Ellen Adams - LoansByEllen OR~WA~AZ ** FHA-VA-Reverse Mortgage Specialist **

~ ~ DID YOU KNOW MORTGAGE RATES ARE AT THE LOWEST IN 2011? ~ ~

That's right - Mortgage Rates are the LOWEST they've been in 2011!

What does that mean for you? 

It means NOW is the time to refinance or purchase that home!!!

Mortgage Rates will go up as the economy improves, so take advantage of the LOW Mortgages Rates while you can.

This week I've helped 4 homeowners refinance who had been watching the rates get lower and lower and lower.

When I asked them why they chose this time to refinance, they all said that they knew Mortgage Rates will go up eventually, and they wanted to take advantage of the Low Mortgage Rates NOW. 

SMART FOLKS!

What's happening in Eugene, Oregon Today? Antiques Roadshow, that's what!

How much is that old crank telephone in your attic worth, anyway? You’ll soon find out, because Antiques Roadshow is in Eugene,Oregon, TODAY. All the Antiques Roadshow fun will be at the Lane Events Center!

Tickets are FREE but you had to apply to get them. The Eugene Oregon Antiques Roadshow segment will air sometime between January 2012 and June 2012, but no specific date has been set yet; Antiques Roadshow will announced the air date in September 2011.

Do I have to bring an item to be appraised, or can I just go to watch? You must have tickets for this Antiques Roadshow event, and, you must bring at least one item for appraisal. But, no more than two items for appraisal per ticket.

Can I bring my Great Great Grandfather Joe's gun to be appraised? Unfortunately, firearms are not allowed in this Antiques Roadshow event for appraisal. But I'm sure you have many other interesting antiques around the house you're curious about, right?

How can I be featured on Antiques Roadshow? According to Antiques Roadshow FAQ section, producers choose based on the item history, rarity, value and the guest story as well as the appraiser’s insights.

Little known facts about Antiques Roadshow (ARS):

• The BBC originally produced ARS which aired in the United Kingdom on February 18, 1979; it is still in production by the BBC

• ARS was a spin-off of a popular documentary about a London auction house which aired in 1977

• Multiple other countries have created their own versions of ARS: United States, Australia, Sweden, Canada, Finland and Netherlands for example

• The US version was created by the Public Broadcasting System in 1997, is produced in Boston, Massachusetts, and is currently in its 15th season

• ARS is so popular that the insurance company Geico created a commercial parody of ARS
  

• ARS has received 8 Emmy Award nominations

Hopefully you applied for tickets, were chosen, and are coming for the fun!!!

I'll be there at the 3pm session, so come find me and say hello!

If not now, when? 

Take advantage of LOW Mortgage Rates in Eugene Oregon

Mortgage Rates in Eugene Oregon are LOW  - - if you don’t purchase or refinance now, then WHEN?

According to Freddie Mac, this is the lowest Mortgage Rate in 2011.

If you’ve been waiting to buy or refinance, now is the time. 

When Mortgages rates in Eugene Oregon strike the yearly low, it’s the time to buy!

We do not know how long these low rates will stay around, OR when they will come back. 

So GET THE LOAN LOCKED WHILE YOU CAN, at this

LOW Mortgage Rate time.

Are you Pre-Approved? 

If not, I’m in Eugene Oregon and I can help you catch this low Mortgage Rate with a quick and easy pre-approval process.

Pre-approval gives you peace of mind while you’re shopping for the home of your dreams during this low Mortgage Rate time.

I’m being very blunt here with this message: these Mortgage Rates are historically low, and they’re on their way up, we just don't know when. 

Get pre-approved, search for the home of your dreams in Eugene Oregon area, and call me so we can lock this low rate! 

I’m in Eugene, Oregon, and I have 16 years of experience and specialize in VA, FHA, Conventional and Reverse Mortgages.

I can be contacted at 541-868-1050, or loansbyellenadams@gmail.com

Helping a Senior with a Reverse Mortgage

One of the most gratifying parts of my job as a Loan Officer is when I get to help a Senior tap into the equity in their home through a Reverse Mortgage.

It usually starts this way: I get a call from a Senior, they are at least 62 years old, and they are worried, maybe scared; each Senior has their own reason for being worried and/or scared. 

I’ve had one Senior who became ill and couldn’t afford the medical treatment he needed; I had another Senior who lost her job – and she was in great shape and wasn’t planning on retiring anytime soon; another example is the man whose wife passed away, and with that went her pension, and he was left with much less to live on than he was expecting.

After hearing their story (every story is fascinating) I get some basic information from them.  I confirm that everyone on the mortgage is at least 62, and if they have a mortgage, I run a credit report to see how much is owing on the house, and compare that to the FHA lending rules to give an estimate as to how much they may be eligible for.

I had one Senior who simply could not believe it, thought it was too good to be true.  The next day I got a call from her Son confirming the details!  It was pretty touching actually.  Apparently the woman had been losing sleep over her unexpected medical expenses which made her medical condition much worse.  A few months after the Reverse Mortgage was completed and she had her money in her bank account, her Son called me and thanked me, and let me know that his Mother was sleeping regularly again, and her health was improving! 

I was shocked that the financial stability to pay medical bills made such a difference in this Senior’s life, but after thinking about it for a while, it made perfect sense.

The reason helping Seniors tap into the equity in their home is such a gratifying part of my job is that I feel very strongly that the last thing Seniors need to worry about is financial security, and a Reverse Mortgage can help with that.

They’ve worked so hard in life, and it’s time to enjoy life, time for some peace of mind!

If you have any questions about how a Reverse Mortgage may help you or a Senior you know, you can contact me at 541-868-1050, or by email at loansbyellenadams@gmail.com.

How many times do you run my credit report and

verify my employment when I get a mortgage?

Question:  I’ve just been informed that at the end of August 2011 I will be layed off.  My husband and I have been thinking about selling our home and purchasing another home, but it may not all happen before I’m layed off.  When getting a mortgage, how many times do you run my credit report and how many times do you verify my employment?  Thank you, Karen

Answer:  Karen this is a great question, and in this economy I’m asked this more often than you might think.

We run your credit report one time, and that is at the time you make loan application.  There could be situations where we run your credit report again; an example would be if debt was paid off prior to running the credit report, and it’s not registering with the credit bureaus yet, then we’d need to run your report again if it affected your ability to get the loan you want.

Also, anytime we run your credit report it is good for 120 days.

We verify employment a little differently.  At the time you make loan application we verify employment in writing.  Then, a couple days before the loan closes we verify employment verbally with your empoyer.  

To summarize the answers to your question Karen:

How many times do you run my credit report: usually we run your credit report once, and that is at the time of loan application.

How many times do you verify my employment: we verify employment in writing at time of loan application, and verify employment verbally a couple days before your loan closes.

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If you have any other question Karen, I can be reached at 541-868-1050 or by email at loansbyellenadams@gmail.com

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