Did you do a happy dance when you read the headlines about the FHA coming up with a 40-year mortgage? Me too.

Until I actually read beyond the headlines.

It’s not a new home loan product on offer, and the operative word in its name that people seem to be missing is “modification.”

Let’s dive into what the FHA is actually offering because it’s not what the media are saying it is.

It’s a mortgage MODIFICATION

“As of May 8, homeowners straining to pay their Federal Housing Administration (FHA) mortgages have another lifeline: the 40-year mortgage modification,” explains Natalie Campisi at Forbes.com.

The program aims to reduce the borrower’s mortgage payment by at least 25%. But, with rising mortgage rates, financial experts caution their clients not to get too excited about the program.

Even “… HUD acknowledges the effect is blunted as interest rates remain high,” according to Campisi.

If you have clients interested in this loan modification, urge them to call their servicer. Their situation will then be evaluated for whichever program fits.

Sadly, too many journalists missed the word “modification” when reading the press releases for HUD’s 40-year mortgage modification program. Homebuyers nationwide are now excited about getting a lower house payment if they can get an “FHA 40-year mortgage.”

As usual, it’s up to real estate agents and loan folks to clean up the mess and set consumers straight.

The best way to get the word out? Through your newsletter, blog posts, direct mail, and social media posts. 

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

The Real Estate Marketing Planner is a powerful 12-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

3. The Free Interactive Real Estate Business Plan

The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals.  – Click Here

4. The Become a Listing Legend Free eBook 

Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here

Do you ever wonder why they don’t call you a “lead generator” instead of a real estate agent? After all, generating leads consumes a huge portion of the typical agent’s work week.

If you’re new to the business, getting leads is a make-or-break proposition. Either you generate solid leads, or you go out of business.

Yes, this is not the best time to hunt down real estate consumers. The media is doing a good job of scaring them away from the market. But there are buyers out there, and new data from Showing Time proves it.

We asked several agents we know what they’re doing right now that is inexpensive, and they graciously allowed us to share their answers.

1. Tweet 

Although we don’t recommend Twitter for marketing your real estate business, we thought diehard Tweet fans might enjoy this tip.

Anytime you have a free couple of minutes, hop on Twitter and type “moving to [name of the city]” in the search box. You can use variations of the search term as well. Try these:

• Buy a house in [name of city or name of the neighborhood]
• Best neighborhood in [name of city] to buy a house
• Real estate agent in [name of market]

These were off the top of our heads, and you’ll no doubt come up with more.

This tip, by the way, comes from Bernice Ross at Inman.com.

2. Content works if done right

According to statistics at Placester.com, more than three-quarters of homebuyers who use the internet when house hunting say that they prefer reading articles over being blasted by ads or self-promotion when visiting an agent’s website.

“Any old message or clever tagline isn’t going to pique their interest – what they crave now is useful, interesting content,” cautions Seth Price at Placester.com.

Content marketing won’t give instant results, but when it starts working, you’ll wonder why you didn’t start long before.

By the way, a brilliant way to increase your site’s visitors is by posting and sharing content about local businesses on social media. Be sure to send a copy to the business so they can share the free advertising with their readers.

3. Use others’ listings

No listings of your own? Ask your colleagues if you can share their listings on your blog and social media. Facebook is an especially good platform for sharing listings, as long as you don’t do it too often.

Stick to listings taken within your brokerage, and talk it over with the listing agent first.

Bonus tip: Spread the truth about what’s happening in the market. Nobody knows better than you that the market isn’t as bad as the media makes it out to be. People are looking at homes, this is an excellent sign that real estate is alive and kickin’!

PLUS: When you have time…below are some marketing tools to help support your success.

1. Put Your Real Estate Business a Step Above with Your Own Branded Magazine

Homes & Life Magazine is a customizable magazine with rich, full-color content and a sharp, professional aesthetic. It includes compelling, direct response-driven articles written by real estate industry experts and engaging lifestyle content. Send out Homes & Life Magazine in Just Minutes – No Minimums Required. Or we’ll ship it to you. Homes & Life Magazine is the ultimate “Coffee Table Lingerer”! …and it costs less than sending a greeting card! – Click Here

2. The Free 12-Month Done-For-You Strategic Marketing Plan

The Real Estate Marketing Planner is a powerful 12-Month Guide that strategically defines what marketing to do and when. Four key market segments include niche Markets, geographic farming, sphere of influence, and past clients. – Click Here

3. The Free Interactive Real Estate Business Plan

The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals.  – Click Here

4. The Become a Listing Legend Free eBook 

Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here