Illinois Mortgage Lender - Keith Hoffman

Derby Fever

Tue, 14 Apr 2009 16:28:34 -0500

The excitement is growing as there is only 18 days until the Kentucky Derby - Number 135.
Fast Horses.....Wild Women...the miles and miles of white fences the crazyness that comes with it all.

I first attended the Kentucky Derby was when I was 18 years old in 1974. It was the most exciting event in my 18 years of life. And with it being the 100th anniversary, it was HUGE! Among the crowds were thousands of crazy people, all there for a multitude of reasons. Here is a little history for the 100th Kentucky Derby:

Largest Crowd in History - 163,628
290 horses nominated
23 Entries to the Derby
Winner - Cannonade in a time of 2:04
Winner's portion of the purse - $274,000
Angel Cordero was the winning jockey
Winning trainer was Woody Stephens

           Pictures Courtesy of Kentucky Derby.com
                          & Churchill Downs

Each year I have attended since 1974 with the exception of 2 years. The experience is sensational and is a must for everyone in their life at least once. .

And yes....that's me in the white sweatshirt holding 2 mint julep glases and having a ball. Man have times changed.

I think i tried to meet every one of the 163,628 people at the track. As I came into the infield, I entered through the tunnel that runs below the track from the clubhouse. This was my first time I had been to Churchill Downs and was walking wall to wall with people screaming, whistling and drinking as they made their way to the infield. At one time, I actually think I picked up my feet and didnt' fall to the ground because there were so many people packed in like cattle. Holy Cow is all I can say!

The Kentucky Derby is the first Saturday in May. Wasn't always that way but many years ago they changed to the first Saturday in May. The first Derby was held on May 17, 1875 and was won by Aristides. Since then many things have changed, including the name of the track from Louisville Jockey Club to Churchill Downs.

My predictions each year are usually pretty good. SO the week leading up to the Derby, I will be posting my picks for this years Derby Winners. Among the names of my hottest horses are:

Freisan Fire....I Want Revenge....Pioneer of the Nile...Papa Clem & Quality Road

Thanks for checking out my Derby Fever blog. Until next week.....May the breeze be behind you and your choices in life be positive!

Keith Hoffman
http://LoansAreFree.com

The Greatest Thing Happened the Other Day

Mon, 13 Apr 2009 08:06:11 -0500

Never under estimate the power of Activerain. As it has been many months since I have been active with Activerain, the real power has just shined through!

The greatest thing happened and that was the phone call. Now we all get phone calls inquiring about real estate or mortgages and some are better than others, but this was great.

As I always do while speaking to a new customer, I always ask how were they referred to me? Usually it comes from a past client, a friend, a family member or a referral from someone in the professsional field but this one was different. This one actually called because they read one of my blogs.

It has been some time since I have blogged and not becuase I don't like to. Just the opposite, I love to. But have been envolved in many things both business and personal that has kept me from blogging. And this referral had read a blog and decided to get rid of their non responsive, unreliable and untrustworthy mortgage un-professional----For Me!

He has just put in an offer ( although low and might need to continue to look ) but is a customer that feels comfortable after visiting with me the other day. What a great thig it is to blog.

Now off to the races with another successful piece of my mind!

The Real Understanding of Today's Markets

Fri, 10 Apr 2009 15:52:38 -0500

With the ups and downs mortgage rates have had in the past few months, now is a good time to take a look at some factors behind how your mortgage rate is decided.

Thawing the Market

Like most financial products, there is a secondary market for mortgages that brings buyers and sellers together. For your lender to keep business moving they will bundle a collection of mortgages into a security and sell it to an investor, usually a bank or government, to replenish their cash so they can turn around and make more loans. Your mortgage rate is directly tied to the demand for these securities.

In the second half of 2008 investors feared the housing market was headed for another fall and begin to further divest their holdings in mortgage backed securities. Demand fell by 17% through the remainder of 2008 leaving an abundance of supply in the market. This meant prices had to go up. Because lenders were selling less, they had to charge more for what they were still selling to stay in business. That increase in price translates to mortgage rates, which in this case, pushed them up to 7% in October.

With investors pulling away from mortgages, the industry began to freeze back up, and so pressure fell onto the federal government to step in and do something. One move was pledging to buy $500 Billion in these mortgage backed securities starting in January 2009, which they have. By buying the market's excess supply, prices were able to come down - mortgage rates are now sitting around 5%.

Stuck in the Middle

The other move the federal government made was to lower their target rate for federal funds, which is the interest banks pay to borrow money from the government. Typically a drop in this rate translates to a drop in mortgage rates too, but that didn't happen this time.

Lenders are currently caught in the middle. On the one side investors, as we saw above, are demanding higher rates because of the perceived risk of buying mortgage backed securities, and on the other side, consumers are demanding lower rates to ease their budgets as the economy recedes.

The problem for lenders is that their business carries the costs of processing and servicing all of these loans (paying staff, sending statements, etc.), so every time rates drop significantly, their operating budgets shrink significantly too. Well, as you've probably already concluded, when the federal funds rate lenders just couldn't pass on the savings this time and instead has to use it to give their business some breathing room to stay afloat.

Down to You

The last factor behind your rate comes down to you. It seems like only yesterday that if you had a credit score of 620+, you got the market price for your rate. Today, however, as we've seen above, investors see more and more risk in buying mortgages, so lenders are trying to ease the market fears by increasing their due diligence on each and every loan they plan to sell.

