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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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)
|
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 … (26 comments)
|
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)
|
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)
|
california: Are You Feeling Lost With Your Current California Home Loan? - 12/26/06 11:56 AM
Are you feeling lost with your current California Home Loan? You don't know when your home loan is about to adjust...But, you know it's soon! You don't know when it is going to "flip to an adjustable rate." You don't know when the prepayment penalty is over from your previous refinance.
Don't … (0 comments)
|
california: California Real Estate and Young Couples - 12/24/06 11:42 AM
Last night, I got into a good discussion with some family and friends about how things have changed in Real Estate...Specifically...For Young Couples!
Over the past few years, there have been some MAJOR changes in the Real Estate Market!
Homes across the United States have doubled, tripled and even increased in some parts … (23 comments)
|
california: Helping Your Clients Relocate to California! - 12/20/06 01:25 PM
This blog is to everyone in the Active Rain community and professionals in states outside of California! If you have clients that are looking to relocate to California from your state and you don't have a resource for them...I would appreciate the opportunity to be it! I own Beach Town Mortgage in Southern … (4 comments)
|
california: Going to bat for clients! - 12/15/06 05:19 PM
Each and everytime we get a new client at Oak Valley Mortgage or Beach Town Mortgage, we go to bat for our clients! What does that mean? Here's a list of things that you can expect from us...
1.) We look out for YOUR BEST INTERESTS! I.E. What are your goals? What are you … (2 comments)
|
california: Going Beyond "The Rate..." - 12/14/06 11:56 AM
Everything in the mortgage industry is geared towards the rate. What are your rates? Who has the best rates? What are the rates doing?
I'm here to tell you that the mortgage industry goes far beyond what the rate is. The rate is just a number! Yes, a number the ultimately determines … (21 comments)
|
california: California Taxes and Insurance - 12/12/06 12:29 AM
The standard rule for estimating monthly property tax and hazard insurance paymentsfor a purchase transaction in the state of California are as follows:Taxes = Purchase price X .0125 / 12Hazard Insurance = Total Loan amount X .0035 / 12.Example 1 - Purchase price = $500,000. Loan amount = $400,000.Taxes = $500,000 X … (2 comments)
|
california: Equal Opportunity Lender - 12/02/06 12:30 AM
Understanding the importance of Equal Opportunity Lending is very important to us in the mortgage industry. It's symbol is much more than an image, which simply represents happy thoughts. Rather, it represents the commitment to not discriminate against our clients and/or potential clients based on race,sex,national origin and a multitude of areas … (2 comments)
|
california: Counterproductive - 11/08/06 01:45 PM
This morning, I tried to start off the day on a productive note. I received the approval from my investor at 5:00pm last night on a file and went to work on getting all of the "prior to doc" and "prior to funding" conditions knocked out. By 7:30am this morning, I … (2 comments)
|
california: Does Your State Flex Its Power? - 11/06/06 07:19 PM
California over the years has become a state that is dependent on thinking "outside the box" to meet the demands of residents in the state in regards to energy. So, what have we been doing for a few years now? A program called "Flex Your Power", which promotes the idea of … (2 comments)
|
california: What are lenders really looking for? - 11/02/06 10:53 AM
Lenders will initially look at:
Employment
Income
Assets
Some kind of credit
Employment - Employment is a critical part of the mortgage application. Being employed continuously for the past two years is helpful. Being in the same line of work is preferred, since it shows that you have been consistent in that field. … (1 comments)
|
california: Over Your Building Budget? - 10/27/06 12:41 PM
I get phone calls from homebuilders from time to time that are in distraught. They sold a home that they owned. Took that cash and decided to build their own dream home after purchasing the land and putting the plans together. The plans get approved by the planning commission or other … (4 comments)
|
california: Personal Growth - 10/26/06 12:25 PM
I think personal growth is one of the most important things that we can do in our lives. If you stop learning and think you "know it all", you're dupped! That's right, dupped!
Yesterday I went and picked up a book at the mall that I have been meaning to pick up for … (4 comments)
|
california: Baby, I Need Your Lovin! - 10/25/06 01:42 PM
I admit it, I'm on a baby binge. My whole life right now, is focused on babies! Babies in the mall, babies at the grocery store, babies on television...Yup, babies, babies, babies....We have our first one on the way in a few weeks and I'm gearing up for it! Am I … (2 comments)
|
california: Signing Loan Docs - 10/19/06 01:08 PM
I'm sure both consumers and Real Estate professionals can identify with this topic, "Signing Loan Documents!"
