scv loan solutions: First time Home Buyers: Use your $8000 Tax Credit Now
- 05/30/09 11:36 AM
Over the last several weeks HUD, along with FHA, have been back and forth as to the legality of whether or not they would allow the use of the $8000 First time home buyers Tax Credit to be used as part of the down payment and closing costs of a qualified purchase. Well now we have an answer. Yes! You can cash in your $8000 instant rebate at the register! There are some rules that need to be followed, so if you want this credit instantly applied to your purchase transaction, you need to make sure that your lender follows the … (1 comments)
scv loan solutions: A Wicked Wednesday for Mortgage Rates
- 05/27/09 05:25 PM
Today is Wednesday May 27, 2009 and it marks the single biggest drop in the price of mortgage backed securities in over 10 years. Today we lost 206 basis points in the price of mortgage backed securities, however the bleeding actually began last Thursday when the markets began to slide, and since then we've lost over 360 basis points. Ok, Ok let me not get too technical.. I realize you don't watch the bond market everyday like I do, so you may be wondering what is a basis point and what does it mean to me? Basically it refers to the price of … (1 comments)
scv loan solutions: The Lie Detector
- 03/28/09 09:32 PM
Lies Lies Lies... We see them everywhere.. Everything from asking Johnny if he had a cookie before dinner; only to see him wipe crumbs from his face and say "no mom", to the Bernie Madoff's of the world that schemed millions with a carefully crafted series of deceit and forgery. We all condenm lies, and generally speaking no one wants to be a liar. Yet we all occasionally fall into the trap ourselves and justify this ocassional mistep by saying it's ok as long as it's a white lie. Meaning a white lie is acceptable provided that no one is hurt by it or … (2 comments)
scv loan solutions: Real Estate Investing: Its about the People
- 12/06/08 07:41 PM
Real estate isn't so much about property as it is about people. As an investor you need to know and understand the sellers circumstances. You need to be respectful of the fine line where one mans financial misfortunes become another mans exploitation for his own fortune. I oftern hear Realtors talk about what a great time it is to invest because there are so many foreclosures and great deals to be had right now. True, but lets put this into perspective. Foreclosures are bad! Its a terrible thing for society, terrible for our economy, and it causes a deep psychological impact and … (1 comments)
scv loan solutions: Self Directed IRA's --An alternative to traditional retirement planning
- 11/02/08 04:18 PM
Most people's retirement plans today are typically invested in some form of securities or commodities plan that is managed by a third party plan administrator. The administrator decides how the retirement fund is invested, controls the make up and structure of the fund, and is responsible for the day to day decisions on how that retirement fund is managed. In other words, if you have a 401(K) your employer withholds money from your paycheck, and a third party decides how to invest it for your future retirement. While this might be an acceptable form of retirement planning for some, many people are realizing that declining stock values and increased inflation are leaving their retirement plans vulnerable and … (2 comments)
scv loan solutions: US Treasury takes over Fannie and Freddie: What does this mean?
- 09/09/08 07:48 PM
This weekend we witnessed the biggest Govt expansion into the private sector ever. I'm a free enterprise guy and personally, I don't like Govt involvement in the private sector. Fannie and Freddie where designed as a publicly chartered agencies designed to operate in the private sector, and when things are going well you can make this work, but during down times you cant. They have an internal conflict of interest because they're trying to serve the general public and also be profitable for investors and shareholders. It's like having a non-profit company with shareholders. You can't have it both ways. Earlier this year … (3 comments)
scv loan solutions: Now is the time to Lock Your Home Equity line.
- 04/30/08 07:32 PM
Many homeowners are unaware that some home equity lines have a feature that allows you to convert an equity line into a fixed rate equity loan. The process does not require a refinance and is usually accomplished by placing a phone call to the lender and paying a small processing fee. If your home equity line has this feature you should consider locking it now, while rates are at their lowest. Here's why I'm recommending an equity lock right now. Today, 4/30/2008 the FED lowered the FED funds rate by another .25% which means prime rate is at the lowest point it has been in several years. … (0 comments)
scv loan solutions: Your Equity Line May Be Frozen (and you may not know it.)