With that, your credit score is still plays a big role, but now you'll see adjustments to your rate based on how much equity you have or how big your down payment is - the less money in from you, the higher you're perceived risk will be, and so you're rate will be higher. Also, if you're taking cash out or buying an investment property, you can expect to face even more adjustments to your rate, as these two areas were a major contributor to the recent foreclosure wave.

The fact here is that your loan originator is now required to do a lot more research into each loan before they can even give you a quote. At first glance the new rules and adjustments can seem discouraging to many borrowers, but the fact is the market is finding its way through this new economy and, in the end, the goal isn't to turn borrowers away but to slow the process down and insure you have the most suitable product for your needs.

Breaking News-Feds Cut rates by 3/4 point

Tue, 22 Jan 2008 07:26:53 -0600

With all the worlds actions over night, Feds bring down Fed Funds Rate by .75% to 3.50%. Now what that will mean to anyone who has a second mortgage is that home equity loans, which includes lines of credit and second mortgages, will go down. Now will the stocks bounce back at all from the potential free fall that the foreign markets did overnight. I am not sure that will happen for a while.

According to the report on CNBC.com, "The Fed said it was cutting the federal funds rate, the interest that banks charge each other on overnight loans, to 3.5 percent, down by three-fourths of a percentage point from 4.25 percent. The central bank also cut the more symbolic discount rate by three-quarters of a point, to 4 percent".

Mortgage rates are about to take a real low from their past years highs.

Mortgage Pro Week in Review -- 01/14/08 through 01/20/08

Mon, 21 Jan 2008 10:47:05 -0600

I was honored when Jeff Belonger asked me to write this review. It gave me a real opportunity not only to get my name out here, but to really have more time to read about what people are writing about. And holy cow....you all write a boat load about more than anyone really needs to know. It has been time consuming and interesting and worth every minute of my week. THANK YOU!

The first thing I would like to pass on are my blogs that I wrote. Now from everything I have read, and that isn't half of what is out there, there are 2 different thiings to write about. The first is business and promoting yourself. The second is about you and the things you like. So this week I kept it to business and next week I will do a piece on my likes. A theme from meme's group.

Now I do feel that breaking news as long as it correct is one of the best things to read, so I do feel pretty good about the breaking news piece I did last week Bank Of America Buys Countrywide. I know it wasn't in this weeks review but sitting in front of CNBC first thing in the morning had something to do with it.

Then I tried to use the referral portion of activerain which I have never tried...and it worked very well: In Need of Help in New York

Then came You want a 30 yr. fixed at 5.5%/5.579%APR, a self promoting and not shameful blog on my current interest rates. A big welcome to a new member of Activerain, that being Jay Stocki. Ending the week I wrote my piece on THE INTEGRITY SEAL.

The one thing I really do like are blogs that contain more than words. Sometimes when you read on & on & on, it is really difficult to concentrate and absorb all the content. That is why I add pictures. And being a little ADD at times, it helps me move from 1 thing to another. So with no further ado,in no ranking order, lets move right on to Keith's "Top Blogs of the Week"

Things you don't know about people are they have talents & interests outside of work. Check out my first & only "about me" piece by Shawna Marie Ulrich from Charlotte N.C.

1.Unbelievable!! This truly is inspiring... I never knew this about her. You must check out her blog and go right to her songs.

With a lot of legislation talk around Capital Hill, Scott Dovala had a great breakdown on the newest bills in Washington:

2. FHA Bills to Help California Not only is this for California, it will effect the entire country and mortgages.

3. MI TAX DEDUCTIBLE AT LEAST UNTIL 2010! written by Stephany Cruz from Chicago has updated us on changes to MI.

4. New changes for Credit Scoring written by Shawn Gerhardson from Cambridge Minnesota, discusses credit scoring that is a must read.

5. A Case for HR 3609 - Reversing Contagion Effects of the Credit Crunch (Full Text) by Michael Tarabotto of Santa Clarita California writes a very good perspective and blog on the subject.

Now we move to informative blogs. I have read so many of these that it is real hard to report on them all. But I will start here.

6. How Much Does it Cost to Refinance Your Mortgage? was written by Peter Thompson from my own hometown residence of Downers Grove. It all about the refinance! Picture from Peter's Blog

7. Free annual credit report and why it is now so important to know your credit and know your score. Knowledge is power, and money! This was written by Michael Sally of McMurray Pa.

8. Written by Matthew Blum of Palm beach Gardens Florida, MI (Mortgage Insurance) Vs. Sub-Prime Mortgage Programs Things You Should Know is a great article on the comparisons we all need to look at. In addition to this blog, Matthew also has 1 other to look at: Stated, No Doc, No Ratio Home Loans..Think They Are in The Past? Guess Again.

9. Aaron Gorden of the real "Glitter Town" Las Vegas, wrote Fannie Mae's Potential Deal Killer - The Dreaded, Declining Market Box which is all about the changes in appraisals and Fannie Mae chenges effective 1/15/08.

10. Reverse Mortgage have been in the news the past 2 years as something that is a fantastic loan for many seniors. Mary Smartt from Berekely wrote on What is a Reverse Mortgage? While this short & concise, it does touch on things to know. And your link to AARP's Reverse Mortgage Article.

