I have copied a letter that was written by Jon Gordon that I think is perfect for today’s times. Please enjoy:

“Years ago as a young 26 year entrepreneur in Atlanta I was invited to speak at an event where President Clinton was also speaking. As people mingled back stage I’ll never forget watching him as he put his hand on the shoulder of the Governor and said, “It’ all about psychology. You need to understand the psychology of the voters. It’s all about psychology.” Not surprisingly Clinton and his team came up with the famous phrase, It’s the Economy Stupid.” They understood that psychology drives elections and the economy.

Fast forward to today, it’s no wonder the financial markets continue to spiral downward. The 24/7 media is creating a frenzy of panic and fear that is negatively impacting the collective psychology of the country. I have heard from many people who are more stressed and fearful than they have ever been in their life. And like a horror movie where the things you fear start to appear, out collective fear is making our worst nightmare come true.

We need to realize that the economy is not some abstract entity separate from us. The economy is us. YOU and I are the economy. Our thoughts, behaviors, actions and mood collectively create the economy. Government can try to manipulate our actions through tax plans, regulations, incentives, etc. but in a nutshell WE are the economy. Our collective mood, productivity, innovation, positive energy and execution determines whether the economy is thriving or in a recession. Paying our mortgage helps the economy. Working hard helps the economy. Starting a business helps the economy. Making a product the world needs helps the economy. Replacing our psychology of fear with a psychology of trust helps the economy.

But how can I trust anything, you might ask, when everything I’ve trusted in if falling apart. My answer is what we’ve put our trust and faith in the wrong things. Our government, media, financial institutions and our own actions have shown us that a house built on a foundation of greed cannot stand. The cracks have been exposed and it’s a wakeup call to all of us. As Charles West said, “We turn to God for help when our foundations are shaking, only to learn that it is God who is shaking them.” Our foundations are shaking for a reason. We are meant to realize that security is an illusion. There’s no power in having a big bank account. You can’t find peace in your investment portfolio and you’ll never find your true purpose in your 401k plan.

We are meant to stop listening to the media, aka, Chicken Little and have faith in something bigger than ourselves. We are meant to trust in God, not in our balance sheets. We are meant to realize that true power exists not in what seems big and strong and secure but in what is silent and unseen. This is where faith lives.

So instead of starting your morning by turning on the news, consider taking a walk of prayer. Instead of looking down at the paper, look up to the heavens. And instead of listening to the fear mongers, walk outside, close your eyes, smell the fresh autumn air, take a few deep breaths and discover the real peace you seek. Every day, stay positive, do your best to succeed and have faith in a brighter and better future. I believe this is the antidote to fear and it is the true kind of trust that you, me and the economy need right now.”

Stay Positive!
-Jon Gordon


Brian Maecker
REMAX Advantage

I am very frustrated with this 700 billion bailout. The banks are unwilling to help themselves. I am sure I speak for many realtors and homeowners who have tried to work out short sales and payoffs with banks and find them unresponsive.

An example is of a home we tried to sell 2 times this summer. The homeowner hired us in May to sell their home. We received the 1st contract in June and it represented an $8000.00 shortage to bank. 10 weeks later, 20 calls and 4 faxes no response from lender. Buyer left to purchase another home. We put home back on market at the beginning of August. Received 2nd offer beginning of September. It is now October 4, and no answer. I faxed offer 2 times, was told they had appraisal and now no answer. Buyer left the purchase!!!

So why are we helping those who are not helping themselves. This bank yesterday filed foreclosure against this homeowner. We could have sold it twice for an $8,000 loss. Now it will cost the bank $50-70,000. No it will cost all of us 700 Billion.

The banks need regulation, but more, they need common business sense.

Thank You
Brian Maecker
REMAX Advantage

Nothing is further from the truth than the above headline! Although today’s newspapers such as the Wall Street Journal, USA Today and our local Gazette would tell you different.

Home buyers can get mortgages. Fannie Mae and Freddie Mac are still backing home mortgages. Wells Fargo, Countrywide , Wachovia, Citimortgage and Adams Mortgage are all willing to loan to qualified buyers and investors. The trick is to be “truly” qualified. Yes, if you have bad credit, you cannot get a loan, but if you have a credit score of over 550 you can secure many types of loans. Some even with zero down. Let’s explore them!

VA loans are for veterans of military service. VA eligibility in the Colorado Springs market extends to $335,000 with zero down payment. The VA charges a funding fee of 2.25% that insures the loan from foreclosure. Qualifications are based on credit score 550 or better plus income to debt ratios. If you have been in the Army, Coast Guard, Air Force, Marines or Navy, this is the loan for you.

FHA is an excellent program. FHA means Federal Housing Authority. They guarantee banks from foreclosure by charging a 3% mortgage insurance premium up front and onto the loan. They also add another $25-50 per month premium. A consumer does need 3.5% down payment starting in January. Currently its 3%. A credit score of above 600 is necessary to obtain this type of loan. Many other government backed entities like Chaffa and The National Home Grant assist with downpayment on these programs. This is the next best thing for folks with low downpayment concerns.

Then there are Conventional loans. This is the arena that has caused most of our current financial mess. No longer can you use a second mortgage as down payment. A consumer must put at least 5% of their own money into the down payment. The lenders charge primary mortgage insurance if the loan is more than 80% of value. Again these loans require 600+ credit scores and they look at income to debt ratios. This is also the type of loan an investor would use, but investors must have 20% down payment.

So as you can see there is money available at great interest rates. The biggest thing is that you must “Truly Qualify”. No more games! If you have good credit, low bills and a paying job, you can buy a house.

Please give us a call at 719-593-2963.
Thanks,
Brian