Thursday, February 26, 2009
3. Buyer has spent
24. Borrower/co-borrower
10. Illness, injury,
The 80 Things That Can Go Wrong Between Contract and Closing
The Buyer/Borrower: 1. Does not tell the truth on the loan application. 2. Submits incorrect information to the lender. 3. Has recent late payments on credit report. 4. Found out about additional debt after loan application. 5. Borrower loses job. 6. Co-borrower loses job. 7. Income verification lower than what was stated on loan application. 8. Overtime income not allowed by underwriter for qualifying. 9. Applicant makes large purchase on credit before closing.
80 Things That Can Go Wrong Between Contract And Closing
I saw this list one day and decided to keep it and give it to all my clients. It is not a scare tactic. It is simply to inform them that there are many things that can and do go wrong. The idea is to be able to anticipate hurdles that will need to be crossed and get them out of the way before my client ever even notices them.
The other day I received a compliment from another agent that I had been working on a transaction with. I always love to get this one. It means that I was doing my job right. We had just closed a 30 day escrow and she said, “This was probably the smoothest escrow I have ever had. I can not believe how quickly this past month seemed to go and how you and I only talked one or two times.”
Wednesday, February 25, 2009
Dennis told Matt that he didn
Utilizing this method not only provided Dennis with the ability to handle more bankruptcy petitions and increase his law firm profits dramatically, but the extra time he gained allowed him to pursue other areas of law which also brought in even more income for the law firm.
Matt: I am shocked. I had no idea that technology had advanced to the level where I could hire professionals to work out of their home drafting bankruptcy petitions. I would be fearful of the virtual assistant committing unauthorized practice of law.
TASK AVG TIME
Total Law Firm Time Total Attorney Time in Court Total Time Per Client 1 hr 25 min 20 min 1 hr 45 min
Total Amount Paid by Clients Less Filing Fees Less Virtual Assistant Fees Net Profit Per Case $1,500.00 -299.00 -300.00 $901.00
Net Hourly Income $515.00*
* This is only an example using the calculations provided. Your actual income may vary.
Virtual bankruptcy assistants normally extend their hours
to evenings and weekends. This enables them to contact
your clients and obtain necessary information after
they have returned home from work and are
more comfortable in their own home environment.
Utilizing virtual bankruptcy
Total time invested by the law firm so far = 1 hour, 25 minutes
g. After my review and approval, the virtual bankruptcy assistant electronically files the case through PACER using my login and password.
The following is an example that demonstrates how the profits for my bankruptcy law firm were immediately increased when I hired my virtual bankruptcy assistant:
change the case entirely
The Case Cover Sheet is a great time saver for me. For instance, when drafting the petition the virtual assistant may discover that the client's home has $15,000 in unexempt equity. By making a note for me on the Case Cover Sheet, I can quickly locate the problem and solve it before the petition is filed. Again, this is another important step that helps to eliminate the majority of catastrophes.
f. Returning a complete and thorough bankruptcy petition for my review. Once I receive the bankruptcy petition for review, if the virtual assistant has done his or her job correctly, I will have less than 30 minutes invested into reviewing the draft. At that point, I can send an email to the virtual assistant and approve the draft for filing or contact the clients to review their petition and make changes. Because the document is returned to me in PDF format, it is easy to email a copy to a client and call them to discuss certain issues.
Monday, February 23, 2009
Matt: But isn't a "bankruptcy forms processor" a
non-attorney who prepares documents for the general
public and competes with attorneys?
Dennis: Not The Lawyer Assistant. They dedicated their services solely to attorneys. In fact, many
attorneys who did not have a bankruptcy practice
formed one when they learned about the benefits The
Lawyer Assistant offered to their law firm.
Matt: Is the company still in business?
Dennis: Yes. The first internet-based company
offering virtual bankruptcy assistant service was The
Lawyer Assistant. Like I said before, the term "virtual"
was not used back then so The Lawyer Assistant
marketed its services under the more widely used term
at the time: "bankruptcy forms processor."
How to Increase Profits for Your Law Firm
written by http://www.713training.com
Page47
Matt: But not all attorneys remained "behind the
times." Have internet-savvy bankruptcy attorneys used
virtual bankruptcy assistants in the past?
Saturday, February 21, 2009
You may have guessed that intra
pursuing your goals quickly and aggressively, never to realize that you
are not mentally prepared to take that kind of a stress yet. We are
situated in this part of the world, 12 hours different which means that
you’ll have to stay awake through out the night to trade. All of this
requires a willingness to not only take risks, but also make scarifies to
your family as they will be sleeping when you are awake. Be wise,
making money is important but striking a balance is even more
important especially where your family is concern.
“Don't limit investing to the financial world
of yourself, and you will be richly rewarded”
– Charles R. Schwab
Know your risk tolerance
This is also the number reasons why people lose money is they get
carried away easily and take unnecessary risk. It is estimated that
90% of the traders lose money in the long run. It is also important to
know what type of financial instruments suits you, your personality
and risk tolerance.
When you begin to learn more and become more experience in your
trading, you may become curious and want to try out different
strategies or approach to reach your desired goals faster. As it is
important to learn new strategies, remember never try it out with real
money as you may suffer financial losses, speaking from an
experienced point of view. Always use your virtual account to try out
your new stuff. It requires time and money, save your money invest
only your time.
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