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Mortgage 101Mortgage 101Helping Homeowners In Southern California's Inland Empire With Real Estate and Mortgage
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Inland Empire California: Inland Empire Real Estate Markets Still Hot | Inl
2007-08-23 21:17:00 I don't know if I'm alone on this one, but I may explode if I hear the term "sub-prime" used one more time. During my two month hiatus from the real estate blogosphere, I've watched dozens of mortgage lenders and brokers abruptly die out. Today, Bank of America just bought $2B in preferred stock from Countrywide Home Loans to help keep them alive (Los Angeles Times). We're seeing history in the making ladies and gentlemen. We all saw it coming, but I must say, I am astonished at how swiftly the changes occur ed. It's safe to say that what the housing industry has experienced is more like a death blow than a "correction." Between all the foreclosures and layoffs, it seems as though everyone is scrambling to find a solution to the housing meltdown. For all my loyal fans out there (yes, you Mom), I'm excited to announce my return to the world of real estate blog writing. Once again, I promise to spend long nights in front of the computer and ignore all 'femalien' distractions t... More About: Estate , California , Real Estate , Markets , Empire
Page 1 on Google for Mortgage 101 in 6 Months For $0.00
2007-04-26 20:21:00 VICTORY IS MINE!!!!!Apparently this stuff actually works. All it took was a couple of books and an obscene amount of time writing articles. What it didn't take was money to do it. As of today, 4/26/07, this website is now in sixth place on Googl e for the keyword search "Mortgage 101," behind only:1st- Mortgage101.com (go figure)2nd- Mortgage101.com (again)3rd- Consumer Credit Repair4th- Moving.com5th- Amerihome MortgageI recently teamed up with a couple other real estate professionals who are interested in blogging, but even more interested in helping me get away from the computer. The site is not quite up and running yet, but it's going to be called http://www.thecaliforniaroll.com/. I will be introducing Martin Elguera, Owner/Operator of iWantDocs.com and Rich Spott of Re max in Motion in NorCal's East Bay Region. With Rich being a realtor along with Martin's experience as a processor and notary, I think the blog will offer a nice balance of real estate knowledge from the diff... More About: Page , Gage
Links for 2007-04-22 [del.icio.us]
2007-04-23 07:00:00 Can iWantDocs.com save your real estate or mortgage brokerage? In wake of the recent housing bubble, the real estate and mortgage industries have undergone some drastic changes. One of the more obvious changes is the number of real estate and mortgage brokers now in business. When the business was good, there was ple More About: Links
Southern California's Stalemate For Real Estate
2007-04-22 06:13:00 California's on-going standoff between buyers and sellers continues for yet another month. Home buyers are practicing thier patients while stubborn sellers refuse to lower their prices. The Fed showed little mercy in the near extermination of Sub-Prime mortgage lending last week. Despite wide-spread uncertainty within the housing sector, California's home prices remained relatively unchanged from a year ago. More About: Estate , Real Estate , State , Mate , Real
Can iWantDocs.com Help Save Your Brokerage?
2007-04-22 06:05:00 In wake of the recent housing bubble, the real estate and mortgage industries have undergone some drastic changes. One of the more obvious changes is the number of real estate and mortgage brokers now in business. When the business was good, there was plenty to go around and keep every one's pockets full. However, the bubble burst last year, and the industry has since experienced a major reality check. The correction in the market continues to force weaker brokerages and lenders out of business. Broker s able to survive these challenging times are doing everything they can to cut costs in order to pull a profit. During the housing boom, revenue was plentiful so operating costs were not a major concern. But since the market took a turn for the worse, minimizing costs has now become top priority.A new company that operates out of Southern California's Inland Empire called iWant Docs.com, has taken steps in providing low-cost solutions for real estate and mortgage brokers alike. They p... More About: Brokerage , Save
How NOT To Live Like A King
2007-03-13 05:58:00 Living in the Inland Empire of sunny Southern California definitely has its perks. It's seventy degrees outside without a cloud in the sky.....in the middle of FEBRUARY. If I got in my car and drove west for half-an-hour, I'd be at the beach where it's just as sunny and warm. If I drove for the same amount of time going opposite direction, I would end up at a ski resort that's half-buried in fresh powder.OK, so maybe I'm exaggerating about that fresh powder. The point is, I could go surfing in the morning, ski in the evening, and never be more than 50 miles from my house. If I still don't have your attention, maybe you can relate better to this....We play golf 12 months out of the year! Sure, sometimes it gets a little chilly and I'm forced to wear long pants, but I try not to complain too much. Sometimes I hear about these crazy ice storms on the east coast that get so cold, entire states loose electricity. The only reason the media even reports this stuff to us is to update... More About: Live , King , Like
Anything But Sublime for Sub-Prime.