Have you ever looked through an entire set of disclosures and gotten lost on sentence 2? I believe that the documents are designed in such a way that they know by human nature, you won't read through … (1 comments)
|
california: The Family - 10/19/06 12:04 PM
This blog has nothing to do with Real Estate, but, it's my way of letting people know that I'm an actual human and not just a Real Estate, blogging robot. Or even better than that, a Real Estate Professional that pays someone else good money to blog for them. Imagine that, … (2 comments)
|
california: Free Financial Workshop in Chico on 10/21 @ CSU CHICO! - 10/17/06 12:35 PM
"Grow A Future"
ATTENTION CHICO, CALIFORNIA RESIDENTS!
Are you interested in attending an awesome and FREE Financial Workshop?When: Saturday, October 21st 2006 between 11am - 2pmWhere: California State University, Chico Room: BMU 210
This event is sporsored by Delta Sigma Pi, a Professional Business Fraternity
Topics will include:1. Managing your FICO Score2. Credit3. Debt: Secure and … (0 comments)
|
california: Market Update For Monday 10/16 - 10/16/06 03:05 PM
Mon Oct 16th Market DirectionRates areMoving slightly lower Rate VolatilityLow Interest Rate TrendsLong Term (4-6 weeks)Up Short Term (1-2 weeks)FlatMortgage Point ChangeSecurityChange30 Year Fixed-.115 Year Fixed-.1 U.S. Treasury RatesSecurityChangeYield30 YR Bond-.024.91%10 YR Note-.024.78%National Average Mortgage RatesWeek Ending Oct 12 2006 12:00AMMortgageRatePoints30 Year Fixed6.37%.515 Year Fixed6.06%.51 Year Adjustable5.56%.7Key Interest Rates1 Year T-Bill4.9%11th District COFI4.18%Prime … (0 comments)
|
california: Builder Incentives Getting Aggressive - 10/15/06 10:42 AM
I have noticed a new trend with California home builders, many of them are offering bigger incentives to buyers to buy their new homes. As of recent, I saw a commercial that proclaimed, "no payments for the first 6 months!" The builder was Centex homes and I called the phone number … (2 comments)
|
california: Ice Cream or Buying a Home? - 10/15/06 10:01 AM
So I got a funny email tonight...It's funny how your advertising works out sometimes. I advertise on the bottom page of every page of the local coupon guide in our area. When the person called, I answered the phone as my typical "Oak Valley Mortgage, this is Scott." It caught both … (4 comments)
|
california: Unfair Real Estate Competition? - 10/14/06 01:14 PM
Federal regulators are pursuing claims against two real estate groups in Michigan for not allowing discount brokers full access to their online multiple listing services! The action came after 5 other states allowed discount brokers full access to their online MLS. The FTC said, "the enforcement actions are intended to send … (2 comments)
|
california: California Department of Real Estate Recovery Account - 10/14/06 12:18 PM
From time to time, I like to refresh my memory of various topics or try to get answers to questions that I may have at the California Department of Real Estate website. While browsing through the website, I came across the Recovery Account, which is a "victim's fund." The account has … (2 comments)
|
california: Chili Cookoff! - 10/12/06 02:51 PM
I'm constantly thinking of new ways to do great things within the great community that I live in and at the same time, help to promote our business. I was thinking about it last night, and I use to have a blast going to chili or chowder cookoffs! So, I have … (3 comments)
|
california: The BIG EVENT!! - 10/06/06 08:57 PM
Well, I'm pretty much through my first year as a BIG for Big Brothers Big Sisters and it has been an amazing experience so far! I knew growing up that it was something that I wanted to be involved in and I'm happy that I just decided to go for it. My little … (2 comments)
|
california: Rome Wasn't Built In A Day My Son! - 10/04/06 01:03 AM
I have to admit that I get frustrated in the Real Estate business from time to time. I have now had the mortgage company for 2 years and everyday seems like a new battle. My dad has been in the mortgage business for 29 years now and he has been a … (2 comments)
|
california: Thank You Soldier - 10/02/06 09:32 AM
I don't know your name, but I know who you are
You protect our great Nation and represent a white star
A white star on our flag it is don't you see
To put your life on the line for my liberty
Liberty such as this, to do as I please
Where others in … (2 comments)
|
california: Are Loan Officers Really Villains? - 10/02/06 08:00 AM
After reading the post by Derek and Mariana Wagner and noticing that Loan Officers were number 2 on the top 5 list of people that people hate to deal with, I cringed! I thought to myself, "ME?" Is that the persona that I want placed on myself? Holding a stick of … (6 comments)
|
california: California Home Loans~100% in 1 Loan with NO MORTGAGE INSURANCE! - 10/01/06 10:50 AM
Hey California!
