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 

I own 400 shares of Intel stock. On August 31, 2000, this stock reached its all time high: $74.87 a share. Today it trades at around $25 a share. Do I wish someone would have told me to SELL THAT STOCK while the value was still this high (and then buy it back when it plummeted to twenty bucks a s...
08/30/2007
Within the past decade, thousands of homeowners made a decision that they have come to regret:Instead of buying expensive real estate near their jobs (and modest, older homes) they were lured to bigger, much cheaper new homes (McMansions) in outlying areas. This required the bread winner to spend...
08/27/2007
Just when we found the one buyer the bank would approve, you know, that guy with one blue eye, one brown eye, an 850 score and $300,000 down? Yeah, that guy. Guess what? The bank takes one look at the appraisal (of a property that appears to be a give-away price) and slashes it by $100,000.I gues...
08/23/2007
There is a place where being upside down in a loan is the NORM. It doesn't create a crisis. Lenders don't close their doors because of it. Borrowers accept it, and still willingly buy. Where is this place? It is none other than your SECOND biggest asset: Your car. Your truck. Your SUV. That big h...
08/22/2007
 I have clients who are asset rich. They want to tell me about jewels, gun collections, vehicles, boats, side businesses, land, and secret cash. They want me to write this on their credit application so the lender will feel all warm and fuzzy about the loan application. No, no, NO!  Never, ever d...
08/20/2007
Let me get straight to the point: It isn't about RATES. Rates could go MUCH LOWER, but if no one can MEET THE REQUIREMENTS to buy or refinance a house, it just doesn't matter. What will drag real estate down in the near future is not getting better and won't get better for a long time: the abilit...
08/16/2007
 Okay, I know for sure there are mortgages out there that need surgery. There are credit scores that need to be diagnosed. And some of you wish I could prescribe a remedy for your adjustable rate loan. But the DOC in FULL DOC means something else. Heads up, home buyers, refinancers and investors....
08/13/2007
Market mentality is an interesting thing. In today's Internet era, it moves as fast as wildfire and seems to grip our brains and cripple our thinking. It explains why very few people are able to buy low and sell high. With very little effort, it is easy NOW for all of us to look back on the recen...
08/11/2007
 Out here where prices are high, and there is still competition to buy $1.5 million digs in San Francisco, we're begging: Jumbo, will you please come home?Somehow or other, JUMBO got swept up in the whole subprime mess, and is now MISSING. Gosh darn it, what did JUMBO DO WRONG?JUMBO isn't one of ...
08/10/2007
As borrowers flock to refinance out of adjustable rate mortgages (before any further mayhem in the mortgage industry), we are seeing a NEW ISSUE that is causing loans to fall apart: equitylines that are having limits slashed, or requiring borrowers to pay them off.How can they do this, and what d...
08/09/2007
Rainmaker
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Janet Guilbault

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