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I came across this story and thought it was a pretty good story to share and if you do not have a particular faith but at least have some kind of belief that there is a higher power then I think you will still get something from this. It seems now more than ever that tons of people are going through some kind of hardship, and I hope that this story has the ability to lift your spirits
Please, Daddy, Don’t Do That Again!
By Tim Wright
When my son was only about three years old, he and his sisters were playing a game that involved chasing each other though the house with loud giggles of laugher erupting every few minutes whenever one of them came close to tagging one of their siblings.
The giggles were interrupted suddenly by a loud crash followed by a blood-curdling cry of pain. I jumped to my feet and ran to the living room where the apparent mishap had occurred. My son had come around the corner too fast and had fallen head first into the corner of a table. I quickly picked him up from the floor where he was lying and held him in my arms both to comfort him and to examine the wound. Streams of blood gushed from his forehead.
By the time we reached the emergency room, his tears had subsided a bit, but I was nervously anticipating the slight trauma still ahead of us. After examining my son’s forehead, the doctor confirmed that he would need to stitch the wound in order for it to heal properly. The good news was that the cut would require only one stitch. The bad news was that the doctor planned to do it without any anesthesia. “We can stick him once or we can stick him twice,” the doctor informed me.
I was then told that giving him a shot to anesthetize the area would be just as painful and traumatic as giving him the single stitch. The shot would then have to be followed by a second “stick” to actually stitch up the wound. I reluctantly agreed with the doctor and opted for the single “stick”.
I encouraged my son that he was being a “brave little boy” as the doctors and I gently strapped a restraining device around his tiny body to keep him from thrashing around on the table during the procedure.
Inside, I was fighting back tears as he looked at me with frightened, but trusting eyes. “Keep looking at Daddy,” I encouraged him. “You’re being a very brave little boy.” His huge eyes remained locked on mine as the doctor gently washed out the cut and prepared to stitch the wound shut.
“Okay, here we go,” the doctor said quietly. “It should be quick.” “Keep looking at me,” I said, trying to smile and draw his trusting eyes into mine. “Daddy’s right here.” With precision and swiftness, the doctor quickly stabbed the curved needle into the swollen flesh near the cut on my son’s forehead. My son’s eye’s widened as he gasped in pain. Then in a whimpering voice that carried the sweetness and innocence that only a three year-old can summon, he looked up at me and said, “Please don’t do that again, Daddy.”
My heart broke. How do you explain to your three year-old son that the pain he is experiencing-the pain that, in his mind at least, was caused by me-was inflicted with love, with a desire and design to bring healing? Oddly enough, that is one of my most precious memories of my son’s early childhood. The procedure was over almost as quickly as it had begun and, after a few hours, my son had returned to giggling with his sisters. (Running in the house, however, was forever banned from that point onward.)
His trust and sweet response to the ordeal continues to pierce my heart with love for him. This episode is also a reminder for me of our heavenly Father’s love and care for us and for those around us who may be experiencing a painful season in life.
In my mind’s eye, I can envision God holding us as our Father whenever we’re hurting and telling us to keep our eyes on Him and to trust Him, even if we don’t understand why things are happening to us. When we’re tempted to blame Him for our pain or to cry out, “Please don’t do that again, Daddy,” we can take comfort in knowing that He is very near to us, that He loves us and to trust that, even though we may not always understand, there is a higher purpose at work in everything that happens to us.
So keep your eyes on Him. Trust Him. He’s holding you and healing you. He will never let you go. Know, too, that giggling-or however you
experience joy-will soon be a part of your life again
I Hope That you enjoyed it and I seriously had flood of memories come to me when my daughter broke her arm at that time she was only 3 yrs. old and I can still remember the anxiety and helplessness I felt as she was in pain. Now she is running and giggling and being a kid…. as a child should be.
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Buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
 my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
This is something that is no longer new news but it ceases to amaze me how few are really aware of it. The reality is that most banks that were bailed out would rather foreclose on a homeowner than actually find some way to help keep the home owner in the home. Many of the homes for sale in Santa Maria or the homes on the Central Coast are still primarily foreclosures but it did not have to be that way. After you watch the video on the link below believe me if you are wondering why the banks put you through the ringer and bend over backwards to do a short sale or why they would rather foreclose on you than do your loan modification and you can’t understand how they sold the house at such a loss vs. work something out with you will you will know now. 
The video pretty much explains how it works, and why it benefits the bank, the only thing I want to point out is that this scenario also corresponds to many banks that received BAIL OUT MONEY. It is a shame that the banks that received tax payer funds have an incentive to foreclose than actually help out.
