Kirk Mulhearn's (kirkmulhearn) Blog

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Real Estate Broker/Owner - Prudential California Realty/Gem Mortgage
RECENT BLOG POSTS
  What is FHA 203(k) Financing?   Long Beach, CA. This US Governments housing program has been in existence since the 1990’s.  Its purpose allows a home buyer the opportunity to finance into a 30 year fixed mortgage upgrades and repairs they want up to $35000 above and beyond the sales price.  Be...
03/04/2009
Long Beach, Ca.  The new 3.5 trillion dollar national budget, the largest on record, named,  "A New Era of Responsibility: Renewing America's Promise." Was rolled out today by the wonderful people running this great nation.  Let us analyze the name....there is a lot in a name: A new era of respon...
02/26/2009
Long Beach, Ca.   After an exceptionally inspiring and charismatic speech,  our National Leader gave some of the best sound bites I have ever heard last night in an extremely populist speech.  Indeed, to watch many of the star struck senators and congressmen anxiously line up to have their progra...
02/25/2009
Watch the video here:  http://www.pbs.org/wgbh/pages/frontline/meltdown/view/ Long Beach, Ca.  Take the time to watch the Frontline video, "Inside the Meltdown."   It covers pretty well what the government has been addressing for the last six months.  It definitely is making it very clear that t...
02/24/2009
Long Beach, CA.  Notice to all school teachers:  Take advantage of the 80/17/3 CalSTRS lending program as soon as you can.  This is no doubt the easiest way to purchase a home if you are a school teacher.  The way it works is like this:  The investor will make a first trust deed at 80% of the sal...
02/23/2009
Long Beach, Ca.  Housing starts shrank to the lowest levels on record due to lack of credit and declining prices. Today, President Obama announced a plan to stem foreclosures by subsidizing mortgage payments for millions of homeowners. The plan will cost $50B. GM is seeking another $16.6B in new ...
02/18/2009
Long Beach, Ca.  Twenty thousand State employees will receive their termination notices this week.  Considering there are over 200,000 State employees, that may not be a bad thing.  There is a great brouhaha in Sacramento as State Senators fight it out over the new fiscal budget, which will have ...
02/17/2009
Long Beach, Ca.  When buying or selling an REO property, it is much better to go with a direct lender; especially, here is Southern California in that there's quite a bit of doubt about the viability and truthfulness for the pre-qualifications offered by mortgage brokers at the receiving end of a...
02/12/2009
Long Beach, Ca.  FHA loans may net you more when refinancing your home.  Wherein,  conventional  Fannie and Freddie  are limiting cash out refinances to 75% of a property's value.  FHA loans may go as high at 95% of the homes value; however, if you cash out more then 85% of the homes value, you w...
02/11/2009
Long Beach, Ca.   A friend of mine recently attempted to do a loan modification with Washington Mutual because of a pending divorce and hardship.  Because he was not late in mortgage payments, he was refused by the bank.  This seems to be a common trend with banks these days; for whatever reason,...
02/10/2009
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Kirk Mulhearn

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