Emanuel Rodriguez

The proposed "Cash for Clunkers" plan I think is both good and bad. I believe that the plan addresses more of a cleaner earth and less oil dependency objective rather than helping out the auto industry. I think the administration is capitalizing on the current economic conditions to pass a law that they other wise would have never been able to pass. The fact that the car dealerships are hurting allows the law to have a chance to pass more easily. If I am not mistaken, I believe that it has only passed the house and the law is not in full affect yet.

I think this is a good thing because it gives people incentives to purchase more fuel efficient cars which in the long run could be good for us by decreasing oil dependency as well as pollution.

However I think that the proposed plan is a little misleading in that people think that the reason the plan is going through is to help GM. Well it is not just for GM according to USA Today. Click here for a complete set of questions and answers about the plan.

My view is that the government is doing a good job and sincerely trying to get things back into order. Again this is just my view. I question this one though because I do not think its what we need right now in the present. Every time someone takes advantage of the cash for clunkers deal the government is dishing out $3,500 to the dealer and sometimes under some circumstances $4,500.

I personally would rather see that money directly used to create jobs now. The plan will create jobs, but they may be in other countries. The plan is open to all brands of cars that are sold in the U.S. under $45,000. This includes GM's biggest competitors Honda and Toyota.

After all, you could want to buy a car all you want, but if you do not have a job and can not pay for it, it is pointless. Obama himself told Bloomberg that he himself sees unemployment getting to 10%. This unemployment number is not good news.

If you or anyone you know is in need of mortgage financing, give me a call direct at 908 868 0685 or send me an email at erodriguez@arkmortgage.com.

Check out my personal brochurefor information on myself.

Mortgage Interest Rates*

Rates as of Friday, 12th June, 2009:

Conforming APR Payment per $1,000 Jumbo APR Payment per $1,000 30 Year Fixed 6% 6.125% $6.00 6.625% 6.814% $6.40 15 Year Fixed 5.625% 5.832% $8.24 6.375% 6.683% $8.64 30 Year FHA 5.875% 6.067% $5.92 5.75% 5.929% $5.84 5 Year Arm 5.5% 5.621% $5.68 5.75% 5.929% $5.84

*Rates are subject to change due to market fluctuations and borrower's eligibility.

If you or someone you know is in need of mortgage financing, give me a call direct for a customized quote at 908 868 0685 or email me at erodriguez@arkmortgage.com.

Emanuel Rodriguez Mortgage Planner Ark Mortgage Inc Phone: (908) 868-0685 Fax: (732) 234-3662 erodriguez@arkmortgage.com

How Adjustable Rate Mortgages Work During the last decade, Adjustable Rate Mortgages (ARMs) have increased in popularity among consumers. These days, few homeowners (especially first-time buyers) remain in their homes for more than seven years. In this case, it often makes sense to get an adjustable rate mortgage with a lower rate, especially one with a 5-year or 7-year fixed portion, since they won't have the loan long enough to be concerned about rate fluctuation. Adjustable Rate Mortgages have three main features: Margin, Index, and Caps. The Margin is the fixed portion of the adjustable rate. It remains the same for the duration of the loan. The Index is the variable portion. This is what makes an ARM adjustable. Margin + Index = Interest Rate. It's important to understand that there are many different indices: The 11th District Cost of Funds (COFI), the Monthly Treasury Average (MTA), The One Year Treasury Bill, the Six Month Libor, etc. Each index has its own strengths and weaknesses; some are slow moving, others are more aggressive. The third and final component of Adjustable Rate Mortgages is Caps. Caps limit how much the rate can fluctuate over time. Annual Caps limit changes to the annual rate, whereas Life Caps provide a worst case scenario over the life of the loan.

Mortgage Interest Rates*

Rates as of Wednesday, 10th June, 2009:

Conforming APR Payment per $1,000 Jumbo APR Payment per $1,000 30 Year Fixed 6% 6.051% $6.00 6.875% 7.035% $6.57 15 Year Fixed 4.875% 5.674% $7.84 6.375% 6.528% $8.64 30 Year FHA 5.875% 6.064% $5.92 6% 6.273% $6.00 5 Year Arm 5.5% 5.565% $5.68 5.375% 5.504% $5.60

*Rates are subject to change due to market fluctuations and borrower's eligibility.

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Emanuel Rodriguez
Ark Mortgage Inc
1254 Highway 27
North Brunswick, NJ 08902

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