Luxury Rental Mortgage?

Investor Loans 

Non Owner Occupied for Single Family or Duplex

Loan Amount up to One Million Dollars

Up to ten total properties owned 

Must Qualify with Federal Income Taxes

35% Cash Down Payment

Terms and Conditions apply 

Call to see if you Qualify

30 Year Fixed Rate 

Low Rates, FICO driven pricing

Buy luxury property, buy beach

rentals and finance them Thirty Year

Fixed Rates 

C. G.

(949) 784-9699

Organic Milk Shortage

organic baby cow

Cattle ranch next to my place Caroline Gerardo September 2012

                                                                  Have you noticed in the grocery store the shortage of organic milk?
Whole Foods, Albertson's and Trader Joe's in Orange County California have signs up that they have shortages of organic milk, and sometimes organic cheese. When I ask the checkers why - they didn't have an explanation. I did, however, research and it is about the demand. Americans, especially in Orange County and areas with higher income are choosing organic over added hormones, added pesticides and cheaper milk.

Perhaps we ought to buy stock in organic food production? Just saying.

I only buy organic produce, most comes from my local Farmer's Market. Produce that is local and organic at the La Paz farmer's market is often less expensive than fruit and vegetables sprayed with chemicals. I don't drink a great deal of milk, but my teenage son does and I want him to be healthy.

If I posted photographs of muddy gross milk cow farms that are mass production, you would have turned away. The photo above is a baby Brown Swiss cow and below is a working ranch in Wyoming.

Happy Merry Lovely

Caroline Gerardo Senior Loan Officer NMLS #324982 Cell 949-637-8190 Office 949-784-9699 eFax 855-883-4303 CarolineGerardo@eaglehm.com http:www.eaglehomemortgage.com/carolinegerardo/ Committed to Seeing You Home. Eagle Home Mortgage 8105 Irvine Center Drive Suite #500 Irvine CA 92618 NMLS #849059 CA #813I609 Universal American Mortgage Company of California, dba Eagle Home Mortgage of California. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. RMLA #4130383, NMLS #252392. Certain restrictions apply. This is not a commitment to lend. Applicants must qualify.

No More Flip this House with FHA

I'm taking a hatchet to the flippers.
Those guys with the television shows,
the books on how to get rich flipping
the house of the foreclosed borrower,
the guy with the thousand dollar seminar.

Mine government says no more.
FHA loans will not be allowing the
90 day flip rule anymore.

First time home buyers, FHA buyers
who have little money for down payment or
repairs have been the most likely to buy a
flipped home.

I've heard many a sad story from buyers
of flipped houses.
The house was a meth lab before the flip.
Everything leaks,
nothing is guaranteed
and the new buyer is
stuck not with a pretty
home, but the money pit...

Federal Housing Administration’s Property Flipping Waiver ENDS

Federal Housing Administration’s (FHA) Office of Single Family Housing announced that the temporary waiver of FHA’s regulation that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition, expires on December 31, 2014.  Very little notice, so if you have a house under contract that is a flip you will not be able to close a FHA loan after 1/1/2015 if the contract is dated in 2015.

The waiver applies to all sales contracts executed on or after February 1, 2010, until 11:59 PM, December 31, 2014. FHA deems a sales contract to be executed when all parties to the contract have signed the contract, and the contract is enforceable under the law of the state the property is located. Mortgages that are made on properties in which sales contracts have been executed after 11:59 PM, December 31, 2014, are not eligible for a waiver of the regulation prohibiting property flipping. FHA will not extend the waiver beyond December 31, 2014, no more flip this house 

Section 203.37a(c) lists the sales transactions exempt from this rule. The exempt transactions include sales by HUD of real estate owned (REO) properties under HUD’s regulations in 24 CFR part 291, sales by other federal agencies of REO properties, sales of properties by nonprofit organizations that have been approved to purchase and resell HUD REO properties, sales by state- and federally-chartered financial institutions and government sponsored enterprises (GSEs), and, upon announcement by HUD through issuance of a notice, sales of properties in areas designated by the President as federal disaster areas. The regulation, including its exemptions, is still in effect.

Quick Links and Resources

· Review the Federal Register Notice (Docket No. FR-5397-N-05), “Federal Housing FHA Government loans”, news November 29, 2012 at http://www.gpo.gov/fdsys/pkg/FR-2012-11-29/pdf/2012-28918.pdf

Fat Check for FHA

FHA' s new fat check $ 30 million

HUD write’s itself a blank check on the backs of American Borrowers.

FHA is in the black, in fact they are profitable but they stuck

this thirty million dollar charge in 2015 and God knows 

how much in the future hidden in Senate Bill 2438.

The Senate never voted on the bill, there in the fine print is an 

okay to charge on your back what looks like a four percent surcharge. This is one fat check.

A mere forty dollars per one hundred thousand sounds small

 but not when you do the math. 

In three years it will be nearly a billion dollar bonus to all the 

management of the federal Housing Administration. 

They claim they need new software, but cough cough.

Don't worry, it will only make your mortgage cost more.

Call your Senator and put squash on big spending

for government jobs, unless of course you can 

grab one. 

Wouldn't we all like a starting salary of $155,500? 

Then pay yourself an unlimited bonus…

Full text of Senate Bill 2438 here https://www.congress.gov/bill/113th-congress/senate-bill/2438 

Caroline Gerardo

opinions are my own