Although not all banks are created equal by the end of 2009 Chase Bank had over 5000 Loans modified? The largest bank in the country, B of A had less than 100 loans modified not only the largest bank but also one of the largest of recipients to receive bailout money. These banks were given our aid and with now record bonuses some in the 8 digits is a complete travesty with more foreclosures to come.
The double edge sword is that the homes that will end up on the market for sale need to be sold the sooner all these assets are sold the sooner we can see some sort of recovery in the real estate market. There are still Santa Maria homes for sale that are foreclosures as well as homes on the Central Coast.
IF YOU BELIEVE THAT THIS IS WRONG WHAT THE BANKS ARE DOING AND MORE PEOPLE NEED TO KNOW ABOUT THIS PLEASE SHARE. THIS INFORMATION APPLIES TO WHERE EVER YOU ARE IN THE STATES NOT JUST HER IN CALIFORNIA.
just follow the link if it does not work please let me know
http://www.thinkbigworksmall.com/mypage/player/tbws/23087/1447612
Hopefully this was useful nformation and if you happen to be looking for any Santa Maria homes for sale or Central Coast homes for sale. Let me know if I can be service to you. But if you are out of my area I hope that this information was useful.
Remember I can help you get the financing you need for your home anywhere in the state of California
Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.
Thank you
 If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home Real Estate or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
This is a question that I got the other day
Hey I had a few questions about buying a home. First off what kind of down payment is involved for a first time home buyer and what if your credit isn’t all that great???
So this is going to be part 2 of that question and rather than rehash a lot of what I have said before in previous blogs I will simply provide the links to them but something to keep in mind.
I have helped and seen people go from a 580 to a 680 over a period of 6 months so it is doable but it does take work on your part and you do have to follow through.
So if you have bad credit don’t let that stop you, if you have the means to fix it. I admit some individuals may not be in the position to do anything about their credit but I have found many are its just a matter of wanting to do work and actually do something about it. Here are the articles and to cut to the chase the simplest and easiest way to improve your credit report is to contest what is reporting on your credit report, but for now here are two previous articles.
http://tipsandadvice.geneperez.net/?p=96
http://tipsandadvice.geneperez.net/?p=118
Hopefully this was useful and if you happen to be looking for any Santa Maria homes for sale or Central Coast homes for sale. Let me know if I can be service to you. But if you are out of my area I hope that this information was useful.
Remember I can help you get the financing you need for your home anywhere in the state of California
Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.
Thank you
If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
This is a question that I got the other day
Hey I had a few questions about buying a home. First off what kind of down payment is involved for a first time home buyer and what if your credit isn’t all that great???
First I am going to start with the obvious and then do a little clarification that always seems to get some a little confused, on down payment and closing costs. So this will be part 1 of the answer to the question.
Most loans done today are FHA which is just short for Federal Housing Administration. FHA loans are govt. sponsored loans so that pretty much explains why they are so prominent since they are really the only one’s with any money to lend. The other type of loans that are usually bank loans are conventional we won’t be going into that since it maybe too difficult to qualify in today’s market. So lets get started with some First Time Home Buyer Information and please keep in mind if you are I can help you get the financing for your home anywhere in the state of California.
 To do a FHA loan all you need CURRENTLY IS 3.5% down payment on a house. I want to make sure you caught that which is CURRENTLY. There is a lot of proposals and pressure to increase the down payment on a house to 5%. Aside from increasing the down payment to 5% there is also the possibility that minimum fico scores may be increased and the PMI was just increased. The PMI is Principal Mortgage Insurance, this does nothing for the homeowner this is solely for the benefit of the bank and is insurance in case the home owner were to default on the loan. On FHA loans a portion of the PMI is financed up front in the closing costs and can vary depending on your current credit scores. These are just a few things to keep in mind if you are contemplating on buying a house now or waiting for things to get lower or that super duper deal. If home prices do get lower but your down payment increases and qualifications to get approved gets more difficult and your closing costs become more costly. Then what does it matter what the price of the home is 6 months from now or a year from now if you no longer qualify for the home loan. So the food for thought is if you want to buy a home for sale on the Central Coast or a home for sale in Santa Maria, and you think they may get cheaper just keep in mind you may qualify today but not tommorrow.
