alameda mortgage: Standalone Seconds Are Back in Oakland, CA - 09/27/13 04:53 AM
Can you believe it??  Standalone seconds are back on the market!  Standalone seconds were widely popular and offered several advantages over other types of financing.  When the housing bubble burst, lenders stopped offering these second mortgages.  Well they are back, and available to qualified buyers and homeowners!
Standalone seconds are a valuable tool and depending on your personal financial situation, one that may greatly benefit you. Here’s what you need to know before you apply for a home equity line of credit (HELOC).
Important Second Mortgage Facts:
A second mortgage takes a backseat to your first mortgage. The process is similar to a first … (0 comments)

alameda mortgage: FHA Announcement Brings New Opportunity to Boomerang Buyers in Berkeley - 08/23/13 03:54 AM
Great News for Boomerang Buyers!
According to new Mortgagee Letter 2013-26, HUD announced:
As a result of the recent recession many borrowers who experienced unemployment or other severe reductions in income, were unable to make their monthly mortgage payments, and ultimately lost their homes to a pre-foreclosure sale, deed-in-lieu, or foreclosure. Some borrowers were forced to file for bankruptcy to discharge or restructure their debts. Because of these recent recession-related periods of financial difficulty, borrowers’ credit has been negatively affected. FHA recognizes the hardships faced by these borrowers, and realizes that their credit histories may not fully reflect their true ability or … (1 comments)

alameda mortgage: Buy and Bail Can Kill Even the Most Qualified Buyer IN Escrow in Alameda - 01/17/12 04:53 AM

Buy and bail is the result of buying a new home with the intention of bailing on the old. It is considered mortgage fraud. A Borrower must have 30% equity AND two years of Rental Income to use market rents on their current property.
If you have questions comment below or give me a jingle! Please forward if you know someone who could benefit.

alameda mortgage: What a AA+ S&P Credit Rating Means to Real Estate ALAMEDA MORTGAGE MINUTE - 08/11/11 07:27 AM
ALAMEDA CA; August 5th at night, Standard & Poor’s rating agency lowered the long-term rating of the U.S. government and federal agencies from AAA to AA+, for the first time in U.S. history. … (1 comments)

alameda mortgage: Debt Ceiling Raised Mortgage Rates Go Nuts Alameda Mortgage Minute - 08/04/11 11:40 AM
Having trouble viewing: … (0 comments)