I have offered restaurant reviews for my readers in the past, but this time, I have a guest reviewer, my son Steven that reported on a recent performance of the Eugene Symphony at the Hult Center as part of his school work. I thought the report was excellent and gave me a real feeling of being in the audience. I convinced him to let me share it on my blog. So here is Steve Chamberlin’s report on Beethoven’s Fourth Concerto for Piano. Enjoy!

The Arrival

I attended the performance of Beethoven's Fourth Concerto for Piano at the Hult Center in Eugene. I chose this performance for my first classical concert experience because I really had no idea what to expect. By choosing a professional performance, I felt my odds of actually liking the performance would go up significantly. I was not disappointed.

Originally I had intended to take my wife so we could have a 'date night', but due to a work conflict, I ended up taking my seven year old daughter. My daughter enjoys the 'Celtic Women' performances so I was hoping she might enjoy a live concert. As it turned out, there was only one other child at the performance. I think having the two children in the audience brought the average age of attendees down to about 65 years old.

We arrived at the Hult Center a little early in order to have enough time to find our seats and to have a look around the center before the concert. I purchased box seats so I would reduce the chance of disturbing anyone while I took notes during the concert. What I did not take into consideration was how high these seats are above the audience. Once I found our seats, it took a few minutes to get over my fear of heights. My daughter, on the other hand, loved the seats and immediately went to the rail to look over at the rest of the audience. We settled in and waited for the performance to start.

The Performance

As we sat waiting for the concert to start, the orchestra was busy tuning and reviewing the music they would be playing that night. What a cacophony. The sound was everywhere. I tried to focus on a couple instruments but it was impossible. It was like a runner preparing for a marathon, all the players warming up their muscles and getting ready to play for the next couple hours.

I looked away for just a couple moments and everyone in the orchestra except the string section had disappeared. The lights dimmed and I thought, 'Finally we are going to start.'. I was wrong. What came next was a commercial from the President of the Hult Center acknowledging the commercial sponsors of the nights performance. Did I really just pay $88 dollars for a commercial? I was not impressed. After the commercial, she introduced the Conductor who came out and presented yet another commercial for upcoming events. This is not going well and I started wondering what I just wasted my money on. Finally the commercials are over and both the President and Conductor leave the stage.

The next person to enter the stage was a violinist who was greeted with cheers and applause. She acknowledged the crowd and took her seat. Following her was the Conductor, again greeted by applause and cheers. He stopped to acknowledge three people, first and second chair violin and what I assume was first chair viola. This just seemed odd to me for some reason, why just those three people? He took his place on the podium and raised his hands. What happened next was a complete surprise.

The bows came up and took their first draw across the strings. They had me at hello! The sound produced was, to say the least, awe inspiring. Being able to compare the dissonance of the warm-up with the powerful consonance of the opening note was just awesome. I instantly forgot the height of the seats, the $88 dollars I paid for the commercials and just enjoyed the feeling of awe that rose through my body as the strings began to play 'Fantasia on a Theme'.

This was a great opening piece. The sound was playful and vibrant, consisting of only the string section. All of the instruments seemed to be talking to each other, either as group or individually. Both my daughter and I enjoyed the energetic chatter between the first chair violin and viola. The piece wrapped up with a resounding crescendo that was met with much applause and well deserved hoots and hollers from the audience. Being able to see the complexity of playing the music combined with hearing the sounds produced really made this performance well worth the price of admission.

The second performance started with another surprise as the Conductor introduced the composer of 'Second Concerto for Orchestra', Steven Stucky. The introduction gave way to a short Q&A between the Conductor and Mr. Stucky about the music we were about to hear. Apparently the title of the piece was lost on me at first. I did not realize that concertos were typically written for specific instruments and not for the whole orchestra. Mr. Stucky explained that he wrote the piece to include all of his friends in the LA Philharmonic Orchestra with the theme being friendship, fun and love.

