contra costa: Well, It's a Done Deal. Bank of America has Purchased Countrywide! - 07/01/08 11:53 AM
July 1st is Bank of America's Legal Day One in the Purchase of Countrywide
It is a Done Deal. Bank of America has completed the purchase Countrywide. Now Bank of America will focus on merging the 2 companies. The Bank of America's mortgageheadquarters will now be located in Calabasas, California.
… (12 comments)
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contra costa: A Very Simple View of Our Sub prime Crisis. Chap 3. Wall Steet Investment Banks. - 06/28/08 02:00 PM
This is a continuation of my post on the sub prime mortgage crisis. There were several groups or industries that in their own way had a role in creating the current liquidity crisis , the downturn in both the real estate and financial markets. One key element in this crisis is … (4 comments)
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contra costa: A Very Simple View of Our Sub Prime Crisis: Chapter 2 - Banks - 06/16/08 02:05 AM
This is a continuation of my post on the sub prime mortgage crisis. There were several groups or industries that in their own way had a role in creating the current liquidity crisis , the downturn in both the real estate and financial markets. One key element in this crisis … (5 comments)
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contra costa: A Very Simple View of Our Sub Prime Crisis: Chapter 1 - Mortgage Brokers/Loan Originators - 06/16/08 02:03 AM
This is a continuation of my post on the sub prime mortgage crisis. There were several groups or industries that in their own way had a role in creating the current liquidity crisis that lead to the downturn in both the real estate and financial markets. One key element in this crisis is … (1 comments)
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contra costa: A Very Simple View of Our Sub-prime Crisis. Who is to Blame? - 06/15/08 11:54 AM
Introduction: Key Players in the Sub-Prime Crisis
The sub-prime mortgage crisis is an ongoing problem which continues to demonstrate itself with our current liquidity crisis. There were early warnings as early as 2000, during the final months of the Clinton administration, when Treasury official Gary Gensler noted that sub-prime … (109 comments)
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contra costa: Alan "AJ" Nisen's About Page - 06/14/08 02:25 AM
Who I AM
Demand continues to grow for qualified and adaptable Mortgage Loan Officers that can deliver results, stay accountable, and offer a high level of personal service. How do I know? Because I am that kind of Mortgage loan officer and demand for my expert can-do work ethic … (9 comments)
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contra costa: What Type of Loan Are You Qualifing For? Prime? Alt-A? Sub-prime? - 05/30/08 12:28 PM
The whole world knows that we are in a credit crisis mainly caused by sub-prime debacle. What is a sub-prime loan? What other types of loans categories are there besides sub-prime? In this post I am not going to tell you how we got into the sub-prime crisis, but will define the … (2 comments)
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contra costa: FBI Reports Mortgage Fraud up in 2007 - 05/21/08 07:29 PM
The Federal Bureau of Investigation's fiscal year 2007 Mortgage Fraud Report (which ended Oct. 31) found mortgage fraud investigations increased 47% over FY 2006, and continues to rise. The top 10 mortgage fraud states for 2007 were
Florida
Georgia
Michigan
California
Illinois
Ohio
Texas
New York
Colorado
Minnesota
Key findings by … (8 comments)
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contra costa: MORTGAGE FRAUD SCHEMES - 05/21/08 07:28 PM
Mortgage Fraud can occur in many ways. Here are a couple of Mortgage Fraud Schemes the FBI is watching for:
Occupancy fraud
Employment/income fraud
Failure to disclose liabilities
Property Flipping
Silent Second
Nominee Loans/Straw Buyers
Fictitious/Stolen Identity
Inflated Appraisals
Foreclosure Schemes
Equity Skimming
Air Loans
Occupancy fraud
Frequently this is … (9 comments)
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contra costa: Are you Ready to Lock? - 05/05/08 04:55 PM
I typically wake up between 6.00 and 6:30 am every morning, download rates and then analyzed who I can help today. If I see any rate improvement that may benefit any of my clients, I call them immediately. This is an important service for my clients because the window of opportunity is … (1 comments)
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contra costa: Do Banks Sell Their Own Foreclosed Properties? In California? Across the Nation? - 04/30/08 07:29 PM
Forclosuers, Another name for Bank Owned PropertiesAlmost every week I have a client or a realtor ask me about my bank's foreclosed properties. Where can I get the Bank's Foreclosure Property list? Or, how can I become one of the Banks preferred realtors to sell their Foreclosed Properties. Also clients often … (3 comments)
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contra costa: For Mortgages When Purchasing Your Home, WHAT ARE SELLER CONTRIBUTIONS?" - 03/26/08 11:35 PM
In today's real estate market, buyers typically have the upper hand over sellers. In this situation buyers can ask for a number of concessions including what is called "Seller Contributions".
