Currently Browsing: Market Comentary

No Closing Costs: Is it Too Good to Be True??

No Closing Costs: Is it Too Good to Be True??

Have you seen the marketing ploys from mortgage companies that advertise no closing costs? Often, these marketing campaigns target homeowners who are interested in refinancing their mortgage. Don’t be fooled by messages that make claims that are too good to be true,…

Read More June 21, 2017
The Fed Meeting: What Does it Mean for Mortgage Rates?

The Fed Meeting: What Does it Mean for Mortgage Rates?

Yesterday was the second day of the Fed meeting, which means that it was the time when Janet Yellen announced a decision on the Fed Funds Rate. What does that mean for your mortgage? What is the Fed Meeting? Janet Yellen is…

Read More June 15, 2017
The Big 3: Short Sale, Foreclosure, and Bankruptcy

The Big 3: Short Sale, Foreclosure, and Bankruptcy

Often, we hear questions from customers who are wondering how past financial problems will impact their ability to get a mortgage. If you have recently gone through one of “the big three,” will you be able to get financing for your home?…

Read More May 24, 2017
Rent vs. Buy: What is Right for Your Family?

Rent vs. Buy: What is Right for Your Family?

As housing prices are increasing and rates are going up a little bit, many people are asking if it still makes sense to buy instead of rent. Before you make your decision, there are several factors that can help you determine the…

Read More May 17, 2017
Upgrading Your Home with the HERO or PACE Programs

Upgrading Your Home with the HERO or PACE Programs

Do you love the idea of adding energy efficient upgrades to your home and getting a tax break at the same time? The Property Assessed Clean Energy (PACE) Program is a financing tool for energy efficient upgrades for residential properties. Examples of…

Read More May 11, 2017
What Makes Mortgage Rates Go Up and Down?

What Makes Mortgage Rates Go Up and Down?

Mortgage rates are a constant topic of conversation in the industry because many people are wondering how rate changes will impact their ability to buy a home. Even though rates are commonly talked about, it feels like these conversations have peaked because…

Read More May 3, 2017
Potential Pitfalls in Your Real Estate Transaction

Potential Pitfalls in Your Real Estate Transaction

  When you are buying or selling a home, the hope is that the transaction will close without any major roadblocks or problems. But, it is common for pitfalls to come up, and we have seen some crazy things over the years….

Read More April 26, 2017
Tips for Buying a Home When the Inventory is Low

Tips for Buying a Home When the Inventory is Low

Last week we shared some statistics about the real estate market and how the inventory is affecting people who are buying or selling a home. To follow-up on this topic, today we are going to look at some of the strategies that…

Read More April 19, 2017
Real Estate Inventory: What is Really Happening in the Market?

Real Estate Inventory: What is Really Happening in the Market?

The talk in the real estate industry is that there is a shortage of inventory, making it hard for home buyers to find a property for their family. In our weekly Facebook live broadcast, we talked to Cale Thomas, a local real…

Read More April 12, 2017
Debunking Myths about FED Interest Rate Changes

Debunking Myths about FED Interest Rate Changes

We often have an increase in questions about interest rates when the Fed meets to discuss changes in the rates. Since there was a meeting last week, we have decided to address this issue to help you understand how these changes will…

Read More March 22, 2017
Will Solar Installation Affect Your Ability to Buy or Sell a House?

Will Solar Installation Affect Your Ability to Buy or Sell a House?

Residential solar power is becoming more common as people are looking for ways to improve the energy efficiency of their home. If you are buying or selling a property that has solar panels, then there are a few things that might pop…

Read More March 8, 2017
Why Many Buyers Might Be Better Off With an ARM

Why Many Buyers Might Be Better Off With an ARM

With mortgage rates at record lows, it has been rare for buyer to opt for anything other than a fixed rate loan.  However, as market conditions begin to sway and we’re seeing a slight uptick in rates, many buyers may be smart…

Read More March 2, 2017
Is a 15-year Mortgage Right for You?

Is a 15-year Mortgage Right for You?

When buying a home, some buyers have the ability and option to select a 15 year term rather than 30.  The same can be true for refinancing.  There are definitely benefits to a 15-year loan, including a lower interest rate, a shorter…

Read More February 23, 2017
Should You Worry About Interest Rates Trending Upward?

Should You Worry About Interest Rates Trending Upward?

Over the past few months, we’ve seen a general trend of mortgage rates heading in an upward direction.  Historically, this makes lenders, Realtors, and buyers a bit nervous. However, is there real reason to worry?  Perhaps not. What do increasing rates REALLY…

Read More February 16, 2017
Increasing Mortgage Rates May Have Some Positives

Increasing Mortgage Rates May Have Some Positives

Even though interest rates have been rising slightly, it isn’t necessarily bad news.   I’ve always held this opinion and so do a number of industry experts.  According to a recent article from Gina Pogol from The Mortgage Reports, increasing rates might even…

Read More February 9, 2017
A Few Thoughts on Your 2017 Mortgage Situation

A Few Thoughts on Your 2017 Mortgage Situation

We’re now in month two of 2017 (hard to believe)! If financing a home is on your to-do list for 2017, here are a few things you may want to keep in mind. Should you still consider buying a home? Buying a…

Read More February 2, 2017
Hold Off on That FHA Insurance Premium Reduction

Hold Off on That FHA Insurance Premium Reduction

A couple weeks ago, you might recall reports indicating that HUD was reducing the premiums charged for mortgage insurance by 0.25% beginning on January 27, 2017. For now, that plan has been suspended. Among fears that HUD may not have adequate reserves…

Read More January 26, 2017
Here’s What Homebuyers are Really Thinking…

Here’s What Homebuyers are Really Thinking…

Today I offer some food for thought to listing agents.  Perhaps these hints can help you to sell your next listing a bit faster! It’s very common for real estate agents to use certain “buzz” words when describing their listings.  Some time…

Read More January 19, 2017
FHA Reduces Insurance Premiums!

