Mortgages Made Simple with Rick Gundzik
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| Thursday, July 31, 2008 |
| Housing Relief Bill, Will it help You - July 31, 2008 |
We have received a ton of inquiries about this bill, so we decided to post this encore podcast for those who can't find it. There were a few changes in the final bill signed by the president, but nothing earth shattering. The best part of the bill is the tax credit for home purchases. This latest economic stimulus type Bill has the following three goals: 1. Help distressed homeowners, 2. Tax credit for First time homebuyers and 3. Permanently increase Fannie Mae loan limits to $625,000. 
The most shocking provision of the Bill requires lenders to reduce a borrower's loan balance to 85% of the home's appraised value. The distressed borrower will then be able to refinance to an FHA loan.
The tax credit for first time homebuyers will be $7,500. However, it will only be eligible for homes purchased from April 9, 2008 until July 1, 2009. And finally, it will increase loan limits to $625,000 to try and keep the high cost states humming along.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: bad credit, credit repair, equity, fed, federal reserve, fico, finance, home, housing prices, interest rates, investment, loan, loans, money, mortgage, mortgage rates, mortgages, podcast, podcasting |
posted by Pac Res @ 7:29 AM   |
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| Thursday, July 24, 2008 |
| Mortgage Payments and Stated Income Loans - July 24, 2008 |
Will the Housing relief bill help? This week we answer a listener's question whether or not the new housing bill will help him. We also had another listener ask us why he just can't seem to get a loan to buy a house. He has perfect credit, makes good money, and is putting in a big down payment. But he is self employed and his income is seasonal, high in the summer and low in the winter. He is a perfect candidate for a stated income loan. However, those loans do not exist anymore.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: credit, equity, fannie mae, fed, federal reserve, fico, finance, home, housing prices, indymac, interest rates, investment, loan, loans, money, mortgage, mortgage rates, mortgages, podcast, podcasting |
| posted by Pac Res @ 7:14 AM |
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| Tuesday, July 22, 2008 |
| Best Places to live 2008 - July 22, 2008 |
CNNMoney pulls out their list of Best Places to Live 2008. This is the latest compilation of the best places to live in the U.S. They even have a nifty table to search your own criteria. I'm partial to California, so now I have to move to Irvine? I'll stick with North OC for now.
The top 10 are:
1 Plymouth, MN
2 Fort Collins, CO
3 Naperville, IL
4 Irvine, CA
5 Franklin Township, NJ
6 Norman, OK
7 Round Rock, TX
8 Columbia/Ellicott City, MD
9 Overland Park, KS
10 Fishers, IN
Best Places to Live
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: best places, credit, equity, fannie mae, fed, federal reserve, fico, finance, home, housing prices, interest rates, live, loan, loans, money, mortgage, mortgage rates, mortgages, podcast, podcasting |
| posted by Pac Res @ 3:02 AM |
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| Thursday, July 17, 2008 |
| Indymac, Fannie, Freddie and You - July 17, 2008 |
This week brought the collapse of Indymac Bank. Their collapse wreaked havoc in the financial markets, but it can have a greater effect on individual depositor's stress levels. This could be witnessed in the unnecessary bank run on Indymac this week. Many people do not realize they should not keep more than $100,000 in any bank. Insurance only covers up to $100,000 in deposits, any amount over that is negotiable to as low as 50 cents on the dollar. But for those who have a smaller amount on deposit, don't worry, you will get every penny back.
We also discuss Fannie Mae and Freddie Mac's current troubles and why they are so important to the housing market.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: credit, equity, fannie mae, fed, federal reserve, fico, finance, home, housing prices, indymac, interest rates, investment, loan, loans, money, mortgage, mortgage rates, mortgages, podcast, podcasting |
| posted by Pac Res @ 7:11 AM |
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| Thursday, July 10, 2008 |
| Housing Relief Bill, Will it help You - July 10, 2008 |
The House of Representatives recently passed the Housing Relief Bill. This latest economic stimulus type Bill which must still pass the Senate has the following three goals: 1. Help distressed homeowners, 2. Tax credit for First time homebuyers and 3. Permanently increase Fannie Mae loan limits to $625,000.
The most shocking provision of the Bill requires lenders to reduce a borrower's loan balance to 85% of the home's appraised value. The distressed borrower will then be able to refinance to an FHA loan.
The tax credit for first time homebuyers will be $8,000. However, it will only be eligible for homes purchased from April 2008 until April 1, 2009. And finally, it will increase loan limits to $625,000 to try and keep the high cost states humming along.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: bad credit, credit repair, equity, fed, federal reserve, fico, finance, home, housing prices, interest rates, investment, loan, loans, money, mortgage, mortgage rates, mortgages, podcast, podcasting |
| posted by Pac Res @ 7:19 AM |
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| Saturday, July 5, 2008 |
| Top Places to live from CNNMoney.com |
Even though the list is from 2007, it's an interesting compilation of the best places to live in the U.S. They even have a nifty table to search your own criteria. I'm partial to California, so maybe Claremont is the place to be.
