Growth & Grace

Wesley Knight 0:00
This is a Kun V studios original program. The following program is underwritten by Crawford management group, Harris capital Mortgage Group, Tiffany Lloyd consulting and Chris glow, and does not reflect the views or opinions of 91.5 Jasmine Moore, the University of Nevada, Las Vegas, or the Board of Regents of the Nevada System of Higher Education even

Music 0:21
better than I was the last time, baby, we back,

we back and we back and we back and we back and we back and

we back. Hey, hey, hey

Tiffani Lloyd 0:47
everybody. Welcome to our show today. Where you at? I'm here. Hey,

Leaha Crawford 0:53
you're listening to growth and grace. I am Leah Crawford. I'm

Tiffani Lloyd 0:57
Tiffany Lloyd,

Leaha Crawford 0:58
and we have some fabulous guests in the studio with us today. First of all, I want to give this is my my sweetie pie, who I love dearly. Loved her since I've almost known you, since I've almost since I've been in Vegas. Now it's been almost 20 years. It's been almost 20 years. Almost 20 years. Uh, Miss Jocelyn, I was can you please say hello to everyone? Hi.

Tiffani Lloyd 1:18
You come up in almost every show, by the way, almost every always giving you some type of shout out with the guests. The fact that you are here, it says something,

Leaha Crawford 1:29
oh my, it does, because that's the energy I can tell you. Talk about a wealth of wisdom, guys. And everyone knows when you have that, that wealth of wisdom in your family that you can just call upon, and they take the time out to pour into you. You are blessed. And I want to openly say, Jocelyn, thank you because you poured into me over years. Oh, man, decades, I

Tiffani Lloyd 1:48
mean, and you've poured into me from the womb. Yes, we

Leaha Crawford 1:54
want to thank you openly on the air. And we also have Miss Dianna dykes in the studio with us today. So

Tiffani Lloyd 2:00
excited to have this conversation. Yeah, I'm very excited. I'm very

Leaha Crawford 2:04
excited. So Diana, first of all, your company is ml mortgage, correct? ML mortgage? Why mortgages?

Diana Dykes 2:12
Mortgages? Because, years ago, I'm from Atlanta, okay, okay. And years ago, when I was going to college, I had an aunt on my father's side, and I said, I'm getting bored, you know? I want to do something. What I wanted to do is I was getting my financial degree and to help pro athletes. Okay, but pro athletes have more credit problems and family problems than you can imagine. Okay, so I had a few clients as I was going to college, and I said, You know what? And she said, Just come help me. And she was an underwriter. She was a mortgage underwriter, and I got to be in front of the office, and I got to look at everybody, talk to everybody, see what they did, how much they made. I got so excited. I said, I could do this. I like doing this. This is great. I said, I want to do this. So started there, 28 years ago. All right, okay, so been all over the place. My career had just enhanced. I moved to California from Atlanta and enhanced, and I work with a mortgage broker in Oakland, Oakland, California, I moved to Oakland, California Bay Area. Lived there for a while, and then countrywide came after me and said, We need you. We love your personality. We need you. And they really wanted to open up more than minority markets back then. 28 years ago, my first client was African American, 800 FICO score, and they turned her down, and I was able to get her alone. Okay, so that really I was so enlightened, and I said, I'm gonna do this. Okay, okay, I'm gonna do this. I'm gonna help the less fortunate. So I studied low income housing. I studied grants. I studied First Time Home buyership, and I work with higher end I've done athletes. I've done all many people, from first time home buyers all the way to rich billionaires. But the first time home buyers is a heart for me, because they cry in my office. They felt like nobody could give them a chance. Nobody gives them a direction. They walk into a bank and the bank says your FICO score is this. No, you're declined. They don't give them a road map. So I have, for many years given road maps and teach generational wealth and expos, and have done just great and love it. I still really do love it. And

Tiffani Lloyd 4:42
that's that was literally my question as you began talking, I was like, did you start profit or passion? And it sounds like you weren't sure at first, and you fell into your passion through the profit.

Because many days, yeah,

many days, okay,

I live. No.