FHA Reduces Insurance Premiums!

The department of U.S. Housing and Urban Development (HUD) announced on Monday that they will reducing the premiums charged on FHA insured mortgages by a quarter of a percent (.25%). HUD secretary Julian Castro stated that four years of growth and the…

Read More January 12, 2017
How to Know When It’s Time to Refi?

How to Know When It’s Time to Refi?

We’ve been talking about how great interest rates are for a few years now and when rates are low, there’s always that thought that maybe it would be advantageous to refinance the house. So how do you know if a refi actually…

Read More January 5, 2017
6 Real Estate Predictions for 2017

6 Real Estate Predictions for 2017

With the New Year upon us and a new president being ushered in about 3 weeks, many are wondering what might be in store for the Real Estate market in 2017. Here are some bold predictions based on the thoughts and opinions…

Read More December 29, 2016
Will Rising Mortgage Rates Impact Housing?

Will Rising Mortgage Rates Impact Housing?

In case you haven’t noticed, mortgage rates are now at the highest level in two years and the Federal Reserve just raised rates on Wednesday. Even before the Fed’s move, the average rate on a 30-year fixed mortgage went up from record…

Read More December 15, 2016
Loan Limits Increase for 2017

Loan Limits Increase for 2017

Fannie Mae and Freddie Mac have announced an increase in the maximum conforming loan limit for 2017.  This is big news since it is the first such increase since 2006. Beginning on January 1, 2017, the new conforming loan limit for a…

Read More December 8, 2016
Possible Real Estate Trends for 2017

Possible Real Estate Trends for 2017

As 2017 is quickly approaching, many people might be wondering what they can expect to see in the real estate market for the upcoming year. A recent article in The Fiscal Times outlined several real estate trends the experts predict for the…

Read More December 1, 2016
What’s in Store for the Mortgage Industry Post-Election

What’s in Store for the Mortgage Industry Post-Election

There will be numerous mortgage and housing related issues that President-elect Donald Trump will face once he takes office in January. According to National Mortgage News, the following is a synopsis of some of these important issues that will impact the mortgage…

Read More November 10, 2016
California Association of Realtors 2017 Market Forecast

California Association of Realtors 2017 Market Forecast

According the 2017 California Housing Market Forecast, California’s housing market will post a nominal increase in 2017 as supply shortages and affordability constraints hamper market activity. The California Association of Realtors (CAR) forecasts a modest increase in existing home sales next year,…

Read More October 13, 2016
Fed Doesn’t Raise Rates…  For Now

Fed Doesn’t Raise Rates… For Now

On Wednesday, the Federal Reserve decided that a stagnant unemployment rate is the main reason to hold off on an interest rate hike, according to USA Today reporter Paul Davidson. Janet Yellen, the Fed Chair explained to reporters that despite having solid…

Read More September 22, 2016
California Senate Bill 1150 Approved

California Senate Bill 1150 Approved

Earlier this week, California’s Senate approved Senate Bill 1150, a new legislation designed to protect widows, widowers, and other heirs from unnecessary foreclosures. Called the Homeowner Survivor Bill of Rights, SBOR was approved by the Senate with 23 votes for it, and…

Read More August 25, 2016
CFPB to Offer New Rules for Troubled Borrowers

CFPB to Offer New Rules for Troubled Borrowers

Due to the financial crisis during the last decade, the Consumer Financial Protection Bureau (CFPB) was created to protect home owners. Over the last several years, the CFPB has introduced various rules to help troubled borrowers, and last week, it updated additional…

Read More August 11, 2016
Presidential Candidates Policies on Housing and Finance Factors in Voting

Presidential Candidates Policies on Housing and Finance Factors in Voting

With the presidential election less than five months away, one of the topics voters feel is highly important is the candidate’s policies on housing and finance. According to the results of a survey conducted for LoanDepot, 21% of Americans who responded to…

Read More June 23, 2016
Having that College Degree is an Advantage when it comes to Owning a Home

Having that College Degree is an Advantage when it comes to Owning a Home

A recent article in the National Mortgage News by Jacob Passy brings to light how being well-educated today has never been more vital when it comes to being a homeowner. According to Passy, First American Financial Corp issued a report citing the…

Read More May 12, 2016
How are Lenders Performing with TRID?

How are Lenders Performing with TRID?

A recent survey conducted by TD Bank’s Mortgage Service Index polled over 1,300 American homeowners over the past ten years who took out a home mortgage and found that even with the new TRID rule, home buyers reported a positive mortgage experience….