11. Not that I am sucking up to Jeff Belonger, your FHA expert from Cherry Hills, New Jersey, but he wrote an article I think we all need to read. It has nothing to do with mortgages but does hit home for your blogs.Read this if you want to make millions !!! Because of this blog, I have retitled my last blog.

12. I think this is the Best of the Best. The creme of the crop and the icing on the cake. Brian Brady from San Diego wrote:Best Damn Mortgage Crisis Explanation Ever...Period. This sums it all up in a short and concise video.

Now before I leave you for the day, as we move into the heat of the election time, I must let you know that I did read all of these articles, checked out each person's personal pages and as all good politicians say " I approve this message". Please email me and let me know what you think. I appreciate you reading this entire review and have a great week.

The next 3 members who will write this are:

•1. Matthew J Blum 01/21/08 through 01/27/08

•2. Mike Jones 01/28/08 through 02/03/08

3.Not sure at this time !

Mortgage blogs by loan officers Here is a list of Loan Officers. If you are not listed, please email Jeff Belonger to be added. This way the person doing the Mortgage Pro week in review can try and find most mortgage related posts in one section. ActiveRain is growing rapidly and it is difficult to keep up.... If you think you have been ignored, you have not. This is open to all!!!

MORTGAGE PRO Week in Review A repository for the Mortgage Week in Review. Please don't hesitate in joining this group.

Intergrity Mortgage Seal

Sat, 19 Jan 2008 18:00:20 -0600

My name is Keith Hoffman & I approved this message

Thats right......Integrity. And as most industries have national designations, the Mortgage Industry is moving forward with the new designation. Many states are trying to improve on the ethics and professionalism that comes from being a mortgage professional. With this in mind, National Association of Mortgage Brokers is moving forward with this new designation.

Right now there are 2 designations that are recognized througout the country. The first being the CRMS, Certified Residential Mortgage Specialist & the other being CMC which is Certified Mortgage Consultant. Each designation is awrded to an individual that meets each requirement. Here is a brife overvi

Certified Mortgage Consultant(CMC)

NAMB's most prestigious certification. Requires at least five years

industry experience and a minimum of 100 qualifying points

•· Certified Residential Mortgage Specialist (CRMS)

Requires at least 2 years industry experience and a minimum

of 50 qualifying points

•· General Mortgage Associate (GMA)

Entry-level certification. No prior experience needed.

Now we have something that only qualified persons can use. This new seal will only be offered to individuals, not companies the meet all the requirements and you will beging to see ads like this:

For the first time ever, homebuyers have a simple way to assess a mortgage professional - a sign that they can look for before they even step foot in the door.

It's called the Lending Integrity Seal of Approval and those who display it have been through a rigorous validation process. They've pledged to adhere to a strict code of ethics, a best business practices policy, and an ethics grievance review process. They also receive ongoing education and have submitted to criminal background checks.

Make sure you're working with a responsible lending professional. Ask to see your mortgage originator's Lending Integrity Seal of Approval.

The Lending Integrity Seal of Approval is a service of the National Association of Mortgage Brokers.

Simply put, consumers will now be able to seek out individuals that have a percieved value to them by working with an individual who has integrity.

Here is what you need to do to submit in order to get to use the seal:

1. In each state, provide a copy of your state license.
2. Undergo a national backround check.
3. Three business letters of reference.
4. 6 hours of approved state or NAMB approved classes of which 3 hours must be in ethics training, along with an ethics class every other year. (As if they are going to change)
5. Signed Intergrity License agreement.

SOunds pretty simple, doesn't it? Well it should be. If you are in Illinois and don't know about this, please contact the IAMP to get information. If you are in another state, please contact your state mortgage broker association or contact NAMB to get details.

Please remember to deal with a mortgage professional you can trust. There are many of us around. If you need a mortgage professional like myself, please don't hesitate to reach out and contact me.

Please Welcome Jay Stocki

Thu, 17 Jan 2008 11:46:59 -0600

I would like to introduce you to Jay Stocki, one of our newest family members to Activerain. Please welcome him by checking his activerain site out: http://activerain.com/jstocki

Jay and I are part of a networking & leads group called L.O.D.G.E. That stands for Leads Organization of Downers Grove Executives, which is the oldest & most recognized netwroking group affiliated with the Downers Grove Area Chamber of Commerce & Industry.

Jay specializes in real estate investments structured for co-ownership. Things like 1031 exchanges, REITS, Real Estate investment and much more. You can always check out his personal website at:http://www.1031tic.com/

Please welcome Jay to our family by checking him out and saying a big hello!

Thanks....Keith Hoffman
LoansAreFree.com

You want a 30 yr. fixed at 5.5%/5.579%APR

Mon, 14 Jan 2008 20:33:42 -0600

Rates have really come down and as of today- January 14th, we are offering a 30 year fixed rate mortgage for only 5.50% with an APR of 5.579%. Now if my little friend here can come to me without begging, you too can get this rate, as of Monday, January 14th.

This information is provided to assist real estate professionals and is not an invitation to extend credit as defined by Section 226.2 of Reg. Z.

Be sure to get on board before these rates wash away! Many of our customers think they know more than we do. But according to the Real Mortgage Bible, it is difficult to get that crystal ball working all the time and finding the lowest rate of a short term peiod of time.

Be sure to have your customers check out my website for the most up to date information and if you need a RATE QUOTE, just ask.

You can reach me, Keith Hoffman, by Cell Phone at 630-306-LOAN(5626) or in the office at 630-376-0555. I am licensed in Illinois & 27 states and the apr varies from state to state. No Points !