The Conductor's next question filled my head with the sound of a record player needle being scratched across the record violently. He asked Mr. Stucky to explain how the audience should interpret the music we were about to hear. Why would he do that? I wanted to experience the music from an 'Unlistening' perspective. I did not want someone telling me how to hear the music. Thankfully Mr. Stucky quipped, “Music is like a joke. If you don't get it, I can't explain it to you.”. Great answer! Mr. Stucky did point out that in the second movement he wanted to play a game with his friends throughout the orchestra but left it up to the audience to discover and interpret the game.

The piece started with more or less of an introduction of the orchestra. The 'Overture' began by introducing each section of the orchestra, moving from left to right through the strings, into the brass and woodwinds, percussion and finally the piano and harp. Once everyone was playing together, the movement built to an abrupt end signaling the start of the second movement.

Surprisingly, about one third of the audience responded with applause! Wait a minute. The audience is supposed to wait to the end of the entire concerto before applauding, right? That explains why the other two thirds of the audience responded with grumbles and gasps. This was noticeably awkward for the Conductor and orchestra. Yes, I laughed to myself and thought 'Whew. I'm not the only newbie here.'.

The second movement started and I began searching for 'The Game'. To me it was not as simple as someone might think. It took listening to the entire piece to form an idea of what Mr. Stucky was trying to accomplish. I found it odd that throughout the piece we were treated to some non-typical solo's. I never expected to hear a bassoon or a french horn or even a xylophone solo in a classical music piece, but they were there. In between the solo's, there was a lot of 'dream sequence' flute playing which seemed to be building in dynamics throughout the piece. Eventually, everyone played together in a what I can only describe as a crescendo to beat all crescendos, or so I thought.

To me the game was more than just bouncing a ball around the orchestra. The game incorporated not only instrumental sound but spacial arrangement. The sounds produced not only a unique arrangement but a spacial visualization to the music. Those odd solo's are there for a reason. They allow your ear to see the music as it moves from one place to another, bridging the hard boundaries between the sections. The game was like being only able to only hear a tennis match as the ball moved from side to side, front to back and sometimes all places at once.

As promised during the Q&A, the finale was a “fasten your seat belts” kind of performance. The sound was everywhere, very fast and very loud. The ending crescendo of the second movement paled in comparison to that of the third. A very clear and distinct ending to a memorable concerto which received appropriately timed applause, standing ovations, hoots and hollers and I even heard some yelling 'Bravo!'. Mr. Stucky returned to the stage to receive the praise and even some flowers while acknowledging the performance of the orchestra and Conductor.

Time for the intermission. My daughter and I ventured to the lobby to stretch our legs and get something to drink. It was amazing to me how many people stopped her to ask if she liked the performance. Being one of the only children in the audience, made her a bit of a novelty and people could not get over how well behaved and attentive she was to the music. Being a girl, she enjoyed the attention along with some apple juice and a cookie during the break.

We returned to our seats to find a completely different looking stage. The stage had been set for Beethoven's Piano Concerto No. 4. Only the strings remained with the exception of the kettle drums and of course the piano which took center stage. First violin joined the rest of the strings and played a quick tuning note for the rest of the strings to follow before taking her chair. The Conductor was the next to come out followed closely by the featured pianist Angela Hewitt. Both were met again with much applause and excitement.

As the Conductor raised his hands, there was an almost deafening silence in the hall followed by the strings section playing as one voice. The first movement progressed and it took some time before the piano joined in. I was beginning to wonder if she would ever start playing but then she did.

Generally I am not a big fan of piano music but in this case it was very pleasant. I found myself distracted by what I think are over exaggerations of movement while she played the piano but she actually seemed to be lost in the music. Throughout the three movements she would finish a large section of music and then look at the orchestra as if to say, “Did you hear that?! I rocked it! Now keep up!”.

Even though I am not a fan of the piano, I can appreciate the amount of talent Ms. Hewitt displayed. Moving through the complex notes and steps and she worked her way from one end of the piano to the other was simply amazing and she truly seemed to be enjoying the music.

As expected, the second movement claimed my daughter as she fell asleep on my lap. I almost expected that to happen as the concerto followed the fast-slow-fast format. She woke up as the vivace pace of the third movement kicked in and rounded out the concerto.