 Closing costs and Down Payment this is something that seems to confuse most first time home buyers. Your Down Payment is just want you need to bring into the game based off the purchase price so if you are buying a home for 100k then all you need to bring in is $3,500.00 which gets applied to the purchase price. Closing Costs is what you need to get the loan and this is sometimes a shocker to some first time home buyers because you usually need a lot more than just the down payment. The closing costs are what it will cost you to get the loan. Part of getting the loan as mentioned above is YOU pay for the PMI and that can vary depending on your credit score. But for this example we will use the 2.25 of your loan so add 2,250.00 then there is your escrow and title and lets just add $2,000.00 and there are your impounds. Your impounds are your taxes and your insurance not the PMI but homeowners insurance for the house and they collect this upfront and depending on the time of the year will dictate how much is collected up front due to your new property taxes. Let’s just say $3,000.00. Then there are loan costs for actually doing the loan whether you pay point and the admin costs associated with the loan. Let’s just add $2,500.00, and do remember these are just numbers purely for demonstration purposes only. Keep in mind that median price for homes in Santa Maria is slightly higher and is more around $200,000.00 and not 100,000.00. Median price for homes on the Central Coast is even higher and this example is just for illustration purposes only on potential closing costs it can actually even be lower, so don’t get scared just yet.
PMI – 1,750.0
Escrow and Title - 2,000.00
Impounds - 3,000.00
Actual loan Costs 2,500.00
Total $9250.00
If you would like a loan Worksheet to help you figure your cost and payments Please let me know
So now going back to just $3,500.00 is a pretty small number BUT before you get discouraged keep in mind that in today’s market sometimes you can get the seller which when dealing with foreclosures is the BANK. Luckily for you the bank will sometimes pay for some of your closing costs . This is where you need to make sure your team is on the same page with you and by your team I mean your Realtor that will help you negotiate with you on the contract and your loan officer that will help you get the loan, and who needs to know what you are trying to qualify for. So for this example it’s the $3,500.00 plus the $9,250.00 which is a total of $12,750.00 you will have to bring at closing. Most of the transactions on homes for sale in Santa Maria are currently either foreclosures or short sales and in most case the banks are paying up to 3% of the closing costs. Now homes for sale on the Central Coast such as San Luis Obispo or the 5 cities are have more normal transactions and the seller or homeowner may not be so inclined to pay for those costs as easily as a bank.
Okay now to other stuff and by other stuff I mean other loans. There are loans out there based on the community that you live and how much money is available to you as grants for new home owner ship. So in this respect check with your local Realtors that are usually aware of funds available. Santa Barbara county and San Luis does not have any special programs that I am aware of but I do know that Ventura County has some special programs as well as Kern so check with your local Realtors for special programs.
If you live in a rural area you can even still get 100% financing so NO MONEY DOWN and that leaves you with more money to pay for the closing costs and if the bank helps out even better. These loans are USDA loans. I know you think of that when you buy meat but they lend too. But they are usually for rural areas here locally for example you cannot buy a Santa Maria home but you can buy a home for sale Guadalupe or a home for sale in Nipomo with a USDA loan. There are some other aspects of the loan such as income caps and loan amounts these loans are more for lower and middle income not for your Mc Mansions. Go here to type your location to see if it is eligible for 100% financing its pretty simple. All you gotta do is follow the directions does not matter where in the country you are in this link will help you find out if the program is available in your location. If you have any questions on this just shoot me a comment.
http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income@11
Hopefully this was useful and if you happen to be looking for any Santa Maria homes for sale or Central Coast homes for sale. Let me know if I can be service to you. But if you are out of my area I hope that this information was useful.
Remember I can help you get the financing you need for your home anywhere in the state of California
Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.
Thank you
If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
This is a question that I got just the other day Part 2
Q: HI! Happy New Year! How was your Christmas? Mine was busy as usual. Anyways I have a few questions for you. Which source do you think is the most reliable to find current foreclosures? Motivated Real Estate
Agents or Brokers, the court house or those foreclosure list they sell? On to the next question. Do you know of any other sources I can look into?
Here is my answer to part 2, there are several places where you can find information to buy a foreclosure. I am not really into buying lists since the information is for free. This is not going to be a complete list of where to find foreclosures but it will give you some ideas where and what it may take to find them since this is more for your do it yourself person and it should point you in the right direction. First place to look out for foreclosures, that will be hitting the market is your local newspaper. So if you want to find some foreclosures’ locally and want to find Santa Maria homes that will be for sale just check out the Santa Maria times in the classified section where it lists Trustee Sales.
When the homes are printed on your local newspaper it will list the address and the dollar amount of the minimum bid of the loan in default and the date of the trustee auction as well as the location. Typically the location is your county court house for example if you are looking for Santa Maria homes or homes in the county of Santa Barbara they are typically going to hold the auction at the court house in Santa Barbara. Now when you try to buy a home at a trustee auction you will need to pay for it in a Cashier’s check there are no loan papers and you will not be going home to get a loan etc. You also will be assuming the property AS IS if there are any issues with the property including any liens, easements, or plumbing problems or termite infestation they are now your problems. So before you buy a home at a trustee auction like I said before make sure you know what you are doing and do your homework first on that property.
