Skinned in the Game: Washington's Wrong Plan to Right the Housing Market - 05/31/11 02:45 PM
Skinned in the Game:  Washington's Wrong Plan to Right the Housing Market
Would you please cover your left eye and read the letters on this chart?

Great.  Now that we have been able to indentify some of the legislative, regulatory and economic absurdities foisted upon the real estate and mortgage markets since 2007/2008, it's time to move on.  That's right.  No more crying over spilled milk.
What I want to talk about here is Washington's bent towards this concept of "skin in the game," the apparent panacea for housing's woes.
The theory goes like this:  Buyers who have a vested (onerous?) interest in the … (5 comments)

California Mortgage Rate Update: 05/31/11 - 05/31/11 02:02 PM
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Weekend Availability + How Soon Before They Can Buy Again? - 05/29/11 03:30 PM

Rob Spinosa, RPM Mortgage     877.270.5959     rspinosa@rpm-mtg.com


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This Memorial Day, We Shall Keep the Faith - 05/29/11 11:33 AM
"We Shall Keep The Faith"
Oh! You who sleep in Flanders' fields,Sleep sweet - to rise anew;We caught the torch you threw;And holding high we keptThe faith with those who died.We cherish, too, the Poppy redThat grows on fields where valour led.It seems to signal to the skiesThat blood of heroes never dies,But lends a lustre to the redOf the flower that blooms above the deadIn Flanders' Fields.And now the torch and poppy redWear in honour of our deadFear not that ye have died for naughtWe've learned the lesson that ye taughtIn Flanders' Fields.
~Moira Bell Michael
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5 FHA Rules That Buyers & Sellers Need to Know About Flipped Properties - 05/29/11 11:21 AM
Five things to know about flipped properties, and put in a format that is easy to understand and reference.  If your buyer or seller falls wiithin these parameters, the other party in the transaction should be prepared.
Via Michael Deery (Citywide Financial Corp):
Buying and selling flipped properties can be a real pain in this market. For example, did you know that lenders require a 2nd appraisal on flipped properties where the seller is making more than 20% within 90 days and is selling to a FHA buyer, and the buyer is not allowed to pay for this 2nd appraisal? Last month over … (0 comments)

First Class Architecture in Marin County, CA - 05/28/11 03:00 PM
 First Class Architecture in Marin County, CA
For the last couple of years I have had the distinct pleasure to know, and work with, architect Dean Jones out of Tiburon, CA.  I believe it is always worth pointing out great service, and in this case, I have both witnessed and experienced this service standard and the superior craftsmanship of his work.
If you are currently seeking an architect in Marin County, CA, or perhaps in other locations in the US and/or Mexico and Canada, Dean is a great person to contact and know.  In addition to being an artist and professional … (0 comments)

Short Sales, Bankruptcy, Foreclosures and Re-Qualifying for a Home Loan - 05/27/11 04:17 PM
"How Long Must I Wait After a Bankruptcy, Foreclosure or Short Sale?"
A better question for all of us in Real Estate might be, "How many times have we heard this question in the recent past?" 
They say in marketing circles that if your customers ask you the same question three times or more you should do something about it.  So I did.  This video (1:48 in length) covers the important basics about the waiting periods that are required before which a buyer who has experienced a bankruptcy, foreclosure or short sale (including deed in lieu) would again become eligible for … (0 comments)

"Now I See Where This Is Going..." The Dodd-Frank Comp Reform Plans Meet the Battlefield - 05/23/11 10:22 PM
"Now I See Where This Is Going..."  The Dodd-Frank Comp Reform Plans Meet the Battlefield
As many Real Estate professionals know, if not care, the ways in which a mortgage loan originator (MLO) can be compensated changed drastically on April 1, with the implementation of the Dodd-Frank financial reform bill.  The MLO/client relationship had to be substantially retooled in order to assure that both the financing could be completed to the client's/transaction's needs, and that the loan officer could get paid.  Depending on the institution for which the MLO works, and the infrastructure of that entity, the compensation plan might be more or less flexible --- some allowing … (3 comments)

California Mortgage Rate Update: 05/23/11 - 05/23/11 12:14 PM
Below are today's interest rates for RPM's loan programs.  For specific pricing on your scenario, and to get pre-approved without cost or obligation for any of these loan products below, simply call 877-270-5959 or send an e-mail to rspinosa@rpm-mtg.com.  Access The Mortgage Dictionary on YouTube to view short videos that define and explain the most important terms and concepts in home financing.  All pricing below is at 0 points unless otherwise noted:   Conforming Loans (up to $417,000)   30-Year Fixed Rate:  4.500% APR:  4.524%   15-Year Fixed Rate:  3.750% APR:  3.784%   7/1 ARM Rate:  3.375% APR:  3.556% 5/1 ARM Rate:  3.000% APR:  3.269%   FHA 30-Year Fixed (96.5% Financing)   … (0 comments)