Again, the audience was on its feet as the last note played and Ms. Hewitt stood to receive the applause and acknowledge the Conductor and orchestra for an excellent performance. But when do you stop applauding? This was the question I began to ask myself after Ms. Hewitt left and returned to the stage three times. Apparently the answer to the question is; when the performer starts the encore. Ms. Hewitt treated the crowd to an encore performance. I have no idea what the name of the piece was, but as expected she rocked it. After which she returned to the stage two more times for applause and flowers. I had no idea the symphony could be filled with so much energy.

The Breakdown

Overall it was a fun night. I was very surprised at how much I actually enjoyed listening to the music and experiencing the live performance. Being able to see the amount of talent it takes to play the instruments and the percussionist running their butts off back and forth between various items to bang on, helps me to appreciate what it takes to not only perform something like this, but to even compose it in the first place. Taking all of the individual pieces into account and coming up with a single coherent sound is amazing.

So where does this experience leave me? I will definitely attend the symphony again. We are planning to attend next months performance of Beethoven's 5^th to include Handel's “Royal Fireworks” and Mozart's Mass “Coronation”. Although I enjoyed the symphony with my daughter, I think this time I'll take my wife for what should prove to be a very memorable date night.

Get all of the current information about FHA Reverse Mortgages for Senior Citizens right here at Oregon Reverse Mortgage Info. We are striving to get the word out to Seniors about the FHA Reverse Mortgage program. Although it isn’t right for everyone, and we won’t force it on anyone, there is a large portion of the Senior population in the Eugene/Springfield Oregon that will benefit from a Reverse Mortgage. If you are having trouble paying your monthly bills and have a large equity in your home, this might be the ideal way for you to go. If you need extra money for repairs or a new car but can’t afford another payment, this might be the way to go. You won’t know until you check if this is the program for you.

Call either Laurie or Fred for an appointment today at 541-342-7576. You can also email Laurie here or Fred here. Alpine Mortgage Planning is located at 1200 Executive Pkwy., Ste. 100, Eugene OR 97401. For full information about the Reverse Mortgage program for Seniors, contact us today. A Reverse Mortgage could save your home.

There are listings of homes for sale by the Department of Housing and Urban Development (HUD), called HUD Homes on the HUD website. The great thing about these properties is that they are first offered to people in the Eugene/Springfield, Lane County Oregon area that are going to use them for their primary residence. If there is not enough interest, then they will be offered to anyone. As an owner occupied purchase, many of the homes on the website qualify for a $100 special down payment program. That is right, only $100 down and if the seller (HUD) pays the closing costs, that means you can get into a home with only $100 out of pocket. Here is an example of one of the HUD Homes currently listed on the website:

This property is located at 665 Irvington in Eugene and is priced at $136,000 and is only available to owner occupied, government agencies and non profit purchasers. If you don’t have a Realtor, call me and I will recommend an excellent one for you. They must be registered with HUD to be able to sell HUD Homes. For information about the FHA $100 Down financing program, call me for that. You can reach me (Fred Chamberlin) at 541-342-7576/541-221-3455 cell or by e-mail. Alpine Mortgage Planning is located at 1200 Executive Pkwy., Ste. 100, Eugene OR 97401. I am your local lender. Call today.

I have started branding my blog posts with all of my identity information in the last paragraph, including name, phone number, e-mail, business and address because I am finding more and more of my blog posts showing up in “no host” sites as belonging to them. They are taking my blog posts in their entirety and re-blogging them without credit to the original author. That is stealing and it is a violation of copy write laws but how to enforce them.

I don’t have a problem with the sites that pick up my posts and then repost them giving me credit for the posting. That just gets me more exposure on the web. I think the people that do that are kind of lazy for not writing their own posts and using someone else’s work in a site that is just there to get Google Adsense money, but that is their thing. It is the ones that don’t say who they are and are just farming people coming into the site for Google Adsense and other referral income without credit to the authors that I really object to. For instance, I “borrowed” this picture from another website, but am giving credit to Agency Spy for their good work on this artwork: I even linked the picture to their URL so they get double credit for it. Now this takes a bit more time than just running an RSS feed to your website, but it is the right thing to do. Interestingly, when I contact Google about the use of my material on sites with Adsense, the could care less, even though it wasn't supposed to be done. All they care about, it appears, are the click throughs. They suggested that I sue.

