Doug Jones's (dougj) Blog

Mortgage and Lending - Mortgage Magic
I will not use the name of the company because they are back in the loan business. They were gone for a while but are back and they are a nationwide company; big company. Several years ago I was driving down the freeway near Milpitas, Ca and noticed a large electronic billboard soliciting mortgag...
Clint Eastwood was elected mayor of Carmel running on a campaign that allowed stores to sell ice cream on Sunday. That was his entire platform; he was perturbed at the City Council that actually banned the selling of ice cream on Sundays. I seem to complain about the dumb laws in my industry and ...
Ok - for a customer who is 141 years old; born in 1875 that customer can max out an FHA HECM (Reverse Mortgage) loan to $457,119.The home value limit in California is $625,500 no matter how much the home is worth. If the home is worth $1,000,000 or $2,000,000 or $10,000,000 then FHA only uses $62...
When a customer approaches me about a mortgage for a home purchase that motivation on the part of the customer is crystal clear; Get  Approval; Find the Best Terms and Conditions; Make the process seamless. The focus is on purchasing the home. When a customer wants to refinance then the reason is...
Over the years I have observed that the number one reason that stops or slows the process of a young couple from buying a home is not lack of income or bad credit but the big car payment. The auto industry in many ways really does drive (pun) the economy but as it says in the Bible 'There is a ti...
Unusual Day yesterday. The person who I made the very first Mortgage Magic loan to more than 25 years ago called me. 25 years ago  I remember that she called me wanting a refinance and I did not even have an office yet so I drove down to Monterey to visit her and her husband. I knew that she was ...
I have a loan that I am willing to hand off to any bank who can do a loan on a property with a Cistern.The purchase price is $550,000 with $110,000 down payment 690 credit score41 debt ratioProperty is between San Jose and Santa Cruz - 7 minutes off Highway 17I do not have a lender who will lend ...
I am a pretty good Mortgage Broker. Realtor, and Magician for one reason; really only one and here it is. Over the years I have made every mistake that anyone in the professions above can make and fortunately I have learned from them. As a Realtor one time I mentioned to the buyers, seller and bu...
I am your Reverse Mortgage loan officer not some celebrity on TV. Fred Thompson cannot tell you how much you qualify for; I can. Henry Winkler cannot tell you that the reverse mortgage is an FHA loan and there are certain areas the FHA appraisers focus on. Pat Boone cannot tell you that at one lo...
My word for today is De-Clutter.I spent part of last week emptying a home where the owner had passed away. She had lived in the home for 40 years and in truth there was really not much in the way of clutter. Even though, there were truck loads of items to the Salvation Army. Truck loads to storag...

Doug Jones

Mortgage Broker - NMLS 286668
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