Mortgage & Money Blog

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Sorry that I am still working on it, and crafting jewekry is my hobby to make something beautiful. My hands may be much smarter than my brain because I did many mistakes in my life, and some are truly painful.

Christmas is over! New Year is coming? After over 2 years housing bubble burst, most buyers are confused and wait and see what happens next. Sellers are in pain and finally released it is not their term any more, house prices have been dropping, and will still drop more? When it will bottom out? No one knows. But you cannot afford to wait forever because no one knows it will recover too. All you learn from newspaper are TV, and Internet is relative and old news. So you are working, paying taxes, without home, it is always good to buy. And just need to get a fair deal. No one will offer you a house for nothing. If you are investors, you will find good deals everywhere, just cannot get a good rate at this economical environment. So you need professionals who know what to do.

So check out and give us a chance to compete, you will be happy to know us at the end, I promise you! Happy New Year!

It is Christmas Eve! I should be happy, right? I am worry about many things because my daughter is going to graduate within 2 years, and I am going to retire within 15 years! US economy looks bad in next 5 years after 8 years Corp greediness! People may think that they are fine now, because they did not see whole picture yet! Viewing from bottom of well, sky is limited. I am taking these 4 days to think about next move that I should have!

Is US in recession? You judge!

http://money.cnn.com/magazines/fortune/fortune_archive/2007/12/24/101935724/index.htm?postversion=2007122406

We still need thinking possitive, and keeping hope!

Happy hoildays!

Jenni

http://money.cnn.com/magazines/fortune/fortune_archive/2007/12/24/101939724/index.htm?postversion=2007121703

Jenni

FYI-I was trying to help my customer to get HELOC fast because they have to go India within 2 weeks. Since I cannot broker HELOC this faster during holiday season, refinancing needs 3 extra business days. I called around people I know in local bank, I found one with prime rate! I told my customers that this should be a mistake because most banks offer prime plus 1% for investment property. Turn out that was true, but it is only up to 80% CLTV. So call me if you need that HELOC from investment property. I do not get paid, so do not worry about that I am trying to get your business or making money.

JR 

FYI to all, Many of you have questioned me recently on any rumors about possible increases in the loan limits which I have relayed my doubts on, but here is an official word on the matter that I wanted to pass on.

OFHEO: No Change to Conforming Limit
American Banker (11/28/07) P. 3; Sloan, Steven
The Office of Federal Housing Enterprise Oversight has announced that the conforming loan limit will remain at its current level of $417,000 in 2008. In light of ongoing home-price declines, the agency decided not to raise the maximum amount on mortgages that can be purchased by Fannie Mae and Freddie Mac. The limit was last changed three years ago.

Jenni

Fed cut rate twice this year, long-term mortgage rate jumped twice too. Why? Reason is very simple! Cutting rate dropped US dollar value, oil price surged! it increases inflation risk!

http://money.cnn.com/2007/10/31/news/economy/fed_rates/index.htm?postversion=2007103116

http://money.cnn.com/2007/10/31/markets/dollar_fed/index.htm?postversion=2007103115

http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-20641699.htm

JR

I think following esimate is still too positive to me. If US dollar can not hold it value, conforming 30 year fixed mortgage rate will be close to 7% in 2008.

http://money.cnn.com/2007/10/17/real_estate/mba_forecast/index.htm?postversion=2007101705

JR

I heard about prosper.com from NPR back April. I know that eloan's CEO is founder, and I liked concept. I started on 4/13/07, now I have 36 loans, made $165--by put $3,000 slowly. There are more lenders than borrowers. Yes, a couple people paid late (< 15 days), but no default so far--lucky me. I am making 17% of interests. One borrower paid off 90% of loan and another one paid off 50% of loan within 5 months.

If you are interested in, I will email you details. Or share your story.

JR

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I am more orrry than joy. I agree at least 80% of what following guy said.

http://www.commodityonline.com/news/topstory/newsdetails.php?id=2791

Mr. Bernanke know most economy dats than all of use. So he must have good reasons to do such a risk move.

Please feed back if you have time.