Caroline Gerardo Barbeau
NMLS 324982
(949) 784-9699
©️ copyright
Licensed by the California Department of Business Oversight under California Law
Equal Housing Lender |
We are happy to advise you on home loans of all types.
We welcome your questions
1/28/2013
Caroline Gerardo Contact
Caroline Gerardo Barbeau
NMLS 324982
(949) 784-9699
©️ copyright
Licensed by the California Department of Business Oversight under California Law
Equal Housing Lender |
We are happy to advise you on home loans of all types.
We welcome your questions
1/26/2013
1/24/2013
Photoelectric Smoke Alarms
$12.99 Can save your life Buy Smoke Alarm here today
I had
a devastating fire in my home in the West Nine Laguna Niguel, California in 2003. I returned home after
work to find the yellow police tape lines around my front door and piles of
charred wreckage. This incident has left me with a fear of fire during the night.
Every month I test our smoke detectors and annually change the batteries
before I put up the Christmas tree.
At Laguna Niguel preview today I learned valuable information from Bill Parker, of Home Inspection Services that my older ionization alarms might not be good enough or fast enough to warn us to wake up and get out in a fire.
At Laguna Niguel preview today I learned valuable information from Bill Parker, of Home Inspection Services that my older ionization alarms might not be good enough or fast enough to warn us to wake up and get out in a fire.
I
purchased four photoelectric alarms today
because they detect smoldering fire, and smoke much faster than the ionization
type. They cost two dollars more. I’m suggesting you don’t throw away your
older battery powered smoke alarms in each bedroom and each floor level, but add the
photoelectric ones in every bedroom. California law requires sellers of homes
to add carbon monoxide detectors. These can be mounted behind doors that are
usual left open during the daytime to not have quite so many additional white
plastic Frisbees in your bedrooms.
You
may have the type that is hard wired into the home’s electrical system. Smoke
alarms are powered by battery or they are hardwired. If the smoke alarm is
powered by battery, it runs on either a disposable 9-volt battery or a
non-replaceable 10-year lithium (“long-life”) battery. A backup battery is
usually present on hardwired alarms and may need to be replaced. You might need
assistance in installing the newer hard wired alarms, but I’m pretty handy and
there are videos on utube to do everything from install a new toilet to making
rocket fuel. I am not suggesting you are a licensed contractor or have the
skill set to take this on yourself, but it isn’t difficult.
These batteries must be tested on a regular
basis and, in most cases, should be replaced at least once each year (except
for lithium batteries).
A few tips on housekeeping:
Test the alarms monthly, Replace the batteries
at least once per year. The entire smoke alarm unit should be replaced every 8 years.
The ionization alarms are sensitive to shower
steam or cooking smoke where the photoelectric ones are not. Statistics on
deaths in fires show that even though an alarm was present, often the unit did
not sound off because of dead battery or disconnected alarm because of the
constant screaming sound when they fry food, or their teen takes a thirty
minute shower.
( In a smoldering fire, a photoelectric smoke
alarm outperforms the ionization type by sounding much quicker.. The other
reason is that ionization smoke alarms will outperform photoelectric alarms in
the event of a fast moving fire. The faster reaction time can be measured in
tens of seconds, but in the event of a fast moving fire, these are precious
seconds. )
Smoke alarms are an inexpensive investment
and can save your family’s life.
$549,000. Single Family Home Deal
Listed by Manuel and Judy here is more information: Manuel Adame MLS # s720598
Downfalls of the property:
Traffic noise as is fronted on a busy street with no curbs and gutters. Eventually one would expect the city will make the neighbor properties that have subdivision maps recorded put in the curbs gutters and sidewalks. City Planning may require the owners on both sides to complete it through... a major lawsuit was won by the neighbor against the city regarding installing drainage which is underway today. Subject house needs: new roof ( cost estimate: $9000- 10000) paint inside and out (cost $5000) french drain and grading to the rear of the house (estimate: $ 8000) one can assume as in everywhere in Orange County there are termites and dryrot (unknown total cost guess: $4500) I might also assume or guess that property will be off septic and able to tie in when the neighbors move their construction along. PS must love the sound of roosters in the morning :) $ 549,000. fixer house for sale Orange County California
chain link fence installed in front of failed wooden fence
Big driveway is gravel compacted. Two car garage
Rear yard. A small backhoe could widen this area, move the retaining wall back three feet, add french drain underneath to flow out around the house. Gas lines appear to be in the front, but contact gas company and county for other lines
hillside slope of neighbor property
view of subject from up gravel driveway
another slope view
gas meter by mailbox
I love San Juan Capistrano. The house has a view of the San Juan Capistrano Valley, mountains and an ocean peek view. Old town San Juan has become charming and many historic houses have fabulous gardens and Spanish architecture. You can walk to trails, walk to Old Town or Main San Juan for dinner. This could be a charming single family home, with $27,500 it needs to make it comfortable, and $ 20000 in fountains and landscaping. OR hold it until the neighbors build the tracts with one to two million dollar houses next door. OR get a zoning variance to make it something commercial. I think it is a deal for someone with creativity. The bargain is in having $150000. cash for the 20% down plus the repairs needed.
