Article by Jason Wheeler | New here? Subscribe to our feed | 925-285-2172

There are many ways to get out there and obtain the best rate on a mortgage loan. According to Michele Lerner at the San Francisco Chronicle

While house hunting can sometimes be fun, home loan shopping is rarely a pleasurable activity, particularly in these days of tightened credit standards. However, if you ask a home buyer who has successfully snagged a mortgage loan with a low interest rate and low fees, they will express a moment of triumph that makes loan shopping seem like it could be less of a chore.

(Check out 10 Essential Tips to Buying Real Estate in the Bay Area)

Being a Broker myself with a reputable company like Clarion Mortgage Capital I am partial and truly believe that a good Broker will usually have your best interests at heart and be able answer all your questions and offer you the best loan options available on the market. A good broker can often meet your needs and shop several banks and lenders while a direct bank like Wells Fargo or Chase is limited to the spectrum of their own products and underwriting guidelines. A good broker will also stick with you if you have Credit Repair Issues and offer advice as to what you would need to do in order to qualify if you currently are not.

Advantages of a Mortgage Broker
The biggest advantage of working with a mortgage broker is that you can save time and effort. A good broker will research loans from a variety of financial institutions and recommend one or two loans that are a good fit for your needs. The broker will function as a middleman between you and the lender, funneling the appropriate paperwork to the lender. Rather than spending days comparing loan rates and fees from one lender to the next, you can turn over that job to a professional. Chances are also high that a broker will have access to a greater variety of loan programs than a banker.

With rates continuing to drop and the forecast for home values to continue declining as well there has been no better time for you to take advantage of rates that are super low and lock in a great 30 Year Fixed with one of our preferred lender relationships.

Mortgage rates in California have never been lower and if you can lower your finance costs without paying a lot of fees with a no closing cost mortgage loan the process is a no brainier. Right now coming out the the Summer of 2010 we have more refinance business than we've had since 2003. Only now instead of everyone taking cash out of their home they are looking to secure low financing that they can count on for the life of the loan.

Take a look at some of the Low Rates right now on California Mortgage Loans Here

Until Next time Here is to your success! Jason Wheeler 925-285-2172 |

Article by Jason Wheeler | New here? Subscribe to our feed | 925-285-2172

So do you think social media is a fad? Are you running a business without a good social media campaign? If the answer to this is yes than you are throwing away a fortune of leads, clients, and customers no matter what your business is!

I talk to people all the time about using social media and the internet in order to market your business. The fact is that many business owners are very resistant to using social media as a key part of their marketing strategy. If you are one of them... rather than trying to convince your to get involved watch this quick fact filled video on the direction of our economy!

Let me know what you think with a comment below.

Until Next time Here is to your success! Jason Wheeler 925-285-2172 |

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Could there actually be some help coming for homeowners that have been consistantly paying thier mortgage? It seems that five specific states have been granted yet another special fund from the government. Is this more smoke and mirrors or will it really help?

Wall Street Journal Says

WASHINGTON—The U.S. Treasury Department said Wednesday it had approved five states' plans to aid homeowners in the hope of thwarting foreclosures in communities hit hard by the recession.

State housing agencies in Arizona, California, Florida, Michigan and Nevada will receive a total of $1.5 billion from the Obama administration's "Hardest Hit Fund."

Proposals approved Wednesday include programs to help struggling homeowners who owe more than their homes are worth by reducing the principal owed on their loans; to help unemployed or underemployed homeowners make mortgage payments; to facilitate the settlement of second liens, short sales or deeds in lieu of foreclosure; and help with payments in arrears.

In my home state of California I just heard my first financing dream story in a long time that had to do with a bank. A good friend of mine and also a real estate partner was offered a no strings attached permenant modification on her Option ARM from Chase Bank. No paperwork or underwriting. They simpley did a BPO on her home, say that she had good history and bang she got a permenant modificaiton. Here is how the deal worked.

1. Her principal was reduced to a point where the payments on the new fully amortized loan almost match her Option ARM.
2. She was offered a rate of 5% that would be paid off within 18 years.
3. No underwriting, tax returns or pay stubs and it takes effect next payment!

Looks like Chase is picking and choosing who deserves a modification and who doesn't. Maybe her perfect payment history paid off. Or maybe she just has some really good karma.

Have you heard of any positive stories like this one? Leave me a comment and let me know.

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Until Next time Here is to your success! Jason Wheeler 925-285-2172

Leave a Comment Below I Answer Each One!

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Fewer Foreclosures on the Market | Banks are Holding Real Estate Learn to be a Cash Buyer

I talk to Realtor's and Real Estate Investors everyday throughout the SF Bay Area. Many believe that there are more foreclosures being held by banks than there actually are right now. You might be surprised that the banks on a nationwide level are not holding as many foreclosed homes as originally thought. In many cases they area simply letting people live in these homes for free without paying a mortgage.

