Jose Delgado

With all the media about banks going under and FDIC taking over banks, many people always ask me "Is your Bank Safe?" "Are you guys still lending money?" That is a question that I get asked frequently as well. I can understand how people may feel scared today about there money in banks especiall if they lived through the great depression era. At Siuslaw your deposits are safe. All deposits are FDIC-insured up to $100,000 as an individual, with greater coverage for joint accounts, IRAs and CDs. In addition, Siuslaw bank offers CDARs (Certificate of Deposit Account Registry service), which gives you access to multi-million dollars of FDIC-insurance. Siuslaw did not engage in any subprime mortgage lending. Unlike some of our competitors, we did not get into the type of loans that are bringing down some larger organizations. Siuslaw is well-capitalized and financially sound, as we have been for the last 45 years. As the oldest independent community bank in Lane County, we are considered safe and secure and considered to be a "well performing" bank. As a matter of fact bankrate.com recently rated Siuslaw Bank #3 in Oregon for safe and sound ratings. #'s 1 and 2 were two Trust banks in the Salem area. If you want to rate your bank and or credit union click here.

Thank you for visitng!

Jose,

As I was winding down and getting ready to slip into bed I noticed my phone's light blinking alerting me of an email. I read it and could'nt resist but to share. It said the following:

Dear Jose,

Please repeat this simple saying. "I AM playing the game of life and it is meant to be FUN!" If you endeavor to always remain within this simple understanding Jose your life will begin to smooth out and you will enjoy it a lot more. This is not rocket science here, it is merely a game and all of the rules are designed to help you be, do and have whatever you desire. Simply learn the rules and use them to your advantage. It is easy and effortless when you know the rules and play by them. - Richard Blackstone -

This is so true! We are merely creating our own game as we live life. You can create your own rules and play by them. Play your game of life and make it FUN! Make it a great day!

Richard Blackstone is an Award Winning Author, International Speaker, Master Life Creator.

To learn more about him go to www.richardblackstone.com

As of Friday October 17^th, Funding for Rural Development's Single Family Housing Guaranteed Loan program is now available for fiscal year (FY) 2009. The Rural Development Guaranteed loan Program, or referred to as RD, is a guaranteed loan that is flexible to accommodate people who need 100% financing who are looking to purchase in a defined rural area. RD assists thousands of families and individuals annually to become homeowners.

Here are the basics on how it works:

•· Finance full purchase price plus closing costs up to 102% of appraised value.

•· No monthly mortgage insurance - One time financed guaranteed fee of (2%) at closing which keeps payments lower than FHA

•· Gifted funds are permitted from family members.

•· Buyer doesn't have to have post closing reserves (savings).

•· Ratios to qualify are 29/41

•· Min. credit score of 620

•· NOT LIMITED TO FIRST TIME HOME BUYERS

•· Seller is able to pay all closing costs - Not limited to any %

Homes that qualify:

•· Single family residence, Non-Farm, Owner Occupied

•· Condo's, Townhomes, Approved PUD's

•· Manufactured homes are eligible as long as they are brand new from approved dealers

•· No in ground swimming pools

If the buyer is a First Time Home Buyer they can combine the RD loan program with the Oregon Bond loan program and take advantage of the low interest rate it offers.

These are just the basics. If you would like to learn more about the RD loan program, feel free to give me a call.

Thanks,

Jose Delgado

Cell: (541) 968-5648

Office: (541) 683-2400

I recently helped a great family buy their first home and I recevied a Thank You card from them that said: (verbatim)

Dear Jose,

We wanted to let you know: what you have helped us accomplish has changed our lives. Our house is more than just a home - it's the promise of a better future for our son. Thanks to you for all the time you took with our case... Becuase of your knowledge, expertise and caring we now have our own home... Something we have dreamed about for so long!

Jose, you and your team at Siuslaw are the Best! We thank you now and will thank you in the years to come.

Gregorio A., Mycena B. & Ethan A.

What a great feeling I had after reading this card. I'll tell you what, it certainly made my day!!

Last month, the fallout from the mortgage crisis took a rather unusual turn. For the first time in 20 years, several US banks went belly-up, most notably IndyMac Bank, the second largest financial institution to fail in US history, and one of the largest mortgage lenders in the country. Suddenly, IndyMac's bank account and mortgage holders found themselves in uncharted territory – what did this mean to their money and, more importantly, what did it mean to their homes?

Over the next few days and weeks, the Federal Reserve, which seized IndyMac's assets, did its best to assure IndyMac's customers that their bank accounts were protected by the Federal Deposit Insurance Corp (FDIC). This meant that typical checking and savings accounts were protected up to $100,000 per individual and up to $250,000 for retirement accounts, such as an IRA.

Mortgages, however, are not protected by the FDIC. What's more, the bank or entity that just went out of business, in this case IndyMac, may not be the actual "owner" of your mortgage....... Click Here to Read More