Orange County California real estate deals as of 2/10/2013 this property is still for sale. Was in escrow and fell out.
1/19/2013
10 Sendero Single Family Home $564900.
I met Missy Wiesen at her listing on at 10 Sendero, Rancho Santa Margarita, California. This home is a great buy. The curbside appeal is inviting with a three car garage and Italian columns to welcome you into the front door. The downstairs has warm laminate to feel like hardwood flooring. New paint, new carpet a gorgeous fountain built into the backyard. Four yes 4 bedrooms - pretty granite counter tops all priced at $ 564,900. Please contact Missy at her email realtormissy3@yahoo.com or her phone (949) 887-6644 her DRE license is #01745112 She will be holding it open house tomorrow - Sunday January 20th 2013
Go make an offer!
1/11/2013
Easy HARP Refinance
 |
| sunset at beach boy with skim board |
Refinance HARP is a Walk on the Beach With C. G.
Refinance
for Upside down Borrowers
1.
Fannie Mae or Freddie Mac must own or
guarantee the loan
2.
The mortgage MUST have been sold to Fannie
Mae or Freddie Mac on or before May 31, 2009, this means you most likely would
have needed to close on or before May 1st as it takes about a month
to get there and there are no exceptions to the date.
3.
The mortgage CANNOT have been refinanced
under HARP previously unless it is a Fannie Mae loan that was refinanced under
HARP from March-May, 2009.
4.
No Loan to Value restrictions, no appraisal
5.
The borrower MUST be current on the mortgage
at the time of the refinance, with no late payment in the past six months and
no more than one late payment in the past 12 months.
6.
You have a reasonable ability to pay the new
mortgage payments, it must make sense.
7.
The refinance improves the long term
affordability or stability of your loan, i.e.: the payments have to go down.
8.
If you have Mortgage Insurance it does not go
away.
9.
No new MI policy however if say your loan has
no MI
10. Have
to show income on W-2 and Tax returns
11. Cost upfront to find out: $ 24 (credit report $14 per borrower)
12. CONDO’s are eligible and often NO condo
certificate is required.
Call
Caroline at (949) 784-9699
This is not a commitment to lend nor loan approval each individual is different, but these are pretty easy if you are employed and you made your payments. The idea is to save those who want to stay in their home and can make it going forward - not always so "easy."
Let’s
look up your loan to see if Fannie or Freddie “owns” it and talk about what we can
save you in monthly payments
1/09/2013
USDA Mortgage Loans Zero Down Payment
 |
| Blue sky |
Blue Skys with a USDA Home Loan
No money down, finance the costs, apply direct
Caroline Gerardo (949) 784-9699 NMLS 324982 Equal Opportunity Lender
USDA Guaranteed
Rural Housing Loans No Money Down, call and ask how you can buy a home with
$450.00
USDA Guaranteed Home Mortgage Loans are the most common type of USDA Loan in California and allow for higher income limits and 100% financing for home purchases. USDA Guaranteed Loan applicants may have an income of up to 115% of the median household income for the area. Area income limits for this program can be viewed here. All USDA Guaranteed Loans carry 30 year terms and are set at a fixed rate.
USDA Guaranteed Home Mortgage Loans are the most common type of USDA Loan in California and allow for higher income limits and 100% financing for home purchases. USDA Guaranteed Loan applicants may have an income of up to 115% of the median household income for the area. Area income limits for this program can be viewed here. All USDA Guaranteed Loans carry 30 year terms and are set at a fixed rate.
USDA Direct Housing Loans are less common than USDA Guaranteed Loans and are only available for low and very low income households to obtain home ownership, as defined by the USDA. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI.
What
factors determine if I am eligible for a USDA Loan in California?
