Sheila Goulart Siegel's (sgoulart) Blog

HARP TWO POINT OHHHHHHhhhh!

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Fri, 17 Feb 2012 03:32:41 -0800

There are new guidelines being released. YES. And more people will qualify for this program than ever before. YES. The question remains, as everyone I talk to asks... "BUT, Will I?" Here is how you can begin to know.... Step 1: You need to know if your loan is owned by either Fannie Mae (FNMA) or Freddie Mac (FHLMC). It is not something you will know off the top of your head. You must check the websites below AND call your lender to ask, "Who OWNS my loan?" You are trying to find out who the investor is and this is a different party in many cases from the company that collects your payments (the servicer). Enter the information into each of the forms through the links below and also call your current servicer. http://www.fanniemae.com/loanlookup/ https://ww3.freddiemac.com/corporate/ Step 2: If, at some point, you get a YES answer to either of these questions: "Does Fannie Mae own my loan?" or "Does Freddie Mac own my loan?"then you can proceed to step 3. If you are getting a NO answer to the above questions you need to continue to try both links repeatedly (as FNMA and FHLMC both acquire loans) AND you need to call your lender. A NO answer generated from the forms on these links does NOT necessarily indicate that your loan is NOT owned by either of these entities. Just entering information differently (IE misspelling, typos, abbreviations or missing information) from how it is in the lender's system can produce a NO answer... If you get a NO you will still want to consult with an experienced broker who works with many different lenders and can ascertain whether or not there is another program available to you. There ARE other programs available that do not involve either of these entities. If you get a NO you can also ask your current lender if they participate in the federal Making Home Affordable Program. A definitive NO here is the end of the road for a HARP refinance for the time being but be sure to keep in touch with those sites and with an experienced lender to determine if something has changed. If one thing is for sure, things change! It has happened again and again over the last half decade as these programs have rolled out. Step 3: Your loan IS owned by Fannie Mae or Freddie Mac. Now what?! The first answer is TALK to an experienced lender, maybe even more than one. Each lender offers a DIFFERENT VERSION of this product, therefore going to one bank, with one set of guidelines, may not be your solution. One bank will still only go to 105% of the current home value while another bank will go to 125% of the current property value. Also, having a second mortgage changes what you qualify for as well. Again, some banks will go higher on the COMBINED loan to value (meaning the balance now including the second mortgage loan balance versus the current propert value). I must also add: there are situations where I refer a client back to their original lender because the guidelines and/or the pricing might be better but I would definitely prefer to talk through the situation with the client FIRST to determine what makes the most sense for their particular situation. Sometimes a lender will have different guidelines for their borrowers with loans already with them versus loans that are owned by a different lender as well. I am seeing pricing and guidelines vary GREATLY from one lender to another. Just because Fannie or Freddie "release" new guidelines does not mean that any lender will offer the program as they release it. Lenders have overlays, rules in addition to the guidelines that will sometimes limit what is available through their bank. AND, just because your loan is owned by Fannie Mae or Freddie Mac does not mean you qualify otherwise. You will still have to meet certain credit score minimums (

Lake Mission Viejo Movies In The Moonlight.....Summer 2011 Movies On The Beach

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 08 Aug 2011 09:36:10 -0700

HI all! If you are looking for a local, fun family event, this is it. I saw a handful of movies at the lake when my older son was much younger and we will remember those warm summer evenings fondly with the beautiful view of the water and the outdoor theater... Take the whole family and ENJOY!! Sheila As part of the summer programs at Lake Mission Viejo, each summer there are Movies in the Moonlight. These free movies are family friendly and shown on the big screen with beautiful Lake Mission Viejo in the background. Since summer hours vary, the movies begin about 8:15-8:45....once it gets dark. Come early to get a good spot on the grass and maybe enjoy a picnic. This year there are 2 different movie nights. Wednesday August 10: Gnomeo and JulietWednesday August 24: Tangled Movies in the Moonlight are a great family outing allows even the youngest child to enjoy Lake Mission Viejo after dark. Don't forget to come to the 2011 Summer Concerts and enjoy Lake Mission Viejo all summer long on our beaches, fishing docks and/or boat rentals. See you there! You can get information about a move to or from Mission Viejo on our MLS search site. Click here to get listings in Mission Viejo or any of the surrounding communities. Karen FiddlerBroker/AssociateThe Fiddler Realty Team/eVantage Real EstateLic # 01494165 www.SearchForOrangeCountyHomes.com Serving all of Orange County, California Real Estate! Buyer's Agents, Listing Agents, Short Sales, REOs, Equity Sales, Investors SEARCH THE MLS HERE Orange County Home Search Orange County ForeclosuresOrange County Short SalesBuyer InformationSeller FAQsContact Us With Your Questions

Glen Campbell At Lake Mission Viejo July 23, 2011

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Thu, 21 Jul 2011 10:26:20 -0700

This sounds like a good time. Thank you mom, for making me a fan old the old time artists... on those long road trips as a kid. I also remember bringing my older son several years ago to summer movies at the lake. It was some good outdoor family fun, kinda like the old drive in theaters- only better! Time for a concert! YEEHAW is right! Time to get your "Yee-Haw" on and come down to Lake Mission Viejo to hear a FREE Concert by Glen Campbell. Every year the Mission Viejo Lake Association offers a concert series for it's members and guests. These free concerts require only a beach chair or blanket and your good nature. Sit on the sand or save space on the green in front of the stage. Saturday July 23, 2011 7pm Main gate opens at 6am to get good seats. Once members (with ID) have entered the gate they will be given wrist bands of various colors. Randomly, the colors will be called and members can enter and place 1 blanket in the concert area. Once all colors have been called, members can re-enter and place chairs and/or additional blankets, if room. Karen FiddlerBroker/AssociateThe Fiddler Realty Team/eVantage Real EstateLic # 01494165 www.SearchForOrangeCountyHomes.com Serving all of Orange County, California Real Estate! Buyer's Agents, Listing Agents, Short Sales, REOs, Equity Sales, Investors SEARCH THE MLS HERE Orange County Home Search Orange County ForeclosuresOrange County Short SalesBuyer InformationSeller FAQsContact Us With Your Questions

SOLUTION DESCRIBED - AGENT 100% LIABLE FOR 30% PAYMENT TO IRS BY COLLECTING RENTS FOR A FOREIGN OWNER

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Sat, 16 Jul 2011 12:38:45 -0700