Read More April 28, 2016
4 Reasons to Be Excited About the Housing Market

4 Reasons to Be Excited About the Housing Market

Things are looking up in the housing market these days, for a number of reasons!  Here are a few factors that may indicate the housing marketing could continue in a strong and stable direction for a while.   Low Interest Rates Even…

Read More March 24, 2016
FED Leaves Rates Unchanged…  For Now

FED Leaves Rates Unchanged… For Now

Federal Reserve Board chairman, Janet Yellen, made her March statement yesterday, announcing that the FED would not be raising rates at this time. However, she also pointed out that ongoing economic growth and labor improvement could push inflation upward over the next…

Read More March 17, 2016
Great Opportunities Exist While Rates are Low

Great Opportunities Exist While Rates are Low

According to a recent article from CNBC, close to seven million homeowners aren’t taking advantage of the low mortgage rates and refinancing. Real Estate reporter Diana Olick explained that after the Federal Reserve raised its target interest rate in early December, it…

Read More March 10, 2016
Home Prices are Up, Rates are Down

Home Prices are Up, Rates are Down

Recent housing reports have indicated that across the county, housing prices are trending upward. The S&P/Case-Shiller 20-City Home Price Index, which is an index measuring home prices in 20 major metropolitan markets in the United States, rose 5.7% in December.  While this…

Read More March 3, 2016
Mortgage Application Volume Rebounds and Increases

Mortgage Application Volume Rebounds and Increases

Those in the mortgage industry concerned about the sharp drop in mortgage activity over the holiday season don’t have to worry. According to a recent article by Diana Olick from CNBC and the Mortgage Bankers Association, mortgage application volume increased 21.3% last…

Read More January 14, 2016
More on the Federal Reserve Rate Increase

More on the Federal Reserve Rate Increase

As I am sure you know by now, the Federal Reserve approved a quarter-point increase in its target funds rate on Wednesday, December 16. This was expected. The decision was given approval from the Federal Open Market Committee (FOMC) and marks the…

Read More December 24, 2015
How Will the Fed Rate Hike Affect Your Wallet

How Will the Fed Rate Hike Affect Your Wallet

By now, you’ve probably heard that the Federal Reserve Board did raise the prime lending rate by .25% on December 16, marketing the first such hike since 2006.  What exactly will this mean for you and your budget?  Let’s examine a few…

Read More December 17, 2015
Information About Second Mortgages

Information About Second Mortgages

In my last blog article, I provided information on Home Equity Lines of Credit (HELOC).  Sometimes, however, that can be referred to by a different name.  Many homeowners have heard the term “second mortgage,” but not everyone knows exactly what it is…

Read More November 12, 2015
The Investment Value of Your Primary Residence

The Investment Value of Your Primary Residence

  For this week, I am going to do something that I really don’t do and that is an opinion piece. We are going on 8-10 years since the significant fallout from real estate. And, more and more, I am starting to…

Read More October 22, 2015
Check Out My Fully Vetted Yellow Pages

Check Out My Fully Vetted Yellow Pages

One thing that I take very seriously is the effort I make to stay connected to other professionals within my service areas.  This means getting to know other business owners on a personal level, understanding their businesses, and vetting service providers that…

Read More September 3, 2015
Supreme Court Ruling May Boost Mortgage Demand

Supreme Court Ruling May Boost Mortgage Demand

According to a recent article by Bonnie Sinnock, the Supreme Court’s decision that makes same-sex marriage legal across the nation might boost mortgage demand as it will provide gay and lesbian couples with more financing opportunities and stronger joint property rights. Shoshana…

Read More July 8, 2015
Is a HELOC Cash Crunch on the Way?

Is a HELOC Cash Crunch on the Way?

During the height of the real estate bubble of 2004-2007, may homeowners opened a HELOC (home equity line of credit). This was a popular way for homeowners to tap into their home equity to fund purchases, including home improvements and education expenses….

Read More June 25, 2015
TRID Changes Postponed

TRID Changes Postponed

Many of you are probably already familiar with the fact the changes are on the horizon with respect to real estate and lending disclosures. TRID (TILA, RESPA Integrated Disclosure) was initially targeted to go into effect on August 1, 2015 but has…

Read More June 17, 2015
Freddie Mac Releases Mortgage Rate Forecast for 2016

Freddie Mac Releases Mortgage Rate Forecast for 2016

Government-owned Freddie Mac recently issued its mortgage rate forecast for 2016. This forecast comes from Freddie Mac’s broader report titled, “May 2015 U.S. Economic and Housing Market Outlook.” The report explains that according to Freddie Mac’s estimation, the average rate for a…

Read More May 28, 2015
Freddie Mac Suggests 2015 Could be a Great Year

Freddie Mac Suggests 2015 Could be a Great Year

According to Freddie Mac, 2015 could be the best year for home sales and new home construction since 2007, which is great news for all involved in the mortgage industry. Deputy Chief Economist Len Kiefer recently said, “This month kicks off the…

Read More March 26, 2015
Why is This Spring a Great Time to Buy a Home?

Why is This Spring a Great Time to Buy a Home?