To be eligible for A USDA Rural Loan in
California, your monthly housing costs (mortgage principal and interest,
property taxes, and insurance) must meet a specified percentage of your gross
monthly income (29% ratio). Your credit background will be fairly considered. A
620 FICO credit score is required to obtain a USDA Rural Housing Loan
approval through most lenders. You must also have enough income to pay your
housing costs plus all additional monthly debt (41% ratio). These ratios can be
exceeded somewhat with compensating factors. Applicants for loans may have an
income of up to 115% of the median income for the area. Maximum USDA Guaranteed
Loan income limits for your area can be found at: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?About
Maximum USDA Direct Loan income limits
for your area can be found at their website. Families must be without adequate
housing, but be able to afford the mortgage payments, including taxes and
insurance. Some of these income numbers are suitable for wage earners at the
lower end of the spectrum.
The maximum amount for an USDA home loan is determined
the area (the address you are purchasing).
Maximum Dollar
Amount Per Loan
There is no written maximum loan amount
allowed for USDA Rural Home Loans.
Instead, a borrower’s debt-to-income ratios dictate how much home they are
allowed to purchase (29/41 ratios). Additionally, total household monthly income
must be within USDA allowed maximum income limits for your area. Maximum USDA
Guaranteed Loan income limits do limit the total dollar amount per area that
the subject property resides.
Maximum financing:
The maximum USDA Rural Development Loan
amount is 102% of the appraised value of the home (100% plus the 2% USDA RD Loan guarantee fee).
How
much money will I need for the down payment and closing costs?
USDA Rural Development Mortgage
Loans require no down payment and they allow for the closing costs to be
included in the loan amount (appraisal permitting) A borrower may have to pay
for only up front credit and appraisal fees of $450.
What
property types are allowed for USDA Rural Loan Mortgages?
While USDA Mortgage Guidelines
do require that the property be Owner Occupied (OO), they do allow you to purchase
condos, planned unit developments, manufactured homes, and single family
residences
|
County Name
|
1-4 Person
Households
(Guaranteed Loans) |
5-8 Person
Households
(Guaranteed Loans) | ||
|
ALAMEDA
|
1,094,625
|
1,094,625
| ||
|
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN
DIVISION
| ||||
|
ALPINE
|
503,750
|
1,094,625
| ||
|
NON-METRO
| ||||
|
AMADOR
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
BUTTE
|
417,000
|
1,094,625
| ||
|
CHICO, CA (MSA)
| ||||
|
CALAVERAS
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
COLUSA
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
CONTRA COSTA
|
1,094,625
|
1,094,625
| ||
|
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN
DIVISION
| ||||
|
DEL NORTE
|
417,000
|
1,094,625
| ||
|
CRESCENT CITY, CA (MICRO)
| ||||
|
EL DORADO
|
516,000
|
1,094,625
| ||
|
SACRAMENTO–ARDEN-ARCADE–ROSEVILLE,
CA (MSA)
| ||||
|
FRESNO
|
417,000
|
1,094,625
| ||
|
FRESNO, CA (MSA)
| ||||
|
GLENN
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
HUMBOLDT
|
417,000
|
1,094,625
| ||
|
EUREKA-ARCATA-FORTUNA,
CA (MICRO)
| ||||
|
IMPERIAL
|
417,000
|
1,094,625
| ||
|
EL CENTRO, CA (MSA)
| ||||
|
INYO
|
417,000
|
1,094,625
| ||
|
BISHOP, CA (MICRO)