Laura, and

Diana Dykes 5:01
if they would just listen and follow the path? Yes, okay, many people, especially in Nevada, if they would have bought a home five, six years ago, and and listen to the subject with the expert matter, just like Miss Crawford, she's amazing. I love it when I listen to on radio. I said, I want to meet that woman, okay, and both of you, because of the passion that you have with taxes to help people, that's the passion of all the programs that I help. I've been doing this 28 years. Okay? The challenges is when people say, Well, my friend of a friend told me, I can get a 3% interest rate in this market. I said, Sign me up. If you could get that, Sign me up. It's all over the news. The feds control it. Secondary marketing controls it. Okay, so that is my passion to help people. Okay,

Tiffani Lloyd 5:53
so your passion is, you said, first time home buyers, let's talk about it. Sure. So you start, because I have some questions. Now, I thought I didn't, but I got

Leaha Crawford 6:05
questions going on. And even Jocelyn got engaged because y'all, y'all don't, y'all can't see her. But she said she only she crocheting me something I really need, something pink and green the yarn. She stopped. No, but she did. She became totally engaged. Came up to the mic question, but

Tiffani Lloyd 6:27
my question's for you, but it's not about that. It's Yes, it's related, related. When you were talking about the FICA score, the woman had an 800 FICA score and she couldn't get a house. Was that? Why

Diana Dykes 6:39
am Am I allowed to say on the radio? You can say 28 years ago, African American and she worked at a bank, okay, so I have to give credit. When they hired me at Countrywide, they said that we needed you, and I went over obstacles. Okay? The obstacles of walking into a boardroom, okay, as as being a biracial girl, okay, like Kamala, right? But you walk in and people are doing this, you know, like, but my knowledge overpowered everybody. My knowledge. I didn't care who got my way. I wanted to help people. I didn't care if they were green. I wanted to help you get into home ownership. I wanted to make sure that you got your keys. I wanted you to make sure and understand why home ownership and generational wealth is very important, whether you be a first time home buyer, middle class to a millionaire, and 28 years ago, it took some hurdles. Okay, they sent me to Fresno, okay? And when people were chewing straw, I said, I don't know if this is going to be my place. Okay? I'm from Atlanta, you know, but you I saw for the best vegetables and fruits I could ever get in Atlanta, okay? And I'll never forget this car occasioned me. And walked in my office, and he says, I'm here, and I heard you were the best to do lending. And you know, we're going, after all the farmers and all this, and I'm sitting here going, What does he know about, you know, these poor farm workers, Latinos and everything, they were living almost like slavery days, and when I went and walked the fields, just tears came down my eyes, and we worked together. He had two Latino women and African American women, and my staff and I, we did it, and he built the homes, and I got the loans for them, and we became one out of six homes in the United States, okay, that's incredible. And Countrywide, and I handled I had 200 employees. I was on fire. I love, I love. That was the best time of my life to really help people. And when we did, I had so many tamales and everything in my office. You know, it was amazing. But to answer your question, first time homebuyers ships, because people really they, they appreciate what you do. They they work a middle class person will shop you to death. Okay, there's 100 different lenders, just like there's 100 different tax people. You could work to the end. And we're talking about sometimes people that are close to you, you fix their credit, you fix everything, and they're, you know, the other man will go, Oh, I'll give you an eighth. And they go that way. Well, of course, they get Christmas in October because I fixed everything. So that's my specialty, to really give that road map to people.

Tiffani Lloyd 9:41
Can we talk about the roadmap a little bit like, what does it look like for someone who's coming to you? They've never owned a home, they're gun shy because of whatever the reason. I give you a personal experience right now, I am going through a divorce. I will be purchasing my next home as a single. Woman,

Diana Dykes 10:00
we have my my information,

Tiffani Lloyd 10:04
so we have like, a template to grab up so someone like me, who's usually an independent contractor, who does have worked for a university, but has independent contract work on the side, I'm giving you this whole scenario, sure, but you know, this is good, and going through a divorce, and then, boom, I come to you, and I'm like, I'm renting right now, but I think I want to buy. What is the first thing you say to me, Well, you

Diana Dykes 10:29
want to buy because you've you've owned a home, right? You're selling, correct?

