Interest Rate Reduction Loans
October 9th, 2011
VA streamlines, IRRRLs ( Interest Rate Reduction Refinance Loans ) becoming a hot item due to rates at an all time low; most rates being below 4%. In Clark County even though most houses are purchased in the last 5 years being close to the watermark ,meaning loan to value, which is close to a 100% most. VA doesn’t require an appraisal in most situations on these types of loans. A lot of local Veterans are doing this to lower their overall payment. My biggest recommendation is to stay within a 30 year loan or 15 year loan,as long as they stay fixed A lot of big marketing companies are leaning towards hybrid arms and trying to sell the concept of low interest rates. They are only short lived and graphs are shown from 1986 to present. We have shown rates at all time lows. We have been at a declining rate ever since 1986 if you go to the previous 10 years the graph goes to the opposite direction; which will be more inclined to where we are currently in the market. If you are in Clark County call us to see if this is an option to what you want to go thru can do.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360-571-LOAN 5626
www.VALoanWA.com
www.OregonVALoan.com
Northwest #1 VA home loan experts
October 5th, 2011
We recently changed our motto to Northwest #1 VA home loan experts. It has come to my attention that many people have said: “Why stereotype or brand yourself for one product because it limits your capability of showing people you can do other types of loans.” I think that being a shop that tries to do everything is counterproductive with the mindset of society right now. People prefer the fact that there is specificity in the marketing of VA home loans. It is unusual for a mortgage company to specialize and focus on one type of loan. Being a VA loan lender is vital for us in our marketing in Clark County and Vancouver, WA for us to continue to be viable in this industry, and for us to be distinguished from everyone else. I will continue to focus on assisting Veterans and providing the assistance necessary for them to take advantage of their VA home loan benefits.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360-571-LOAN 5626
www.VALoanWA.com
www.OregonVALoan.com
Real Estate and Unemployment in Clark County
October 2nd, 2011
The Real Estate market in Clark County seems to have finally leveled off. There are still tremendous amounts of foreclosures that economic factors have affected. Until we can curve those numbers and have the numbers skew the other way, unemployment will continue to affect housing prices.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
208-424-6770
www.VALoanWA.com
www.OregonVALoan.com
The Greenwald Team email
October 1st, 2011
One benefit of adding an email for the team is that everyone in the team gets the message and it will help the overall flow of communication in the office. The new email name is: TheGreenwaldTeam@Creeksidem.com which will enable distribution to everyone. Employees associated with title companies, real estate agents, and borrowers can use this email, and this way everyone will get the message and it will be dispersed properly. Ultimately it would prevent tasks from being delayed so the response will happen instantaneously.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360-571-LOAN 5626
www.VALoanWA.com
www.OregonVALoan.com
Creekside Mortgage donates to Operation Home Front
September 22nd, 2011
Operation Home Front is one of the nonprofit organizations that we assist. Every purchase that Creekside Mortgage closes in the state of WA or OR we donate $100 to Operation Home Front. It gives me great pleasure to say that we have donated to Operation Home Front a total of over $500.00 this month. It’s a great cause and it’s amazing what they do for the local Veterans of WA and OR. We look forward to continue supporting all their efforts. www.operationhomefront.net/
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
208-424-6770
www.VALoanWA.com
www.OregonVALoan.com
Subordinating your second mortgage
September 1st, 2011
Our volume of IRRRLs (Interest Rate Reduction Refinance loans) for VA continues to increase due to market conditions. Last year it was impossible to do subordinations, in which a client kept their second mortgage as it is, while trying to refinance the first. In a subordination agreement, the second loan is not paid off but, the lender who holds the second mortgage agrees to keep your loan intact and remain in second lien position on your house. Getting a subordination allows you to refinance your first mortgage to lower your interest rate. We have had certain situations where people dropped their first rate but still have the second.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)
www.VALoanWA.com
www.OregonVALoan.com
Homeless veterans to get additional housing
August 11th, 2011
Space on Vancouver’s Veterans Affairs campus has been picked as a location to build housing for homeless veterans. The 1.35 acre parking lot will be used to expand housing for veterans in need. The project, providing it follow the timeline of previous projects, should break ground in the next 12-18 months pending an executed lease and financing for the development and it could include permanent or transitional housing for up to 24 months. The veterans may also have the option of a rehabilitative program or be able to support veterans with families.
Spokane is the only other VA site that has been slated for the Building Utilization Review and Repurposing Initiative in the state of Washington. The VA and Department of Housing and Urban Development estimate that there are almost 2,000 homeless veterans just the state of Washington.
Michael Frakes
NMLS#71539
www.valoanspecialist.com
Creekside Mortgage
360-571-5626
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Stephen Granmo realtor from Portland, OR
August 4th, 2011
One of our realtors from Portland has had success opening his own company focused on Veterans. He has been assisting Veterans in purchasing homes for some time now. The name of his company is called NW Service Realty. He has been serving Veterans in the local community and their families. We have worked with him for years and he is an unbelievable realtor, doing well over 300 transactions himself. He is a Veteran and served in the U.S. Coast Guard. We know he will be successful in this endeavor.
Housing Starts Slowing Down in Clark County WA
July 26th, 2011
The latest numbers came out and housing starts have decreased. We have noticed it here in Clark County WA. You can see a lot of builders in town have not been buying new land for neighborhoods, and they continue to close out neighborhoods they currently have. If this does continue in the near future (it is hard to believe) but we may be in a position where there is a shortage of available new construction due to the fact that you don’t see any new developments popping up. This would be good to get rid of some of the inventory of existing homes to get us to where we need to be on the other side with this industry.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)
www.VALoanWA.com
www.OregonVALoan.com
VA Rates In Clark County WA are the Same a 20% Down Conventional Loans
July 19th, 2011
VA interest rates in Clark County WA have been trending lower than what some people can get on a conventional loan. It is pretty amazing to not be required to put any money down on a house and get these great rates. You can get 100% financing with VA, and the rate is equal if not better to what a conventional loan might be. The number of VA home loans being done in Clark County WA has been on the rise, and we hope that things hold steady, and this does continue in the near future.
Kerry N. Greenwald
NMLS # 70269
Sr. VA Loan Specialist
Creekside Mortgage Inc.
360.571.LOAN (5626)
www.VALoanWA.com
www.OregonVALoan.com
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