Archive for the ‘Uncategorized’ Category

I have been considering this for some time and have made my decision that it is time to do it.

I am retiring and going to spend my time with my grandchildren and fish as much as possible. I will continue to write my blog posts and hopefully keep everyone up to date on what is happening in the world of mortgage lending.

After being in the lending business for over 30 years and going through some of the toughest times I can imagine, it is time to turn it over to someone with more energy than I have now.

Thanks for your readership and I want to definitely recommend Guild Mortgage Company for your lending needs and wants. The gang in Oak Harbor are consummate professionals. They deliver on their promises. The contact information on the pages will be changing as soon as I can get them done. But, if you have questions, please drop me an e-mail at whidbeyloanguy@rocketmail.com

I do a periodic rate update and analysis of the financial conditions of the mortgage industry for a number of the Realtors® that I work with and now have the ability to share this update with my readers.

If you would like to see what I have to say about rates and economic conditions, follow this link and hopefully you will get some good information. Please remember, the rates quoted are specific to specific qualification. Every person will need to find out what is right for them. Also just for information, the change in rate doesn’t change what I get paid, up or down. This link is just for today’s information, I will post others in the coming weeks.

For instance, a lower closing cost will mean a higher rate and conversely, a higher closing cost will mean a lower rate. You can get the rate and closing costs that work for you with simple transposition. That means you need a quality mortgage consultant, like me!

Contact me

Navigating the mortgage approval process doesn’t have to be daunting. With me on your side those hurdles can be overcome. I am available right now to help you with the loan process and know the ins and outs of FHA, VA, USDA and conventional financing. If you want to buy a home using an FHA loan or refinance using VA, I am here to help. Contact me at Alpine Mortgage Planning, 1200 Executive Pkwy., Ste. 100, Eugene OR 97401, 541-342-7576/541-221-3455 cell or by e-mail. Only you can make the choice it is time to get the process started.

Doing something new for me today, I am going to give a video restaurant review. I had lunch at Café 440 in Eugene recently with a friend and was suitably impressed.

I hope you enjoy this, my first video blog. I promise more to come, also on different subjects. But, as you can see, I do like to eat and I will probably be spicing up the mortgage information with restaurant information too. This one is short, I promise more information in the future.

Now, if you need mortgage help, call the EugeneLoanGuy for the best in service. I am here to help you! 541-221-3455 or fchamberlin@alpinemc.com.

Here is a great tool to determine how long someone must wait until they are eligible to receive a loan after a short sale, foreclosure, deed-in-lieu of foreclosure and/or bankruptcy in the Eugene/Springfield area.

This was put together by a couple of guys that fill in for my favorite video bloggers, Think Big, Work Small, Brian and Frank. So, credit due to Gary Hawkins and Ryan Hills of TheREsource.tv for putting this together. The quality of posting to my blog has suffered, so click on the list and it will take you to Gary & Ryan’s original.

Here is Page 2:

I work with people getting them to the point where they are eligible to purchase a home again. A bad spot on your credit record shouldn’t last forever, and now you can see, it doesn’t, but there are waiting periods. Be ready.

Contact me

Navigating the mortgage approval process doesn’t have to be daunting. With me on your side those hurdles can be overcome. I am available right now to help you with the loan process and know the ins and outs of FHA, VA, USDA and conventional financing. If you want to buy a home using an FHA loan or refinance using VA, I am here to help. Contact me at Alpine Mortgage Planning, 1200 Executive Pkwy., Ste. 100, Eugene OR 97401, 541-342-7576/541-221-3455 cell or by e-mail. Only you can make the choice it is time to get the process started.

I participated in a murder Saturday and it was a lot of fun. Poor Ricky Lee Autrey, he will be missed by the Class of 58. This was a murder mystery dinner theater at the Big K Guest Ranch near Elkton.

The play was sponsored by the Big K and performed by the Poison Pen Players offering audience interaction in determining who the nefarious villain was that offed the hapless Ricky Lee. Of course it was all in fun and the turn out (considering the locale) was very good.

The performances were well done and the music took me back to my high school years. The car made an appearance at the ranch also. It is an very nicely restored 1956 Ford Victoria in a sleek black. I can remember my brother had a 55 Crown Victoria back in those days and they were HOT!.

The Poison Pen Players have other presentations of ‘56 Vicky scheduled, the soonest being this weekend, Mar. 26 at the Florence Events Center. Reservations can be made by following this link. Other performances will be in Coos Bay, Cottage Grove and Eugene.

The Big K Guest Ranch driveway is just a few miles out of Elkton, but then you have a few more miles driving until you reach the resort area. The cabins are nice and well maintained but don’t expect to watch TV in your room. They have TVs but they only have DVD & VCRs for them available at the front desk.

 
If you want, you can also schedule a hunting or fishing trip with the guide service at Big K. Contact them through this link. Oregon has a lot of wonderful places to visit. This is another great one to check out. See you out there.

Mortgage interest deduction is under fire with a proposed change in the tax code that would impact home owners and reduce the value of the deduction.

Although as currently written, the change in code would likely have little effect on most low to moderate income families, as with most changes I doubt it will be long before the change will effect more people. Here is what Save My Mortgage Interest Deduction has to say:

How would the proposal to eliminate the mortgage interest deduction and replace it with a 12 percent nonrefundable tax credit affect a typical home owner?

 

Suppose a home owner paying $10,000 in mortgage interest in a year faces a marginal tax rate of 25 percent and, to keep things simple, has enough other itemized deductions that they would itemize regardless of the mortgage interest deduction.

For that home owner, the mortgage interest deduction is worth approximately 25 percent times $10,000 or $2,500 in reduced taxes paid. With a 12 percent tax credit, the home owner’s tax benefit would be reduced to $10,000 times 12 percent or $1,200.

Moreover, if other proposals affecting housing-related deductions went into effect, home owners would not be able to deduct their state and local property taxes or the interest on any home equity loan they might have and they would pay higher tax on a principal residence when sold.

Awareness of what is happening in the housing arena is always the best way to combat attacks against our industry, and a reduction in the mortgage interest deduction process will have detrimental effects on the housing industry. Check out the NAHB (National Association of Home Builders) website for more information and a call to action.