I personally know several families and individuals that have been living without foreclosure proceedings and without paying their mortgage for 6 months, one year and even up to two and half years in Pleasant Hill California, and all over the Bay Area. However there will be another major wave coming throughout the next two years. The next foreclosure wave is inevitable. The real question is are you going to capitalize as a cash buyer or are you going to be stuck like millions of other Americans that don't fit into the banking mortgage box?

The Wallstreet Journal Says

Banks have fewer foreclosed homes to sell than previously believed, but those holdings are likely to grow gradually over the next couple of years, a new study by Barclays Capital says.

The investment bank's latest calculations support the view that the U.S. housing market is stabilizing but that a major recovery isn't imminent and there are still risks of falling prices.

Barclays estimates banks and mortgage investors including Fannie Mae and Freddie Mac owned 480,000 homes at the end of February. Barclays has acquired more data on mortgages and refined its methods for analyzing foreclosure trends. Under the bank's previous methods, the estimate for February would have been more than 600,000.

Barclays expects the inventory generally to rise over the next 20 months, peaking at 536,000 in January 2012, and then decline gradually.

If you would like to learn several ways to become a cash buyer without your cash read the rest here!

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Hope you had a wonderful Easter Weekend and Spring Break! If you got to get away or spend some extra time with you family this week well that is what life is really all about. I am still hoping to sneak up to the snow once more before it all melts and the runs close for the year.

This week I wanted to pass along a couple of relevant articles that I hoped you would find to be valuable. Also if you would like to attend one of our events please don't hesitate to ask me about them. They are great for networking and learning and they are FREE too!

Real Estate Investor Events This Week!

Investor Forums Networking and Education in Bay Area CA RSVP Here!

This is your opportunity to learn from pros that are making local deals. If you would like to get started and work with a team of professional real estate investors you absolutely deserve to receive the information that we will be sharing this evening!

If you would like to network and learn with people who are truly creating success with Real Estate Investing in today's market you don't want to miss this.

Relevant Articles

Details on the CA Real Estate Tax Credit were released on April 7th and you can get all the official details right here!

The rate that the government charges to insure FHA loans wend from 1.75% of the loan amount to 2.25% last week. That makes if much more expensive to get one of these loans. More Info Here!

Effective for FHA loans for which the case number is assigned on or after April 5, 2010, FHA will collect an upfront mortgage insurance premium of 2.25 percent up from the current 1.75 percent.

Financing Trends

Here we are wrapping up Friday 4/9/2010. Mortgage rates are still extremely low. Some of the niche programs for first time buyers and tax credits are still available.

You can look at weekly rate trends Here | Popular Funding Programs

If you have financing questions, or want to learn more about what we are doing as Real Estate Investors? Or if you are looking for new income or lending sources... Don't hesitate to get in touch with me anytime! Right now we have access to over 300 non traditional lenders looking to give you money for your real estate deal.

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Until Next time Here is to your success! Jason Wheeler 925-285-2172

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"The Weekend Wrap Up"

Presented by Jason Wheeler

Can you believe that we have reached the end of the 1st quarter of 2010 already!? During this time it is great to reflect and see how your current marketing strategy is working for your business. Personally I made some big changes for my business in the new year and I have been having some truly phenominal results. No matter what your business is you NEED a marketing plan.

Here are are a few tips that myself and some partners are having some great success with!

1. Tighten your target market. Smaller, highly targeted marketing options are far cheaper - and often more effective - than tactics that reach a larger audience.  For example, instead of direct mailing to an entire state of note holders or potential buyers and sellers off of a quality list, maybe direct mail to only note holders in that state with notes under $100,000, that are seasoned less than six months on residential property only.  Or if you are using classified ads, instead of placing your ads in a large regional paper, maybe place them in smaller local papers in outlying rural areas around major cities.
2. Ask for 'remnant space'.  If you are advertising, whether it is print, TV or radio, every media outlet has unsold space they sometimes sell to smaller advertisers at a fraction of the regular price.  A company that I know got a nationwide remnant ads on CNN for only $500!  In this economic environment, ask for details!
3. E-mail Newsletters.  Web-based services with pre-formatted templates that maintain your list and do all of the technical work for you (except for the writing) are a cheap, easy way to regularly remind note holders, referral sources and potential clients of your value and services.

Click Here for the Rest of the Article!

This is your opportunity to learn from pros that are making local deals. If you would like to get started and work with a team of professional real estate investors you absolutely deserve to receive the information that we will be sharing this evening!

• Sacramento Register
• San Jose Register
• Pleasanton Register

If you would like to network and learn with people who are truly creating success with Real Estate Investing in today's market you don't want to miss this.

Connect with Jason Online!

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Until Next time Here is to your success! Jason Wheeler 925-285-2172

"The Weekend Wrap Up"

Presented by Jason Wheeler

I am committed to putting out valuable content that professionals and home buyers can use. There were some pretty big news stories this week in the Real Estate Financing world and I thought I would share them with you a bit early instead of at the end of the week!

