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Washington state to implement e-recycling law.

11-17-09
Frank Festa NJ Estates Real Estate Group
Frank Festa NJ Estates Real Estate Group: Real Estate Agent in Warren, NJ
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  • Office: (908) 561-6499
  • Mobile: (908) 295-1639
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The Washington state SenateThe Washington State Senate is the upper house of the Washington State Legislature. The body consists of 49 Senators, respresenting an equal number of districts across the state, each with a population of nearly 120,000.

..... Click the link for more information. has passed a bill that aims to boost recyclingrecycling, the process of recovering and reusing waste products-from household use, manufacturing, agriculture, and business-and thereby reducing their burden on the environment.
..... Click the link for more information. of electronics in the state.

NJEstates.net

Senate Bill 6428 passed the Washington state Senate by a vote of 38-11 and the House by a vote of 69-29.

The bill requires electronics manufacturers to develop and fund an electronics recycling program in the state that uses community drop-off centers run by retailers, nonprofits and government agencies.

In a press release, Rep. Brian SullivanBrian Sullivan is a women's basketball assistant coach at Bellarmine University. Bellarmine is an NCAA Division II program that competes in the Great Lakes Valley Conference. This is Sullivan's second stint with the program, following one season with the Lady Knights in 2003-04.
..... Click the link for more information. (D-Mukilteo), chair of the House Natural Resources, Ecology and Parks Committee and sponsor of the House version of the bill, says, "The beauty of this approach is that it makes recycling simple and free for consumers and links electronics recycling with electronics manufacturingThis article presents a typical manufacturing process of an electronic assembly.

Component manufacturing Components such as resistors, capacitors and integrated circuits are generally made by specialized contractors.

..... Click the link for more information., allowing companies to save money if they reduce their use of toxic materials."

The bill was supported by Hewlett Packard, Amazon.com, Wal-Mart and the Washington Retail Association as well as by local governments and environmentalists, according to according to
prep.

1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3. Sullivan.

The bill has been sent to Gov. Christine Gregoire Christine O'Grady "Chris" Gregoire (born March 24, 1947) is the Democratic governor of the U.S. state of Washington. Gregoire's election to the office in 2004 was notable for her historically slim margin of victory over Republican Dino Rossi, who had appeared to defeat Gregoire on for her signature.

According to the bill, manufacturers must participate in an independent plan or the standard plan to implement and finance the program no later than Jan. 1, 2009, and must register with the state by Jan. 1,2007, and annually thereafter.

Manufacturers must submit their initial independent plans or the standard plan by Feb. 1, 2008, according to the bill. The state Department of Ecology will review each plan.

Paul Stillwaggon,
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Jersey City, NJ, 07302 - For Sale By Owner

10-26-09
Jane Peterson
Jane Peterson: Real Estate - Other in Kapolei, HI
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Exquisite one bedroom luxury condo located within yards of new Grove Street Path entrance. The condo features an open contemporary layout with a southern exposure and panoramic views. The kitchen has all stainless steel appliances, exquisite marble flooring and granite countertops. The master bath features Botticino marble tiling. Oak hardwood flooring is throughout the main living area with a carpeted bedroom. The condo is located on the 7th floor with direct access to fabulous building amenities (see 7th floor amenities below). To directly access this property, use this shortcut: http://www.fizber.com/new-jersey-buy-condo-townhome-co-op-home-11648565.html

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New FHA condo rules - Tax credit extension? - Min down pmt to 5%?

10-10-09
Paul Luykx
Paul Luykx: Loan Officer in Jersey City, NJ
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  • Office: (800) 405-0607
  • Mobile: (917) 209-1111
There are new FHA condo rules. Just like with the new Fannie rules you will be disappointed if you think it will make things easier. Details. // Speaking of FHA, it looks like the minimum down payment may go to 5%. // Rates eased yet further this week. // Basically 2 weeks left for sales that need to close by Nov 30th to take advantage of the tax credit! // Make it good week folks! - Paul

What is credit repair?
Credit repair seeks to permanently remove derogatory items that will otherwise depress credit scores on a long-term basis. In essence it involves delivering proof of inaccuracy OR requesting creditors to deliver the proof of accuracy. If they cannot deliver, or will not (happens a lot), the items in questions will likely be removed. The whole process can deliver drastic score improvements and while conceptually simple - the devil is in the details. Contact me to make your clients "mortgage ready" !
New FHA condo rules
- Spot approvals eliminated
- No more than 30% of units can be financed with FHA loans
- 50% pre-sale requirement for new projects
- At least 50% of units must be owner occupied
- Read more

Long-term rates easing further
The 30-yr fixed is down from 4.94% to 4.87% with 0.7% fees and points this week. This time last year the 30-yr fixed rate was 5.94%. Freddie Mac rate surveys
Home Buyer Tax Credit extension likely
Extending the First-Time Home Buyer Tax Credit, due to expire at the end of November, is high on the Democratic Congressional to-do list, legislative aides said. Read more. (Don't count on the same terms, if and when. Last year's "tax credit" was nothing more than an interest free loan - P)
Available
- Direct lender for FHA, Fannie, Freddy, VA, USDA, Jumbo, and other loans
- Same day loan decision (pre-approvals)
- 30-day closes (45-days for FHA)
- Condo (conversion) financing services. Information
- FHA loans down to 560 Fico
- 50-70% LTV stated income loans (600-700 Fico needed)
- 90% LTV Fannie Mae condo loans
- Loans for non-residents
- Rehab and construction loans
- Non-warrantable property loans
- Reverse mortgages
- Commercial loans
Contact me for excellent service.