2007-03-07 15:10:00 This week, the Federal Reserve officially acted on their plans to put the choke hold on the Sub-Prime lending. Backed by Congress, the Fed came down hard on New Century Financial Corp. and Fremont General Corp., two of the top Sub-Prime lenders in the country. To make a long story short, both companies are guilty of predatory lending. Another way to say it...they were giving loans out to people who couldn't afford them. All the buzz about increasing numbersin foreclosures is a direct result of questionable lending tactics from companies like New Century and Fremont.I would be interested to see the actual percentage of foreclosures in comparison to loans funded by these two companies. Having worked with them personally over the years, these particular lenders built a reputation for being the "go-to-guys" of the industry for difficult loans. So much so, in fact, that underwriting (or lack there of) became the focal point over loan programs and interest rates for generating new busin... More About: Lime , Thing , Anything , Rime
Links for 2007-03-02 [del.icio.us]
2007-03-03 07:00:00 How Not To Live Like A King More About: Links
Inland Empire: Lock in Your Interest Rates Soon!
2007-02-16 18:36:00 Stronger economy lifts mortgage rates - Feb. 1, 2007The Fed met last week to discuss their on-going worries about inflation. Thankfully, they decided that prices were stable enough (for now) to keep the over-night bank rate at 5.25%. The bank rate does influence mortgage rates directly, however, there are other factors. Mortgage rates are also heavily influenced by the 10-Year Treasurey Note. Over the last month, average interest rates on 30-Year Fixed mortgages have gone up almost half a percent. There's no need to start chewing your fingers off if you still need to purchase or refi. I'm still looking at rates of around 6% for an A+ borrower with decent equity. This statistic might make you feel better:If you take all the mortgages for the last 30 years and averaged up the interest rates, you would have a number higher than 10%.Just off the top of my head, I think the 18% mortgage rate we saw in the 80's may have been a contributing factor....My point is, we are still in a favor... More About: Interest Rates , Empire , Interest , Land , Rest
Case Study #1: The True Power of the Blog
2007-02-16 15:42:00 DirectLoanPro.com This article is in response to yesterday's blog titled:Nearing the End For Realtors and Mortgage ProfessionalsYesterday, I sumbitted the article listed above to www.ActiveRain.com. In case you're not familiar with it, www.ActiveRain.com is one of the top sites for online real estate and mortgage networking. To say the least, my article proved to be extremely controversal,as it sparked a debate that has carried over to today. The real estate and mortgage professionals shared some thought provoking opinions both for and against my argument. The discussion.....correction.....debate lasted all day, proving to be my most pivotal topic yet.I decided to write a follow-up blog to thank everyone again for participating in the debate. The overwhelming response I received was worth every minute I sat in front of my computer yesterday.Since we all work in the same [housing] industry, whether it's in real estate or mortgages, we're affected by the same changes. The structur... More About: Power , Study , Blog , Case , True
Nearing the End For Realtors & Mortgage Professionals.
2007-02-11 20:50:00 Web real estate firms shake up home economics - Los Angeles TimesWell....so much for having my own niche, huh? If I told you that the housing industry has only begun to "dabble" into generating sales via the internet, you'd probably think I was joking. The internet has indeed become a powerful tool for both realtors and mortgage lenders, but to what extent does it generate new business? I guess another way to ask that is:"Can a website do the same job as a realtor or a mortgage professional?"The answer is....ABSOLUTELY! It's already in the works. At this point, it's still used mostly to suppliment the work of realtors and loan officers. However, emerging websites like Real tor .com are providing buyers and sellers with much of the same information as their real estate agents. Zillow.com is another popular website which is used for determining real estate values all over the country. Like many other industries, real estate & mortgages transactions will soon be generated, processed, ... More About: Realtors , Mortgage , Alto
A Home-Buyers Checklist
2007-02-04 04:19:00 Inland Empire Mortgage LenderIf you're in the market to buy a home, make sure you have all your basescovered. This article explains the important steps involved in purchasing a home, and can serve as a checklist for anyone unfamiliar with the process. Remember: As a buyer, you currently have all the negotiating power, so don't let it go to waste! Don't be affraid to low-ball an offer. You just might be supprised at what sellers are willing to take for their homes right now.Happy hunting...microid: 80dadeca4403cfffda828f76a75bb8b108be934ch ttp://feeds.feedburner.com/Mortgage101 More About: Home Buyers , Home , Buyers
Links for 2007-01-28 [del.icio.us]
2007-01-29 07:00:00 A Home-Buyers Checklist If you're in the market to buy a home, make sure you have all your bases covered. This article explains the important steps involved in purchasing a home, and can serve as a checklist for anyone unfamiliar with the process. More About: Links
Links for 2007-01-19 [del.icio.us]
2007-01-20 07:00:00 Zero Money Down In Southern California? More About: Links
Top 5 Ways To Instantly Boost Your Credit Scores
2007-01-19 06:56:00 Nine Ways to Improve Your FICO Credit Score and Four Reasons Why You Want ToBelieve it or not, some of us have problems with paying our bills on time. I think it’s fair to say that most of us have had at least one debt go unpaid at some point in our lives. Whether it was a $5 late charge from Blockbuster you forgot about or a late mortgage payment to the bank, we’ve all been guilty in some form or another. For those of you guilty of the latter, this article’s for you. Chances are if you’re not making your mortgages payments on time, other debts are also being neglected. You already know the best way to fix this problem...PAY YOUR BILLS ON TIME! But if you’re looking for a “quick-fix” to boost your scores today, start taking notes. Working with “Sub-Prime” borrowers, as they’re called in the mortgage industry, I’ve become somewhat of an expert on repairing credit scores. Just as important though, I have learned to help my clients maintain their scores once we’... More About: Cores , Boost , Scores
Zero Money Down In Southern California?