Great News for home buyers! Despite declining home sales for the entire first quarter of 2010 The CA house has decided to extend the home buyer tax credits. The Governor is set to sign the bill today in Fresno CA.

New California First Time Home Buyer Tax Credit Highlights

 

Bank Of America to Reduce Principal for Distress Home Owners

Bank of America, the nation's largest mortgage lender, on Wednesday announced a program to offer homeowners who owe significantly more than their homes are worth the opportunity to have their loan balances reduced.

I've done some personal research on this program and from what I heard on the news today it's a very interesting.  If a homeowner owes more than 120% of the value of their home but wants to keep it, B of A essentially forgives interest temporarily.  (Another way to look at it is they set the interest rate at -0-.)

Then they set a payment they think the homeowner can afford, and 100% of the payment goes to principal reduction until...

The balance of the loan drops down to the then-current value of the home.  Then interest kicks in again, presumably at the original terms, although I don't know that for sure.

Note that B of A doesn't give up any principal, but rather gives up interest -- but only for a fairly short time.

Financing Trends

Here we are wrapping up Friday 3/25/2010. Mortgage rates are still extremely low. Some of the niche programs for first time buyers and tax credits are still available.

You can look at weekly rate trends Here | Popular Funding Programs

If you have financing questions, or want to learn more about what we are doing as Real Estate Investors? Or if you are looking for new income or lending sources... Don't hesitate to get in touch with me anytime! Right now we have access to over 300 non traditional lenders looking to give you money for your real estate deal.

Real Estate Investor Events This Week!

Investor Forum in Bay Area CA RSVP Here!

This is your opportunity to learn from pros that are making local deals. If you would like to get started and work with a team of professional real estate investors you absolutely deserve to receive the information that we will be sharing this evening!

• Sacramento Register

• San Jose Register

• Pleasanton Register

If you would like to network and learn with people who are truly creating success with Real Estate Investing in today's market you don't want to miss this.

Connect with Jason Online!

Facebook | Twitter | LinkedIn

Until Next time Here is to your success! Jason Wheeler 925-285-2172

Real Estate Pro Articles | Real Estate Investing: part time or full time?

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When I saw this video not only is it extremely entertaining but it is a great testimonial as to achieving what seems to be impossible if you are truly persistent. When you watch it you will know what I mean. These guys had to have tried to make this work countless times before it actually worked out the way you see it. Let me know what you think and ENJOY!

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Until Next time Here is to your success! Jason Wheeler 925-285-2172

Real Estate Pro Articles | Real Estate Investing: part time or full time?

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When I talk to people about how I got started in real estate investing they often assume they don't have time... The fact is that when I got started I was waiting tables 6 nights a week in the restaurant business. The people that find success in real estate often start part time while they work a full time job. The important thing is to get started somewhere. The key is to build a base, learn everything you can and create some contact and mentors. By no means do you need this to be a full time endeavor at first.

All of these are the reason why you should attend one of our free events. You will have an opportunity to meet others experienced and novice that want to help you succeed. You will also gain knowledge that will empower you to take action on those first deals. Finally we can show hundreds of resources to create capital for your projects. One of the biggest misconceptions is having the money to get started. Right now I can introduce you to over 300 non traditional lenders that want to lend you money for your real estate deals!

Real Estate Investing: part time or full time?

Connect with Jason Online!

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Until Next time Here is to your success! Jason Wheeler 925-285-2172

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Since 2003 I have been helping people finance their real estate deals... over the past few years it is no secret that traditional bank financing has become more and more difficult. Instead of a borrower fitting into any given banks "box" the banks are having you fit into more of a sugar cube! Has this been a problem for you?

I would also really like to share with you this week two books that were introduced to me. If you are driven to succeed? No matter what in, check these out and pick them up!

1. Crush It!: Why NOW Is the Time to Cash In on Your Passion
2. The Alchemist (Paperback)

Will Smith has always been an entertainer since I was a kid. Growing up I never thought he would turn into the inspiration that he is today! I had to share this video that I found with you! I hope you enjoy it and pass it on. It is absolutely worth watching

 

Must watch!

Here we are wrapping up Friday 1/29/2010. Mortgage trends are relatively flat for the week. You can still lock in loans under 5%

You can look at weekly rate trends Here.

If you have financing questions, or want to learn more about what we are doing as Real Estate Investors? If you are looking for new income or lending sources... Don't hesitate to get in touch with me anytime!

Real Estate Investor Events This Week!

Investor Forum in Bay Area CA RSVP Here!

Join us and learn from a ton of Real Estate Entrepreneurs and Investors that are helping people like you create massive wealth in Real Estate TODAY!!. This will be a packed event where you will learn nuts and bolts Real Estate Investment knowledge to take advantage of what is happening in the market RIGHT NOW

Connect with Jason Online!

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Until Next time Here is to your success! Jason Wheeler 925-285-2172