needs to be discussed here is the high cost of living ( housing, dentist.glassses, medical, plumber, food, utilities, etc). With notary proftis plunging , and the cost of living soaring, that is a bad combination. Even the cost of those crazy notary educational course fees are higher. High inflation kills household discretionary spending.
This past week, I had a $1,000 dentist bill ( which is $288 higher than 1 year ago) and I needed the services of a plumber ( $429 bill). Some notaries can't afford items such as a $1,000 dental bill, a new pair of prescription eye glasses or a decent meal at a restaurant, yet they take a money losing or marginally profitable mobile loan signing. I don't get it. The business is dead.
how can you justify passing on a $115 HELOC? If the travel is more than 4 miles each way, I would turn it down. It is much easier and infinitely more profitable to focus 99% of my time on GNW. I just say "NO to mobile loan signings ( and drugs)
GNW does require a bit of marketing. I am lazy about that. In August ( I am going to Maine for the month of July), I will resume some GNW marketing. If I waste my time and money on a loan signings just to take a signing job, the profit to my bottom line to my business ultimately suffers. It never fails. It is a distraction to doing more profitable work. For example, I have several Trust and Estate lawyer clients that I have had for over 4 years. Extremely profitable. I have lots of repeat GNW clients. I need to be totally available to those clients and not take $85 ( or $100 or $125) mobile loan assigments.
Notaries tell themselves, "isn't it great? I just earned $85 for 2 hours of work!". That's how loan signing agents think and justify their existence. No, it is not great. It is not good. And it is not OK. It's terrble. Try paying a dental bill with that type of business profitability.
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| Messages in this Thread |
|  There is an upside to rising interest rates for some. - Mills Mobile Notary Service on 6/24/22 1:22pm |
|  ARMs are making a comeback, too, for some. n/m -  JanetK_CA on 6/24/22 1:55pm |
| 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - grapebed on 6/24/22 2:53pm |
|  Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - Mobile1/PA on 6/25/22 7:39am |
|  Break-even is term used in the bond market. Inflation - grapebed on 6/25/22 11:15am |
| Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - Yoli/CA on 6/25/22 12:39pm |
|  Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - Mobile1/PA on 6/25/22 2:39pm |
|  Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - Yoli/CA on 6/25/22 3:13pm |
|  85% of the time, I won’t drive more than 4 miles one- - grapebed on 6/25/22 4:29pm |
 | In addition to the cost of doing business, what really - grapebed on 6/25/22 3:26pm |
| Re: In addition to the cost of doing business, what really - PaigeTurner on 6/26/22 7:56pm |
| Not going to happen. Supply/demand is driving fees down & - MW/VA on 6/25/22 2:55pm |
| Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - PaigeTurner on 6/25/22 5:39pm |
| Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - grapebed on 6/25/22 5:53pm |
| Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - JanetK_CA on 6/26/22 1:56am |
| Re: 7 years ago HELOCs paid $80 for a 12-pages. Just curious, - grapebed on 6/26/22 8:04am |
| Agree Janet - PaigeTurner on 6/26/22 7:37pm |
| Re: There is an upside to rising interest rates for some. - PaigeTurner on 6/26/22 7:32pm |
| Re: There is an upside to rising interest rates for some. - Expeditor on 6/27/22 1:00pm |
