san francisco: Writing an offer with 203k financing in Oakland Alameda, San Francisco - 05/14/12 05:15 AM

Direct Link  
Oakland Ca., It’s no secret we’ve discussed this before, there are some properties on the market with deferred maintenance right? Well it can be tricky for first time buyers to get into these well priced properties due to financing restrictions. That’s why more and more we are seeing 203K offers when necessary, a loan that actually allows you to finance the construction of the property after the close of escrow. Now the big questions is “How do you write an offer on a 203K property?”
Step 1
Put 203K in the Purchase Contract – Now this … (0 comments)

san francisco: Sewer Lateral Repairs and 203k Financing in Oakland and the East Bay Area - 05/04/12 03:32 AM

Direct link:
Oakland, Ca. As you may know, in many cities, a sewer lateral inspection/repair is a requirement in every real estate purchase transaction. Specifically in Oakland after January 16, 2012 all homes purchased are now required to obtain a certificate of compliance from EBMUD. So what does this mean exactly?
The EPA among other agencies is requiring six East Bay cities and one sewer district to fix old, cracked sewer pipes to ensure they don't allow the infiltration of rainwater which can overwhelm water treatment facilities and pose a threat to public health.
When are property owners required … (0 comments)

san francisco: Home Owner Bill Of Rights on Foreclosed Properties in California San Francisco Oakland Alameda - 04/24/12 04:37 AM
Direct Link
 San Francisco; Ca; A Homeowner Bill of Rights has been introduced to the California State Assembly in the form of seven bills entered Focused on the impacts of foreclosure.
California Attorney General Kamala D. Harris’s office said that the proposed legislation seeks to protect homeowners from unfair banking practices related to foreclosures and provide remedies for communities threatened by blight from foreclosed properties.
Two of the bills would provide local communities with the ability to bring increased penalties against the owners of blighted properties deterioration, faulty planning, inadequate or improper facilities, deleterious land use or the existence … (1 comments)

san francisco: Mortgages Rates Jump up for the First Time In Months in San Francisco, CA! - 03/15/12 04:16 AM

San Francisco, CA: On March 13th and 14th we saw huge rate increases.  Our beloved 3.875% “Best Execution” went to 4.125% with most lenders.  In fact over the past two days we have seen a dramatic increase in rates –


For those that want to know WHY rates moved higher so quickly:
I Refer to Matthew Graham of Mortgage News Daily -
“(NOTE:  For most of this discussion, we'll actually reference 10yr Treasury yields, even though it is Mortgage-Backed-Securities (MBS), that most directly influence lender's rate sheets.  When markets are undergoing bigger shifts than … (1 comments)

san francisco: FHA Mortgage Insurance is on the Rise in the San Francisco Bay Area AGAIN! - 03/02/12 04:25 AM

Direct Link
On April 1st the Federal Housing Administration is increasing both upfront and annual premiums for its insured single family loans. The annual increase will be .10 % to make the annual mortgage insurance premiums 1.25% mandated by the Temporary Payroll Tax Cut Continuation Act of 2011.
But that’s not all! FHA is exercising its authority to raise other fees for the specific purpose of strengthening FHA’s Mutual Mortgage Insurance Fund (MMI).
The upfront premium, which went down in 2010 is going right back up to 1.75%. A .75% increase from the current 1% premium. This change will … (0 comments)

san francisco: How 203K Financing Can End the Foreclosure/REO Epidemic in Piedmont - 10/18/11 08:54 AM
In San Francisco, Oakland, and Alameda, we are getting more and more requests for 203K Financing which is very exciting. This is the best product in the real estate finance industry hands down! It may not make you the most money, purchase prices can be on the low end. It definitely isn’t the easiest loan out there but there is no such thing as an easy loan anymore . And yes, there is more paperwork in a 203K.
That being said the 203K is the only loan that appreciates months after funding. There are a lot of things put … (0 comments)

san francisco: Energy Efficiency and Your Home Mortgage in the San Francisco Bay Area - 06/03/11 06:12 AM

san francisco: Can I Qualify For A VA Refinance If I Currently Have A Conventional Loan in San Francisco? - 05/13/11 07:04 AM
With home values still declining in the Bay Area many homeowners cannot take advantage of today's low rates on a home mortgage loan refinance. Values in the Bay Area are still declining and we see appraisal issues quite often when refinancing properties in San Francisco, Oakland and Alameda.
If you are an eligible veteran or member of the armed forces and currently have a conventional loan, then yes, you can refinance into a VA loan! In fact, we are working with a client here in Alameda, CA doing exactly this type of refinance, and the great news is he will be … (0 comments)

san francisco: The Truth About the 203K Rehabilitation Loan in San Francisco - 05/06/11 10:55 AM