New American Funding Featured on Ken Michaels' Mortgage Makeovers Online PR News (press release)
On the show Michaels, voted Top Mortgage Expert in the US for two years, will explain the urgency in taking advantage of the drop in mortgage rates that occurred this past week. With rates at record lows, he believes this is an opportunity for his listeners.
More importantly however, Michaels, as always, stresses the importance of working with mortgage companies that are trustworthy direct lenders. He uses New American Funding as the prime example highlighting the mortgage company 's competitive advantages including their 21 day close guarantee, competitive rates and vast array of home loan product options. Michaels boasts about the mortgage company saying "they're amazing, they have the best interest rates I've ever seen."
The radio show Mortgage Makeovers was launched in 1991 and is heard on several nationwide radio stations. Ken Michaels' goal for the show is to inform and educate the general public on the mortgage industry and related topics including home loans , credit problems, real estate, mortgage companies, debt consolidation etc. As the host, Michaels encourages listeners to call in with questions which he will answer based on facts, opinion and experience.
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California current mortgage refinance rate and hard money
www.lendinguniverse.com California current mortgage refinance rate and hard money, what are current mortgage interest rates and compare refinance ...
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
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.
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
Where can I find good Mortgage Leads for homeowners in california who are looking to refinance??
Also Are thet going to be cost effective? I would also like to work with folks who work with direct lenders.
county courthouse. and it's free.
I work with a nationwide mortgage lender and we have an abundance of them..
email me for more information...
The price is like $2.00 or $3.00 a lead, which compared too phone tranfers and internet leads..is a real bargain .
I think you can choose credit score, credit card debt, min mortgage balance and other stuff too...I don't remember everything.
- gary
How can I obtain statistics regarding #'s of refinances in California and other mortgage related stats in CA?
I am looking for a website or some other avenue for retrieving statistical information regarding the number of home loans set to adjust in California in 2008, Number of loan origination is California in 2007, Number of purchases in CA in 2007, etc... If anyone knows of an easy way to find this info please let me know. THANKS!!!!!
I am pretty sure that realtytrac has all of that information. They have a great stats section and that is who you see when they report the foreclosures on the news.
Refinance a non-recourse loan in california?
Is it true that in california, if I refinance a non-recourse loan (origional first and second mortgages I obtained to purchase a house I currently live in), the loan stays as a non-recourse loan, if I only refinance the balance of the loan, without taking cash out, or adding more things (like car payments) on the loan? Refinanced loan will combine the first and second mortgage into one. What about the closing cost, title insurance, escrow, etc, that will be added on the refinanced loan, does that effect the loan to change from a non-recourse loan to a recourse loan, since more things are added to the orignal loan balance from the first and second mortgage? Will refinance paper work state that it's a non-recourse, or a recourse loan? If it doesn't spell out on the paperwork, how can I be sure that it stays as a non-recourse loan?
Advanced thank you for any answer provided! :)
A non-recourse loan is one where the lender is counting on the collaterall to be worth the loan amount. Correct? So if you refinance both loans, to a different loan program, the non-recourse loan is paid off by the refinance. Simply tell the lender you plan to refinance with that the loan CAN NOT be a non-recourse loan.
http://www.surebill.co.uk
thats who i used last time thay got me a relly good deal
You need to call Frank immediately at 661-635-4900 or 919-802-3119 or 866-728-8587. He can get you financed with his network of over 400 lenders (up to 100%) even with bad credit. He has helped me with 4 properties and it has saved me thousands per month. He also helped me with foreclosures and made me a ton of money. He is an expert in this area.
Am I protected under the anti-deficiency statute law in California if i defaulted on my mortgage?
