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Here is information about a new mortgage program that was just put into effect in California for first time home buyers.



The CALIFORNIA ASSOCIATION OF REALTORS® Housing Affordability Fund (C.A.R.H.A.F.) is offering a new mortgage protection program to first-time home buyers. Through the C.A.R. H.A.F’s Mortgage Protection Program, first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month for up to six months to help make their mortgage… Continue

Here is some important information regarding the 2009 Stimulus and changes that will take place because of it.



1. The legislation resets the conforming loan limit cap at $729,750, up from $625,500. Numerous counties in California experienced a marked decrease in their conforming loan and FHA limits on Jan. 1.



2. New Car Deduction - A surprise provision arriving late in drafting the stimulus package allows purchasers of new vehicles for the rest of 2009 an… Continue

There is a great new product that may have a big impact on your family or someone close to you. Recently, the FHA announced changes in their already popular reverse mortgage product, the Home Equity Conversion Mortgage (HECM), that lowers its cost and increases the loan limit. Recent changes also include the implementation of a fixed rate reverse mortgage product, and the use of the HECM for a purchase transaction.



The HECM loan is designed for homeowners in or near their retirement… Continue

Fannie Mae recently put out this interesting article that helps customers who are struggling with their mortgages.



Helping You to Help Your Customers



As a mortgage broker, you are a trusted advisor to your customers. When customers turn to you for questions about refinancing because they are struggling with their mortgage payments - you need solutions.



There are many options available and that’s why Fannie Mae wants to help you stay… Continue

Uncertainty in Financial Markets Could Cause Dramatic Rise in Existing ARMs at Next Adjustment

If you or anyone you know has an Adjustable Rate Mortgage, this is an important point to consider. Many ARM loans are tied to the London Interbank Offered Rate (LIBOR). In fact, there are six million loans in the United States that use LIBOR to determine the interest rate and as the name suggests, many banks use this rate to lend money to each other.

But, today, banks lack confidence that… Continue