Kiva How does it work? Kiva brings together lenders and worthy enterprises on the web.  From Kenya to Ecuador, microfinance institutions (MFI) around the world go to Kiva.org and post photos and profiles of low income entrepreneurs in need of money for their businesses.Loans made easy and personal. Lenders go to Kiva.org and browse through profiles of low-income entrepreneurs-a dairy farmer in Kenya, a man who wants to open a shoe shop in Honduras, or a tailor in Bulgaria. Lenders can then loan as little as $25 to the entrepreneur of their choice via PayPal, a globally recognized online payment service.When a loan is funded by individual lenders, Kiva pools the money and transfers it to a Microfinance partner who handles distribution and collection of loan payments.  Journal updates ke... 10/21/2009

Forget to mention that you just bought a new car or stereo system. Forget to mention that you have to pay child support or alimony. Forget to mention that you will be going on maternity leave during the escrow. Forget to mention that the money you are using for the down payment and closing costs are coming from a gift from family and there is not way to document it. Forget to mention that one of the borrowers (husband/wife) hasnt recieved green card yet, or greencard is expiring. Forget to mention that the borrower is married (applied as single man/woman), and let the lender discover it when you sign loan papers. Have the money needed to close escrow come from the sale of another property that hasnt closed yet, and you need to close this escrow first. Apply on line with one of these on... 10/21/2009

 In the real estate business non of us get enough credit for all we do to make it look easy! This is good and bad.....good for the customer (they appreciate how smooth the process went), bad for us in that they think we are over paid for doing what a monkey could do. I am amazed how little some agents thank the loan officer and the escrow officer for all the last minute things they do to make the deal close on time (e.g. Lender:drawing docs at the last minute, changes to closing costs, credits, changing coe dates, two week closes. e.g. Title/Escrow: preparing docs for signing in 1-2hrs of reciept of the loan package, doing signoffs on evenings, weekends, and when they should be at lunch, rushing the prelims out, waiting for the client/agents/loan officers for the apt when they are 15-30... 10/21/2009

Many homeowners and home buyers in California have probably heard of a bridge loan but do not know what it is or who should obtain one. A bridge loan is usually a short-term loan (usually written for three months to three years) that provides funds to buy real estate from a piece of real property that an owner has an intention of selling, but will not close before escrow closes on the new property.  This transaction is called a bridge loan because these funds "bridge the gap" between the closing of two transactions.  Let's look at an example of a bridge loan. Bill and Betty Buyer would like to purchase their California dream home for $800,000. The down payment required is 20%. They have enough money saved for the closing costs and cash reserves, but little else saved. Their current home... 10/20/2009

Life is what happens when you are making other plans! Who better than the "skipper" from Gilligans Island would know that? He started off his 3 hr cruise one day like any other day, and what happened? He was stranded with two rich people, a movie star, a professor, Gilligan, Maryann. Maybe he should have stayed home that day! 10/20/2009

Ten Things to do to make sure your escrow doesn't close on time! Don't get the signed purchase contract and addendums to the loan officer/bank right away. Don't meet the appraiser at the property asap to complete buyers appraisal. Take your time getting the HOA docs to Lender on condo and townhome. Provide a seller credit to the buyer without letting the lender know and have the credit be for things other than the non recurring costs (wait till the signing of the loan papers to let lender know). Mention in the purchase contract a pest inspection, and that the buyer is purchasing the property as is, without providing pest clearance if Section 1 noted in inspection. Don't have the utilities (water and gas/electric) in working condition when the appraiser does appraisal. Have the purchase ... 10/20/2009

Burlingame Home Commission Rebate $27990 Overview Maps Photos Description Market Stats IDX Search $2,799,000 Single Family Home For Sale Main Features 5 Bedrooms4 BathroomsInterior: 5800 sqft Location 8 La Strada CtBurlingame, CA 94010 HR Dadgar American Dream Realty (510) 395-1267 hr@adrealty.us http://www.fremontagents.com Our recent listings Burlingame Home Commission Rebate $27990Morgan Hill Home Commission Rebate $27500Palo Alto Home Commission Rebate $52950Mountain View Home Commission Rebate $13950San Carlos Home Commission Rebate $13850 Subscribe to our listing feed See more Burlingame, CA real estate for sale 10/13/2009

