Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
Double Foreclosures are a giant blinking vegas style sign that reads “credit is too easy to get right now”.
Am I the only one that sees this?
And BTW Bernanke just said in his confirmation hearing (going on right now) that at the current time in the United States there are NO foreseeable asset bubbles.
BTW this is the same thing he said in 2005.
The new LCO tract across from Melrose 53–I think it is called Rockledge (the smaller ones around 2000sf) Are a TREMENDOUS VALUE if you can get the still get the lots with ocean views–I was up there on a clear day and the higher row of houses have spectacular ocean and lagoon views–impressive for the $600K’s–brand new great schools!
The fact that Bernanke is so vehemently opposed to congressional Fed audits screams trouble. Of course, on the other hand, “congressional audits” sounds like a disaster in its own right.
Anybody want to take bets on a 3rd foreclosure for the Turkish prison home over the 56?
Shadash, at this stage of the came people just lie. It is not a big deal anymore.
Hi Jim,
PenFed is well known on the personal finance blogs as having one of the cheapest mortgage rates around. (They also do great car loans and credit cards.) Anyone can be a PenFed member; you just have to pay $25 to join the National Military Family Ass’n.
I tried to get a car loan through them, but they were super-strict on wanting “pay stubs”. Since I have my own corporation, I don’t have pay stubs, so they declined me.
As long as you have a job that gives you pay stubs and good credit, they probably will give you better rates than just about anyone else.
-Erica
JtR- How’s that Desalination plant coming along in Carlsbad? I kept reading about it in the UT and that they finally had approvals to go forward- to be the biggest in the Western Hemispere. Thought of it when I first saw the mentioned treatment facility.
Desal plant has the green light – they should be starting construction.
This just in:
WASHINGTON (AP) — The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs.
The rate, published Thursday by Freddie Mac, is the lowest since the mortgage finance company began tracking the data in 1971. The previous record of 4.78 percent was set during the week ending April 30 and matched last week.
Erica,
I am self employed (in a Calif LLP), and was able to get a PenFed loan (jumbo) for a second home purchase earlier this year. They had the best rates and terms at the time. They were also a big PITA to deal with: very slow and unresponsive, did not listen, asked for the same documents over and over again. Their “closing docs” had the wrong state filled in, making them impossible to notarize. Other stuff. I could tell that the loan officer was spread way thin.
It took two appraisals, and an extra month past the initially scheduled closing date, but eventually we closed on the promised terms. They wanted two years worth of my partnership K-1s and our personal tax returns. No pay stubs were needed.
I’m sure you agree there is nothing wrong with Penfed or any lender asking for proof of the borrower’s income, and that the income is established, not just temporal. Your corporation must file tax returns. I’m not sure why those would not work for Penfed, unless you are telling them an income that is not backed up by the tax returns(?)
The alternative is more liar loans. I don’t think those worked out very well.
As a PenFed member, I’m not sure I approve of my dollars going into that venture. However, I cannot say enough good things about them otherwise. 5% Gas/1.25% everything else cash back on the credit card, and unmatched customer service like USAA. I applied for an auto loan online around 11 AM on a Saturday, and had a blank check in the mail on Tuesday (they had mailed it out that same Saturday!)
Erica – sorry, I need to read more carefully before commenting. You just wanted a car loan. That should be easier than a home loan. Still reasonable that they want proof of your income, but I would think a tax return would suffice(?)
Talking about Waste Treatment. Wife & I went through an open house in Oceanside over the weekend. 3 four story townhomes (when you include the rooftop patio) right on the coast across the street from the Beach. Nice views of the Ocean from the tiny rooftop patios.
The places are new and look to be well-done. But — right behind and to the side of this place is the big waste treatment plant. A view of pool of bubbling human waste can be viewed from the back rooms. Lovely.
They are priced to sell – marked down from 2.4 mil apiece to 1.9mil. The agent said the owner is willing to entertain offers. When she asked what I thought after I toured the place, I said they seemed well-built, nice. I asked her if anyone happened to mention the treatment plant?
After a moment, she kinda laughed. It is funny.
@Smithers: “Your corporation must file tax returns. I’m not sure why those would not work for Penfed”
Me either. I sent them two of them (the full returns–about 30 pages–glad I had a sheet feeder fax) and they still wanted pay stubs. Took them nearly 2 months to turn me down. This was for a car loan refi–my car loan was at 6.64% and I wanted to refi into their 3.99%. I had no idea it would be so much of a hassle.
Finally, after several phone calls where they told me the tax returns would be fine, they sent me a letter declining me. I got annoyed, pulled the full amount out of my savings account and just paid the old car loan off. I prefer to have my money liquid, but it wasn’t worth paying 6.64% to have it liquid.
Whenever I decide to buy a house, I’ll just have my accountant whip up some “pay stubs” and try PenFed again. I have plenty of income and don’t plan to buy outside my means.
-Erica
There are no views of bubbling human waste in Oceanside near the beach or otherwise.
Whenever I decide to buy a house, I’ll just have my accountant whip up some “pay stubs” and try PenFed again. I have plenty of income and don’t plan to buy outside my means.
-Erica
Erica Douglass | December 3rd, 2009 at 5:24 pm
Sounds like mortgage fraud to me. I recommend not talking about felonies you plan on commiting on public internet forums. ^_^