Angelia Garcia

Hi AR and Community,

here is the latest email from TJ Henley, Loan Officer, Midlothain, TX. This sounds too good to be true but it is.

Hello!!!

Well has anybody seen an increase in activity in the last 8-10 days? I hope so. I know mortgage applications are rising. Of course, some of those applications are refinances, but I am seeing a bunch of first time home buyers getting into the buying game. That is good, real good.

First time home buyers create a natural progression for our marketplace. For example, a first time home buyer wants to buy a $110,000 house, the person selling that $110,000 house wants to buy a $160,000 house and so and so on. To help these first timers, there are programs designed to help people that have never purchased anything on credit; FHA as an example.

I highlight this little scenario because in the last week, I have had several friends and acquaintances ask me if we have any money to lend. Holy cow, do we ever. We have tons of money and tons of programs available for buyers. OK, so you may wonder with the credit crunch and mortgage meltdown, what is not available in mortgage lending. Here is a list of impossible or hard to find loans for your buyers.

• Stated income loans (this includes all limited or no documentation loans)
• Investor loans with less than 20% down
• 2nd home purchases with less than 10% down
• Mobile homes (these are out there still but are getting harder to finance because of the depreciating values and high foreclosures, try to stay away from them if you can, an appraisal could kill a deal on a well qualified borrower very easily)
• Bankruptcy less than 2 years ago, Foreclosure less than 3 years ago
• Credit score below 580 (some programs are not credit score driven but require a large down payment or large assets to qualify with low scores)

That pretty much sums it up. This last week, I had a borrower call me and did not know if he could qualify for a loan. Perfect credit (720 credit score) and good, stable job history. I told him of course I could get him a loan. He was very excited, he thought mortgage programs had dried up and blown away. That has me wondering, how many other potential buyers are out there that have no idea they could be home owners because they watch the evening news.

I hope your week is one filled with tons of activity.

TJ
_____________________________________________________
TJ Henley
Vice President/Loan Officer
ViewPoint Bankers Mortgage
Phone: 972-754-0453 | Fax: 214-473-2327
Email: tj.henley@vpbmortgage.com
Web: http://www.vpbmortgage.com



The information in this electronic mail message is confidential and may be legally privileged. It is intended solely for the addressee(s) named herein. Access to this electronic message by anyone else is unauthorized.

Contact him, he is good at what he does.

Due to the market slowing down toward the end of the year, I have been utilizing my free time to get familiar with Glenn Heights, TX. I started a newsletter in November and sent another one out in December. I have received phone calls from families living in Glenn Heights. It think this will be one of my new marketing plans. I even joined up to be a part of the Keep Texas Beautiful in Glenn Heights. I will be attending classes in January. In the meantime, I have gone to visit the new subdivisions going up in Glenn Heights. The main purpose is to become familiar with the HOA's. Here is a brief list of active HOA's in Glenn Heights.

1. Gateway Estates-Premier Communites Management-214-871-9700 ext 237 David Baer.

2. Magnolia Farms-HOA info not available at this time.

3. Meadow Creek-Dee-Lee Development-214-526-1925 Lee Evans

4. Sunrise Meadows-no active HOA

5. Stone Creek- no active HOA

6. Kingston Meadows Community-HOA info not available at this time.

I will update the information for those not provided at this time.

If you are looking to buy, refinance, lease, or sell your home-give me a call.

Angelia Garcia, Realtor 214-912-9390-direct line to me.

Provided by TJ Henley-Viewpoint Bankers Mortgage-the latest news from TJ is that interest rates are at an all time low of 5%. You can even buy down the interest to a 4 %. That just puts a tickle in my tummy. I will be calling my fencers and spread the good news. I have already printed my newsletter with this fabulous information.

To all the buyers out there waiting for the perfect moment to purchase a home- It's right here in black and white. Get on the phone and call your loan officer. If they do not provide you the exact information then hang up and call my loan officer-TJ Henley. He can be found here on Active Rain.

Looks like the Feds have given out $600 billion to the mortgage industry thus having a great domino effect.

Courtesy of T.J. Henley-Viewpoint Bankers Mortgage

"Good morning Pioneers of the New Real Estate Frontier,

This should be a pretty volatile week for rates. You may want to start eating turkey now and let that sleepy affect take over until next Monday. The reason for the volatile rates is there is a lot of economic data this week coming out that moves the bond markets.

You know one question that I get fairly often is "How do I know if an economic report is good or bad for mortgage rates?" Here is a very rough guide. If it is bad for the economy, it is usually good for mortgage rates and vice versa. "Why is that?" is usually the next question I get. It is because bonds are considered safer investments in troubled times. When investors want bonds (bad economic reports), they are willing to take a lower return for the safety bonds provide. It is that lower return that translates into a lower mortgage interest rate. The opposite is also true. Good market data, investors want higher returns than conservative bonds, so they stop buying bonds and buy other investments. The people that must sell bonds have to raise the return on bonds to get investors to buy them, so the mortgage interest rates go higher.

As I mentioned this is a rough guide. In today's market environment, many of the predictable factors of our economy have been disconnected from each other which has made it very hard for those in charge to implement effective recovery measures.

So that is Mortgage Rates 101. My clients really appreciate the fact that I stay in touch with the moving factors of the mortgage market. For the past several years, too many mortgages were put in place by so called "professionals" that a few weeks earlier were waiting tables or from another industry that was not even financially related. Like migrant workers, many of these people have moved onto the oil and gas industry. Mortgage professionals reflect upon you and the whole home buying process. Let's make sure your clients are working with a qualified mortgage professional that understands the largest financial transaction that most families will enter into. I will be available everyday of the Thanksgiving holiday to help you and your clients with purchasing a home. "

Gobble Gobble,
TJ

Lately in the news, the Dallas Independent School District has been reported on consistently. It started about a month ago when the Superintendant let the cat out of the bag and notified the School Board that they were in the hole for 84 million dollars. Supposedly Mr. Hinojosa did not know about the huge deficit in the budget and now he has called for layoffs to balance the budget. Originally, over 500 teachers were supposed to be laid off but the senior teachers took early retirements and other teachers were moved around. What brought about the deficit was the hiring of new teachers and the finance dept. not adding the salaries to the budget. Teachers lost their jobs, children were upset to see their teachers leaving and Mr. Hinojosa still has his job. He needs to resign because he is supposed to be the leader. Sound familiar?

Now today, the Lancaster ISD is going through the same situation. A budget shortfall has occurred as well but in this district, the teachers have agreed to give back half of their salary increases to keep layoffs from happening. The Superintendant is on administrative leave with pay.

This year is going to the dogs it seems.