Vax D and Mortgages

VAX D what does that have to do with Mortgages? Nothing however see what some of Dr. Steve’s patients say about it. http://youtu.be/x8bMowSPQe0

I like good news don't you

Had an appraisal come in almost 5% higher than the purchase price :)

Simple Truths - We Hope You Enjoyed the movie!

Simple Truths - We Hope You Enjoyed the movie!

Take the time to sit back and take a deep breath.

Tim Tebow and what is he about.

http://youtu.be/VDM2oaXkh4k

Some up beat music

There is light at the end of the tunnel and they are not necessarily extending the tunnel for now.


News Happenings

http://ow.ly/7Q2UA

According to a recent survey by the National Association of Realtors (NAR), the typical U.S. homebuyer spent less and borrowed less in 2011. NAR's annual Profile of Home Buyers and Sellers, which due to methodology tends to under-represent investors versus owner-occupied properties, reported that "first time buyers, who made up 37% of the market, down from an historic 40% share, had a median age of 31 and income of $62,400, up from $59,900 in the 2010 study. This buyer typically bought a 1,570 square foot home for $155,000, taking on a median monthly mortgage principal and interest payment of $794. The typical repeat buyer was 53 years old, earned $96,600 (up from $87,000 reported last year) and purchased a 2,100 square foot home for $219,500 with a median payment of $1,006." Most purchased a SFR (77%), 9% a condo, 8% a town or row house and 6% some other kind of housing. The median down payment for all buyers was 11%, however for first-time buyers it was 5% and for repeat buyers 15%. In both cases the median was a full percentage point higher than in 2010. Fifty-four percent of first-time buyers financed with a low-down payment FHA mortgage, and 6% used the VA loan program which requires no down payment."

Large and smaller print:
According to a recent survey by the National Association of Realtors (NAR), the typical U.S. homebuyer spent less and borrowed less in 2011. NAR's annual Profile of Home Buyers and Sellers, which due to methodology tends to under-represent investors versus owner-occupied properties, reported that "first time buyers, who made up 37% of the market, down from an historic 40% share, had a median age of 31 and income of $62,400, up from $59,900 in the 2010 study. This buyer typically bought a 1,570 square foot home for $155,000, taking on a median monthly mortgage principal and interest payment of $794. The typical repeat buyer was 53 years old, earned $96,600 (up from $87,000 reported last year) and purchased a 2,100 square foot home for $219,500 with a median payment of $1,006." Most purchased a SFR (77%), 9% a condo, 8% a town or row house and 6% some other kind of housing. The median down payment for all buyers was 11%, however for first-time buyers it was 5% and for repeat buyers 15%. In both cases the median was a full percentage point higher than in 2010. Fifty-four percent of first-time buyers financed with a low-down payment FHA mortgage, and 6% used the VA loan program which requires no down payment." see more here

Thanksgiving

It has been another challenging year of change and opportunity. In the mortgage industry, we have been impacted daily by new regulations and investors’ demands for quality. At the same time, we have been able to take advantage of low interest rates, resulting in increased application volume.

Everyone has worked hard and worked together to serve our borrower(s). Thank you for your commitment to quality and to excellence. Our offices will be closed on Thursday and Friday as we all take time to enjoy this holiday with friends and family.



I hope you all have a safe and Blessed Thanksgiving.


Warmest Regard,

Mr. Will

Fannie Mae and Fredie Mac First timw home buyers

On 11/22/2011 10:25 AM, Will Rudloff wrote: www.willrudloff.com
On the good news side of things, Existing Home Sales came in above expectations driven by an increase in single-family sales. It takes down the inventory to 8 months, although the distressed sales amounted to 28% of the activity (vs. 13% In Sep), and that first time home buyers made up a greater share of activity. Year over year existing home sales and are 13.5% higher than the 4.38 million unit level in October 2010. Analysts point out that this month's report is a bit more positive but do not expect the trend to persist. And loan agents can tell you that contract failures reported by NAR members NAR National Assoc of realtors)
Information earlier from Rob Chrisman [rchrisman@robchrisman.com]

Today's Thought

From Forbes earlier today:
“ Only in quiet mind is adequate perception of the world. ”

— Hans Margolius

Home Under Water

Home under water?
The two main servicers of mortgages made some changes regarding refinancing homes that are under water. These new provisions became effective on November 15th.

