FHA CHEAPER Streamline Refinance for Cheaper payment

FHA Reduces Single Family 

Annual Mortgage Insurance Premium 

(MIP) 

Rates for 

Most Title II Forward Mortgages

1/12/2015  Federal Housing Administration (FHA) published 

 Reduction of FHA Annual MIP Rates and Temporary Case Cancellation Authority.

 This Mortgagee Letter implements the 50 basis point (0.50%)
 reduction in FHA’s annual Mortgage Insurance Premium (annual MIP) rates for
 most Single Family Title II forward mortgages 
announced by the President Obama on January 8, 2015. 
 This rate reduction furthers the Administration’s and FHA’s 
ongoing goal to prudently expand access to 
mortgage credit for individuals and families across a range of incomes.

SAVE THOUSANDS OF DOLLARS
1/22/2015 FICO 700 30 year
rate 3.875% APR 3.989
costs for a $400000. loan :
streamline no appraisal
Escrow $510 title $510 recording $110
Underwriting and processing $1295
plus prepaid interest, taxes if due and
hazard if due
NEW MIP is lower RATE is lower
Call for a free quote - you might even
be able to go conventional.



SAVE MONEY


LOWER your monthly


payments!



Call me


(949) 637-8190

30 year rates in the 3's

15 year rates in the 2's

Rates change daily
http://eaglehomemortgage.com/carolinegerardo/

The annual MIP rate reduction is effective for FHA
Case Numbers assigned on and after January 26, 2015
for most Title II forward mortgages with amortization
terms greater than 15 years.


Today’s Mortgagee Letter includes a table which shows
the current and new annual MIP rates by amortization term,
base loan amount, and loan-to-value ratio.
The rate reductions have also been incorporated into FHA’s
Mortgage Insurance Premiums table for forward mortgages.
This updated Mortgage Insurance Premiums
table will be integrated into FHA’s
Single Family Housing Policy Handbook (HUD Handbook 4000.1)
 at the next available update.

Temporary Case Cancellation Authority

FHA will temporarily approve Case Number Cancellation Requests for loans with FHA Case Numbers assigned but not yet closed, to allow mortgagees to obtain the reduced annual MIP rates. Mortgagees must submit Case Number Cancellation Requests under this temporary authority using the submission instructions specific to this temporary authority posted today on FHA’s Case Processing Requirements web page.

Mortgagees may begin requesting Case Number cancellations on January 15, 2015, but must submit all Case Number Cancellation Requests under this temporary authority by 11:59 p.m., Eastern, on February 26, 2015. Mortgagees should not order new Case Numbers under this temporary authority until they have confirmed in FHA Connection that the previous Case Number has been cancelled.

What does this mean?

REFINANCE STREAMLINE ANY FHA loan 

started after the MI rates jumped in 2009
Save money monthly on your MIP premium also
mortgage rates are much lower. Reduce your monthly
payment by refinancing sometimes without an appraisal

Call me even if you already

streamlined you may be able to

refi free for lower monthly payment

(949) 784-9699

Loans in process at a bank?

Cancel and come over to lock at today's rates

old MIP rates

assigned on or after January 26, 2015.
Term 15 Years
New MIP
80b s
85b s 100b s
105b s
45b s
70b s
70b
95b s
Base Loan Amt. $625,500
$625,500

LTV
95.00%

Previous MIP
130b s 135b s
150b s
155b s
Term 15 Years
90.00%

45b s 70b s
70b s 95


NMLS #324982

Home Made Bath Fizzie Recipe

lovely soaking tub

Home made bath salt steamer simple cheap and easy
Here is the recipe (recipes)

Rubber ice cube tray works best
Mine I bought in the dollar rack at Target or Daiso
Old cookie sheet
one box  baking soda (1 LB baking soda = sodium bicarbonate)
1 tablespoon corn starch
fresh herbs 20 leaves
1/2 cup water

Choice of oils see #1 #2 or #3

Mix dry ingredients in a bowl
break up any lumps with your fingers

In a small pot boil some fresh mint or rosemary (whatever
herb you have growing and enjoy with about 1/2 cup water
Allow the water to cool and toss the plant material
Rosemary awakens vitality, mint makes happy
keep the green water aside for the end