The top 10 are:
1 Middleton, WI
2 Hanover, NH
3 Louisville, CO
4 Lake Mary, FL
5 Claremont, CA
6 Papillion, NE
7 Milton, MA
8 Chaska, MN
9 Nether Providence (Wallingford), PA
10 Suwanee, GA
Best Places to Live
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: bad credit, credit repair, equity, fed, federal reserve, fico, finance, home, housing prices, interest rates, investment, loan, loans, money, mortgage, mortgage rates, mortgages, podcast, podcasting |
| posted by Pac Res @ 10:17 PM |
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| Thursday, July 3, 2008 |
| Low Rates versus Low Prices - July 3, 2008 |
This week we help out a listener who couldn't get a straight answer to a simple question.....Is it better to buy when interest rates are low or house prices are low? Our listener asked several people, but unfortunately, this industry is still full of inexperienced people who don't know a 30 year T-bond from a Fannie MBS. Fortunately we want you to be armed with knowledge so you get the best loan possible. We answer this question in depth and take a quick step on the soapbox about the real estate industry.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: bad credit, credit repair, equity, fed, federal reserve, fico, finance, home, housing prices, interest rates, investment, loan, loans, money, mortgage, mortgage rates, mortgages, podcast, podcasting |
| posted by Pac Res @ 7:31 AM |
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| Thursday, June 26, 2008 |
| FHA Loans, 2nd Homes and Rental Homes - June 26, 2008 |
FHA loans can be the greatest thing since sliced bread for some people. A buyer can receive gift funds, use a non-occupying co-borrower and put less money down than on your typical home loan. These are great loans for 1st time homebuyers or just about anyone who needs a little extra push to buy a home.
We also answer a listener's question regarding the difference between a 2nd home and an investment property. There are different qualifications, interest rates and a few other things we discuss that you need to be aware of.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: 2nd home, bad credit, credit repair, equity, fed, federal reserve, fico, finance, home, housing prices, investment, loan, loans, money, mortgage, mortgages, podcast, podcasting, renovation, rental |
| posted by Pac Res @ 8:04 AM |
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| Thursday, June 19, 2008 |
| Housing Equity and Short Sales - June 19, 2008 |
The Federal Reserve released their latest report on Housing prices across the country. It reported homeowners have lost a combined $880 billion over the last 12 months. But it's not as bad as it sounds, we'll tell you why.
We also answer a listener's question regarding Short Sales. We explain how they work and why you need patience if you're involved in one.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: bad credit, credit repair, equity, fed, federal reserve, fico, finance, home, housing prices, loan, loans, money, mortgage, mortgages, podcast, podcasting, renovation, short sale, upgrade |
| posted by Pac Res @ 7:53 AM |
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| Thursday, June 12, 2008 |
| Recessions and Housing Prices - June 12, 2008 |
Are we in a Recession??? Technically no, but a lot of people feel like they are. With gas prices up and housing prices down, psychologically people feel poorer. So this tends to create a slow down in consumer spending. A full blown recession does not appear likely, but a commentator I like to read, John Mauldin, prefers to call it a "muddle through economy." By this he means we will meander our way through a period of no meaningful growth in the economy. This isn't good by any means, but not the doom and gloom some people are predicting. And in an election year, a recession would be devastating for the Republican party.
We also discuss how a recession affects housing prices and give you some buy versus rent examples. Then we give you a few more ideas on buying a home today.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Labels: bad credit, credit repair, fed, federal reserve, fico, finance, home, home auctions, housing prices, loan, loans, money, mortgage, mortgages, podcast, podcasting, renovation, upgrade |
| posted by Pac Res @ 7:34 AM |
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| Thursday, June 5, 2008 |
| Credit Reports and REO's - June 5, 2008 |
When you're getting ready to buy a new home, what's the first thing you think of......? Your credit report is correct. Three or four months before you begin shopping for a home you should get a copy of your credit report. This will help you save time in the long run for two reasons. First you will know exactly how your credit looks and second you will have plenty of time to fix any errors or information you didn't expect to find on your credit report. And if there are any errors you can start fixing them yourself by using the links below.
We also discuss the current REO(Real Estate Owned) market in California as it shows signs of life with a rapid increase in activity. Many real estate agents are receiving mulitiple offers on homes due to reduced prices. This activity will help stabilize home prices throughout California.
If you have any questions you would like us to answer on our show, please call our listener line at 714-519-7833 or email mortgagepodcast@gmail.com.
Show Notes:
Annual Free Credit Report
Experian
Equifax
Transunuion
Labels: bad credit, credit repair, fed, federal reserve, fico, finance, home, home auctions, housing prices, loan, loans, money, mortgage, mortgages, podcast, podcasting, renovation, upgrade |
| posted by Pac Res @ 7:47 AM |
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Helping you to understand mortgages and get the best home loan possible. |
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