I have had a surge of requests (ok two) in the last week regarding foreign buyers. I am definitely motivated to improve my working knowledge of foreign borrowers. I think these types of transactions will increase if (? I know...) the dollar continues to be weak. This is a very interesting post I came across. Very good to know...This is a follow-up article to my post AGENT 100% LIABLE BY COLLECTING RENTS FOR A FOREIGN OWNER TO PAY 30% TO THE IRS here on Activerain. Several readers (and clients) requested information on how to continue to properly represent foreign person owners of USA properties that receive rental income, and NOT be liable for the 30% mandatory withholding requirement of the IRS. Indeed the answer is to obtain and retain a CERTIFICATE OF FOREIGN ORGANIZATION FOR US TAX WITHHOLDING - also known as IRS Form W-8ECI. In order to avoid the requirement that 30% of the GROSS income from the rental of a property owned by a foreign person, the IRS Form W-8ECI is a mandatory document to be received by any real estate property manager. The Instructions state that the Form W-8ECI when properly completed and executed, allows the withholding agent (the property manager collecting the rents) to be excused from submitting the mandatory 30% of the gross rents to the IRS as a withholding tax. The form must be maintained by the withholding agent! It is NOT sent to the IRS, but must be available for inspection. The form is only valid for 3 years, after which you must get a new form signed and dated by the foreign person. I would suggest it be retained for 10 years after income is no longer received on behalf of the foreign person by the property manager. An explanation of the completion of the IRS Form W-8ECI is as follows: Line 1 of the form is to be the name of the foreign person. If it is an entity and there is a single owner, then the form should be filled out with the single owner's name and the entity name and identification number can be put in on line 8. Line 2 should be filled in with the country where a foreign company named on line 1 is formed. Line 3 is a check the box. Select the entity that best shows what form of the entity is best. Line 4 is for the permanent address of the person or entity entered on line 1. Line 6 is for the US taxpayer identification number. This is for the person or entity on line 1, the social security number (SSN), employer identification number (EIN), or IRS individual taxpayer identification number (ITIN). Most foreign person property owners will likely need an ITIN, which is obtained using Form W-7 and usually takes 30 to 45 days to receive. If you are an individual and qualified to obtain a SSN, this is obtained through the local Social Security Administration Office using Form SS-5. Line 7 is for those whose country of residence has issued them (individual or entity) a tax identifying number. For example, a resident of Canada would enter their Social Insurance Number. Line 9 is to enter the items of income that are effectively connected with the conduct of the trade or business in the United States. For a rental property, enter the address of each rental property. The Certification at the end of the form needs to be signed by the beneficial owner of the income, or if the beneficial owner is not a person, then by an authorized representative or officer of the beneficial owner. If it is being signed by a Power of Attorney, it is recommended that IRS Form 2824 be used and be attached to the Form W-8ECI. Note that if a Power of Attorney is used, the agent along with the principal (beneficial owner) may incur liability for the penalties provided for an erroneous, false or fraudulent form. Therefore, I would not recommend doing your client a favor and using the Power of Attorney form - remember, the road to a lawsuit is paved with good intentions............. SPECIAL NOTICE: THIS IS NOT SPECIFIC LEGAL ADVICE AND IT IS NOT INTENDED TO BE LEGAL ADVICE TO ANY ONE CLIENT IN PARTICULAR. YOU SHOULD CONSULT WITH YOUR ATTORNEY BEFORE FOLLOWING THIS OR ANY GENERAL LEGAL OPINION. THE AUTHOR ASSUMES NO LIABILITY FOR ANY PERSON ACTING ON THE INFORMATION CONTAINED IN THIS ARTICLE. ---------------------------------------------------------- Copyright 2011 Richard P. Zaretsky, Esq. Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make. This article is for information purposes and is not specific advice to any one reader. Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660 RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide! Shortsales@Florida-Counsel.com New Website www.Florida-Counsel.com See our easy to find articles SHORT SALE AND LOAN MODIFICATION ARTICLES - TABLE OF CONTENTS

YOU can get listings from an asset manager too!!

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Tue, 12 Jul 2011 05:20:14 -0700

Freddie Mac introduced HomeSteps recently. This is their foreclosed home inventory and is similar to Fannie Mae's Homepath program (only there is no special loan program for HomeSteps). HomeSteps does offer closing cost help for a buyer and a nice discount on new appliances in addition to a two year home warranty. If you have not signed up to represent buyers or sellers yet, now is the time. The inventory will likely increase as the distressed inventory continues and more of the properties are sold through Fannie and Freddie. Homesteps is fairly new so now is a good time to get in on the ground floor. Here is the link for the Homesteps page: http://www.homesteps.com/ Below are links to Homepath and also to the HUD portal where other REO inventory (and therefore agent listing or selling opportunities) can be found: http://www.homepath.com/ http://portal.hud.gov/hudportal/HUD?src=/topics/homes_for_sale These programs need experienced and knowledgeable agents to guide clients through what can be a very confusing process, especially in this challenging market.

My Facebook Business Page Became An Extension of My Website

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Fri, 01 Jul 2011 09:50:06 -0700

This is impressive. I want to share this with others for not only the fact that I honestly did not know this was possible but also as something to strive for, at least for me. Technology is something I am constantly working to learn more about and improve upon for my business. Facebook is one of the most powerful online technology tools available and it's growing at such a seriously blazing speed. Everywhere I turn it seems like people are online viewing Facebook, checking their messages from Facebook, talking about Facebook, you probably already know that they have even made a movie called "The Social Network" which is about Facebook. The bottom line is that Facebook is huge and I believe Facebook is the NEW Google of today. While I was standing in line at the Best Buy checkout counter the lady in front of me was updating her Facebook status. What totally blew my mind was that she was fully emerged in Facebook. When I got home from Best Buy I was watching the news and the news anchor was reporting on a breaking story and at the end of his report he said "for an update on this story be sure to visit our Facebook page". He didn't say come to channel 10 news.com!!! He said FACEBOOK!!! We recently launched a new Facebook Business Page Facebook.com/SamMillerTeam which was created by our friends at Real Pro Systems. If you have a basic understanding of marketing and branding you know it is critical that you maintain a consistent look and feel throughout all of your marketing. A compelling benefit of our new business page is that it extends the branding and theme of our KnoxCountyOhio.com website which Real Pro Systems also designed for us. Our new Facebook Business Page is completely interactive and it is truly an extension of our primary website and it maintains our team theme and brand. The new page design is unique because it not only features a custom "Welcome Page" but it also features two fully integrated client connection pages. These pages enable the consumer to register and receive Knox County Listings by Email automatically and they can also request to list their home with our The Sam Miller Team using these online forms. These unique pages are actually functioning within Facebook with the help of Real Pro Systems design team and they are uniquely integrated within my KnoxCountyOhio.com website. An impressive feature that will save our team some valuable time is that once a consumer registers using our new forms within our Facebook business page our KnoxCountyOhio.com website will automatically sync the client contact info within our Real Pro Systems website. When a consumer visits our new Facebook business page they can preview all of our real estate listings. Each of our listings rotate in a slideshow format and they have a fully functioning and integrated link that is clickable and takes the visitor directly to that listing on our KnoxCountyOhio.com website. This is much more visually pleasing and far more productive than using a website widget that drives consumers to competing websites like Postlets, Zillow, Trulia and REALTOR.com. Would you rather have consumers surfing websites like REALTOR.com or would you rather have them viewing homes on your own website? The answer is obvious and by utilizing an integrated Facebook Business Page like we have just launched you can do exactly what Facebook was designed to do which is connect with people. Take a look at our new Facebook.com/SamMillerTeam pages and if you like what you see please "Like" us while you're there. Sam Miller Team of REMAX Stars Realty (740) 397-7800 Knox County Ohio Real Estate

Important! Things NOT to do during the loan process....

