New Conforming Loan Limit and FHA Loan Limit Could help Californias

With the housing market already receiving a little help from the federal funds rate cut made during the inter-meeting a few days ago and another possible rate cut coming up; buyers and homeowners will possibly feel more willing to take the plunge and buy or refinance due to the Economic Stimulus Package of 2008.

 2/14/08 Update: H.R. 5140 Economic Stimulus Package signed by Presiden Bush raises Conforming Loan limit 

3/06/08 Update: New FHA & Conforming Loan Limit for California released by HUD 

Yesterday the House of Representatives signed off on Read more

January 25th, 2008 · Filed Under Keeping an Eye on the Market, Mortgage - Loan Information

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Blowing the Whistle on Predatory Lending Advertisement

I have been pondering on this idea for awhile. One of the reasons that push me into putting this idea into action was the fact that we might see a short refinancing boom in 2008 due to the conforming loan limits being raised when the President Bush signs it in the middle of February.

Ever since I became involved in real estate years ago I began to realize how many unscrupulous people in the real estate and lending industry could easily misguide, victimize minorities, specially the Latino community, and Read more

January 24th, 2008 · Filed Under Predatory - Subprime Advertisement

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Elderly Fraud Victims Confront Fraudulent Mortgage Broker in Court

Scam artists are the best salesmen in the world. Their first objective is to enter your life, befriend you and gain your trust. Some go as far as meeting you in churches, as I may mention it in a future post, and gain so much of your friendship and trust that you almost begin to think of them as family members.

Case in point the latest victims of yet another real estate and mortgage scam in San Jose and the Bay Area. This time ran by a mortgage broker by the name of Read more

January 23rd, 2008 · Filed Under Real Estate & Mortgage FRAUD

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Interest Rates may Drop Lower

The Federal Reserve, in an effort to avoid a recession, surprisingly made an inter-meeting rate cut to the federal funds rate. This latest rate cut left the federal funds rate at 3.5 percent.

The next meeting, on January 29-30, is their formal meeting and it is expected Read more

January 22nd, 2008 · Filed Under Keeping an Eye on the Market, Mortgage - Loan Information

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Were You a Victim of Real Estate or Mortgage Fraud?

Most people buying a home or refinancing put their trust on their mortgage broker or real estate agent but in many occasions this trust is abused by these same so called “professionals”.

I have encountered many cases where a real estate agent and a mortgage broker teamed up to literally rob money from the homeowners like the many publicized alleged cases. Cases like the one involving Bic Pho and Felipe Neri both from Century 21 Su Casa (now bankrupt but the owner and affiliates are still operating with different companies’ names) and the cases of Linda Tran and Norma Valdovinos from a different Century 21 office and other cases which Read more

January 11th, 2008 · Filed Under Real Estate & Mortgage FRAUD

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I will Personally call You when Interest Rates Go Down!….Say What??

Recently a couple that had been dealing with another mortgage broker for a refinance in San Jose, contacted me because they did not feel very comfortable with him. The reason of their discomfort was the way the mortgage broker was pressuring them to obtain a loan he assured them would be the best choice.

I turns out this mortgage broker was pressuring the homeowners to refinance their home into an Option ARM loan also known as the Negative Amortization loan. He vaguely offered them Read more

January 2nd, 2008 · Filed Under Mortgage - Loan Information, Real Estate & Mortgage FRAUD

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