For the smell you have a couple choices:
#1 the easy cold and cough remedy
Vick's Vapor Rub a tablespoon the
eucalyptus is great for cold or sinus
congestion
Camphor is a cough suppressant and analgesic
menthol is also a cough suppressant and analgesic
Vick's Vapor Rub has petroleum that's a little messy
Blend slowly into the baking soda mix

OR #2 you can make your own cough and cold mix:
1/8 cup coconut oil
10 drops of Eucalyptus Oil
10 drops of Peppermint oil
5 drops of Rosemary oil
Blend slowly into the baking soda mix

Or #3 for a relaxing soothing shower:
1/8 cup coconut oil
10 drops lavender oil or
15 drops of Kneipp lavender bath oil
2 drops of rose oil

I prefer to use organic -
Mountain Rose also has great products

You are mixing one of the three batches
of oils into the dry mix with your fingers

Add drops of the mint water (you may
only need 2 tablespoons it depends on
how humid it is.

The paste should be sticky
It is thick like pastry dough

Press tightly into the ice cube trays
(you can also use tiny cupcake tins
or roll in a ball)

the rubber ice cube trays work well
because you can press out the shapes

If any are messy just push them back
into the ice cube trays and do them over

Place shapes on old cookie tray

Put in oven set to 200 degrees for
five minutes
Turn off heat, let them cool and
dry in the oven

Place in recycled jars (clean jelly
jar, clean olive jar)

Keep lid off to dry thoroughly
for a day. Then close the lid

Paint the lids with nail polish to
label or add a paper note

The shower steamers can be
placed anywhere in the shower.
They melt and the aromatherapy
opens your sinus and makes you
oh so happy.

I decorate mine with a few
dried flowers on the ribbon
for gifts

Prep time: 5 minutes
Nutrition: not edible I have a friend I gave menthol ones to when he had a cold
and he didn't read the instructions and thought they were cookies. EEEWW ucky

Author: Caroline Gerardo
Category: Bath Soaking Herbs

the steamer can be put in the corner of the shower where hot water will hit it

bath relaxation

ice cube molds for my heart love bath steamers

Analgesic, antibacterial, anti-inflammatory, antimicrobial, antiseptic, antispasmodic, aromatic, carminative, cholagogue, deodorant, , insecticide, sedative,

natural oils, relaxing bath, amazing home made, cheap

Baking soda is a natural cleanser for the shower floor.

You may find the oil a bit slippery, you can wipe the floor dry with an

microfiber towel. The multi surface towels plus the steamers will keep the

shower floor clean.

Olde Timey cure for congestion and common cold

these "molds" are from tuna cans- wash them extra thoroughly 

SAVE money FHA CHEAP MIP and rate

Beach Cottage

SURF's up for FHA refinance

U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

WASHINGTON, DC 20410-8000

ASSISTANT SECRETARY FOR HOUSING FEDERAL

HOUSING COMMISSIONER annouced today cheaper MIP premiums coupled with lower

interest rates can save you on your monthly payments

January 9, 2015

To: All Approved Mortgagees 

GREAT GOOD NEWS ABOUT 

FHA MIP REDUCTION

Reduction of Federal Housing Administration (FHA) annual Mortgage

Insurance Premium (MIP) rates and Temporary Case Cancellation Authority

This Mortgagee Letter (ML) communicates lower annual MIP rates for FHA

Title II forward mortgages and provides opportunity for cancellation of

existing case numbers in order to utilize the MIP rates contained in the ML.

Background Pursuant to its statutory mandate, FHA continuously strives to achieve the

appropriate balance between meeting the housing needs of the borrowers

FHA’s mortgage insurance programs were created to serve and minimizing

the level of risk undertaken relative to the insurance of those mortgages.

FHA has determined that the appropriate balance of its statutory operational

goals now requires a reduction of the rate of annual MIP charged pursuant to

Section 203(c)(2)(B) of the National Housing Act (NHA). As provided in

this ML, the total annual MIP charged pursuant to sections 203(c)(2)(B) and

(C) for most Title II Single Family forward mortgages has been revised as

provided in this ML.

Effective Date This ML is effective for case numbers assigned on or after January 26,

2015.Affected Topic This ML reduces the rate for annual MIP for all Title II forward mortgages,

with terms greater than 15 years, except;

 single family forward streamline refinance transactions that are

refinancing existing FHA loans that were endorsed on or before May

31, 2009; (before the rates were lower)

 Section 247 mortgages (Hawaiian Homelands)

This ML supersedes the annual MIP rates established in ML 2013-4. All

other sections of ML 2013-4 remain in effect.