Next place to find homes that will become foreclosures and if you don’t have the time to buy the paper or you want to buy homes out side of you current area. Go to this website and just sign up its free www.fidelityasap.com. Here you will find all the same information that you do on the newspaper. When trying to buy a home at these trustee sales you will find out that a lot of them are rescheduled and cancelled or postponed etc for any number of reasons and there is no real way to find out which one’s will actually be auctioned off that day. This can be very, frustrating on trying to buy a home but sometimes you can get some incredible deals.
 Santa Maria Foreclosures santa maria real estate
Next place for another source of foreclosures is www.homepath.com. These are Fannie Mae owned homes and they will be either hitting the market or on the market right now and they are assigned to a real estate agent in that area. You can either call the agent directly or have your agent look into if you read part 1 I suggest finding yourself an agent to work on your behalf and have him contact the listing agent. You can sign up for notifications and at least you can see what homes may be hitting the market. So go here to find Santa Maria homes for sale or will be for sale or you can look up your particular area, that you may be intersted in the useful aspect is being able to get advanced notice of the homes that will be for sale.
Last place to find some foreclosures are at auctions done by private auction companies you can do a search on the internet to find one near you. Keep in mind you will have to find out what are the terms and conditions of that particular auction company, in order to participate in the auction. Here is one you can check out and see what homes that they may have for you particular area that you may be interested in http://www.auction.com. They usually provide a list of homes and addresses and minimum bid as well so you can have time to do your homework prior to the auction.
Like I said before the best place is going to depend on the amount of time you have to do the research. As well as the amount of money you have, because if you plan on buying a home at a trustee auction you need cash.
Hopefully this was useful and if you happen to be looking for any Santa Maria homes for sale or Central Coast homes for sale. Let me know if I can be service to you. But if you are out of my area I hope that this information was useful.
Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.
Thank you
If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
This is a question that I got just the other day
Q: HI! Happy New Year! How was your Christmas? Mine was busy as usual. Anyways I have a few questions for you. Which source do you think is the most reliable to find current foreclosures? Motivated Real Estate Agents or Brokers, the court house or those foreclosure list they sell? On to the next question. Do you know of any other sources I can look into?
A: Okay so here is my answer, Part 1 since its going to be a long and lengthy answer. So look out for part 2 later.
The best way to find foreclosures is going to depend on you for starters on how much time you have to invest as well as how much money you have. So I am going to give you several ideas on how to find foreclosure properties and the sources in part 2 and you can decide what works best with you.
First question is working with a motivated Real Estate agent or Broker? 
They are pretty much the same a Real Estate agent works for a Broker and the Broker is basically the person responsible for Real Estate agents in a particular office or offices. Now all things being equal and when dealing with reputable agents this is for the most part how things work. Now some food for thought.. there is a reason why a motivated Real Estate Agent is a good idea he is motivated!!! He only gets paid if he can find you a house that you like and can negotiate a transaction on your behalf that you will be happy with. SOMETHING TO THINK ABOUT !!!!! When you call an agent who has his sign on the property REMEMBER HE IS WORKING FOR THE SELLER TO GET THEM THE BEST PRICE AND DEAL. There are usually two agents involved in buying property, the listing agent, and then you have the buyers agent. There are Real Estate agents that can do a decent job for both parties but when you are dipping on both sides of the transactions and you were originally hired by the seller and you are representing the seller you have a fiduciary responsibility to get him the BEST PRICE AND SCENARIO FOR THE SELLER, its pretty hard to see how its not a conflict of interest. But for all intents and purposes its not considered to be one but imagine going through a divorce and the same attorney is representing the wife and husband,, first of all its not even allowed and I personally believe the same thing should be in real estate as well. When you hire a buyers agent he is looking after you and has a fiduciary responsibility to see that the terms of the transaction and the details are in your best interest. If he is a full time agent he has had experience on circumstances to look out for and PLEASE , PLEASE work with someone local, if you ask me about neighborhoods and stuff in Riverside, I WOULD BE USELESS TO YOU. When it comes to real estate it is best to work with some one that knows the area remember you are not buying a TV!!! So if you are looking to buy a Santa Maria foreclosure and it’s a Santa Maria home for sale or on the Central Coast home use someone local not from LA and vice versa, hey yes this is where I say use me.