Are you tired of your second mortgage with a high interest rate?
Are you looking to get 100% financing with 1 loan and NO PRIVATE MORTGAGE INSURANCE?
Give us a call and we'll see if your scenario matches some of the great new home loans products that have just … (1 comments)
|
california: A Night Out - 10/01/06 10:36 AM
After going through an entire transaction with my clients, I always like to get them a gift certificate to their favorite local restaurant. Buying or refinancing a home can be challenging sometimes and the stress that it puts on a relationship can be hard. I find that there is no better … (3 comments)
|
california: Southern California Traffic - 09/30/06 10:29 PM
Ok, so I'm in Southern California right now on a combination of business and pleasure. I moved to Southern California (Orange County) in 1990 and the traffic at the time was moderate. After going away to college in Northern California (Chico) and coming back down to Southern California to visit, you … (5 comments)
|
california: Window Shopping - 09/30/06 10:16 PM
Being in the new "buyers market" that we are in, I have heard some interesting stories from agents that I work with. There are "potential buyers" that go out into the marketplace and shop for homes, with no intentions of really purchasing a home, kind of like "window shoppers." In fact, … (6 comments)
|
california: It's a Beutiful Day in the Neighborhood - 09/29/06 12:15 PM
So yesterday was a great day for me and my family. We got to experience our first 4 dimensional ultra sound..All I have to say is, "WOW!" To see little fingers,toes,lips and so on, it reminds you of the important things in life. It is so easy to get caught up … (9 comments)
|
california: A New Era - 09/26/06 11:58 AM
A new era has come to the Real Estate industry. What is it? Ummm yeah, the Internet. And what does that mean? Home seekers are becoming more witty, being able to get information about properties even faster than a lot of the real estate agents that are out there! Many home … (0 comments)
|
california: I DO!!!! Actually, Wait a Sec! - 09/25/06 05:11 PM
This was the top of my friends' wedding cake, which I found hilarious. After seeing it though, it got me thinking about a particular topic that I've dealt with in the mortgage business. What happens when 2 people get married and take everything else into consideration before they say, "I DO" except … (4 comments)
|
california: The Big Cats! - 09/25/06 04:50 PM
The big cats of the lending world have been making it harder over the years for the little fish in the industry. Why? Just watch one of those commercials that makes claims for mortgage products that most people don't even qualify for. And even if you did qualify for that particular … (0 comments)
|
california: Arms Length Transactions - 09/25/06 10:19 AM
Today's Real Estate Term of the Day~
Arms Length Transactions:
Definition- A transaction in which the parties are dealing from equal bargaining positions, neither party is subject to the other's control or dominant influence, and the transaction is treated with fairness, integrity and legality. If discovered by a taxing authority, the absence of … (9 comments)
|
california: Kiss Private Mortgage Insurance Goodbye California! - 09/24/06 10:15 AM
Kiss Private Mortgage Insurance Goodbye California!