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Fri, 01 Jul 2011 07:56:38 -0700

There are things you should never do during escrow, whether refinancing your current home or purchasing a home. Once you are qualified for a home loan, ANY change in the financial snapshot that is your loan application can change your approval. Below is the advice I include in an "important information" document in my new loan set up package for each and every client: During the process Many times the lender will ask that we re-verify credit, income, employment and asset information. This can even happen after you have signed your final loan papers. With this in mind, we ask that you comply with the following items. Please do not apply for or obtain any additional credit. This includes real estate loans, auto loans, credit cards, 401K loans, personal loans, etc.. Co-signing on someone else's loan is also a problem. This even includes inquiries to your credit. Do not quit your job or change jobs unless it is in the same line of work, you have no job gap and it is for equal or more money. Please let us know if you anticipate changes like this as well as we can help you plan for them. Do not spend money unless it is necessary to do so (for monthly living expenses for example). Do not furnish your new home during escrow or buy new appliances. Wait until you close escrow so that your purchases do not jeopardize your escrow in any way. Do not change bank accounts or transfer funds between accounts. In fact, save as much as you can. The bank likes to see increasing bank balances. Keep in mind that ANY changes can affect your loan application and approval and can change or jeopardize the terms of the loan and the loan processing as we have discussed. Please call us if you need to make any changes and we will discuss options with you, in terms of timing and how this will affect your terms, if it will. Please make sure you continue to make all payments on time and keep copies of your paycheck stubs, bank statements and any bills we will be paying off with the loan. Be sure to make payments on all items before the due date, even if they are being paid off with the loan. Please call us if you have any questions.

Things I Didn't Know I Had To Tell Clients.....But Do!

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Thu, 30 Jun 2011 07:09:20 -0700

I just had this conversation with a client.... that knew better. :) I am going to blog my own list of things not to do for loan purposes during escrow to add on to this! Really?! As my husband says, common sense is not common.... Ok - maybe it is- but we sure get a case of dead brain now and then don't we?! I sure wish I was immune to dead brain myself... :) I read a great featured post today by Mike Cooper: Somebody Broke In and Painted My Listing!! Maybe you read it too? About a buyer whose agent gave them permission to go ahead and start painting before the close? Wow! Trouble is, that I've had these clients...have you? It brought back memories and I realized I had quite a list of things I didn't think I needed to tell clients....but did. Do not make repairs to a home you do not own yet Do not remove the sink in the guest bathroom before you move because "you really like it" Do not call the buyers and invite them for dinner before the close...where you talk about the problems you've had with the neighbor's kids Do not go out-of-town during the last week of escrow and forget to leave a key Do not move out and allow your nephew and his friends to "use" the place until the close Do not leave a pit bull in the house for showing (oh, he's friendly) Do not tell the sellers that you would do "anything" to live in that neighborhood Do not bring your dog to showings Do not let yourself into a home and show it to your mom Do not have a pool party in a vacant home because it's "almost yours" (yep, a listing of mine the buyers had a pool party the weekend before we closed) These seem like things you would not need to tell someone....but as I keep learning, you never know what people will do. Karen FiddlerBroker/AssociateThe Fiddler Realty Team/eVantage Real EstateLic # 01494165 www.SearchForOrangeCountyHomes.com Serving all of Orange County, California Real Estate! Buyer's Agents, Listing Agents, Short Sales, REOs, Equity Sales, Investors SEARCH THE MLS HERE Orange County Home Search Orange County ForeclosuresOrange County Short SalesBuyer InformationSeller FAQsContact Us With Your Questions

Pay Off Your Mortgage Early

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 27 Jun 2011 05:13:16 -0700

This is a great article from the OC Register. I get questions all the time on ways to pay off your mortgage early and this is a great article with good ideas: http://ocdeals.ocregister.com/2011/06/18/best-ways-to-pay-off-your-mortgage-early/99395/ Just do it! Imagine how it would feel to have your income all to yourself? How would it feel? :)

Capistrano Valley High School Marching Band, Mission Viejo: Urgent Financial Help

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Thu, 23 Jun 2011 05:45:08 -0700

I have just begun to hear about a new development to a very serious socio-economic problem that has plagued the education of our children for awhile now. Not only is our public education deteriorating with reduced funds from government, forcing the PTA to step up and provide necessary funding to prevent the elimination of arts, music, PE and other important, thought not the 3R's-BASIC, educational progams but NOW, the right of the parents to contribute (and therefore provide these programs) is being threatened because of a lawusuit by the ACLU saying it is unfair to children who live in an area where the parents cannot afford to pay! Does it make sense to take this education away from those whose communities are willing and able to make sacrifices to contribute to their children's future? This is a HUGE issue. If you can afford to help locally and provide for children who deserve the education that should be an unalienable right, please do so! Below is just one of the hundreds of local causes in need. This number, I suspect, is about to skyrocket. In 2010 the ACLU sued the State of California and specific School Districts over required fees to participate in extra-curricular activities. This includes Marching Band. The ACLU stated that since the state is required to provide a free public education, students unable or unwilling to pay to participate in these activities cannot be excluded on that basis. I'm not going to argue for or against this point! I will say, that I cannot believe that in our school, any child would be excluded by the inability to pay....and in fact have contributed extra many times to compensate for this...as have many other families I'm aware of. But it's irrelevent now. Our marching band is being affected. We had a parents's meeting last night to see what we can cut from this year. Less competitionsNo warm-up uniformsNo required shoes or uniform accessoriesLess staffLess equipment The kids are being affected. This is a group of parents, willing to help financially, who are being tied by the rules. Willing and able...and we can't! So we are asking our community for help. Title companies, escrow companies, local businesses, corporate matching programs. If you live or care about the CVHS Marching Band Program in Mission Viejo..please contact me with any ideas or donations. We can use private donations for any purpose! These tax-deductable (please check with your CPA for all tax advice) will make a huge difference. Last year, our band spent $75,000, we've trimmed that down this year to about $40,000 and the school district has given us less than $500. That's a problem! Please help if you can! Thank you.... Karen FiddlerBroker/AssociateThe Fiddler Realty Team/eVantage Real EstateLic # 01494165 www.SearchForOrangeCountyHomes.com Serving all of Orange County, California Real Estate! Buyer's Agents, Listing Agents, Short Sales, REOs, Equity Sales, Investors SEARCH THE MLS HERE Orange County Home Search Orange County ForeclosuresOrange County Short SalesBuyer InformationSeller FAQsContact Us With Your Questions

Summer kids' movies - $1~

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 20 Jun 2011 08:13:47 -0700

I am always looking for something fun to keep the kids occupied and enjoying their time off from school. This is a favorite and fits any budget: http://ocdeals.ocregister.com/2011/06/20/1-movies-all-summer-long/98729/ HAPPY SUMMER!!

