mortgage newport beach

Get The Lowest rate ­

Being Approved For A MORTGAGE LOAN SIMPLE STEPS

Photographs of the beach and ocean in Newport today! ­

Sky filled with colorful clouds in Big Corona, Corona Del Mar, California I am so blessed to take twenty minutes off and eat my lunch watching the ocean. My mortgage loan office is in West side Newport Beach. I spoke on the telephone with a client making calculations on my HP 12C then took these photographs with my iphone. How lucky I am! 2012 ­

• Competitive rates and fees • An extensive product line • Prompt communication, feel free to call us anytime • Service that continues after your loan closes As your Loan Consultant I'll work with you every step of the way. W J Bradley Mortgage Capital LLC. Caroline Gerardo Barbeau C. G. Barbeau 20341 SW Birch St Suite 330 Newport Beach, California 92660 (949) 637-8190 cell

FREE CONSULTATION BEFORE YOU APPLY (949)784-9699

Start the financing process with a free consultation. I suggest we fine tune your credit before you need to close, as FICO score determines a piece of the pricing. Next we will review comparable sales in your target property and look at the net income you show on Federal Tax returns in the past years.

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Confidence, honesty, security, in your own home. NMLS# 324982 (949) 637-8190

Costa Mesa, Dana Point, Laguna Niguel, Lake Forest, Newport Beach, Mission Viejo, California

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HOMEWORK LIST:

Documents You Will Need to Start:   IRS Form 4506-T — signed and dated Pay stubs covering the last 30 days with year-to-date information included (all jobs and applicants) W-2s for the past two years Federal tax returns (1040s) for the past two years Asset / Bank statements — Past two months' statements all accounts & pages no online printout We will discuss explanations for late payments, collections, judgments documentation for any large deposits on asset statements Other Driver's License and Social Security card — legible copies Hazard (Homeowner's) insurance information including agent's name and phone number Purchase contract — signed by all parties (fully executed)   Gross Income Total income earned before taxes and other deductions.      Wells Fargo, Bank of America. J P Morgan Chase make no representations or warranties as to accuracy or completeness of information and assumes no liability for use of this information.

Additional Self Employed Documents.   Federal tax returns (personal as well as business returns) — complete copies for the last 3 years Profit and loss statement — year-to-date List of all business debts

Read my 100 tips to raise your FICO score before you apply. Do not go pull your credit report the report you run may not be the same as a mortgage report. Ask for it for free.

2012 ­

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AT Last One Stop to find a mortgage, be referred to shop for insurance, foreclosures, construction, and home care

“I serve you with knowledge, kindness and attention to detail.” C. G. Barbeau (949) 637-8190

I encourage you to shop for your homeowners insurance annually and review coverage. Most borrowers choose an insurance agent and never change, not realizing if the agent is still handling their policy until they have a claim. Having an agent you trust is important when you have damage. Top home improvement items that increase value for dollar: Adding bedroom or simple bath square footage Front door hardscaping Neutral paint Worst for the dollar: Pool, kitchen, and rear yard because these are expensive and very personal to taste

Thirty Year Fixed Rate Mortgage

Most borrowers today want a low thirty year fixed rate mortgage. Perhaps this is the very best choice for you. It is useful to look at certain life conditions that may fit this theory: stability and no surprises ahead are the reasons why this is likely the right thing for your family. There is not a great difference between the fifteen and thirty year interest rates, but the payment for a fifteen year is considerably higher. Often you are better off choosing the 30, and making a 15 year payment as long as you are able. Life seems to always bring unexpected changes.   Although much negative press has been distributed about ARM or Adjustable Rate Mortgages, those who chose those today find their rates in the low 3’s and can double up on principle while the rate is low.

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2012­

Conforming, Jumbo, super jumbo, VA, FHA, Construction, Land Loans, Commercial, HOME EQUITY, CASH OUT, No Cashout

“Ask me why I no longer work directly for bank after 22 years being inside: customer service is not in a bank’s plan. Customers for life are my goal.”

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Wine Tasting Invitation to Realtors

To celebrate our new office please contact me
directly for tickets
(949) 637- 8190
C. G. Barbeau

Guacamole Mask?

