nevada mortgage loan: Stated Income Loans In Nevada - 10/22/07 12:04 PM
Many people have inquired about the ability to do Stated Income Loans in Nevada due to the recent Assembly Bill 440 that was passed and went into effect on October 1, 2007. 
The answer is Yes I can still Stated Income Loans in Henderson, Las Vegas, and all of Nevada!
Just to clarify, Five … (5 comments)

nevada mortgage loan: Thank You Active Rain: Another Success Story! - 10/11/07 06:18 PM
I just wanted to share with everyone another Active Rain success story.  About six weeks ago Active Rain delivered a wonderful client to me while I was fast asleep.  She had found one of my blog posts, which I believe was Another 100% Financing Program Available: The Community Accomodation Loan.  After reading … (13 comments)

nevada mortgage loan: Fast Mortgage Refinance Quote's & Home Purchase Pre-Approval's - 10/11/07 02:56 PM
Homeowners and Potential Homeowners: 
Contact me right away for a Mortgage Refinance Quote's & Home Purchase Pre-Approval's from your Las Vegas, NV Mortgage Loan Officer, Rey "Steak Dinner" Gallegos.  Approved in NV, NM, UT, CA, FL, & AK!  Currently the mortgage industry is in transition so you need an experienced, trusted Loan Officer … (0 comments)

nevada mortgage loan: September Foreclosures FALL: Mortgage Industry - 10/11/07 01:58 PM
September Foreclosures FALL: Mortgage Industry 
More foreclosure news to publicize but this time it is positive!  According to RealtyTrac in September 2007, all foreclosure categories were down, which include default notices, auction sale notices and bank repossessions, with 39 states reporting decreased activity.  What exactly does this mean?  Well in my opinion … (5 comments)

nevada mortgage loan: Home Lending Direction "Flight to Quality": Mortgage Industry - 10/09/07 05:21 PM
Home Lending Direction "Flight to Quality": Mortgage Industry
I have to say that I have never heard anyone say that an Industry has taken a "Flight to Quality".  In the following story, from bloomberg.com Bank of America is said to gaining strong market share in the mortgage industry.  It is no secret … (0 comments)

nevada mortgage loan: Ventana Canyon Communitywide Garage Sale a huge success! - 10/08/07 02:51 PM
Ventana Canyon Communitywide Garage Sale a huge success!
I just wanted let everyone know that our Ventana Canyon Communitywide Garage Sale was a huge success this past weekend!  We started around 7 am and the sreets were packed with garage sale enthusiasts!  We had upwards around 150 homes participate with sales, which … (5 comments)

nevada mortgage loan: More Alternatives to Foreclosure - 10/05/07 02:43 PM
More Alternatives to Foreclosure:  Mortgage Industry
I am passionately searching for options for people that are in danger of losing their homes.  I beleive it is important for Mortgage and Real Estate Professionals to reach out in any way we can to help these people.  Here are a couple more programs that I … (0 comments)

nevada mortgage loan: Mortgage Brokers to Blame? Yeah Right!: Mortgage Industry - 10/04/07 11:38 AM
Mortgage Brokers to Blame?  Yeah Right!: Mortgage Industry
OK folks, the following story from the Los Angeles Times cracks me up and makes me sick to my stomach at the same time! 
U.S. Taking Aim at Brokers by Los Angeles Times (10/04/07); Peterson, JonathanSeveral pieces of legislation that addresses the problems in the mortgage … (1 comments)

nevada mortgage loan: Manhattan Housing Boom: Real Estate Industry - 10/04/07 10:33 AM
Manhattan Housing Boom: Real Estate Industry
This is a great story from CNNMoney.com that shows the Real Estate Industry is not quite as dire as the media would like for us to believe.  Aside from some troubled pockets in the US there are MANY, MANY strong markets.  Manhattan is one of the … (0 comments)

nevada mortgage loan: Why are Builders & Their "In House" Lenders Free From Regulation: Mortgage Industry - 10/03/07 01:55 PM
Why are Builders & Their "In House" Lenders Free From Regulation
This is something that really gets my blood boiling.  New home builders and their "In House" lenders don't seem to have to follow the same rules as the rest of us! 
To start with how can they require a buyer to use … (9 comments)

