home loan: Hardship Meets Opportunity
- 07/20/10 05:13 PM
All around us, we see hardship and opportunity. Have you seen hardship…neighbors, colleagues, friends, family struggling to hang on to their homes and retirement portfolios that may have included real estate investments? Families torn apart due to financial distress from job loss, income reduction, payment increases, stress reltaed medical expense?
How about opportunities…those same people getting a home for their family for what seems like pennies on the dollar, buying real estate “in bulk” that actually carries positive cash flow? People who negotiated a reduction in terms with their mortgage holders, cutting their mortgage payments up to half of what … (6 comments)
Well worth the wait on a busy holiday weekend, we could think of no better way to travel back to the car we left parked in Chinatown. After hoofing it across town to see the sights up close and personal, we were all ready to take a fun ride back. What better way to travel than this?
See you out there! … (8 comments)
home loan: Going…Going…Gone? How Long Will These Low Home Loan Interest Rates Hang Around?
- 11/23/09 04:44 AM
This week, I’m locking in interest rates lower than I’ve ever seen before, lower than I’ve even gotten for my own personal home loans on a wholesale basis. I really did not expect to see 15 year conforming fixed rates back at the 4.25% I locked my own interest rate at several years ago. It’s exciting to see the homeowners I’m working with who have enough equity in their homes to be able to refinance out of resetting adjustable rate mortgages to fixed interest rates at the same level those adjustable rate mortgages were at. Most of them were nervous about … (5 comments)
home loan: Will Mortgage Insurance Still Be Tax Deductible After December 31 2010?
- 11/18/09 02:15 AM
With all the rapid changes we’re seeing in the mortgage industry, those that have been instituted and many coming down the pipe, I haven’t heard anything about the tax deduction for Mortgage Insurance Premium that expires 12/31/2010. Right now, eligible taxpayers may deduct their eligible mortgage insurance premiums, including FHA upfront mortgage insurance and monthly mortgage insurance premium, USDA guarantee fee, and VA funding fee as well as the private mortgage insurance premiums required on conventional Fannie Mae|Freddie Mac vs. government loans.
Although these mortgage insurance premiums are not nearly as much as the mortgage interest taxpayers deduct, they can … (5 comments)
home loan: That Was Then…This Is Now 2007-2009
- 11/02/09 03:48 AM
Having been in the mortgage industry for so long, having seen a great many changes since 1983, recent changes seem different from earlier changes in one big way. The period between 2007 and 2009 doesn’t really seem like a long period of time in the big picture, but these changes are making for some long days in my mortgage industry world. Where many of the changes in the past were market driven, today’s changes are “putting fires out” driven. And it seems to me, those changes are being made without the necessary foresight and investigation required to have these changes be … (4 comments)
home loan: A Sunday Drive in Southern Oregon (3 of 3)
- 11/01/09 03:09 PM
After we have finished exploring Sunny Valley and the ghost town of Golden Oregon with the hydraulic mining sights across the road, we head to Historic Wolf Creek Inn to have dinner. In spite of the Rogue Valley population being well over 200,000 people now, we manage to bump in to two people we know having dinner with their families at the Wolf Creek Inn. After a delicious dinner of "Steak for 2" and Crab and Avocado Louie, we meet up with one group of friends and tag along for a tour of the Wolf Creek Inn, learning about the days … (10 comments)
home loan: A Sunday Drive in Southern Oregon (2 of 3)
- 11/01/09 02:40 PM
On this first day of November 2009, we continue our Sunday drive on this glorious day, leaving Sunny Valley, and heading north to go to Golden, Oregon. This historic town was settled by early Gold Miners, most of whom moved on to other areas for their treasure hunt. The State of Oregon is in the process of restoring/renovation this historic area, and we'll look forward to seeing it again one day. In the meantime, here you go!
