Patti Geib's (pattithemoneylady) Blog

I understand your plight, the real estate market is slow, your equity has eroded and the market is still declining.  Rather than trying to sell your home by yourself you need to enlist the assistance of someone who can create a marketing/sales plan that could bring your potential buyer to the tab...

In a slow real estate market you really have to create some buyer incentives to produce results.  No I don't mean the typical "lower your price" until someone finally comes to the table, I am talking about something that gives perceived value beyond the price reduction.  How about an incentive th...

While we're waiting for the final guidelines to come down from HUD regarding the new conventional loan limits its time for borrowers who have the higher than currently existing $417K loans to start thinking about getting into the pipeline to jump start their refinance on their existing loans.   R...

Driving down the coast today was incredible.  I don't recall the sky being as blue or the ocean so beautiful and I could look towards the east and see snow on the mountains.  How incredible is that?  On a day like this I know why everyone wants to live in California.California is Location, Locati...

I am a Certified Mortgage Specialist.  I find you the perfect loan after your Realtor has found your dream home.  I don't think Realtors should do loans, nor should they have their convenient in-house lender.  That's "steering" and it is illegal.  I also do not believe Banks should be involved in...

Capital Hill has been a pretty busy place the last couple of days holding hearings over whether Roger Clemens used steroids and today both Treasury Secretary Paulson and Federal Reserve Chairman Ben Bernanke addressed the Senate Banking Committee. As Ben said and Paulson agreed we aren't going to...

The legislators in California are poised to make a few more changes in the rules.One of my concerns is whether it's going to affect Mortgage Brokers as well as Mortgage Bankers.  Banks are regulated by the Department of Corporations while Mortgage Brokers are regulated by the Department of Real E...

Mortgage Bonds tumbled today on the news that Warren Buffet (of Berkshire Hathaway) announced his offer to re-insure $880 Billion in municipal bonds backed by the troubled Ambac, FGIC and MBIA companies.  Meanwhile, San Francisco Fed President Janet Yellen will address a local planning/urban deve...

I was wondering when lenders were going to show some common sense and see that Zero Return on their money is less than the 4 or 5% they were receiving from the borrowers on loans that were due to reset in the near future and forcing many of these borrowers into foreclosure.Well they finally have....

According to Wall Street statistics we are in a "bear market,"  but this couldn't be a better time for the home buyer to purchase or home owner to refinance to a lower fixed rate mortgage.  Mortgage Rates are at their lowest point since 2005.It is especially attractive to those who have a "Jumbo ...