I'm one of those unfortunate homeowner who purchased a home during the boom and also got one of those adjustable mortgage. I've been paying my mortgage on time and am not behind on my payment whatsoever. But my payment will start adjusting in a few months and the value of the house has taken a dip and I was told if I want to refinance my current mortgage, I would need to come up with the differences in order for my bank to refi. So my question is this, if I'm not able to come up with the money does that mean I cannot refinance? Am I shit outta luck? I've been responsible for my debt and I got screwed over my loan because my former loan officer did not disclosed those critical terms and loan details. On the closing day at the escrow office, my former loan officer wasn't even there at the signing. She told me just show up and sign the documents and I was naïve and I did it. Do I have a case against this loan officer if I plan to sue her? The bottom line is, if I stop making payments and eventually foreclose the house, does the bank has the right to come after me for the differences that didn't satisfy the loan because of the anti-deficiency statute in California? Am I protected under that law? The house is my primary residence and it has never been refinanced. My current loan is an 80/20 piggy back loan, with a 2yr fixed/adjust every 6 months. I'm just worry that the bank will come after me for the differences if I do foreclose on the loan. Any suggestions? Ideas? Alternatives? Is there any way I can avoid foreclosure? Any government agency I can turn to for help? I'm very stressed out so please advice! Thank you!
Hi, I am a broker in California in Southern California and I help people in foreclosure. Like the broker above me, I want to state: I am not an attorney and you should consult with a real estate attorney for legal advice.
Anyway, we are a trust deed state and therefore they cannot get a defieciency judgement from you. If you foreclose, they might 1099 you for their loss. So it shows up as income on your taxes and you will need to pay taxes on that next year.
Your best option is to try to refinance if possible. Even though your home took a hit, you still might be able to refi without putting cash out of pocket. After that, I would suggest a short sale instead of letting it go into foreclosure.
In regards to sueing anyone, I have lawyers who look to see if your lender violated Regulation Z or the Truth In Lending Act. If they did, they can sue your lender and might get you compensated as well while delaying the foreclosure.
I personally don't meet my clients at signing as well, but I make sure I go over all the disclosures and loan programs before they sign anything.
If you're in SoCal, let me know and I'll see what I can do for you.
Regards
Start by looking for consumer advocacy groups in your area, as they either have some one to help you develop a strategy to deal with the lender or can refer you to someone who can. I am sure there are specialist available from such a source.
Quickly devise a plan with the specialist from the consumer group or an attorney and eventually call your lender, they might be willing to work with you. They probably have a whole department of people to deal with a situation like yours. Unfortunately, you are not alone. Before you call, have a plan for what you can do. Be ready when they ask that question. Don't wait until you can't make the payment, call while you're still in good standing.
They don't want your house, if they can help it. They're in the money lending business, not the real estate business. Typically they lose $$ significantly when they foreclose.
On taking legal action, seek out an attorney for a free consultation. Also the loan officer is licensed by the California Department of Real Estate and you can file a complaint. They have an office in Los Angeles and Sacramento.
By the way, it may take a couple of years, but the value of your home will come back and eventually soar. I have studied California real estate values going back 30 years and it always comes back. So if you can find a way to hang in there, you'll not only salvage your hard earned credit rating but come out ahead.
Sorry for your mess and stress.
Is there a temporary relief loan program for California homeowners who have a tough time paying the mortgage?
I heard about the new loan programs that allow home owners to refinance their mortgage to a lower interest, but those who qualify need a decent credit, certain income, and their homes need more equity than what they borrow. But what about those who are really suffering and have none of those above?
Unfortunately then you will join the ranks of those that have or are losing their homes. No credit, no income and no equity means pay for what you signed for. Sorry but not my fault you overextended yourself, buying way more than you could afford. Do not think my tax dollars should bail you out because of your foolish dreams, and not living in reality.
In the state of California, does a mortgage broker have to have a license?
I am just curious...
Do they have to have any special licenses?
I checked my TRW and have found that the mortgage company is not reporting my no late payments and I am not able to refinance due to lack of records.
What is the law?
Thank you Dion...
Yes. To act in the capacity as a broker, you must be licensed by the Department of Real Estate, the Department of Corporations, or you must be an attorney with a license by the California Bar. Additionally, banks, savings and loans, thrifts, credit unions and etc all may broker loans to each other as long as they are either chartered federally or by the state. For information on a broker, you can check their name or license by going to the following sites below.
What is the most current interest rate to refinance my house in California?
I have a mortgage rate of 6.85%. should I refinance now or will interest rates go down more after the president signs the new bill to help mortgage companies?
To give you a definitive answer would require more information about what type of loan you have now (fixed or adjustable), how much your home is worth, how much you still owe, etc. Suffice it to say, if that 6.85% is for a fixed, 30 year, it will probably not be worth refinancing now or in the near future.