2007-01-19 06:47:00 RealEstateJournal First-Time Home Buyers Look at Houses AgainAs I mentioned in an earlier article, it's a good time to make a commitment and buy a home. Interest rates are still low and housing prices have hit their floor. Frankly, it may not get any better for quite some time. The Fed keeps talking about inflation worries, which means higher interest rates. Real estate values have nowhere else to go but up. They won't go up as fast as they did, but at least we're headed in the right direction. Oh yeah, did I mention that buyers have plenty of homes to choose from?Right now, buyers have all the negotiating power!Take advantage of it because it won't last. I've been telling my buyers to "low-ball" their offers because most sellers WILL accept it (if they want to actually sell their home). Sorry sellers, but that's how economics works....Supply and Demand. Also, seller paid closing costs seems to be pretty standard right now. Today, I priced out a zero-money-down loan for a cl... More About: California , Money , Down , Southern , Zero
Links for 2007-01-16 [del.icio.us]
2007-01-17 07:00:00 Save money with our Budget Forum More About: Links
10 Steps To Take Before You Sell Your Home
2007-01-11 20:37:00 California: Inland Empire: Real Estate & Mortgage : Refinance, Purchases, and Debt ConsolidationIf you just put your house up for sale recently, don't start packing yet. Sad but true, the national averages indicate that homes are staying on the market for around 90 days. What worries me about that is most of the people selling right now don't have that much time. In fact, most sellers right now are down right DESPERATE!The increasing numbers of foreclosures proves my point...Consistent double digit gains to put it all in perspective. SCARY!OK, if you're still serious about selling that house, even after selling that...you better get to work. You've probably heard the numbers on housing inventory, so you know there's competition out there. If you've never been in sales, allow me to extend to you a little knowledge. With market conditions like these, you have to face the facts. Right now your home "comes a-dime-a-dozen". The only way you have a chance to sell is if you meet ... More About: Home , Sell , Step , Fore , Steps
Links for 2007-01-10 [del.icio.us]
2007-01-11 07:00:00 Mortgage 101: America Struggles to Afford Housing Cash-out Refi? More About: Links
America Struggles to Afford Housing
2007-01-10 17:34:00 It's no secret now that real estate values were grossly overstated a year ago. Many beleive it still to be true in areas like California and Florida. When real estate is over-valued, it means that housing prices are higher than what people can afford. Over the last few years, housing prices went up while income remained constant. Where I live in Southern California, first time home buyers are looking at mortgage payments between $3,000-$4,000 a month. At this point, these numbers are still unrealistic and will therefore continue to fall. I would love to hear what any realtors in the same area are saying about this. Agree or disagree? More About: America , Housing , Sing
Links for 2007-01-09 [del.icio.us]
2007-01-10 07:00:00 Top 5 Ways To Instantly Boost Your Credit Scores Credit repair tips that can boost your scores today, and help you keep them there for tomorrow. More About: Links
The Real Estate Tomato: Business Plan 2007: Blog For Leads
2007-01-01 15:58:00 The Real Estate Tomato: Business Plan 2007: Blog For Leads More About: Real Estate , Business Plan
Some Great Tips to Help You Make an Informed Decision
2006-12-27 16:49:00 Find Today's Rates on Mortgages, Refinance Loans, Home Equity Loans, and Mortgage Calculators on Yahoo! Real EstateSo you've been tracking real estate values in the area, waiting for that right moment to make your first home purchase. You think that prices have bottomed out, but there's no way to be sure. Even top economic analysts can't seem to agree on what's in store for the housing market. While you focus all your attention on location and prices for your home, you forgot to take other importanat factors into account.First time homeowners often find themselves in this position. This real estate web page has some useful links to help prepare you for what's ahead. Educating yourself with the mortgage procsess ahead of time increases your chances of finding the best possible loan. To qualify potential borrowers, mortgage lenders pay close attention to these three criteria: -Credit (Fico) Scores -Loan-To-Value Ratio -Income StatusLearn now, and be r... More About: Tips , Great , Decision , Make , Sion
It's Official...