- 04/13/08 05:17 PM
Banks are sending notices to homeowners advising them that their home equity lines have been frozen or reduced to a lesser amount. If you have an unused equity line, it may be at risk. Recently, I have received several phone calls from clients who have already received such notices. As a mortgage consultant, I felt very strongly that I share this important information with my clients immediately. Banks are taking huge write downs and losses as a result of poor lending practices and high foreclosure rates throughout America. As their stock values continue to plummet, banks are being forced to change their credit policy … (0 comments)
scv loan solutions: Email vs Snail Mail.. Stop the Junk mail and be Professional
- 09/27/07 02:26 AM
I often stop and think. Wow -- how did my parents ever get anything done in the business world 20, 30, 50 years ago? There was no email, no computers, no internet and the scariest of all no Google. Yikes! (The thought of working without these tools sends chills down my spine.) Yeah, things moved slower, but nonetheless business was getting done with great success. Fast forward to the modern era of instant gratification where you can do just about anything (well almost) with the stroke of keyboard and the click of a mouse and suddenly you have a whole new set … (15 comments)
scv loan solutions: College of the Canyons -- Opens new campus
- 08/29/07 07:52 PM
Today I had the honor of attending the ribbon cutting - opening ceremonies of Santa Clarita Valley's newest college campus. The College of the Canyons -- Canyon Country campus. The project first started in 1991 when the Chancellors office commisioned a long range study to determine the educational needs of the community and recommended that a 2nd campus would be required to accomodate the rapid growth of College of the Canyons main campus in Valencia. Just as projected, the enrollment has steadily increased over the years from 6,500 students in 1990 to over 19,000 students today. The College of the Canyons main campus has been named … (3 comments)
scv loan solutions: 100% Financing in 2007 and beyond
- 08/26/07 07:45 PM
One of the most commonly asked questions that I get from realtors and clients now days, is who can qualify for 100% fianancing and how to qualify for it. If there's any loan out there more likely to burst the infamous housing bubble it would have to be the misuse of 100%-interest-only-adjustable-rate financing. So let me address this question head on as the mortgage industry is changing dramatically. In spite of all that is going on the mortgage industry these days, this doesn't mean there's not an appropriate place for 100% financing. It does mean however, that before you consider 100% financing you must first understand the proper application of this type of loan. … (14 comments)
scv loan solutions: Flow Chart: Real Estate Purchase Transaction
- 08/26/07 07:29 PM
For those of you that prefer visual concepts, I have prepared a simple flow chart that illustrates the key steps involved in the purchase of real estate. This illustration is designed to provide buyers with a road map to ownership from begining to end, it is not a detailed list of everything that occurs in a transaction. I realize there may be some variance from state to state as some states are non-escrow states, but the overall process is generally the same. If you have any recommedations or see anything that I may have missed please let me know. Lastly, If you'd like a … (14 comments)
scv loan solutions: Under the Mortgage Microscope: Understanding Points vs. No Points
- 04/14/07 09:38 PM
Under the Mortgage Microscope: Understanding Points vs. No Points One of the most common questions that I get as a mortgage broker is, "Can you do a zero point loan?" Of course I can, any broker can do a loan with no points. The real question is understanding the trade-off between a zero points loan vs a loan where points are paid. (all other things being equal, of course.) Many "loan shoppers" often focus on this dimension alone and they will run the other way if the lender mentions that a loan has points included. This is short sighted and illustrates a lack of understanding of where the point costs come … (4 comments)
From this perch.............................
My vision I preach, my concepts I teach.
But for greatest perspective, It's your comments that I ultimately seek.
Over the last several weeks HUD, along with FHA, have been back and forth as to the legality of whether or not they would allow the use of the $8000 First time home buyers Tax Credit to be used as part of the down payment and closing costs of a qualified purchase. 
;)
;)
