-Your Money

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For Your Vexation Get a Home Inspection

22 July 2007 – Madison, Wisconsin

Can a person paid by one party perform a service involving a third non-paying party be totally objective?

I just don’t know about Home Inspectors. I like them and believe they perform a valuable service, but what if the subject property were MINE and the inspector is hired by my Buyer?

The following is for example purposes only – I’m not saying it happened, Maybe it did, maybe it didn’t. But it’s food for thought:

My house is a ranch-style with a walkout basement. It’s 15 years old, but well maintained – or so it seemed. Here we are sitting pretty with a solid contract, thinking all is ripping toward closing, when I get a call that the Home Inspector wants to come over. OK. I know what they are looking for – more or less – and figure it’ll be a snap. C’mon over.

The Buyer’s agent arrives first, followed by the Buyer in his grubbies – he’s carrying a flashlight and work gloves. So. It is THE hottest day of the summer and these poor guys are going to crawl around in my attic. I put bottled water, Gatorade, and pop (Midwest for soda, I know now) in the fridge for the intrepid explorers – no harm (and maybe a few brownie points) in being nice. I dutifully disappear before the Inspector arrives.

Later that day I get a call and “The Third Degree” from the Buyer’s Agent – in a nice way, of course. I set the record straight. A couple days later The Amendment arrives with a shortlist of demands (which will kill the deal if not met). I then get the Inspection Report. I read it and the list of hafta gottas. The descriptive language assures me I’m living in Poe’s House of Usher about five minutes before the collapse. Even the things that were perfect were only average or worse by description. All that CYA language. I was ready to bulldoze the place and take the loss on the spot.

Of course, I get a tiny bit warm under the collar when a report describes my castle as though it’s serf’s hovel. So I call MY Inspector buddy, who tells me the other guy is nit-picky and not busy enough. Throws in a few words only sailors could appreciate.

So what! It’s on paper now and is now truth. Now fact. Now real. It’s part of my condition report, whether or not it’s 100% accurate. I am stuck with it.

So I think. If I were the inspector and the guy next to me with the gloves and flashlight were paying me to look at a house, wouldn’t I have just the slightest tendency to opine in his direction, just a little. I mean it’s 95 degrees and 85% humidity and I’ve got an attic-crawling buddy. Gray has so many, many shades. Kinda like in an NBA game where the home team gets all the questionable calls – the ones that could go either way.

I don’t believe there were improprieties, but we are all only human. So my real question – with so much riding on an inspection and the only alternative is ANOTHER pro or inspector to counter the first: Are Home Inspections really all that objective? And really, how could they be? A seasoned vet might see a condition one way – the rookie, another. Experience plays its role in every service. Underwriters will let something pass on one loan file and kill it in a later one.

I don’t mind (much) that the Inspections are imperfect, but I mind for the weight they carry. Maybe if they were mandatory and provided by the lender it’d make more sense to me, but to have it optional and paid for by the Buyer – that troubles me some.

Regardless, after a much wailing and gnashing of teeth (plus a few hundred dollars in contractors and a price reduction) nearly everyone is happy.

CAN’T WAIT to inspect the home I”M buying! (Now where’d I put that hardhat?!?!)

Art Blanchet

Your Home-Your Money

Middleton, Wisconsin – The Best Place to Live in America – The Best People Make It That Way

17 July 2007 – Middleton, Wisconsin

It’s people like Bill and Cathy that make Middleton, Wisconsin the Best Place to Live in America.

CNNMoney.com came out with their annual list of the best places this week and this modest suburb of Madison took first prize. Middleton is attracting the kind of people that want to live in a place with access. reasonable real estate prices, low crime, and a positive outlook. In the published interview, residents cited the tightknit community as to why this community rose to the top of an impressive heap.

A tightknit community? How do you get one of those? Well, let’s get back to Bill and Cathy. These are the kind of people you want in your neighborhood. Bill coaches or assists in three community youth league sports. He’s on committees and supports their games. He does business – their business, not his – locally with as many people as he can. He knows his neighbors, their kids, and can talk to them about jobs, family, and nothing at all very comfortably.

