Atlanta mortgage and refinance lender

Incredible?!  There  have been frequent reports  in the alternative press and Europe, usually heavily suppressed by corporate news outlets, that at least $2 Billion in physical gold was removed from the underground parking structure of the twin towers by the truckload just a few hours before the terrible 9-11 incident!  Did this in fact happen?  Why, and if so, whodunnit?  Were did it go?

The Fed pumped up the money supply for what has seemed like endless bailouts with tax payer dollars.  The President and congress ordered the mortgage banking industry to get billions of loan dollars flowing to distressed homeowners in foreclosure, to stop the ever quickening slide in to a more than serious collapse of the banking and real estate sectors.  Precious few applications for loans have been funded?  Why?  It certainly is not because the clients haven’t been trying! Where is the foreclosure bailout money?  Is this another case of “whodunnit”?

Venting and  debating where the money went and who is to blame is entertaining at least for several. Is it the prospects themselves, the  bankers, or the politicians?   However, for anybody who is up to your tuche in alligators, as many clients and even mortgage lenders are, the real issue of immediate importance to potential customers is how to save what you may possibly and prepare, if possible, for any more disastrous surprises. 

Meanwhile, there are actually at least two temporary problems that stand  in the way of a successful California refinance effort.  First there is a lack of equity in properties seeking finance.  This is a problem that very well may easily have been anticipated and remedied from the start.  Second, many consumer credit reports are damaged almost beyond recognition due to the economic turn down painfully experienced  by the group needing refinance.! .

This too may have been remedied by credit guideline adjustments – something done many times in the past.  It appears, however, that the movers and shakers in the mortgage industry are content to encourage the homeowners to blame themselves.  The mortgage banks have been so successful at this kind of manipulation that they have the victimized homeowners borrowing and liquidating assets just to bring cash into  the bank  in hopes that they can be allowed to refinance!  Is there no shame?

Oh, also, the answer to our lead question, “No California Refinance Action – Whodunnit??”,   is at this point, a resounding Who Cares?!  So, protect your self and never mind what you hear on the street or in the media, put massive pressure on Congress and Obama/Biden so they begin to understand that the people want a piece of the promised bailout!  They want it now, and they want this intentionally messed up economy fixed now  for the sake of the citizens plus the country.! 

A California refinance loan is super when it happens!  The home loan industry received bailout funding  to help home owners who need to refinance and the consumers who are usually lined up to get loans.  However, the word of mouth on the streets and from the media suggest very few loans are getting funded.  Just what is that all about?

Well, at initial look, I’ll say that the given situation seems a somewhat analogous to that old saying, “water, water everywhere…nary a drop to drink!” We now hear a slightly revised version, “mortgage money everywhere, but nary a refinance loan anywhere!”  With regard to refinancing California homeowners it feels just like a return to the days when they were younger, before  had any sort of credit standing at all.  Then, they could never get a loan due to the fact they “had no credit history”  –  or, in order to  obtain a loan,  they were normally informed they will have to demonstrate that they did not need it, just to discover that if they could demonstrate they did not would need it, they would find out that if that were true, it would undoubtedly end up being considered that they didn’t meet the requirements because they did not need it!  As well as, in the alternative, if there is money, exactly why aren’t they doing lending options? Exactly what is up with all of this? 

It may very well be satisfying to discuss why no loans and exactly where the actual financial resource is and, consequently, who’s to blame. Is it the consumers themselves, the  lenders, or the Political leaders?  However, when you are ‘up to your butt in alligators’ as many potential customers along with even financial institutions are, the actual issue of leading significance is how to preserve the pieces personally and  pull through.

Truth be told there are evidently a small number of interim  simple problems in the way of refinancing California magic at the moment in time, specifically a lack associated with equity in property in search of finance as well as impaired credit reports since to the economic turn down seasoned  by  party needing refinancing, but it is coming, folks!. 

