Episode Summary

Nina Hart did not plan to be a loan officer. She was 18, looking for a job, and ended up at a mortgage company because she spoke Spanish. That was the beginning of a career that has taken her deep into one of the toughest housing markets in the country. In this episode of Troy Talks Money, Nina breaks down what it really takes to get a mortgage approved, why credit reports break hearts, and what families in today's market actually need to know before they ever walk into an open house.

• How Nina Hart entered the mortgage industry
  Nina Hart describes her journey starting as a telemarketer at 18, leveraging her Spanish language skills, and advancing to a top loan officer role 00:00:59.

• Skills learned from telemarketing
  The importance of mindset and customer relations: “Always smile first, then dial” 00:01:26.

• What it takes to become a loan officer
  Preparation, structuring deals like a “Jenga game,” and the significance of honesty in client disclosures 00:03:38.

• Understanding debt-to-income (DTI) ratios
  Simplified explanation of DTI, real-world vs. textbook lending ratios, and why full financial disclosure is crucial 00:04:39 and 00:05:26.

• Challenges of the California market
  Discussion around how rising home prices are outpacing incomes and impacting families’ ability to buy or move within the state 00:09:11.

• COVID’s impact on real estate
  How the pandemic affected home buying behaviors, including bidding wars, waived appraisals, and historically low interest rates 00:10:13.

• Manual vs. Automated Underwriting
  The pros and cons, and how certain debts or credit issues can require manual review 00:06:09.

• Emotional challenges in lending
  The heartbreak of denying clients due to credit issues, often beyond their control, and the realities of how U.S. credit systems penalize people for “life happens” moments 00:15:12 and 00:16:08.

• Down Payment Assistance Programs
  Details about California-specific programs (e.g. CalHFA’s silent second mortgage) and how these can be a lifeline for qualifying buyers 00:24:02.

• The mortgage qualification process
  The logic behind seeing a lender before a realtor, preparing financials, and “payment shock” 00:12:09.

• Current mortgage industry challenges
  The increasing necessity for dual incomes, the risks of cosigning, and why credit discipline is more important than ever 00:28:43.

• “Always smile first, then dial. They can hear your mood on the phone.” – Nina Hart 00:01:26

• “Structuring a mortgage deal is like a Jenga game—miss one piece and it can all fall apart.” – Nina Hart 00:03:38

• “A credit report tells you everything from about eight years ago. You can see when ‘life happened.’” – Nina Hart 00:15:12

• “We’re supposed to have equal housing opportunities, but we discriminate all the time based on FICO scores.” – Nina Hart 00:18:14

• “Fifty-year mortgages aren’t a solution—they’re just to create more wealth for the banks.” – Nina Hart 00:22:19

• “Take care of your credit report. Don’t co-sign for anybody, no matter how nice they are.” – Nina Hart 00:29:07

• CalHFA – California Housing Finance Agency

  • Down payment assistance and “silent second” mortgages: 00:24:02

• Nina Hart on Social Media

  • Facebook, Instagram, TikTok: Search “Nina Hart” for mortgage tips and client stories 00:29:34

• TroyHolt.com

  • Book a free consultation with Troy Holt: 00:30:32

• Nina Hart: Loan officer, mortgage guide, and social media educator—active on TikTok, Facebook, and Instagram (search “Nina Hart”).

• Troy Holt: Certified financial educator, debt elimination specialist, podcast host.

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Black homeownership in America is down 45 percent. And most families who want to buy a home are being stopped by information that is simply not true.

RaySean Reaves is a Nashville realtor and president of NAREB Nashville, also my cousin.

He joined me on this week's episode of Troy Talks Money to have a real conversation about what is actually keeping Black families out of homeownership and what you can do about it right now.

We covered why home prices are rising faster than wages.

Why is credit being used as a barrier when it does not have to be?

Why the two percent interest rates are never coming back, and why that should not stop you.

And why the people on the internet telling you buying a home is a bad investment are the same people collecting your rent check every month.

RaySean also shared a story from a deal he closed the same day we recorded. A young woman veteran. VA loan. Zero down.

He negotiated forty thousand dollars in concessions on her behalf, and she walked away from the closing table with a check in her hand.

This conversation is for every family that has been sitting on the sidelines waiting for the perfect moment. The perfect moment is not coming. The game plan is.

