J C's (firsthome) Blog

Recently the government has used all its power to help the consumer from lowering down rates and asking the lenders to modify the terms of loans that can not be refinanced. For those that couldn't be helped resulted in foreclosures that then became REO's. The wave in California is about to come. ...

Hi All The mortgage world is starting to see more and more changes. One lender Just Mortgage sent the email below. I would advise any escrow you have with a broker to make sure Just Mortgage is not the lender. I would also suggest to work with a direct lender as it seems the broker world is chang...

  It is getting really rough on Condo owners to refi their property. Effective April 1, 2009, once again, Fannie Mae is raising its loan fees. Condo and co-op mortgages over 75% LTV : Add 0.750 percent to fee. This means that lenders will start to implement these increases right now since loans o...

I have been advising my clients for the last few weeks to get at least a financial analysis done. We are in uncharted waters right now. I did an analysis for client just today who asked, just for kicks Juan why he should I refinance my 5.5% rate. We discussed his plans to stay in the property for...

Hi All, I have been in the industry for 10 years and lets say it is rare to come across a situation new to me. In the 10 years in the mortgage industry I had seen the values go up resulting in new homeowners to pay a supplemental tax (the difference from old value vs. new value). The values have ...

Hello All, I hope everyone had a great Holiday season. We are ready to embark in a historic year in 2009. The beginning of the year is usually the time when we make our new years resolutions. The first should be to get your finances in order. Look into a mortgage check up, well there is no better...