San Diego Home Loan Information

Subprime trouble

SDhomeloans.ORG — Tue, 13 Mar 2007 21:59:45 +0000

The Subprime housing market (home owners with less than perfect credit) is in terrible shape. One of the largest subprime wholesale lenders, New Century, is on the verge of bankruptcy joining the likes of Resmae, Fremont, and Acoustic Home Loans. Now for those not entrenched in the industry, these companies mean little, but for those of us that are know that this is horrible. The subprime home owners (many first time) are starting to default on their mortgage loans because their ARM loans are adjusting upward and so are their payments. Because of this, many institutional investors (HSBC,Citi,CSFB,DB,etc:) are beginning to ask the questions they didn’t bother to five years ago; and the answer is that these people should have never gotten the loans in the first place. So long story longer, investors are scared and selling their stocks resulting in the Dow losing 400 pts. in one day and 265 in another. A certain ex-chairman of the Federal Reserve said “recession” is imminent. Now people, he’s not even supposed to breath the word recession even if he’s thinking it. But he said it…Everyone that owns a home or stock should batten down the hatches and try to ride out this storm. Oh, the storm’s probably going to last four years….

Ever Heard of a combination loan?

info — Wed, 07 Mar 2007 03:33:05 +0000

The other day I was assisting a client with the purchase of her new home. Since she wanted to keep her cash we put her in a combo loan. The loan was a first lien mortgage (arm loan) and a HELOC. This common usage of an 80/20 combo loan is an effective way for a new home buyer to keep more of their cash!

Did you get all that? That is typical mortgage speak, but the process doesn’t have to be so confusing! Keep reading this blog daily and we promise you will learn all you need to know!

Dowtown Detours

SDhomeloans.ORG — Thu, 08 Feb 2007 20:13:49 +0000

I’m sure you’ve noticed the dozens of cranes highlighting the Downtown San Diego skyline as you’re cruising down the I-5. The pink and orange hue of the setting San Diego sun glistening off the glass windows of skyscrapers can leave you mesmerized, not to mention the JetBlue jumbo jet that just flew overhead. Well snap back into it before you hit the exit ramp because you are about to hit a gauntlet of construction zones and detours ! The resurgence and revitalization of Downtown San Diego is not only welcome and fantastic but necessary. With roughly a million residents slated by 2030, construction is going to be ever present. Complaining about it isn’t going to make it get better or go away and luck favors the prepared so let’s do that; before you head downtown, go to THIS site to find out where the delays and detours will be and plan yourself a better route. Info will also be provided for finding best routes and parking for concerts, baseball games at Petco, and other events. The diligent may also want to check THIS out, it’s a map of Downtown San Diego parking meters that offer 9 hours for $4.50, that’s $.50/hr !!

Dare to be great

SDhomeloans.ORG — Wed, 31 Jan 2007 23:53:14 +0000

The City of San Diego recently listened to two political heavyweights discuss their shared vision for the waterfront. One of the suggestions is to move the airport terminals, turning Harbor Drive into a promenade. Talks also included the possible construction of a cruise “mega-terminal” which would significantly increase the number of ships which could be in port simultaneously. The tourism industry applaud this idea. The County Supervisor thinks San Diego can be home to one of the world’s great waterfronts, proclaiming “It’s time for us to dare to be great.” The idea is in it’s infancy, without any real financial plans or architectural designs, but it’s nice to see politicians gather to discuss the potential and future of the San Diego waterfront. Check out THIS for a map & more…

When is a good time buy a home?

SDhomeloans.ORG — Tue, 23 Jan 2007 22:06:55 +0000

How about now? Rates are at historic lows and if you have good haggling skills you might get a little more thrown in than the kitchen sink! Sellers and developers in the San Diego will routinely include great amenities from plasma televisions to cars…and while you’re at it have the seller cover closing costs!! As previously mentioned, mortgage rates are at all time lows. We all know that rates being low is good for the average home owner..but which mortgage is the best for you? Check out THIS for a better idea of which mortgage best suits you and your lifestyle. Give me a 5/1 ARM Interest Only and I’m happy, safe and secure.

Free Credit Report

SDhomeloans.ORG — Thu, 18 Jan 2007 01:47:08 +0000

FYI - SanDiegoHomeLoans.ORG will give you a free credit report with mortgage consultation…

Downtown San Diego and Politicians

info — Tue, 16 Jan 2007 03:59:26 +0000

Found an interesting article at signonsandiego that talks about building a new city hall in downtown San Diego. Nothing really to think about since this project isn’t planned to kick off until 2010, however knowing how San Diego’s politics go they should break ground some time in 2030! The last sentence of the article sums it all up with common feeling about San Diego’s government. ““Somebody has to do it,” he said. “The downtown project is typical of what we have in San Diego. We’re long on talk and short on action.””

this is a test post

info — Tue, 13 Jun 2006 04:54:09 +0000

here goes nothing

Hello world!

info — Tue, 13 Jun 2006 04:51:11 +0000

Welcome to WordPress. This is your first post. Edit or delete it, then start blogging!