Failed Closings

Conforming Loan limit change is on it's way to the President

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Fri, 08 Feb 2008 16:21:19 -0600

Friends, the way we do business is about to change dramatically. With lightening speed, the Senate took the House bill regarding increasing the conforming loan limit from $417,000 ... made some modifications ... sent it back to the House ... and it was approved within one hour! President Bush has already agreed to sign it! The bill states the conforming limit will increase to 625,000 nationwide ... and up to 730,000 in high-cost areas! To learn more on how this will help you send me an email: roy.bhiro@wellsfargo.com

To Refinance or to Not Refinance? That is the question.

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Mon, 07 Jan 2008 19:59:56 -0600

Here are my simple rules to determine if you should refinance.

...Do you have an adjustable loan?

...Is your rate currently adjusting or will begin adjusting within 12 months?

...Do you want to reduce the rate and or length of your loan?

...Do you want to lower your payment?

...Do you pay PMI/MIP/LPMI and you now have at least 20 to 22% equity in the home now?

...Do you want to consolidate current bills?

...Do you have need for cash for a major event, i.e. (college, wedding, new car, medical)

...Do you need to improve your current property? (renovations or additions)

...Investment. (second home, investment property)

...If you own multiple properties, consolidate mortgages to improve Tax benefits.

...Finally, if current rates are half a percent lower than what you have and you intend to be in the home beyond the break-even point. (call me for a FREE break-even analysis and current interest rates)

If you answer "yes" to any of these you should consider refinancing with a mortgage expert who is reputable? I proved FREE one on one consultation to my clients so they can make an informed decision about one of their largest financial transaction. Call 609-631-2949

Are you positioned to capitalize on this changing market?

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Mon, 07 Jan 2008 19:17:40 -0600

Wells Fargo Well Positioned in Current Mortgage Market

Financial Strength, Prudent Lending Practices

With the housing and real-estate lending industries in the news frequently, many REALTORS® and their clients may find themselves with questions and concerns about the availability of mortgage financing. Wells Fargo Home Mortgage would like to assure real estate professionals and prospective homebuyers that Wells Fargo remains committed to serving homebuyers and homeowners. It's important that REALTORS and their clients know that Wells Fargo continues to be in the business of making new residential mortgages, commercial and home equity loans. We continue to welcome a growing number of customers who seek a sound, responsible mortgage and home equity lender and servicer, and we continue to be one of the industry leaders in providing high-quality products and services. A number of factors position Wells Fargo to succeed in the current environment: To demonstrate our commitment to you, we offer a closing guarantee unlike any other. If it is our fault we fail to meet the closing date, we will pay your client's first month's mortgage. (*) If you are looking for a solid company, that will add value to your business while maintaining a high level of commitment, integrity and trust to you and your clients, please call me TODAY! Yes, I do both residential & commercial mortgages.

WFHM now allows VA loans up to $700,000

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Sat, 24 Nov 2007 13:49:42 -0600

Did you know that effective 19 Nov 07, eligible veterans seeking a VA loan can now get VA backed loans up to $700,000 and with an exception can go as high as ($1.5 million), considered on a case-by-case basis. This is a great opportunity for us to get our veterans great rates without taking them into the Jumbo programs. If your lender doesn't know how to help you call me! 609-631-2949

Changing Uniforms...

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Sat, 24 Nov 2007 13:13:54 -0600

Dear Friends and Colleagues,

As you know these are uncertain times in the mortgage industry. Being extra cautious for your clients sake, is what we share in common. You need the assurance that once your clients find their home, sign the contract, get the inspection and appraisal done, their lender will still be there. That is exactly why I have chosen Wells Fargo.

Over the years you have come to know and expect the following from me
    ...A professional with a proven track record of top quality service, who cares and listens.
    ...Solid reputation for service and dedication to all my clients.
    ...Innovative and tailored home financing solutions for all circumstances.
    ...A wide array of products to meet the needs of the most discriminating or challenging client.
    ...Quick and timely decisions with pre-approvals that are credible.
    ...Conducts business in almost any language!

