quality home loans: Change is GOOD! And Change is Here for This Oregon/California Mortgage Consultant
- 03/31/09 09:20 AM
With the many changes in the mortgage industry over the past 18 months, I have been pondering the necessary adjustments needed to stay up-to-date with the many underwriting and program guidelines a loan professional needs to be aware of to effectively serve their clients. I have been exploring working for national and community banks, obtaining FHA approval for my mortgage company, becoming an affiliate branch for a mortgage banker, or just simplifying things in my work life and becoming a loan officer for someone else's company while letting someone else deal with the nuts and bolts of operating a mortgage company … (2 comments)
quality home loans: Speechless Sunday - Most Northwestern Point of the Lower 48, Cape Flattery
- 03/29/09 11:41 AM
Karen Cooper - Mortgage Consultant - www.Quality4Loans.com Providing high Quality, Professional, Ethical service to Oregon and California home buyers and owners since 1983. Whether you are taking out your first home loan or your fiftieth, for your home, your second home or for investment, put my knowledge and expertise to work for you. … (5 comments)
quality home loans: Positively Great News For Rogue Valley Families In Need!
- 03/11/09 04:53 PM
I heard some great news today about a local non-profit that is benefiting from our current economy. Tablerock Fellowship in Medford Oregon has been working on expanding the capacity of their Food Pantry to meet the community's growing needs. The number of people being served has jumped from 600 to over 2,200 per month in only a few months. This non-denominational Christian church that is attended by 2,500 Rogue Valley people (and growing rapidly) has a lot of talent in its congregation. Many of these folks have construction skills, and are stepping in to help with the construction of a new … (4 comments)
quality home loans: Oregon Seeing The Light At The End Of The Tunnel In This Economy?
- 03/06/09 05:27 AM
At the Rotary Club of Ashland's weekly meeting, the speaker who packed the house was Tom Potiowsky, Oregon State Economist. The news Mr. Potiowsky relayed was not much of a surprise to anyone - we all know our local economy like our local real estate market has been a bit bleak. Although Southern Oregon was slower to arrive at the Housing Boom party, we did eventually find ourselves there, and we have been paying the price for our exuberance. But, Mr. Potiowsky says there are indications that 2nd or 3rd quarter 2009 may be the "technical" bottom for the recession we … (9 comments)
quality home loans: Is The $8,000 Tax Credit Approved Government Down Payment Assistance?
- 03/05/09 04:07 PM
There are a TON of changes coming through the latest stimulus packages. I think eligible buyers just were given a Government Funded Down Payment Assistance Program with this $8,000 tax credit if it is funded through the Mortgage Revenue Bond programs in the individual States, like Oregon Bond Loan for us. The other Purchase Assistance Loan, Down Payment Assistance Programs, Seller Funded Down Payment Assistance programs have all gone by the wayside, now here comes Uncle Sam with their own version? As is the case with all these other programs, the $8,000 tax credit will only be good through December 1, 2009, … (7 comments)
Southern Oregon Concierge Event! - Free Admission - No host bar
Artist: Rex Holt - Music by Incognito - Rogue Opera Display Food & Beverages: Long Sword Vineyard - Wallaby White Walk About Brewery - Event Grill BBQ & Rogue Coffee Roasters Healers: Marie-Hunter Ripper Indian Practitioner, Robert Levin, Chair Massage, Julia Marie Burns- Moving Aura Photography, Rex Holt-Certified Advanced Rolfer Gigi & Lynn Psychic Counseling - Light of Ashland Spa Health & Beauty Products-Joy Hiler Arbonne
Come on out and … (2 comments)
quality home loans: REAL Help for Struggling Homeowners On The Horizon?
