Michael Regan- Petaluma Home Loans- Specializing in Sonoma & Marin Counties

 

 

 

 

The Petaluma lighted boat parade happens once a year, usually the first weekend in December.  It takes place in the turning basin on the Petaluma River near the D street draw bridge.  About 30-40 boats are decorated and people from all over line the banks to watch.

 

 

 

 

 

 

 

 

 

 

After the procession the boats dock and you’re welcome to take a closer look.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The best places to watch the parade is at Graffiti restaurant and the Apple Box on 2^nd street, at Dempsey’s in the Golden Eagle shopping center, and at the River House on Weller Street. 

 

 

 

 

 

 

 

 

 

 

 

 

 

Be prepared to get there an hour or so ahead of time to get a good view and if you’re on Weller most people bring their own tables, chairs, and food; it’s a great time and perfect for families.   

 

 

On October 1^st 2011 Congress allowed the high balance loan limits on Freddie Mac, Fannie Mae, and FHA loans to be reduced to 115% of the medium home price of each county. In Sonoma County the limit went from $662,500 to $520,950; a $141,550 drop. In Marin it dropped $104,250 from $729,750 to $625,500.

On November 18^th 2011 Congress renewed the higher limits for FHA loans through 2013. At this time Fannie Mae and Freddie Mac are staying the same. So if you’re looking to purchase a home here are the new loan limits:

Sonoma County:

FHA: $662,500

Fannie Mae and Freddie Mac: $520,950

Marin County:

FHA: $729,750

Fannie Mae and Freddie Mac: $625,500

Napa County:

FHA: $729,750

Fannie Mae and Freddie Mac: $592,250

This increase will help many buyers secure more affordable financing and help the battered housing market recover.

Click here for current FHA loan limits

In November of 2011 the Obama administration announced a revamped Home Affordable Refinance Program or HARP for short. The initial HARP program was released in 2009 but limited an upside-down homeowner to a maximum loan to value of 125%. With so many homes more than 25% underwater, the program needed to be updated.

So here are the new rules (only applies to Fannie Mae and Freddie Mac loans):

- December 1^st, 2011 is first day applications may be taken. If you’re more than 125% loan to value you must wait until March 18th 2012 when Fannie Mae’s underwriting system is updated.

-No maximum loan to value; even if you’re 100% or more upside-down you may be able to refinance.

-Your current loan and new loan must be over 80% of your current home value. (If you owe equal to or less than 80% of your home value you can refinance under the standard refinance rules)

-Fannie Mae and Freddie Mac are reducing and/or eliminating some risk based fees making the rates better. Under the original HARP there were risk based adjustments that could add up to 3 points to the rate.

-Your current loan must have been sold to Fannie/Freddie on or before May 31^st 2009.

-The income and asset requirements are minimal and most options only require a recent pay stub and verification of employment. While there is no debt to income limit if your payments don't increase by more than 20%, you must receive an approve/eligible decision when running the loan through Fannie's Desktop Underwriter (DU).

-If you have a 2^nd mortgage you can’t combine the 2^nd into a new loan. Your existing 2^nd mortgage will have to agree to subordinate behind the new HARP 1^st mortgage.

-If you have existing mortgage insurance your current mortgage insurance company will have to agree to switch over the coverage to the new loan. This is completely voluntary on their part so there are no guarantees.

-Eligible properties include one- to four-unit primary residences, second homes, and one- to four-unit investment properties, including single-family homes, condos, co-ops and manufactured housing.

-Maximum loan to value is 105% on 40 year and adjustable rate loans.

What will make you ineligible for a HARP 2 refinance?

-Can’t have late payments in last 6 months and not more than one 30 day late in the last 12. Any 60 day+ late payment disqualifies you.

-If you’ve refinanced under the HARP 1 program you’re ineligible.

-If your current loan is not owned by Fannie Mae or Freddie Mac. (Click this link to find out if FREDDIE MAC owns your loan, click this one to find out if FANNIE MAE owns your loan)

This updated program may be able to help thousands of Sonoma County, Marin County, and Napa County home owners to stay in their homes as well as save them thousands in interest.

For more details on the HARP 2 program here are the press releases for FANNIE MAE and FREDDIE MAC.

If you're in California and want to refinance under this program call or e-mail us today!

The Adobe Pumpkin Patch in Petaluma, CA has been a family tradition for years. It’s located at 2478 East Washington Street in Petaluma and it’s open from 10am-6pm daily; weather permitting.

There’s something for everyone from hay rides, farm animals, food vendors, farmers market, a haunted barn, and of course hundreds of pumpkins to choose from. My favorite is the Halloween store that always has great decorations for sale.

The farm is open from late September through Halloween. For more information call them at 707-763-6416 or visit online at www.adobepumpkinfarm.com

The City of Petaluma has a free program that allows customers to sign up for a water-wise house call in an effort to make the inside and outside of your home more efficient and helping you to lower your water bill.

You can sign up online for an appointment here:

http://cityofpetaluma.net/wrcd/waterwise-housecall-signup.html

or call 707-778-4507

Once you schedule an appointment a water efficiency professional will check the following areas:

Indoors:

• Inspect faucets, showerheads, toilets and other water using equipment for flow rates and leaks
• Provide free low-flow aerators, kitchen faucet swivel heads, and showerheads if needed
• Share details about how you can qualify for our high-efficiency toilet and clothes washer rebates
• Outline the best and most practical ways to maximize your water savings

Outdoors:

• Test sprinkler system and look for leaks and broken sprinkler heads
• Identify areas of the system that may need maintenance or upgrades
• Discuss what soil type you have and how it affects watering needs
• Provide an efficient irrigation schedule for your timer if you have one. They’ll even program the timer for you
• Provide free low-flow hose-end nozzles if needed.

The inspection should take about 45 minutes to an hour and once it’s completed, you’ll receive a report of your home's water using fixtures, appliances, and irrigation equipment. You’ll also receive a certificate to display if and when you decide to sell your home that shows the home is water efficient.

In order to qualify for the City of Petaluma’s High Efficiency Toilet Rebate and High Efficiency Clothes Washer Rebate program you’ll need to have a water-wise inspection completed.