Lee Ginsburg

Is Your Home Under Water? New FHA Refi might help!!!
September 15, 2010 · · 2 Comments

 So many home owners in San Bruno, South San Francisco, Daly City, San Mateo and all over the country owe more than their home is worth (under water).  Some have tried to modify their loan, short sale, refinance and have run into a frustrating brick wall. 

Well here is a new alternative.  FHA has a new loan that will allow refinancing for homes under water.   They do have very specific requirement but it is worth a shot.  Please read the following article from the Sunday September 5, 2010 S.F. Chronicle written by Kathleen Pender in her Net worth column. Please do not hesitate to contact me for FHA approved lenders. lee@leesellsmore.com or 877-Lee-Sells    

  Read more

Lee Ginsburg

To Some Low Interest Rates are Better than the iphone 4
July 21, 2010 · · 2 Comments

Low interest rates also have apps. 30 yr., 40 yr., 15 yr., conforming, adjustable, 1 yr, 5 yr jumbo and more. Oh they are getting the best reception in years.

2010 HSHSite30FRM3yr

You may not see the lines out the door but look at the stack of files on the loan agents’ desks. We are in record low territory. Rates have never been this low in the 50 years of record keeping. How low? Below 5% fixed for the next 30 years. 3.75 fixed for the next 15 years. That’s how low. If you are buying you must understand these are not normal times. Take advantage. Jump in. What other industry will fix their price for the next 30 years. Ask the gas station on the corner, if you would commit to buying your gas there for the next 30 years, will they hold today’s price.

Homeowners, no matter when you re-financed last review the situation again with your loan agent. If you do not have one I can recommend some I work with.

A note to both homeowners and home buyers:      Read more

Dean Rizzi

The Costs are Outweighing the Benefits
June 29, 2010 · · 3 Comments

We’ve stated that the benefits of low interest rates have run their course. We hold to our contrary opinion that low rates are actually hindering more than helping markets these days. Consider the mortgage market: Even though mortgage rates are dwelling in the basement, fewer people are applying for mortgages. The MBA reported that purchase activity declined 1.2 percent to the second-lowest level since 1997 last week, while refinancing activity slid 7.3 percent from its May 2009 highs.

The Federal Reserve’s low-rate policy is hardly inspiring confidence. “Rates must be low because the economy is circling the drain,” so the man-on-the-street rationale goes. It’s the wrong message to send, because promoting risk aversion also means promoting inertia. Risk-averse markets are simply less willing to engage in riskier, but worthwhile, economic activity.

This risk-averse sentiment is readily reflected in the capital markets, where the relatively non-productive assets of gold and Treasury securities continue to be the investments of choice. That’s unfortunate, because we’d all be better off if there were more investment in the very productive (though riskier) assets of home purchases and renovation and mortgage lending.

 www.deanrizzi.com

Roweena Nastor

Refinance, Loan Modification or Short Sale?
December 17, 2008 · · 6 Comments

Refinance, Loan Modification or Short Sale?

This is the biggest homeowner question when I attended a Foreclosure Help Clinic this last weekend.  There’s no magic answer to this…it’s a case by case basis and really depends who the lender is or are when there’s more than one loan.  Each lender is different.

Refinance – when you owe more than today’s fair market value of your property or if your income status has changed for the worst then refinancing may not be an option for you.

Loan Modification – when you want to keep your property because it makes more sense to stay than rent; when your income status has changed for the worst due to illness, job lost or decrease income, death, divorce… Read more