But, what are seller contributions? What can seller contributions are used for? What happens to any seller contributions not used?Seller ContributionsWhat … (10 comments)
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contra costa: Mortgage Dynamics: Why the 10 Yr Treasury Fails as Benchmark to Track Rates - 03/19/08 01:29 PM
The Treasury has long been the benchmark for tracking mortgage rate movement, i.e. 30 year fixed vs. 10 year Treasury. Based on the market over the last couple of months, that has not happened. The folloing graph will give you perspective on why the models are not following the traditional pattern.
30Y … (4 comments)
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contra costa: Fannie Mae's Guidelines for Jumbo-Conforming Mortgages - 03/15/08 08:06 PM
There is no guarantee that the rates on jumbo-conforming loans will be low enough to attract borrowers. Rates will be set by the market; not the government, not the banks. I believe the most likely outcome will be premium price add-on to jumbo-conforming mortgage rates so rates end up somewhere between … (0 comments)
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contra costa: Dear Mr. Borrower Applying for a Mortgage - 03/15/08 03:05 PM
Mr. Borrower, Applying for a mortgage is stressful under the best of circumstances. Even experienced borrowers feel a little twinge of anxiety at the thought of taking on hundreds of thousands of dollars worth of debt. The mortgage approval process is forgiving of many things; there are certain actions or non-actions that can … (4 comments)
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contra costa: Finding a Mortgage: Ten Tips for First Time Homebuyers - 03/14/08 11:29 PM
What You Should Know in Finding a Mortgage Before Buying a Home
Before you start looking for a home, you should get pre-qualified for a loan. Banks, credit unions and mortgage bankers make home loans. The lenders like myself will take an application, process the loan documents, and see the loan through to … (2 comments)
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contra costa: Mortgage Programs for First Time Home Buyers - 03/12/08 11:00 AM
Everyone likes a bargain. Even First-Time Home Buyers! The simple definition of a first-time home buyer is someone who has not taken a mortgage interest deduction in the last 3 years. It's not surprising that first-time home buyers are beginning to take notice of current housing prices.
