Community Bank of the Bay Refinance Mortgage Rates – Fixed 30 Year Home Loans ... Subprime Blogger (blog)
At the present time the FDIC insures over 250 financial institutions with headquarters in the state of California. This does not include all of the financial institutions with headquarters elsewhere that have branches within the state. With this in mind it may be a very wise decision to get several interest-rate quotes before deciding on a specific lender.As we get closer to the fall of 2011 will be very interesting to see what happens with the 10 year treasury rate yield. Many feel as if the 10 year yield will bottom in the near future which will likely be a precursor to the very bottom for mortgage rates as well. Since 1971 the 10 year treasury rate yield at a 30 year fixed mortgage have had a very strong correlation.
When going into the refinance process it is always a wise choice to make certain that extra money is available to cover closing costs. If individuals do not have any extra money that it may be a wise choice to consider saving up a little bit of extra cash before making this major financial decision .
Home Loan Refinance Rate | California Home Loan Refinance Rate
With the help of California, home loan refinancing rate it has turn simpler to hunting and find out the refinancing rate rampant in California that is good is to person, that might make a great disparity in saving allowance and providing the residence that the family needs. Moreover it might lend cash that may be used to do anything a instruct to. There are many sites that will take data from the .. more …
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Is this a good time to refinance my california home?
You should refinance your home only if it benefit you. By that I mean if you want to consolidate your credit cards, and other consumer debts thus lowering your monthly payment out put and taking advantage of tax benefits, Lower your interest rate thus lowering your monthly payments, you have a child entering college and no college fund, invest in another property or stocks that will bring you an excellent dividend or return.
Those are the reasons I would refinance my property located in California or any other place as far as that is concerned.
I hope this has been of some use to you, good luck.
"FIGHT ON"
Foreclosing a refinanced home in California?
What are the steps towards foreclosing a home that we refinanced back in 2006 in California? Will there be any specific penalties and steps to take because it was refinanced years before?
It is different from state to state. I believe California is non-judiciary so it does not take much to foreclose.
As far as a penalty because you refinance I have never heard of anything like that. Refinancing is the main reason most people are in foreclosure.
Your best bet is to find someone that specializes in negotiating with your bank and delaying the process.
This way you can stay in your home longer and you will have someone on your side trying to defend your interest.
If they bank forecloses on your house you will be responsible for the difference between what you owe and how much they sell it for plus closing cost plus lawyer fees plus, plus, plus. This is called a deficiency judgement.
Although you might not get anything from the bank for a year or two eventually they will know exactly how much money they lost, down to the penny, and then they will want it back.
If you are able to do a short sale or deed in lieu of foreclosure you are able to negotiate all of that in the process and get them to waive the deficiency judgement. They will then issue a 1099 because although the money was lost it was still money they gave you and you will have to report that to the IRS. There is a new law however that states if it was your primary residence then the 1099 will not apply.
You can also negotiate that they bank waive the 1099.
All in all the best thing to do is find someone that specializes in the whole process. Almost always it is impossible for you, the client to negotiate the short sale. The bank may let you negotiate a deed in lieu but be careful because they are still going to try and get a deficiency judgement from you.
Good Luck.
Housing experts say that change is the direct result of a new state law that forces lenders to make repeated attempts to contact a homeowner before foreclosing on the home.
The website below may provide some insight for you.
http://www.refinancing101.net
Good Luck......!
Which company is the best home mortgage lender to refinance with in california?
I am interested in refinancing my current loan to a fixed rate 30-yr loan. I'd prefer to deal with a lender that is in california. any recommendations? i'd like to hear about your personal experience with the company recommended. thanks!
It all depends on your credit score, type of property, length of loan, etc. You just have to shop them to find the best deal.
We have used a mortgage broker in the past. They run your information through a number of lenders and come back with the best deals they can find.
Some will say that brokers make money off your loan. I understand that they do, I still compare the programs to find the best for me. I don;t care what they make as long as it is a good deal to me.
I am a Mortgage banker in TN & KY
My refinance was ultimately done through a local broker here in Southern California. I used a great website to find the broker. The website that I used will eliminate the fees involved in doing a refinance. It's a pretty cool concept. Hope this helps.
Can I refinance my manufactured home? I reside in the state of California in Los Angeles county.?
I've been told that it is hard to find places that will refinance this type of structures. When I got this Home, I was told that since my credit was not that great, I could get it at 9.5% fixed. This was back in 2001 Ever since I been trying to find to find a place to refinance to a lower percentage and now seems like a good time to do that. I would really appreciate any help. Specially from the Professional side.
What year was the home built?
You CAN refinance through an FHA loan if you can document your income. Can do up to 95% cashout or 97% rate and term refinance. Hopefully your credit is at least a 500 or preferably 580 mid score.
Interest rates on FHA refinances right now are around 5.875%-6.5%
Should I wait until next year to refinance my mortgage? I am buying a single family home in California?
