california: Pulling the Plug on Home Equity Lines of Credit - 02/02/08 10:35 AM
Countrywide Financial Corp. (CFC) sent letters to 122,000 customers last week telling them they could no longer borrow against their credit lines because the total debt on the home exceeded the market value of the property. The lender says it is using computer modeling to determine which of its customers would … (8 comments)
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california: Conforming Loan Limit to $725,000 For California? - 01/25/08 05:38 PM
I can't stress the importance of increasing the Conforming Loan Limits in high cost areas, such as California.
Below is a letter to California Association of REALTORS® members, on behalf of it's President, William E. Brown.
Please get the word out there on the importance of this matter, as it will help the California housing market recover … (3 comments)
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california: California Real Estate Blog Update - 05/31/07 12:43 PM
It's time for a California Real Estate Blog Update!
As promised, Google has finally taken our website out of the "sandbox" and the California Real Estate Professionals that are participating on the network will start to see their names,listings and content showing up in the rankings at Google.com!
The California Real Estate blog has been getting … (5 comments)
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california: I've been Meebo'd! - 05/24/07 03:25 PM
That's right. I found a great little tool that I think will help communication between potential California Home Loan clients and my Mortgage Companies...and it's called Meebo! What is Meebo? Meebo allows you to create an Instant Message widget that can be placed on any of your websites. I intend to be logged … (1 comments)
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california: 18 Reasons Why Scott Gormley Should Be Used For Your Next California Home Loan! - 05/11/07 10:56 AM
When choosing a Mortgage Broker to work with in California, you must choose someone that holds certain qualities. Making a wrong decision can be costly on a financial and emotional level. Purchasing or refinancing a home is typically the largest investment and decision that the average person makes. Be sure to surround yourself … (6 comments)
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california: Understanding Refinance and Home Loan Closing Costs! - 04/28/07 11:36 AM
There's an old saying, "If it's too good to be true, it probably is!" Such is the case with refinancing or purchasing a home and the topic of closing costs. Many lenders in the industry will claim NO CLOSING COSTS, however, everyone actually plays on a level playing field! The only … (15 comments)
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california: Enloe Hospital Employee Benefit-Chico,California - 04/18/07 09:43 AM
$400 Appraisal Credit at the close of escrow on all Real Estate or Refinance loans!
In appreciation for the hard work that Enloe Hospital employees extend to the Chico,California community, I would like to offer my services as an employee benefit. My name is Scott Gormley and I'm the Broker/Owner of Oak Valley … (0 comments)
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california: Why I promote competitors in my own market... - 04/06/07 11:06 AM
Like Tony would say, "They'rrrrrreeeeee Grrrrrrrrrrrrrrreaaaaatttttt!"
Many would think I'm crazy. The purpose of business is to be profitable, right? But I think we have a larger obligation than simply looking at the dollars and cents at the bottom line. In the Real Estate and Lending business, there are clearly good apples and … (7 comments)
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california: My Fight on My Own Supplemental Tax Bill - 04/05/07 10:00 AM
Here's one that I don't get and it was on my own mortgage! Imagine that...A mortgage broker having issues with his lender on his own mortgage. I find that more often than not, I have a full understanding of what is going on with my loan and impound account and the … (3 comments)
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california: California Real Estate Blog Picture Contest! - 03/28/07 09:53 AM
The California Real Estate Blog is having a contest, so get those cameras out! The winner will win 1 city profile for an ENTIRE YEAR on our website! Check it out!
Clicks on your camera and mouse could equal clicks to your website!
Hey Everyone,
I just wanted to give some brief updates on … (11 comments)
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california: The Power of a Great Appraiser - 03/15/07 10:08 AM
I believe one of the most important people in the transaction to me as a Mortgage Broker is the Appraiser. But not just any old Appraiser, "A Great One!" There are times when I don't even meet a client and the Appraiser is the first person that a client meets. The interaction and … (5 comments)
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california: California Only Real Estate Blog~Want to participate? - 02/27/07 11:36 AM
DON'T MISS OUT ON THIS CALIFORNIA ONLY REAL ESTATE BLOG OPPORTUNITY!!!! CALL ME TODAY at 530-592-8362 or email me at Scott@OakValleyMortgage.com!
Hello Everyone,
As you may have noticed, I've been taking some time off of Active Rain to embark on an adventure. Over the past month, I've been putting a website together, which … (10 comments)
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california: Where's the Benefit? - 02/13/07 11:10 AM
On December 15th of 2006, Bryant Tutus, wrote a blog on the Real Estate Network "Active Rain" labeled, "Your home is your castle, not an ATM machine!"
Broker Bryant brings up many good points within the article, explaining the cycle that many homeowners get caught up into when refinancing their homes. Many ads … (8 comments)
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california: The Power of "Truth" and Seeking to Understand Your Clients! - 01/22/07 08:51 PM
I don't understand why many in my industry can't grab onto the "Power of Truth" and the need to understand a clients' needs! I have received several new calls this week from new and potential clients that are looking to refinance their homes from their once "all time low" payment to … (1 comments)
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california: Demanding a Rate Over the Phone! - 01/18/07 11:25 AM
I received an interesting call yesterday, so I figured that I would share it for the world to see my response...Or atleast possible California clients and Associates :)
The potential client called me and started rambling about random things, I tried to keep some flow to the conversation. In the end, … (24 comments)
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california: Home Loan Documentation Types - 01/16/07 11:56 AM
Are you wondering what types of documentation loans are available? Banks and investors have come up with a variety of loan types to help borrowers qualify easier into home loan and refinance products.
While some may be worried about being able to qualify for a home, you'll be amazed at the … (8 comments)
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california: Taking it to the next level with a new client.. - 01/16/07 11:52 AM
I had a great sit-down today with a new client. She is a First Time Home Buyer that wanted to meet face to face with me...I love it! Back in the old days, transactions were only done in such ways. You could look a person in the eye, listen to their … (2 comments)
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california: Comparing a Mortgage Broker to a Direct Lender - 01/12/07 11:53 AM
Reason: Representation
Mortgage Broker: Fiduciary duty to the borrower to get the best loan possible. Packaging the loan to highlight the strentghs of your loan scenario and minimizing the weaknesses.
Direct Lender: Represents the lender.
Reason: Customization
Mortgage Broker: Offers numerous programs from many lenders and investors at very competitive rates.
Direct Lender: Offers a limited … (28 comments)
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california: Lowballing agent commissions and higballing asking prices! - 01/08/07 04:56 PM
Many asked me this year if there is a way to lowball a real estate agents' commission. My answer is very simple, "You get what you pay for!" If you were in need of a doctor and you were about to go into surgery, would you lowball the doctor? If you were … (3 comments)
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california: Chico,California Housing Market Report For January 2007 - 01/02/07 06:13 PM
Hey Everyone,
Virgil Cole is an awesome Real Estate Agent at Prudential Real Estate in Chico, California and he puts together a comprehensive market report of what has been taking place in the local Chico market over the past few months. He spends alot of time putting together the data and I'm sure … (4 comments)
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