Well, that is my rant for today. If you would like to discuss this problem, or are interested in mortgage information, contact me, Fred Chamberlin, at 541-342-7576/541-221-3455 cell or e-mail me. Alpine Mortgage Planning is located at 1200 Executive Pkwy., Ste. 100, Eugene OR 97401. May your posts be safe, and I hope this one goes up on the automatic posting on one of those sites.

WOW! There are changes, and then there are changes. FHA Commissioner David Stevens announced today a bunch of policy changes designed to strengthen FHA’s Capital Reserves. Those changes range from raising down payment requirements, to raising upfront and monthly mortgage insurance premiums to lowering the seller concessions. These are changes that can make huge differences in a person’s ability to actually get an FHA loan in the future.

FHA, like the banking sector, must also maintain capital ratios. Since they now insure about 30% of all new loans, FHA is nearing the limits of loans they can make based on their capital ratio. The loss of FHA as a lender in today’s market place would be hugely detrimental to the recovering housing industry. So, in an effort to fix this problem, FHA will be raising their upfront mortgage insurance premium fees from 1.75% to 2.25% and have requested approval for an increase in the monthly fee as well. They will also limit the high LTV financing to borrowers with a 580 credit score; a score under 580 will now require at least a 10% down payment. This will probably have the least effect on the market as the majority of lenders do not make FHA loans under a 620 credit score.

One change that I see having the biggest effect on the market will be limiting the seller contribution to 3 percent that will go into effect in early summer. Taken in conjunction with the new Good Faith Estimate changes that require credits for seller title insurance and yield spread premium for brokered loans, this could quickly become a major problem in an FHA transaction. Here is the announcement from FHA:

Announced FHA Policy Changes:

1. Mortgage insurance premium (MIP) will be increased to build up capital reserves and bring back private lending
   • The first step will be to raise the up-front MIP by 50 bps to 2.25% and request legislative authority to increase the maximum annual MIP that the FHA can charge.
   • If this authority is granted, then the second step will be to shift some of the premium increase from the up-front MIP to the annual MIP.
   • This shift will allow for the capital reserves to increase with less impact to the consumer, because the annual MIP is paid over the life of the loan instead of at the time of closing
   • The initial up-front increase is included in a Mortgagee Letter to be released tomorrow, January 21st, and will go into effect in the spring.
2. Update the combination of FICO scores and down payments for new borrowers.
   • New borrowers will now be required to have a minimum FICO score of 580 to qualify for FHA's 3.5% down payment program. New borrowers with less than a 580 FICO score will be required to put down at least 10%.
   • This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well.
   • This change will be posted in the Federal Register in February and, after a notice and comment period, would go into effect in the early summer.
3. Reduce allowable seller concessions from 6% to 3%
   • The current level exposes the FHA to excess risk by creating incentives to inflate appraised value. This change will bring FHA into conformity with industry standards on seller concessions.
   • This change will be posted in the Federal Register in February, and after a notice and comment period, would go into effect in the early summer.
4. Increase enforcement on FHA lenders
   • Publicly report lender performance rankings to complement currently available Neighborhood Watch data - Will be available on the HUD website on February 1.
     • This is an operational change to make information more user-friendly and hold lenders more accountable; it does not require new regulatory action as Neighborhood Watch data is currently publicly available.
   • Enhance monitoring of lender performance and compliance with FHA guidelines and standards.
     • Implement Credit Watch termination through lender underwriting ID in addition to originating ID.
     • This change is included in a Mortgagee Letter to be released tomorrow, January 21st, and is effective immediately.
   • Implement statutory authority through regulation of section 256 of the National Housing Act to enforce indemnification provisions for lenders using delegated insuring process
     • Specifications of this change will be posted in March, and after a notice and comment period, would go into effect in early summer.
   • HUD is pursuing legislative authority to increase enforcement on FHA lenders. Specific authority includes:
     • Amendment of section 256 of the National Housing Act to apply indemnification provisions to all Direct Endorsement lenders. This would require all approved mortgagees to assume liability for all of the loans that they originate and underwrite
     • Legislative authority permitting HUD maximum flexibility to establish separate "areas" for purposes of review and termination under the Credit Watch initiative. This would provide authority to withdraw originating and underwriting approval for a lender nationwide on the basis of the performance of its regional branches

