Patti Geib's (pattithemoneylady) Blog

I don't know about you but this hope and change thing is not working for me or for the country when you consider the COST.  Being a mortgage broker, i.e. Certified Mortgage Specialist, my number one concern is COST.  Is my borrower getting value from the cost of the loan.  Is it putting  him or h...

Instead of waiting for the Assessor to get around to reducing your property taxes to reflect the current market value of your property, file an application for Changed Assessment with the Assessment Appeals Board. The "Board" consists of three members who have experience in the field of real esta...

We haven't seen this lately, it's HOT and I am lovin it.  A True SIVA program from $500K to $3MM both owner and non-owner occupied properties. WOW it's just what the market ordered!!  I can hardly wait to hit the streets and start knocking on doors talking about this program. The LTV"s are mid ra...

Well now it's been a couple of weeks since the new  appraisal guidelines kicked in, how's it working for you?  If you are an independent mortgage broker, as I am, you must feel cut out of the loop.  I just opened an email from one of my favorite lenders with a very threatening message stating tha...

The dust has settled and life goes on.  Rates have plummeted for their programs but qualifying is a lot more difficult. Starting in October the new risk base pricing takes affect; it was always there but to a lesser degree.  It's very important for your borrower to keep the LTV at 60% or under fo...

With the Senate rushing to pass the big $300B "bailout" for lenders and some homeowners, I'd like to propose another option that won't cost the TAXPAYERS a DIME.  But it will improve the current NOD's and future foreclousre ratios while stabilizing the real estate market by keeping people in thei...

If you live in California it's time to start that new re-training program because if you use your cell phone - PDA or Blackberry while driving you will be ticketed.There are actually two laws that will take effect on that date.One specifically targets those drivers Under the age of 18.  They will...

I don't mean Uncle Sam, I mean Shared Appreciation Mortgages.This type of mortgage is very popular in Europe but never gained any ground in the U.S. until now.   With everyone searching for solutions, including the Feds, the discussion about SAM has been reopened with the lenders.  Giving a 2% re...

Bank of America, Wells Fargo and Citi said they will cut back on lending.  I ask you how much money does it take to encourage these banks to lend?  Ben needs to pony up more cash to keep the economy going.  This is a Classic Example of why we need private money funding mortgages.  Their rates are...

No not Ben, although he did kind of say we might be slipping into a recession, I mean I heard it from a non-governmental source.  One with no reason to sugar coat the truth.I heard the word from a very reliable source in Beverly Hills on Saturday morning.  We are in a Recession.  Apparently this ...