Foreclosure for Dinner

A few months ago, I happen to be enjoying a nice meal the other day with my partner, when I happen to hear some words coming from a table near by.  As a New Mexico mortage banker, certain words, or phrases always catch my attention; especially if what is being said causes an eye twitch, or spinal tingle from a misinterpretation, or quite frankly- ignorance! There was this nice couple talking about the economy.  The statement that caught my attention was this: Wife:  “There are so many foreclosures right now honey- why don’t we look into investing in some of the properties?” Husband ( I think) “Are you insane? There is no money to lend right now, and to qualify for anything is in possible”!”.

Well my partner must have seen me shudder..and of course I then get “the look” along with… “Kelly… today is your day off… let it go..”  but I just could not.  Even though I was in sweat pants, no make up, and my hair looked like had hung my head out the window during the drive… I calmly said.. “I have to say something”…

So I get up, walk to the couple, and say simply.. ” Hi, I am so sorry to bother you, but I could not help but overhear you talking about foreclosures as an investment property- and I am a mortgage banker- I am the bank.. and you need to know that there is plenty of money being lent right now!.. do you have a few minutes or would you mind if I told you about it briefly?” (Of course I always have a business card or two, so I handed them my card so they did not think I was a random nut case).  They invited me to sit down.  I glanced over to my partner who just shook her head.. knowing… I would be gone for a while… (sorry dear!)

So I began to talk… I talked about the Homepath program- available in every state and county in the US.  The fact that these properties required a very small down payment, no mortgage insurance, and no appraisal so they could buy these “as is”.  I also explained that there was also money to renovate these properties through the Homepath Renovation program.  I also explained that the governement was overloaded with these foreclosed properties, and that will a solid approval, they could make a nice low offer and have a good chance to get it approved.  20 minutes later, they thanked me for the information and I returned to a very cold dinner and even colder partner…uh oh!

What inspired me to write this blog today was that I just got a call this morning from that same couple.  I usually dont answer on Sunday, but something made me today.  They had visited the Homepath website ( and found a property they wanted to buy.  We spent about 15 minutes reviewing their credit and just sent them their letter of approval about 20 minutes ago.  They thanked me for getting them approved so quickly, and I then suggested a great realtor to call to negotiate the home for them.  An agent who was experienced in Homepath properties.  The husband.. I will call him “Jim”, made this final statement to me.  ” I cannot believe that these homes are so easy to buy and no one is buying them… they should be gone the moment they hit the site… they are such good deals!”  And I agree.  He also said.. “How come no one knows about these?”

To sum it up guys and girls… especially the agents who will read this.  You NEED to know everything there is to know about the Homepath program.  You NEED to advertise this program to your database .. you NEED to advertise these on craigslist, Facebook, Twitter and every other Social Media outlet.  You may also want to know there are alot of selling agent/listing agent incentives for you… The program is easy to qualify for.. and easy to sell!  So what are you waiting for?


If you would like more information on this program or need me to answer any questions, please contact me at the following:

[email protected]

[email protected]

Kelly Krauth, Sr Loan Officer NMLS #246197

505-286-3071 or 505-238-1218