Jay Brown

Finally. After a couple weeks of rising interest rates, we finally saw some relief in the interest rate markets today. We experienced rate cuts 3 times today from our investors.

From what I have been reading, I think rates could fall back to the levels we saw 3 weeks ago when they bottomed out. If we can see sustained levels of low interest rates, that hopefully will be the catalyst to get the housing market moving again!!!!!

The Lynchburg Chapter of Junior Achievement needs your help.

I am a new board member for Junior Achievement here in Lynchburg, Virginia (as of August) and we have had to make a difficult decision. Yesterday, we had to issue the following press release:

October 30, 2008

After 40 years of teaching students the principles of entrepreneurship, financial literacy and workforce readiness, the board of Junior Achievement of Virginia's Piedmont has voted to begin dissolving the organization as of October 31, 2008. Unless sufficient operating funds are raised, this process is expected to be completed by November 15. This decision was made necessary due to a shortfall of donations despite the board's efforts in the Spring and Fall campaigns and attempts to pursue other strategic alternatives.

Even in the face of these challenges, JA was able to reach 5,199 children last school year, and has already touched 1,220 students this school year. Demand for the programs is ever increasing. Over the last few weeks, the requests for JA programs K-12 for the fall semester have doubled over this time last year. Teachers and principals are calling upon JA to help educate our community youth. The need to teach our students these valuable skills is greater than ever especially in this day and under these economic conditions, it is more important than ever for young people in the United States to understand the concepts of budgeting, affordability and responsible spending

Questions can be directed to the Junior Achievement office at 434-846-4813.

I am posting this in the ActiveRain forum because there isn't a group of people that represent the entrepreneurial spirit like Realtors and Mortgage Lenders. This is program is such a valuable resource to the community and I would be a shame if it closed locally.

If you are able to help with a donation, it will be very much appreciated. If you are not able to personally help, please pass this information to your co-workers, family and friends that may be able to help.

Thanks for your time and help!!!

Jay M. Brown

One of the things I like most about Real Estate Lending is helping a customer and their family realize the dream of homeownership. I feel a personal responsibility in helping a buyer not only get approved for financing, but making sure they are approved for the best possible financing for their situation.

Finding out what the "best possible financing" is the challange that I really enjoy. It may take shape in a "regular" conventional mortgage, it may be FHA, VHDA or Rural Housing. More often, however, a short term loan may be the best option.

Working for a Bank, rather than a traditional mortgage company allows us to get somewhat 'creative' with financing options where we can think outside of the box to get buyers into homes. There are, of course, qualification quidelines that need to be met, but there are some cases where a traditional mortgage isnt the best course. We can (and do) utilize the more traditional options out there (VHDA, FHA, Conventional), but having the flexibility get creative is a must in this market.

Keep this in mind if you have the following situation:

• • Buyer with a home to sell
  • Buyer that doesnt want to liquidate assets tied up in a down stock market
  • Client buying a home in need of repair

If you have further questions about this short term solutions or any of our traditional programs, dont hesitate to call.

Jay M. Brown

434.944.5191