PostcardMania CEO, Joy Gendusa, stated now is the perfect time for mortgage brokers to promote the recent FHA program revision that could potentially give nearly 240,000 additional homeowners and homebuyers a safer more affordable mortgage alternative.[1] She recently slashed her prices to help her own customers be able to promote more broadly to defy slow economic times and says the mortgage industry should get on the promotional bandwagon and help out some people who are in need.
The FHA made effective on March 6, 2008 temporary loan limits from $271,050 to $729,750 which will give nearly 240,000 additional homeowners and homebuyers a safer more affordable mortgage alternative. The housing agency also indicated that it will relax its underwriting rules to allow borrowers who have had up to 2 late mortgage payments in the last year to qualify for a new federally insured loan, at a maximum of 97% of the home’s current value.[2]
“That news is worth repeating… which is why it’s an excellent opportunity for mortgage companies to help people who have been negatively affected by this housing bust,” Gendusa says. “There are people that need help — potentially 240,000 of them.”
Gendusa says if mortgage brokers want to buck this slump, they will have to take advantage of opportunities that come their way, such as the new FHA limits, and promote like crazy.
About Joy Gendusa:
Using a powerful, simple, extremely cost effective way of communicating with customers has earned Joy Gendusa Inc Magazine’s recognition as the nation’s fastest growing direct mail postcard-marketing firm with year 2007 revenues at nearly $19,000,000. Gendusa began in 1998 with zero investment capital. Today, her
[2] New York Times: White House Offers New Housing Plan, by David M. Herszenhorn, Published April 9, 2008.