At 5pm yesterday, both Fannie and Freddie released their "versions" of the Home Affordable Refinance Program.

Here is a small excerpt,

“For loan applications on or after December 1, 2011, eligible loans are those "sold" (not closed) to Fannie and Freddie BEFORE June 1, 2009.”

This could be a great opportunity for clients who intend to remain in their homes and need to take advantage of these lower rates. However, this is not for everyone. Please see the attachment we sent to everyone regarding these refinancing changes. There are some very important details that you need to read.

If you would like more information, please visit my Website HERE.

Am I smarter than you??

Thought this article was worth sharing:


I’m smarter than you are
November 16th, 2011. By Mike Marchev

I could wax eloquent on this subject and have lots of fun doing so.
But in the interest of time–both yours and mine, I will immediately
Address the subject at hand.

I believe I am smarter than you for five very simple reasons:

1. I read a lot. I don’t care what books you read while attending
Harvard or MIT. Or Wellesley or Smith. I was a History Major at UMASS
and for the past 40 years, I have yet to be asked a question about the
Battle of 1812. I do want to know everything I can about people,
sales, marketing, why people think the way they do and how the
different generations differ in thought and practice. The answer to
all these questions come as a result of reading. And I read a lot. Do
You read a lot? Or are you content on staring at your diploma from a
Zillion years ago?

2. I fail a lot. I refuse to stay within my comfort zone and play it
safe. I am constantly trying new things both on and away from the
Internet. I believe that with failure comes learning. I fail a lot. Do
You fail a lot? Do you learn from your failures?

3. I am coachable. Knowing you don’t know it all is key. Being able to
Internalize constructive criticism and learn from other’s experiences
Is a skill worth developing? With being coachable comes the
Willingness to practice. I practice a lot. Do you practice a lot?

4. I listen a lot? Most people simply wait their turn to speak. I
Listen a lot. Do you listen a lot? Do you enter a conversation with?
The understanding that you already know what you know, and that the
Trick is to learn and benefit from what others know. The key is to
Develop the skill of “listening.” Go to school on other people.

5. I laugh a lot. The ability to find the humor in most situations is
A skill that differentiates the true professionals from the wanna-bes.
Humor drives a happy environment. Being confident enough to laugh at
Yourself puts others at ease. I laugh a lot. Do you laugh a lot?

And there you have it. Five reasons why I believe I am smarter than you are.

I read, fail, learn, listen and laugh more than you do. Hence, I in my
World by my definition, I am smarter than you.

But, as in everything I do and everything I say, I may be wrong. In
This case, I truly hope I am wrong. I want to believe that you read,
fail, learn, listen and laugh more than I do. Because if you do, you
are on your way to a super-fine life. Get on track. Then keep on
track. Be smarter than me.
Thanks Bev from J&B Travels www.jandbjourneys.com

Why do we do it.

http://www.forbes.com/sites/sap/2011/11/09/what-paterno-teaches-us-about-ethics/?partner=following_topic_daily

From Forbes Earlier:
The old quote goes “Principles only mean something if you stick by them when they’re inconvenient.” Or to quote Denis Diderot specifically, “There is no moral precept that does not have something inconvenient about it.” Leadership is hard, but if it were easy everyone would be one. We can learn alot as business leaders from this specific example.

Avoid Foreclosure: Florida

Avoid Foreclosure: Florida

Quotes for the folks. Enjoy your weekend Mr. Will from Jville..

