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eugene springfield lane county oregon: Eugene Loan Guy website up and running - 12/12/08 03:30 PM
With the help of RandDArt.com, I have a new website up and running. The site is EugeneLoanGuy.com and I have great hopes of filling it with knowledge, commentary, reviews and real estate listings. I have a couple of posts up already on morgage business, but will be adding more on a daily basis. I invite all of your to visit my site and leave any recommendations as to what you might like to see on this site. It is going to be more region specific that what I have done on Active Rain. I will also be working with the other … (11 comments)
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eugene springfield lane county oregon: HUD Neighborhood Stabilization Program to help with financing of foreclosed property down payment - 12/08/08 01:17 PM
HUD's new Neighborhood Stabilization Program is designed to provide emergency assistance to local and state governments, like Eugene and Springfield to acquire and redevelop foreclosed properties. As I stated in a recent blog, Bob Briscoe, Eugene Planning and Development Department, announced to our Town Hall meeting that Eugene had recently received over $600,000 and Springfield over $300,000 under this program. The program is for owner occupied or non profit purchases only. Both cities are currently working on program guidelines that will help in the use of this money, possibly in conjunction with existing programs like the FHA 203k Streamline. Preliminary thoughts about … (11 comments)
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eugene springfield lane county oregon: Town Hall meeting to discuss Real Estate Mortgages and changes to FHA, USDA, and Conventional Loans - 12/06/08 12:52 AM
Yesterday, Alpine Mortgage Planning held our first Town Hall meeting to discuss changes in the lending environment for Eugene/Springfield Realtors®. The presentation covered conventional financing, including changes in loan to value, credit scores and income documentation; FHA financing, including changes in inspection and appraisal requirements, down payment and the 203k Streamline program; Down Payment Assistance programs and the Oregon Bond Program, including HAP, SHOP and PAL; Cultural Differences from Carmen Ayub specializing in the Hispanic community; USDA Rural Guaranteed program, a true 100% financing program and the new FHA HECM Reverse Mortgage purchase program. I get to thank Eleanor Thorne for … (4 comments)
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eugene springfield lane county oregon: HUD Changes RESPA requiring different GFE disclosure for more informed consumers - 12/02/08 05:48 PM
Call me slow if you want to, but I have been trying to digest the "long-anticipated mortgage reforms that will help consumers to shop for the lowest cost mortgage and avoid costly and potentially harmful loan offers" announced by HUD on Nov. 12. It has taken some time, but I think I understand what has been done so far and how it will affect lenders and consumers after implementation. According to HUD Secretary Steve Preston, ".... the mortgage crisis was fueled in part by people agreeing to mortgages that they ultimately could not afford. In some cases, people didn't understand … (20 comments)
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eugene springfield lane county oregon: 90,000 points (exactly) now that is fun! - 11/26/08 03:26 PM
Wow, I just went to my home and saw this:
)Sorry, can't figure out how to get this to work right. I am still technically challenged in a lot of ways.)
I couldn't believe it! 90,000 points (exactly). All of this since June 26, just 5 months.
How did I do it? Consistant comments on other people's blogs. Consistant posting on my own blog. Taking an interest in this community and wanting to see what other people are talking about. And, getting some interest generated in some of my postings.
I have tried to write interesting posts and most of … (28 comments)
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eugene springfield lane county oregon: Alpine Mortgage Announces Last Day to Lock Loans Under FHA Temporary Loan Limit Increase - 11/20/08 12:58 PM
I know this is going to be a company by company thing, however, my company has announced that they will not be accepting loan locks on FHA "increased" loan limits after December 5, 2008. This means that any FHA Real Estate Loans going into our system after that date must conform with the 2009 FHA Loan Limits. Since Lane County will be falling under the new minimum FHA Loan Limit of $271,050, from our current limit of $343,750, this will be a reduction of $42,700 in loan amount. At this time, I am not aware of other lenders cut off date for … (2 comments)
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eugene springfield lane county oregon: HUD Announces New FHA Loan Limits for 2009 - 11/07/08 08:01 PM
HUD has announced the new FHA loan limits for 2009 and they are lower than I expected for Lane County. The new loan limit is $271,050 versus the current "temporary" loan limit of $343,750, a reduction of over $70k. There are a few Oregon counties that have higher loan limits, but the majority of the counties are limited to this same number. $271,050 is the magic number nationwide.
To take advantage of the current loan limit, a property must have an accepted offer and an FHA case number assigned prior to the end of the year. Like what happened with the … (26 comments)
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eugene springfield lane county oregon: FHA Reverse Mortgage, what the heck is HECM? - 11/06/08 04:36 PM
So, what is a Reverse Mortgage? Maybe, a better, more specific question is: What the heck is a HECM? Well, HECM stands for Home Equity Conversion Mortgage. It is a way for seniors to tap into the equity in their property without taking on payments that will cause them difficulty in the future.
The HECM FHA insured reverse mortgage can be used by senior homeowners age 62 and older to convert the equity in their home into monthly streams of income and/or a line of credit to be repaid when they no longer occupy the home.
Borrower Requirements:
How the Home Equity … (11 comments)
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eugene springfield lane county oregon: Real Estate is Local: The Top Ten Reasons To Use A LOCAL Mortgage Broker - 09/22/08 01:16 PM
J. J. Guilbault, a Mortgage Broker Based Out of the San Francisco Bay Area, wrote the following explanation about why it is good to use someone local with your mortgage needs. Overall, it is a well thought out piece but that doesn't mean I am not here to help my clients in other areas as well. Relationships are important in real estate lending, sometimes those relationships can be found through the phone and e-mail or can be continued. Make your own decision as to what is best for you.
Via Janet Guilbault, California Mortgage Expert:
Via Janet Guilbault, California Mortgage Expert:
I … (9 comments)
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Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant
Oak Harbor,
WA
More about me…
Guild Mortgage Co - Oak Harbor WA
Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277
Office Phone: (360) 675-6106
Cell Phone: (541) 221-3455
Email Me
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