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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No closing Cost Loans, Refinance. Orange County, CA. Fred Solomon's mortgage ...
Interest rates are down at least one full percentage point just in the last week. If you are on an adjustable and you are lucky enough to still ...
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
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.
Is there an institution in California that will finance/refinance an irrevocable trust at a reasonable rate?
2 trust properties are involved, one owner occupied, the other a rental asset. In May, with a commitment letter from WaMu for a 30 year fixed rate 5.625% and papers ready to be signed, bank withdrew offer and stopped all of these loans system wide.
A trust is a legal entity, NOT a loan. There is NO SUCH thing as an owner occupied trust property. No person owns the trust. It 'owns' itself. The FIRST thing you need to do is take ALL your paperwork to a trust attorney to find out if a trust actually exists. Putting the work trust on the paperwork has NO legal effect.
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.
How long do you have to own your house before you can refinance at a lower rate?
I bought my house in July 2008 in San Bernardino County in California with a rate of 6.25%. I heard rates are dropping into the 4% area. How long do you need to own a home before you can refinance for a lower rate? I have an FHA loan and a neighbor told me that if I call FHA they can simply just switch the rate for me, but that definitely doesn't sound right.
It depends on what your mortgage states. I also have an FHA loan. It states that I cannot refi or sell for 9 years unless I repay the $5000 they gave me for closing costs. Read through your loan info and see what you can find out. It may be easier to just call your loan officer. They should be able to help you out.
Am Wendy Roux, am from England recently when I was searching for a loan so I post and ad in yahoo answer here just two weeks ago I was referred to Susfasa Loan Firm by Kelly Cole from Canada, when I offer a loan of (20.000 pounds) few day ago how after when I submitted my application to the Firm, by this God fearing man his name is Mr.Susfasa Lee so when I was your profile in your yahoo answer I decide to referred you directly to this kindly man of God please if you are in seriously in need of loan you can contact them via E-mail:susfasaloanfirm@yahoo.com or susfasaloanfirm@live.co.uk tell him that Wendy Roux from England referred you to him
Thanks and stay bless from Wendy Roux.
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
Want to refinance a 2005 vehicle (in California). What's a good interest rate?
Nothing's wrong with the car, "Life" just got busy when we purchased and we could not afford the time to "shop."
Now, I realize it is/was a 5-year loan at 8.5% and am looking into the refinancing.
First, for a use car, you might not get a better interest rate. Second, you will likely have to pay a refinancing charge. You might be better off trying to pay this off early.
I don't qualify for a refinance, my rate is adjusting up. Can anybody help me? or should i just foreclose?
My home is in california and I am currently upside down on it. The rate on my 1st mortgage is due to adjust soon. I don't qualify for a refinance because i've been late a few times. Should i just stop making payments on the home? My rate is adjusting to around 9% next month. If the home was a little more affordable I could manage but this is currently not the case. Are there any option other than refinancing? Please help.
The single most important way to determine whether you have been the victim of Predatory Lending, Truth In Lending Violations, RESPA, or mortgage fraud or deception is through the use of a Forensic Loan Audit. To effectively perform a compliance audit, you must be part detective and part mind-reader. A single residential real estate file can be covered by numerous consumer protection laws and regulations - Reg. B (ECOA), Reg. C (HMDA), Reg. Z (TILA), Fair Housing Act, and Flood Disaster Protection Act for starters. The applicability of any law depends on various factors that may, or may not, be evident in the loan file.
Get in touch with a calfornia real estate attorney that specializes in loan modification and litigation. Have a loan auditor analyze your last refinancing and see if any violations were made in your last refinance or purchase transaction. (90% of the time something was done illegally)
I can help you if you'd like. Shoot me an e-mail or give me a call. We review your loan documents (the papers you signed when you applied for the loan and the papers you signed when you closed the loan). We investigate whether the information and calculations provided in those documents was accurate, truthful, and met the requirements of the applicable federal and state statutes.
BEWARE! alot of people are jumping or have got into the business of loan modification to make a quick buck that are not licensed attorneys with the state. Most of them are the ones that put you in the situation you are in to begin with! Make sure you are speaking with a qualified firm that will look out for your best interests. Take it from me, DO NOT go for the cheapest deal. Your home and the foreclosure process is a serious matter.
Typical violations I have found in loan auditing include the following: RESPA VIOLATIONS, TIL ACT INCORRECTIONS, FORGERY, MISLEADING DISCLOSURES, EXCESSIVE OR INACCURATE ADJUSTMENTS, OVER STATED VALUES, GFE COMPLIANCE, EXCESSIVE POINTS AND FEE'S, USUARY VIOLATIONS, REVERSE ENGINEERING, PREDATORY LENDING.
We determine whether there were predatory lending violations of federal law which give rise to the right to rescind or cancel. If you are successful in rescinding the loan, you may be entitled to receive back all of the interest paid on the loan, all of the points and fees paid to get the loan, all fees paid by you to the lender in connection with the loan, and statutory penalties. This allows you to get a new loan with a smaller principle, meaning that your mortgage can be affordable.
TIME IS OF THE ESSANCE. GET HELP SOON.
Call me today: 310-736-6054
Leave a message if i don't pick up. Thank You.
Can i cancel a car refinance loan i made three days ago through Wells Fargo in California?
I refinanced my car loan through wells fargo and i don't like the interest rate that they gave me so i want to cancel the loan, want to keep my original loan. I have already tried to call my original loan company and tell them to return the check, but they say there is nothing they can do. I tried to get Wells Fargo to stop payment on the check but they said i had to go to the branch. Are there any other things i can do? Maybe write a letter or something?
No you can't. But you might be able to refinance again.
Is it possible to refinance 1st & 2nd mortgages for a brand new house immediately after I close?
I am required to use my builder's mortgage company b/c they are giving me incentives but the rates are 0.5% higher than other lendes on both the 1st and 2nd mortgages.
I am wondering if I would be able to refinance both mortgages immediately after I close? What do I need to consider? What questions do I need to ask?
Sale Price: $960k
New House in California
Interest Rates for 1st/2nd mortgages: 6.75%/8.675%
Excellent FICO scores - high 700s to low 800s
6.75% is average for 30 years fix loan.
8.675 is high of course, but you don't have down payment, lender wants high rates to compensate.
It is hard to find another lender to give you better rate.
I would stay away from adjustable loans or interests-only, because housing market continues to slump. Adjustable loan is "toxic", which means if rates go up while housing price stays, you will in bad spot.
As for interests-only, mortgage payment consists of two parts: interests and principal. Interests are like rent, which doesn't add to the equity to your house. It simply disappear as your pay it. If you want to use interests only loans, might as well rent, especially during market downturn, because housing price won't appreciate.
Would you consider delaying your plan? As housing market continues to slump, it might save you 10% simply by waiting for a few months. Another way to look at it, you can increase profit by 10% when you are ready to sell it.
http://money.cnn.com/2006/09/08/real_estate/caught_in_the_bubble/index.htm?postversion=2006090814
http://money.cnn.com/2006/09/05/real_estate/Ofheo_home_prices/index.htm?postversion=2006090514
If you want to go ahead with your plan, threaten to back out, they probably will give you incentives without asking you to use their lender.
Good luck!
Would you consider dela
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