 Last but not least and probably the most important thing is working with someone that is reputable not just someone with a business card, and does this on the side for some extra cash, try to find out some info on who you plan on working with. They do not have to be 20 year vets but are reputable, good character etc etc. Remember its not a TV you are buying here and this is for most people their most important investment and biggest purchase decision they may make in their life.
Just keep a few things in mind when working with an agent, and you are out shopping for a home there really are not that many homes on the market as there was last year. Its not that there are no homes for sale and foreclosures are dwindling its just that the banks have gotten smarter on the number of homes that they put on the market at any given time. There will be foreclosures to come for a few more years to come, so that is not something you should not even worry about. But being that there are less homes on the market you will have competition and it really is an artificial sellers market not a buyers market like so many think it is, and that is what the banks want but it really is a perfect time to buy. Rates are going up, and you get 8k if you are a first time home buyer, and $6,500.00 if you qualify and not a ftb, and then next year qualifying for a home loan is going to get tougher I will do a blog later, on some of the changes happening. But do not get frustrated in buying a home and give up if you are competing with multiple offers and yours are not being accepted.
But to give you an idea on the changes on the homes available ..on 11/24/08 the number of homes for sale in Santa Maria, Ca. under 200k was 110 vs the number of homes for sale in Santa Maria, Ca. 12/28/09 under 200k is only 22!. I did not do a search on the number of Central Coast homes for sale or any other area but from what I hear from other agents it is pretty much the same thing. The thing here is to keep in mind if you want to get a home you will have to be competitive and watching Carlton Sheets late at night and low balling homes for sale is not going to get you an accepted offer.
Buying homes this way using and using a reputable and motivated real estate agent you will not have to invest as much time as well as a ton of money. Your agent should be letting you know of homes as they hit the market and homes that are back on the market that fall out of escrow. He can also find out for you why they fell out of escrow? Big thing is most of these homes do not need to be paid for in cash etc. look out for my answers to the half of her questions.
Second question – the court house or those foreclosure list they sell?
Third question – Do you know of any other sources I can look into?
I am not really into buying a lists when the information is free I will answer this question right now ,,, most of the information you can find on foreclosures today is free and its public info so why buy lists? The banks and the govt. are trying to get rid of what they have for sale.
I will answer in more detail later, in part 2.
Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.
Thank you
If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
What is the Rate should be the least of your concerns first concern should be if you even qualify.
Whether you are a new home buyer or refinancing your home your first concern should be who you choose to do the loan for you. The times where you could deal with (1-800 give me a loan) with out any problems will not be so easy any more. New laws on the disclosures are going to make this more of a relationship business. It has always been a relationship business but there have been many fly by night companies that popped up and left, as well as individual that were only in it for the money and not their career of choice. The reality is when you deal with someone that is in the industry as their career of choice vs someone that is only part time and doing it only so often makes it very difficult for that person to be up to date with all the changes that are taking place. Changes that can kill your transaction from ever closing, on the most important investment decision that you may ever make.
 Asking what is the rate is basically having the mentality that one size fits all which could not be further from the truth. Without knowing anything about the transaction or the client’s credit history the rate can be whatever you want it to be, but whether you get that rate is a different matter. The rate that is quoted on T.V. or in the Newpapers for all intent and purposes is really a teaser rate and to create some interest or even a a baseline for what the best of clients may qualify for but not neccessarily you. So if you are looking at homes in Santa Maria to buy or a Central Coast home here are some steps that your lender has to consider in helping you determin what the rate may end up as- 1) credit score- this is probably the first and most important factor of all I have had many people with plenty of income to qualify but I could do nothing based off of their credit scoret. 2) type of transaction- is this an investment, primary, second home etc. 3) the loan amount- yes the loan amount for a loan can change the rate jumbo loans and conforming loans are not created equal. 4) The Loan To Value of the transaction- basically how much equity is in the property when doing the transaction the more the better. 5) the property type-this is huge a single family home will get a better rate than most condos and a modular home will not get the same as a single family home as well as a home with too much acreage. 6) and even the extenuating circumstances regarding the details of the transaction- this is where sometimes what we call are letters of explaination as to job history or medical collection accounts no the credit or a number of things all the other stuff that does not fit in your normal day to day. Taking all this information into account its easy now to see why asking what is the rate FIRST should be the last thing you ask.
First find out who you want to work with in handling your financing. Second find out if you QUALIFY? Third if you qualify when and is it possible to close because just because you qualify today with new guidelines you may not qualify tomorrow. LAST BUT NOT LEAST IS WHAT IS THE RATE GOING TO BE of course you want to know what is this going to cost you, but your loan officer needs to get all the information first and foremost.
Please help me out in giving you the information that you may be interested. If there is a topic that you are curious about need more clarification let me know.