Lending standards are getting stricter … (1 comments)
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contra costa: FHA Loans: The First-Time Home Buyers Loan of Choice! - 03/12/08 10:59 AM
FHA (Federal Housing Authority) Loans. Remember the New Temporary Mortgage Limits:
The number of FHA borrowers has grown substantially in the last year. FHA only requires a 3% down payment. The down payment can be a gift from friends or family or can be seller credits through several down-payment-assistance programs for first-time home buyers like the Nehemiah Down Payment Assistance Program. … (1 comments)
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contra costa: CalHFA: A California First TIME Home Buyer's Prgram With Up to 100% Financing - 03/12/08 10:59 AM
CalHFA: California Housing Finance Agency
The California Housing Finance Agency's goal is to provide affordable housing opportunities to low and moderate income first-time homebuyers. This is accomplished by offering low, fixed interest rate mortgage products, along with down payment and closing cost assistance. Combining CalHFA's programs with some of the Down Payment … (3 comments)
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contra costa: The ACORN Program - Not Just for Fisrt-Time Home Buyers - 03/12/08 10:58 AM
ACORN is a National non-profit Housing program with goals to provide free housing counseling directed toward achieving homeownership for low to moderate income homebuyers. ACORN accomplishes their goal by providing one-on-one mortgage loan counseling, first-time homebuyer classes, and works with lending partnerships to obtain affordable mortgages for their clients. The mortgages … (1 comments)
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contra costa: Wheelchair Foundation and Interanational Orphan Relief Foundation Fund Raiser: The Mayorsâ€TM Charity Ball - 03/09/08 01:53 PM
The Wheelchair Foundation and the International Orphan Relief Foundation have joined together to provide mobility and relief to the orphan children of Kenya. In partnership, we are organizing a special evening of dining, dancing and fellowship to benefit the International Orphan Relief Foundation and to raise funds to help mentor and provide mobility … (3 comments)
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contra costa: Volunteerism! The Back Bone of a Great Community. Here is an Opportunity. - 03/05/08 10:19 AM
Meaningful WorkAnna's Program, a specialized program of Hospice of the East Bay (formerly Hospice and Palliative Care of Contra Costa), is seeking dedicated, caring volunteers to provide companionship and practical support for women with recurrent breast cancer. Women served reside in Central or East Contra Costa, and all services are provided … (0 comments)
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contra costa: "Green" Is the New Fad in Housing - 03/01/08 01:53 PM
Buying greenGreen is the new "HOT" fade. Manufacturers have notice this phenomenon sweeping across America. Manufactures are now refining their home products raw materials, energy use, etc so they can label their products "Green". To make a home "Green" which includes reducing your carbon footprint, a small incremental change can have … (1 comments)
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contra costa: BANK OF AMERICA CHARITABLE FOUNDATION ANNOUNCES $250,000 IN ADDITIONAL GRANTS TO CALIFORNIA HOUSING NONPROFITS HELPING FAMILIES STAY IN HOMES - 03/01/08 12:30 PM
Aid to Nonprofits in Stockton, Sacramento, Inland Empire and Bakersfield part of $750,000 ongoing foreclosure prevention effort in California
Bank of America is doing some very important work in California, as part of our ongoing efforts to address the mortgage crisis, keep people in their homes, and help working families achieve financial … (0 comments)
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contra costa: Are the Feds Fueling Inflation? - 02/27/08 11:05 PM
Fed's Expansionary Policy to Fight a Recession:Federal Reserve Chairman Ben Bernanke told Congress on February 27, 2008 that the Feds remain on the course for additional interest rate cuts, thus continuing their expansionary policy to combat recession. The Feds hope to combat recession because lower interest rates will stimulate economic activity by … (1 comments)
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contra costa: Bank of America Supports Senator Dodd's Plan to Help Mortgage Crisis - 02/26/08 02:22 AM
Bank of America backs Senator Dodd's plan to buy up Loans at a DiscountBank of America officials have warned congress that up to $739 billion in mortgages are at risk of default in the next five years, and that the government intervention is needed. This is why Bank of America supports Senator … (3 comments)
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contra costa: Moving a Parent into your Home? A Missing Tip!!! - 02/25/08 05:19 PM
My Number One Tip to Prepare Moving a Parent into your Home!I read an article this morning that included five tips (Consumer Reports Money Advisor which I have copied below) to prepare moving an elderly parent into your home. This article caught my attention because I may have to move my … (2 comments)
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contra costa: Town Hall Theatre Fundraising Gala: Ticket Available Now!! Lafayette California - 02/25/08 02:18 AM
TOWN HALL FUNDRAISING GALATICKETS AVAILABLE NOW! 5 days only - buy your Gala tickets for $75 ($10 off!). Ticket prices up up to $85 on March 1st.
