Bay Area Mortgage Blog

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Mortgage and Lending - Platinum Home Mortgage Company - NMLS #238304
Small, easy to read mortgage tidbits from a California lender take you from application to approval in 300 words or less.

ARCHIVED BLOG POSTS

2007 

We had several telephone conversations, as I tried to win his MORTGAGE REFINANCE business. By San Francisco standards, his 1350 square foot house, worth about $830,000, is very modest. How was I supposed to know he was a STEALTH MILLIONAIRE?This older, unmarried gentleman, tried everything to get...
06/30/2007
Why do we call it "ADJUSTABLE RATE MORTGAGE"? Seriously, we should come up with a new name. Just because at some point it will BE AN ADJUSTABLE RATE MORTGAGE, doesn't mean THAT LOAN WILL EVER ACTUALLY SEE THE LIGHT OF IT'S ADJUSTABLE DAY.Instead of calling them ARMs, let's start calling them what...
06/27/2007
He came to me with a a 2 million dollar house, a million dollar mortgage ( fixed at a 5.5% rate), AND ASKED FOR A REFI.  Say, what? He didn't need CASH, because he was paying this interest-only mortgage down with big CHUNKS OF CASH, from his very successful HVAC company. But something was bother...
06/26/2007
True Confession: One of my clients is in foreclosure. I know, I know.  Somewhere, some reporter is screaming, "BAD, Mortgage Broker, BAD, BAD, BAD! How could you be so heartless as to mis-inform and manipulate this poor unsuspecting borrower?"  Quickly now, let's all do something to bail them out...
06/24/2007
Okay, you make a gazillion dollars a year and can live anywhere you want. Where do you live? Probably in a waterfront property in CALIFORNIA.Here in California, we have a very long coastline, but guess what? Very little of it can be owned by private owners, because most of it has been preserved f...
06/24/2007
I often advise clients to think about their mortgage the same way they would think about buying a Lexus. This is because JUST LIKE A CAR, mortgages have OPTIONS, and the options you choose to buy will ultimately determine THE PRICE OF THE CAR, and THE PRICE OF THE FINANCING.Yes, there is a PRICE ...
06/24/2007
We should all be glad that mortgage CLOSING COSTS are up front and center, and fight like hell to keep it that way. This is a huge benefit to borrowers, EVEN IF THEY DON'T REALIZE IT. No cost loans are nothing more than HIDDEN COST LOANS.Everything that we buy has closing costs, but only in the h...
06/22/2007
When I first started in real estate, boy, was  I was stupid.  I'm sorry, but I knew absolutely nothing. I had memorized enough to pass the test, bought a sedan so big my husband dubbed it the "Tuna Boat", put on my best mini skirt, and applied to the biggest real estate company in town.  I had ne...
06/21/2007
How far should we go to sell our clients something they don't want? At what point do we risk losing the sale because the client wants something you don't recommend?I am helping our company test market a program directed at those homeowners that have adjustable rate mortgages. Without exception, t...
06/20/2007
If your California real estate has an adjustable rate mortgage with a FIXED RATE option that is about to expire, you probably have that uneasy feeling in the pit of your stomach. The FIXED RATE ball is about to end, midnight is approaching, you had the prince charming rate, and now your loan cou...
06/19/2007
Rainmaker
184,178

Janet Guilbault

San Francisco Bay Area Direct Mortgage Lender
local_phone(925) 212-6347
smartphone(925) 212-6347
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