Mortgages Made Simple with Rick Gundzik

Friday, May 9, 2008
The Fed Lowers Rates, What Does it mean to me? - May 9, 2008
The Fed lowered interest rates .25% last week. What does this do for you? Unfortunately a lot of people, the media included, often think this means mortgage rates drop immediately. Mortgages Made Simple logo Usually the opposite is true. Mortgage rates will jump up then slowly settle down in a couple weeks.

In this episode we discuss the Fed, give you more information about how they affect the economy then you would ever care to know and plead for your questions. We know you have questions so call our listener line and we'll put you on the show. Call the Listener Line at(714) 519-7833 and leave your question.




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posted by Pac Res @ 8:27 AM   0 comments
Sunday, May 4, 2008
Buying a Home, is Now the right time? - May 4, 2008
Is this the right time to buy a home? It might just be. Homebuilders are still building, the economy is slow but still humming along and homes are more affordable now due to the drop in values. Mortgages Made Simple logo It is a big step to take, but with 'REPO' Buses running around, the current low may be at hand. Outlying areas of California have declined in price as much as 48% with the national average home price declining almost 20%. The last big decline in home values in 1991 saw home values decline 20% as well.

This could be the bottom. If not, at least you will get a good deal on your new home.



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posted by Pac Res @ 10:28 AM   0 comments
Sunday, April 27, 2008
Loan Modifications, Do they really happen - April 25, 2008
Loan Modifications have become a hot topic lately due to the subprime crisis, but are they the proverbial leprechaun with a pot of gold, or that elusive shooting star? We actually know two people that were offered incredible loan modifications from their lender. Mortgages Made Simple logo The interesting thing in both cases was neither were subprime borrowers and both were contacted by their lender. And one was our Co-host/producer. We'll tell you their stories and....

If you're not feeling so lucky, you can contact your lender and ask for a loan modification. With a lot of persistence you can get it done. For a brief list of lenders who are more likely to help you out please email us.



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posted by Pac Res @ 9:23 AM   0 comments
Sunday, April 20, 2008
Title Insurance and being "In Escrow" - April 20, 2008
The phrase "You're in Escrow" always throws people into a tailspin. What is it, does it hurt, does it last long?Mortgages Made Simple logo We explain what it is, what to expect and what is involved with escrow. In this encore episode, we also discuss Title Insurance and explain why you need it and what it protects you from.



Show notes:
Escrow information from RealEstateABC


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posted by Pac Res @ 11:35 AM   0 comments
Sunday, April 13, 2008
Home Equity Loans, Are they good for you? - April 13, 2008
Home Equity Loans, are they good for you? This week we explain Mortgages Made Simple logoWhat a Home Equity Loan is. With the Federal Reserve dropping interest rates, it automatically lowers interest rates on home equity loans that are based on the prime rate. This can save you money if you are able to take advantage of a home equity loan. Is it better to get a fixed rate or adjustable rate. Are they expensive, do they save you money, are they a good financial tool. Where is the best place to get one? We answer these questions and more.

And we give you a quick comparison of PMI versus MIP.



Show Notes: HELOC = Home Equity Line Of Credit, PMI - Private Mortgage Insurance
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posted by Pac Res @ 10:33 AM   0 comments
Sunday, April 6, 2008
Reverse Mortgages - April 6, 2008
Reverse Mortgages have received a lot of attention lately. Mortgages Made Simple logoIn this encore episode we discuss Reverse Mortgages. What are they? Is it a good option for retirement? Are there any downfalls?

And we answer a recent question we received, what happens to your loan if your mortgage company goes out of business.



Show Notes: AARP - American Association of Retired Persons
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posted by Pac Res @ 12:58 PM   0 comments
Sunday, March 30, 2008
Junk Fees - What are all these loan fees?- March 30, 2008
A mortgage can be very expensive, on this edition we discuss Mortgages Made Simple logoJunk Fees. What are these unnecessary fees and how do you avoid them on your home loan. You can save hundreds of dollars if you see one of these fees on your loan paperwork and simply ask your loan officer to remove it. Junk fees, Garbage fees, whatever they call them, they're not needed.

Also we answer a listener's question about escrow impound accounts. Then we give a quick definition of equity.





Show Notes: Impound accounts are monthly payments for your property taxes and homeowner's insurance.

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posted by Pac Res @ 10:30 AM   0 comments

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