I have found that many people that many people do not understand how mortgage rates get locked here in Burlingame, California, and in many other areas. As a mortgage broker, I receive mortgage rates from our lending partners every day (sometimes more than once, but that is a story for another post). Each lender has the mortgage rates for each of their programs (30 year fixed, 15 year fixed, etc.) published on a ratesheet.  Most people realize that there are many mortgage rates for each loan program. What they do not realize is that the points charged for the mortgage rates offered vary by the rate lock period. Many lenders base the points charged in 15 day increments. Let's look at an example of mortgage rates for a 30 year fixed rate (these rates are for illustration purposes only, not... 10/07/2009

Recently a friend of mine called me and said that he needed a construction loan to remodel his house in Burlingame, CA. I asked him if he had a construction contract and plans. He said not only did he have those items, he had already started construction!   I asked him why he was calling me now, didn't he already have a construction loan in place? He said no - he was approved for an equity line of credit, but when the lender found out that construction had already started, they could not fund the loan. I told him I would do my best to find him a construction loan, but I could not guarantee anything. Lenders usually do not like to approve a construction loan application after the project has started.  After making several phone calls, I found a bank that was interested in funding this co... 09/30/2009

Are you interested in mortgage refinancing in Burlingame CA?  I have great news! Mortgage refinancing can now be customized to closely match the term of your current mortgage.  You may not want a mortgage refinancing because you are thinking "Oh great, I have been paying on my 30 year mortgage for three years, now I am going to start over with a new 30 year mortgage!" You don't want to start over. You don't want to turn back the clock. Here is the new mortgage refinancing solution for this problem: customized loan terms. Let's look at an example. Suppose you have paid on your 30 year mortgage for three years, as above. You notice that interest rates are less than what you are paying on your current mortgage, so you are contemplating a mortgage refinancing. Instead of obtaining a 30 year... 09/23/2009

The OLA Fun Faire takes place this weekend. The theme this year is Ireland By The Bay. The times are Friday September 18th from 6 to 10, and Saturday September 19th from 2 to 10. There are all kinds of fun activities for all ages. For the kids, there are rides, rock climbing, and bunjee jumping. In addition, there are all kinds of game booths for the kids to enjoy. For the parents, there will be a silent auction, a tasty Irish dinner, and plenty of beverages to keep you cool during what should be a very warm weekend. I hope to see you at the OLA Fun Faire this weekend! 09/18/2009

Here is a list of open houses in Burlingame Ca for the weekend of September 12th and 13th 2009.   150 Newton Drive, $3,249,000 - open Sunday 1:30 -4:30 110 Los Robles Drive $3,190,000 - open Sunday 2-4 106 Los Robles Drive $2,850,000 - open Sunday 2-4 8 La Strada Court $2,799,000 - open Sunday 1-4 310 Pepper Avenue $2,600,000 -open Sunday 1-4 1417 Cabrillo Avenue $2,398,000 - open Sunday 2-4 1316 Drake Avenue $2,395,000 - open Sunday 1:30 - 4:30 113 Los Montes Drive $2,295,000 - open Sunday 2-4 2305 Ray Drive $2,095,000 - open Sunday 2-4 2414 Hale Drive $2,095,000 - open Sunday 1:30-4 407 Occidental Avenue $1,699,000 - open Sunday 1:30-4 1820 Montecito $1,498,00 - open Sunday 2-4 1811 Sebastian Drive $1,460,00 - open Sunday 2-4 1301 Mills Avenue $1,400,000 - open Sunday 2-4 1262 Balboa ... 09/11/2009

 Burlingame AYSO has its opening weekend this Saturday and Sunday, September 12th and 13th. Festivities start off with the annual parade at Burlingame High School. If you haven't been to the parade, you are in for a treat!   Burlingame AYSO brings in local dignitaries, such as the mayor, council members, and local religious leaders to kick off the parade with speeches. The Burlingame High School cheerleaders are present to cheer on the young soccer players. There's a lot of action happening on and around the football field. However, the real action is behind the football field, where our young athletes line up for the parade! Kids chasing their buddies, dogs chasing kids, and coffee drinking parents trying to keep 6 year olds lined up in a straight line while they wait there turn to ent... 09/08/2009