Spring is in the air and it is definitely a great time to think about purchasing a home and stop paying rent. Lawrence Yun, the chief economist at the National Association of Realtors recently said, “The cost of renting is really high…

Read More March 12, 2015
Refinancing Your Home Still a Great Deal

Refinancing Your Home Still a Great Deal

Refinancing your home is always a big financial decision. And, with the mortgage rates still very low, if you’re a homeowner who has good credit and a steady job, it could be an excellent time to seriously think about refinancing. According to…

Read More February 26, 2015
Money Saving Tips to Consider

Money Saving Tips to Consider

Saving money has continually been something that we would all love to do, but unfortunately, it just doesn’t seem to be that easy. A recent article by Michael Camacho gives individuals some insight on how to go about saving that hard-earned money…

Read More January 22, 2015
Now is a Great Time to Refinance

Now is a Great Time to Refinance

Even though most Americans probably aren’t thinking about refinancing or buying a home during to the holidays, the next few weeks may in fact be a great time to do so. According to Gibran Nicholas, chairman of CMPS Institute, an organization that…

Read More December 4, 2014
Important News About HOAs and Foreclosures

Important News About HOAs and Foreclosures

There is some disturbing news out of Nevada concerning homeowners associations (HOAs) and foreclosures. According to a recent article in Mortgage News Daily, the Nevada Supreme Court has upheld a law which allows an HOA to foreclose on homes ahead of first…

Read More October 16, 2014
Mortgage News Network Set to Launch

Mortgage News Network Set to Launch

In the highly competitive mortgage industry, there can never be too many places to get information that may help give you the edge and increase your knowledge. Starting Monday, October 13, Mortgage News Network, an online-exclusive video resource offering programming for professionals…

Read More October 9, 2014
Should I Sell My Own Home?

Should I Sell My Own Home?

If you or someone you know is debating on selling a home as “For Sale By Owner”, think long and hard before making this decision.  You could be walking into a legal and financial nightmare. Take a quick look at the video…

Read More October 2, 2014
Foreclosures Up?  Opportunities for Investors?

Foreclosures Up? Opportunities for Investors?

This week there was news that more foreclosed homes are on the market again in August.  The cause of this activity is homes that went through a foreclosure years ago and banks are beginning to release more of this inventory into the…

Read More September 18, 2014
Reasons Behind Decrease in Mortgage Originations

Reasons Behind Decrease in Mortgage Originations

According to a recent post by Freddie Mac analysts, home buyers are not taking advantage of lower interest rates, as indicated by a decrease in mortgage originations.   These analysts identified three main factors for this decrease. The first reason is that the…

Read More August 28, 2014
The Importance of Knowing Your Credit Score

The Importance of Knowing Your Credit Score

Every potential home buyer knows the importance credit scores play in getting a good interest rate on a mortgage or qualifying for a mortgage at all. Knowing your credit score is vital to understanding where you stand in getting a mortgage with…

Read More August 21, 2014
Is Paying off Your Mortgage a Good Idea?

Is Paying off Your Mortgage a Good Idea?

With all of the financial responsibilities most people have, that elusive idea or dream of having financial freedom is something everyone continually thinks about. The majority of homeowners know that their mortgage is a major factor that is preventing them from this…

Read More August 14, 2014
Where is the Housing Market Headed?

Where is the Housing Market Headed?

I get asked this question quite often and I want to provide you with my opinion as to where the housing market is headed in the coming months. Take a quick look at the video below and feel free to contact me…

Read More August 7, 2014
Foreclosure Scams are Still Causing Problems

Foreclosure Scams are Still Causing Problems

Unfortunately, many homeowners are still struggling with the possibility of foreclosure. And, where there are foreclosures, there are foreclosure modification scams. It is imperative to understand that these scams can only lead to more stress and problems for the homeowners and if…

Read More July 9, 2014
What are Your Rights Concerning a Solar Energy System and Your HOA?

What are Your Rights Concerning a Solar Energy System and Your HOA?

Many homeowners live in a neighborhood where they have homeowners’ associations, also know as HOAs. There can be many positives with an HOA, but on the other hand, there can also be some restrictions as to what a homeowner can do with…

Read More June 12, 2014
The Spring Selling and Buying Season is Here

The Spring Selling and Buying Season is Here

It definitely appears that the “Spring Selling Season” may have finally arrived. According to the National Home Sales Snapshot, which was released by DataQuick, existing home sales improved for the third time in the past five weeks, including a 1.6% increase in…

Read More April 10, 2014
The Importance of Estate Planning

The Importance of Estate Planning

One decision that most homeowners would rather not think about deals with estate planning. But we all must realize how important it is to protect, preserve, and manage your estate if you become incapacitated or pass away. When is the right time…

Read More March 13, 2014
Jobs Reports and Interest Rates

Jobs Reports and Interest Rates

Economic reports and data are released on a daily basis.  Pending expectations for these reports will often dictate market conditions and could impact interest rates.  Working with a mortgage lender who closely monitors these reports can be critical if you are looking…

Read More March 4, 2014
Mortgage Tips for 2014

Mortgage Tips for 2014

If you are in the market to become a homeowner, it is very important to make sure you are prepared to act quickly when you find that ‘perfect’ home. And, with mortgage rates still at attractive rates, it is even more vital…