As a mortgage banker, it will be easier to navigate some of the pitfalls that will come with the implementation of these policies. The announcement by FHA gave implementation time frames of these changes and a mortgagee letter will be issued tomorrow, so, now really is the right time to buy. Give me a call and lets see what we can do to qualify and put you into a home with an FHA loan. You can reach me at 541-342-7576/541-221-3455 cell or e-mail me. Alpine Mortgage Planning is located at 1200 Executive Pkwy. Ste. 100, Eugene OR 97401.

As I have said before, I don’t normally quote mortgage rates for a number of reasons, but I am going to make an exception again today. Today’s 30 year fixed rate for a conventional loan for the Eugene/Springfield, Lane County Oregon market is at 4.875%/5.041% APR*. The reason I am doing this is because I think this rate will be going up shortly. How soon is a really good guess, but undoubtedly by the end of March, but I expect it to happen much sooner.

Why do I expect movement sooner, rather than later? Well, I think we are seeing inflation that isn’t showing up on the government reports. I think the continued climbing of the stock markets while gold and oil climb are good indications of inflation. I think that the growth of the federal government through the stimulus spending is a sure sign of inflation and today we got actual reports of inflation in the United Kingdom and India. If you don’t think we are affected by inflation in other countries, try again. Inflation means that rates will rise. Not may rise, will rise. The Fed has done a pretty good job of keeping inflation in check, but there are signs that we are getting closer.

That is why I am quoting rates today. I think we may see the bottom of the current cycle and if you are one of those waiting for the bottom, you missed it, but still have a chance to get pretty close. Rates are pretty volatile in the best of times and in this market, a sudden sell off could result in huge increases in rates in a short period of time. I don’t think that will happen, I think rates will stay fairly good, but no where near as good as right now. I think we will see them go up much quicker than they come down but not in big leaps. I think this video from NAR really points out the folly of continuing to wait:

(*Now, for the fine print, the rate above assumes the following: Owner occupied conventional loan with a $250,000 purchase price (non manufactured home, non rural acreage, single family home) with 20% down. Loan amount is $200,000 Credit score of 740 or higher. 30 day lock period. Credit score, loan size, down payment, and purpose of loan will affect APR. This is not a guarantee of rate availability for a specific property and can change without notice. My lending is restricted to Oregon, Washington and California.)

The Federal Reserve is still buying mortgage backed securities and that is helping the bond market. This purchase program is only scheduled to continue through the end of March. Rates will undoubtedly bounce up when the Fed stops buying bonds. Now is probably the best of all worlds with rates down and housing prices down and sellers willing to negotiate, but for who knows how long? Add to that the First Time Home Buyer Tax Credit and the “Move-up” Homebuyer Tax Credit and we have an unbelievable time to buy. Both of those credits require you to be in contract by the end of April.

If you would like more information about what you can qualify for and actually be comfortable paying on a mortgage, give me (Fred Chamberlin) a call today, 541-342-7576/541-221-3455 cell or e-mail me. I am here to help you and to answer your questions. Alpine Mortgage Planning is located at 1200 Executive Pkwy., Ste. 100, Eugene OR 97401.

HUD announced Friday that the rules on flipping homes will be changing Feb. 1. This could have a huge effect on the Eugene/Springfield, Lane County Oregon market. This is being done in an effort to stabilize home values and improve conditions in communities where foreclosure activity is high according to HUD Secretary Shaun Donovan. I see this as being a boon to our are in getting rid of more of the foreclosures that have been plaguing our market. Under current rules, foreclosures that were still owned by the banks that purchased them could be bought with an FHA loan but any that were purchased from the bank had to be owned for 90 days before an offer could be made on them for an FHA loan.