I read this recipe on Pinterest for an avocado and apricot mask and since I have these in our garden, why not?

After blending the ingredients and applying a lumpy paste to my face, I decided to go back out and pick a lemon, get some cherry tomatoes and chop a red onion very fine. The mask was a total fail, but guacamole with bell peppers and a twist or two, the experiment paid off. When life gives you lemons make guacamole.

2 ripe avocados (save the pits to keep from turning brown fast), Juice of one lemon, Hot sauce to taste, ½ Finely chopped red or Maui onion ,+ eight cherry tomatoes smashed

Fresh Thyme (yes, not cilantro this time) and a tiny bit fresh basil

I cheated and used Lawry’s salt to eat it fast with yellow and red bell peppers

When life gives you a lumpy face make something else.

Italian Lemons in the garden (Sorrento)

Cherry tomatoes growing high enough that Coco can't steal them. (one of our dogs eats all the perfect tomatoes)

Glossary Real Estate Terms G -H

Real Estate Terms LETTER G

GABLE ROOF

Pitched roof with sloping sides

Gabled roof on Pacific Palisades, California house that sold this year

 

GAMBREL ROOF

House sold in Berkeley, California with Dutch Colonial style and Gambrel roof line

 

Curb roof, step lower slope flatter upper slope above

GENERAL LIEN

Lien on all property of a debtor

GIFT DEED

Deed for which the consideration is love and affection

GIRDER

Ground level at the foundation

GRADUATED LEASE

Lease provides varying rental rate- based on a future determination such as periodic appraisals, used in long term leases

GRANT

Conveyance of deed signifies the intent to transfer title of the land

GRANT DEED

Deed in which the word grant is used as the word of conveyance- free from encumbrances

GRANTEE

The purchaser a person to whom the grant is made

GRANTOR

Seller of property who signs the deed

GRI

Graduate Realtors Institute

GRID

Chart used in rating borrower risk, property and neighborhood

GROSS DOMESTIC PRODUCT

Total value of all goods and services produced in an economy at a given time using the local resources

GROSS INCOME

Total income before any expenses

GROSS RATE

Method of collecting interest by adding the total interest to the loan at the start (you pay the interest even if you pay off early)

GROSS RENT MULTIPLIER

Figure when multiplied by gross income of a property produces an estimate of value

GROUND LEASE

An agreement for use of the land only

GROUND RENT

Earnings of the improved property credited to earnings of the ground itself after allowance for earnings of improvements- also called economic rent

H

HABENDUM CLAUSE

“to have and to hold” clause in a deed

HEADER

A beam placed perpendicular to joists & which joists are nailed in framing for a chimney. Stairway or opening

HIGHEST AND BEST USE

Appraisal term at time of appraisal the greatest net return on property over a given period of time, starting point for an appraisal

HIP ROOF

Pitched roof with sloping sides and ends

HOLDER IN DUE COURSE

One who has taken a note, check etc. in due course before it is overdue in good faith and for value without any knowledge that is was dishonored (still good)

HOLDOVER TENANT

Tenant who remains in possession of leased property after the expiration of term

HOMESTEAD

Home upon which an owner has recorded a Declaration of Homestead, protects against some judgments

HUNDRED PERCENT LOCATION

City retail business location that is the best location

HYPOTHECATE

To give a thing as security without the necessity of giving possession of it up

Glossary F

Glossary letter F Real Estate Terms from Mr. Fuddy

FAÇADE

Front of building

FAIR MARKET VALUE

Money paid for property on the open market available for a reasonable time, without pressures to buy or sell

FARMERS HOME ADMINISTRATION

Department of Agriculture gives financing help to farmers and others living in rural areas

FEDERAL DEPOSIT INSURANCE CORPORATION FDIC

Agency of Federal government that insures deposits at commercial banks and savings banks

FEDERAL NATIONAL MORTGAGE=FANNIE MAE

Private mortgage corporation taken over by our government to buy and sell existing mortgage on the secondary market

FEE

An estate of inheritance in real property

FEE SIMPLE

Fee – old English same as Fee Simple absolute is greatest power of owner to sell, trade or will

FIDELITY BOND

A security posted for the discharge of an obligation of personal services

FIDUCIARY

Person in a position of trust and confidence as between a principal and a broker. Broker owes fiduciary loyalty that cannot be broken under the rules of agency.