Tiffani Lloyd 10:33
No, no, no, not currently. Right? Not currently. So in my marriage, and this is a whole story within itself, I was a stay at home mom, right? My husband carried the mortgages were on all of our homes before we split, we rented our first home. We've never lived in a rented home until now. Okay, we split, and now we're going through a divorce, and so all of the houses were in his name, not in my name. So how does that work? Would I be a first time homebuyer? Yes, you are. Yeah.

Diana Dykes 10:59
How that works is all those homes remain with him. You get none of the homes right, correct, okay, so we would just need to see the divorce decree, okay? And you do become, because now none of those homes are yours, right? You become a first time home buyer, especially with children. And then there is down payment assistance programs. They have changed, okay, because that's my specialty as well. Down payment programs used to be grants. They're not grants anymore. You have to stay in your home a certain amount of years. Your FICO score can be as low as 600 and I can get you some down payment assistance money. Yes, ma'am. Okay, as far as that road map goes, the quicker that you can get me your documentation, the quicker I can get you qualified. I say the 2222, IDs, your social security, driver's license, two pay stubs, if you don't have pay stubs, two tax returns. And you're working with a specialty here. So the tax returns have to show some income. Absolutely. A lot of people are Uber drivers or doctors or lawyers that come in my office, their schedule C's or their business tax returns, their 1065 always show losses because they don't want, you know, right? They won't pay the IRS absolutely okay, which is okay, yeah, but they have expenses. That's when I call Miss Crawford and say, Okay, we need to work something out. Okay, to show that they have income, if you're that's the road map. Got it? Okay? I'm working with a pastor right now, right? Okay, the church is paying him. He didn't file his tax returns in four years because he's been too busy being a pastor. Okay, so I said, he's in LA, okay. And do you do California? Do you guys do California? He's in California, okay? And I said, you need to first get with a tax person. We need to get your tax returns going, and you need to show you want to $800,000 house. How much is the church paying you? And then I give them that formula, okay? Just like I would do with you, would sit down with you and say, Miss Tiffany, this is your road map, and follow it. Some people do and some people don't. Some people take home ownership and equity wealth and generational wealth, seriously, okay, just like clients that bought a house six years ago, now they're selling their house because they have $150,000 cash in their pocket to buy another home. Okay? No, CD No, no, IRAs, no, nothing would have given you that in a couple years,

Tiffani Lloyd 13:32
I feel like I've been dominating the conversation. No,

Leaha Crawford 13:36
you see, I'm sitting here because I'm here. Let you go. I'm sitting here being quiet. Well, you've been listening to growth. I am Leah Crawford and I'm Tiffany Lloyd. We

Tiffani Lloyd 13:46
have special guests in the in the in the studio today. Yeah, I

Leaha Crawford 13:49
am, I look so I like first time home buyers too, because it is especially people that want the instruction that's going to follow the instructions. Because home ownership is everything it is. And I know for me, I grew up in a house, so renting was kind of uncomfortable, very uncomfortable, and I began to get my flow when I purchased my house. And I'm like, I'm cool, I can stay here. I don't even, I don't even, I know how much equity, but it's not even important, because I bought my house in 2012

Diana Dykes 14:19
and you were smart. Okay, there are some people now that are having hardships, right? Okay, and they don't know what to do. And if I may, touch on Senior Citizens for a moment, okay, senior citizens are having hardship. They're calling me and they're coming to my office, and then I pull up the comps on their house. And I'm like, you've got over 200 300 $400,000 in equity because they bought their house, you know, 20 years ago. But they don't know what to do because they're living on a fixed income, Social Security Income, or a fixed income, you know, they don't have. A pension. They're like, barely making it, you know. And I'm like, How are you making it? You know, once I give them their roadmap, I said you're if you don't do something, you'll lose that equity.

Leaha Crawford 15:10
Well, let's talk about reverse mortgages.

Reverse mortgages is very interesting. What are the so, how would someone even start the process to get a reverse mortgage?