Bill and Cathy both volunteer at their son’s school, providing support ranging from lunchroom work to field trip chaperones. Cathy is active in local committee and church groups. They vote, ride bikes, and help their neighbors shovel snow during the long Wisconsin winter. They are the good citizens of Middleton – They didn’t move to the #1 community in America – they helped create it.

So why is this relevant to my blog and Your Home-Your Money? Bill is Bill Quigley, my business partner and friend. We maintain a small office in Middleton and Bill is the brains behind the problem-solving we do for our Robbins and Lloyd Mortgage clients. He’s one of the nicest guys you’ll ever meet and is the neighbor you’ve always wanted. And behind every great man…well that means Cathy is his equal in every way.

Congratulations to Bill and Cathy Quigley for living in America’s best place – and congratulations to Middleton for finding them. They are a small part of a big deal, like the tiny jewels in a Rolex watch that make it so precise – and so very precious.

Art Blanchet

Your Home-Your Money

YHYM Talks to Canadian Mortgage Professional

29 June 2007 – Madison, Wisconsin

Well, they like us in Canada anyway – but we weren’t their first choice. We forgive them.

A few weeks back Bill Quigley and I were interviewed by Vanessa Chris from Canadian Mortgage Professional Magazine about YHYM for an article they were writing on the use of technology in the mortgage industry. As Vanessa researched the Canadian cyber waves for her article, she soon realized there weren’t any Canadian Podcasters up there, so reluctantly searched neighboring states and found us – and Your Home-Your Money – in Wisconsin. Close enough. (Good thing she chose us over anyone else – I was ready to trump the competition by playing the “race” card – my MOM was born in Canada!)

The print article, entitled, “Digital marketing: The wave of the future,” came out in May. The online version is available here at http://tinyurl.com/37t8k7 as of this week.

Our section of the article deals with the use of podcasting, blogging, and broadcast radio as marketing tools. Podcasts can be listened to as live streaming audio via computer or telephone. Radio can be streamed, heard via airwaves, or now as podcasts via the host station. Both forms of podcasts are downloadable to computers and to cell-phones (we don’t push this) and MP3 players for portable listening.

Blogs, websites, and eZines can promote all media. Video is emerging for us soon – you’ve seen some of our sorry-looking experiments. Here is how we promote and utilize our digital media locally:

• We gain credibility by providing information to the public/marketplace via sound and digital media.
• We market to that public via commercials, targeted surface mail, and email.
• We invite Guests who make contributions of information to the public via sound and digital media
• We invite Guest database and cross-promote to build credibility for both parties.
• We market to mutual databases and offer special services or discounts to both databases. Expenses can be shared or kept separate – with an eye on RESPA guidelines.
• We invite mutual databases and broadcast listeners to hear archivedpodcasts. These are marketed via digital means via blogs, websites, and email.
• We continue with a Second Guest and can then share three databases – directly or indirectly.
• And so on.

The article puts this together better in a nice interview format. We recorded the interview – with permission – which is like an uncut version of the final story – we’ll share that, too. As a point of interest, CMP has shared the article with an affiliated partner in Australia (Mortgage Professional Australia) where it will get that “Down Under” twist. Add this to a couple of quotes in Blogger and Podcaster Magazine (thanks to TalkShoe) – plus a few Podcast Industry audio interviews – and we are having a wee bit of fun and getting a touch of fame. Now if there were only money…

If you follow our blogs at all, you’ll see we are fans of Scott Bilker and Tom Domin. Why? We like what they do as professionals and consumer-advocates (Scott advises about consumer credit and Tom provides low-cost marketing materials to mortgage pros) and want to be associated with them. Having something to offer in the way of support and promotion allows us to control our relationships as professionals – we ARE judged by the company we keep.