Connect with RaySean Reaves:Phone: 615-586-0542Email: [email protected]Website: raysean.comNAREB Nashville: narabnashville.comInstagram and Facebook: RaySean Grindhard

Troy Holt is a Certified Financial Education Instructor, Navy veteran, and debt elimination specialist. He helps families pay off their mortgage and all debt in five to seven years without refinancing. Visit TroyHolt.com to book a free consultation.

Most buyers think having a pre-approval means they are ready to buy a home. Rickeshia Odell says not so fast.

Rickeshia is a REALTOR with eXp Realty licensed in Minnesota and Wisconsin. She has been walking buyers and sellers through one of the biggest financial decisions of their lives for over 12 years. In this conversation she breaks down what most people get wrong before they ever make an offer, why you should call your realtor before your loan officer, what upfront costs most buyers never see coming, and how knowing your why makes the difference between someone who closes and someone who stalls.

She also gets into what sellers misunderstand about their own home value, what really happens when a deal falls through, and why her approach has always been about walking with people hand in hand instead of just pushing papers across a table.

If you are thinking about buying or selling a home, this conversation is for you.

Connect with Rickeshia Odell:Phone: 612-839-9509Email: [email protected]

Troy Holt is a Certified Financial Education Instructor, Navy veteran, and debt elimination specialist.

He helps families pay off their mortgage and all debt in five to seven years without refinancing.

Visit TroyHolt.com to book a free consultation.

More Than a Rate: What a 20-Year Mortgage Banker Wants You to Know. 

Most people think getting a mortgage is simple. Find the lowest rate, sign the papers, and move in. But there's a whole lot more going on behind the scenes, and today's guest has been navigating it for over two decades.

Jennifer Ceballos has been a full-time loan officer since 2006. She works with all types of borrowers and specializes in self-employed borrowers, investors, and first-time homebuyers. She is solutions-oriented, well-versed in non-QM loan products, and customer service is at the top of everything she does.

In this conversation, we get into why rate shopping can cost you more than you think, what AI actually can and cannot do in the lending world, and why some of the best loan officers out there are part therapist, part financial coach.

We also break down loan types most people have never heard of. DSCR loans. Bank statement loans. Fix and flip financing. A 0% interest bridge loan. Asset-based loans. No FICO score loans. If you think you can't qualify, you need to hear this episode before you give up.

And if you don't qualify today, Jennifer is going to tell you exactly what to do until you do.

Connect with Jennifer:📞 646-210-5287 (call or text)

Ready to eliminate your mortgage in 5 to 7 years without refinancing?

Visit TroyHolt.com and book your free consultation.

No pressure.

No pitch.

Just a real conversation about where you are and where you want to be.

New episodes drop every other week. Subscribe so you never miss one.

Timestamps:

00:04 -- Welcome and introduction

01:15 -- How Jennifer got into the mortgage industry

05:13 -- The biggest challenges as a loan officer

06:16 -- Rate shopping and what it really costs you

14:08 -- The 50-year mortgage conversation

18:09 -- Will AI replace loan officers?

21:07 -- How Jennifer serves clients nationwide

23:07 -- DSCR, bank statement, and no-doc loans explained

28:44 -- Fix and flip, bridge loans, and more

33:04 -- Final thoughts and how to reach Jennifer

#MortgageTips #HomeLoans #DebtElimination #RealEstate #FinancialEducation #TroyTalksMoney #MortgageBanker #DSCRLoan #FirstTimeHomeBuyer #WealthBuilding

Something changed. And it was time to talk about it.

In this episode of Troy Talks Money, I sit down solo and walk you through the story behind the rebrand, where the old show went, what shifted, and exactly where this podcast is going from here.

I also break down the three things you can expect from this show going forward: real interviews with homeowners and financial professionals, solo teaching episodes on mortgage strategy and debt elimination, and vault episodes from conversations I recorded under the old brand that were too good to leave on a hard drive.

What you will take away from this episode:

• Why The Financial GPS name means exactly what it says
• What this show is and who it is built for
• How to pay off your mortgage in 5 to 7 years without refinancing

Connect with Troy:Website: thetroytalks.comNewsletter: The Financial GPS on SubstackBook a Free GPS Consultation: Book HereInstagram: @Troy_Talks_MoneyTikTok: @TroyHolt67

Welcome to the Troy Talks Podcast episode #75!

In today's episode, we're thrilled to have Kelani Blackwell, a trailblazing consultant and advocate in the commercial real estate industry.

