 |
Home
Apply Now!
Payment Calculator
Amortization Schedule
Contact Us!
Benefits of using your VA Home Loan
Common Questions
Rate Tracker
Forms
Things needed for a VA Loan
NMLS #70358
|
Article Archives for Boise, Idaho VA Home Loans - Since 2001 (Page 2)
Dodd-Frank Bill and the Mortgage Industry 3 Months in
July 1st, 2011
It has now been over three months since the Dodd Frank Bill was enacted, affecting the mortgage industry as a whole. The take on it from industry professionals is that it has made business much, much more difficult due to requirements to meet the regulations. Many more man-hours are required just to comply with them. Now that we have seen the full effect of the bill,it is clear it has affected two groups and two groups only-individual loan officers who facilitate the transactions, and the consumers themselves. From what we have noticed, interest rates about a quarter different in the negative, with a higher rate for the burrower. The loan officer is making about 15-20% less. The companies and banks that the bill targeted have not felt the effect—the expenses just been passed to the consumer.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)
www.VALoanWA.com
www.OregonVALoan.com
Boise ID New QR Codes in Advertising
June 15th, 2011
We have started using QR codes in most of our VA advertising in Boise ID, and Ada County. QR codes are pretty amazing. The smart phone has the capability to go directly to a webpage instead of requiring the user to type in the URL to get to a web destination. I look forward to continuing to use QR codes to make the process smoother.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)
www.VALoanWA.com
www.OregonVALoan.com
Boise Idaho and the Vet Center
May 24th, 2011
I spent the day in Boise ID driving around to different places in town. I stopped by the Boise Vet center and met the people there. They explained exactly what they do for Veterans. They offer some great services to Veterans in the community. Boise ID has really been affected a lot by economic factors, including lagging employment numbers and the housing market overall.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
208.424.1038
www.VALoanBoise.com
Stranger Tides Pirate Contest
May 19th, 2011
Here at Creekside we are having a competition to see what team can get the most new people to “like” our Facebook page. The winners get a free lunch, half day off paid and movie passes to see the new Pirates of The Caribbean movie that comes out this weekend.
Please help us to be the top winning team so we can enjoy the bounty and not have to watch another team commission what is rightfully ours! If you are already a fan…thank you!!
Do it for Captain Jack!! Thank You in advance!!
Elisa Cotton / NMLS#86692
Assistant to Michael Frakes
NMLS#71539
Creekside Mortgage
360-571-5626 x 115
360-326-1672 Fax
Like us on Facebook!!
The move from California
May 17th, 2011
Overall real estate in the Ada County/Boise area was devastated in the past few years. It was hit much harder than most places in the United States due to the fact that we had such an increase in values in the early 2000s. We had further to fall than most places, since we had shot up so drastically due to the influx of population moving up from California because of our low prices. We took that nose dive in value, but it looks like we’ve had some consistency in maintaining where values are at now. We are pretty close to what 2000 numbers were, and in my opinion, Ada County prices will probably stay steady over the coming year in 2011 and probably be on the rise quicker than most places that surround us like Seattle and Portland, whose markets fell after ours did. That is just my opinion, but that is what I see happening overall in Ada County.
