Santa Clarita Valley Real Estate

The Federal Reserve this week reduced the federal funds rate to a range of zero to 0.25 percent. The rate cut likely will not impact 30-year, fixed-rate mortgages. The real impact will be on consumer loans tied to the prime rate, such as home-equity lines of credit and credit cards with variable interest rates. Borrowers with loans tied to the prime rate may see an interest rate decrease. To read the full story, please click here: http://www.usnews.com/blogs/the-home-front/2008/12/16/-6-things-to-know-about-the-fed-rate-cut.html

The Cancer Project promotes cancer prevention and survival through a better understanding of cancer causes, particularly the link between nutrition and cancer. Through research, education, and advocacy, we are saving lives. Learn more here: http://www.cancerproject.org/index.php Learn how to cure yourself, from doctors that promote healing, not treatment: Founded in 1985, the Physicians Committee for Responsible Medicine (PCRM) is a nonprofit organization that promotes preventive medicine, conducts clinical research, and encourages higher standards for ethics and effectiveness in research. http://www.pcrm.org/index.html

We hope you and your loved one’s are deep into the holiday sprit, and if not you’ll be there after reading this special invitation. Please join Weichert Realtors, Hoshaw & Associates in helping those Santa Clarita families in need. We’re currently hosting a local food and book drive, at our Valencia office. Simply drop off books and/or packaged food and we will get them over to our local charitable organization “The Hunger Defense Fund” Tax Id #03-0391642 (all donations are tax deductible). The Hunger Defense Fund is dedicated to reaching out to the needy families among our valley by providing food, clothing, and personal hygiene supplies in the most effective way possible. With overhead costs of only 1%, 99% of donations go toward assisting others in need. It's a simple "Hand Up" that can make a big difference. You don't have to go far to find hungry men, women, and children. Just outside our doors there are people struggling daily to put food on the table. Seni

FHA 203(K) rehab financing for Purchase and Refinance transactions. This government sponsored rehab program is a perfect for the purchase and rehab of of bank owned properties. FHA 203(k) renovation financing provides homeowners a cost-effective way to live in their dream home. And it gives homebuyers the opportunity to purchase properties in need of improvement. This is accomplished with a permanent mortgage that allows you to purchase or refinance a home and then immediately begin the renovation - all with just one application and one closing. The FHA 203(k) loan is a fully disbursed loan which allows a borrower to purchase or refinance a property and finance the cost of rehabilitation with one loan. Because it is fully disbursed at closing, the 203(k) loan can be insured by HUD as soon as the loan closes. The mortgage amount for these loans is based on the projected value of the property with the work completed, taking into account the cost of the renovation. Advantages of FHA 203

If you are behind in your mortgage payments, you may be contacted by individuals or companies that will offer to help you work out a loan modification with your lender or provide other services to you in order to help you prevent a foreclosure on your home. You must be very careful if you are asked to pay for any of these services in advance, whether in cash, check or by charging your credit card. First, California Civil Code Section 2945, which regulates "foreclosure consultants", forbids anyone who falls under the definition of a “foreclosure consultant”, as well as a real estate licensee, from collecting any advance fees for these types of services if a Notice of Default has been recorded against your property. If your lender has recorded a notice of default, do not pay an advance fee to anyone. There are non-profit agencies that can assist you without charging you a fee and real estate brokers who can represent you for a fee to be paid after they have completed their work

Hope you had a nice Thanksgiving weekend, rates are almost at 45 year lows, not seen since August of 2003, when 30 year fixed rates were below 5.0%. I want to give you an update on rates and a couple of changes that are taking place regarding the conforming limits. As to rates, they are still on the downswing…but as we all know…subject to rise quickly should any positive economic news is broadcasted ! One thing we must remember when talking rates is that there are some nice savings on loan fees and your interest rate is improved when your FICO credit score is over 700. These rates today are for borrowers who are A+ rated. 30 year conforming fixed rates (up to $417,000). Currently at 5.25% - 5.375%, although for a couple points, you can have 4.875% (haven’t seen these rates for nearly 5 years!) 30 year conforming/jumbo ($417,001 to $729,750…only until the end of the year). Currently at 5.5% - 5.625%. 15 year fixed rates (up to $417,000). Currently at 4.875% to 5.0% 15 year conformin g