credit and financing: Foreclosure, Bankruptcy and FHA - How long do I have to wait to buy a home? - 03/05/09 12:57 PM
Because of the economy, more and more people are wondering what the consequences of their bankruptcy or foreclosure are in regards getting a mortgage loan and buying real estate.
How long do I have to wait to buy a home after a foreclosure?
How long do I have to wait to … (4 comments)
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credit and financing: Mortgage Interest Rates Volatile - Stay Informed With This Daily Update - 10/15/08 05:38 PM
Do you know what today's mortgage rate is? It went up .25% from yesterday!
With the real estate market the way it is, some people want to know what the rates are doing. I've put into place a way for you to stay updated every day...on your cell phone!
If you … (4 comments)
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credit and financing: Check Your Credit Report for Free - 09/17/08 02:52 PM
Countrywide Home Loans has revealed that there was a security breach and that people who have their mortgages with their company may have had their social security numbers compromised.
When you get a home loan, you give plenty of information. Enough needed to become a serious victim of identity theft.
Identity … (6 comments)
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credit and financing: FHA down payment will change January 1, 2009 - 09/16/08 04:17 PM
Hilary Wilkinson is an indispensable part of my loan team. She posted her first blog article on Active Rain. This is quality information from someone who is a valuable part of the local real estate community. Enjoy!
Via Hilary Wilkinson:
I thought this would be an excellent topic for my first blog … (1 comments)
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credit and financing: OUT OF FUNDS - Riverside County First Time Home Buyer Program Is Out Of Funds - 09/08/08 02:33 PM
Just last week I posted that the Riverside County EDA FTHB Program was running out funds fast.
The Hemet Home Loan Guy has received word that they've stopped accepting applications as of today. The applications that were submitted before today but don't have the money reserved yet may or may not … (7 comments)
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credit and financing: Riverside County First Time Home Buyers Program Running Out Of Funds FAST. - 09/03/08 07:45 PM
***CLICK HERE FOR AN IMPORTANT UPDATE.***
The Hemet Home Loan Guy reported recently that the community down payment assistance programs HART and Nehemiah are going away by October 1st.
Looks like another great source of help for buyers in Hemet and the surrounding areas is going away by that same … (1 comments)
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credit and financing: The End of Down Payment Assistance? Bush Signs Housing Bill - 07/30/08 01:49 PM
I guess President Bush isn't taking my calls anymore!
Last week on this blog the Hemet Home Loan Guy issued a call to action to save downpayment assistance programs. Well the President signed the housing bill this morning (for the actual language of the bill, scroll to the bottom).
What does … (24 comments)
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credit and financing: Down Payment Assistance Programs Need Your Help! ACT NOW! - 07/23/08 05:07 PM
Buyers in Hemet and the surrounding areas breathed a sigh of relief in March when courts rejected HUD's challenge to the legality of community down payment assistance programs like HART or Nehemiah.
Now it looks like we've got to hold our breath again!
Having failed in the courts, Congress is working … (14 comments)
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credit and financing: Credit Repair for Challenged Buyers - Real Agent Help Breakfast - 07/03/08 07:53 PM
Real Agent Help Monthly Breakfast - Credit Repair for Challenged Buyers
The Real Agent Help Monthly Breakfast is the premier real estate networking event in the Hemet region in Riverside County, California. Join us for a quality breakfast, an opportunity to share a need or a listing you have, great educational content … (4 comments)
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credit and financing: Mortgage Pro Week in Review -- 06/09/08 through 06/15/08 - 06/17/08 12:09 PM
I was honored when Jeff Belonger asked the Hemet Home Loan Guy to write this week's Mortgage Pro Week in Review. I had no idea how much I would learn by doing it! Jeff gave me the instructions (with special help from Mike Mueller) on how to cruise the week's mortgage posts and … (18 comments)
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credit and financing: Down Payment Assistance For Home Buyers - Real Agent Help Monthly Breakfast - 05/29/08 10:28 PM
Real Agent Help Monthly Breakfast - Down Payment Assistance For Home Buyers
The Real Agent Help Monthly Breakfast is the premier real estate networking event in the Hemet region in Riverside County, California. Join us for a quality breakfast, an opportunity to share a need or a listing you have, great educational … (10 comments)
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credit and financing: I'm Not Whining About 'Declining' - A Contrarian's View Of The Adverse Real Estate Market - 05/03/08 10:16 AM
One of my favorite real estate bloggers had a post featured today on the Active Rain Social Network. This real estate professional is smarter, more experienced and more widely-read than most of us on the network. The post was well-written, incisive and thought-provoking.