Simple Steps To Follow For 1st Time Home Buyers

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 20 Jun 2011 08:03:22 -0700

I will have to write my own on this now... as I read the article and I can elaborate. But this is a great starter for first time homebuyers. I get this question OFTEN. The tax credit has expired but there are still tax credit programs like MCC available... Ask me about them! :) First time home buyers often ask this question: “Where do I begin with the Home Buying Process?” In other words, do I simply start looking for properties on the internet? Do I guess at about how much I can afford to put into a property? Should I be concerned about my Credit Score and more!!! Interesting enough, I have an article that I often refer people to on the internet. More important, this is an article that is effective and informative for almost any purchaser, whether a first time or multiple time home buyer. Here is the link and I strongly suggest you go there, read and digest the basic truths of this writing: A Must-Do Follow Through List For The First Time Home Buyer David Burrows David L. Burrows, Realtor® Classic Realty 4200 Evergreen Lane, Suite 331 Annandale, VA 22003 Serving: Gainesville VA, Haymarket and ALL of Northern Virginia Direct: 703.859.5188 Office: 703.637.1400Blog: David Burrows PropertiesBlog: Real Estate Starting PointBlog: Real Estate 101Search For A Home: Virginia Online Home SearchReal Estate Website: Burrows PropertiesIt is always an honor to assist Home Buyers and Sellers with their Northern Virginia Real Estate needs. If you want to search the MLS for Real Estate Listings, or even become more specific with your search, such as the Fairfax MLS, utilize the valuable tools on my website. If you are looking for a Home in Gainesville Virginia; the Haymarket Homes For Sale area; Condos For Sale In Fairfax Virginia; Fairfax Homes For Sale; or a home anywhere within the Northern Virginia Real Estate area, simply click on the appropriate link. I serve ALL of the above areas throughout Northern Virginia. Most important, Write, Phone or Text Me with any questions.

PILES... and other habits I'd like to break

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 20 Jun 2011 07:34:44 -0700

PLEASE read the entire post... this is SOOO not my desk!! :) And I am not really talking about piles! OK- not really... Yes- I have files piled on top of the open desk drawer to the left. And a stack of to-do paperwork for today on the right side of my desk... .....but the REAL problem is how much PAPERWORK that PILES UP in my email INBOX - that I NEED! Seriously, investors? So, I am a dedicated email inbox FILER. I actually often get my email inbox down to just a few emails or, on certain occasions, ZERO. (Though, truth be told, that is rare). I have read the books on getting organized and I follow most of the advice diligently. However, these days, the amount of paperwork I need from my clients.... is ASTRONOMICAL! I get to forward it on to my processor for stacking, reviewing and uploading or otherwise sending to the lender du jour for underwriter review. But, in order to be a GREAT loan officer, I need to review it as well. And ask questions. And ask for additional detail... and ultimately REALLY tick off most of my clients. I love this. (NOT!) My goal is to produce happy, well financially and emotionally adjusted borrowers. I do not want to scar them for life. The escrow process is bad enough without me badgering, cajoling and downright mistreating my clients. So...what is a sad but diligent loan officer to do? PILE and review. PILE SOME MORE. REVIEW SOME MORE. And repeat. I ask for as much paperwork up front as I possibly can, and I review all documentation as quickly as possible, and I have a second set of eyes reviewing it for back up support as well. And then I apologize and repeat. I explain and repeat. And I get as much paperwork waived as I possibly can, within reasonable limits. I educate my client on how to reduce the amount of paperwork we need. I tell them to keep accumulating the paperwork we need in one place and preposition them on what it will be. I must say, I have been getting as many apologies from clients getting downright rude and then realizing it later as I have been handing out while explaining the purpose of said PILES. I look forward to breaking the habit of apologizing profusely EVERY DAY for the seemingly endless stream of "supporting" documentation. And I look forward to breaking the habit of PILING my INBOX with my client's completely reasonable questions and concerns regarding WHY we need to know their shoe size and the birthdate of their father's best friend's uncle's rabbi. Please know: I answer all of the underwriter's questions with my PILES. And I cover their arses with my PILES of email attachments and faxed documentation. And I smile and bite my tongue. It IS required (the PILES I mean...) :) I do not WANT to beat you down for anything further. But, I will do my best to make the process more fun, be sure I educate you on what and why we need the items we need and make sure you have an positive outcome and that you are happy with how things went in the short and long run. I will even help you to enjoy and appreciate my PILES and how I handle them. Meanwhile, I am really looking forward to the next cycle, that lending environment where reason and common sense prevail. And I can just go back to some old and useless habit, such as biting my fingernails or pulling out my hair, instead of PILING relentless detail and paperwork in my INBOX!!