I am skeptical of refinancing this year since the rates are up from last year. I am hopiing the rates will go down instead of up next year. Should I wait?
depends on what kind of a mortgage you got. If its an ARM GET OUT OF IT NOW! The rates are slowly dropping and many expect a nice drop next year also check to see if there are any penalties for refi and some will even make you pay for an apprasial before hand (don't do it)
Let me offer you some advice as a loan officer based in California: the market here is definitely cooling off, but that doesn't mean that it's necessarily a bad time to buy. If you're able to negotiate well with a seller (and this may be the perfect time for that) you could get a good deal. Remember that it's you that has the upper hand in the current market.
Rates are a tricky situation. There has been a bit of a dip of late, and I've been doing many loans for people in the area because of this fact. However, I don't personally see the point in "waiting for rates to drop" as much as most people. If you have good credit you can get a rate below 7% these days. Historically that's a spectacular rate. Unfortunately we're all tainted by our recent memories of folks getting 4%.
It's honestly never been a "bad time" to own a house if you plan to stay a minimum of 5 to 7 years. If you have any questions that I didn't answer, send me an email through my profile.
Beyond that it's a gamble. If you can tolerate the risk you might do well to wait until late Winter/early Spring to refi. At this point in time, I would not recommend waiting beyond early 2007. If the break even analysis shows that you will recover your costs in 2-3 years then do it now or early in the first quarter of 2007.
Here is a link to a daily rate lock advisory posted by a mortgage broker that I have used twice in the past.
http://www.interbankmortgage.com/DailyRateLockAdvisory
I have no financial connection to him, and only provide the link because it is useful information and I was happy with his service.
As it was said before, waiting for rates to drop is really not the way to go.... you never know what might happen that could send the rates through the roof and you will look back on this time and think to yourself, "I should have refinanced then!".
If you have any other questions, or need assistance, please contact me via my website http://www.slarson.com/contact or email me directly at Steve@SLarson.com
Funding for log-style construction vacation home, refinance?
I am a mortgage broker searching for a funding source to refinance a 2nd home in northern California. LTV will be under 75%, credit scores over 700 and full doc. Property is the question, exterior is log cabin style and rock facia. Interior is finished drywall with log style beams in roof and rafters. Loan amount will need to ba jumbo - $550,000. Does not qualify as conforming jumbo. Any thoughts?
brokeroutpost.com- ask in general area all your answers will be givin in seconds.
scottsmanguide.com - get a subscription
stay away from hard money lenders or broker out deals. deal seems simple and easy to close.
http://www.orbitbusinessloans.com/
http://www.orbitmerchantsolutions.com/
Which bank offers the lowest interest rate for mortgage refinance in California?
I need to refinance my second/investment home in Milpitas California and I'm looking for a mortgage broker or a bank that offers lowest interest rate based on 700 or more fico score. Preferably a loan program with minimum monthly payment is preferred.
find the best rate you can find and then add 1% (1 point is what is the standard to add when dealing with an investment home)
A mortgage broker is supposed to find you the best rate from all the companies she works with. If you don't have a good one shop around.
Here is a website to find the average and best rates:
http://www.bankrate.com/brm/default.asp
Where can I find a wholesale lender to refinance a mobile home?
This is in Southern California. I need to broker out a mobile home refinance for someone. Please help and maybe we can make a few extra bucks. Thank you.
I would try JCF Acceptance, I know they have a wholesale division. I just got a loan from their retail division and got a great rate 6.74%. Much less than other lenders that I got quotes from. You can reach them at (800) 745-0607. Their website is www.jcfinc.com.
The only lend on mobile homes in parks, leased land, or when the mobile home and the land are not tied together by way of deed.
Good Luck,
Peter
Is there any way to get help on a home in California that has been destroyed and left to rot by a contractor?
I live in Michigan and my fiance in California. He made a deal with contractor to add on to his home and he would refinance and give the back property to him for the work. It has been over a year and it is now like living in a fort and unprotected by the elements. August 2006 inspectors came in and shut down the work due to not having permits. I
s there any one that can help us finish this home so that my kids and I may move to California. When the home is finished we can refinance and pay off the debt. We are desperate at this time and he has everythin he owns in this property....Please help us!!!
I am not sure exactly what you are asking. Are you looking to hire a contractor? I am NOT a contractor, but I hire them all of the time to build new property for me or to remodel existing property in CA. Email me your location and I will give you a referance if I have one. I will also show you how to check out a contractor before you hire them.
dutchshepherds@yahoo.com
can I refinance my international home loan in US?
I am a resident of california. I have a home loan in India with an Indian bank. I want to refinance that loan with an US bank so that I pay in dollars and manage loan in US since all my income is from US and I live here. Do you know if there is any bank/credit union that can provide this service?
you can but ask
i doubt it. no US bank will know anything about the proper procedures in India relating to mortgages.
as best I understand the laws of both India and the US, there is no bank that does business in both countries -- not even a foreign to both countries bank.