Zulma Villegas

New to Orange? Zulma's Favorite Spots in the OC- Salon Gabriel Anthony

If you're new to Orange and in need of a great new salon then Salon Gabriel Anthony is your best bet. Although I've lived in Orange County for three years now, I still hadn't found a stylist or salon that I absolutely loved. That is of course, until I found Salon Gabriel Anthony which I absolutely love!

I actually found Salon Gabriel Anthony by accident while having lunch in Old Town Orange in December 2008. I was looking for a former builder that was now gone and in it's place was this hip new salon. I walked in and was greeted by the owner, Gabriel Anthony, who was kind enough to let me know where the previous tenant had gone. Unhappy with my current cut I looked around this gorgeous salon and scheduled an appointment with Gabriel.

I walked out of that salon a week later with an absolutely perfect bob and a salon I love. The salon itself is hip and trendy and a welcome addition to historic Old Town Orange. The owner, Gabriel, is absolutely fantastic. He strives for perfection in everything he does and is committed to giving his clients the best possible style, service and atmosphere.

Salon Gabriel Anthony is located in historic Old Town Orange, on the corner of Glassell and Almond. For more information call (714) 532-1332

Technology is definately changing the way we work, socialize, shop and even date. And for those of us that don't catch on to all the new technology we can get left behind. No other industry in the world is more impacted by all this new technology than real estate. It impacts the way we enter and market our listings in the MLS to the way we receive potential leads. Agents in their 20 somethings have no problem catching on to all the new websites, MLS changes, supra keys or cell phones. But for those of us that are part of Generation X (like me) or the Baby Boomers (think your grandparents), some of the new technology can be somewhat frustrating. But many agents are still struggling to maintain a successful real estate career in today's market.

The reality is, in order to keep up with todays' generation of buyers and sellers, Generation X & Y, you definitely need to keep up with technology in order to effectively do business with them. Afterall, Gen Y numbers nearly over 70 million and they are completely tech savvy. They're all armed with Blackberrys, laptops, iPhones, among many other gadgets. And trust me, they're plugged in 24/7.

Yet early in my real estate career, I had taken a course from a very successful real estate mentor that said, "Text messaging and email are for losers. Rain makers use the telephone." So that message stuck and I vowed never to use those two mediums to communicate with clients, after all I wanted to be a rain maker.

Now, I myself am from Gen X but didn't initially utilize technology in my initial contact management system. As my database grew, I started helping a lot of young families or singles in their mid twenties and thirties and came into a rude awakening. Although my initial contact with them was always either face to face (from an open house) or on the phone, I eventually started receiving emails and text messages by them from the handful. And when dealing with Gen Y, believe me they expect instant communication. They all have Blackberry's and iPhones and expect their Realtors and lenders to have the same. If I didn't respond to them within 10-15 minutes they started calling. So I did what my clients did. If they text, I text...if they email I email...if they IM, I IM....if they add me as a Friend on Facebook..I accept. OH and on occassion I Tweet. And you know what? That type of communiaction is not for losers...it's for those of us that want to keep up with todays generation of consumers. Think about it. Look at the facts:

• 97% own a computer
• 69% have a Facebook account and typically logon twice a day
• 76% use instant messaging
• 92% of those reported multitasking while IMing.
• 94% own a cell phone
• 56% own an MP3 player

So trust me, baby boomers, jump on the band wagon, talk to your grandkids, take classes or do whatever it takes to learn today's technology. If you don't, you leave, you'll be left in the dust.

What is the Truth-In-Lending Disclosure?

Borrowers can expect to see a Truth-In-Lending Disclosure (or TIL) shortly after they apply for a mortgage. The TIL provides information about the loan and it is required by federal law. It provides information on the cost of your credit so that you may compare those costs with several different lenders.

Why is my Annual Percentage Rate (APR) different from the rate I'm locked at?

The annual percentage rate (APR) is the cost of the loan in percentage terms and includes private mortgage insurance, and prepaid finance charges (loan discount, origination fees, prepaid interest, and other credit costs). The APR is calculated by spreading these charges over the life of the loan, thus resulting in a higher rate that the interest rate shown on the 'Note'.

Other items you can expect to see on the TIL are:

·Finance charges

·Amount financed

·Total Payments

·Payment Schedule

·Prepayment penalties

·Assumption Opton, if allowed

Why is the Amount Financed less than my actual loan amount?

The amount financed is your loan amount minus any prepaid finance charges (closing costs, that include origination fees, discount points, mortgage insurance (MI), and interest).

On November 12, 2008 the U.S. Department of Housing & Urban Development issued long-anticpated mortgage reforms that will help consumers shop for the lowest cost mortgage and avoid costly and potential harmful loan offers. This reform will require, for the first time ever, that lenders and mortgage brokers provide consumers with a standardized Good Faith Estimate (GFE) that clearly discloses key loan terms and closing costs. It is estimated that this new regulation will save consumers nearly $700 at the closing table.

Very little has changed about the process Americans endure when they buy and refinance their homes since 1974. The new HUD reform will improve disclosure of key loan terms and closing costs consumers pay when they buy or refinance a home.

Fact Sheet on HUD's Final RESPA Rule:

• For the first time ever, HUD will require mortgage lenders and broker to provide borrowers with an easy-to-read standard Good Faith Estimate (GFE)that will clearly answer the key questions consumers have when applying for a loan: What's the term of the loan?; Is the interest rate fixed or can it be changed?; is there a pre-payment penalty should the borrower choose to refinance at a later date?; is there a balloon payment? What are total closing costs?
• Loan originators will be required to provide borrowers their Good Faith Estimate three days after the loan originator's receipt of all necessary information. To facilitate shopping, loan originator's could not require verification of GFE information (tax returns, etc.) until after the applicant makes the decision to proceed.
• HUD will allow lenders and settlement sevice providers to correct ptential violations of RESPA's new disclosure and tolerance requirements. Lenders and settlement providers will now have 30 days from the date of closing to correct errors or violations and repay consumers for overcharges.
• HUD will require payments to mortgage brokers (often called Yield Spread Premiums) to be disclosed in a more meaningful way. These payments are directly dependent on the interest rates consumers agree to. To ensure that HUD's new requirement will not create a consumer bias against brokers, the Department did rigorous consumer testing and found the new Good Faith Estimate helped consumers to select the lowest cost loan nine out of ten times, regardless of whether the loan was originated by a lender or broker.
• To help borrowers compare their Good Faith Estimate with their HUD-1 Settlement Statement, each designated line on the final HUD-1 will now include a reference to the relevant line from the GFE. Borrowers will now be able to easily compare their estimated and actual costs in the same manner many commenter's suggested.

To read more on all the changes and to read HUD Secreatry Steve Preston's comments visit www.hud.gov.