There is such beautiful scenery in this area, and so many great places to sightsee and hike, or as we … (8 comments)
home loan: A Sunday Drive in Southern Oregon (1 of 3)
- 11/01/09 02:27 PM
There are so many wonderful places to visit here in Southern Oregon. Today, my family and I piled in to the car and headed North from Medford Oregon to spend some time discovering places and some ground we've passed through many times along the I-5 corridor. First stop, was the Grave Creek Covered Bridge in Sunny Valley, Oregon. This is along the Applegate Trail, and there is a small interpretive center located here that tells the tail of Sunny Valley and these scenic landmarks that can be spotted when one is driving north or south on the Interstate 5 Freeway.
home loan: Tale of A Sad, Sad Divorce After a Long Happy Partnership
- 07/29/09 03:21 AM
Oh, woe is me! Alas, I have a tale to tell of how a long, steady, reliable relationship filled with mutual respect has gone awry. A sad tale of how a long, happy partnership had to end. I didn't WANT this relationship to end. But, I now NEED this relationship to end. The relationship is a "Preferred Partner" relationship with a lender who will remain nameless. For YEARS, I've been telling fellow originators how wonderfully consistent this lender has been. How not only is their pricing consistently competitive, but a human answers the phone and you can actually run complex transactions … (12 comments)
home loan: When Is It Time To Tell A Borrower To Apply With Another Lender?
- 07/24/09 07:05 AM
I've been in the mortgage/real estate business since 1983, with most of the past 15 years working with repeat and referral clients. Our relationships have a great deal of trust, which I believe to be important - especially in the current real estate/ mortgage environment. But, when is it time to tell a borrower to apply with another lender? I wandered in to the world of Internet marketing, and realized that this same loyalty and trust bond does not exist, so made the decision to only agree to work with clients I am able to meet with in person when they … (58 comments)
Posting on Active Rain for almost 2 years now, there have been times when I've come across the occasional post and/or comments that make me think "gee...this person sure didn't learn how to play well with others". It reminds me that Active Rain has been an incredible way to discover more about the people posting there, their levels of experience, their business philosophy, and their personality. I don't know about you, but knowing this information plays an important part in my business relationships. I don't care how much experience you have, if you don't play nice, stay out of … (62 comments)
home loan: Fannie Mae & Freddie Mac Up The Ante For Jackson County Oregon
- 02/23/09 07:02 AM
In this game of a mortgage industry we seem to be playing, a change in "da rules" was announced today by the Federal Housing Finance Agency. Jackson County Oregon is deemed to be a "high cost area", and so has had the loan limit raised back to what it was just last year...$422,500. Translated in to laymen's terms? You may be a "saleable loan" to Fannie Mae and Freddie Mac, paying Agency High Balance pricing versus Non-Conforming pricing if your home loan in Southern Oregon/Jackson County is between $417,001 and $422,500 on your single family residence. Below $417,000, you have a … (0 comments)
home loan: Spring Home Show 2009 This Weekend For Southern Oregonians At Jackson County Fairgrounds
- 02/12/09 08:13 AM
The Sping Home Show will take place this weekend at the Jackson County Fairgrounds, February 13th, 14th & 15th. The Jackson County Homebuilders Association puts on two of these shows each year. Although both the Spring and the Fall shows have a lot to offer, we are really looking forward to seeing what new and innovative products will be on display, like some great skylights. There will be several vendors that will be displaying their Eco-Friendly products and services this year, and we're still looking at fireplace inserts, since the City of Medford has an ordinance requiring the replacement upon sale of a home that … (0 comments)
home loan: Updated Borrower's Guide to Locking In Your Interest Rate
- 12/19/08 07:33 AM
Are you in the process of getting a home loan for a home purchase you are planning to make here in Southern Oregon? Or, maybe you heard about the incredibly low interest rates we've been seeing for qualified homeowners looking to get a lower interest rate than they have presently? Want to grab this opportunity before it gets away from you? Confused about the way the pricing can move in this extremely volatile market we've been experiencing in the mortgage industry? You need: A Borrower's Guide to Locking In Your Interest Rate (time to dust off an older blog, and update … (0 comments)
home loan: Southern Oregon ABC’s of Homebuying Class this Saturday December 13th at Rogue Community College
- 12/08/08 05:41 AM
The next "ABC's of Homebuying" HUD approved course for first time homebuyers is coming up this Saturday December 13, 2008 from 9 a.m. - 4 p.m. at Rogue Community College in Downtown Medford. Not only is this is the required course for several first time homebuyer programs, but it is a great source of information for the first time homebuyer AND buyers who are re-entering the market after being on the sidelines of the real estate market for several years. For information on registration and directions, follow this link, or contact the Southern Oregon Housing Resource Center at ACCESS, Inc. (541)774-4329. … (0 comments)
home loan: Southern Oregon Realtors - Do Your Buyers Need a Zero Down Home Loan?