Also, purchase 5 raffle tickets for $40, for your chance to win a night's stay and spa package at the Lafayette Park Hotel! You … (0 comments)
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contra costa: The Great Downsizing in Contra Costa County: Seniors on the Move!!!! - 02/24/08 12:32 AM
Senior Citizens are the fastest growing demographics in most Contra Costa cities. Us baby-boomers are just starting to get to retirement age. Now that the kids have moved out of the house, do we really want to spend all our free time cleaning and doing yard work? Do we want to … (1 comments)
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contra costa: When "The Man" (in this case lady) Comes to Collect Your Mortgage Payment - 02/23/08 02:12 AM
I can imagine adebt collector or collection agency coming to my door to ask for a mortgage payment I do not have. There has to be enormous internal emotional pressures and family trumoil. The following is about a landlord but you will get the idea.
You can find AJ Nisen on … (0 comments)
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contra costa: Mortgage Bailout? Don't throw the "Tax Payer" out with the Water? - 02/21/08 11:05 PM
You know the Office of Thrift Supervision (OTS - don't you like acronyms)? The OTS has authority over federal savings and loan lenders. The OTS unveiled a plan to help mortgage borrowers in trouble, but only those borrowers who hold mortgages with federal savings and loan lenders. The plan suggests their lenders … (0 comments)
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contra costa: Bank of America's President Floyd Robinson Announced Project Lifeline to Help Distressed Borrowers - 02/19/08 01:19 PM
Today, Bank of America played an important role in a major national effort to assist homeowners in danger of losing their homes. Appearing with U.S. Treasury Secretary Hank Paulson and U.S. Housing and Urban Development Secretary Alphonso Jackson, Bank of America's Consumer Real Estate and Insurance Services Group President Floyd Robinson … (2 comments)
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contra costa: Delinquent in Your Mortgage Payment? Don't Run! Don't Hide! - 02/17/08 07:45 PM
Are you delinquent in your mortgage payments? If you are, Don't Run, Don't Hide!
HUD and Mortgage lenders are trying to find delinquent homeowners. In particular, they are trying to find homeowners who have not returned phone calls and letters. THIS IS NOT AND ATTEMPT By LENDERS or HUD TO COLLECT or PUNISH! … (1 comments)
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contra costa: Lafayette California was Named After General Marquis-de Lafayette - 02/16/08 03:24 AM
It may or maybe not be obvious, but the city of Lafayette California was named after General Marquis-de Lafayette. Last year when the City of Lafayette celebrated the Marquis-de Lafayette's 250 Birthday, a french camera crew came to the city of Lafayette and did a Video Profile. It is kind of … (0 comments)
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contra costa: Taxes Taxes those Stinking Taxes in Lafayette California - 02/16/08 02:47 AM
Lafayette California:Taxes Taxes Taxes. No more Stinking Taxes. Or maybe we do need more taxes. We have the lowest number of police per capita, we currently have $24M in current road repair that needs to be done immediately, there are cries for more parking, senior living and serives, parks, and the … (0 comments)
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contra costa: Generations in Jazz 8th Annual Festival in Lafayette California - 02/16/08 02:15 AM
2008 Lafayette Jazz FestivalMarch 6-9, 2008
@ Bentley School Theater (directions) and the Acalanes Performing Arts Center
Click HERE to purchase thickets!