- 03/04/09 11:22 AM
Although the Making Home Affordable Program is to be made available to struggling homeowners today, and official announcement went out today from the Federal Housing Finance Agency, the banks and mortgage companies have not yet figured out the details of the Home Affordable Modification or Home Affordable Refinance programs. A call made to Countrywide Home Loans today to inquire about Note Modification through the "Making Home Affordable" program resulted in being directed to call back at the end of March. I hope they get on this soon, as some of the people I've been talking to have been teetering on the … (2 comments)
quality home loans: “Back to Nature” at Lithia Park in Ashland, Oregon
- 01/24/08 12:07 PM
Although Southern Oregon has a wealth of natural beauty to share with us, one of her special places is Lithia Park. This was one of the first places my family and I discovered upon moving here in June 2004, as we attended the City of Ashland's 4th of July Parade, enjoying the many different food, art and craft booths lining the entrance drive to the Park on this special day. We enjoy this park so much, every person who comes to visit us is brought here to experience the glory this National Historic Reserve has to offer, strolling through the many paths … (10 comments)
quality home loans: Effective Today Fannie Mae's Declining Markets Reinstated Guideline Takes Effect
- 01/15/08 05:48 AM
Well, today is the day. Loan Applications dated January 15, 2008 or later may be subject to this reinstated regulation. Freddie Mac, VA and HUD have all posted similar notifications, making Fannie Mae the last one to the table on this issue. I'm finding that with a such a wide-based and undefined criteria, not all lenders are treating the regulation the same. Most lenders are ignoring Fannie Mae's recommendation that since real estate markets are local markets, and properties in one neighborhood may have stable values, while those in other neighborhoods may not. Fannie Mae Notice 07-22 states that if an appraiser stipulates on their … (9 comments)
quality home loans: Winter Fun on Table Mountain at Hyatt Lake, Oregon
- 01/13/08 01:42 PM
It was a beautiful day to go sledding, and we weren't the only Southern Oregon residents to think so! We headed off to our favorite sledding hill at Table Mountain Winter Play Area just across from Hyatt Lake. This is one of our favorite family time day trips for many reasons. Only 20 miles from Ashland, Oregon, off Hwy 66 to Dead Indian Memorial Road to the turnoff to Howard Prairie/Hyatt Lake, its location cannot be beat.
The roads are well maintained, although sometimes a little icy with the gorgeous pines in this forest shading the roads. Once you turn … (8 comments)
quality home loans: First Time Home Buyer Resources (Part 4– Temporary Subsidy Buydown)
- 01/07/08 06:12 AM
Temporary subsidy buydown plans are a way to help homebuyers qualify with the mortgage payment lowered initially, by the interest being "bought down" or prepaid by the homebuyer or the seller. When a homebuyer opts for a buydown plan, they will get lower, more affordable mortgage payments with the stability of predictable payment increases over time. Most homebuyers choose one of two temporary buydown plans, a Limited or an Extended buydown plan. The Extended plan allows the borrower to qualify at the initial (bought down) interest rate that can be up to 1.5 percentage points lower than the note rate. This rate is then … (0 comments)
quality home loans: First Time Home Buyer Resources (Part 3– Seller Funded Down Payment Assistance)
- 01/07/08 06:00 AM
Seller Funded Down Payment Assistance programs are being eliminated as allowable sources of down payment. As of December, 2007, FHA programs will still allow AmeriDream and Nehemiah Seller Funded Down Payment Assistance programs as acceptable down payment sources, but only until February 28, 2008 for AmeriDream. Fannie Mae and Freddie Mac do not accept Seller Funded Down Payment Assistance as acceptable down payment sources on their programs. Down payment assistance providers Nehemiah Corp. of America, of Sacramento, Calif., and AmeriDream Inc., of Gaithersburg, Md., sued the government Sept. 30 and Oct. 1, respectively. U.S. District Judge Paul Friedman granted a preliminary injunction barring … (5 comments)
quality home loans: First Time Home Buyer Resources (Part 2– Purchase Assistance Loan - PAL)
- 01/07/08 05:34 AM
