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Another memo showing how The Talon Group is stepping up to the plate during these historic times in our industry for their previous clients:
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I just love to share some good news. Group hug? |
Archives for September 2007
More good news from Talon Title
Go Hawks!
Breast Cancer 3 Day Marathon in Seattle
Larry Swanberg is my friend and co-worker at Mortgage Master. Today he is a marathoner finishing up the last leg of the Breast Cancer 3 Day (60 miles over three days) which happens to be in my neighborhood of West Seattle. He is walking in honor of Tammy, his wife who lost her battle with breast cancer a few years ago.
This marathon is full of heroes and stories. Breast cancer touches so many lives. In our office alone, we have Michelle who is bravely battling this disease and Mary who has recovered. We lost Tammy (Larry’s wife) who was once a Mortgage Professional at Mortgage Master. I have family and friends who are fighting as well: Michelle, Suzy and Vianne.
I set my alarm early this morning so I could be out on sidewalk cheering the marathoners on. One of my neighbors did a fabulous "cheer station" including mini bags of M&M’s and plenty of pink decor.
The participants are a very entertaining group. It was a parade of pink with bras, boas, beads and bikers! We are lucky to have beautiful weather today. Hopefully it won’t be too hot for this brave spirited group by the time they reach Memorial Stadium where the marathon wraps up.
I’m proud of Larry, the courageous (fun!)marathoners and the brave people battling cancer.
Andrew Will’s 2005 Release Party on Vashon Island
This was our first time being invited to Andrew Will on Vashon Island. It was a perfect day…how can you beat the weather and a short ferry trip to Vashon Island? We weren’t sure what to expect at Andrew Will…it was delightful.
We sampled 5 new 2005 releases (which is a stellar vintage for Washington wines BTW). And throughout their compound, they had wonderful snacks from salty olives, breads, cheeses and salads to brick oven pizza cooked right before our eyes. There was a one-man-techno-band that seemed to work in with the laid back atmosphere. And did I say we tasted the 2005 releases?
Andrew Will is normally not open to the public. I highly encourage you to get on their mailing list so you can enjoy a day such as this!
To cap it all off, we uncorked a bottle of 2005 Two Blondes to enjoy with my husband, his brother and sister and law who live on Vashon before heading back to West Seattle.
Mount Rainier from Vashon Island.
Get your free issue of YOU Magazine
September’s issue of YOU Magazine is now available and features the following articles:
- The Short Sale – A Viable Alternative to Foreclosure
- How to Ask for a Raise
- Body Language 101 (you might need to read this BEFORE you ask for a raise!)
- Olive Oil (including recipees featuring EVOO)
- Creating a Home Office
And so much more!
I’m still working on my latest issue of e-Mortgage Porter, an emailed monthly newsletter. If you would like to receive an issue in your email in-box, just let me know.
Mortgage Master is approved for FHASecure!
UPDATE: EFFECTIVE ON FHA CASE NUMBERS ISSUED AFTER DECEMBER 31, 2008, THIS PROGRAM IS NO LONGER AVAILABLE.
Since Mortgage Master Service Corporation has been a FHA endorsed lender since our inception, we are also approved for FHASecure. This program is designed to help home owners who after their non-FHA ARM resets, have become delinquent.
Here's more info:
- The mortgage being refinanced must be an adjustable rate mortgage that has adjusted (reset). The mortgage being paid off cannot be a FHA mortgage.
- The home owners mortgage payment 6 months prior to the reset must show no instances of making late mortgage payments.
- Missed mortgage payments may also be included in the new loan (subject to having enough available home equity).
- The reset of the non-FHA ARM monthly payment must be what caused the home owners inability to make their monthly payments.
- The home owner needs to qualify for the new FHA mortgage (have sufficient income and resources per FHA guidelines).
- Loan amounts are subject to current FHA Loan Limits
- Subordinate financing (non-FHA second mortgage) is allowed if the new FHA loan is not enough to pay off the existing first lien, closing costs and arrearages.
- Expanded loan to values up to 97.75%.
- Payment-to-income-ratio and debt-to-income-ratios remain at 31/43.
- FHA upfront and monthly mortgage insurance applies.
- Loan applications must be signed no later than December 31, 2008.
This program is not intended for home owners to stop making their mortgage payments once their ARM adjusts. In fact, this is straight from the HUD Mortgagee Letter 2007-11:
"FHA reserves the right to reject for insurance those mortgage applications where it appears that a loan officer or other mortgage employee suggested that the homeowner could stop making their payments…"
I'm pleased to be able to offer this program and thankful that Mortgage Master has maintained their status as a HUD Approved Mortgagee.
The best option is to refinance prior to your ARM adjusting (before you're delinquent). As always, I suggest that you contact your Mortgage Professional if your ARM is scheduled to adjust within two years or less in order to make sure you're in the best position possible to refinance.
The Talon Group supports Children’s Hospital
Here’s a memo that I just received from the Talon Group, the local title and escrow company that I prefer to use:
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It’s nice to have some good news from the real estate industry! |
Larry Cragun’s Magnificent 7 for August
Once again, I’m honored to be included with the other nominees of Larry Cragun’s Magnificent 7. The post receiving Larry’s nod is one that I wrote in early August at Rain City Guide, If your loan ain’t vanilla, you may be in for a rocky road.
If you’re looking for some excellent consumer content, you may want to visit Larry’s site, Real Estate Undressed, to check out his recommendations.
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