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mortgages: SENATE BILL 2338 - 12/14/07 12:03 PM
It looks like SB 2338 (FHA Reform) will possibly pass before the end of the year. The hold up has been Oklahoma Republican Tom Coburn and he has agreed to release his hold on the housing bill. This is good news and our markets may get some relief because of the bill.
Coburn had expressed a number of concerns about the bill and objected to unanimous consent requests to pass the bill on Nov. 14 and Dec 6. As you know, the House passed their version of the bill (HR 1852) as far back as Sept. 18.
FHA reform will increase the size … (2 comments)
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mortgages: RAIDERS DO IT AGAIN! - 12/02/07 09:13 PM
What a great day. The Raiders have not only won 2 in a row, but two divisional games in a row. Jamarcus even got to get in and throw the ball and he did look good.
If you think about it, we have been in this market about 2 years. The Raiders have also been in a down market for 2 years. Maybe with the Raiders winning 2 in a row it means that we are also going to start Monday with a market that will go crazy. Thats it, as long as the Raiders win, we can not go wrong.
Oh well … (0 comments)
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mortgages: An Option to the Reverse Mortgage - 11/30/07 11:11 PM
Look out Reverse, there is another player on the horizon. The EquityKey program is for seniors between the ages of 65 to 85. The benefits of EquityKey are 1. Owner recieves debt free cash equal to 12-15% of initial home value(24-30% of initial home value is both homeowners qualify). 2. No closing costs-just a simple $300 application fee. 3, Property can go to your heirs. 4. Eligible properties: primary residence, rental, commercial, or second home. 5. You can do anything you want with the money you recieve from EquityKey 6. EquityKey does not affect any of the original equity in your … (1 comments)
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mortgages: Has Your Favorite Lender Imploded? - 10/02/07 02:53 PM
Wow acording to www.ml-implode.com 161 lenders or divisions of the lender have imploded since 04/14/2006. That is almost 10 per month. I have been in the mortgage business since January of 1977 and if I go back, we have had a correction every decade. That is all we are experiencing, is a correction. The biggest damn correction I have ever been in. This market is not just closing down Mortgage Companies, but it is now affecting Thrifts. NetBank has been the latest casualty and the first Thrift shut down since 2001.
Now is not the time to sit and complain about what is … (1 comments)
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Joseph Crespillo
Rocklin,
CA
More about me…
Sellstate Realty First
Address: 535 Menlo Drive STE A, Rocklin, CA, 95765
Office Phone: (916) 784-7653 x 113
Cell Phone: (916) 705-3580
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