We Are licensed to lend in the following states: Arkansas, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Mexico, North Carolina, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Virginia, Washington, Wisconsin & Wyoming.

An Illinois Residential Licensee

In Need of Help in New York

Mon, 14 Jan 2008 17:02:56 -0600

I am in need of a mortgage lender in New York City. I have a niece who needs a mortgage and I am not licensed in New York. If you are a mortgage lender or know a mortgage lender that can assist me for a purchase in Brooklyn, please email me right away. I will call you and we can discuss the details.

Thanks

Keith Hoffman

Bank Of America Buys Countrywide

Fri, 11 Jan 2008 07:22:53 -0600

It is 7am on Friday, January 11th and the world of mortgages just got turned over.

Bank of America today agreed to buy Countrywide Financial, the largest U.S. mortgage lender, in a $4 billion transaction that could help avert one of the biggest collapses in the U.S. housing crisis.

Rumors have been flying for months ragarding the problems that Countrywide Financial has incurred with all the mortgage woes. Is this the pill Countrywide Needed?

Details according to CNBC, "Countrywide shareholders would receive 0.1822 of a Bank of America share in exchange for each of their shares. The transaction values Countrywide at $7.16 per share, a 7.6 percent discount to the Thursday closing price.".

Many of us in the business have thought this would be coming ever since Bank of America ha s invested in Countrywide a few months ago. This may not be the end to all the problems that Countrywide has, but it will surley help out. All of us will benefit from the steps that the WHITE KNIGHT, B of A have taken.

CNBC quoted "Some analysts aren't convinced Countrywide is out of the woods, though the lender now specializes in smaller home loans that mortgage financiers Fannie Mae and Freddie Mac
will buy that may be less susceptible to default." I am not you convinced that this will cure all that ails Countrywide, but it will really help the forclosure woes that countrywide is not yet over with.

WHat do you think about this buyout? ANy help to the mortgage industry? Let me know!.

The year in reflection

Mon, 31 Dec 2007 09:49:28 -0600

As we move out of 2007 and into 2008, I must reflect a minute on all the good that has happenned in 2007. Now don't get this wrong, there was alot of bad in 2007 and much more than I would like to remember, but I always try and focus on the positive. I just wish I was sitting in one of these chairs on the beach in Mexico right about now.

The Good! - Both my kids are employed. That's right...employed. My son PJ (Philip Justin ) in South Bend, works as the Finance Director for Congressman Joe Donnelly. http://donnelly.house.gov/ and http://www.donnellyforuscongress.com/ A MUST READ As for my daughter Cristina, she is now working at Red Lobster. And the point is they ARE EMPLOYED. I have always encouraged my kids to do whatever they want to do, just be sure you like what you do. As for my duaghter, this is just a stepping stone to getting out of the house and moving to somewhere warm. As we all know, the Emerald City is just outside of our reach at all times.

More Good - My business is still good, but as we all know, it can be much better....AH, the good ole days. I can still remember when I was taking 2 loans a day and trying to still keep up with reaching out to my referral sources.

My health and financial stability is still good,
and as in most years, I have made our company trip to Mexico. Even as a partner of 1st Advantage Mortgage, I also must qualify for the trip. Each year, we take the top producers and significant others on a trip. in 2007 we visited Puerto Villarta.

I am not in this picture but here are a couple of my boys getting primed up to smoke a few Cuban Cigars poolside.

Now tell me from looking at the next picture, who doesn't work at the hotel.... Right...Kim Murphy (one of the Mens Club members & an Activerain member), the one in the middle.

And the gang at the beach cocktail hour.

Great times with friends and becoming President of the Downers Grove Rotary Club. Now that is what it is all about. Bears tickets...Cubs Tickets...Sox Tickets...The Derby...Breeeders Cup...and many more. I am just thankful for everything in my life. Especially my wife for putting up with all my stuff.

I know, like many who have had things go wrong in 2007, that this too will pass. Many Great things to you all for 2008 and remember, this will be a year to look forward to. Have a safe and fun New Years eve and to all those like me who will be in front of the TV watching all the bowl games New Years Day, ENJOY!
Your Friend...Keith Hoffman
1st Advantage Mortgage

Underlying Themes- Must See TV

Tue, 11 Dec 2007 23:01:22 -0600

So I am sitting down watching one of my favorite shows- "Boston Legal" tonight. As many of you know, TV shows many times have Underlying Themes. Now if I can remember, I think this is the fourth season airing on ABC. Tuesday Nights there doesn't seem to have much on tv but this shows the bomb!.

Now if you haven't seen it, you have either been cooped up in a nuthouse with no tv, in jail and can't watch it for one reason or another or you just don't know what you are missing.

Now having a wife who is a High School teacher, tonights epeisode was fitting...."No Child Left behind" was just one part of this underlying theme. One part was dediicated to the crazy notion that "No Child Left Behind" is a benefit and reflects the thought that it only about money and funding. At least that is what I got out of it. Then, after trying to sue the National Guard for not coming to the aid of a business that was flooded out during a storm, Alan and Denny decide that it's up to them to do something about it. Here is a quick clip from tonght's episode: http://abc.go.com/primetime/bostonlegal/index?pn=index

What a cast- James Spader William Shatner Candace Bergan

A new Character this year John Larroquet Gary Anthony Williams

Christian Clemenson Tara Summers Saffran Burrows

and last but not least Taraji Henson.