Diana Dykes 15:19
Okay, the first thing they would do, they would call me, you only have to be 55 but the older you are, the better you are on a reverse mortgage. I have my aunt in reverse mortgages. I'm in a reverse mortgage. I want to live with my equity now, not when I'm six feet under or cremated, or whatever you want to do. So that equity, I take, it's not like a forward mortgage, a regular mortgage that I would help you, first time home buyer. So reverse mortgage, basically, I take the formula, I put the formula in, and I pull up comps, and then we put the equity value in, and then we see what you can get out. I'm helping. She's 84 years old right now, okay, she was about to she didn't know what to do. She almost couldn't have food on the table. She had over 350,000 equity in her house. Okay, I'm gonna do with the formula of a reverse mortgage at closing. She's gonna get 150 cash in her hand, tax free. She's now going to be able to put her granddaughter, you know, help her granddaughter to college, and then a year later, she's going to get 80,000 Okay, so it's a formula. So how that works? It just depends how much equity you have in your home and how old you are, right? And I do the formula, and I can do it in about 10 minutes, and I give you a proposal. Once you get that proposal, then you have to go through a HUD counselor. The HUD counselor is about 30 minutes because they said, Yes, we've seen the proposal. And it does make sense. Some people have equity, and they get the cash out, free cash, and you could do it in four years, as your equity grows. What do you mean by that? Well, the equity pays for your mortgage, but your equity continues to grow. For example, my own mother in Philly, she's been in her house, what 30 years? She hasn't made a payment in 20 years. If she sold her house tomorrow, she'd get 80,000 cash in her hand, and she's living with her wealth. Now you can have a life insurance policy. Get a different life insurance policy. Well, what happens if I die is that, you know, the banks want my help. No, that's a myth. Okay, I want you to talk about that. That's a myth. That's the myth. That is a myth. That's why I say talk to the specialty of people. Okay, specialty, when a person gets the reverse mortgage, they put a beneficiary on there. You can have two, three, all your children, and you could put what the division is in the divide, okay, so, for example, you have two, two siblings, okay, or two children. It's a mother. She passes away. She the beneficiary is they're her two children. They have a year to refinance it or sell it, okay, okay, and they need to definitely. And I tell everybody right now, I'm doing a young man in Missouri, you know, and I said, You need to have a will, and you need to have a trust, okay, okay, but if you even didn't have that, and you were a beneficiary, and your two children, and they were cool with the how it was going to be divided, you're good, you have a year to not make a payment or sell it. Or if you're old enough, you could do a put it back into a reverse mortgage. Wow,

Tiffani Lloyd 18:30
yeah. So the the education is there every step of the way, so they're not just this reverse mortgage and then it's left on their own account. The bank's not

Diana Dykes 18:40
going to take your house. None of that, the myths even coming to get a mortgage. Okay? You know, don't listen to your friends of a friend, unless, unless they're specialty, yeah, no, she's laughing, because that's a truth. It's a truth, right? I mean, how many people walk in your office Miss Crawford and said, Well, I know I can get money back and you look at him like you're crazy. My

Leaha Crawford 19:05
clients know better.

Tiffani Lloyd 19:07
Get to know you.

She fostered that.

Diana Dykes 19:14
That's that's where I'm at in my career, because the last couple years have been very challenging because people don't want to listen, or they feel I'm gonna fix like I'm the cleanup woman, right? You know, you kind of are, yeah. I mean, we are, you know, you kind of are, yeah.

Leaha Crawford 19:31
So you've been listening to growth and grace, because this is the good No, this, I told you, this is the good conversation. Good because reverse well, you're listening to growth and grace. I'm Leah Crawford. I'm

Tiffani Lloyd 19:43
Tiffany Lloyd, and

Leaha Crawford 19:44
we have Diana dykes in here with Miss Jocelyn olds. I can tell you this though, there are a lot of myths out there about reverse mortgages. Very much so, and I know so I have some friends that are living with their parents in a reverse mortgage. And honestly, they love it because. Use no mortgage payment, correct? And it allows them to live, to live, to live, to live, you

Tiffani Lloyd 20:05
know, right now, yeah, living right now come

Leaha Crawford 20:09
and it doesn't matter what your income is, you know, you have the reverse mortgage, so you're living without paying a mortgage, right? And it's like, it's incredible. It is. Think about it. It's not, I mean, you hear the military, oh, no, you don't want to do that. No, I've heard that.