Kiss private mortgage insurance goodbye California! I've received new announcements this week from multiple investors, stating that they are doing 100% first trust deed loans with NO MORTGAGE INSURANCE! In the past, investors were doing maxed 80% first trust deeds and 20% seconds to avoid PMI. … (2 comments)
|
california: Unfair Lending Competition and Your Privacy! - 09/23/06 12:00 PM
I've been frusterated lately by a new form of unfair lending competition that has been taking place by mortgage companies and larger lenders. After we pull credit reports for our clients, competitors are paying the credit reporting companies to alert them that a "mortgage" inquiry has been made, be it for … (3 comments)
|
california: Life...The Juggling Act - 09/20/06 06:36 PM
Oh, how life feels like a grand juggling act! But when it comes down to it, the single most important asset we have is TIME! That's right, you can't buy more than is alloted to you or stop it. Regardless of what we do in our daily lives, it continues to move. Through … (2 comments)
|
california: The Often Overlooked Factor! - 09/19/06 12:06 PM
I have learned over the course of time that there is an often overlooked factor in Real Estate transactions and many of the things we do on a daily basis. What is it? The "gut factor!" The gut factor is what your inside tells you is a good or bad situation … (2 comments)
|
california: Have a Great Insurance Agent! - 09/19/06 11:54 AM
Here's some great advice, be sure you have a few great insurance agents to work with. I had a client recently that was paying close to $200 more a month for her existing insurance policy than what my affiliate quoted her at. He drove out to her property and noticed that … (0 comments)
|
california: The Baby Boomers are Coming! The Baby Boomers are Coming! - 09/19/06 11:19 AM
I have noticed a strong trend lately. The Baby Boomers of California are now becoming "Empty Nesters." The kids are out of the house, they don't need all of that space and they are sitting on a property in the Bay area, Los Angeles, Orange County or San Diego and they … (6 comments)
|
california: Kiss PMI Goodbye! - 09/18/06 05:47 PM
Kiss private mortgage insurance goodbye California! I've received new announcements today from multiple investors, stating that they are doing 100% first trust deed loans with NO MORTGAGE INSURANCE. In the past, investors were doing maxed 80% first trust deeds and 20% seconds to avoid PMI. Now you can avoid those higher … (0 comments)
|
california: Where in the world is Chico? - 09/17/06 12:03 PM
Are you looking for a great place to live? I'll tell you about a hidden gem in California, but don't tell too many people! Chico is located 90 miles north of Sacramento, California and home to 105,000 Chicoans. Boasting a "home town college feel to it", Chico is the home to California State University,Chico and … (11 comments)
|
california: Which Direction? - 09/16/06 12:16 PM
One of my favorite things about being a member of the Active Rain Real Estate community is the network I'm growing for my clients' benefit. Think about it, having not necessarily more...but better directions to send your clients is a great thing, adding value to what I do for them. Now I … (0 comments)
|
california: Preparing For the Appraisal - 09/16/06 11:52 AM
Over the years, I have heard many questions about how to prepare for an appraisal. I thought it might be to your advantage to know what your appraiser is looking for, and what you can do to get the most out of your appraisal. Here are a couple of hints:
Make a … (0 comments)
|
california: In the year 2010! - 09/15/06 01:19 PM
Do you have any ideas of what the banks and investors will come up with next in product innovation to get homebuyers into homes? We've seen mortgage loan types that my dad would not have even imagined 25 years ago, but now they are a reality...Zero Down,Interest Only,100% Financing,6% sellers concessions,No … (1 comments)
|
california: Big Fish,Little Fish? - 09/15/06 01:39 AM
I've lived and conducted Real Estate business in two types of areas/markets. In one you feel like a little fish in BIG pond and in the other you feel like a BIG fish in a little pond. I'm curios to see what AR members feelings are about being in each kind of … (3 comments)
|
california: Minorities Pay More? - 09/14/06 08:42 PM
In an article recently posted by James R. Hagerty at RealEstateJournal.com, James explains that African-American and Hispanic borrowers are "much more likely than whites to pay high interest rates on mortgage loans", according to a Federal Reserve study released recently! My first reaction was, WOW! I would not figure that this … (3 comments)
|
california: Curb Appeal - 09/13/06 03:28 PM
In a competitive market where there are many choices for buyers, agents must bring the topic up of "curb appeal" to their clients. Questions such as, "what does the home look like from the front?", and "what will potential buyers first reactions be from the outside?" are VERY IMPORTANT! The home may be beutiful … (4 comments)
|
california: Website Hosting - 09/13/06 02:54 PM
One of the most important decisions that Real Estate professionals need to make is who will do their website hosting. There is a large range of offerings that are out there and comparing and differering their services can be time consuming, but I assure you that it is worth every second! … (0 comments)
|
california: Buyers Market - 09/13/06 02:33 PM
With the influx of homes on the market, things have switched to a buyer's market! So, what does that mean? Well, from the sellers perspective, you need to offer incentives that will differentiate your home from the rest of the flock. You can do so with offering a credit towards the … (2 comments)
|
california: Community Involvement - 09/12/06 10:49 AM
I think community involvement is one of the most important things that each of us can participate in as Real Estate professionals. Everyday, each of us in some way contributes to people moving into our neighborhoods. Helping someone find a home, sell a home, finance a home, insure a home, etc. Participating in … (1 comments)
|
california: MLS to RSS - 09/12/06 10:14 AM
I'm looking forward to finding a website that does a great job at offering an MLS to RSS service...Say what?