STREAMLINE FHA REFINANCE 

IF YOUR LOAN WAS CLOSED 

AFTER May 31 2009

INTEREST RATES ARE LOWER 

AND MIP  REFUND/ lower premium

Call to see if you can 

take advantage of this today 

(949) 784-9699

______________________________________________________________

The following table shows the existing and the new annual MIP rates by

amortization term, base loan amount and Loan to Value (LTV) ratio. All

New MIP amounts set forth in this table are effective for case numbers

assigned on or after January 26, 2015.

Term > 15 Years

Base Loan Amt. LTV Previous MIP New MIP

≤ $625,500 ≤ 95.00% 130 bps 80 bps

≤ $625,500 > 95.00% 135 bps 85 bps

> $625,500 ≤ 95.00% 150 bps 100 bps

> $625,500 > 95.00% 155 bps 105 bps

Term ≤ 15 Years

≤ $625,500 ≤ 90.00% 45 bps 45 bps

≤ $625,500 > 90.00% 70 bps 70 bps

> $625,500 ≤ 90.00% 70 bps 70 bps

> $625,500 > 90.00% 95 bps 95 bps

Case

CALL NOW to refinance and save money (949) 784-9699

rates can touch the 3%' s now if your FICO is high

APR 3.99 for conforming FHA with middle FICO of 700

Take advantage of this drop now with cheap rates and

lower MIP

 http://eaglehomemortgage.com/carolinegerardo/ 

Cancellation

To allow mortgagees to obtain the reduced annual MIP rates contained in this

ML for loans in process with active FHA Case Numbers ie: loans not funded, 

FHA will temporarily approve cancellation requests for active FHA Case Numbers

within 30 days of the effective date of this ML.

FHA will provide operational details on case cancellations through FHA Info

notifications and on FHA’s lender information page available at

www.hud.gov/lenders.

Mortgage Rates Dip!

It has been a while since we talked   Mortgage rates have dipped! I am here to save you money, let's plan for 2015. Call me any time.       Caroline Gerardo Senior Loan Officer NMLS #324982 Cell 949-637-8190 Office 949-784-9699 CarolineGerardo@eaglehm.com 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.

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

Be Grateful

Condo For Sale Open House Dana Point

dana point condo for sale

Dana Point Condominium for sale $349,999.00
Open House November 8^th 2014 11:00 AM to 2:00 PM

25611 Quail Run Unit number 24 upstairs in back of complex facing the Creek and Ocean

Dana Point California 92629

Where can you find a bargain so close to the ocean?

Bike path and peek of ocean view.

Upstairs unit allows privacy and the feeling of being in the trees.

This clean unit is ready to move in. Owners have upgraded the kitchen with lovely butcher block counters. Sit on the balcony and enjoy your morning coffee.

Watch the birds head out to Doheny Beach and the sunrise behind them. Stroll to the park and Dana Point Community Center. Or take run on San Juan Creek trail down to historic Doheny Beach. Enjoy ocean breezes in the evening and relaxing lifestyle.

This unit makes a nice retreat as second home, could be great investor property that can be cash positive or first time homeowner.

There are two large bedrooms, and two contemporary

Gate code for added solitude.