Thank you
 If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
If you plan on buying a home any time soon here are something to consider whether you plan on buying a home for sale in Santa Maria or on the Central Coast this is good information when getting that loan
Via Eleanor Thorne, Cary Mortgage Loans (Meridian Residential):
There are tons of first time homebuyers out there negotiating the best deal on their new home, and now it’s time to get a mortgage.
Most of them only know how to ask one question: What’s the Rate?
We’ve been in the mortgage business for over 20 years – and the only thing most people know to ask is - “What’s the Rate?”
While that’s a great question, it’s kinda’ like going into a shoe store and asking if they have any shoes in a size 9. Just shopping the rate is not necessarily going to get you the best price.
And what is the best price anyway!?! Most of the clients that call us speak to my husband, Steve. The first thing he ALWAYS says is, “hey, thanks for calling! So you were referred to us by (insert name of friend, co-worker, agent, builder)? That’s great! 
So, tell me a little bit about what you’re trying to do.”
I share an office with him – and after listening to him say this for like the 90th time I turned and looked at him saying, “THEY WANT TO BUY A FREAKIN” HOUSE!” He wasn’t amused…. but once calmed down he explained to me why he askes that question, that way (and why it will help you when shopping for a loan).
Most clients answer the question of what they are trying to do one of these ways…
Each of these items will help the loan officer determine which mortgage program (like those different kinds of shoes) will work for you! The PROGRAM will then help us get to a mortgage interest rate… and knowing your credit score and how much money you want to part with for closing costs will determine your rate.
 So let’s assume you figured out which program you are going to use to finance your home – YIPPEE! One more step in the process! Now you can just call loan officers and ask for their rate on that program and those terms with your credit and compare – it’s not even that easy!
You want to be certain that you are working with an experienced loan officer. The largest fianancial transaction of your life is far too important to place into the hands of someone who is not capable of doing more than just quoting you a rate.
So here are some other questions for your loan officer:
What’s the next Economic Report coming out that might effect the direction of Mortgage Interest Rates? A seasoned loan officer will have this information at their finger tips, and will know, for instance, that the FED says it will stop purchasing Mortgage Backed Securities in October of 2009, which could cause rates to go up…
When Bernanke and the Fed “change rates,” what does this mean… and what impact does this have on mortgage interest rates? The answer is not obvious. The Fed has some impact over SHORT TERM rates, like those on your credit cards, however very little actions the Fed takes (especially recently) has created a lower movement of Mortgage Bonds. Because of the “bad name” associated with Mortgage Bonds in the SubPrime market, fewer people are purchasing these bonds… That’s why it’s important to note that the Fed says it will stop purchasing Mortgage Backed Securities in October (If you have other questions about this just call us!)
Once you believe that you are working with a seasoned loan officer, there are other points to consider… If  you talk to 3 lenders who all tell you the rates are at 5.25% and you talk to another person who says they are at 5%… well, you’ve got to question what that lower priced lender is doing. For the most part, rates are rates. The cost of money is pretty close to even across the board – so, if it sounds too good to be true, it probably is. There could be extra fees, or they could be quoting a rate that is only good for the next 12 days.
You get what you pay for! If you are looking for the cheapest deal out there, understand that you are placing a highly important process into the hands of the lowest bidder. (If you’ve ever had a cheap haircolor job or a cheap haircut, cheap pair of shoes that KILLED your feet or fell apart - you know what I mean).
All too often, you don’t know until it’s too late that the cheapest isn’t BEST. Remember that missed closing dates in NC can now mean a FINE to the buyer. Most “internet companies” do not operate in the State of North Carolina and do not know our laws – or even how we close loans.
If someone mentions closing at the Title Company – you know you’re dealing with someone who’s not from here, and some delays and differences in quoted closing costs and actual closing costs will likely occur.
Understand that Interest Rates and Closing Costs go Hand in Hand. When someone asks me for a rate – I ask them which one they want. I’m not being sarcastic (well, okay maybe a little) but we have interest rates from 2% to 10%. It depends on the program and the amount of money you want to pay out of your pocket.
Many first time homebuyers want the smallest amount of closing costs (so they can buy a hot new leather sofa!) and will therefore take a slightly higher interest rate – so that the lender pays the closing costs. A professional lender will be able to offer the bst advice and options in terms of the balance between interest rate and closing costs that correctly fits your personal goals.
So our advice is to be smart. Ask questions… but don’t just ask what the rate is!
Call Steve and Eleanor Thorne 919-649-5058. We’ve been mortgage Lenders in North Carolina with the best mortgage rates for decades!
If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
This is a very informative article in the preparation for the purchase of a home.
