How to save your money: Webinar invitation
Posted On: July 22nd, 2011 by James Posted In: Financial Health
“Establishing your cash reserve: the first step to financial safety”
Join James Adair from Portland Home Loan for a Webinar on July 28: 12:15-12:50 (during your lunch hour)
Space is limited.
Reserve your Webinar seat now at:
YES! I WOULD LIKE TO REGISTER FOR THE WEBINAR
What exactly will we discuss? Continue Reading – How to save your money: Webinar invitation
What To Do If You Are Underwater On Your House
Posted On: June 15th, 2011 by James Posted In: FHA Mortgage • Financial Health • Mortgages • Refinancing
Many of us are finding ourselves living in homes worth less than we paid to purchase them (myself included). Some of us purchased with a down payment, to find that equity we started with evaporating at what seems to be an alarming and relentless clip. Some of us purchased with little or no money down and feel stuck in a home that cannot be sold for what is owed on it. These are troubling times for the recent home owner – and many of us need more than a mortgage 101. But I’m here with a message of hope. I recently met with a young woman who purchased a home with zero down in 2007 for $225,000.00 and bought with a fixed rate INTEREST ONLY product (meaning: she still owes $225 against it). She wanted to see what a refinance would look like for her. I told her to Continue Reading – What To Do If You Are Underwater On Your House
FHA Streamline: How to Qualify
Posted On: June 4th, 2011 by James Posted In: FHA Mortgage • Financial Health • Government Actions • Mortgages • Refinancing
I should have subtitled this post: “Why you might NOT Qualify”
The FHA mortgage continues to be one of the most popular mortgages in Portland. The reason for this is undoubtedly its FLEXIBILITY. The FHA loan is the easiest to qualify for, requires the least amount of cash, has the lowest credit requirements, allows for gift funds on the down payment, allows for non-occupying co-borrowers to fully count towards the DTI, the list goes on. But once you’ve GOT the FHA loan in place, the flexibility continues!
For one, the FHA loan is always “Assumable”. This means that when you want to sell your home, you can also offer your mortgage to be assumed by the buyer (provided they qualify with the lender, etc). Imagine how much value that might have in 5 or 10 years when rates are at 7%… or maybe the 30 year fixed mortgage won’t even EXIST in a decade?! Continue Reading – FHA Streamline: How to Qualify
Low Rates and the Return of Private Mortgage Insurance (PMI)
Posted On: May 17th, 2011 by James Posted In: Financial Health • Mortgage Insurance • Mortgage Programs • Mortgage Rates • Mortgages • Portland Real Estate • Refinancing
Its happening again. Rates are tumbling and tumbling more. I read recently that avoiding closing costs in a declining rate environment is a wise approach and I completely agree. By avoiding closing costs two things happen:
1. The net benefit of the improved cash flow is immediately realized, and
2. You are in a position to refinance AGAIN as rates continue to slide. Because you haven’t paid any of your equity there is not much downside.
I’ve been making loans since 2003, and rates have pretty much always been really attractive with a few exceptions (sorry purchasers of the summer of 2006! I hope you’ve refinanced out of your 6.625% fixed). Continue Reading – Low Rates and the Return of Private Mortgage Insurance (PMI)
Free Resources for Divorcing Couples in Portland, Oregon
Posted On: April 24th, 2011 by James Posted In: Financial Health • Refinancing
If someone you know is contemplating a divorce, do them a favor and send them a link to this blog post. Helping families in a divorce is one of my core services as a mortgage professional. I can help families get their finances and debts clarified and organized, as well as help them make clear decisions about what their options are with any real estate holdings. Not only have I been specially trained in analyzing real estate, liabilities and credit and how they apply to a divorcing family, but I also offer a FREE online resource for divorcing couples in Portland called “Divorce Shield”.
The divorce shield service is a completely free, anonymous website where you can download a customized plan for yourself that will highlight the specific decisions you will have to make.
Visit my site to DOWNLOAD YOUR DIVORCE SHIELD PLAN today.
Continue Reading – Free Resources for Divorcing Couples in Portland, Oregon
