Don't say I didn't tell you so! - 03/27/12 10:41 AM
Good morning! I hope you're well. We're back to the rain here after a very nice and sunny weekend. I was thinking this morning about mortgage interest rates and trending with the upcoming Presidential election in November. Thus the title of my post "Don't say I didn't tell you so!"
As many of you are aware, mortgage interest rates have been at or near all-time lows for quite some time now. The thing that usually happens after a new President is elected is interest rates rise. It's happened in the past and I expect it to happen again. I don't actually remember … (0 comments)

How You Can Detox Your Business….. Here are 10 ways. - 03/26/12 04:30 PM
These are some great tips. We all stagnate at times. Yet I think it's important we keep on going. However we do this isn't important. Enjoy the read!
Via www.DaveYourMortgageGuy.com, FHA, VA, USDA, HomePath, Jumbo:
Recently my fiancé was nice enough to introduce me to the detoxing process.  As we all know this is a process to clean your body of toxins.  Don’t get me wrong there were ups and downs, but when it was over I feel great.  And I had more energy and was recharged.  This process got me thinking, can we Detox our business.  I think we can and here … (5 comments)

HARP 2.0-one week in or what I've learned so far! - 03/26/12 10:09 AM
Good  morning! I hope your week is off to a bang up start and that you had a great weekend!
I wanted to update you on what I've learned about the government's massive new refinancing initiative known as HARP 2.0. To refresh your memory, HARP 2.0 is the plan to allow homeowners who are upside down on their mortages the ability to refinance.
As with anything here are the caveats:
1) Your loan must be owned by either Fannie Mae or Freddie Mac and purchased before May 31, 2009. If your loan isn't owned by the two big entities you're out … (0 comments)

HARP 2.0-the devil is in the details! - 03/21/12 04:17 PM
We are now 48 hours into the new release of HARP 2.0, the government's latest effort at helping people refinance who are upside down in their mortgage. But the devil is in the details!
Here is what is coming true. If you have a mortgage owned by either Fannie Mae or Freddie Mac, you may be able to refinance with no regard to loan-to-value (meaning you could be a loan-to-value of 150% or more) and lower your existing rate.
With Fannie and Freddie owning an estimated 56% of the mortgages out there, there is opportunity. But your mortgage must have been … (7 comments)

Will HARP 2.0 become HYPE 2.0 instead? - 03/15/12 12:15 PM
Good morning! Welcome to windy and rainy Seattle!
I was thinking will HARP 2.0 become HYPE 2.0 instead?
As many of you may be aware, a brand new program called HARP 2.0 will be debuting on Monday. Among the highlights are the ability for homeowners to refinance their mortgage even if underwater with no regard to loan-to-value. The caveat is the mortgage has to be owned by either Fannie Mae or Freddie Mac (currently 56% of the mortgages owned nationwide are owned by one of these two entities) and must have been originated before June 1, 2009 (If I'm wrong about … (4 comments)

Apartment construction is booming in Seattle, WA! - 03/13/12 09:58 AM
Good  morning! I hope you're well! I was reading in The Seattle Times today about how apartment construction is booming in the Seattle area. 
According to Dupre and Scott there are over 20,000 units in the planning stage here in the greater Seattle area. It is a record number that are planned to be built. Everywhere you go in Seattle there are construction cranes putting up apartment towers. It's pretty amazing.
What has led to this unprecedented boom? I think it's a couple of things. One, the apartments are being built in densely urban areas where a lot of young people live and work. … (4 comments)

Is the Principal Reduction Idea a good one? - 03/12/12 01:08 PM
Hi there: I hope you're well. We're still looking for sun here. Oh well!
I was reading this morning about the proposed principal reduction idea being floated. In a nutshell, it would allow homeowners to have their principal balances reduced to at or closer to what their home is now worth. Ironically the two biggest naysayers are Fannie Mae and Freddy Mac.
The opinions shared in the article were in favor and felt that the two big entities were short-sighted. Fannie Mae and Freddy Mac believe they need to protect their investor's outlay of $150 billion.
What are my thoughts? I think … (4 comments)

20 Tips to Buying a New Construction Home - 03/09/12 12:34 PM
This is great information from Gabrielle Nemes. Thanks Gabrielle! I think new construction can be very enticing to buy these days but this checklist makes sure you do it right. Enjoy the read!
Via Gabrielle Nemes (RE/MAX Select R.E.):
Buying a new construction home is a bit different than purchasing a resale home – one that's been previously owned by someone else. You'll need to be familiar with a few tricks of the trade, along with understanding a bit about how the process works. These 20 tips to buying a new construction home are just the starting point on your way to the … (4 comments)

 
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Paul McFadden Mortgage Loan Officer Bellevue Washington Home Loans

Bellevue, WA

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The Legacy Group, a division of WJ Bradley Mortgage Capital

Address: 11225 SE 6th St. #110, Bellevue, WA, 98004

Office Phone: (425) 818-2251

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