Foreclosures in March 2011 Still High
April 21st, 2011
Foreclosures in the month of March still ranked at a rather high level, but signs of stability overall in Boise, ID and the Ada County area overall, make things look like we’re in or near the end of the housing crisis. Boise ID will go down on the books in Ada County as one of the hardest hit areas because of our influx of residents and our increase in value between 2004 and 2007. Due to this, we had a much farther fall than most cities had to go through. Additionally, our economic factors, including employment, affect our home values, and we were hit here harder than many, taking into account the influx of borrowers and homeowners who moved up from California who were buying second homes. This caused an inflated home valuation during those time periods and made the fall on the other side that much harder. The stability over the last three months so far in 2011 in Ada County shows strength and a leveling off of overall values. Hopefully that was the end and we will see continued stability through the rest of 2011 in Idaho.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
208.424.1038
www.VALoanBoise.com
Wasington & Idaho VA Home Loans Gives $1,000 Towards SOWF
March 25th, 2011
Creekside Mortgage is donating $1,000 to Special Operations Warrior Foundation. We have been working with them over the last year, and give $100 for every VA purchase in the state of Washington & Idaho. This money provides full scholarships for children of fallen Veterans. Thank you to everyone for helping make this happen.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)
www.VALoanWA.com
Pat Johnston Took Some Time off to Visit Isreal
March 16th, 2011
Pat Johnston, realtor with RE/MAX Elite properties in Boise, ID, just got back from a trip to Israel. She said it was FABULOUS….even more than she expected it to be! They saw all of Israel top to bottom and everything in between! Pat wrote about her experience: “Going into Jordon was sooo cool! We had a Jordon military officer with an owwsee accompanying us on the tour buss to Petra. I never realized it would be so beautiful there. Orange trees, banana trees, olive, mango, almond - even the desert was gorgeous! I pictured it flat and blowing sand, but no, it was mountainous with deep canyons etc. We stayed on the Mediterranean, the Sea of Galilee, the Red Sea and the Dead Sea. If you get the chance to go DO IT!! Tourism is HUGE and they take extremely good care of all tourists!
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
208.424.6770
www.VALoan Boise.com
April 1st 2011 Industry Changes
March 13th, 2011
The Changes in the mortgage industry on April 1, 2011 are going to be overwhelming. It is going to be the good, the bad, and the ugly. But overall, I do see the positive aspects in the changes that will happen on that day. The biggest thing is that everyone is going to have to do it. Where rules and laws in the past have subjected only limited amounts of the industry, at least what can be seen so far of these changes should affect everyone in the industry.
There are aspects of the April 1 Frank Dodd Act that I feel will be good in the long run. A lot of people argue with the Safe Harbor Act portion, which states that it is our duty and our job to put the individual in the loan or the best option for them. There are a lot of people who say that hindsight is 20/20 when you look after the fact, for example, If certain individuals who took out a 7-year ARM and then decided to stay in the house longer than seven years, which they had not originally intended when they first moved, their situation appears worse than if they had sold as originally planned…or if they did a 30-year FHA loan when possibly they should have done a different type of loan to fit their needs.
In my industry, what I see in the bill is positive. Everyday I come across people who are Veterans, that in some cases have service-connected disability benefits, and they are pushed in or roped into a loan that does not fit their needs. From my perspective, that should never happen again. If you do have your VA eligibility, and in some cases have disability through the VA, there is no reason and hopefully no time in the future that anyone will ever do a non-VA loan for you. So some parts of the bill I can see as benefits.
Most of the changes, however, will be in accounting and pay structures. The intent of this bill was to have the consumer have less in cost, but I don’t think that will be successful. For example, right now, a year plus into the effects of the changes in RESPA that were instituted back in January 1, 2010, you can see that the individual borrower is actually paying more in cost than what they were prior to that event due to bank logistics and the individual companies involved that have to offset their expense to facilitate the law. I feel the same thing is going to happen on April 1. While the intent of the law is to lower the cost to the consumer and enable them to make more free choices, actually, in the end, it’s going to make it more expensive for them because businesses pass that expense on to the consumer. That is the one negative that will come out of this bill. Overcharging is still going to exist. It is not going to go away. It is going to be a shell game on how banks or how brokerages or how mortgage bankers will pay the individual loan officers. That’s just my opinion on what the law is going to effect, and I look forward to that date to find out exactly what is going to happen.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
360.571.LOAN (5626)
Interest Rates Improving
February 23rd, 2011
What an overall crazy week it has been in the markets, but the good news is that rates have actually been improving; sticking with the theory that bad news is good news for interest rates. The issues going on in the Middle East, oil prices drastically increasing, and the stock market on decline have contributed to improvements in rates over the last week. This will most likely continue over the coming months. No one sees any light at the end of the tunnel and oil prices will probably continue to increase through the busy fuel months into the summer.
Kerry N. Greenwald
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)/503.445.1038
www.VALoanWA.com
www.OregonVALoan.com
Newer Articles - Article Archive Page 3
|
 |