2006-12-22 07:57:00 10 housing markets that will rise in 2007 - Dec. 21, 2006...your savings account promises higher yields than your home. The days of cash-out refi's and 100% financing are coming to an end. Our homes are no longer the ATM machines they used to be. Expect the 30 year fixed mortgage to make a big comeback this year. Unfortunately, most of the people who need traditional loans like these aren't going to qualify. Trillions of dollars worth of home loans will be adjusting this year with very little equity behind them. This makes tough loans near impossible to qualify for.Being a mortgage professional, I'm going to have my work cut our for me. A major surplus of homeowners in need of loans that don't exist. I will always try my best to qualify any borrower, but I won't make any promises. If you're a savvy real estate investor who specializes in foreclosure listings, start liquidating your assets now. I have a feeling you will have plenty of inventory to choose from this coming year. More About: Official
Bloomberg.com: Economy
2006-12-07 01:07:00 Bloomberg.com: Econ omy This article may be a bit much for most of you. I'm not saying you won't understand it, I'm saying that most people might find it boring. However, it affects all of us so I'm compelled to comment on it. The Fed continues to express fears of inflation, despite rumors of rate cuts. Oddly enough, the bond market has ignored any threats of rate increases and continues to perform well. Mortgage rates are directly affected by the 10-year treasury note, which is why we're seeing this years lowest mortgage rates. The rate for a 30yr fixed mortgage has fallen to 5.58% (not including points). It may continue to fall even further depending on how the Fed responds. More About: Bloomberg , Bloom , Berg
Mortgage applications rise 8% as interest rates tumble - Dec. 6, 2006
2006-12-06 15:20:00 Mortgage applications rise 8% as interest rates tumble - Dec. 6, 2006Next year, over a trillion dollars worth of temporarily fixed mortgages will be adjusting. If this is you, or if you are not sure, you need to find out all the terms and conditions of your loan immediately. You can get updated rates on my site at www.DirectLoanPro.com. Fill out an application if you would like me to lock in an interest rate for you today.The evidence is scary. I talk to people every day who put themselves into positions they can't get out of. For many, it's too late to do anything about. If you don't know all of the details of your current mortgage, you need to find out. Your home may be depending on it. More About: Applications , Interest Rates , Mortgage , Interest , Rest
The 25 Best Affordable Suburbs in the U.S. + Slide Shows
2006-12-06 12:46:00 Low crime, reasonable commute, and good schools—who says you can't find a nice house in a suburb without paying a fortune?read more digg story More About: Slide , The U
The End of the Housing Slump! - Dec. 5, 2006
2006-12-06 03:22:00 Builder Toll Brothers sees housing slump near bottom - Dec. 5, 2006I wanted to post this message to anyone who might be on the fence about buying a home. If the housing slump truely has bottomed out, you may want to think about purchasing before prices go up again. The linked article has more information about the new trends. More About: Housing , Sing , Slump , Lump
The Club at Port St. Lucie
2006-12-03 19:04:00 The Club at Port St. Luci e Attention real estate investors. Have you thought about purchasing investment properties out-of-state? Click the link above to see some new property listings available in Florida.Are you living in California but can't afford to buy??? Consider buying out of state to build your equity. Soaring housing prices in California are making it impossible for younger families to buy. Investing out of state is a great way to build capital for a down-payment on a home here in California. More About: The Club
Don't believe the rumors!
More articles from this author:2006-11-30 09:57:00 Bernanke maintains that inflation is a big risk - Nov. 28, 2006I have heard many rumors that interest rates are going to be cut early in 2007. The truth is, the Federal Reserve is still worried about inflation and they don't plan on cutting rates any time soon. In fact, homeowners should be more worried about the Fed increasing rates than anything else. National averages for current mortgage rates are the lowest we've seen this year. If you are planning on waiting for rates to come down before you purchase a home or refinance, you may want to re-evaluate your situation. My best advice to anyone thinking about restructuring their mortgage is to do so now. The article linked to this blog has more information about interest rates. More About: Rumors , Believe , Mors 1, 2 |
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