I'M CALLING MY OWN SHOTS! Plus a Few Others that the AR Gods Missed this Week

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 20 Jun 2011 07:06:59 -0700

There is some great information included in this summary of recent, great blog posts. I still need to spend more time perusing the posts and comments here. I especially love the relevance of vacation issues heading into summer and I REALLY appreciate all of the help I have been getting with my blog so love re-blogging to share and help those who have mastered this thing we call blogging!! KUDOS!! Well, this week there were so many really great posts here in the rain by some of my fave bloggers as well as some newbie bloggers that I've recently come across. First and foremost, I just want to give a shout out to my fellow rainers for their gold star features that I was happy to "call the shot" on them. Go pound sand and other words of encouragement. by Elizabeth Cooper-Golden These were excellent posts that had some really great comments, which is one of the best things I love about great posts. With some posts, the comments can actually be better than the post. Check them out. Then there were some other equally great posts that I suggested but that the AR Gods must have missed this week when they were bestowing those little gold stars. First there was newbie blogger, Sinead McAllister, with her post, SELLING A HOME WITH TENANTS. As an MLO who works with a lot of current renters who are looking to buy their first home, I hear the horror stories of what it's like to be the tenants of a home on the market. I know, I'm sure you all have horror stories of trying to sell a home with tenants in it and I assure you, I sympathize with you. Some tenants are horrible to work with but not all tenants are tenants from hell. Some tenants are actually wonderful tenants who are being treated like crap by not only their landlords but also by the sellers listing agents too. Don't even get me started on all of the buyers agents who disregard showing instructions or the bozos that knock on the door at all hours of the day and night asking if they can see the home. Anyway, the point is, many of these folks have a contract with the seller and most of them have done nothing wrong except pay their rent every month, on time, and be great tenants and then they get treated like crap because they want to be treated with some respect and consideration regarding showings. Anyway, Sinead makes a really great suggestion for working with tenants and it's a really good one. I wish more sellers thought about this. Then there was Giving Out a "Good" Referral by Connie Goodrich. Connie relays a referral story that she had recently. Connie's story illustrates why it's so important to qualify anyone that contacts us about utilizing our services regardless of whether they're a referral or not. Just because someone was referred doesn't qualify them as someone we should be working with. Connie outlines how we, as professional, can qualify a referral before we ever send that referral out. As professionals, we have a duty to qualify our referrals before turning them over to hopefully, someone we know, trust and respect. Wouldn't we want someone to do the same before turning over a referral to us? Next was Norma Toering with her post, Real Estate Landmines---Surefire Deal-breakers and Undisclosed Discoveries. Norma brings up a topic that is a huge problem here in Los Angeles county - undisclosed property defects and/or flaws. Norma advises buyers and their Realtors/agents to do their due diligence in order to avoid any future surprises or property "landmines". With our market absolutely saturated with so many short sales and REO's whose sellers flat out lie and deceive regarding the condition of their property and their listings agents who play dumb and refuse to acknowledge inspection reports (if you can even get them to accept one because they don't want to be obligated to disclose), it is absolutely vital that buyers and their Realtors/agents do their due diligence during the inspection contingency. Check out Norma's post for her suggestions. Then there was How Many Realtors Does It Take To Sell A House? by Pam Miller. Pam tells us a story about a scenario that happened to her recently. Pam's scenario reminds me so much of what it's like working with so many Realtors/agents around here. I'm not just talking about the Realtors/agents that go on vacation with no backups either. Before going on vacation folks, make sure you have a reliable backup and furthermore, make sure your broker is going to be willing to support your backups as well as your clients. As for Realtors/agents who work on "teams", correct me if I'm wrong, but isn't the whole purpose of being on a "team" that there is more than one person available to serve the clients. Isn't the whole benefit of buyers and sellers working with a "team" that there is a "team" available to serve their needs? Why is it then these "teams" seem to be the people that tend to disappear the most during a transaction? Why is it that no one on the "team" ever seems to be available when you need them? Good grief people!!! How many Realtors/agents does it take to sell a house? Next was Bill Travis with his post, NOTHING IS NEGOTIABLE ANYMORE. I liked this post so much, I reblogged it. Bill illustrates how potential negotiations are derailed before they even begin because of ridiculous requests from listing agents and their sellers. What makes this nonsense even worse is that some of the requests are not only illegal (RESPA violations) but unethical as well. While this kind of conduct is so typical of REO bank sellers and their REO listing agents, this type of conduct from listing agents and sellers for short sales and equity sales can be detrimental to the sale of the home. As long as buyers and their Realtors/agents tolerate this crap from listing agents and their sellers, this crap will continue to go on. When we see these types of violations, we need to report them because by reporting them, that is the only way it's going to stop. Lastly, there was Can This Blog Be Fixed? by Gene Riemenschneider. Gene asks a very good question and one that I myself would like to know too. As I have stated before, I personally consider it the community's duty to help out members who need help with their blogs. Anyway, check out Gene's blog and offer him some advice on ways he can resolve his blog issue. As always, I love "calling the shots". I'm pretty picky and selective about whom I suggest. I intentionally highlight my fave bloggers and then I look for new bloggers or bloggers that aren't on the feature board every other day. Anyone can suggest all the popular bloggers but finding the hidden treasures and gems is so much better. I hope you check them out and enjoy them as much as I did. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Donne KnudsenMortgage Loan Originator - C2 Financial Corp.NMLS# 249822 / DRE# 01364050805.2069123E-mail My Blog Serving low-medium income individuals and families as well as first time buyers with their mortgage needs including down payment assistanceLos Angeles County -- Ventura County© 2010 - All Rights Reserved

I recognized the name on my client's appraisal report!

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Tue, 14 Jun 2011 05:29:43 -0700

This is the FIRST time since HVCC was implemented that I have known the "local" appraiser completing my client's appraisal report! I have been doing this for 20 years. That is saying something!! I know a lot of appraisers and only so many are local. I was really disappointed to see that the appraiser made $200 and the third party management company (managing what?! I know there is more but seriously... mostly a phone list?!) made $165! I hear the management companies are now hiring staff appraisers for a few thousand dollars a month to save them (make them more) money. It sure would have been nice if the risk management savings had been passed on to the people doing the work and to the clients?! I do believe we have made improvements to the way we do business but things have gotten way out of control. Maybe we are not there yet but at some point the discussion needs to begin again on how to reign in the oversight, increase incomes and pass cost savings on to the consumers...

Your past blogs are an SEO goldmine...if you fix them.

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 13 Jun 2011 13:39:16 -0700

I have so much to learn... I can't say that I even understand all of this yet but it certainly sounds like something that is now going on my TO DO list! So much to do and so little time but eventually everything important makes it to the top of the list! As with most folks on Activerain, the articles I wrote when I first started blogging didn't have all the best SEO tricks already in place. Perhaps the articles were a little too short, I didn't have the right mix of keywords, etc. However, the raw materials are still there to make what I wrote a long time ago into some powerful content to help boost what I'm writing today. Here's what I've noticed after reading a few articles from other bloggers, go back and fix what you wrote in months or years past and the impact could be huge. A few things to fix include: Keywords - Align the keywords in your title with those in the body of your blog article. Don't change the URL of your post. If you don't want to change the title, then make sure you add the appropriate mix of keywords into your article. Highlight - Go back and bold all the keywords you added. If your articles already had the keywords, bold them too. Don't want time with generic keywords such as "real estate" but do focus on keywords that align to your local market and the topc. Highlighted words are given higher priority in Google. Article Length - I wrote a lot of very short articles when I first started writing and they didn't meet the 300-500 words sweet spot that my articles now generally meet. So, go back and add more content to otherwise short articles to expand them a bit. Tags - Add in tags that cover your most important keywords (core keywords) as well as those that relate to the article (topic keywords). What I've learned is that you need to use your core keywords as tags in every article and then add in the topic keywords as tags tailored to each article. I haven't completed doing this project on my own blog yet but the little I have done has made a huge difference in my SEO rankings. Just so you know, when you change your signature, it automatically updates your signature in all yoru blog posts. That can help boost your article rankings as well. If you really want to learn more, I recommend reading articles by Craig Daniels, Victoria Stankard, or Tammy Emineth who, in my opinion, know this topic much better than I do. IMPORTANT: Please read comment #15 from Russell Ray and DON'T edit posts before May 1, 2009!If you have enjoyed reading my blog, please subscribe HERE! Bryan Robertson, Broker Associate Realtor, Developer, e-Pro Sereno Group - Los Altos 369 South San Antonio Road, Los Altos, CA 94022 Mobile: (650) 799-9951Email: bryan@serenogroup.comWebsite: http://www.bryanrobertsonhomes.com Blog: http://www.YourLosAltosBroker.com DRE# 01191946

Don't Blame Homeowners for Today's Housing Crisis...