Via Pat Ogle & The AnnapolisHomes4You.com Team (Champion Realty, Inc):
When preparing to buy a home, the first thing many homebuyers do is look at “homes for sale” ads in newspapers, magazines and listings on the internet. Some potential buyers read “how-to” articles like this one. The next thing you should do – before you call on an ad, before you talk to a Realtor, before you shop for interest rates – is look at your savings.
Why?
Because determining how much money you have available for down payment and closing costs affects almost every aspect of buying a home – including how you write your purchase offer, the loan programs you qualify for, and shopping for interest rates.
Mortgage Programs
If you only have enough available for a minimum down payment, your choices of loan program will be limited to only a few types of mortgages. If someone is giving you a gift for all or part of the down payment, your options are also limited. If you have enough for the down payment, but need the lender or seller to cover all or part of your closing costs, this further limits your options. If you borrow all or a portion of the down payment from your 401K or retirement plan, different loan programs have different rules on how you qualify.
Of course, if you have enough for a large down payment, then you have lots of choices.
Your loan choices include such varied programs as conventional fixed rate loans, adjustable rate mortgages, buy downs, VA, FHA, graduated payment mortgages and all the varieties of each.
Shopping Rates
A very important reason you need to have at least some idea of your down payment is for shopping interest rates. Some loan programs charge a slightly higher interest rate for minimal down payments. Plus, the interest rates for different loan programs are not the same. For example, conventional, VA, and FHA all offer fixed rate loans. However, the rates vary from one program to another.
If you shop lenders by phone, the loan officer will be able to tell which programs fit and quote you rates accordingly. However, if you are shopping on the internet, you have to have some idea of your loan program on your own.
Writing Your Offer
Another reason you need to have a clue about your down payment is because it affects how you write your offer to purchase a home. Not only are you required to put your down payment information in the offer, but different loan programs have different rules which also affect how you write your offer. This is especially important when dealing with FHA and VA loans .
If you are asking the seller to pay all or part of your closing costs, you have to be certain your loan program allows what you are asking. For smaller down payments, lenders allow the seller to pay less closing costs than for larger down payments. Some loan programs will allow a seller to pay certain types of costs, but not others.
Finally, your down payment also affects your ability to qualify for a loan. When you make a small down payment, lenders are fairly strict about having you conform to their underwriting guidelines. For larger down payments, they will tend to make allowances or exceptions to the rules.
TOP RESIDENTIAL REAL ESTATE AGENT: LICENSED SINCE 1986
Pat Ogle, Associate Broker, CRS, DSAC, e-Pro, GRI, MCJ, REALTOR® Certified Residential Specialist / Certified Internet Marketing Specialist Over $73,000,000 in Settled Sales Champion Hall of Fame Best of the Best 2003, 2004, 2005, 2006, 2007, 2008 National Sales Award, 2003, 2004, 2005, 2006, 2007, 2008 #1 in AOL, Comcast, Google and Yahoo #1 Relocation site for Annapolis, Anne Arundel County
Champion Realty, Inc. 711 Bestgate Road, Annapolis, MD 21401 410.224.0660 (O) 443.569.2736 (C) 410-224-0632 (F) e-Mail PatOgle@AnnapolisHomes4You.com Visit http://www.annapolishomes4you.com/ BlogAnnapolisHomes4You.blogspot.com Please Don’t Forget to Show Your Support for Our Troops!
If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
Here is a great article on what this agent has picked up on when dealing with short sales. When It comes to the homes for sale in Santa Maria they are either foreclosures or short sales for the most part.
Via Joe Murphy (Coldwell Banker):
I have now have closed a lot of short sales in the past three years. My words of wisdom for buyers, and sellers who are considering a short sale. Short sales can be a great deal typically selling for 10-20% below current market value. BUT, they have a tendency to frustrate buyers, and sellers in the process.
Patience, involvement and realistic goals are helpful to get a short sale closed. Either everyone wins, or everyone loses. The buyer gets a great home, for a fair price. The seller gets rid of a home that is under water, and can potentially wipe out a huge debt while avoiding a dreaded foreclosure. The market benefits because a short sale keeps one less home from becoming a foreclosure, or derelict.
1. There is nothing “short” about a short sale.. Only your patience.
I have closed a short sale in a record 4 weeks. The buyer went to contract the day the home listed. The seller was experienced real estate assistant, who was very involved with dealing with the bank. The bank was the “servicer” and the “investor“. Servicer is the bank that payments are made to, and act as an intermediary to the investor who owns the note. In this case, they were one and the same. The home was in excellent condition. The buyers really wanted this particular home. Basically everything went perfect in this deal. Still, the buyers were anxious and considered canceling the contract because it was “taking so long”.