- 11/14/08 05:11 AM
Southern Oregon Realtors working with residential home buyers, have your clients been considering a great financing tool? USDA Guaranteed Rural Housing is a program that has been underutilized, partly due to restrictive income guidelines that will likely change on January 20, 2009, barring any major objections received during the comment period that will expire January 5, 2009. The proposed income guidelines would mean up to 4 person households may qualify with gross annual income up to $70,750, and up to 8 person households with up to $93,400 based on the current Jackson County Oregon income limits. Here are some key features … (2 comments)
home loan: Forget Wall Street and Main Street, How About Opportunity Street?
- 10/22/08 08:17 AM
This week has made me feel a bit like this hamster. Running, running, running...but still in basically the same place. Trying to re-boot this mentality, I thought I'd do some market research for this gorgeous area I live and work in, Southern Oregon. Just out of curiosity, I thought I would go explore how many homes are on the market in the Rogue Valley that might suit the entry-level buyer. Imagine my surprise when I had to cut the criteria back over and over again after finding 700+ homes for sale under $200,000! Narrowing in to categories, I found:
75 … (2 comments)
home loan: Have You Been To Morning Glory Restaurant In Ashland Oregon?
- 07/30/08 10:01 AM
Want a unique, consistently delicious restaurant to go to in Ashland Oregon for breakfast or lunch? Not far from our office on the South end of town across from Southern Oregon University, Morning Glory Restaurant is a personal favorite of mine. This award-winning breakfast and lunch establishment run by chef/owner Patricia Groth. Using organic and local ingredients whenever possible, every dish I've ordered has been delicious. Walk on over to Morning Glory at 1149 Siskiyou Blvd in Ashland to start your day off right!
See you out there! Karen Cooper - OR/CA Mortgage Consultant- www.Quality4Loans.com … (7 comments)
home loan: Have You Been To Dragonfly Cafe in Ashland Oregon?
- 07/30/08 09:55 AM
Have you experienced the fabulous dishes turned out by Ashland Oregon's best chef in 2007, Chef Neil Clooney and his partner Chef Isabel Cruz at Dragonfly Café and Gardens? Using ingredients that are sustainably farmed and meat free of hormones, these unique Latin-Asian Fusion dishes are a delight to the taste buds and the system. Breakfast, Lunch, Dinner or an evening snack/dessert on your way to or from the Oregon Cabaret Theater, Dragonfly Café & Gardens at 241 Hargadine Street in Ashland is a place to experience. See you out there! Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com … (4 comments)
Loving the challenge of a career in mortgage|real estate since 1983, keeping up with the progression of changes in this industry keeps one on their toes. What doesn't kill us makes us stronger, right? Here's to a few more decades of strength building!
All around us, we see hardship and opportunity. Have you seen hardship…neighbors, colleagues, friends, family struggling to hang on to their homes and retirement portfolios that may have included real estate investments? Families torn apart due to financial distress from job loss, income reduction, payment increases, stress reltaed medical expense?
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