"As a result of the tightened credit market, FHA-insured mortgage financing is often the only means of financing available to potential homebuyers," said Donovan. "FHA has an unprecedented opportunity to fulfill its mission by helping many homebuyers find affordable housing while contributing to neighborhood stabilization." So, as a result of the recent change, the prohibition of FHA insuring a mortgage on a home owed by the seller for less than 90 days will be temporarily lifted on Feb. 1. "This change in policy is temporary and will have very strict conditions and guidelines to assure that predatory practices are not allowed," Donovan said.

Since it often takes less than 90 days for someone to purchase a foreclosure and ready it for resale, FHA buyers were taken out of the buying pool for these properties because the sellers wanted to recoup their capital as soon as possible. Therefore, in many cases were not willing to wait until the 90 day period was expired. Under the new policy, there may be requirements of a second appraisal or proof of improvements, but overall, it will, at least, put FHA buyers on an even footing for some excellent deals out there. "This action will enable our borrowers, especially first-time buyers, to take advantage of this opportunity." said FHA Commissioner David H. Stevens. The waiver will take effect on February 1, 2010 and is effective for one year, unless otherwise extended or withdrawn by the FHA Commissioner.

To protect FHA borrowers against predatory practices of "flipping" where properties are quickly resold at inflated prices to unsuspecting borrowers, this waiver is limited to those sales meeting the following general conditions:

• All transactions must be arms-length, with no identity of interest between the buyer and seller or other parties participating in the sales transaction.
• In cases in which the sales price of the property is 20 percent or more above the seller's acquisition cost, the waiver will only apply if the lender meets specific conditions.
• The waiver is limited to forward mortgages, and does not apply to the Home Equity Conversion Mortgage (HECM) for purchase program.

As always, I am available to help with the transaction. I would assume that offers should not be made on any of these properties until Feb. 1. If I can help with any FHA purchase transaction, contact me at Alpine Mortgage Planning, 541-342-7576/541-221-3455 cell or e-mail me. We are located at 1200 Executive Pkwy., Ste. 100 in Eugene.

On January 1, the new 2010 Good Faith Estimate came into being amid a lot of hoopla and consternations. Now that it is here, many people don’t know exactly what it does and doesn’t do for the consumer and how it will effect and what affect it will have on Realtors®. This is a major change in RESPA (Real Estate Settlement and Procedures Act). Because of the changes, I will be holding webinars for Realtors® in my service area (Oregon, Washington and California) with a limit of 25 per day allowed to register. Here is the sign up link for the webinars.

The webinars are free and I will be sending a one hour certificate of attendance for each attendee. The changes in this form are huge and should be considered a must know for any Realtor®. I have held many seminars in the past for Realtors® and consumers on subjects ranging from First Time Homebuyer information, to FHA ins and outs, to blogging for your business. I will also be holding seminars in the near future for potential home buyers. The nice thing about a webinar is that you don’t have to figure in the travel time from your busy day. Each one will be held at your desk.

Be sure and get registered, I expect these slots to fill fast and will be strictly first come first served. If you have any other real estate mortgage questions, don’t hesitate to contact the Eugene Loan Guy, 541-342-7576/541-221-3455 cell, 1200 Executive Pkwy., Ste. 100, Eugene OR, or e-mail me.

The mortgage bank that I work for, Alpine Mortgage Planning, has issued a challenge to the Eugene/Springfield area to bring in a Million Dollars ($1,000,000) in First Time Home Buyer Tax Credits as part of the Stimulus package. You can check out the challenge here.

All of this means that the loan advisors teaming with their Realtor partners will be working to bring the dream of homeownership to at least 125 first time home buyers between now and November 30, 2009, the date the tax credit expires.

Check out the http://www.alpinemilliondollarstimuluschallenge.com/ website for information about upcoming seminars for new home buyers. Down Payment Assistance programs will also be addressed during the seminars, helping prospective home owners get the money together for the down payment.

If you have any questions about the seminars, or to start the process, give me a call at 541-342-7576/541-221-3455 Cell or e-mail me.