____________________________________

"When you have a dream, you've got to grab it and never let go"
Carol Burnett
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Blog_tag

FHA Fico still at 620, but... - HB Tax Credit gridlock on the horizon - Rates down again

09-20-09
Paul Luykx
Paul Luykx: Loan Officer in Jersey City, NJ
  • view my blog
  • Office: (800) 405-0607
  • Mobile: (917) 209-1111
The industry standard for FHA loans remains at 620 - for now. It appeared for a little while the standard would be raised to 640, 660 even. (Regardless, I do have FHA and other solutions for scores as low as 500). /// You can still count on FHA standards increasing however. /// 203(k) loans remain the single best (and virtually only) option for rehab/renos. New alternatives are expected soon. Stay tuned. /// There is gridlock on the horizon due to the homebuyer tax credit which requires sales to close by the end of Nov. 30th. Get your mortgages fully pre-approved to minimize the chances of delays! /// Make it good week folks! - Paul
Federal incentives coming for short sales, deeds-in-lieu/default
The mortgage servicing industry in coming weeks will see details of an incentive program aimed to prevent foreclosures by encouraging servicers to pursue short sales and deeds-in-lieu of foreclosure. Read more
Homebuilder confidence up
Low mortgage rates are aiding new home construction. Housing starts for single family homes have increased consecutively over the five past months ending in July, although starts eased slightly in August. Moreover, homebuilder confidence improved for the third straight month in September, with all four regions showing positive gains, according the National Association of Home Builder’s Housing Market Index

Long-term rates down for 3rd consecutive week
"Interest rates for fixed-rate mortgages eased for the third consecutive week and remained at 3-month lows," said Frank Nothaft, Freddie Mac vice president and chief economist. "Interest rates for 30-year fixed-rate mortgages have averaged just above 5% through mid-September, which is roughly 1% below last year’s average and suggests that 2009 may reach a record annual low since the Freddie Mac rate surveys started in 1971.
Available
- Direct lender for FHA, Fannie, Freddy, VA, USDA, Jumbo, and other loans
- Same day loan decision (pre-approvals)
- 30-day closes (45-days for FHA)
- Condo (conversion) financing services. Information
- FHA loans down to 560 Fico
- 50-70% LTV stated income loans (600-700 Fico needed)
- 90% LTV Fannie Mae condo loans
- Loans for non-residents
- Rehab and construction loans
- Non-warrantable property loans
- Reverse mortgages
- Commercial loans
Contact me for excellent service.
____________________________________

"What is not started today is never finished tomorrow"
Johann Wolfgang von Goethe (1749-1832)
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Blog_tag

(New) problems and opportunities

07-18-09
Paul Luykx
Paul Luykx: Loan Officer in Jersey City, NJ
  • view my blog
  • Office: (800) 405-0607
  • Mobile: (917) 209-1111
I don't like delivering bad news, and I know you don't like receiving it (I get unsubscribes). At the same time I want to tell you what I see: There are some serious (additional) problems right now, directly affecting real estate. It looks to me like it's going to get a lot worse worse before it gets better. Yet, when doors close, others open - there are resulting opportunities as well (See below). Here are some of the reasons/symptoms:
- 1.5 million homes in foreclosure
- Appraisal chaos due to new ordering rules and short sales
- High, and still increasing unemployment. Mortgage aid for unemployed

- Collapsing commercial market. Commercial paper falls most ever

- Slow implementation by lenders of loan modification iniatives. Articles
- Lack of ability or willingness to lend. What to do with the Fed
- The Case-Shiller index continues to point towards further declining markets.

What this means in practical terms

- Appraised values as much as 30-40%(!) low, especially for refi's

- Restrictive lending environment, and tightening up more

- Construction loans virtually unavailable (unless hard money)

- Hard money lenders are raising lending criteria and pricing

- Conventional financing maximum is 90%ltv

- PMI requires 680 Fico

- Higher lending standards and erratic pricing for commercial loans

Good news, opportunities

- Investments with good cash on cash returns available

- Affordable price levels - especially for first time home buyers

- First Time Homebuyer tax credit (must close by Nov 30th!)

- Rehab homes (foreclosures) can be bought with 203(k) loans
- FHA loans, including FHA rehab loans (203k), readily available
- Fannie Mae REO opps with Prospect Mortgage Homepath (rehab) loans
- Higher Fico's get lower rates
- Rates are not likely to increase (I think)

Available
- Direct lender for FHA, Fannie, Freddy, VA, USDA, Jumbo, and other loans
- Same day loan decision (pre-approvals)
- 30-day closes (45-days for FHA)
- Condo (conversion) financing services. Information
- FHA loans down to 560 Fico
- 50-70% LTV stated income loans (600-700 Fico needed)
- 95% LTV Fannie Mae condo loans
- Loans for non-residents
- Rehab and construction loans
- Non-warrantable property
- Reverse mortgages
- Commercial loans
Contact me for excellent service.
____________________________________

"To accomplish great things, we must not only act, but also dream;
not only plan, but also believe."
Anatole France (1844-1924)
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