FILTERING DOWN

Process of making housing available to successively lower income groups

FINANCIAL INTERMEDIARY

Commercial banks, savings banks, mutual savings banks and life insurance companies receive small sums of money from the public and invest them in the form of larger sums, some loaned on real estate

FINISH FLOOR

Finish floor strips are applied over wooden joists , deadening felt and diagonal subflooring before the finish floor is installed- final covering linoleum, tile or carpet…

FIRST MORTGAGE= FIRST TRUST DEED

Legal document pledging collateral for a loan that has priority over all claims but taxes and bonded debts

FISCAL CONTROLS

Federal tax EARNEST MONEY

Down payment made by a purchaser of property as evidence of good faith

FIXITY OF LOCATION

Physical characteristic of real estate influenced by its surroundings (location)

FIXTURES

Appurtenances attached to the land of improvements – plumbing fixtures

FLASHING

Sheet metal or other material to protect a building from seepage of water

FOOTING

Base or bottom of a foundation wall, pier or column

FORECLOSURE

Property pledged is sold to pay the debt

FORFEITURE

Loss of money resulting from failure to perform

FRANCHISE

Privilege awarded by a government or business to have exclusive dealership

FRAUD

Intentional and successive employment of any cunning, collusion used to cheat a person

FREEHOLD

Estate of interminable duration- fee simple or life estate

FRONTAGE

Land bordering the street

FRONT FOOT

Property measurement for sale or valuation purposes- property measures by the front foot on its street line extending to the depth of the lot

FRONT MONEY

Minimum amount to initiate a real estate venture

FROSTLINE

Depth of frost penetration, differs by climate, footings need to be below this line

FUNCTIONAL OBSOLESCENCE

Loss of value by negative factors that affect the utility of the structure

FURRING

Strips of wood or metal to even it, to form an airspace or give appearance of thicker wall

FUTURE BENEFITS

Anticipated benefits the property owner will receive in future

Glossary Real Estate Letter E

EARNEST MONEY

Down payment made by a purchaser of property as evidence of good faith

EASEMENT

Created by grant for a specific purpose, right privilege or interest one party has in the land of another. For right of way

ECOLOGY

The relationship between organisms and their environment

ECONOMIC LIFE

The period over which a property will yield a return on the investment, over and above the economic or ground rent due on the land

ECONOMIC OBSOLESCENCE

Loss in value of real estate caused by factors away from the subject

ECONOMIC RENT

Number of years of age that is indicated by the condition of a structure

EFFECTIVE INTEREST RATE

Percentage of interest that is actually being paid by a borrower for the use of money

EMINENT DOMAIN

Government right to acquire property for necessary public or quasi-public use by condemnation, paying the owner the fair market value- 5^th AMENDMENT Right

ENCROACHMENT

Anything that affects or limits the fee-simple title to the property. Such as mortgages, easements, restrictions

ENDORSEMENT

Signing one’s name on the back of a check or note

EQUAL CREDIT OPPORTUNITY ACT

Federal Law prohibits lenders from discriminating based on sex. Race, color, religion, age amritial status or handicap etc.

EQUITY

Interest or value an owner has in real estate over and above the liens against it

EQUITY OF REDEMPTION

Right to redeem property during foreclosure period

EQUITY SHARING

Where an owner occupant and a non-owner investor pool their money to buy a home- contract

ESCALATION

Lender can increase payments upon the happening of a certain event

ESCALATOR CLAUSE

A clause in the contract providing upward or downward adjustment of items to cover contingencies

ESCHEAT

Reverting the property to the state when heirs capable of inheriting are lacking

ESTATE

Quality of interest, share, right or equity of which riches or fortune may consist in real property

ESTATE OF INHERITANCE

Estate descending to heirs- freehold

ESTATE FOR LIFE

Freehold estate not and estate of inheritance but is held by the life of the tenant for his or her own life or the life of one or more persons- ie: you can live here until you die or your Child X dies

ESTATE FROM PERIOD TO PERIOD

An interest in land with no definite termination date but rents are weekly monthly or annual, also called periodic tenancy