| ||||
|
KERN
|
417,000
|
1,094,625
| ||
|
BAKERSFIELD, CA (MSA)
| ||||
|
KINGS
|
417,000
|
1,094,625
| ||
|
HANFORD-CORCORAN, CA (MSA)
| ||||
|
LAKE
|
417,000
|
1,094,625
| ||
|
CLEARLAKE, CA (MICRO)
| ||||
|
LASSEN
|
417,000
|
1,094,625
| ||
|
SUSANVILLE, CA (MICRO)
| ||||
|
LOS ANGELES
|
737,500
|
1,094,625
| ||
|
LOS ANGELES-LONG BEACH-GLENDALE, CA
METROPOLITAN
| ||||
|
MADERA
|
417,000
|
1,094,625
| ||
|
MADERA, CA (MSA)
| ||||
|
MARIN
|
1,094,625
|
1,094,625
| ||
|
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA
METROPOLITAN
| ||||
|
MARIPOSA
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
MENDOCINO
|
417,000
|
1,094,625
| ||
|
UKIAH, CA (MICRO)
| ||||
|
MERCED
|
417,000
|
1,094,625
| ||
|
MERCED, CA (MSA)
| ||||
|
MODOC
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
MONO
|
575,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
MONTEREY
|
525,000
|
1,094,625
| ||
|
SALINAS, CA (MSA)
| ||||
|
NAPA
|
643,750
|
1,094,625
| ||
|
NAPA, CA (MSA)
| ||||
|
NEVADA
|
518,750
|
1,094,625
| ||
|
TRUCKEE-GRASS VALLEY, CA (MICRO)
| ||||
|
ORANGE
|
737,500
|
1,094,625
| ||
|
SANTA
ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
| ||||
|
PLACER
|
516,250
|
1,094,625
| ||
|
SACRAMENTO–ARDEN-ARCADE–ROSEVILLE,
CA (MSA)
| ||||
|
PLUMAS
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
RIVERSIDE
|
417,000
|
1,094,625
| ||
|
RIVERSIDE-SAN
BERNARDINO-ONTARIO, CA (MSA)
| ||||
|
SACRAMENTO
|
516,250
|
1,094,625
| ||
|
SACRAMENTO–ARDEN-ARCADE–ROSEVILLE,
CA (MSA)
| ||||
|
SAN BENITO
|
937,500
|
1,094,625
| ||
|
SAN
JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)
| ||||
|
SAN BERNARDINO
|
417,000
|
1,094,625
| ||
|
RIVERSIDE-SAN
BERNARDINO-ONTARIO, CA (MSA)
| ||||
|
SAN DIEGO
|
593,750
|
1,094,625
| ||
|
SAN
DIEGO-CARLSBAD-SAN MARCOS, CA (MSA)
| ||||
|
SAN FRANCISCO
|
1,094,625
|
1,094,625
| ||
|
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA
METROPOLITAN
| ||||
|
SAN JOAQUIN
|
417,000
|
1,094,625
| ||
|
STOCKTON, CA (MSA)
| ||||
|
SAN LUIS OBISPO
|
610,000
|
1,094,625
| ||
|
SAN LUIS
OBISPO-PASO ROBLES, CA (MSA)
| ||||
|
SAN MATEO
|
1,094,625
|
1,094,625
| ||
|
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA
METROPOLITAN
| ||||
|
SANTA BARBARA
|
656,250
|
1,094,625
| ||
|
SANTA BARBARA-SANTA
MARIA, CA (MSA)
| ||||
|
SANTA CLARA
|
937,500
|
1,094,625
| ||
|
SAN
JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)
| ||||
|
SANTA CRUZ
|
805,000
|
1,094,625
| ||
|
SANTA CRUZ-WATSONVILLE, CA (MSA)
| ||||
|
SHASTA
|
417,000
|
1,094,625
| ||
|
REDDING, CA (MSA)
| ||||
|
SIERRA
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
SISKIYOU
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
SOLANO
|
435,000
|
1,094,625
| ||
|
VALLEJO-FAIRFIELD, CA (MSA)
| ||||
|
SONOMA
|
566,250
|
1,094,625
| ||
|
SANTA
ROSA-PETALUMA, CA (MSA)
| ||||
|
STANISLAUS
|
417,000
|
1,094,625
| ||
|
MODESTO, CA (MSA)
| ||||
|
SUTTER
|
417,000
|
1,094,625
| ||
|
YUBA CITY, CA (MSA)
| ||||
|
TEHAMA
|
417,000
|
1,094,625
| ||
|
RED BLUFF, CA (MICRO)
| ||||
|
TRINITY
|
417,000
|
1,094,625
| ||
|
NON-METRO
| ||||
|
TULARE
|
417,000
|
1,094,625
| ||
|
VISALIA-PORTERVILLE, CA (MSA)
| ||||
|
TUOLUMNE
|
417,000
|
1,094,625
| ||
|
PHOENIX LAKE-CEDAR RIDGE, CA (MICRO)
| ||||
|
VENTURA
|
650,000
|
1,094,625
| ||
|
OXNARD-THOUSAND OAKS-VENTURA, CA (MSA)
| ||||
|
YOLO
|
516,250
|
1,094,625
| ||
|
SACRAMENTO–ARDEN-ARCADE–ROSEVILLE,
CA (MSA)
| ||||
|
YUBA
|
417,000
|
1,094,625
| ||
|