Weekend Availability + $729,750 Swan Song? - 05/20/11 04:35 PM
California Real Estate Professionals,  I will be available this weekend to assist with your clients' pre-approvals, offer letters and home loan questions.  If I can be of service, feel free to reach me on my cell phone at 415-367-5959, or by e-mail at rspinosa@rpm-mtg.com.  Buyers can click HERE to complete a pre-approval application.The chart below talks about the conforming-jumbo loan limit change we will likely see in October.  While it is easy to resign in confusion/frustration over another of Washington's misguided attempts to "fix" our housing market, there is much work to be done for our buyers and sellers regarding this particular … (0 comments)

Marin Runs at the San Rafael Mile on June 5! - 05/18/11 10:36 PM
Marin Runs at the San Rafael Mile on June 5!
Come on out on June 5th and join us at the 2nd running of the San Rafael Mile.  How fast can you run one mile???  Be part of the fun with family, friends and a handful of four-minute milers as the excitement heats up right in the heart of downtown San Rafael.
 2011 USATF Pacific Assocation Mile Championship     
Time Schedule6:30 am: Race Day Registration Opens                                        7:45 am: Senior Women (50 and Over)8:00 am: Senior Men (50 and Over)8:15 am: Master Women (40 to 49)8:30 am: Master Men (40 to 49)8:45 am: … (0 comments)

Realtors w/ Homes Listed Between $780K and $950K, I Want You! - 05/17/11 02:21 PM
Realtors w/ Homes Listed Between $780K and $950K, I Want You!

As we go into the remainder of the spring buying season and onto summer, I noticed that here in Marin County there are approximately 100 homes listed for sale in the price range between $780,000 and $950,000, so I wanted to reach out to every listing agent who has a property on the market in an area where we have been able to take advantage of the Fannie Mae hi cost loan limits.  You may be thinking, "Why is a mortgage professional interested in contacting the seller's agent instead of the buyer's?" Here … (0 comments)

California Mortgage Rate Update: 05/16/11 - 05/16/11 01:02 PM
Below are today's interest rates for RPM's loan programs.  For specific pricing on your scenario, and to get pre-approved without cost or obligation for any of these loan products below, simply call 877-270-5959 or send an e-mail to rspinosa@rpm-mtg.com.  Access The Mortgage Dictionary on YouTube to view short videos that define and explain the most important terms and concepts in home financing.  All pricing below is at 0 points unless otherwise noted:   Conforming Loans (up to $417,000)   30-Year Fixed Rate:  4.500% APR:  4.524%   15-Year Fixed Rate:  3.750% APR:  3.784%   7/1 ARM Rate:  3.500% APR:  3.699% 5/1 ARM Rate:  3.000% APR:  3.269%   FHA 30-Year Fixed (96.5% Financing)   … (0 comments)

California Mortgage Rate Update: 05/09/11 - 05/09/11 04:46 PM
Below are today's interest rates for RPM's loan programs.  For specific pricing on your scenario, and to get pre-approved without cost or obligation for any of these loan products below, simply call 877-270-5959 or send an e-mail to rspinosa@rpm-mtg.com.  Access The Mortgage Dictionary on YouTube to view short videos that define and explain the most important terms and concepts in home financing.  All pricing below is at 0 points unless otherwise noted:   Conforming Loans (up to $417,000)   30-Year Fixed Rate:  4.500% APR:  4.524%   15-Year Fixed Rate:  3.750% APR:  3.784%   7/1 ARM Rate:  3.500% APR:  3.699% 5/1 ARM Rate:  3.125% APR:  3.371%   FHA 30-Year Fixed (96.5% Financing)   … (0 comments)

California Weekly Mortgage Rate Update: 05/02/11 - 05/02/11 02:49 PM
Below are today's interest rates for RPM's loan programs.  For specific pricing on your scenario, and to get pre-approved without cost or obligation for any of these loan products below, simply call 877-270-5959 or e-mail rspinosa@rpm-mtg.com.  Access The Mortgage Dictionary on YouTube to view short videos that define and explain the most important terms and concepts in home financing.  All pricing below is at 0 points unless otherwise noted:   Conforming Loans (up to $417,000)   30-Year Fixed Rate:  4.750% APR:  4.774%   15-Year Fixed Rate:  4.000% APR:  4.034%   7/1 ARM Rate:  3.500% APR:  3.699% 5/1 ARM Rate:  3.250% APR:  3.460%   FHA 30-Year Fixed (96.5% Financing)   … (0 comments)

 

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Understanding California Real Estate Taxes

Can I Get a Cosigner on a Mortgage?



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