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Checking Pingbacks December 26, 2011

Posted by Jay Medina in Informative Articles and Free Reports.
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Just checking pingbacks to Christin’s Blog.

Some Friday Humor May 4, 2007

Posted by Jay Medina in Humorous Notes.
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Securing A Building 

One reason the Military Services have trouble operating jointly is that they don’t speak the same language.

For example, if you told Navy personnel to “secure a building,” they would turn off the lights and lock the doors.

The Army would occupy the building so no one could enter.

Marines would assault the building, capture it, and defend it with suppressive fire and close combat.

The Air Force, on the other hand, would take out a three-year lease with an option to buy.

New Consumer Hotline For Refinances April 29, 2007

Posted by Jay Medina in Informative Articles and Free Reports.
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A new consumer hotline for refinance options has just opened.  It is designed to help homeowners who are looking to take cash out of their home to do home improvements, consolidate debt, or have cash on hand for emergencies. 

It also has very useful information on how homeowners with adjustable rate mortgages can refinance into a fixed rate mortgage, and save money while doing it.

The consumer hotline is available at (641) 985-5700.  Enter the access code of 297206.  The hotline contains a lot of useful inside information and is available nationwide.  Long distance charges may apply.

A Computer Mystery Is Solved April 27, 2007

Posted by Jay Medina in Humorous Notes.
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How does the small arrow in the screen of the computer work when we move the mouse?    Haven’t you ever wondered how it works? Now, through the miracle of technology, we can see how it is done.With the aid of a screen magnifying lens the mechanism becomes apparent. 

Click on THE LINK BELOW - it will take a few seconds to load, then - Run your mouse over the circle. If you stop, watch what happens.  Also look what happens when you click on the circle……. http://www.1-click.jp/

Texas Family Avoids Steep Rate Hike April 25, 2007

Posted by Jay Medina in Informative Articles and Free Reports.
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Dan and Monica Matthews bought their Texas home in 2004.  In order to buy their beautiful home, they used an adjustable rate mortgage that would enable them to buy right away and take advantage of a sweet deal on a brand new house being offered by the home builder.

As they approached their third year anniversary of their loan, they were referred to my services from someone they trusted.  The Matthews’ were concerned their rate might go up instead of down, given the current market trends.

After reviewing their situation, I found that they were just about to have their rate adjust upward 1.5% on top of their current rate.

If that happened, their rate would be higher than their budget would allow, straining their finances. After asking them a few basic questions and doing some research on my end, I found a loan program that would enable the Dan and Monica to move their loan to a 30-year fixed and keep the same payment as their adjustable rate mortage.

In other words, the Matthews’ now have the same rate and payment of an adjustable rate mortgage three years ago, except now they are on a 30 year fixed.

If you or someone you know is in an adjustable rate mortgage, contact me right away at (866) 509-8796 ext. 2416, so that we can work together on finding a fixed-rate solution that makes sense for you.

And remember, I can help anyone anywhere in the country. Thank you for reading and for doing something positive today.

New rules set by Freddie Mac April 15, 2007

Posted by Jay Medina in News and Information.
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Beginning in September, Freddie Mac will change its policies regarding the purchase of subprime adjustable-rate mortgages. From that point, loans with little down and very small payments up-front will undergo much tougher guidelines. It will not buy subprime loans unless the borrower is qualified to pay for the loan at its fully-indexed and fully-amortized rate, not merely a short-term, low-ball rate.

Also, there will be stronger required proof of financial capacity. For most borrowers this will mean showing tax returns and W-2 forms, and they will require lenders to collect money each month to assure that property taxes and insurance are being paid.

New mortgage-related regulatory bill approved April 15, 2007

Posted by Jay Medina in News and Information.
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The new Regulator Reform Bill legislation that would overhaul the oversight of government-sponsored enterprises (GSEs) – Fannie Mae, Freddie Mac and the Federal Home Loan Banks – has been approved by a vote of 45 to 19 by the House of Representative’s Financial Services Committee.

The law would create a new, independent regulator, the Federal Housing Finance Agency, to regulate the GSEs. Also, the bill creates an Affordable Housing Fund to support rental housing and homeownership for low-income families by using contributions from Fannie Mae and Freddie Mac, based on their total outstanding mortgages annually. The program would continue for five years.

Growing opportunities for real estate investors April 15, 2007

Posted by Jay Medina in News and Information.
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As most people know, real estate is a cyclical industry. Last year’s downturn in sales activity has motivated some real estate investors to turn away from more property acquisitions. However, some astute analysts say this is a very opportune time to invest, or start a real estate investment program.

“Owning some income-producing real estate, in addition to having a solid portfolio of other investments, can be a very good thing,” said Dave Ramsey, author of the book, “The total Money Makeover.” For investors willing to invest for the long term, owning properties can be a path to financial freedom for many, he noted.

Single-family homes make very good first properties because they don’t entail the same hassles and headaches association with multi-unit apartment buildings. Homes can be easily turned into rentals and are also much more affordable than, say, multi-family units like duplexes and triplexes, according to Robert Sheehan, economist for the National Apartment Association.

Home sellers are now more realistic with pricing, so the current housing market offers a lot more choices for buyers who get more for their money. That translates to more and better opportunities for investors.

Mortgage rates remain low April 15, 2007

Posted by Jay Medina in News and Information.
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Mortgage rates are remaining at near historic lows, keeping the “window of opportunity” open for home buyers and homeowners who want to refinance their mortgage. During the last week in March, the average rate for a 30-year, fixed-rate mortgage was 6.16 percent with 0.4 points (fees), according to Freddie Mac, a major government-sponsored buyer of existing mortgages. The average rate for 15-year fixed-rate loans is 5.86 percent.

“Recent data has been sending conflicting signals about the direction of the housing market,” said Frank Nothaft, Freddie Mac’s chief economist. “The rise in existing home sales in February to a 6.69 million unit pace, the highest level since last April, offered some hope of firming in housing demand. In contrast, February’s new home sales fell unexpectedly to 848,000 units, the slowest pace since June 2000, suggesting that more time will be needed before a housing recovery takes place.

“Despite concerns about possible spillovers from troubles in the subprime market, rates on 30-year fixed-rate mortgages remain stable. The low rates support affordability and aid in the ultimate recovery of the housing market.”

Clean Up Your Credit April 4, 2007

Posted by Jay Medina in Informative Articles and Free Reports.
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Thanks to the recent subprime fallout, lenders are requiring much more than a pulse to give you a mortgage these days.

A year ago, many mortgage lenders were giving money away with their eyes closed. You didn’t need a down payment, lousy credit was not an issue, and you barely had to prove your income.

But that backfired — duh! — and surprise, surprise, the folks who had bad credit and no income weren’t able to make their mortgage payments after all. Shocking. So lenders have decided to pull in the reins a bit.

Does that mean you’re stuck?

Read the rest of the story: Clean Up Your Credit

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