Compound this dilemma with the publics’ easy to understand feeling that they require to blame somebody as a consequence of just one of two states of mind that have a tendency to develop under the present circumstance:  1.)  the situation dismal hopeless, there is no liquidity anywhere,there are no employment opportunitties to be had, indeed, it is a bad day at black rock – doomsday has arrived for real!    2.) or, the economic climate has turned the corner for sure  Optimism springs eternal for some.  These wonderful folks see assistance forthcoming very quickly and point to the advertising which incessantly supports the California refinance possibility as reality and the homeowners certainly still need to refinance .  All in all, the consumers mood is cautious and frustrated … with a capitol “F”…. not exactly the backdrop for record lending!

The home refinance wants of homeowners are getting more critical by the month.  The inability of California refinance programs to materialize is understandably viewed with growing  and nail biting  to date  by countless numbers of property owners statewide.  So I went out to try and research the challenge.  I was really searching for suggestions to provide anyone who reads this article.

I  had the good luck, the other day, to converse at length with a very successful mortgage banking professional and  executive  in  Southern California.  He  has an valued career track record of making six and seven figure earnings on an annual basis and has been a  long time friend of mine.

 I asked him to respond to the particular subject,” is refinance California  taking place?”,   He promised me, ‘ refinance California home loans really are being closed just about every day more or less all throughout the state’.  It seems like that, right at this moment, getting most of these loan applications forced through proficiently is taking a bit more time than envisioned .   As a consequence,  the overall refinance phenomenon has not been able to gather up  the essential mass needed to commence to bring about a notable affect on the growing numbers of householders seeking to re-finance.

He agreed to share selected advice.  He began by providing some timeless advice which literally originates from somewhere back in time close to  the 400’s BC,  where , at the end of the Mediterranean.  We can still hear the clarity and wisdom of a man named Euripides reverberating down through the ages, saying to those who will listen,

There is in the worst of fortunes, the best of chances for a happy change.

                                                                                                                    Euripides

I can audibly hear several of you at this point asserting, ‘well, you realize, the fact that we shed almost all of the equity in our house isn’t really my carelessness at all!’  No, and you actually really are literally spot on.  What has happened to the equity in your real estate is certainly not your screw-up, however , counting on it, as if it were the Rock of Gibraltar, may be.

Here is a  short list of  suggestions which unfortunately may only help if you actually are actually not necessarily in a position to try to get financing for a California mortgage.

1.Enhance your family’s combined income, beginning as soon as possible.  All family members members must pull together throughout this difficult economic time

2.Get rid of virtually all expenses that     aren’t completely essential – yes, I mean in a primitive sense – get it straight!   Get your credit report tidy – more than tidy!!

3.Try to make absolutely certain your property and the local area everyone live in do not begin the process of really going directly hill – get your neighbours involved if necessary.  The last problem you would prefer is for your own neighborhood to begin descending into the grip criminal activities.

4.Take a look at whether you need to refinance at all.  It could be that you don’t!  Try to make certain your primary reason is valid under the current situation – i.e., should never re-finance for a frivilous reasons merely so you actually can make that once-a-year $10,000 spree at a favorite casino this year.  The troublesome fact is, according to Freddie Mac 2009 figures, 33% of homeowners who successfully refinance are obligated  to pay down their    loan account balances.  So Commence saving personal hard cash in the event you still want to home refinance loan.

5.Continue to keep your eyes and ears open with regard to new  California refinancing prospects.  FHA is still funding up to 97.5% loan to value.  Financial institutions or mortgage brokers may have numerous possibilities that use FHA options – look for a mortgage broker that has a provable track record in closing these kinds of refinance California loans.

6.Keep your own monthly payments current and keep out of foreclosure.   You can save your home, and in the end, after all of this is over, you will be glad you did!

7.Learn how to take care of your self, your family, your yard, your pets, your vehicles – get self sufficient – you don’t need to spend money on these issues the great majority of the time,  This is the economic reality of the time we are living in.