Diana Dykes 20:22
That was 3540 years ago. You may have enough equity to put your taxes and insurance included in that. Okay? If not, they're just going to make sure, like, your social security or your pension can pay for your taxes and insurance. Okay, okay, and even if you're late, you know, like I've had, I'm the other woman I'm working with now. She's 78 she had a lot of lates. We had to really do a lot of letters, okay, but she got sick. She was in the hospital, you know, she got sick. And how do you, you know, keep up with things when you're in a hospital for 30 days and your daughter got sick. It was just a family debacle, okay? And I sit and care, and they feel that okay, I'm not just I care.

Tiffani Lloyd 21:07
Ever felt the need to share my personal experience with any more wonderful ever that I've ever met and oh, she might be my girl

for you.

Okay? So, but I have to ask my question before we run out of time.

Leaha Crawford 21:24
Can I hold the first of all, let's get a number, because to contact Miss dykes is 702-208-6381 again, 702-208-6381 I want to touch on the class. I want to talk, to talk about the class too good to

Diana Dykes 21:41
ask a question. And I want younger people to you know, a lot of times young people feel like they can't get into something. Don't think that, if you're paying right now, a one bedroom apartment in Las Vegas is 1600 a month. Yes, what? Yes, it is. It is. It is my 78 she's 78 she makes phone calls for me. Okay, it is 1600 she's paying 1600 a month because she wants to be in a nice area and everything. But it's a two bedroom. Is 2500 if you're going to take that, get the road map, even if you're in college, you know, let's get the road map going, and you do their taxes, and we get the plan going and the road map going.

Tiffani Lloyd 22:23
So when we're talking about home ownership legacy, building equity for generations to come, right, we talk about that in every area of life, right? My question is, what is the best time to buy? We're right now in election season, right? And we know that the voters we are in an election freeze, and that freeze is we're not going to do anything until after the election. So I believe that's what's helping to slow the market as well. But what I'm being shown is that the prices are still going up. So what is that all about? Diana? You

Diana Dykes 22:59
know, that's an excellent question. It's been very trying for my career. This is I was telling a lot of people, this has been the most challenging two years and 2008 we knew the market have fallen. Secondary marketing was putting out. They were called Nina loans, no income, no no assets. So everybody, you know, a bartender, would have 10 homes, because whatever you put on the application, I never did those type of loans, because I knew it was going to come to one day that turned the market upside down, and then the housing values went down. But then nobody had money to buy anything here, the rates are up and the housing market values are up. Okay? So people are like, What do I do if you can qualify now get in a home, once those rates go down, you can refinance. But why are you going to kind of follow everybody? Because once the rates come down, then everybody is going to go buy a home. And again, like two years ago, there were 2030 offers, and people were paying 4050 that was rebound. My clients will come to me and go, should I take my for all my 401, K and pay 20,000 above praise value? I said, Absolutely not, absolutely not. That is called greed. Don't just wait. Okay, this market's going to relax and it will stabilize. Now, did the market crash? No, it's not going to crash. It's not going to crash again because secondary marketing put in the feds, they put too many measurements in place for it to crash. You know, we're

Tiffani Lloyd 24:36
in studio with Diana dykes from ml mortgage today and Miss Jocelyn, oh, is that five minutes

Diana Dykes 24:47
as she's crocheting something beautiful over there, you got something you want to say

question for Leah, okay, and I just want to disrupt this, because it was necessary information. My bonus, sister has a house in California. Mm, hmm. And and trying to process that, by the way, San Francisco, the goal is the land is gold. Yeah, land

Leaha Crawford 25:05
is gold within gold, gold. But what she San Francisco, what

Diana Dykes 25:09
she found out is, and dealing with the attorneys and all these people, she says, I need a tax consultant, right? They do wait a minute, not necessarily a tax accountant, because of who helps me understand living in the gray, because wealthy people live in the gray. And I thought about you when I heard that.