ESTATE AT SUFFERANCE

Estate where tenant wrongfully holds over after expiration of his term. Landlord can evict

ESTATE OF WILL

Occupation of lands and tenements for an indefinite period. Can be terminated by either party- not recognized in California

ESTATE FOR YEARS

Interest in lands by virtue of a contract for the possession of them for a limited time- A LEASE

ESTIMATED REMAINING LIFE

Time period remaining for improvements to become useless

ESTOPPEL

Doctrine bars one from asserting rights that are inconsistent with a previous position or representation

ETHICS

Moral science, idealism, justness and fairness in the duties that a member of a profession owes to the public

EVICTION

Process of law depriving a person of possession of lands

EXCHANGE

IRS CODE 1031 owner trades one property for another to defer income tax

EXCLUSIVE AGENCY LISTING

One agent has specific rights to sell a property for a specific time, but owner can sell without a commission

EXCLUSIVE RIGHT TO SELL LISTING

Written agreement giving agent right to collect commission if anyone buys during the set time

EXECUTE

To complete, perform, sign, seal deliver

EXECUTOR/TRIX

Person named in a will to carry out provisions

EXPANSION JOINT

A bitumous fiber strip that separates concrete to prevent cracking

Glossary Letter D

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Glossary for REAL ESTATE TERMS, prepare for the broker DRE exam
Letter D

DATA PLANT

Appraiser’s file of information on real estate

DEBENTURE

Bonds issued without secuirty

DEBTOR

The party owning the property that is subject to a security interest- mortgagor or pledgor

DEDICATION

Appropriation of land by its owner for some public use by authorized officials on behalf of the public

DEED

Instrument when properly executed and delivered conveys title

DEED RESTRICTION

Limitation in the deed to a property that dictates certain uses that may or may not be made to the property

DEFAULT

Failure to fulfill a duty or promise, omission or failure to perform any act

DEFEASANCE CLAUSE

Mortgage clause that gives the mortgagor the right to redeem his or her property upon the payment of obligations to the mortgagee

DEFEASANCE FEE

Sometimes called a base fee or qualified fee, a fee- absolute interest in land that is capable of being defeated or terminated upon the happening of a specified event

DEFICIENCY JUDGMENT

Judgment when the security pledge for a loan does not satisfy the debt upon its default

DEPTH TABLE

Statistical table used to estimate the value of the added depth of a lot

DESIST AND REFRAIN ORDER

Court order to stop a person from committing and act in violation of real estate law

DEVISEE

One who receives a bequest made in a will

DEVISOR

Person who bequeaths by will

DIRECTIONAL GROWTH

The location or direction toward which the residential sections of a city are destined and determined to grow

DISINTERMEDIATION

A sudden rush of withdrawals from savings banks, commercial banks, and life insurance policies. Financial intermediaries who depend on the regular savings lose billions of dollars as owners of those funds held by institutional lenders exercise their right to remove the money.

DISPOSSESS

To deprive one of the use of real estate

DOCUMENTARY TRANSFER TAX

A state enabling act that allows a county to adopt a documentary transfer tax to apply to all transfers of real estate in the county. Notice of payment is entered on the face of the deed or on a separate paper filed together

DONEE

A person to whom a gift is made

DONOR

The person who makes the gift

DOWER

The right a wife has in her husband’s estate at his death

DUAL AGENCY

When a broker represents both the buyer and seller

Barclay's SHAME

Causes of the foreclosures and the meltdown:
fraud

Will lawsuits follow from consumers against Barclays?

Barclays Chief Executive Bob Diamond ought to be terminated and refund to every homeowner who were fraudlently overcharged based on his and senior executives price fixing on an index that controls interest rates on mortgages on about 90% of all American Adjustable rate loans. (Five Year Seven Year and Ten Year Mortgage rates were manipulated falsely/ increased by this scam.)

Barclays' Bank particular submissions to LIBOR - THE rate compiled daily through a panel of banks quoting the rate at which each bank estimates what they can borrow from one another, in various currencies - were much higher than many competitors.

I would love to read the internal emails and instructional power points that FSA, CFTC were able to view. This certainly is only the tip of the iceberg. Shame on you Bob Diamond