Read More February 27, 2014
Continued Decline in Mortgage Delinquencies a Positive for Housing Market

Continued Decline in Mortgage Delinquencies a Positive for Housing Market

More great news in the mortgage industry came out this past week as the mortgage delinquency rate hit the lowest in five years and actually dropped below 4% for the first time since 2008! TransUnion’s latest ‘mortgage delinquency report’ said that the…

Read More February 20, 2014
Tax Time and Home Mortgage Points

Tax Time and Home Mortgage Points

Like it or not, it’s tax time again. And, in order to make sure things go as planned, if you purchased or refinanced a home in 2013 you should get a copy of your HUD to your CPA.  (If you closed your…

Read More February 13, 2014
Important Home Equity Line of Credit Information

Important Home Equity Line of Credit Information

Back in 2005, there was a plethora of Home Equity Line Of Credits (HELOC) made. And, with many of these still around and close to resetting, some borrowers may no longer be able to afford these credit lines when they are required…

Read More February 6, 2014
Is a Reverse Mortgage a Good Option?

Is a Reverse Mortgage a Good Option?

One major conversation in the mortgage market is the reverse mortgage and its pros/cons. A reverse mortgage is a special type of home loan that lets you convert a portion of your home’s equity into cash. The equity that you built up…

Read More January 23, 2014
Signs Continue to Show Improvement in Housing Market

Signs Continue to Show Improvement in Housing Market

As 2014 begins, there are signs of continued improvement in the housing market. Various reports focusing on a lower number of delinquencies, an increase in home construction, and a lower number of loan modifications is great news on the mortgage front. A…

Read More January 16, 2014
Be Careful of Mortgage Scams

Be Careful of Mortgage Scams

Due to the economy’s financial status and the housing market that is slowly recovering, home buyers need to be cautious of the possibility of various mortgage scams currently out there. A recent article from Polyana da Costa from Scripps Howard News Service…

Read More January 9, 2014
What’s In Store for the 2014 Housing Market

What’s In Store for the 2014 Housing Market

Many people in the housing industry are wondering what 2014 will be like after a very eventful 2013. And, according to a recent article in the USA Today, here is what is expected in the upcoming year. Probably the #1 main topic…

Read More January 2, 2014
Fannie Mae & Freddie Mac Raising Fees

Fannie Mae & Freddie Mac Raising Fees

Potential home buyers who do not have the money for a big down payment and with less than perfect credit scores may be facing an increase in mortgage costs starting next spring. According to a few different articles by Nick Timiraos, mortgage…

Read More December 26, 2013
What Is Single Payment Mortgage Insurance and Is It Right for You?

What Is Single Payment Mortgage Insurance and Is It Right for You?

Home owners are always looking for a way to shrink their monthly mortgage payment, and one way that this can be done is to make a single , upfront purchase on your mortgage insurance. By doing this, the home owner would not…

Read More December 19, 2013
FHA Loan Limits Decrease in 2014

FHA Loan Limits Decrease in 2014

According to a recent report, the Department of Housing and Urban Development has just released the updated loan limits for Federal Housing Administration backed loans. Beginning January 1, 2014, the national maximum loan limit for FHA financing will be reduced, as specified…

Read More December 12, 2013
The Lowdown on the New CFPB’s “Know Before You Owe” Forms

The Lowdown on the New CFPB’s “Know Before You Owe” Forms

Last week I wrote about the Consumer Financial Protection Bureau’s new “Know Before You Owe” mortgage forms which will replace the current ones. Here, according to reporter James Linbach, is a closer look at the forms and their benefits. Form #1: The Loan…

Read More December 5, 2013
New Mortgage Disclosure Forms Will Allow Better Understanding For Consumers

New Mortgage Disclosure Forms Will Allow Better Understanding For Consumers

Many homebuyers in the past have had a difficult time understanding the jargon and information included in mortgage disclosure forms. However, that will hopefully soon end due to the Consumer Financial Protection Bureau’s new “Know Before You Owe” mortgage forms that will…

Read More November 27, 2013
FNC Index Shows Biggest Home Price Gains Since Housing Market Debacle

FNC Index Shows Biggest Home Price Gains Since Housing Market Debacle

According to a recent report by FNC, the news continues to improve for the housing market. FNC’s Residential Price Index (RPI) confirms both the continuation of the better than year-long housing price gains and that the price performance is beginning to moderate….

