mortgage: Want to Go Green? Visit The Solar Fair - 06/11/09 10:38 AM
 
 
If you one of the many who are eager to join the "Go Green" movement, what better way than go and check out the Solar Fair at the Finley Center in Santa Rosa on June 20th.  The fair opens it's doors at 11am and closes at 6pm.
In partnership with PG&E, the fair will have many activitesd throughout the day. You will be able to learn about solar enerthy and energy efficiency. There will be speakers, panels and also several workshops.
You will also be able to learn how to finance your home energy projects, along with how to … (0 comments)

mortgage: Santa Rosa Refinance - The Days Of Refinancing At A low Rate May be Coming To An End - 05/12/09 07:00 AM
Many potential borrowers have been hearing encouraging news lately in regards to the real estate market. In fact. today the numbers were released for construction spending and pending sales and they were both up. Other economic indicators over the past weeks have been improving also. But what does this all mean for the homeowner looking to refinance? All these improving numbers must be good for interest rates, right?
Not so. If you are one of the many waiting for rates to decline even further, you may be missing out on your opportunity to refinance at the current historic lows. With each … (0 comments)

mortgage: Senate Defeats Anti Foreclosure Bill - 04/30/09 09:14 AM
Today the Senate defeated the anti-foreclosure bill 45-51/ The bill was intended to help homeowners keep their homes through the bankruptcy courts. In the bill was the so called cram down provision that allowed bankruptcy judges to reduce the principal on borrower's mortgages. This in turn would have put pressure on the loan servicers to modify the loans prior to borrower's filing for bankruptcy.
Although some analysts have been stating that foreclosure have been slowing, in fact today's report showed that servicers have begun 290,000 new foreclosure proceedings against borrowers. This is a record high in foreclosure filings since foreclosures had … (0 comments)

mortgage: New Refiance Program To Help Borrowers - 04/27/09 07:48 AM
For many borrowers it has been a long and hard road over the past months to try to refinance their homes. Credit has been tight, mortgage companies are making it harder every day to qualify for a loan, and some borrower's mortgages are more than their homes are worth. But now there may be some relief for many borrowers.
As part of the Home Affordable Act, Fannie Mae has introduced the Fannie Mae Refi Plus program. The Refi Plus program is designed to help borrowers who are current on their monthly mortgage payments, but may benefit from refinancing into a mortgage … (0 comments)

mortgage: Refinance or Purchase Why Not Wait? - 01/15/09 03:39 AM
Every month the mortgage industry and also the federal government report whether mortgage applications have increased or decreased. Since the government has started purchasing loans, interest rates have fallen into the mid 4 to 5% range. This has brought about the opportunity many have been waiting for to refinance out from under their option arm mortgage or those that have high interest 30 year fixed loan. It has also given many potential borrowers the chance to buy that dream home they have been eying for months.
So why not wait a little longer to see if rates will drop further? What … (0 comments)

mortgage: Interest Rates Lower Due To Fed Intervention Time to Purchase or Refinance - 12/03/08 06:21 AM
Many of you may remember or many of you may have not even known that months ago when the Fed issued the statement that they would be taking over Fannie Mae and Freddie Mac that interest rates dropped 5/8 to 3/4 of a point over night.  That had been a drop from 6.50% to 5.25%. Unfortunately, it only lasted 4 days and many borrowers felt they had missed out on the short lived opportunity.
However, last week when the Fed announced they were going to buy up to $100 billion in Fannie/Freddie debt and $500 billion of mortgage backed securities backed by Fannie, Freddie and GNMA, interest … (0 comments)

mortgage: What Could It Hurt? - 11/13/08 06:50 AM
Everyday one can't pass a TV or newspaper stand without seeing a story on the spiraling economy, home prices, employees losing their jobs. You here it on the radio, standing in line for a coffee and even in restaurants.  The latter is what provoked this blog being written.
As I sat enjoying my lunch at a local restaurant here in Santa Rosa, I couldn't help but overhear 3 businessmen at the table behind me expressing their opinions about the economy and what they might do with their stock investments and 401 K's. All three must have been friends for sometime being that they were freely passing information … (0 comments)

mortgage: Mortgage Interest Rates Fall, For Now - 09/11/08 10:11 AM
Over the past year, there have been numerous failures in the banking and lending industries. Even the government tried with it's own feeble attempts to help borrowers with several failed programs such as Hope Now, FHASelect and the up and coming Recovery Act of 2008,  But who would have thought that the government taking over Fannie Mae and Freddie Mac would actually be the first thing to help borrowers to begin to refinance and purchase a new home.
Since the takeover of Fannie and Freddie, interest rates have dropped near;y 3/4% in some instances. Today you can find, depending on your credit score, debt-to-income ratio and LTV, a 30 year … (0 comments)

