Do Not Call Registry Reminder

Hope you had a wonderful Super Bowl weekend! I know I enjoyed most of the commercials. In this week’s update I’d like you to educate yourself on a new practice the medical industry is trying to implement called a MedFICO. This is interesting information and can be found in this newsletter. Stay tuned with more information regarding the upcoming conforming loan limit increase from $417,000 up to $625,000.

Do Not Call Registry Reminder (I just did it myself and took 30 seconds)
REMINDER…12 days from today, all cell phone numbers are being released to telemarketing companies and you will start to receive sales calls.
YOU WILL BE CHARGED FOR THESE CALLS!

To prevent this, call the following number from your cell
Phone: 888-382-1222.

It is the National DO NOT CALL registry list. It will only take a minute of your time. It blocks your number for five (5) years. You must call from the cell phone number you want to have blocked. You cannot call from a different phone number.

HELP OTHERS BY PASSING THIS ON TO ALL YOUR FRIENDS. It takes about 20 seconds

Oh by the way, I’m never too busy for any of your purchase or refinance mortgage referrals!

Make it a great week!


News of the Fed Fund cut

This week has been more proof of the volatility of the market. Rates dipped earlier in the week and then bounced up with the news of the Fed Fund cut. However, they are only slightly higher than last week yet will continue to trend downward.

Many of you are getting information regarding declining market loan-to-values. I am continuing to do research on the policy changes and here’s the latest. If you are a borrower putting down 20% on a full documentation purchase and the maximum loan-to-value for the program is 95% you do not have to reduce the loan to value for the borrower by 5% it remains a 20% down payment. If you have any questions about current or future deals please contact me.

SOME INVESTORS HAVE NO DECLINING MARKET POLICY. It just depends on the bank and the borrower’s profile.

There is news that the conforming loan amount currently set at $417,000 will be temporarily increased to $750,000. See the article by clicking below.
http://www.latimes.com/business/la-fi-jumbo25jan25,1,2691497.story?ctrack=2&cset=true

Looking for Canadian financing? I’ve got the programs to get your home purchased fast.
I’m never too busy for any of your refinancing or purchase referrals! If you are interested in refinancing a loan now may be the time. Have a great weekend!

Working for a Living

This week we are still looking at the jobs report and its effects on the stock market. It has caused some concern that the Labor Department could still revise the report lower. Mortgage bonds are still at a two year low.

Economists are still looking at a possible rate cut in coming meetings to help the slowing economy; however, with inflation raising it is unlikely future cuts will happen.

There are tips in today’s update for you to review regarding who is taking the losses in the market and what you can do to protect yourself with home loan rates and great advice regarding your credit cards. I hope this information helps you with your financial planning.

If you are a home owner and have an adjustable rate mortgage, 30 year fixed, or pay option ARM, and are looking to lock in a low rate give me a call and ask me about a NO POINTS AND NO FEES REFINANCE. It’s a great time to get locked in. Looking forward to hearing from you!