We can let circumstances rule us, or we can take charge and rule our lives from within.
- Earl Nightingale

Positive thinking will let you do everything better than negative thinking will.
- Zig Ziglar

When life gives you lemons, Make Lemonade.
- Anonymous saying

What lies behind us and what lies before us are tiny matters compared to what lies within us.
- Ralph Waldo Emerson

Student loans

If a debt payment, such as a student loan, is scheduled to begin within twelve months of the mortgage loan closing, the lender must include the anticipated monthly obligation in the underwriting analysis, unless the borrower provides written evidence that the debt will be deferred to a period outside this timeframe.

Got pain?

This is not Mortgage related, however we have lived very close to this for years see the video clip at the bottom of the page and feel free to share with those you love and care for. Not for everone, but just check this out.

http://www.thepaincenter.com/abram-burgher.html

Mortgage interest rates

Bill Fisher earlier Mortgage Coach Rate Watch report:

Fannie Mae, in a forecast issued last week, predicted that 30-year fixed mortgage rates would average 4% in 2012, and 4.2% in 2013. Pause in the midst of your current sip of coffee and ponder with me one of the likely ramifications of this forecast (if correct).

As the relatively humorless writers of the Fannie Mae forecasts have it, “Despite recent marginally positive economic trends, the economy is stuck in a slow growth scenario that is expected to continue for a relatively extended period.” (Don’t you just love those “recent marginally positive economic trends”? It’s like a young teenager getting a ten cent increase to his monthly allowance. Gosh, thanks, Dad! And how about that “relatively extended period”? Enough already?)

Wide receivers and interceptions

We were at church yesterday and the sermon topic very apropos for this time of year and football. Boy wasn’t Sunday so sad for Cardinals, and the Colts.

It was about interceptions.
I guess you would say we are the receivers that intercept the lenders plays.
Welcome to the new Era of lending.

Hope you had a great weekend. http://mrwilljville.blogspot.com

What is your Cause?

An interesting read last night. We all think about goals and mission statements, however think about this what is your cause. Seems you can move more on a cause that you can a goal. We were thinking of my coach Jack Harsh mentioning to me about what is my passion and then this book. The title For the Cause by Brian Houston~ published by Maximized Leadership INC.

You know think about this for a moment and look up the meaning of cause.
Webster:
A- A reason for an action or condition
B- Something that brings about an effect or result
C: a person or thing that is the occasion of an action or state; especially: an agent that brings something about.

So are they Goals, Passion, or?
This will make you look closely to what motivates us.

Mr. Will from Jacksonville www.willrudloff.com

Your Christian witness in the Market Place.

Be creative

Waiting for the next onslaught of news from the world’s credit markets, here’s some musing on “recovery.”

The Sacramento-Stockton area, since it was an epicenter of foreclosure activity, has more recently begun to demonstrate the ways local real estate markets can emerge creatively from the depths of the economic crunch.

The community of Elk Grove, for example, has 967 bank-owned properties, most of them boarded and silent, waiting to go on to the market at an undetermined future date. Recently, though, fifteen of the homes have been purchased by a municipal organization, improved, and sold at a low enough price to qualify as a great opportunity for low-end buyers.

The money for this comes from the federal Neighborhood Stabilization Program and the improvements are guided locally by NeighborWorks. The amount of money allocated is determined by how bad the foreclosure situation is and has been in an area. Elk Grove has receive $2.4 million. The city suffered 2,657 foreclosures between January 2007 and June 2008—which should qualify it for great sympathy, at the least.

There are currently about six homes on the market (check egplanning.org/housing). It’s limited to first-time buyers within certain income ranges. And it’s working.

Now, the sale of fifteen homes to qualified low-income buyers is hardly going to make the foreclosure problem disappear. But within the modest parameters of its goal and expectations, it’s working. When a home goes from empty and boarded to attractive and occupied by people with pride of ownership, the whole neighborhood begins to improve. Lenders get REOs off their books. Local builders get work. And any profit generated by the project goes back into the program to help bankroll the next home improvements. (The program also includes assistance with down payment.)

Such things need to be done on a small scale, it seems; otherwise, they stop working very well. “Baby steps,” as the old film, “What About Bob?” asserted.