Spinnaker Run is off Del Obispo Street and Alipaz

OPEN HOUSE SATURDAY NOVEMBER 8th Dana Point Condo

Let's Find Out How You Can Save! Rate Sheet as of 11/7/2014   25611 Quail Run #24 Dana Point Loan Description 30 year Fixed 7 Year IO       Rate 4.250% 3.750% 0.000% 0.000% 0.000% APR 4.299% 3.799% 0.000% 0.000% 0.000%     2 BED 2 BATH CONDO built 1982 914 square feet Down payment $ 34,999 + second of $35000.00 Need $43000 to close 4.25% 30 year fixed first   $1313 principle and interest + $175 2nd + $383 HOA + $351 Tax + $49 HO6 = 2271 total payment APR 4.299 Estimated income needed little bills $96000. owner occupied need FICO 721 this is not a commitment to lend rates as of 11/7/2014       Caroline Gerardo Senior Loan Officer NMLS #324982 Cell 949-637-8190 Office 949-784-9699 eFax 855-883-4303   CarolineGerardo@eaglehm.com www.eaglehomemortgage.com/carolinegerardo   Eagle Home Mortgage 8105 Irvine Center Drive Suite #500 Irvine CA 92618   PHILIP R SMITH   01918824 949-292-6050 Mobile 949-495-1800 Office     philiprsmith@bhhscal.com http://www.bhhscalifornia.com/real-estate-agen   BERKSHIRE HATHAWAY CALIFORNIA 29982 IVY GLENN DR #100 LAGUNA NIGUEL CA 92677 This is for informational purposes only and should not be relied upon by you. BERKSHIRE HATHAWAY CALIFORNIA is not a mortgage lender. Contact Eagle Home Mortgage directly to learn more about its mortgage products and your eligibility for such products. 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. Sample APRs shown are based on the rates and terms posted above factoring in prepaid interest and closing costs. Rates vary daily and may change or may not be available at the time of loan commitment, lock-in or closing. Specific loan terms apply and consumer is subject to qualification that includes, but is not limited to, owner-occupancy, minimum down payment and credit score requirements and/or any changes in investor guidelines or programs. This is not a commitment to lend. 6/12

Realtor ATTACKED Safety Tips

Another Realtor was attacked, this time blocks from my home in Laguna Niguel

in a lovely neighborhood.

Buddy up with a Partner who is licensed or a lender who will become your trusted partner  Open houses, meeting clients at empty houses and driving in someone’s car or even taking strangers in your car is never to be done alone. Leaving an itinerary does not keep you safe.

Do not meet a stranger at any property. Instead, ask to meet at your office or in a public place so others can see the potential buyer too.

Take your own car. NEVER ride in a stranger’s car.

Dress for safety. Dress professionally and avoid wearing expensive, flashy jewelry. Do not carry large amounts of money with you. I know many won’t agree with this but: Carry a taser or stun gun and practice with it on the 1^st and 15^th of every month. Practice juggling your lockbox code while remaining aware with stun gun. If ordinances allow get a gun permit. Practice weekly with the gun and wear it under suit jacket. Get a permit to carry concealed only after you are an expert with the gun.

Designate a safety contact who is responsible to check your incoming contact information and give you a call 20 minutes into an appointment. Prior to showing a property, have a printed form that asks for a prospect’s information: name, address, auto make and model, auto tag, driver’s license, local address, and two references. Make a copy of driver’s license. Leave the copy with office. Many Realtors' and lenders work out of your home. I myself as a mortgage lender make appointments in people's homes, but never with a stranger. You may not have the proper equipment to copy the license and email it. Get a scanner, have an urgent fax or text you send. Learn to take excellent photographs of driver’s license and license plate and forward to the contact safety person. Tell the buyer this is standard procedure and required by your broker.

 Use an agent ID form. Make sure your office knows your car's make and model and license tag, plus any other important contact information.

Set a coded distress signal. Be able to call the office or home with a message that appears harmless to a prospect but would serve as an alert to others that you’re in harm's way. Long ago I taught my children to use the word gorilla as a code emergency word. Set one with family and office safety contact

Stop working immediately if you pick up on something suspicious If it feels bad, run. No amount of commission is worth your life. If you notice inconsistent answers, lies, weird stories, unfamiliar with location they claim to be from in a client, or any abnormal behavior, or anything that signals that something is off, stop working and trust your gut instincts. Go to a public place.

Notify police when you feel that instinct.  Smart phones are useful in locating you and in Orange County California our local Sheriff is happy to come out and assist even when you suspect foul play.

Don’t go into a vacant house alone. If the door or window pried open- call police. Even in affluent neighborhoods we are seeing squatters who can be violent breaking into vacant homes and setting up camp. Anyone who calls to meet you may not necessarily be a buyer or seller of real estate, don’t assume they are all honest kind people.

When danger occurs you have seconds to decide how to handle it. You may be the greatest negotiator but running yelling fire might be your best defense. Practice self defense strategies.

If you insist on doing an open house alone: set a table and chairs out in the front yard. Greet the neighbors, tell them you are next door from x time until x time and don’t follow anyone upstairs or into the back.

long dark entry where you can't see around the corner says caution