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Thu, 09 Jun 2011 09:28:14 -0700

This is a tough discussion. I think each individual situation is different. But who is the judge and jury? We can all take this market as an opportunity to grow, to look at how we can be better and do better. I take my part in the education of my clients very seriously. In fact, often I take it more seriously than the client does. This tells me I am on the right track in pushing forward to change the boundaries and financial status of those who trust me as an advisor! The first thing I read this morning was a featured Activerain blog post titled The McMansion Extra Value Package : Is it REALLY the Bank's Fault You Can't Afford Your Home Now? I disagree with the premise that all home buyers who took advantage of low-down and no-down loans to buy a home in the early 2000's were greedy. There were a lot of responsibible people who puchased homes well within their means who have been hurt in today's real estate market. I don't believe it's entirely their own fault if they and others are in a financial crisis now. And I don't really believe it's entirely the bank's fault, either. It's a symptom of the overall dismal economy, in my humble opinion. Sure, there were some naysayers predicting a housing collapse, but plenty of experts shunned that idea. To be fair, I think we have to go back to those so-called “bubble years” and remember what the housing market was 5 or 6 years ago: Home buyers qualified for loan programs that were widely available, most people felt secure in their jobs, and there was no reason to expect anything other than continued growth in property values. Level off, maybe... but, in their experience (and ours), home prices never went down before. We all knew that declining home values might be possible in theory, but it seemed unlikely based on decades of real estate history in this country – certainly in the D.C.-Baltimore-Annapolis triangle, where we live and work. It's real easy to sit in an ivory tower now, point fingers and, in hindsight, sweep all those home buyers (and banks) with a broad brush labeled “greedy” - It's just not fair or accurate. In my experience as a REALTOR, responsible people used low-down and no-down loans to purchase an average home - a 2 or 3-bedroom townhouse with an hour-long commute to work or a modest 40-year old split foyer in the D.C. suburbs that needed updating - NOT a McMansion. People felt they had to buy “now” - before home prices went any higher and completely out of reach in their lifetime. They anticipated re-financing in a couple of years, as home prices continued to escalate and their equity grew. Home buying and borrowing decisions were made in good faith, based on conditions at the time – and no one had a crystal ball in their back pocket to predict the future. Fast forward five years to 2011, and frustration fills the air as many people lose their jobs or at least their job security, the price for gas and commuting goes up… higher costs for health care loom... taxes and fees are on the rise… bullies and bad guys threaten our kids online and on the street… our nation is threatened daily by extremists who chant in the streets of their homeland, “Down with America!”… and (drum roll, please) home values plummet. This must be a nightmare! Unfortunately this is today's reality, but it won't fix anything to play the blame game or wallow in a pity party. Let's go about the business of coping with this situation and finding a way to make lemonade out of lemons. It could begin with something as simple as a random act of kindness for a stranger… or a smile. I'm sure you remember the Louis Armstrong recording “When You're Smiling”, so let's think about that as we do our own personal and professional best, focusing on the positive. In plain language, “Fake it 'til you make it!” Who knows… we might actually spread enough smiles to make a difference in someone's life, even if we can't magically cure the housing market overnight. With that in mind, let me share with you some positive articles about today's real estate market. Why don't you pass them on to friends and clients… maybe you can put a smile on someone's face. It's a good start. Americans Still Want to Own Homes (TheMReport.com - 6/11) Housing and Economic Forecasts Points to Rising Activity (NAR – 5/11) 5 Reasons You Should Consider Selling Now (KCM Blog – 5/11) Still a Good Time to Buy a Home (Gallup Poll – 4/11) Home Sweet Home. Still. (Pew Research Center – 4/11) Real estate: It's time to buy again (CNN Money – 3/11) Why your best investment is a house (Wall Street Journal - 1/11) Most people who purchased a home 3–6 years ago are still making timely payments on their homes, even though they probably owe more than their homes are currently valued. Give them a break… don't blame them for today's housing crisis. It's not fair! Honestly, I don't believe real estate professionals or mortgage loan originators have any room to blame home owners for the housing crisis, because most of us went along for the ride a few years ago and even introduced our clients to those low-down and no-down loans. Just sayin'...Copyright 2006-11. All rights reserved. DISCLAIMER: Information contained in this post is deemed reliable on the date of publication, but it is not guaranteed and it is subject to change without notice.________________________________________________________________________________________ For information about communities, homes, and real estate in the D.C. - Baltimore - Annapolis triangle, contact: Margaret Woda, REALTOR and Associate BrokerLong & Foster Real Estate, Inc. (410) 721-1500 OfficeDirect: (301)346-2923 or EMAIL FREE home search online (No registration required)FREE home search APP for your iPhone/iPad (demo)

HOPE for a homeowner....

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Thu, 09 Jun 2011 09:07:00 -0700

I like to share the stories of clients of mine who are finding help during their time of need. So many of us are hearing stories of sadness, families losing their home and a lack of help. Here is a story that needs to be shared if for no other reason than to give hope to others in a difficult time. I truly saw this situation as bleak and, before I spoke with my client, thought they were destined for foreclosure and that the forbearance was just the last step before the bank takes the house back. I will call my clients Bob and Sharon. Bob was successfully self employed for decades in a construction type job. He was the family's sole income earner. He had some serious health problems several years ago and could no longer work. They have had medical expenses and a lack of income to deal with for many years. Sharon was forced to go back to work as Bob can no longer provide any means of financial support. First they had family to help make their house payments. They tried for a loan modification and it dragged on forever, to the point where their family could no longer help them and they could not make their payments. Highly distressed and at their wit's end, they went to their local congressman's office and asked for help. His staffers gave them a contact at their bank. They found a CARING and HELPFUL direct contact who now has them in a partial payment situation for 6 months that they are calling a forbearance. But it sounds more like a temporary or pre-loan modification type plan where the bank can see if they can make the partial payments. They plan to write to the CEO of their bank and look for a permananent solution. Their advocate with the bank gives them hope on a regular basis that this is at least possible if they can just get their income up a little bit. They are focused on that and there is HOPE. I have heard success stories of letters written to the CEO or board of directors at the banks as well, after literally YEARS of waiting and multiple modification declines. While many of these situations end in disaster, it is always a feeling of renewed faith for me and something happy to share with clients who are being dragged around and feel like their pain will never end. Know that there are solutions. They are not always fast and they can take some dedication but it is worth the effort if you are willing to do what it takes to stay in your home. Get a second job. Sell some stuff. Write a letter to higher ups at the bank. Visit your local congressman's office. KEEP calling and asking for help. IF you can afford to make a payment on your home, there may be help available. Talk with a good Realtor who discusses options and results with you, supports whatever decision you make but who also explains your situation in firm language. There may come a time where you have to detach and move on. Look for all of the possible answers and some dedicated guidance in a professional and GOOD LUCK! There IS hope!