I confess I am astonished that we are still seeing so few effective programs dealing with foreclosed properties, homeowners who are underwater, and neighborhoods in decline. Perhaps most people look at the magnitude of the remaining problems and assuming it’s all too much and there is no way to whittle it down to the size that allows us to make genuine progress toward solutions.

Baggage

We heard an interesting sermon yesterday about baggage that we carry around with us.
One thought popped out at me as we were listening. The ole adage sticks and stones will break my bones, but words will never harm you, is a lie words do hurt and you can carry them around with you for years. So check yourself if you hear them, and remember you are what you think about every day so to thy own self be true, think great thoughts. “There is nothing quite so complicated as simplicity.”

Mr. Will from Jacksonville
www.willrudloff.com

Steve Jobs

Here is something for you to really consider……
We all heard of the great loss to mankind with
the passing of Steve Jobs.
I honestly feel like I have lost a friend with his passing.
Here he was, 56 years old, loved by millions…..
Handsome, clever, witty, enriched countless lives….
….and had Billions of $$ in the bank,
one of the wealthiest people on earth….
Yet,  you and I are infinitely wealthier than he is…
…. As WE HAVE TODAY,  and sadly, he does not.
Spend your infinite wealth today on something
that matters, enrich people's lives like Steve did.
Spend your day today,
like Steve Jobs would spend it if he could.
Make today count!
Celebrating the gift of "Today" with you today,
Carl    Carl White a systems Coach associate earlier willrudloff.com

Unwanted 800 number calls

Try this and see if it works ok
http://www.ehow.com/how_6195445_block-800-numbers-cell-phone.html


From Mr. Will http://www.willrudloff.com/willrudloff.com

Rates still at their all time lows

What is all the hullabaloo about low interest rates?
Well they are low for sure and depending on your frame of mind and security, this may in fact be a time to look.
Things to consider time your going to be in your home

Job and its stability

Spread from your rate now to the lower rate.

No one knows, but where you are in relation to where you want to be is the question.http://www.willrudloff.com/

Mortgage Rates Bill Fisher earlier Mortgage Commentary

We in the mortgage biz watch interest rates day-to-day, even hour-to-hour, as we strive to provide clients with well-reasoned choices. But compared to the task of predicting where rates will be in a few months, our short-term job is easy. Not only do we have a shaky Greek sovereign debt to worry about, we have an even less predictable U.S. political process to worry about—and the 2012 campaign is upon us. It seems to me, as a result, a good time for clients to arrange the financing now that may need to be nailed down in the foreseeable future.willrudloff.com

Credibility

It’s not about position, but Credibility

Our influence has less to do with our position or title than it does with the life we live. It’s not about position, but production. It’s not the education we get, but the empowerment we give, that makes a difference to others.

-The Maxwell Leadership Bible

Tips from some of Mr. Will from Jacksonville’s readings

Very Touching from a dear Friend when he lost his sister

We lost our Little girl several years ago and here is a song that a friend dedicated to his sister when she passed.
http://youtu.be/tf6wd8cOD-o

Credit and Collecting Debt from TY Crandall Elite Credit earlier today

The Fair Debt Collection Practices act is a law designed to protect consumers against unruly creditors and collection companies.
They have a ton of rights under this act which will help stop creditors and debt collectors in their tracts.
We use this law to help locate creditor and debt collector violations, and then use those violations against them to force the removal of negative credit items.
Take a look at what creditors and collectors CAN'T do by law, and see how many of these violations you have seen before...
Debt collectors are not allowed to tell others details about the consumer including that they owe a debt, they cannot communicate with anyone other than the consumer more than once, not communicate through post card or have ANY markings on the outside of their envelope indicating they might be a debt collector.
Basically, collection companies cannot use the fact that they are a debt collector to bully you into paying.
They cannot identify themselves as a debt collector to your employer, and they cannot send things in the mail to identity they are a debt collector with the intent of embarrassing or causing other hardship to you.
Debt collectors are also not allowed to call a consumer at an unusual time or place. This includes before 8 a.m. and after 9 p.m. A debt collector cannot contact a consumer at their place of employment if they have reason to believe this is prohibited by the employer.
They are also required to immediately cease and desist contact with you if you are represented by and attorney, or if you notify them to do so in writing or notify them that you refuse to pay the debt.
Any violations within this act can be costly to the debt collector, especially in the civil and class action aspects.
Ty Crandall Elite Credit

