mendocino county: Reverse Mortgage Loans - 12/07/15 06:48 AM
With all of the baby boomers getting older, how many are aware they can use a reverse mortgage loan to pay off their existing real estate loan and have no monthly payments?
Or, how about downsizing to a smaller home, take your existing equity and invest it with a wealth manager and have no payments on the reverse mortgage, while creating an income stream? 
There are many ways to use a Reverse Mortgage Loan and those of you who have not done your homework should really do so. Of course, you must understand that this is a "negative equity" loan, but for those … (0 comments)

mendocino county: Adding value to a referral partner! - 10/20/15 12:03 PM
Trying to add value to my realtor partners is always a difficult thought process for me. Just exactly is value?
I think closing the loan is expected. It's what I do. It's not really a value add. If I am going to stay in business, i better close loans. But, if I can find a way to generate leads for my referral partners then i certainly can add value to their business.
I am interested in hearing from the real estate community exactly what you find to be a reason you work with a specific lender. What exactly are they doing … (4 comments)

mendocino county: Northern California Markets Reaching Equilibrium? - 08/19/14 08:23 AM
In my marketing area, Ukiah, CA. or Mendocino County, business seems to have slowed a bit this summer. Maybe its just that time of year as it was the same last summer. Or, are the markets getting to the point where the price appreciation has made it more difficult for the buyers to qualify? Or perhaps its not longer cheaper to purchase then rent? I believe that the latter will slow things down.
In 2010/2011, one could argue that the cost of renting was more then purchasing a home so why not buy? I dont think we can say the … (0 comments)

mendocino county: New Home Sales Up 14%, Could This Be Cannibalizing Existing Home Sales? - 08/09/13 02:44 AM
This morning a new report indicated that new home sales are up 14%. The key word there is "new". Could the new home sales be taking away the home buyer from the existing home sales? In the market area's i service which is #Ukiah and #Willits in #Mendocino county, #CA. this summers sales seem to be "lackluster"!  There are not any new home subdivisions  in my marketing areas, but, in other places where there are, could be a reason for a slow down in existing home sales?
In many parts of the county there has been reports of a slowing of … (0 comments)

mendocino county: Distressed Loans Hit a Five Year Low, Except FHA! - 08/08/13 04:19 AM
Great to hear that delinquent loans fell to a five year low in the second quarter of 2013 (reported by the Mortgage Bankers Association). However, FHA loans increased. Why is this a big deal? The US Government doesnt want to be in an insurer of conventional loans as mentioned this week with the potential closing of #Fanniemae and #Freddiemac. But, it will continue with #FHA which the government does and will continue to insure. I am not sure I understand why you would want to wind down two entitites that are now making money and have paid back 3/4 of what … (0 comments)

mendocino county: Market Turning To Normal? - 08/07/13 08:10 AM
Are prices beginning to stablalize and property sales starting to slow? Are borrowers quiet? Is it just summer? Some of the markets I do business in are starting to report that maybe things are beginning to slow. I think this is a great thing as nothing would be better than a market that doesnt favor a buyer or a seller. A normal market would be perfect for everyone! I guess over the next few months "more will be revealed"!

Rick Costa, FHA/VA/USDA expert (Primary Residential Mortgage Inc. NMLS 3094)

Rick Costa

FHA/VA/USDA expert

Ukiah, CA

More about me…

Primary Residential Mortgage Inc. NMLS 3094

Address: 704 East Perkins Street STE E, Ukiah, CA, 95482

Mobile: (707) 529-3374

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