Read More November 21, 2013
5 Tips to Help You in the Home Buying Process

5 Tips to Help You in the Home Buying Process

One of the most important and valuable parts of the home buying process is the relationship between the buyer and the mortgage lender.  While the lender’s knowledge can make a huge difference, it is also important for the buyer to be as educated…

Read More November 14, 2013
New Mortgage Rules Going Into Effect in January

New Mortgage Rules Going Into Effect in January

In case you didn’t know, there are some new mortgage rules that will go into effect on January 1, 2014. These “new” mortgage rules, according to Tim Grant of the Pittsburgh Post-Gazette, are meant to avoid a repeat of the housing and…

Read More November 7, 2013
Why Now May Be a Great Time to Buy a Home

Why Now May Be a Great Time to Buy a Home

According to a recent article by Gina Ragusa, the combination of slowly rising mortgage rates, the prices of homes, and the easing mortgage requirements may be creating a perfect time for you to purchase that home you have been thinking about. Ragusa…

Read More October 30, 2013
Assessed Values Rise on Homes in Inland Area

Assessed Values Rise on Homes in Inland Area

A recent article by Debra Gruszecki of The Press Enterprise focused on some good news for Southern California homeowners showing property values on the rise. According to the 2013-14 California State Board of Equalization report, which is used to calculate property taxes,…

Read More October 24, 2013
Lingering Affects of the Government Shutdown

Lingering Affects of the Government Shutdown

Many involved in the real estate industry have no doubt been paying a lot of attention to the government shutdown and how it is affecting the mortgage business. In a recent article by Diana Olick of CNBC, she says that as negotiations to…

Read More October 17, 2013
More Information on How the Government Shutdown may Affect You

More Information on How the Government Shutdown may Affect You

On the heels of last week’s government shutdown, James R. Hood, Consumer Affairs founder and editor asks the question, “Does it really matter if the feds stay home?” The first week , the shutdown of the federal government, according to Hood, wasn’t…

Read More October 10, 2013
New Rules in FHA Short Sales

New Rules in FHA Short Sales

In a recent story from Inman News, there are new rules that took effect on October 1, 2013 that will now prohibit brokers and agents from representing both buyers and sellers in Federal Housing Administration (FHA) short sales. In July, the Department…

Read More October 4, 2013
How will Governement Shutdown Affect the Mortgage Industry?

How will Governement Shutdown Affect the Mortgage Industry?

The possibility of a government shutdown as of October 1, 2013 could definitely have ramifications in the mortgage industry. Terry Clemans, executive director of the National Consumer Reporting Association (NCRA) was recently quoted as saying, “With such a huge amount of mortgage…

Read More September 26, 2013
Finding a Home Using the New Schools Search Tool

Finding a Home Using the New Schools Search Tool

When purchasing a home, one of the most important factors a family with children considers is the quality of the elementary, middle, or high school the kids will be attending. According to a recent article in National Mortgage Professional Magazine, Zillow Inc….

Read More September 19, 2013
Housing Recovery and Rising Mortgage Rates

Housing Recovery and Rising Mortgage Rates

Many potential homebuyers and many people in the mortgage industry are wondering how the rising mortgage rates will affect the housing recovery. In a recent article by Dakin Campbell, he suggests that there isn’t a need to worry. Chief Financial Officer Tom Sloan of…

Read More September 12, 2013
Qualification Rules for Home Loans Relaxed by Regulators

Qualification Rules for Home Loans Relaxed by Regulators

According to a recent article in the Washington Post by Danielle Douglas, Federal regulators have “softened” a proposed rule that would require banks to keep a stake in home loans that they parcel out to investors, for fear that the policy would…

Read More September 5, 2013
FHA Back to Work – Extenuating Circumstances Program

FHA Back to Work – Extenuating Circumstances Program

The U.S. Department of Housing and Urban Development recently published Mortgagee Letter 2013-26 under the subject “Back to Work–Extenuating Circumstances” for all FHA-Approved Mortgages. This new ML explains that FHA is continuing its commitment to “fully” evaluate borrowers who have experienced periods…

Read More August 28, 2013
The Difference Between a Pre-Approval and a Pre-Qualification

The Difference Between a Pre-Approval and a Pre-Qualification

If you are in the market and serious about purchasing a home, one of the most important things you can do speak with a lender and get pre-approved. By doing this, it will definitely benefit all of the parties involved because it…

Read More August 21, 2013
Eminent Domain Controversy

Eminent Domain Controversy

An interesting controversy in the mortgage industry made headlines last week as the mayor of Richmond, California, Gayle McLaughlin, invoked eminent domain in an effort to save underwater homeowners from foreclosure. McLaughlin announced and immediately defended a plan to seize underwater mortgages…

Read More August 14, 2013
President Obama Explains Mortgage Reform

President Obama Explains Mortgage Reform

In Phoenix on Tuesday, President Barack Obama explained that the need for new efforts to support American homeowners, and he also suggested the closing of government-backed mortgage finance companies to limit the risk to “public money.” Phoenix was one of the worst…

Read More August 7, 2013
Don’t Forget About the Extra Costs of Owning a Home

Don’t Forget About the Extra Costs of Owning a Home

With mortgage rates still at a great percentage to purchase that dream home of yours, you still need to be prepared for the “true” cost of owning a home. These are specific items that you need to be aware of which will…

Read More July 31, 2013
Even with Mortgage Rates Rising, No Need to Panic

Even with Mortgage Rates Rising, No Need to Panic

Federal Reserve Chairman Ben Bernanke made comments this past week in which he hinted that the Fed may begin backing off its monthly, multibillion-dollar bond buying measure. And, according to a recent article by Casey Bond, this has a plethora of potential…

Read More July 24, 2013
Your Mortgage Options if You are Going Through a Divorce

Your Mortgage Options if You are Going Through a Divorce

Everyone knows that going through a divorce can be a very stressful and traumatic situation. One of the most difficult obstacles to deal with during this time is the home that you and your spouse bought while you were married. Most likely when…

Read More July 18, 2013
With Rates Rising, Does Buying or Refinancing Make Sense?