mortgage: Selling Real Estate? Literally Dangle a Carrot In Front Of Your Buyers - 08/15/08 06:27 AM
It's just been over a year since the real estate market has crumbled. Even though there was a little pickup in business in the middle of summer, that small jolt seems to be waning. So once again, here you sit thinking about all the renovations you've done to your home. The painting, updated the kitchen and bathrooms. You might even had hired a professional to come in and stage your home for an open house. But here you are, your home has had numerous potential buyers, but so have many other homes. They too have done the same upgrades to their homes. So what can you offer … (0 comments)

mortgage: VA Jumbo Loans, Who Knew - 08/04/08 06:59 AM
There has been much hoopla about the changes that have been made for the past year in regards to Fannie Mae, Freddie Mac and FHA. Freddie and Fannie have created Agency Jumbos along with FHA creating it's own FHA Jumbo loan program. Loan limits have been raised to help struggling borrowers refinance out their adjustable loan programs into 30 year fixed. But even though the stimulus package signed back in March of this year was passed to help current and first time home buyers, it missed the mark in helping out one of the most important citizens of our country. The … (1 comments)

mortgage: VA The Runt Of The Loan Program Litter - 07/29/08 05:01 AM
Over the past year since the mortgage and housing implosion has started, we have only heard about Fannie Mae this, and Freddie Mac that. Mortgage companies have come and gone, some deservedly.  Fannie, Freddie and FHA maximum loan limits have been adjusted upwards, thanks to the stimulus package and soon to a more permanent status by the Congress, Senate and President. Many new programs have been developed such as FHASecure and Hope Now to help borrowers who have an adjustable mortgage about to reset. But what about the runt of the loan program litter that no one is paying any attention too. What about … (1 comments)

mortgage: Who Sets Interest Rates? - 06/02/08 06:56 AM
Over the past few months I have had both current clients and potential clients calling and asking why haven't the interest rates dropped more. "The Fed Funds Rate is really low." "How long will it take for mortgage rates to go down also?" "I'm going to wait a little longer, I know they will drop because of the Fed Funds Rate."
Unfortunately, many borrowers and even some loan officers get confused when is comes down to who actually sets the mortgage interest rates. First of all, the Fed Funds Rate has actually nothing to do with where mortgage interest rates are. … (0 comments)

mortgage: It Never Ceases to Amaze Me - 04/20/08 09:32 AM
Over the past 10 years that I have been in the mortgage industry, it never ceases to amaze me the number of loan officers that refuse to work with potential first time homebuyers. What do I mean by potential? It means those first time homebuyers that have problems with their credit reports. What instigated the creation of this blog was the mere fact that 2 months ago I received a call from a potential FTH that had been turned down by several loan officers. They were literally told, "Your credit stinks", You have no business owning a home with your credit score", You'll end … (0 comments)

mortgage: Tips on Tax Deductions For the Homeowner - 03/16/08 08:16 AM
With less than 30 days left until April15th, many homeowners are scrambling to get their paperwork together for their tax preparer appointment. In all the frustrated and anxiety filled moments before the meeting, many homeowners may forget a few of the tax deductions they may be allowed. As a reminder, here are just a few that may help you with your income taxes this year. Be aware that before you make any of these deductions, you need to speak with a tax professional first before doing so.
1. PMI - Private Mortgage Insurance is an extra insurance that lenders require when … (0 comments)

mortgage: Competition Is Tough Prepare in Advance to Sell - 02/17/08 06:06 AM
With the passing of the stimulus bill now behind us, in a few short weeks Fannie Mae, Freddie Mac and FHA will release their new guidelines on loans above the conforming loan limit of $417,000. Although this will help to stimulate refinances and home sales, there are two things that homeowners looking to sell during this time must remember. The first is the bill is only effective until the end of the year, and second you will be competing with 1000's of other homes on the market. 
Now is the time you must sit down and create a plan of action on … (0 comments)

mortgage: Where To Get Mortgage Answers In Santa Rosa - 07/24/07 03:32 AM
With all the newspapers, TV News and stories on the internet in regards to what's going on in mortgage industry, sometime it might be a little scary to even think about getting a loan.  Loan programs have changed or have been entirely discontinued, everyone has heard about the sub-prime problems, in fact you may have a sub-prime loan right now as you're reading this. Mortgage companies all across the US have closed their doors.
Actually, things are not as bad as they seem. There are still plenty of loan programs available to current homeowners, investors and first-time buyers. Despite what the news reports have been … (0 comments)

mortgage: Having A Title Search On Inherited Property A Good Idea - 07/03/07 04:41 AM
The reason I am writing this, is due to the fact I had a client who recently tried to sell a home he had inherited from his parents. When there is a death in the family, many thoughts and feelings go through our minds. But once the wills are read, and the paperwork begins to settle, we eventually get back to our normal daily routines.
My client, who inherited his family home from his last remaining parent, went through all the necessary steps of keeping the items that brought back good memories and cleaning and repairing the home in preparation of … (6 comments)