Bring it all full circle http://youtu.be/gnRKPBj7fLg

Is it time to Refinance

Is It Time to Refinance?
Three Questions to Consider
Leonard Baron, MBA, CPA, and author of Real Estate Ownership, Investment and Due Diligence 101


So you've read that interest rates are near historic lows and you want to figure out if you can refinance. Financing has become significantly harder to do and more expensive in the past few years, thanks to the financial crisis. But refinancing is still possible and may make financial sense.

In this article, we will run through some of the basic issues you should contemplate to help give you a framework for deciding whether to refinance. The best person to help you sort through this framework and help you reach a final decision about when to refinance is your mortgage lending professional. But doing a little homework beforehand will help you ask your mortgage professional the right questions.

Here are three questions to consider when you are thinking about refinancing:

Planning on moving? The first item to consider is whether you're going to own the house in question for at least two to four more years–the longer the better. If you're not planning on owning for at least a couple years, refinancing may not be a net benefit to you. HOWEVER: The bigger the mortgage, and the bigger the differential between your current mortgage interest rate and the rate you might get by refinancing, the more refinancing might make sense even on a shorter term basis like two years. So rather than dismiss the idea, this is a good topic to discuss with your mortgage professional in terms of your unique situation.

Can you even qualify for a refinance? It can be tough to refinance these days. If your loan-to-home-value ratio is too high–meaning that your property doesn't appraise at a high enough value in comparison to the amount that is still outstanding on your loan–it may be harder to refinance. The bank may also consider you to be a higher risk if you're self-employed, have a high debt-to-income ratio, or if you have credit issues. But the only way to know for sure is to check with your mortgage lender to examine your options.

What are the costs versus the reduction in interest rate? If you are qualified for financing, your lender will also let you know what interest rate you can secure and how much it will cost you to refinance. You can then do a rate versus loan fee comparison to see if refinancing makes sense. For example, if you refinance a $300,000 loan it might cost $6,500 once you add up points, escrow, title, appraisal, etc. If your loan is dropping by one-half of a percentage point you will save $1,500 per year, which is about $1,000 after taxes. So if you are paying $6,500 to save $1,000 per year, it will take you 6.5 years to earn your money back. That may or may not be a good deal for you, depending on how long you are planning to stay in your home. The bottom line is add up all the costs you will incur by refinancing (remember to exclude items like prepaid interest, taxes and HOA fees that you pay whether you refinance or not) and compare these to your cost savings. This will help you determine whether now is the time to refinance.

Generally speaking, it can be time consuming and challenging to properly dissect the costs versus benefits of refinancing a property. That's why it's a good idea to talk to your trusted lending professional, who understands the right questions to ask and can help you work through the details to make an informed decision.

If you have any questions about your personal situation, contact the professional who supplied you with this month's issue of YOU Magazine. Take action now, so you are protected when you need it most.

Leonard P. Baron, MBA, CPA, is a San Diego State University Real Estate Lecturer, a long-term real estate owner, author of Real Estate Ownership, Investment and Due Diligence 101 and loves kicking the tires of a good piece of dirt! At ProfessorBaron.com you can download his free "Real Estate Buying Due Diligence Checklist" under Chapter 1: Due Diligence. No sign up or registration needed–just download it!

Contributing author Wendy Mihm is the founder of FinancialRx.com, for women who are busy, competent and have it all together–except for maybe one thing: their family's finances. See more information on the website to get your financial house in order.

Are you walking on the yellow line in life?

Mortgage Rates

Will Rudloff Mortgage Team

Average rate on 30-year-fixed loan is 4.22 percent, but many can't take advantage. http://ow.ly/6eEK2

Who is your top client?

http://youtu.be/e__Ah3jVhzM Your top client is ?

