santa rosa home loans: The Housing Sump is Over! What?
- 10/06/09 07:08 AM
What? Haven’t you heard that the housing slump is over with? You must be seeing the same news reports I am. News reporters expounding that both the new and pending home sales are up. Come on everybody let’s jump in now before it is too late! For the past few months that’s all the news has been reporting; new home sales up over last month, pending sales up over this time last year. I think the news organizations need a realty check and should start reporting the figures as they really are. Although it is human nature to not want to (0 comments)
santa rosa home loans: Realize You Must Seize The Day
- 02/10/09 08:30 AM
“Seize the day, and put the least possible trust in tomorrow.” Horace quotes (Ancient Roman Poet. 65 BC) The above words were never more true in today's mortgage climate. As I mentioned in my previous blog, "Refinance and Purchase Why Not Wait?", I explained why it was not wise to wait to lock in a rate at this time. But there are many of you who are still on the fence, debating with yourself whether this is the time to lock your interest rate. If you are in the market to refinance, I am sure over the past weeks you (0 comments)
santa rosa home loans: 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)
santa rosa home loans: 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)
santa rosa home loans: Peggy Sue's Classic Cruise
- 06/02/08 07:15 AM
Do you like vintage, classic custom cars and trucks? Do you miss the old days of the Do Wop bands? Then you need to plan for the the Peggy Sue's All American Cruise on June 14th and 15th at A Place to Play Park 2375 3rd Street Santa Rosa CA. There will be music from Do Wop bands, along with some great food. Here is the current schedule of events: Saturday, 06/14/2008 7:30 am - 10:00 am Sign-in and Car Line-up A Place to Play Park, 2375 W. 3rd St., Santa Rosa, CA 7:30 am - 10:00 am Participant, Vendor and Sponsor Breakfast A Place (1 comments)
santa rosa home loans: Santa Rosa Home Loans-First Time HomeBuyers It's Scary-Ascent Home Loans
- 05/27/08 06:23 AM
As we go through life, there are a number of firsts for all of us. The first time we take a step. Our first word. First time we drive a car. But one of the scariest firsts is the first time we purchase a home.All the processes and steps we have to learn and remember. Finding a real estate agent and lender. Calculating and re-calculating your income and debts, and even after all those calculations, still not sure if you want to go through with it. How will you make the payments? What if one of us loses our job? What (0 comments)
santa rosa home loans: New Rules For First Time Homebuyers-Santa Rosa Home Loans-Ascent Home Loans
- 04/07/08 06:36 AM
Never before have things changed so quickly in the mortgage industry. Interest rates increase and decrease depending on the markets, on an hourly basis. Loan programs are being changed sometimes on a daily basis, others are being discontinued all together. With this in mind, first time homebuyers who were counting on the first time homebuyer loan programs with 100 % LTV or 0 down must be aware that those programs are no longer offered. Over the past month the MI or better known as mortgage insurance companies have cut back their exposure to these types of loans. They will now only insure (0 comments)
santa rosa home loans: 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)
santa rosa home loans: Santa Rosa Home Loans-New Conforming Rates For Santa Rosa and Sonoma County-Ascent Home Loans
- 03/07/08 05:08 AM
On the heels of the Federal Housing Administration's increases in the maximum loan amounts for Sonoma County, both Fannie Mae and Freddie Mac have released their increases today March 7,2008. Following the lead of FHA, the new conforming rate for Sonoma County will be $662,500. Although this increase is currently only temporary until the end of the year 2008, it should help many families to refinance out of their high interest rate adjustable rate loans. For those who have been waiting to refinance out of their current adjustable rate mortgage, the time is here. For example, if your current adjustable interest rate (0 comments)
santa rosa home loans: Santa Rosa Home Loans-New FHA Loan Limits For Santa Rosa and Sonoma County-Ascent Home Loans
- 03/06/08 06:41 AM
With the mortgage crisis in full swing, a temporary reprieve has finally come from the Federal Housing Administration. As of March 05,2008 the FHA maximum loan limits for Sonoma County have been raised from $362,000 to $662,500. What this means for both current borrowers and future home-buyers is a short term chance to either refinance out of your high interest rate adjustable mortgage, or for those that have been waiting to once again be able to purchase a home with less than a 700 credit score. As an added bonus, most of the time the FHA interest rate is lower than the standard conforming Fannie Maw (0 comments)
santa rosa home loans: Santa Rosa Home Loans-The New FHA-Ascent Home Loans
- 02/29/08 04:46 AM
As many of us have heard, the new stimulus package passed by both the Congress and Senate, and signed by the President will raise the loan limits for FHA loans until the end of the year December 2008. These new loan limits will be increased from the former California FHA loan limits of $362,000 to the new maximum loan limit of $729,000. However, borrowers must be made aware that as it stands right now, not all counties will receive the maximum. Median home prices are being reviewed by HUD and will be released, along with the designated increase in loan limits for that county or (0 comments)
santa rosa home loans: 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)
santa rosa home loans: FHA Bills to Help California
- 01/14/08 04:51 AM
With all the bad news coming out day after day about the credit crunch and housing market, it seems that one of the most important solutions to the housing problems seems to be getting pushed into the background. Very little has been mentioned for weeks about the bills in both the House and Senate and where they are currently in the approval process. I think many people in our business are also not aware of the differences in the proposed changes in FHA. Although certainly the House Bill would help California and other states with high median prices jump start their housing markets, (5 comments)
santa rosa home loans: First Time Homebuyer
- 11/27/07 11:20 AM
You have saved and scrimped your money to get yourself from under the wasteland known as renter, where you pay month after month and gain nothing in return. You finally build up enough nerve to move ahead and bam, the credit crisis happens. Day after day you turn on the TV and are bombarded by news stories on how the entire mortgage industry is collasping and no one is being approved for a loan. Does all this sound familiar? One cannot say that there are not major problems to overcome, but the mortgage industry is much more stable than the news media is reporting. One major (0 comments)
santa rosa home loans: Is the Hope Now Program More like False Hope Now?
- 10/15/07 09:55 AM
As we sit and wait what appears to be the Senate putting the FHASecure program on the back burner, we once again have the government, namely the Treasury Secretary traipsing out in front of the news media and declaring his support for"The Alliance" better known as the Hope Now Program. Although "The Alliance" sounds more like a group of superheros, I believe it is far from that. Let's take a look. Altogether, the alliance is made up of 60 lenders and servicer's, along with a number of counseling firms that will help borrowers caught in the sub-prime mess workout lower interest rates, payments, or spread (1 comments)
santa rosa home loans: 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)