Now unlike most shows that can be seen on line, ABC has chosen this show not to be one of them ....only recaps. You can go to http://abc.go.com/abc/show to see most of the shows but be sure to check out Boston Legal at http://abc.go.com/primetime/bostonlegal/index?pn=index.

Now before I leave you...you need to know that next week is a very important episode to watch. It pertains to the mortgage business and the emploding mortgage business. Now I don't have an insight on the episode but I am Damn Well Sure it will have an inpact on what is going on here. Now I am not sayin' but I am sayin' that I think we all need to check it out and let me know what you think. It airs on Tuesday nights on ABC from 9pm-10pm central time.

The REAL Skinny on Mortgages

Fri, 23 Nov 2007 17:12:44 -0600

Now that's the ticket....... Just what we all need....Lower Mortgage rates and No Closing Ciosts.

And just where do you think that comes from?

There is no free lunches and no free mortgages!

Someone has to pay for that! And in the long run it comes in the form of higher interest rates for our borrowers. So you ask "How does this work"? It is easy.....As all good lenders do, we must do what is the best thing for our customers?

There is always a cost to No Cost Loans. The cost comes in a form of higher interest rates. When lenders are paid, we are paid based on the amount of money a bank or mortgage company actually pays to buy that loan. For example, if 6.25% were paying the lender 101.5 or 1 1/2 points on the loan amount, then if you rasied the interest rate, the lender will get more revenue. And they can use that extra to either pay for partial or total costs for the borrowers or they can keep it and make more money.

What I have found is this is a science, not something we read in fortune cookies. And as I look to see what really benefits my borrowers, I look at what will it cost them in the long run. Now understand that most of the time, the borrowers do benefit from no closing costs loans. Many times, but not all the times, if you raise the interest rate, lenders will make about 1/2% additional in what we are paid for each 1/4 point. . If we do a mortgage for $300,000, we make about $1500 more which should raise the interest rate from 6.25% to 6.375%. That payment will go up from $1847 per month to $1871 per month. That would be an increase in their payment of $24 per month.

Now simple divide the cost ($1500) by the amount of increase in payment ($24) and that comes out to 62.5. That is the of months it will simplify things, if the borrower will be there less that 62 1/2 months, they should pay the closing costs. If not, take the no closing costs.

It is simple and easy to figure out.

Did you know this? You can find it my my handy book of knowledge.
If you or your borrowers ever need to know how it works for them, just call me & I will be glad to figure things out for you. My cell number is 630-306-LOAN(5626).

You can easily find out payments on my website on my front page or get additional tools with my Fantastic Calculators.

Girl's Only Trip

Fri, 23 Nov 2007 10:18:34 -0600

After reading Kim Murphy's last blog, "Girls Only", I thought that after speaking to my sister, this would be the GIRL's invitation of the century.

Shauna Hoffman ( my loving and most awesome sister ) does a multitude of things in life. One is Murder Mystery Theatre. "Whodunit Productions"

But she has developed a "Girls Only trip" that you must check out. "Guy Free Weekend!". That's right...Guy Free! You can go to the website at http://www.workingonme.com/ or just click on the picture below.

Now this is a Sneak preview of the site and will be added on a daily basis.

Now I'm not sayin'.... but I am sayin' that if you are one of the women who commented on her blog, or you, like Kim who is really one of use in disguise, really wants to take a Girls Week Out, this is something you need to check out.

"It's Cruise Time Baby" A Seven Day "Girl's Only Cruise" on the the Royal Carribean Ship - Vison of the Sea.

Ship Highlights

	Rock-climbing wall
	Themed bars and lounges
	Casino Royale^SM
	Stunning Centrum, an open atrium featuring shopping and more
	Indoor /outdoor pool in a Solarium with a sliding roof
	Outdoor pool
	6 whirlpools
	Adventure Ocean® youth facilities
	ShipShape® Day Spa and Fitness Center

The Dates Are: JUNE 1, 2008- June 8, 2008
Now if you decide to go, all us guys who are left behind (for those who are married) can finally get some golf or fishing in without the women complaining too much.

Any questions can be directed to Harriette at 818-363-4892 or go to the website created for this trip at
http://www.workingonme.com/

So be sure to tell ME if this something you might want to do with all your Girls Friends? Bon Voyage !

Happy Thanksgiving

Tue, 20 Nov 2007 18:44:04 -0600

A healthy and happy Thanksgiving to all my Activerain families and friends! And from 1 turkey to another....
Enjoy, stay safe and don't eat too much....

Ok....Now that I have your attention, I will just want to let you all know how much I enjoy Acvtiverain. It has opened my eyes and peaked my curiosity to the world of blogging. Although I am a novice here, I am learning and give thanks to all I have read from.
Jeff Kessler form The University of Texas (Austin Tx), whom I have learned a great deal. Kim Murphy who got me hooked here. Jessica Horton who always has the greatest blogs, Fran Gaspari who is hilarious in his blogs and Brandon Causey who has added me to his private group ( Jokes and anything fun group.

I am sure I have forgotten some like Stacey Hurley who has awesome blogs on both her sites & Crazy Candace Robinson who is always a hoot! And of course Brad Andersohn who is my tech guru and Obiwan Master! AND I ALSO FORGOT JEFF TURNER....THE BEST!
THANKS!