With Rates Rising, Does Buying or Refinancing Make Sense?

If you have been keeping up on the recent mortgage news, there is no doubt that you know mortgage rates are on the rise. This news is definitely concerning to possible homebuyers and homeowners who are thinking about refinancing. The big question…

Read More July 11, 2013
More Info on Getting Approved for that Home Loan

More Info on Getting Approved for that Home Loan

If you are seriously looking into purchasing a home, home ownership will likely mean getting approved for a home loan. Many would-be home buyers find this process quite stressful and confusing, so it is essential that you are prepared for what is…

Read More July 3, 2013
Increase in Interest Rates Will Impact Housing Market

Increase in Interest Rates Will Impact Housing Market

When it comes to interest rates, we are facing both good news and bad news. The bad news is that yes, rates have been volatile lately. They’ve been going up since May 3 – sometimes jumping as much as .25% in a…

Read More June 27, 2013
Owning a Home Still Better Than Renting

Owning a Home Still Better Than Renting

Many potential homebuyers often are faced with the dilemma of buying vs renting.  According to a recent article by Nick Timiraos of the Wall Street Journal, purchasing a home is still a better deal than renting in every major United States housing…

Read More June 20, 2013
6 Tips for Getting Your Offer Accepted

6 Tips for Getting Your Offer Accepted

Most of you probably know that the inventory levels of available housing across the nation are extremely low. And with this low inventory,  there is fierce competition brewing between homebuyers who are struggling to get their offers accepted. If you are in a…

Read More June 13, 2013
Benefits of VA Loans

Benefits of VA Loans

VA guaranteed home loans benefit Veterans because they do not need to make a down payment and there is no upper limit or required cap on the income of the borrower. Without a down payment as security against foreclosure, lenders receive what…

Read More June 5, 2013
3 Results of Low Mortgage Rates

3 Results of Low Mortgage Rates

It’s a well known fact that low mortgage rates are vital to the housing market as they make purchasing a home more affordable and also make refinancing more attractive for homeowners. But did you realize that low mortgage rates have many other…

Read More May 23, 2013
Mortgage Rules to Live By

Mortgage Rules to Live By

With mortgage rates still at incredible lows and the housing market continuing to pick up, many individuals are seriously considering a home purchase. If you find yourself in this position, it is good to remember that making the decision to buy will…

Read More May 16, 2013
Information for Homeowners Paying off Their Mortgage

Information for Homeowners Paying off Their Mortgage

With most of the talk in the mortgage business focusing on low interest rates and the increase in the housing market, some of you may be close to that wonderful day of actually paying off your mortgage. According to Jann Seal, here…

Read More May 10, 2013
Mortgage Trends for Spring

Mortgage Trends for Spring

For the past several years, homeowners have seen their houses losing value. However, this is definitely starting to change as low mortgage rates continue and home prices are gaining value. With this happening, an increase in the number of buyers is expected…

Read More May 2, 2013
New Information on Loans With Less Than 20% Down

New Information on Loans With Less Than 20% Down

There is more proof that the housing market is continuing to brighten as more home buyers are discovering that they can get conventional loans with less than a 20% down payment. According to a recent article in USA Today, the only way…

Read More April 18, 2013
Where are Those Mortgage Rates Going in 2013?

Where are Those Mortgage Rates Going in 2013?

Due to the housing market showing definite signs of rejuvenation, numerous experts agree that the coming spring homebuying season could be a busy one for both sellers and buyers. Most buyers and sellers are anxious to know where the mortgage rates are going…

Read More February 13, 2013
Mortgage Forgiveness Debt Relief Act Extension

Mortgage Forgiveness Debt Relief Act Extension

Underwater homeowners were given good news this week as Congress included an extension of the ‘Mortgage Forgiveness Debt Relief Act.’ This Act was scheduled to expire on December 31, 2012, but was extended in the American Taxpayer Relief Act until December 31,…

Read More January 16, 2013
Rising Equity for Homeowners in 2013

Rising Equity for Homeowners in 2013

As 2013 begins, one of the most encouraging facts in the mortgage business is that homeowner’s equity is growing! A homeowner’s equity is defined as the difference between the market value of the house and the amount of mortgage debt it is…

Read More January 9, 2013
Expansion of Government Refinance Program

Expansion of Government Refinance Program

According to several sources, the US government is seriously looking into expanding its mortgage refinancing program that would now include borrowers whose mortgages aren’t backed by the government and who are liable to pay more than what their home is worth. Such…

Read More January 3, 2013
Money Saving Tips for 2013

Money Saving Tips for 2013

As 2013 begins next week, many of you will be making those annual New Year’s resolutions. Typically, keeping true to these resolutions is very difficult, especially when it comes to your basic finances.  These “financial” resolutions, however, can definitely help you save…

Read More December 27, 2012
New Mortgage Database

New Mortgage Database

In a move to stay on top of the rapid changing world of technology, the Consumer Financial Protection Bureau (CFPB) and the Federal Housing Finance Agency (FHFA) have collectively agreed to produce a National Mortgage Database containing comprehensive mortgage loan information. “The…