Well, that’s the skinny on our moment in the spotlight (or maybe just a flash-light in our case). Just thought we’d share – and possibly inspire. We will help those willing to learn what little we know – perhaps another GROUP (oh no!?!) is in order…

Thanks for reading and listening. With a little effort on our part, you’ll soon be watching, too.

Thanks to Vanessa Chris and Canadian Mortgage Professional for a sweet article!

Art Blanchet

Bill Quigley

Your Home-Your Money

STAGING for DOLLARS with SHELL BRODNAX of RESA

Live on 16 June 2007 from Madison, Wisconsin

STAGING INTERVIEW – Listening Info…

You have been invited by Bill Quigley and Art Blanchet to join in a live TalkShoe simulcast with TalkShoe from Madison 1670-the Pulse. Recorded audio is also available for listening.

Listen to or Join the Talkcast: YOUR HOME – YOUR MONEY
(join within 15 minutes of start time or anytime after)

Phone number: (724) 444-7444

•  
  • Talkcast Name: YOUR HOME-YOUR MONEY – the Real Scoop!
  • Host: Bill and Art – mailto:info@yourhome-yourmoney.com
  • Next episode: #72 – STAGING for DOLLARS – with Shell Brodnax, Sat, June 16, 2007 10:00 AM EDT

Tis the season to be Selling…and there’s lots of competition in home sales this year. One underused weapon in your Home Selling Arsenal is staging – which is the art of presenting your home in its best light. To help us out we’ve invited Staging Marketing and Business Coach Shell Brodnax of the Staging Career Center to share ideas and tips about how to stage your home for maximum selling impact.

Shell also founded RESA – the Real Estate Staging Association – and knows her stuff. Join us in this live feed from WTDY, Madison 1670 – The Pulse.

•  
  • Phone number: (724) 444-7444
  • Talkcast ID: 1009
  • PIN: The phone number or 10-digit PIN you signed up with
  • Other future episodes:
    • #73 – The Evil Empire – Those Nasty Online Lenders, Sat, June 23, 2007 10:00 AM EDT

Two Rules to Stop Solicitors in their Tracks – and Save Your Family Money!

Everybody is trying to sell you something – at least it seems that way. No Call Lists are ignored and salesman have ALL the answers where ever you go. Everyone has a one-time-only deal or buy-now discount. It seems we are destined to be victims, that we need to hand over our wallets and credit cards and just shut up. Not so. There are simple buying rules that will help you hang on to more of your money and avoid spot decisions – and save more than money.

When my family was younger my wife and I had two simple solicitation rules:

1. Don’t buy anything over the phone.
2. If the price isn’t the same tomorrow as today, don’t buy.

The first rule took care of LOTS of problems immediately. I would explain Rule #1 to the solicitor and ask them to mail me additional information for review. If they could/would not, I’d politely state we couldn’t buy then (can’t break a rule) and say good bye.

The second rule eliminated the “create a sense of urgency” sales pitch where you MUST buy today as the price will be higher tomorrow. Again, same explanation – this time about Rule #2. And that was that. We were always nice about it, too.

These ‘rules” eliminate impulsiveness and make the decline easy and less personal. You know – can’t do it because THE RULES forbid it. I think that would work in business as well for most folks.

You can throw in one more rule if you want. It really does help control spending. Here it is:

Neither party will spend more than “X” dollars without consulting the other. “X” can be what works for your family. Say it’s $50. That means if you stop by a garage sale, you can pick up some useful items with a clear conscious, but if something “big” is there – like that must-have moose head wall mount for $200 ($200 is more than $50), another head will be involved in the decision – your spouse’s. Or yours might be removed.

“NO” is a powerful word. It does not have to be difficult – just say, “These are the family (or business) rules. Sorry. Nothing I can do about it.” No pressure. No decision. Easier life.

Art Blanchet

Bill Quigley

Mortgage Title 101 w/Ben Smaglick

16 May 2007 – Madison, Wisconsin

#12 Mortgage Title 101 w/Ben Smaglick – Getting the Basics

Encore performances from Your Home-Your Money Mortgage Talk Radio

Description: Why on earth do we need Title Insurance?! Ben Smaglick, Wisconsin Business Development Manager for First American Title Company joins the Your Home-Your Money Mortgage Radio as a special guest to explain the HOWS and WHYS of the seemingly mysterious (and costly) Title Insurance.