Kelani has made significant strides from her start in residential real estate to becoming a strong voice for diversity, equity, and inclusion in commercial spaces at CBRE.

Today, she will share her firsthand experiences of the challenges faced by minority brokers and the significant disparity in diversity within commercial real estate.

We'll delve into how she transitioned her career, her motivational journey in establishing the "Women in Real Estate" club on Clubhouse, and how this platform has supported over 70,000 women by fostering a sisterhood of professional growth and empowerment.

Kelani also highlights the potential for bringing commercial real estate opportunities to underserved communities and discusses her long-term vision, including the launch of an investment fund and the upcoming Wirecon conference in 2024.

Join us as Kelani shares invaluable insights and her unique perspective on transforming the landscape of commercial real estate while creating impactful community connections

Topics covered:

- Kelani's background in real estate beginning with her mother's influence as a realtor and loan officer.

- Transition from a corporate job to entering the real estate industry, starting in a small fix-and-flip operation, and evolving into a full-service boutique brokerage.

- Moving to a significant role at CBRE focusing on multifamily investment property sales.

**Challenges in Commercial Real Estate**

- Discussion on the transition from residential to commercial real estate including the differences in emotional engagement and the complexities of commercial deals.

- The broader scope of commercial real estate, including various asset classes and brokerage types.

- The challenge of diversity in commercial real estate, particularly the lack of minority brokers in producer roles versus support roles.

- The difficulties faced by minorities in building a sustainable income and book of business within commercial real estate.

**Creation and Impact of Women in Real Estate Club on Clubhouse**

Connect with Kelani Blackwell

LinkedIn: https://www.linkedin.com/in/kelanib/

Instagram: https://www.instagram.com/kelanib?igsh=MWlrdHoyM3FpM3Jvdw==

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Afsha Butt, a woman of color in the male-dominated finance industry, shares her incredible journey on the Troy Talks podcast. From overcoming prejudice to forming partnerships and educating young professionals, Afsha's story will leave you inspired and wanting to learn more. But just when everything seems to be going well, a shocking turn of events leaves Afsha in a difficult situation. What will she do next? Don't miss this gripping episode.

My special guest is Afsha Butt

Afsha Butt is a trailblazing CEO and founder of Wealthverse, a financial technology company. With a distinguished record in the financial services sector, she is an award-winning consultant and wealth strategist. Afsha is passionate about empowering established professionals to unlock their untapped financial potential through intelligent money management and mindset development. As a woman of color in the finance industry, Afsha has overcome numerous challenges and has become a shining example of success. Her expertise and unbiased approach to investing have earned her recognition and respect in the industry. With her wealth of knowledge and experience, Afsha is dedicated to helping women of color navigate the obstacles they may face and thrive in their finance careers.

I realized, I'm not just doing this to learn what they did. I'm also doing this to learn what I don't want to do and what I'm going to do differently. - Afsha Butt

In this episode, you will be able to:

Challenges Faced by Women in Finance
As a woman and a minority, Afsha Butt had to navigate a largely male-dominated financial industry. Nevertheless, despite the challenges and occasional prejudice she faced, her determination allowed her to overachieve and establish herself as an eminent financial advisor. Butt's story highlights the struggles women in finance face, but also the immense potential and resilience that can lead to success against all odds.

The resources mentioned in this episode are:

Connect with Afsha Butt: 

Website: Wealthverse.ca

Linked: https://www.linkedin.com/in/afsha-butt/

Instagram: ⁠https://www.instagram.com/afshaaofficial/?hl=en

Connect with Troy Holt here: 

Website: ⁠⁠⁠⁠⁠⁠⁠⁠https:///www.troyholt.com⁠⁠⁠⁠⁠⁠⁠⁠⁠ 

LinkedIn: ⁠https://www.linkedin.com/in/troydholt⁠⁠⁠⁠⁠⁠⁠⁠ 

Twitter: ⁠https://twitter.com/TroyTalksMoney⁠⁠⁠⁠⁠⁠⁠⁠ 

Facebook: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/profile.php?id=100063546310389⁠⁠⁠⁠⁠⁠

Like, subscribe, download, and give a review of the Troy Talks podcast.

If you're feeling the frustration of constantly putting in extra hours, sacrificing your personal life, and still not getting the promotions or recognition you deserve, then you are not alone! Many professionals find themselves stuck in this cycle, wondering why their hard work isn't paying off.