That's right, an RSS feed that will update my website in "Real Time" with homes that have just hit the market! Maybe a "New Home of the Hour" or "Just Listed!" link … (4 comments)
|
california: Placing Our RSS Feed On Our Homepage! - 09/10/06 12:28 PM
We have decided to add our Active Rain RSS blog feed onto our homepage. Why? Instead of having a generic website that always comes up, now our blogs will be shown on the homepage randomly, keeping the content new and fresh! The search engines should recognize it because the content will … (2 comments)
|
california: Dinner with Sheree - 09/10/06 12:21 PM
My wife (fiancee then), recently sold her condo, which was an overall smooth experience. I have dealt with many agents so far in this business, but last night I experienced one of my firsts. Her agent, Sheree Darner, invited us over to her house for dessert and coffee after we went … (3 comments)
|
california: Checking Up On Your California Mortgage Broker/Real Estate Agent! - 09/08/06 05:04 PM
Are you wondering who you are dealing with in California? I think it is important to know what the status is of an agent or broker's license! You have the ability to do some research on California brokers and salespeople at the California Department of Real Estate's website. You can do … (0 comments)
|
california: Paying Points - 09/05/06 12:03 PM
Should I Pay Points?
The best way to decide whether you should pay points or not is to perform a break- even analysis. This is done as follows:
1.) Calculate the cost of the points. **Note: 1 point is equivalent to 1 percent of the loan amount. Example: 2 points on a $100,000 … (0 comments)
|
california: Early Bird Catches the Worm! - 09/05/06 11:54 AM
Here's an old saying that I use to hear from my dad growing up, "early bird catches the worm!" This is a phrase that I would not come to understand better than when I grew up and graduated from college...Ahh, the good old days of waking up at noon. But as … (2 comments)
|
california: Closing Costs~Part 2 - 09/04/06 02:30 PM
Closing Costs Part 2
Borrowers typically have 3options for paying closing costs:
Pay all associate closing costs "out of pocket."
Increase your loan amount and have "non-reoccurring closing" costs paid through the loan.
Pay a higher interest rate and let the lender give you a "closing credit" towards "non-reoccurring closing costs."
I will go into … (3 comments)
|
california: Humor of the Week - 09/01/06 05:40 PM
I stayed up one night, pondering what I could do to differentiate myself from the "rat pack". What is the rat pack? The rat pack is the group of companies, all in the same field, that try to gain the acceptance and business of someone or something. In this particular case, … (7 comments)
|
california: Active Recruitment - 09/01/06 05:02 PM
Holy Cannoli!
Since I've been on Active Rain, I've been contacted by close to 30 companies over the past week...Each one of them is trying to recruite me and offering incentives and packages to start working with their company. Each one has a "much better" offering than the next. I'm here to … (6 comments)
|
california: Zero Point/Zero Fee Loans (Part 2) - 08/30/06 01:59 PM
Zero Point/Zero Fee Loans (Part 2)
What are the benefits of a zero-point/zero-fee loan?
The main benefit is that you have no out-of-pocket costs. As a result, if the rates drop in the future, you could refinance again even for a small drop in rates. So if you refinanced on the zero-point/zero-fee loan to … (0 comments)
|
california: Zero Point/Zero Fee Loans (Part 1) - 08/30/06 01:56 PM
Zero Point/Zero Fee Loans Explained
What happened to the conventional wisdom of waiting for the rates to drop 2% before refinancing?
You have a 30-year fixed loan at 8.5%. A loan officer calls you up and says they can refinance you to a rate of 8% with no points and no fees whatsoever.
What a … (1 comments)
|
california: My thoughts on Active Rain - 08/27/06 07:54 PM
I'm very excited about the potential of this website. I see it as a place where everyone can help each other out with vaious topics, because as we all know....no two transactions are alike. I have learned quickly in the Real Estate industry that even with experience, you continuously run into … (2 comments)
|
;)
Links;)
Tags (Tag Cloud);)
Archives