Your Activerain buddy!
Keith Hoffman

Fannie & Freddie today

Tue, 20 Nov 2007 08:06:01 -0600

This morning in the Money Edition of MSN.com, Reuters had an article headlining Freddie Mac. "Freddie Mac's third-quarter loss widens". In Forbes.com it reads "Shares of Fannie Mae, Freddie Mac Sink". And to paraphrase these articles, Freddie Mac third quarter loses increased greatly to include a 2 Billion dollar loss & Fannie Mae like Freddie Mac, will face big concerns of greater mortgage defaults. That would be a number that includes three comas and 9 zeros.....That's huge!

And you ask how did this happen? I have pondered this and am wondering why so fast? Did this happen over night? Where did all these bad loans come from? Another planet?

Being a loan originator in the mortgage business for over 14 years, where did they think we were going? Lets look at this......A self employed borrower who has marginal credit decides to purchase an investment property with no money down. He also wants to do this at the lowest interest rate to keep his payments to a minimum to be sure to be profitable. Now his income is ok but really wants to do this as a "No Doc Loan" and since his rent will be close to the full mortgage payment, they decide to do this on an interest only loan to keep his income close to the payment. Along with this, they have decided to take an option arm to keep the payments down for as long as they can. They have seen Real Estate soar in value over the years so why not look to making his money on the sale of the property in a few years...............Now what do you think happened?

Let's see.....Values stopped increasing at the fast pace they did, taxes have continued to rise, payments are now coming due and increasing to the point of no return and they can't refinance because Freddie Mac & Fannie Mae finally woke up to the fact that they have been loaning money out to lenders who shouldn't be borrowing. All the problems have caused lenders to change their criteria and raise the standards for lending.

Things have tightened up a lot but recently we have seen the BIG 2 reintroduce programs and open things up a lot. What they have done in many cases is raise the minimum credit scores to be sure that borrowers who have demonstrated good payment history and have not over extended themselves can now get back into the market.

As a creative Mortgage Banker, I look to the near future to see rates come down and a tough home buying future for the next 2 years. If you have someone you would like me to speak to, please don't hesitate to either email me at keith.hoffman@1amllc.com or call me at 630-306-LOAN(5626), or visit my website at http://www.loansarefree.com/

Serendipity.....Fate or Calculated?

Mon, 19 Nov 2007 08:28:36 -0600

Fate or not...There is SERENDIPITY!

Now first of all, I need to clarify something: I am not always so sensitive!
But I couldn't help spending about 20 minutes or so ( maybe 45 ) writing this blog after sitting downstairs having a cup of coffee and watching "Serendipity" this weekend getting ready for FOOTBALL. If you have never seen this 2001 movie, staring John & Cusack (woman's heartthrob) & the beautiful & stunning Kate Beckinsale, you have got to get it.....

Romantic or not, it is such an awesome story & it made me think about what is it really means:

Serendiipity means a natural gift for making useful discoveries quite by accident.

Many times throughout my life time, Serendipity has hit and sometimes I never even knew it or saw it coming and other times, it hit me in a big way. Has this ever happened to you? Some things hit you square in the eye!

You either meet someone by chance and for some reason, you just know you should be in contact with them? Or for some reason beyond our reality, it just becomes something more that just a random meeting. Now I am not saying it always has to be love. It may be a client or a contact for more business. Or maybe not.. Maybe it is a opportunity of some sort or just by chance, something that is important down the road.

Roads move us in mysterious ways.

Many people think that fate is either destined or calculated...What do you think?

The Moral of the Story

Wed, 14 Nov 2007 16:23:37 -0600

A big city lawyer went duck hunting in rural
Tennessee. He shot and dropped a bird, but it fell into a farmer's field on the other side of
a fence. As the lawyer climbed over the fence, an elderly farmer drove
upon his tractor and asked him what he was doing.

The litigator responded, "I shot a duck and it fell in this field, and now
I'm going to retrieve it."

The old farmer replied, "This is my property, and you are
not coming over here."

The indignant lawyer said, "I am one of the best
trial attorneys in the United
States and, if you don't let me get that
duck, I'll sue you and take everything you own.

The old farmer
smiled and said, "Apparently, you don't know how we settle
disputes in Tennessee. We settle small
disagreements like this; with the "Three Kick Rule."

The lawyer asked,
"What is the Three Kick Rule?"

The Farmer replied, "Well, because the
dispute occurs on my land, I get to
go first. I kick you three times and
then you kick me three times and so
on back and forth until someone gives
up."

The attorney quickly thought about the proposed contest and
decided that he could easily take the old codger. He agreed to abide by the
local custom.

The old farmer slowly climbed down from the tractor and
walked up to the attorney.

His first kick planted the toe of his heavy
steel toed work boot into the lawyer's groin and dropped him to his knees.
His second kick to
the midriff sent the lawyer's last meal gushing from his
mouth.

The lawyer was on all fours when the farmer's third kick to his rear
end, sent him face-first into a fresh cow pie.

The lawyer summoned every bit of his will and managed to get to his feet.
Wiping his face with the arm of his jacket, he said, "Okay, you old fart. Now it's my
turn."

(I love this part....)

The old farmer smiled and said,
"Nah, I give up. You can have the duck.

Now the moral of the story must be

Always put your best foot forward...no matter what!