A Burlingame business networking group was recently formed in June, 2009. It is under the auspices of BNI, the largest business networking group in the world. The goal of this group is to pass referrals to business owners that we know, like, and trust. If you are unfamiliar with BNI, here is a little bit of information for you. The networking group meets weekly. During the meeting there is an opportunity to network with members and guests. Each person is also allowed to give a 30 to 60 second "infomercial" about their business and the type of people they would like to meet. Only one person per occupation is allowed in each chapter. There is an intial fee to join, and monthly dues are charged to cover the costs of the meeting room and meals. Guests are encouraged to attend our networking... 08/19/2009

Are you looking at homes for sale in Burlingame? Burlingame is a very desirable area to live. Here are some tips for you if you are planning on financing with a loan the purchase of one of the Burlingame homes for sale. Although many of the homes for sale in Burlingame are valued for more than one million dollars, there are plenty of homes that sell for less than this amount. A 10% down payment is required for conventional financing with a purchase price up to $810,833. This sale price will allow an agency jumbo loan of up to $729,750. An agency jumbo loan is a loan that can be purchased from the lender by Freddie Mac or Fannie Mae.   If you need to borrow more than $729,750, then you will need to obtain a jumbo loan. Here in August, 2009, the jumbo loan market has become more accessibl... 08/18/2009

I read a blog post today on Cyberhomes blog (an excellent website and blog, by the way). It's latest post is titled "Searching For Good Mortgage Brokers" . In the post, the author writes, "For people who worry about finding a reputable broker (e.g., one who won't steer you into a loan with hidden exorbitant fees so he can collect higher compensation), there's a website you can try." The website is called upfrontmortgagebrokers.com. This is the website for the Upfront Mortgage Brokers Association (UMBA). The home page of the website states that it was "founded for consumer advocacy" a noble goal. It also states on the home page "Most professional associations are formed to further the interests of the individuals forming the organization. Members of UMBA are mortgage brokers whose intere... 08/14/2009

If you are looking for a Burlingame mortgage, I can help you. I have been originating loans since 1985. Our company, RMC Real Estate Loans, is located in the heart of downtown Burlingame, on Burlingame Avenue, which will make it convenient for you to obtain your Burlingame mortgage. Our company is a mortgage brokerage, which means that we are not tied to the programs of just one lender. Instead, we have wholesale relationships with lenders such as Bank of America, Wells Fargo, and Citimortgage, and many others. These relationships we have will enable us to quote you attractive terms from a variety of lenders for your Burlingame mortgage. You might be saying to yourself, "why should I call a mortgage broker to obtain a Burlingame mortgage? I can just call the banks myself." Yes, you can ... 08/05/2009

So you have decided to put your property up for sale, now it is time to meet with your favorite realtor. Be very careful when setting the price point, be realistic in what you expect to get at end of closing.  Be very careful examining the comparable properties in your neighborhood. Investigate the type of repairs made; consider closing costs by using a net sheet, etc. Your realtor should never over-quote what the real market price is just to get the listing, because he will never be able to sell your property for more than the offer received by the highest bidder. Work out a schedule with your realtor in advance as to when you'd like to go over how your listing is performing compared to the competition including unique visitors and open houses. Reports should be provided to sellers on ... 01/06/2009

This past week the City of Burlingame had 54 houses for sale.  The Median price was $1,484,444 (an unlucky number in Chinese numerology).  The average price, which is always higher than a median was $1,595,334.  The least expensive house for sale last week was for $695,000, a Short Sale, and it's now a pending sale.  Believe it or not, this is good new, kind of... The median price has gone up but so has the average number of days on the market it is taking to sell that house which is 99! Almost half of the houses listed have seen a price reduction.  You may wonder why Realtors seem to get price wrong and let me tell you it is an inexact science and changes by the minute and is something for a later post. Now, this data is from last week, and I just went on the MLS to see what, if anyth... 12/20/2008

It's pretty easy to be lulled to sleep by your option ARM loan. You probably know the rate is adjustable, but you don't pay too much attention because you also probably know the minimum payment only changes once per year. Wake up! You need to know several important components of your option ARM. There may be a reason to explore refinancing sooner rather than later. The first thing you need to check is the date your loan started. The easiest way to find this out is to check with your mortgage advisor. If he is a good one, he will have this info on his database. The date of inception is important because, generally speaking, the lender will re-cast the payment at the end of each five year increment of the loan. Re-casting means re-calculating the payment (usually it is a very large increa... 06/27/2008