March 6th 7:00 p.m. - Rossmoor Big Band w/ special guest performance by Mary Fettig and the Bentley Jazz Ensemble with Brian Pardo and Mic Gillette March 7th 7:00 p.m.- Jamie … (0 comments)
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contra costa: La Finestra, One Great Italian Resturant in Lafayette California - 02/16/08 12:25 AM
Yesterday was Valentine's Day. Sorry to say, I did not get my sweetie RED ROSES (she doesn't like roses anyway) but I did take her out to one of our favorite Italian restaurants, La Finestra Ristorante in Lafayette. La Finestra serves Sicilian or Sicilian influence dishes. Boy did we have a great … (0 comments)
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contra costa: There Is HELP for the Delinquent Borrower! - 02/14/08 06:42 PM
I have talked with too many borrowers in the last several months that are or are about to go into delinquency. It is not an easy conversation. Most borrowers do not know what their options are. I think that walking should be a last resort. I am pretty sure that all … (7 comments)
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contra costa: Don't Make Foreclosure Worse for Yourself. - 02/14/08 06:15 PM
Hey, DEFAULT is a bad situation but don't make it any worse for yourself. I talk with too many borrowers facing mortgage default. I am not an expert but I do try to steer them in the correct direction. Here are a few pointers to think about. HUD has put together … (3 comments)
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contra costa: What is Mortgage Servicing? - 02/11/08 06:49 PM
Mortgage Servicing:
Mortgages [1] are typically packaged and sold to either a GSE (Government sponsored Enterprise, i.e., Freddie Mac or Fannie Mae) or to a Warehouse Lender. But when a mortgage is sold, it is typically divided in two parts:
The mortgage note itself, Mortgage servicing rights. I have already talked about mortgages, … (0 comments)
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contra costa: New Contra Costa Hot Line for Social Services!!!!! - 02/11/08 01:28 PM
The New 211 Hot LineBeginning today, a new hot line lets anyone in the Bay Area who needs help with food, housing, employment or health care, can dial 211. This service has is slowly rolling out to all the bay area communities. There are six Bay Area counties who now have … (1 comments)
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contra costa: Focus On Seniors: A Day Long Symposium On and For Seniors - 02/10/08 01:49 AM
The demographics overall but especially in our high cost areas are showing the average residence is getting older every year. Yes, Us baby boomers and our parents are aging. This statistic is very dramatic in our high housing cost communities because our young cannot afford to move into towns like Lafayette, Orinda, … (0 comments)
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contra costa: What or Who Are Fannie Mae and Freddie Mac? - 02/09/08 07:43 PM
Freddie Mac (FHLMC) and Fannie Mae (FNMA) are two housing government-sponsored enterprises (GSEs). These GSEs were chartered by Congress (The Federal Housing Enterprises Financial Safety and Soundness Act of 1992 or more commonly known as The GSE Act) to create a secondary market for residential mortgage loans. They are considered "government-sponsored" … (0 comments)
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contra costa: Do You Want To Know How Mortgage Rates Are Determined? - 02/08/08 05:46 PM
No one simply "sets" rates. Rates are primarily determined by the market through supply and demand. The market buys and sells bonds or other debt instruments all the time. The United States (US) to fund the government has the Treasury auction debt (typically the 5, 10, and 30 year US Treasury … (3 comments)
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contra costa: CalTrans Highway 24 Work Has Begun - 05/21/07 11:38 PM
The Long Need Highway 24 Rehab Has Begun.Caltrans has bengu their $41.5 Million dollar Rehab project. There will be plenty of Detours and Ramp Closed throughout this project which is expected to be complete by 2009. This will be a noisy project. Both Orinda and Lafayette residents near the freeway will … (0 comments)
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contra costa: The TownHall Theatre Company Presents - 05/21/07 11:10 PM
"Let's go To CasaBlanca" May 26th to June 23rdThis is the much anticpated sequel to Let's go To the Movies. Director Kevin T. Morales notes that this "show is crammed full of songs that ere made famous y films or featured promeinently in them." There are plenty of laughs. I plan … (0 comments)
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contra costa: The Walnut Creek Farmer Market! Every Sunday Year Around. - 05/21/07 12:28 PM
Fresh Vegitbles, Fruits, and Flowers Every Sunday
Event Name: Walnut Creek Farmers' Market
Description: What's In Season for April & May: Apricots, Artichokes, Asparagus, Avocados, Cherries, Cilantro, Cucumbers, Green Garlic, Fava Beans, Lettuces, Onions, Peas, Radishes, Spinach Strawberries
Event Time: 08:00 AM - 01:00 PM PST
Location: Walnut Creek Library Parking Lot Broadway at Lincoln Walnut … (0 comments)
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