So I think it's only natural that I disagree.
Lenn … (87 comments)
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credit and financing: Doctors and Drug Dealers - A Real Estate Parable - 05/02/08 10:38 AM
The Doctor walks in and greets his patient.
Doctor: Hello! How are you today?
Patient: How many pills can you give me?
Doctor (taken aback): Um...pills...well, tell me more about your condition.
Pt: Well, I'm in the market for some pills and I'm just checking out different doctors to see who has the best deal.
Dr: … (37 comments)
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credit and financing: Mortgage Insurance Madness! - 04/27/08 03:03 AM
There was a time when, to buy a home, you had to have 20% down. Then came along mortgage insurance.
Mortgage insurance allows mortgage lenders to recover their losses if there is a foreclosure. So it allows them to give you a home loan with less than 20% down.
.......................UNTIL NOW...................
Everyone knows that … (7 comments)
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credit and financing: What's the interest rate today? It's on your cell phone. - 04/03/08 04:33 PM
"What's the interest rate on a 30 year fixed rate mortgage today? What about a 5/1 adjustable rate mortgage?"
I get A LOT of quick phone calls and emails asking these questions. Even face-to-face, someone might forget to say "How are you?" and go right to "Hey Joey...what's today's rate?"
Would you like … (19 comments)
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credit and financing: FHA Loan Limits Increase - HUD Releases Median Home Prices for Riverside County, California - 03/05/08 05:01 PM
FHA Loan Limits Increase - HUD Releases Median Home Prices for Riverside County, California
The Department of Housing and Urban Development released median home prices for Riverside County, California.
The median price of a single family residence in Riverside County, California (including Hemet, San Jacinto, Murietta, Temecula, Idyllwild, Banning and the surrounding areas) is … (25 comments)
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credit and financing: Mo' Money, Mo' Money, MO' MONEY...Mortgage Costs still Rising - 02/29/08 01:52 AM
In the immortal words of Shaggy...
"ZOINKS!"
Freddie Mac (or, to use their Westminster Dog Show name, The Federal Home Loan Mortgage Corporation) are raising their mortgage loan delivery fees effective June 1st, 2008.
Delivery Fees are the fees that mortgage loan originators, like the Hemet Home Loan Guy (that's me) and their companies … (2 comments)
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credit and financing: Commercials for Altura Credit Union with the Hemet Home Loan Guy in Them - 02/24/08 09:01 PM
Altura Credit Union (formerly known as Riverside County's Credit Union) is the parent company for Patrion Mortgage. When the Hemet Home Loan Guy heard they were going to film some commercials and they were looking for handsome and talented volunteers he signed up.
Okay, just volunteers.
Here's the first commercial. If you … (8 comments)
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credit and financing: Adjustable Rate Mortgages in Riverside County? - 02/18/08 08:55 PM
Adjustable Rate Mortgages, or ARMs, are one option when you finance a home. But, in a time of declining home prices, is it a good option? It's been a while since I wrote ARMed and Dangerous? and it's time for a quick update.
First...today's interest rates** for Patrion Mortgage's portfolio Hybrid ARMs:
3/1 ARM … (7 comments)
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credit and financing: New Mortgage Loan Limits: When and How Much? - 02/15/08 12:04 PM
On Wednesday the President signed the economic stimulus bill that I wrote about in No Mo' Jumbo? Higher Mortgage Loan Limits from Congress to President. So when do these changes take place? And what will the new home loan limits be?
When? The new loan limits legally became effective when the bill was signed, … (14 comments)
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