Letter From The President 2008

                                                                                      August 29, 2008                           

Dear CCAR Members:

            This booklet is intended as a Mortgage Financing Guide to supplement any financing programs and policies that your broker may have in place already.  It has been compiled and assembled by very dedicated volunteer members of the CCAR Mortgage Financing Committee who are professionals in their industry and who have worked tirelessly to assemble this information.

            The information contained herein which is available from separate sources, but not in one volume, is intended to guide REALTORS® in a cursory examination to initially determine the financial abilities and qualification of potential purchasers of real property.  This examination of the buyer’s financial ability and qualification to purchase usually takes place during the initial counseling interview with clients.  The information collected at the interview guides you in determining the type of housing and financial programs that might be suitable for your buyer client.  Or, it may lead you to conclude that the buyer is a marginal purchaser.  In a listing presentation this booklet could also be a guide to help determine the type of financing that might be appropriate to market property for your seller client.

            Once you start working with a client, an interview with a professional mortgage banker/broker should be arranged as soon as possible to ascertain that the initial guideline determinations for your clients are correct and to also give a professional lender an opportunity to expand the financial alternatives which might be available for your clients. 

            Obviously, all mortgage financing information is time sensitive because rules, laws, lender programs and requirements are constantly changing.  We have tried to make the information in this Mortgage Financing Guide as correct as possible, but be sure to check with your preferred lender about the accuracy of this information because their programs and requirements may vary from the CCAR information published here.

            It is an established fact, that in order to be successful as a professional REALTOR®, you must have a good understanding of basic mortgage financing principals since most all real estate transactions have some type of financing attached.

            We at CCAR hope this Mortgage Financing Guide will help further your career as a professional REALTOR® and enable you to do, “Better business … the Carroll Way”.

                                                                                    Sincerely,  

                                                                                   Rusling D. Blackburn                                                                                       President - 2008