Listen here and find out why lenders require it and learn why homeowners really need it! Super Ben delivers in a fun, easy, and informative episode – don’t miss it!

Link to the recording: http://recordings.talkshoe.com/TC-1009/TS-737.mp3 (Be patient – it will happen eventually…)

In a hurry? Listen here to the “chipmunk version” – a minor hoot!http://www.talkshoe.com/talkshoe/web/audioPop.jsp?episodeId=737&cmd=apop

Jenni the Bill Collector – by Scott Bilker

2 June 2007

Debt Collectors – ya gotta love ‘em. Some people pay their bills for no other reason than to avoid dealing with these misanthrops, the Ambassadors of Animosity. Scott Bilker from DebtSmart shares this story about Jenni the Bill Collector from his website – we’ll share with you and then the follow-up, too Comments from Scott are in italics.

We don’t know if “Jenni” is representative of Bill Collectors in general, but read the article – she sure represented herself as a human quite poorly.

Thanks Scott!

Bii Quigley and Art Blanchet

Your Home-Your Money

__________________________________________________________________
Jenni the Bill Collector

by Scott Bilker

I received a letter from Jenni about Chris Peruzzi’s article, Bad Customer Service. Turns out that Jenni is a bill collector. I found her comments to be quite interesting in that you can get an insight into the thinking of the typical bill/debt collector. I included my remarks for added entertainment.

Jenni: “I am a bill collector. What a lot of people forget is that what we do is our job.”
I don’t think anyone forgets that it’s her ‘job.’ Jenni’s collection victims also have jobs.

Jenni: “We do not come to your office and cuss you out because you wanted an 8:00 meeting. Under the FDCPA (fair debt collection practices act) we are legally allowed to call from 8:00 am until 9:00 pm your local time.”
Of course Jenni didn’t come to our office and cuss. It sounds like she would, if she could, which is why the law limits their contact.

Jenni: “But where I work, we start calling at 7:00 am our time. Do you think that I really want to be pleasant at that time?”
Does Jenni think the people she’s calling are going to be pleasant at that time?

Jenni: “One of my biggest problems is that we are constantly mistaken for telemarketers/customer service. We are far from that. Our job is not to make you happy, but to make our client happy.”
Well Jenni, obviously you’re not making us happy, so don’t be so surprised when people hang up on you!

Jenni: “We don’t always know what is going on though. That is why we call. We were hired to find out why there is a past due bill with you and our client. Give us a break. You do your job, and we will do ours.”
I don’t think Jenni knows why she’s hired. Her job is to collect, not to ‘find out why.’ That’s why the job title is Debt Collector not Debt Investigator.

Jenni: “Also, remember this; we want to get it cleared up just as badly as you do. So allow us to help you dispute things properly if you feel that there is something wrong with the bill. Hanging up and cussing us out does not make us want to help you.”
Jenni assumes that people want her ‘help’ to clear things up. She doesn’t want to help, she wants to collect.

Jenni: “Do you really want something on your credit that could have been avoided?”
More than likely, something is already on the person’s credit report because the account is in collection. It cannot be avoided at this point.

Jenni: “You are an adult. So act like one. If you don’t want us to call at 8:00 am, politely tell us to call you after noon. We will be more than happy to. And don’t insult our intellegence.”
If Jenni could spell ‘intelligence’ it would make it more difficult for people to insult her. The best advice to get Jenni to stop calling is to politely ask for her address and then send a letter demanding that her company cease calling.

Jenni: “I am a 20 year old college student working my way thru just like anyone else. At least I have the manners and maturity to handle things like an adult. Think about that one.”
I thought about it, and I think Jenni doesn’t understand the situations that real adults, not adults by age, have on their plate. Situations like multiple jobs, children, mortgage payments…life!