My goal is simple to exceed all my client's expectations with unparallel service rooted in mutual trust, integrity, and cutting edge education and training to enable them to make the best financial decision in a changing market, while securing your role as their trusted advisor.

Today I continue to fulfill my promise to you by aligning with the nations leading retail mortgage lender. Equipped with the financial strength and resources of Wells Fargo Home Mortgage, I look forward to continue to make your clients home ownership dreams come true.

H. Roy Bhiro, USAF Retired
Senior Mortgage Consultant
Wells Fargo Home Mortgage
950 Route 33 West
Hamilton, NJ 08690
609-631-2949 Tel
609-351-3619 Cell
866-359-4063 eFax
roy.bhiro@wellsfargo.com
http://www.royhomeloans.com/

Mortgage Partnership

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Thu, 20 Sep 2007 13:23:17 -0500

As the Real Estate and Mortgage industry contracts, many benefits such as aggressive market products and services, and general customer friendly programs have disappeared. This however, does not have to be so. As lenders combine forces and some exit the business, there is tremendous void created for the general consumer and business partners. This is the time when solid partnerships are forged and the opportunity to create strong alliance with people who will enhance your business and exceed the expectations of your clients. I am fully engaged, in all aspects of our market and I am committed to forge a symbiotic relationship with real estate professional, attorneys, CPA's and accounts in NJ, NYC and Philadelphia PA area. If you have any situation that requires immediate action or if your lender has exited the business, I would be honored to meet with you to explore our options for a mutual beneficial business relationship. . ---609-351-3619

Changes to VA Loan Limits --- Increases Homeownership Opportunities for Veterans

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Thu, 20 Sep 2007 12:37:29 -0500

Ginnie Mae announced in August 07, that it has eliminated the $417,000 home loan limit for VA loans. However this new policy does not change the current VA guaranty loan limits or rules. This change will expand the availability of low-cost financing and increase opportunities for homeownership to our veterans.

One of the best features of doing a VA loan is that there is no down payment required for eligible veterans up to $417,000, or less. The next best feature for the veteran is they only have to come up with 25% of any amount above $417,000. For example, a veteran purchasing a home valued at $500,000 will have to put $20,750 as a down payment. ($500,000 minus $417,000 equals $83,000 multiplied by 25% equals $20,750). So his loan amount will be $479,250. Great opportunity for our veterans!

If you should have any questions about these changes or would require any assistance for your veteran clients please call. As a veteran myself, I am able to leverage information and contacts at different organizations to expedite the sourcing and processing of veterans issues.

H. Roy Bhiro, USAF Retired

Brokers Limitations

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Thu, 23 Aug 2007 15:24:05 -0500

As many of you are aware, many lenders are re-evaluating their guides and many have halted some if not all their wholesale business with Brokers until further review. If you were going anywhere other than directly to the Top 5 lenders to get a loan from them you should call me ASAP.

Failed Closings--Funding Problems?

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Thu, 23 Aug 2007 15:10:03 -0500

Moving Buyers to Buy in a Buyers Market

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Wed, 22 Aug 2007 20:25:18 -0500

Dear Colleagues,

I am interested in developing a course for Real Estate professions to help them better deal with our changing markets. Many of my business partners have expressed frustration with the lack of commitment and enthusiasm on the part of home buyers to take that final step. Since I will be conducting the research and assisting with the course development I'd appreciate some feedback from the field on the following...

What objections are you getting from clients for not wanting to move forward?

What strategies did you employ that were successful?

What areas of concerns do you have that you would like assistance with?

PMI-Tax Deductable in 2007

H. Roy Bhiro, USAF Retired (Wells Fargo Home Mortgage) — Tue, 31 Jul 2007 08:47:56 -0500

Previous to Jan 1, 2007, MPI was viewed as a negative or necessary evil; however, with the new changes to the program, it is now a positive and win-win for our clients. If you closed on a mortgage which includes PMI (Private Mortgage Insurance), it is tax deductible if your closing was between 1 Jan 07 and 31 Dec 07. ---At the moment this program is not permanent, but Congress is working on it to make it permanent by the end of the year. ---Call me for more details. 609-689-7604