Living trusts are a complex personal financial issue that need careful, qualified consideration. Non-Revocable Trusts and Revocable Trusts are different in many ways.

With many Americans vesting title to their real estate in a living trust, and many more considering living trusts for future planning, is a living trust right for you? What are the pros and cons of a living trust as far as taxes and wills go? What are the differences between a "revocable trust" and one that is "non-revocable"?

One of the best articles of information on the topic of living trusts I've seen is here. Remember to read the entire article, making notes of any questions, and discuss these with ALL of your financial experts — your accountant, financial planner, and attorney BEFORE committing to a living trust.

And remember, don't fall for "discount" living trust scams. Take the time and invest your money working with experienced professionals who can help you make the best living trust choices and guide you through the process of living trusts.

Looking for 100% purchase financing on a California home? We're able to offer FHA loans to qualified home buyers and refinancing with FHA loans!

What can a FHA loan do for you?

* FHA provides Low Down and even NO Down Payment loans!

* FHA provides low interest rates for affordable monthly payments.

* FHA loans offer low loan closing costs.

* A FHA loan can finance 2 - 4 unit properties and manufactured homes on permanent foundations.

* FHA allows for less-than-perfect credit in some cases.

* First-Time home buyers can qualify for a FHA loan.

* FHA loans can be used to refinance property you own, including cash-out.

Read the rest of this entry »

We've all heard the nightmare stories about so-called "fixer-upper" homes. Sometimes things go smoothly, sometimes there are "surprises" you couldn't possibly imagine.

For those of you that have seen "The Money Pit" with Tom Hanks and Shelley Long, everything went wrong for the aspiring homeowners, but how would you like to be the poor folks featured in this story?

Sometimes reality is scarier than fiction.
:)

Once again, I'm here to remind you good folks of the pitfalls of the Option ARM home loans that have become so very popular these days. Any home owner considering an Option ARM needs to know as much as possible about the downsides of this particular loan, and it's information many lenders won't tell you up front.

Remember that no matter what it's called, any home loan that allows you to make a "minimum payment" amount at a very low interest rate (typically 1.00% to 4.00%) for a predetermined period and contains a provision for negative amortization is an Option ARM loan, or as we industry peeps call it, a "neg-am" loan. Read the rest of this entry »

Seems like we all want the latest and hottest "thing" these days, and even some mortgage loans are no exception. The lending industry seems intent on seeing everyone in America become a homeowner by introducing new adjustable rate loan products that give a false impression that home ownership is both cheap and affordable despite soaring home prices.

Contrary to the good advice of many financial experts, more and more would-be and current homeowners are being lured into loans that can backfire and possibly even render you homeless in a few years if your income cannot keep pace with increasing monthly mortgage payments and a rising interest rate environment.

One of these adjustable loan products introduced to the average consumer is the "Option ARM" home loan, also known by several names like "Pick-A-Pay Loan", the "Flex Pay Loan", "Flex Option ARM", and "Pay Option ARM", among others. It's other alias doesn't sound quite as attractive: a negative amortization loan ("neg-am" loan for short).

Lenders use the low starting rate or sometimes the low introductory monthly payment in their advertisements for these loans as a hook to get your interest. "Just imagine," they say, "having a 30—year home loan with an interest rate as low as 1.25%", or "a $500,000 home loan for just $1666 a month!". Some even go so far as to advertise these loans with no closing costs! Wow! Sounds like a great deal, so what's the problem?

While these advertisements are not inherently false, they're only short-term truths. As with any longer-term financial commitment like a mortgage, the "devil is in the details" as they say.

Read the rest of this entry »

California homeowners:

Do you have an adjustable ARM loan that is due to adjust? Are you considering refinancing your adjustable rate home loan into a nice, long-term fixed rate loan? Now is the time. (2008).

Long-term interest rates are once again EXCELLENT on 15, 20, and 30-year fixed-rate California home loans to credit qualified borrowers. We also offer 40-year amortizations on several loan programs for even lower payments.
We also offer the popular "Interest-only" monthly payment options on our long-term fixed rate home loans for up to the first 10 years of the loan term to credit qualified borrowers.

Don't wait to see just how volatile the market can be on your adjustable rate mortgage. Refinance your California home at a lower fixed rate today, while rates are once again very, very good.

Call me for a free, no-obligation consultation today.

John J. Harambasic
1-800-644-8829