Tiffani Lloyd 25:28
Well, it Well, I'm

Leaha Crawford 25:29
glad you said that, because that's tax strategies. So in talking about strategies, you lay out for people, what are the different options? Right? Because when you talk about owning land, how is it owned? What are the consequences and repercussions of the ownership? Is it in trust? Is it in your name? Did you inherit it? What's the basis? And it's a whole lot of questions, and you really have to dig in. So it's the console part of what we do. And we do tax planning for people and release it down. And when we work with attorneys, because attorneys will have a different perspective. I prefer tax attorneys because they're very versed in the code, and if I'm missing something, then we can basically brainstorm and figure out what is the best plan. But those plans aren't cheap. I mean, aren't they aren't, they aren't. And what we found is a lot of people don't understand the value in them, but our clients that do, they end up paying less in taxes because we've structured their stuff in a way where it's allowable, it's in the code, it follows certain protocols. And you have a roadmap, a different type of roadmap, right? And we, you know, we had a conversations, but all over. I mean, San Francisco land is gold in Washington, DC, land is gold in New York City, land is

Tiffani Lloyd 26:45
gold. All I heard was, next time Auntie is in town, she and Leah need to have a conversation. They need to have a go ahead. We

Leaha Crawford 26:51
just have a conversation and talk about it. But it's also too when you're talking about tax planning or even with Diana's road map, this is a place where you got to be vulnerable and ready to tell the truth exactly what you work

Tiffani Lloyd 27:01
on that part, because people will come and

Diana Dykes 27:10
you know that that's what you

got to tell find out. This is what, what I tell them when they sit down with me. I said, Look, get comfortable, or on the phone or zoom. I am your mortgage doctor. Yes, I need you to tell everything. I'm not here to judge you. So tell me everything. A divorce paid child support. One guy didn't tell me he owes 150,000 in child support. It's gonna come up, you know? And I said, Sir, you are 100 she's wrong. I don't want to get into that, but all I'm saying is tell me, because I found some women to be wrong, right? So tell me the truth, right? I'm your mortgage doctor, and I'm here to help you. And care big banks will just decline you. We get a road map. But

Leaha Crawford 27:55
that's the other thing too, though, it's like with this market, because there are so many people you don't know, you may qualify and you don't have a conversation.

Tiffani Lloyd 28:02
That is so because you are because of what you

hear, educated French, if you're not, am I exposed? You all know

you on Tiktok? Well, that's Tiktok is telling you. No, no, no, no, don't

Diana Dykes 28:11
listen to Tiktok. You're here.

Leaha Crawford 28:13
We are ending. We are ending this. We're ending the show. And we this growth in grace. This has been amazing. This has been an amazing show. Diana, real quick. Tell us about your Expo that that's coming up your next Expo.

Diana Dykes 28:25
You know we're gonna have them every month. Okay, okay, Expo, okay, we're gonna have them every single month at Expo. What is an expo? We have a tax specialist. There we have an accountant. There we have the tax accountant. We have warranty. We have insurance, we have an appraiser, we have an inspector, and then the lender and escrow and title. We have people that can sell their business, okay? We have now social media business lending. We are making that like it's a one stop shop on my expos. Okay? The next one will be after the holidays. Okay? And we're actually, we're scheduled to have one November 2, but I gotta, I wanted turkeys there to give away. Okay, that's not coming through, okay. But anyway, and Miss Crawford will be at my Expo. Okay? She's my tax specialist. Oh, she's gonna be there. Yeah, she is my tax specialist. So we it will be after the holidays, and then we will have social media, because we have a new social media out for business for Nevada, and we want to come and interview you ladies. Got it, okay? So we want to set that for the next

Leaha Crawford 29:36
advertised. Alright, well, that ends our show for today. You got it? We got it. We gonna keep and we will promote it for you. So if you so if you give me the information,

well, everybody,

it is the fall. Dress warmly. It is beautiful weather. Oh, God, I am loving Vegas. Take care of you until next week. Have a beautiful weekend of peace and blessings. Bye. Be

well. You.