It's RAINING...

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Thu, 09 Jun 2011 08:46:51 -0700

I had the ABSOLUTE pleasure of meeting an Active Rain celebrity in person! Karen Fiddler is a client's dream! It is not every day that I meet a Realtor with her level of integrity, ability to service a client with experience and knowledge and true grit. Just read her blog to get an idea of who she is and how she operates on behalf of her clients. This is not only a testimony to a bright star but also to Active Rain. She and I met through her blog and then met at the local Starbucks because we hit it off. We shared stories of our travels through the treasure map of our real estate lives and bonded over current market woes and interesting tidbits of helpful client information. I hope that Karen and I will find opportunities to help each other and work together for years to come. THANK YOU Active Rain!

The ActiveRain Point System

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Tue, 07 Jun 2011 08:58:37 -0700

I find that it is always good to have a refresher on how to keep points rolling around here.(Ok- still learning new things every day- I admit it!) :) I have decided that more points equals more exposure, which means more people who can learn how brilliant I am (or at least that I know what I am talking about and want to help)! Is that completely big headed of me? AND, I can't help but always be setting the next goal to reach! I have made my first three. On to number 4 with an eye on number 5 as my longer term goal... (ok and number 6 as my really long term goal!) :)The ActiveRain Point System ActiveRain awards members points based on participation and their individual involvement within the network and community. While there is a much more complicated and technical explanation of how the point system works, this post is to provide you with a general overview of how points are earned and distributed to all ActiveRain members. ActiveRain points are earned based on a member's individual activities and efforts. Points are accumulated over the course of the calendar week which starts Monday morning at 12:00am Central Time, and ends Sunday night at 11:59pm Central Time. The following are some ways you can earn points and move up the "Featured Member" ladder in your local area: 200 points for each blog post (Max 10 per week) (50 word minimum required) 25 additional points when post is added to channels with a topic 400 points for Featured Post on ActiveRain.com(Excludes posts featured in ActiveRain groups) 25 points for each comment(Max 10 Per Day) (Comments on your own posts excluded) 25 points for each reBlogged post(Max 10 per week - these do not include your own posts) ActiveRain profile points(Building your ActiveRain profile will build points) Received comments on blog posts(No blog post to exceed 475 pts.) 100 points awarded for logging in to ActiveRain each day(This applies 7 days a week) 250 points when someone accepts your ActiveRain invitation(Must sign up under Member's Invite Code) 10% of total points earned by new members invited by you(Example: invited member earns 1000 pts. - you earn 100 pts.) ActiveRain and member approved contests - points will vary(These show up as "Bonus Points" in your Point Summary) Staff awarded bonus points - these are issued by the ActiveRain staff(Member Humanitarian, Paying It Forward, Helping Others, etc.) Weekly Point Scenario: The potential of points available per week, per member would be as follows: 1750 for max comments, 2000 for max blog posts, 700 for logging in daily, 250 for adding to Channels/Topics, and 250 for max reBlogged posts. The weekly potential of points would be 4950 (this does not include Featured Posts, comments received, invitation and percentage points, contests, and staff-awarded bonus points.) Point Disclaimer: The Points System created by the ActiveRain Network was developed and implemented to motivate, inspire, and reward members for their participation and involvement within the community. These points are subject to change at the discretion of the ActiveRain Mgmt. Team, with or without cause, warning, or notice.

Homeowner forecloses on BANK!

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Mon, 06 Jun 2011 09:59:07 -0700

I thought this was a joke when I first saw it... "GOOD one", I thought. Well, it is even better when it is the truth. (Isn't that really what makes humor funny after all... the truth in it?) Read for yourself: http://www.digtriad.com/news/watercooler/article/178031/176/Florida-Homeowner-Forecloses-On-Bank-Of-America Big banks. People love to hate them. They loan us money to create stability for our families so we can buy the roof over our heads we call home. And we thank them for that. But, seriously, watching out for each other or, at the least, some extra due diligence could do corporate American some good. It is good for all of us to get a reality check once in awhile, even when it does not suit us. Bank of America: Consider this yours.

Anyone know someone looking for a graphic design sales position? Job posting

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Thu, 02 Jun 2011 08:45:01 -0700

Sales/Account Executive Our Anaheim based graphics company is looking to add Account Executives to expand our business. If you have a minimum of 3 years sales experience with a proven track record of developing leads, referrals and closing larger sales in the $10K to $50+K range, we are interested in talking to you! Earn commission on every sale you make. Base salary with a draw against commission. Earn $40K to $100K+ per year. Full benefits and 401(k) available. Job Summary: This position will have the responsibility to identify opportunities, manage the marketplace, build a strong sales pipeline, develop relationships, prospect, manage sales projects, and close business. Business Development Responsibilities: • Prospect • Develop sales pipeline • Develop and maintain long term relationships in the market • Identify all legitimate business opportunities • Meet with every account in the assigned marketplace • Ongoing tracking and strategic planning for upcoming 12 month opportunities • Meet and exceed budgeted sales revenue • Display high ethics standard, integrity, work ethic, and company loyalty Required Credentials: • Three plus years of GRAPHICS sales experience OR • Three plus years sales experience in the following industries: Hospitality, Healthcare, Entertainment, Sports Venues, Marketing, Interior Design, Technology, Manufacturing, Aerospace, Colleges, Government Agencies. • Proven sales numbers documenting over achievement • Working knowledge of PC applications including Word, PowerPoint and Excel • Basic word processing skills • Strong organizational skills Potential candidates must possess excellent communication skills, phone skills and be self-motivated, hard working, proactive and eager to sell a wide range of high quality products and services! Devising and using fresh approaches to finding creative solutions to client needs is what we are looking for! Candidates with a helper mentality, a competitive spirit and the ability to be a team player should send their resume to: HYPERLINK "mailto:salesresume@photomation.com" salesresume@photomation.com.

Mortgage Professor says....