2. Most transactions take a few months to get an approval, or counter offer.
It can still take a few more weeks for the ” investor” to give written approval. I have experienced negotiators for lenders that will counter, negotiate, and verbally approve a deal, before any acceptance from the investor is given. Certain lenders take longer than others to get assigned a negotiator. This is really the major hurdle to get to an approval. Getting someone at the lender to talk with about a specific deal.
3. Inspections should be done shortly after going to contract, not waiting for “LENDER ACCEPTANCE”
It is very common to sell a short sale home two, three, even four or more times before a buyer sticks to the deal. Most short sale offers are written very loosely with many outs for the buyer. MLS rules dictate that homes “under contract”, even short sales have to be put pending. Many times when many hours of work have been invested to get a short sale approved by the lender, the deal dies because the buyer is dissatisfied with the home inspection report. These sales are most often “AS-IS, with right to inspect”. The problem is that this is usually tied to the effective date of the contract which is the day the lender gives written approval of the short sale. Short sales are often poorly maintained, and neglected. Utilities are often disconnected, pools are green, lawns are overgrown and full of weeds. You get the idea.
My suggestion for my buyers and sellers is that the major home inspection done within 10 days of going pending. If there are major issues, the buyer can adjust their offer accordingly to account for unknown defects. Also, with a written report the defects in the home can be submitted to the lender to further encourage them to accept the offer. Of course I would always recommend a walk through inspection, or home re-inspection close to the close date to account for any further defects, vandalism, or theft to the property.
4. Realistic list prices and reasonable offers
Some times a buyer will call me with news of a home that seems to good to be true. Most often, they are. A listing agent can under price a home so dramatically that it can bid up the price. In my experience short sale homes will sell for 0-20% under the current, appraised value. So, if the home would be priced at 300,000 under normal circumstances, the same home as a short sale should sell for at least 240,000 and up. Short sales are not fire sales, they have to make sense to the lender and the buyer. . All buyers are looking for a great deal, but that does not mean the bank is going to be willing to take a loss without considering the alternative of foreclosure and resale.
Some listing agents will under price a home by more than 30% market value. This will get their phone ringing, and the offers flying, but is a disservice to the seller, buyer, and other home sellers in the market.
To be able to “steal” a home, it would be better to first look to foreclosures, and motivated, regular sellers. A property owned by the bank (REO) has to sell. The price will be lowered until someone buys it. Also, motivated regular sellers, that can afford to sell in this market, and “NEED” to sell are sometimes willing to make a deal just to be able to move on. Short sale buyers need to be patient, and realistic with the price they are willing to pay. This means if it is worth 250,000, don’t bother with the 50,000 offer.
5. Sellers need to be PROACTIVE in the closing process.
My job as the Realtor is to expose the property to the buying audience. Make the property available to potential buyers, and agents representing buyers. And negotiate a successful CLOSED transaction. I can help the willing, but if someone is drowning in quicksand, I can extend the stick, but I can’t jump in to save you. A home seller has to take the process very seriously. One of the most important indicators of a short sale’s success is the Sellers tenacity to follow up with the lender(s), maintain the home, organize and prepare the required documents. Of course, My team, and the seller’s negotiator are going to be calling and pushing to make the deal go, and keep the buyer updated, but the ones that go quick always have a very involved seller.
6. Hire a GOOD negotiator to assist with the lender negotiations
Short sale Sellers often are having money issues, but acquiring assistance is critical to the success of a short sale. This does not have to cost a fortune either. Options include title companies, that can charge as low as a few hundred dollars, to attorneys that can charge a few hundred an hour. Some firms charge a flat rate to take on a short sale negotiation. The added help is really needed due to the tedious process of following up with lien holders. If you are a buyer and the seller does not have a skilled negotiator involved, be wary. I have closed many deals without outside help, but the cost is greatly outweighed by the benefits for the seller. I have many options for the seller to consider.
If you want to search for any homes for sale in Santa Maria or the Central Coast you might want to buy just go to www.GenePerez.net.
If you have any questions about this article or buying a Santa Maria home for sale or any properties on the Central Coast or need to get a loan in Santa Maria, CA or on the Central Coast as well as other real estate related questions please contact me by sending me an email at: GenePerez@GMSLoans.net
my goal is to provide you with resources you need. I can also help in getting the financing for your home. If you have any suggestions or questions in how I can provide more or better information please let me know. I have been helping my clients for the last 15 years on the Central Coast, Gene Perez, Ph. 805.448.7101, Fax, 805.352.1109 – DRE 01321588
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