In this episode, you will be able to:

My special guest is Helen Ofosu

Dr. Helen Ofosu is an expert in industrial and organizational psychology with over 20 years of experience in the field. As a career and executive coach, she specializes in assessing and developing leadership skills, as well as navigating workplace challenges such as bullying, harassment, equity, diversity, and inclusion.

Dr. Helen Ofosu founded the I O Advisory Services in 2012, offering executive and career coaching, HR consulting, and speaking engagements. Her expertise in psychology and business allows her to provide practical insights and strategies for professionals seeking to enhance their career resilience and navigate workplace challenges.

With her upcoming book, "How to Be Resilient in Your Career: Facing Up to Barriers at Work," Dr. Helen Ofosu continues to empower individuals to overcome obstacles and thrive in their professional lives.

Connect with Dr. Helen here: 

Website: https://theresilientcareer.com/

Linked: https://www.linkedin.com/in/helenofosu/

Facebook: https://www.facebook.com/IOAdvisoryServices/

YouTube: https://www.youtube.com/user/ioadvisory

Instagram: https://www.instagram.com/drheleno_ca/

Connect with Troy Holt here: 

Website: ⁠⁠⁠⁠⁠⁠⁠https:///www.troyholt.com⁠⁠⁠⁠⁠⁠⁠⁠ 

LinkedIn: https://www.linkedin.com/in/troydholt⁠⁠⁠⁠⁠⁠⁠ 

Twitter: https://twitter.com/TroyTalksMoney⁠⁠⁠⁠⁠⁠⁠ 

Facebook: ⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/profile.php?id=100063546310389⁠⁠⁠⁠⁠

Like, subscribe, download, and give a review of the Troy Talks podcast.

Have you ever heard these myths about Small Business Administration (SBA) loans for established businesses?

Myth 1: SBA loans are only for startups.

Myth 2: SBA loans are too complicated and time-consuming to apply for. Myth 3: SBA loans are only for certain types of businesses.

In this episode, our guest, Deb Curtis, will debunk these myths and share the truth about SBA loans for women and minority small business owners.

In this episode, you will be able to:

My special guest is Deb Curtis

Rising from humble beginnings, Deb Curtis is a beacon of inspiration to any budding entrepreneur.

She is the founder of Curtis Small Business Finance Solutions, where she provides specialized consultancy in business ownership bank finance transactions.

As a woman in a male-dominated sector, Deb made a commendable stride, becoming a trailblazer for countless women in corporate settings.

She wears her relentless grit alongside her professional acumen gracefully, indicating that professional success is not solely tied to academic degrees.

Connect with Deb here: 

Website: https://www.debcurtis.com

Linked: https://www.linkedin.com/in/deb-curtis-190534b/

Facebook: https://www.facebook.com/debjojocurtis/

Connect with Troy Holt here: 

Website: ⁠⁠⁠⁠⁠⁠⁠https:///www.troyholt.com⁠⁠⁠⁠⁠⁠⁠⁠ 

LinkedIn: https://www.linkedin.com/in/troydholt⁠⁠⁠⁠⁠⁠⁠ 

Twitter: https://twitter.com/TroyTalksMoney⁠⁠⁠⁠⁠⁠⁠ 

Facebook: ⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/profile.php?id=100063546310389⁠⁠⁠⁠⁠

Like, subscribe, download, and give a review of the Troy Talks podcast.

Unveiling the Secrets: Tina Houchins on Increasing Homeownership in Underserved Communities

If you're feeling frustrated and helpless because your efforts to increase homeownership rates in underserved communities are falling short, then you are not alone! Despite your best intentions, offering traditional mortgage products and outreach programs may not be enough to bridge the homeownership gap. Instead, potential buyers from marginalized racial and ethnic groups face systemic barriers such as discriminatory lending practices, lack of affordable housing options, and limited access to resources and information.

In this episode, you will be able to:

My special guest is Tina Houchins

Today’s guest is Tina Houchins, an accomplished Air Force veteran who, after her retirement, engaged in nurturing financial literacy. Always being drawn to service, Tina turned her focus on financial education, recognizing it as a critical aspect of individual and community growth.

Tina now heads the Houchin Financial Group where she plays a pivotal role in creating mortgage strategies that synchronize with the specific circumstances of her clientele. Her broad experience and genuine aspiration to help have enabled her to navigate clients through the mortgage process effectively and efficiently.

Key Takeaways

Connect with Tina here:

Connect with Troy Holt here: