Ed Brophy's Mortgage Update

Mortgage and Lending - Ed Brophy, REALTOR®
A place to learn about mortgages, interest rates, credit and ask the guestions you've been wondering about.
Relocate America recently released its 2010 list of Top 100 Places To Live In America. The rankings are topped by some cities you may expect, and some you may not. Los Angeles did not make the list. According to Relocate America, the rankings highlight communities “moving in the right direction”...
The national foreclosure rate is finally falling. According to foreclosure-tracking firm RealtyTrac.com, the number of foreclosure notices dropped 2 percent between April 2009 and April 2010. Two percent may not seem like much, but it’s the first time in the history of the RealtyTrac report that...
Recently I’ve been receiving a number of questions asking Homeownership After Short Sale, Is It Possible. Many people who through no fault of their own had to sell were blocked from repurchasing a house for four years or longer, even though they’d rebuilt their credit, had qualifying incomes and...
As of 05/13/2010 California has received 2,470 applications for the $10,000 tax credit for new home owners totaling $13,283,000. So it's not too late to get your application in. Remember submitting an application does not guarantee you'll get the tax credit. For more information e-mail or call me...
  Here's part two, another good read for all of my Realtor Partners participating in Short Sales.  Hopefully your Broker has a disclosure you can use directing your clients to the professional appropriate to their area of concern.   Short Sale Legal Issues Affecting Real Estate Agents Part #2 The...
Drew has spent a lot of time researching the Legal Issues Realtors face when taking on a Short Sale.  This is the first in a 10 part series he plans on running Tuesdays and Fridays.   I highly suggest all my Realtor partners follow the series.  It really is a great read and an eye opener.Short Sa...
First-time homebuyers in Southern California are facing a deadline. Time is running out on the $8,000 tax credit. To receive the $8,000, first-time buyers will need to be under contract by April 30th of this year. If you had plans on taking advantage of this credit, you should already be seriousl...
Nick Pakulla has a great post up asking Realtors what they look for in a Loan Officer or Mortgage Broker, I like to dedicated this post to those Realtors who have piped up with the ability to close the loan as a quality they'd like to see. You've all, or maybe I should say most of you have worked...
Nigerian home rental scams plaguing Craigs List at an alarming rate, I urge everyone who is in the rental market to remember this one piece of advice.  If it’s too good to be true it probably isn’t true. I’m in the market to rent a home in Palm Springs, California, I’ve been searching Craigs Lis...
I'm sitting here minding my own business when the phone rings, Sally Shopper is on the other end.  Sally want's to refinance her current 30 year fixed 5% mortgage to take out $100,000 to purchase an investment property.Sally would like to remain at a 5% fixed rate and not pay any points, and also...

Ed Brophy

Realtor - DRE #01344385
local_phone(760) 844-3736
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A place to learn about mortgages, interest rates, credit and ask the guestions you've been wondering about.

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