Smart Money on Customer Services

Take a look at this on Customer services http://www.facebook.com/l.php?u=http%3A%2F%2Fow.ly%2F6aruW&h=5AQAWf0HlAQBD5_q2Bvue-Wuu2j5FgzxuYTG3rsFH-arAAA

Today

Make what ever you do today important and see why little adjustments matter.

Mr. Will  take a peek   http://youtu.be/UXa0n-04YDE

Who are we and what are we about

Mr. Will and his mission http://animoto.com/play/gqrdTTIXfwhgRCmyJE5L3g

Hurricane is coming and are you planning a home closing in Florida?

Mortgage Rates at their lowes

See here on CNN Money http://money.cnn.com/2011/08/18/real_estate/mortgage_rates/index.htm

Renting and wonder about the timing of should we buy?

Here is a short linkt to see if the Rent game is still a good option or should we buy. http://mcedge.tv/169tf3

Credit and what is important

From one of our credit reporting companies:

You have heard the myth before about inquiries lowering your credit scores. But is this REALLY true?

The truth is 10% of your total score consists of your accumulation of new debt. The bureaus do monitor how much new credit you are applying for. And if you are applying for a lot of new credit in a short period of time, your scores WILL go down.

Keep in mind; this is only if you apply for a substantial amount of new credit or if you are applying for a lot of "like" credit such as a bunch of auto inquiries.

If you go to apply for a mortgage, all mortgage inquiries in a 2 week time period ONLY count as 1 inquiry on your credit report. 

Your scores are impacted if you apply for A LOT of new credit. So if you apply for a Sears and Chase card this week, your scores might only go down 1-2 points on an 850 point scale.

But if you apply for 9 credit cards this week, your scores WILL go down. The scores are lower when the credit bureaus see a problem with either a lot of new debt being applied for.

Your scores will also be lower if you have a bunch of inquiries for one particular industry. So if you have 12 auto lenders pull your credit, the bureaus see this as an issue with you getting approved and lower your scores accordingly.

So YES your scores will go down if you apply for a lot of credit in a short period of time. But don't worry, applying for a car, home, or credit card only a few times really has a minimal impact on your credit scores.

Don't apply for too much new credit too fast to insure you have a healthy credit profile and healthy financial future

Article from EC Elite Credit Inc. ^{TY Crandall}

some of our Video links

See our other links to what we are about:

Rates or Cost http://youtu.be/-pAdQv6KlgQ

Pre-Qualification http://www.blogger.com/goog_1940028689

What is a Mortgage Planner about http://youtu.be/icn_zqUQtuk

Credit and Why http://youtu.be/AdX8_NpfIgM

Rent or Buy? http://youtu.be/gtq4fEpf5dA

Here we are and where are we going?

The Mortgage markets normally go the opposite direction than the stock market; rates go up money pulled from the safe haven mortgage backed securities or in this case the 10 yr T-note into the stock market.
Well not this week. The Stock market jumped again 200 points and interest rates fell with the 10yr Treasuries breaking the resistance and dropping to 2.88%. Normally you see the mortgage interest rates rising, not!!

Go figure as some 20 or 30 something’s would say, and I to would agree because we pal around with a lot of them. Whatever.

With rates at all time lows this is a good time to think of getting off the Rent VS buy band wagon and if you have a good job and feel like you want to put down some roots take a look out there are a lot of homes to look at.

Call me or visit us on Face Book Will Rudloff Mortgage Team as times are a changing, however keep in mind rates may drop, but they also go up a whole lot faster. The cost off waiting can be a costly mistake.
Well from Mr. Will from Jacksonville just a thought......

Who is Mr. Will: Here we are and where are we going?

Who is Mr. Will: Here we are and where are we going?: "The Mortgage markets normally go the opposite direction than the stock market; rates go up money pulled from the safe haven mortgage backed ..."

Meet Mary a Home Stager