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Wed, 01 Jun 2011 09:42:32 -0700

Can You Time a Lock to Your Advantage? May 30, 2011 Home mortgage prices are based on the secondary market prices of mortgage-backed securities (MBSs), but changes in MBS prices seldom impact mortgage prices immediately. Typically, mortgage lenders set the prices they deliver to their loan officers and mortgage brokers in the morning, after markets open, and keep them unchanged through the day unless MBS changes during the day are large enough to justify the cost of another change. The MBS market closes at 3pm EST. Mortgage borrowers who have been cleared to lock by their lender can do it between 3 and 5 EST, and sometimes even later. In principle, therefore, a borrower who knows what happened to MBS prices that day could judge whether mortgage prices the next morning would be higher or lower, and therefore whether they should lock then or wait another day. Borrowers don't have ready access to MBS prices, but I do, and I decided to provide a daily service, with the help of Jack Pritchard, advising borrowers whether or not to lock. We arranged to obtain the timely MBS prices we needed from Reuters, and planned to release the lock advisory daily at 3:05 EST. It would be a nice addition to my web site, I thought. But first we had to test the premise that changes in MBS prices during the day predicted mortgage prices the following morning. To do that, we measured the difference between the opening and closing prices on MBSs during each of the previous 100 days, and compared the price changes to the mortgage rate change the following day. We did not expect a perfect correlation, because things happen that affect MBS prices after MBS markets close, but we did expect to find a statistically significant relationship. In fact, we found no relationship at all. Even the largest intra-day MBS price changes did not predict whether mortgage rates would open higher or lower. For the 10 days with the largest MBS price decline, the subsequent mortgage rate changes were 5 increases and 5 declines. For the 10 days with the largest MBS price increases, the mortgage rate changes were 4 increases and 6 declines. We struck out. In previous articles on locking the price of a mortgage, I have encouraged borrowers to lock ASAP, on the grounds that 1) borrowers can't predict future interest rates, and 2) locking ASAP may prevent larcenous behavior by the lender. That advice still stands. © 2011 Mortgage Professor

Interest rates have dropped .25% this week!

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Wed, 01 Jun 2011 09:22:44 -0700

Follow Me On:

Sheila GoulartPresident & Senior Loan ConsultantSynergy Financial Group Inc.Phone: (949)388-9254 x101Fax: (949)388-9372License: 01247838SGoulart@SynergyFGI.comwww.SynergyFGI.com

Interest Rates Change Daily Interest rates change constantly, but it is important to know that rates are cyclical. If rates are currently at historical lows then we know there is a strong probability rates will go up again, and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data, and consumer confidence all have an effect on mortgage interest rates. But the key factor to watch is the relationship between stocks and bonds.When the economy is slow and the stock market is "bearish," many investors move money out of stocks and into bonds and mortgage-backed securities. This causes mortgage interest rates to go down. When the economy is doing well, the stock market rallies and is considered "bullish." Investors then have a tendency to move their money out of that safe haven of bonds and mortgage-backed securities and back into stocks. As a result, mortgage interest rates go up.My team and I keep a close eye on mortgage interest rates at all times in an effort to alert our clientele of opportunities to obtain lower financing. Call us for a free evaluation of your current loan program.

Mortgage Interest Rates for Fixed and Variable Rate Mortgages*

Rates as of Wednesday, 1st June, 2011:

	Term	Conforming	APR	Payment per$1,000	Jumbo	APR	Payment per$1,000	Arm Reset Term
10-Yr. fixed	120	3.375%	3.375%	$9.83	3.875%	3.875%	$10.07	-
30-Yr. fixed	360	4.5%	4.500%	$5.07	4.75%	4.750%	$5.22	-
30-Yr. fixed FHA	360	4.5%	4.500%	$5.07	4.5%	4.500%	$5.07	-
5-Yr. fixed FHA	360	3.375%	3.375%	$4.42	4.25%	3.75%	$4.92	60

*Rates are subject to change due to market fluctuations and borrower's eligibility.

These are NO COST loans with no points and no fees today! Jumbo rates are JUMBO CONFORMING program options with loan amounts ranging from $417,001 up to $729,750. This limit applies to certain high cost counties.

Buying Your Mission Viejo Home Is A Series Of "Yeses" Not One Big Decision

Sheila Goulart Siegel (Synergy Financial Group, Inc.) — Tue, 31 May 2011 04:59:13 -0700

I love it when something as big as escrow that we Realtors, lenders and other industry partners all handle ON BEHALF OF our clients day in and day out is so nicely constructed into detail that calms the nerves of our clients and explains my thoughts so nicely. Homebuying is a process. It is a SERIES of decisions and not just one big decision that gets a homebuyer to the finish line! Sometimes we find ourselves in escrow on a home we decide, upon new information being presented, that we no longer want and that is what the contingency period is meant for. Gather information, review and discuss it, make the decision that suits you as the buyer and proceed accordingly. Buying Your Mission Viejo Home Is A Series Of "Yeses" Not One Big Decision This is one of the first things I tell Mission Viejo Home Buyers when we meet. Finding a home to write an offer on is the very first step in this process....not the last step. Understanding the entire process of Home Buying can really demystify and provide comfort that there are many opportunities to change their minds. As long as the answer to the questions are "Yes" we keep moving toward the close...and the first "No" we move on. Yes....I want to write an offer on this home Yes....I will accept the counter offer price Yes...I like the results of the inspection report Yes...I like the loan rate and terms I got Yes... the final walk-through went great Yes...I'm ready to close. Of course there are many smaller stages to these items. If the inspection report does find some things we don't like....then there are request for repairs and negotiations. And if it's a short sale....we might need to consider new terms from the short sale lenders, such as a higher price or cash contribution. But again....once we hit a "No" we close escrow and move onto another property. I really think this takes the fear out of the Mission Viejo Home Buying Process....I hope so! I want my buyers to feel comfortable during the entire transaction, keeping things as a simple "Yes" or "No" brings it down to a simple level which just makes sense. Start your Home Buying research by visiting my website with it's state-of-the-art MLS Search. Mission Viejo, San Clemente, Anaheim Hills, Irvine, Huntington Beach and Rancho Santa Margarita are among the many Southern California Cities we service. And we will never ask you to sign a binding Buyer-Broker Agreement....we want you to work with us because of our service and performance! Call/email today and let's talk about your goals for your new home. Karen FiddlerBroker/AssociateThe Fiddler Realty Team/eVantage Real EstateLic # 01494165 www.SearchForOrangeCountyHomes.com Serving all of Orange County, California Real Estate! Buyer's Agents, Listing Agents, Short Sales, REOs, Equity Sales, Investors SEARCH THE MLS HERE Orange County Home Search Orange County ForeclosuresOrange County Short SalesBuyer InformationSeller FAQsContact Us With Your Questions