Read More December 19, 2012
HARP Update

HARP Update

Since it began in 2009, more than 1.7 million households labeled “underwater” have made use of the government’s Home Affordable Refinance Program, also known as HARP, and this program is successfully stimulating the U.S. housing market. HARP was launched to give homeowners…

Read More December 12, 2012
Proposed Changes with FHA in 2013

Proposed Changes with FHA in 2013

The Federal Housing Administration is proposing some changes to its program rules that might impact or affect some loan applicants in 2013. These are designed improve revenue flows to the agency and cut back on losses.  Although none of these appear to…

Read More December 4, 2012
Housing Market Contiues to Go in Right Direction

Housing Market Contiues to Go in Right Direction

According to two reports this week, economists are saying the news is continuing to look upbeat in the world of real estate! The lowest mortgage rates in history have definitely helped keep sales of previously owned US homes close to a two-year high…

Read More November 29, 2012
Helping out the Homebuyer

Helping out the Homebuyer

As often as we work with new home buyers, we know that the process can be quite intimidating for them. Since buying a home and taking out a mortgage is probably the biggest financial decision buyers will make in their lives, it’s…

Read More November 14, 2012
What the Re-election Means to the Mortgage World

What the Re-election Means to the Mortgage World

It’s Official! President Barack Obama has been re-elected. Last week,  I wrote about what you might expect in the mortgage world depending on which candidate won the election. Now that the election has been decided, here is some more “news” on what…

Read More November 7, 2012
5 Reasons Why Now May Be a Once In a Lifetime Chance to Buy a Home

5 Reasons Why Now May Be a Once In a Lifetime Chance to Buy a Home

In almost every major U.S. housing market today, it has become cheaper to buy than rent.  While there is no guarantee that home prices will not continue to drop and clearly we have not yet escaped our economic downturn, there are a…

Read More September 20, 2012
FHA May Waive Waiting Period

FHA May Waive Waiting Period

 Waiting Period Waived? The FHA is contemplating new, looser mortgage guidelines that would waive its standard “waiting period” after a significant derogatory credit event. Home buyers with recent bankruptcy, foreclosure or short sale may be cleared to buy homes immediately. The Federal…

Read More September 12, 2012
End of Summer Likely to Produce a Flux of Short Sales

End of Summer Likely to Produce a Flux of Short Sales

Finance and housing specialists are anticipating the summer and fall months are likely to produce a flux of short sales. The multitude of short sales comes as more banks choose a portion of what they are owed rather than have a property go…

Read More August 15, 2012
Unintended Consequences

Unintended Consequences

Over the past several years we have seen the regulators scrambling to “fix” the US housing market with all sorts of plans and stimulus and new regulations. It all started in 2008 when then Fed chairman, Hank Paulson (former Goldman Sachs Chief),…

Read More February 15, 2012
Forget the Appraisal!  Lower Your Payment Now!

Forget the Appraisal! Lower Your Payment Now!

Our government has rolled out numerous programs to attempt to help home owners through the extremely difficult times we have seen in real estate over the past couple years.  The acronyms of these programs have, in many cases, have become the alphabet…

Read More October 26, 2011
A New Way To Think About Real Estate?

A New Way To Think About Real Estate?

Actually this wouldn’t be a new way to think about real estate, this would be going back a generation or two.  NOT EVERY REAL ESTATE TRANSACTION HAS TO BE A SHORT TERM INVESTMENT PLAY. One of the many things that went wrong…

Read More September 9, 2011
US Credit Rating Downgraded

US Credit Rating Downgraded

This is the headline we have all been reading this morning and from over the weekend.  My phone and email have been clogged this morning with many questions about what this will mean in the mortgage world. A big part of what…

Read More August 9, 2011
A Rant

A Rant

It took our government three years to figure out (or at least publish) what the rest of us figured out two to three years ago.  The housing crisis we have been in for years now would never have been possible without the…

Read More April 15, 2011
Temecula, Murrieta, San Diego Mortgage Brokers

Temecula, Murrieta, San Diego Mortgage Brokers

Mortgage brokers have been the punching bag for the mortgage business for much of the past several years.  Some brokers created bad blood back in the subprime days of the early and mid-2000’s.  These risky loans were originated almost exclusively through brokers…

Read More March 4, 2011
Temecula, Murrieta, and San Diego Mortgage Loans:  Banks are Still Lending!

Temecula, Murrieta, and San Diego Mortgage Loans: Banks are Still Lending!

You see it almost every day in the financial news, articles talking about how banks aren’t lending money.  While this is largely true, it absolutely does NOT mean mortgage lending isn’t happening. Since 2008 banks have been on lock down with lending…

Read More March 4, 2011
Looking Forward in 2011

Looking Forward in 2011

A new year is upon us, the start of the second decade of the “new” millennium.  That’s hard to believe. 2011 starts with many questions that will only be answered as the days pass.  Questions such as:  Is the economy getting back…

Read More January 2, 2011

Franklin Loan Center | NMLS 237653
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, 4131316
http://www.nmlsconsumeraccess.org/entitydetails.aspx/COMPANY/237653
For questions or concerns please email info@franklinlc.com