You Have a Tremendous Opportunity to Refinance Those Adjustable Rate Mortgages That are out There.

Written By: Karen Deis

According to statistics from various sources - from January to June 2008, $521 billion dollars in adjustable rate mortgages are scheduled to adjust. Here are the numbers for 2008:

What does this all mean to you? Opportunity and MORE opportunity!

I personally have an adjustable rate mortgage and received a letter from my mortgage company reminding me that it will adjust one year from now!

YES, they are trying to get me to refinance a year ahead of time! So if you think it's okay to start soliciting for refinances 60 to 90 days before the adjustment, your competitors (and servicing companies) are way ahead of you.

People who have an adjustable rate mortgage fall into 2 categories:

1. Past clients who currently have an adjustable rate mortgage and you were the original lender.



2. Purchased lists of borrowers who have an ARM and closed with your competitors.

There is no need to wait to solicit refinances from ARM borrowers. They know they have an adjustable rate mortgage. They know it will adjust in the future. And believe me...they know that the payment will increase.

Here are 2 examples of postcards to solicit the refinance of their ARM loan - regardless of the adjustment period.

If you decide to purchase a target mailing list (do not purchase a list of phone numbers) or get a list from your title company, don't just send the postcard to everyone who has an ARM loan. I recommend that you ask (the list company) for a minimum loan amount - maybe $150,000 or higher. At the lower amounts, some of those ARM's could be 2^nd mortgages.

The headline on the front of the postcard should read:

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