A Thanksgiving Tradition

Tue, 13 Nov 2007 18:21:48 -0600

Everyone has their own Thanksgiving Traditions....
For example, my 26 year old son comes home for the holiday's and every Turkey Day morning, he gets together with his old high school buddies for a frendly but competitive game of football. And of course we need to watch all the NFL games on Thursday:

And this year it will look like this:

Thursday, November 22

Green Bay at Detroit - 11:30 Central Time on FOX (A great divisional game, probably the best of the day)
New York Jets at Dallas - 3:13 Central Time on CBS (Probably a blowout and time to take a nap)
Indianapolis at Atlanta - 7:15 Central Time on NFL Network (A good time to eat some more and have another drink)

Along with the all the fixens

like The Turkey, the stuffings Cranberry Sauce

Sweet Potatoes and of course the pies UUUMMMMMM!

Now for the movies of the day: My Favorite!

Glinda, the good witch of the North and the entire cast
What a movie Classic!

So what do you do? Family.....Freinds.....Let me know, I am always interested in what everyone else does.

Mortgage Extraordinaire

Tue, 13 Nov 2007 16:51:44 -0600

Have you often wondered why you should deal with your "Mortgage Professional"?

Is it their knowledge of the business?

Is it their products & programs they offer?
Or is their Customer Service the promise?

Do they over promise or use cliche's like " Satisfaction Guaranteed" or "We offer the highest degree of Customer Service"? Most people don't even have a clue of what customer service is. And the level & expectations ae different for everyone. Bottom Line........You have to ask!

Now all of us at one time or another have over promised and not delivered. Most of us were either early in our careers or just goofy enough to do it in a spur of the moment. But as professionals, we must take a step forward and do what is right. So here is what I offer my customers:

Honest and up front information
Alternatives to their personal situation
Options to meet their individual needs
Follow up and personal attention
The most up to date technology with on line applicaitons
A professional approach to the mortgage business
3 Individual personal analysis including Identity Theft Assessment, a Full Equity Assessment & a Blended Household Debt Rate Assessment
The abilty to work with a Licensed Loan Originator who continues to educate themselves as a mortgage professional

My mission is to provide the most effective solutions to accommodate my client's current and future financial needs. For Today & Tomorrow! If you would like to work with this type of Mortgage Professional, then I am the guy! I am licensed in 27 states and work as a Mortgage Banker. Check out my websites at www.LoansAreFree.com or http://1amllc.com/HOFFMAN.

And if you are happy or unhappy with your present Loan Originator, let me know what you like or don't like.
Thanks!
Keith Hoffman

What it is...it isn't

Mon, 12 Nov 2007 10:47:55 -0600

How many times have you gone by a gas station and seen the gas prices as you see it here? You see the lowest prices listed on top which is typically the lowest grade of gas. Then you go to the next price and it is a little higher and a step up in grade. And then the highest price with the highest grade of gas listed at the bottom....Just to get you in!

I visited Iowa City this past weekend with a good friend who has 2 girls going to college in Iowa, 1 at the University of Iowa and the other at Mount Mercey just 30 miles from there. And I saw the most bizarre thing...Gas listed at $3.09 per gallon for Super Unleaded. Now that doesn't really shock me but when you go in to fill up and don't look at the pump prices, you may decide to choose the regular unleaded beacuase you think it is cheaper....BUT NO MY FRIENDS! It isn't. I was $3.19 per gallon. And for those of you wjo do things on automatic pilot, Iowa gas pumps are not the place not to think.

ANd have you ever wondered why gas prices go up when crude oil goes up? Well you should go and read this: http://www.howstuffworks.com/gas-price.htm. It may open your eyes.

Just a thought of the day!

Have a great day and week
Keith Hoffman
www.LoansAreFree.com

New York....New York

Fri, 02 Nov 2007 08:28:58 -0500

Have you ever wondered where these cabbies come from, where they learned to drive and how in world they get around like they do?

Well after spending this past weekend in New York and taking cabs to and from places, I had a few crazy experiences with these cabbies. They are unbelievable. They get into the tightest spots and drive through places a motorcycle could barely get through. And the worst one we had last weekend had to yell and argue with a large 300 lb. man who thought he should fight with OUR CABBIE. OUCH! All we wanted to do is get across town.

So last weekend I went to New York City for a few reasons. First & Foremost, the Breeders Cup Horse racing. Now if you aren't a horse racing enthusiast like me, it is like going to the World Series, Superbowl, Stanley Cups finals and the world cup soccer championships...all wrapped in one. Now this was actually held in Oceanport New Jersey at Monmouth Park Racetrack.

What an experience I had wacthing the best of the best,
worldwide running for purses of $2 million to $5 million. They are the best of the best. Now it doesn't hurt that you can sit outside, bet on the ponies, have an ice cold Corona and smoke a big old stogie while you watch your 15-1 shot come in while you have $100 to win on the winner. Now that is is heaven on earth.
The track is an old one hosting the oldest derby in the United States. It may not be the preiest racetrack around but they did a wonderful job making it a welcome place for the fans of racing.This was the view I had from my seats around the first turn.

Now for the most ubscure place to eat that is worth going to if you visit New York City. Now everyone knows that pizza in New york is awesome. It has distintly different tastes from that in Chicago, California and other places aroung the US. But my niece asked if we wanted to go this great burger joint and of course we said yes. If we weren't with here, we never would have guessed.

