Refinancing to Cash Out your Ex-Spouse

If you’re a homeowner who is going through a divorce or a dissolution of domestic partnership, there are some things to know about using the equity from your home to “cash out” your ex-spouse.

When someone uses a refinance to take equity out of home to provide to ex-spouse, lenders will make an exception and treat the transaction as a “limited cash-out” refinance instead of “cash out” refinance. This provides slightly better pricing with the interest rate and may allow for a higher loan amount, if needed. [Read more…]

The Fed’s Announcement Yesterday and how it impacts Credit Cards

Yesterday the Fed (FOMC) wrapped up their two day meeting deciding to leave the Fed Funds rate unchanged.  How does this impact you?

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Reduce your mortgage payment AND improve your your home with a refi

Recently I helped some clients refinance their mortgage on their home in Tacoma. Not only did we dramatically reduce their monthly mortgage mortgage payment, they were able to make some improvements to their home. [Read more…]

Recent Interview in the Seattle Times about Seattle Homebuyers

I’m honored to have been quoted in the Seattle Time‘s yesterday in Katherine Khashimova Long’s article “Autumn of heartbreak for home shoppers as Seattle-area prices hit new record highs”. My quote wound up being a tid-bit in the article and I thought it would be interesting to share some of the points that we discussed during the interview. [Read more…]

FHFA delays Refi Tax until December 1, 2020

The Federal Housing Finance Agency that oversees Fannie Mae and Freddie Mac (conventional lenders), has announced they are delaying the “adverse market fee” until December 1, 2020.

There was significant balking across the mortgage industry when the FHFA announced the fee back on the evening of August 12th which effectively went into effect immediately on new refi’s (since it’s based on when loans are delivered to Fannie Mae or Freddie Mac). This was essentially a 0.5% tax on mortgage lenders existing pipelines – some loans in the pipeline were not able to have the 0.5% hit factored into the pricing of the interest rate. [Read more…]

Mortgage Rates continue to DROP

Freddie Mac released their weekly mortgage rate survey showing that mortgage rates have continued to drop are at record lows. [Read more…]

New Mortgage Programs!

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Mortgage Rates Drop Lower

20190627pmmsFreddie Mac released their weekly mortgage rate update, Prime Mortgage Market Survey, which illustrates just how low mortgage rates have dropped recently. [Read more…]