Active Rain BBQ at Magnolia Park (correction)

I’m reposting this correction mainly because Citizen Rain shows titles and a few leading sentences of Seattle area blogs.  I had bad info on the post I did late last night.    I see my previous title is not reflecting the correction and I certainly don’t want to send RE bloggers to the wrong park!

This should be pretty fun.  So far, Active Rain is showing 31 attendees and the weather is perfect!

Latest issue of Homes and Money

My "paper newsletter" will be hitting the streets soon.   I produce a newsletter that is mailed three times a year (I give my readers a break for the holidays at end of the year).    This summer issue covers:

  • The Subprime Meltdown
  • Pet Safety Tips for Summer
  • What is a Blog?  (Hopefully if you’re reading Mortgage Porter, you know you’re reading a blog).
  • Regular featured info, such as "What’s New with Rhonda" … all the latest tid bits on my personal life.   TMI for sure!

Last but not least, a reminder for readers to take advantage of their free credit report and selecting Equifax for your report.  (Since there are three bureaus to select from…and my newsletter comes out three times a year…why not use it as a reminder to check your credit?

If you would like to receive my newsletter, Homes and Money, drop me a line with your name and address.   I’m more than happy to add you to my mailing list.

Memorial Day

In honor of the fallen men and women who have served our country, Mortgage Master is closed today to observe Memorial Day.   

We will re-open for business as usual on Tuesday, May 29, 2007.’

Here are some photos from when we went to DC during Spring Break of 2004.

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News Flash

KOMO-4 just interviewed me at my office regarding subprime loans.   You can watch the interview tonight during their 6:00 p.m. broadcast.   

Update:  Here’s a link to the video.   Don’t blink…you might miss me!

I’m an April Fool

Vows11This April Fools is my first anniversary with my husband, Rob.   We were married in St. Helena, California at Harvest Inn near Napa.   We were suppose to have an outdoor ceremony next to vineyards. However, due to rain (I guess it followed us) we were married indoors underneath an "exit" sign.   I was thankful Rob didn’t look up and read the sign.   He could have bolted for the door!

April Fools also marks my first day in the mortgage business.  I "retired" from fourteen years in title and escrow industry and began my mortgage career at Mortgage Master seven years ago.   I must admit, I was hesitant to become a Mortgage Planner.   In the title and escrow business, you typically spend an hour with the consumer towards the end of transaction when they’re signing.   Often times, the buyer or seller may be feeling pressure even under the most ideal transactions. Buying or selling a home is not something most people do everyday and there is a lot of money at stake. 

I also did not have the have the highest opinion of loan originators.   A majority of the borrowers that I would sign did not understand their loan program and would expect escrow to explain it (this needs to be done by the Loan Originator well before your signing loan documents).   

I have learned so much in these past seven years.   It’s incredible.   And of course, the industry continues to evolve and new programs and products emerge.   My father in law, Bob, is Chairman of Mortgage Master and retired in his young 70’s just a few years ago!   This is a wonderful career.  I’ve had the opportunity to help hundreds of families with buying homes, restructuring their mortgages and debts or financing their goals.   If I have my way, I’ll have my mortgage practice as long as Bob did (he still receives phone calls from clients).

I guess I take some pretty crazy leaps on the first day of April!   Maybe this year, I’ll try bungee jumping or sky diving?

Humor and Taxes

Mpj031686800001 With April 16 rapidly approaching, the phone calls and emails from clients begin to really pick with with questions about their tax deductions.  I recommend using a CPA to help you with your taxes, especially if you’re itemizing (which you need to do in order to deduct mortgage interest).    Here are a few links you may find  helpful regarding mortgage income tax deductions:

Your Home as a Tax Shelter: Top Ten Tax Deductions for Owning Your Home

10 Real Estate Tax Breaks You Should Know

IRS Publication 530/Tax Information for First Time Homeowners

IRS Publication 936/Home Mortgage Interest

Now…a little humor to lighten this post up a bit.

"The only difference between a tax man and a taxidermist is that the taxidermist leaves the skin."  Mark Twain

"The hardest thing in the world to understand is the income tax."  Albert Einstein

"The purpose of a tax cut is to leave more money where it belongs: in the hands of the working men and working women who earned it in the first place."  Robert Dole

If you find you’re getting a nice big return back on your income taxes, you may want to consider adjusting your withholding by increasing your exemptions.  Again, this is a matter to discuss with your CPA.   There’s no reason to give the Government an interest free loan of your money when you can be taking home a little extra each month…just my 2 cents!

Spring Forward

Mpj030935400001Just a friendly reminder that Daylight Saving Time is early this year.   You will need to "spring forward" at 2:00 a.m. on Sunday, March 11, 2007.  Or, just reset your clocks before you go to bed tonight.

The Times…They ARE a Changing

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For the first time ever in my career, I had to contact a client to tell them that the Good Faith Estimate that I had provided him earlier today is no longer valid.   This is a person who was getting ready to buy a condo utilizing an 80/20 and stated income.  His mid credit score is above 750.

I received an email just after 7:00 p.m. tonight from Greenpoint Mortgage (more of an “alt-a” than a subprime lender) stating that all 80/20 mortgages must be funded by the end of this month.    Regardless of how high the credit score is or even if the loan is “full doc”, Greenpoint, along with many lenders, is pulling in the reigns tight.   

Just another warning to double check your preapprovals if you’re planning on buying zero down, stated income, interest only…even if you’re not considered subprime.