Google Burger Joint new york and up pops this place. Located at :
118 W 57th St (Between 6th Avenue and 7th Avenue )
New York, NY 10019
Phone: (212) 245-5000.......This is a must to see. And who do we sit next to is Tony Hawk. For those of you who don't know him, he is "THE" Skateboard King. Now imagine this.....you walk into Le Parker Meriden hotel, a fancy and beautiful hotel, to the back behind a wall of curtains to see this:
This is how you know you are there. and you find this hole in the wall bruger joint that is awesome.

Now this place costs about $10 for a burger, fries & coke and it is a must go to for good eats.And their motto is: "If you don't see it, we don't have it". I love that!

MENU
Hamburger Cheeseburger w/lettuce tomato onion sliced pickles mustard ketchup mayo Grilled Cheese French Fries Whole Pickle	$6.50 $7.00 $5.00 $3.00 $1.50	Soda Lemonade Water Milkshakes (after 1:30pm) Sam Adams on Tap Pitcher of Beer Brownie S-T 11:30-11:30 F-S 11:30-midnight Sales Tax included 212.245.5000	$1.75 $1.75 $2.00 $4.50 $4.50 $17.00

If you haven't been to New York City, you have got to go. Whether you like Broadway shows or musicals ( I just saw this one last weekend ) or you just want to see the sites, you need to go to New York City. I just spent the last weekend there and have if you want to get cheaps tickets that range from 35%-50% off, stop by the ticket office located about 8th Ave & 44th. Next to the Marriot you can get in line for these tickets for that evenings shows. It is definatley worth it. We saw Chorus Line for $56 each. SWEET!

And while in New york, you never know who you run into. I loved spending time with my niece Lindsay & her husband Brad. They live on 44th & 9th which is just a few blocks from all the broadway shows and Times Square......we had a blast.

Thanks for checking this out...Love to share a great experience!

Keith Hoffman
www.LoansAreFree.com

Need a Mortgage Professional in Philadelphia

Tue, 30 Oct 2007 08:26:55 -0500

I have a friend who lives in the Chicago area and has parents in Philly that need a mortgage. I am not licensed in Pennsylvania but would like to help. If you are a lender in that area that offers seconds and first loans, please contact me and I will pass the info on. They might need a heloc but probably will need to get a cashout refi.

Thanks
Keith Hoffman
LoansAreFree.com
keith.hoffman@1amllc.com

California Fires & Family

Wed, 24 Oct 2007 07:49:11 -0500

I always I have a hard time looking at what is going on in California and the fires that are always lurking around each corner. And with my family there and having lived in Northern California, I always get very concerned for the families and friends I have there.

I read this snipit this morning from the " National Interagency Fire Center ":

October 23, 2007

The fire situation in southern California remains critical where 12 uncontained large fires have burned more than 335,000 acres. Hundreds of homes and commercial buildings throughout the area have been damaged or destroyed. The Santa Ana winds continue to be a challenge as firefighters work to contain these blazes.

These pictures are featured in the Ventura County Star

And after looking at the locations, there are 14 different fires going on, 3 of which are brand new. My loving sister from Santa Clarita sent me this piece in an email:

Here is a link where the fires are. I live right where the 3 fires are in Santa Clarita. You can actually click on each fire. Put in my address and see how far away the fire is from my house. Or anyone lese you know in LA!
http://abclocal.go.com/kabc/story?section=local&id=5720745
22475 Guadilamar Drive
Santa Clarita CA 91350

Sister Shauna ( know to me as Sue )

With nearly 1 Million people being forced out of their homes, my thoughts and prayers go out to all of them. And to my family ( Shauna & Bert Grimm ) who live in Santa Clarita Claifornia & my Dad, Beverly and the rest of my frineds who live in WestLake Village just over the mountain range from Malibu, and San Diego area and Orange County All my best.

I surley hope that all the readers in ActiveRain keep some thoughts and prayers with those less fortunate!

Keith Hoffman
http://www.loansarefree.com/

Ameridream Loans

Mon, 22 Oct 2007 11:30:50 -0500

FYI, Ameridream has been granted an extension while HUD reviews their litigation.
Contracts must be signed by February 28^th now. Nehemiah is in effect until April 1, 2008

October 19, 2007

UPDATE

At the request of AmeriDream, HUD has voluntarily agreed today that the HUD rule banning seller-funded down payment assistance will not be effective with respect to AmeriDream until February 29, 2008. HUD will recognize all applications that have a signed sales contract prior to the effective date according to Congressional testimony provided by HUD.

This agreement applies only to AmeriDream. AmeriDream will be able to fund gift applications received until February 29, 2008, and will be only one of two entities that may offer seller-funded down payment assistance after October 31, 2007.

This agreement will facilitate litigation on an orderly schedule, and provide the Court with ample time to consider the merits of this important dispute.

As the Gold Standard for down payment assistance, AmeriDream has led this legal fight alone. We will continue to be the source of credible, reliable and timely information regarding this rule as well as all other issues regarding down payment assistance. We will also continue to vigorously defend our ability to provide down payment assistance.

This is about to be a hectic time for some of you and we are fully prepared to meet your needs and assist you with any transition issues that may arise. Please contact your Outreach Representative or Customer Service (or call 1-866-263-7437) for timely and professional service. We look forward to continuing our partnership toward increasing homeownership opportunities for low to moderate income, minority, single parent and first-time homebuyers.

Again, thank you and we are grateful for your valuable support through this process.