nevada mortgage loan: Stated Income Documentation: Nevada Mortgage Industry - 10/02/07 11:02 AM
Stated Income Documentation: Nevada Mortgage Industry
For those of you that do not know, the State of Nevada has severely crippled Banks, Lenders, and Brokers ability to do Stated Income and Low or No Doc Loans with Assembly Bill 440.  This bill has actually prompted banks like Credit Suisse to threaten to … (1 comments)

nevada mortgage loan: FHA Bans Gift Down Payments with One Exception: Mortgage Industry - 10/02/07 01:11 AM
FHA bans Gift Down Payments: Mortgage Industry
According to the following story, FHA has decided to no longer allow Down Payment Assistance (DAP) programs.  This basically requires borrowers to have the 3% down payment required for FHA loans.  Before, you could use one of several DAP programs to subsidize the 3%, which … (39 comments)

nevada mortgage loan: More Help to Avoid Foreclosure: Mortgage Industry - 10/01/07 02:27 PM
More Help to Avoid Foreclosure: Mortgage Industry
Below you will find two more resources to help you or people you know that are at risk of losing their homes due to ARM Adjustments or for any other reason.  It is important that we get this information out to everyone we can so … (2 comments)

nevada mortgage loan: Things you NEED to know about Mortgage Loans and the Mortgage Industry! - 09/28/07 10:48 AM
Hello everyone!  I just wanted to notify everyone that I have launched a new Mortgage Resource! 
Mortgage Loans on the Million Dollar Wiki!
http://www.milliondollarwiki.com/Mortgageloans
I have designed this site as a FREE resource for Consumers, Real Estate and Mortgage Professionals alike.  I focus on the nuts and bolts of the Mortgage Industry as well … (1 comments)

nevada mortgage loan: 10 Cities Ready to Bounce Back: Real Estate - 09/26/07 05:51 PM
I knew I liked http://www.cnnmoney.com/ for a reason.  They have done their share of doom and gloom stories so I won't give them a complete free pass, but I will say that they have contributed some positive stories recently in the midst of our current Mortgage and Real Estate market debacle.  … (2 comments)

nevada mortgage loan: 8 Most Dangerous Trends Facing Mortgage Brokers: Mortgage Industry - 09/25/07 09:42 AM
Since the Mortgage Market turned sour, many people have said that Mortgage Brokers may become a thing of the past.  Their reasoning is that most loans are going to fall in the conforming i.e. Freddie Mac and Fannie Mae category.  Because most of the loans will be conforming why do we … (16 comments)

nevada mortgage loan: FHA Modernization Bill Passed: Mortgage Industry - 09/19/07 07:32 PM
FHA Modernization Bill Passed: Mortgage Industry
Although some of these items may make you wonder why it was passed overall I think this is another chip off of the block of reform.  I continue to get posts saying that items like this, FHA Secure, Interest Rate Reductions, etc. are not enough to … (0 comments)

nevada mortgage loan: Your Home Equity Payment may go down: Mortgage Industry - 09/18/07 04:16 PM
Although the Fed cut of 1/2 point in the Fed Funds rate does not directly affect Mortgage rates, the 1/2 point cut in the Prime Rate may make your HELOC payment go down!  Most Home Equity Lines of Credit or HELOC's are based on the Prime Rate plus a margin!  So … (6 comments)

nevada mortgage loan: Real Estate Investors See Opportunity in the Wake of a Meltdown: Las Vegas, NV Mortgage Industry - 09/17/07 12:21 PM
What a terrific story to come out after my post on Friday, Vegas Boom 2.0! The story below from Fortune on CNNMoney.com talks about investors eyeing opportunities to pick up land cheap.  In all honesty, I am surprised to see this type of story this soon.  I know it is land and … (0 comments)

nevada mortgage loan: Las Vegas Market a Bust! DON'T BET ON IT! Bet on Vegas Boom 2.0: Las Vegas, NV Mortgage Industry - 09/14/07 02:51 PM
Vegas Boom 2.0!
Being from Las Vegas, I keep hearing over and over that the market is a bust!  Well, our market may be going through a correction but you can bet that when it is corrected it will be back in a big way! 
As seen on CNBC this morning, commercial … (5 comments)

 
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Rey Gallegos Mortgage Loan Officer Las Vegas, NV

Las Vegas, NV

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