Many States, Cities and Counties offer Down Payment Assistance Loan programsto first time homebuyers whose income is low-to-moderate. Each program participant establishes the criteria for their local area. Usually, these loans are for homebuyers earning up to 80% of the HUD median income for their County and family size. Many of these loans bear zero interest, are "silent seconds", meaning they require no monthly payments, with the entire balance due when the home is transferred, sold, refinanced, or the primary mortgage is defaulted on. These PAL programs are for first time homebuyers- those who have never owned a home, or have … (6 comments)
quality home loans: First Time Home Buyer Resources (Part 1 – the MCC)
- 01/07/08 05:09 AM
A Mortgage Credit Certificate (MCC) is a federal dollar for dollar tax credit that program participants may take advantage of. This program was authorized in the 1984 Tax Reform Act, and is a tool to help homebuyers that usually fall in the category of needing "workforce housing". Several Cities and Counties offer the Mortgage Credit Certificate program to first time homebuyers - those who have never owned a home, or have not owned a home for the previous three years - who either meet the income criteria set for their local program, or are purchasing their home in a Federal designated … (3 comments)
quality home loans: Southern Oregon Winter Wonderland
- 01/04/08 09:47 AM
With the latest series of snow storms rolling through Jackson County in Southern Oregon, we're dusting off our snow gear and waiting for a window in the storms so we can head out for some snow play. If we draw a circle around Jackson County, Oregon and look for winter playgrounds within 60 miles, the choices available to us for destinations are fabulous!
Table Mountain Snow Play area near Hyatt Lake is one of our favorite places to go sledding/tubing. Only about 25 miles from Ashland, Oregon, it is convenient and the roads are pretty well maintained throughout the winter. … (7 comments)
quality home loans: Winter Time in Northern California and Southern Oregon is Beautiful
- 01/03/08 10:54 AM
Yesterday was a beautiful January day. We took advantage of a window in the snow to put in a day of skiing at Mount Shasta Ski Resort. We couldn't have asked for better conditions, both on the roads to and from the resort and on the slopes. With a straight route from Interstate 5 up Highway 89 then to the resort, even our Honda Civic Hybrid made the journey without challenge.
Mount Shasta offers a "Guaranteed to Ski" program for first time skiers/boarders that our youngest took advantage of. There is a 90 minute lesson in the morning where the … (9 comments)
http://www.flickr.com/ "Are we there yet?" Apparently not, since the Fed has deemed it necessary to participate in not only a domestic, but a Global, Bail Out due to our illiquid credit markets. "How long will it take us to get there?" It might be a while yet - like with our road trips, it may depend on how many times it is necessary for us to stop to relieve ourselves, with the dropping of the fed funds/discount rates and the sale of short term funds to protect the identity of banks suffering liquidity crisis's. "How much longer?" … (13 comments)
"A Harvest of Song"was presented at North Medford High School's Lynn Sjolund Auditorium, with all four choruses - Rogue Valley You Ensemble, Directed by Pam Nordquist; Discovery Chorus, Directed by Sandy Roney; Rogue Valley Children's Chorus, Directed by Gerry Flock; and Rogue Valley Cantare Chorus, Directed by Pam Nordquist - presenting the pieces they have worked so hard on at practice each week.
There are 215 students participating in these four choruses, from the 3rd grade chorus up … (0 comments)
#1 Transaction closed September 2007: A young couple decided the time was right for them to buy their first home. They were married a year and a half ago, have been very diligent about limiting their debt load, only having a few small student loan balances, and socking every extra dollar away in to savings, planning to buy when values came down a bit from where they were in 2006. They managed to save up 10% for a down payment, but … (2 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!
With the many changes in the mortgage industry over the past 18 months, I have been pondering the necessary adjustments needed to stay up-to-date with the many underwriting and program guidelines a loan professional needs to be aware of to effectively serve their clients. I have been exploring working for national and community banks, obtaining FHA approval for my mortgage company, becoming an affiliate branch for a mortgage banker, or just simplifying things in my work life and becoming a loan officer for someone else's company while letting someone else deal with the nuts and bolts of operating a mortgage company … (2 comments)
;)
;)
;)
