Federal Reserve Rate cuts: How Will It Impact You and Your Money?

Yesterday, December 14, 2004….uuuhhh…wait…I meant yesterday March 18, 2008 the Federal Reserve lowered the Fed funds rate down 75 basis points to 2.25 percent. The reason why I mentioned December was because the last time the fed funds rate was this low was back in 2004 as you can see in the Federal Reserve Board: Monetary Policy, Open Market Operations chart.

I know you probably have read all the gloomy news in the newspapers, TV stations or perhaps you may have received calls from many mortgage brokers telling you that these great news will benefit you if you refinance now, but who is right and who is wrong?

Making the News

The truth of the matter is, Read more

March 19th, 2008 · Filed Under Credit Information, Mortgage - Loan Information

3 Comments 

New FHA and Conforming Loan Limits for California Released by HUD

Almost 1 month after the H.R. 5140 Economic Stimulus Package was signed by President Bush; the Office of Federal Housing Enterprise Oversight (OFHEO) released today the maximum temporary conforming loan limits.

The new FHA loan limits as well as Fannie/Freddie Government Sponsored Enterprise (GSE) loan limit will apply to loans originated between July 1, 2007 and December 31, 2008 for one, two, three and four unit homes as determined by the U.S. Department of Housing and Urban Development.

These great news will offer some hope to struggling homeowners in California, specially in Read more

March 6th, 2008 · Filed Under Mortgage - Loan Information

5 Comments 

Opportunity for Buyers in a Slow Real Estate Market

Today’s real estate market could be seen as really gloomy. A market with an ever increasing number of unhappy sellers, unsold homes, short sales failing to sell because of a lender’s inexperience or lack of market knowledge, foreclosed homes at auctions not receiving any bids and being turned back to the lender and into the market again as REO properties. These are today’s mainstream news! These are the news you see on a day to day basis.

Sex and blood always sells and a bloody real estate market is no exception. However, consumers should really focus on understanding what this news really means to them. Read more

March 5th, 2008 · Filed Under Real Estate Information

1 Comment 

Predatory / Subprime Advertisement #1

We have our first submission for the series on “Predatory / Subprime Advertisement”.
The advertisement has been modified so that it won’t show names or phone numbers.

Although the anonymous person that submitted this real estate ad from San Jose thought that this was a predatory advertisement, I don’t necessarily think that it is. However, I do think the way the ad is worded it could be a liability for the agent and a miss interpretation that a real estate agent can provide legal counseling to a client.

On the first sentence, the ad states Read more

March 3rd, 2008 · Filed Under Predatory - Subprime Advertisement

1 Comment