Feb 20th Mortgage Market Update

30 year fixed rate 4.75%
( 4.983% APR )
30 year fixed FHA rate: 4.75%
( 5.005% APR )
Jumbo rate: 5.375%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.694% APR)

Today's News:


Mortgage applications rose 45.7% last week
Falling interest rates cause refinance filings to soar, MBA data show:

http://www.marketwatch.com/news/story/week-to-week-mortgage-applications-up-457/story.aspx?guid=A3E1C145-F14E-4F97-B311-C6E822E0F8B3

Good video

Feb 13th 1 min Mortgage Market update

30 year fixed rate 4.75%
( 5.010% APR )
30 year fixed FHA rate: 4.75%
( 5.010% APR )
Jumbo rate: 5.375%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.694% APR)
Today's News: Great article that recomends people buy now.

Consumers' cash cows Plenty of falling prices, but 'deflation' party likely to be short-lived

http://www.marketwatch.com/news/story/Plenty-falling-prices-deflation-party/story.aspx?guid=%7B90A9F770%2DB166%2D477F%2D92A0%2D0B867A07AF66%7D&dist=hpts

Loan Modifications:

Our business is to help in any way we can when it comes to home finance, if you are having trouble affording your house payment, or are severly upside down in your mortgage we can now help you in modifying your loan. Using both legal and financial means to aggressively pursue negotiations with your lender to modify your loan.

After collecting some information from you, we do a preliminary analysis. Then, after discussing general terms with your lender, we provide you a scenario that either :

(a) reduces your payment,
(b) reduces your interest rate,
(c) reduces your principal balance, or
(d) a combination of these.

We do NOT charge any upfront fees for this analysis. Once we determine whether we can help, we work with you on the fee to be charged, and proceed according to your timeframe. If we can be of support and assistance, we want to work with you to modify your loan.

example:
5 yr. IO (Interest Only loan) @ 6.5% on 1st
Value of home: $187,500
Outstanding balance on mortgage: $297,600


Outcome: Reduced payments the payments 1st went down to 4.625% on a 30 yr. fixed, 2nd mortgage got a principal reduction from $48,500 to $19,652
Total savings of $586.00/ mo.

Feb 12th Mortgage Market Update

The Dow is down again I hope we can stay above the 7,500 floor. Rates are a little better, and foreclosures may be slowing.


30 year fixed rate 4.75%
( 4.965% APR )
30 year fixed FHA rate: 4.75%
( 4.983% APR )
Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)
Today's News:
Jan. foreclosures climb 18%, but fall from December

Loan Modifications:

Our business is to help in any way we can when it comes to home finance, if you are having trouble affording your house payment, or are severly upside down in your mortgage we can now help you in modifying your loan. Using both legal and financial means to aggressively pursue negotiations with your lender to modify your loan.

After collecting some information from you, we do a preliminary analysis. Then, after discussing general terms with your lender, we provide you a scenario that either :

(a) reduces your payment,
(b) reduces your interest rate,
(c) reduces your principal balance, or
(d) a combination of these.

We do NOT charge any upfront fees for this analysis. Once we determine whether we can help, we work with you on the fee to be charged, and proceed according to your timeframe. If we can be of support and assistance, we want to work with you to modify your loan.

example:
5 yr. IO (Interest Only loan) @ 6.5% on 1st
Value of home: $187,500
Outstanding balance on mortgage: $297,600


Outcome: Reduced payments the payments 1st went down to 4.625% on a 30 yr. fixed, 2nd mortgage got a principal reduction from $48,500 to $19,652
Total savings of $586.00/ mo.

Please email me for more information:

hughvh@themortggeguild.com

Feb 11th Market Update

The Dow was down over 300 points yesterday. It is attempting to recover this morning. I feel however we are still on a downward trend.


30 year fixed rate 4.5%
( 4.771% APR )

30 year fixed FHA rate: 4.75%
( 5.028% APR )

Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)

Today's News:

Lawmakers grill bankers about bailout funds
Bank executives say they are putting government money to work

http://www.marketwatch.com/news/story/Lawmakers-grill-bankers-about-bailout/story.aspx?guid=%7BE87293EB%2DF45C%2D41B3%2DBAF1%2D8931D7009804%7D

Loan Modifications

We have loan mods!!!! If you are having trouble making payments, or are more than 30% upside down in your mortgage

2/10/09 1 min mortgage market update

The Obama Administration is spelling out there economic stimulus plan. It reminds me of the scene from the first Batman movie where the Joker is doing parade down the street throwing a bunch of money to everyone. Now I guess we are all suppose to run out and get as much as we can. The parts of the plan that effects housing is a 50 billion dollar plan to help with loan modifications, and there is a plan to give liquidity to banks to make them start lending.



30 year fixed rate 4.875%
( 5.109% APR )
30 year fixed FHA rate: 4.75%
( 5.115% APR )
Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)

Today's News:

Overview of U.S. bank rescue plan

http://uk.reuters.com/article/economyNews/idUKTRE5194H420090210?pageNumber=1&virtualBrandChannel=0&sp=true

Loan Modifications

We have loan mods!!!! If you are having trouble making payments, or are more than 30% upside down in your mortgage please email me: hughvh@themortggeguild.com



I appreciate your business. Please don't keep me a secret. I feed my family off of the referrals I receive from you. I look forward to serving you and the ones you love for years to come.

Feb 9th Mortgage Market Update

30 year fixed rate 5%
( 5.213% APR )

30 year fixed FHA rate: 4.75%
( 5.117% APR )

Jumbo rate: 5.5%
Loan Amounts up to $2,000,000, 5 or 7 year fixed 30 year amortiation. LTV's up to 80%, call for more details.
(5.838% APR)

Today's News:

Five reasons to buy a home this year
Affordability returns to housing, and buyers have loads of negotiating power

http://www.marketwatch.com/news/story/five-reasons-buying-house-now/story.aspx?guid=%7B01DA1B93%2D91D1%2D49E4%2DA1B1%2D0ACA9CE66FF4%7D