How a mom saved her family from getting evicted - Be a mortgage and real estate broker - Kid 101

How a mom saved her family from getting evicted – Be a mortgage and real estate broker

Recently, we have heard of numerous families getting evicted from their homes due to unpaid rent. What can we do to save our families from such a harsh situation?

This is a situation which can be faced by joint hard work of a family.

Let me tell you a story of a friend, who lives with her three kids and husband in a rented facility. She decided to stay at home to be able to take care of her kids. But, the salary of her husband was not enough to pay the bills and other necessities of the house. Slowly the debt started increasing and they came close to their house eviction.

Then, a neighbour advised her about the job of a Real Estate and Mortgage Broker.

A mortgage broker helps a landowner by planning credit applications for a bank or loaning establishment. They gather monetary data from borrowers to prepare documents to be submitted to the guarantors. They write credit history, collect credit reports, and file out loan applications for their clients.

A real estate broker shows properties to the buyers. They are licensed to sell homes. They receive payment when the loan on house is closed.

She then decided to get the required licenses and certifications and start her own brokerage business. It is not a full-time job. You can work at your own pace from your home. You just need to leave home for meeting with your clients and lenders.

Within a short time span of 6 months, my friend was able to repay her debts and today they are happy working family.

Let’s read further on the certifications and licenses for becoming a Mortgage / Real Estate Broker:

Mortgage Broker

Education: Bachelor’s Degree

Certification: SAFE Mortgage Loan Originator Test from NMLS.

The fees for the national test is just $110. The steps for testing are:

  1. Pay for the test and accept the candidate agreement
  2. Schedule a test appointment
  3. Prepare for the test
  4. Take the test on your schedule

 

Preparation of the test: You can either read the MLO testing handbook on your own to give the test or you can take a course from any of the colleges and then give the test.

Few colleges to provide education for MLO test:

Allied Real Estate Schools

The Allied Real Estate School is an NMLS approved the school. It is 100% online, so no need to go to a college. Allied will pay your credit banking fee directly to the NMLS upon course completion.   It provides an all-inclusive S.A.F.E. education.

They provide you 20-Hour SAFE Mortgage Loan Originator Comprehensive Course. You also get the SAFE MLO National Exam Online Prep w/UST, and 8-Hour SAFE Comprehensive Continuing Education.

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