Foley Mortgage

J & J one shot and I'm good

Mortgage Rates Spike Upward! - But don't Panic A shift from all-time lows should not cause alarm. Despite the recent spike in mortgage rates, there’s no need to fear. Rates have increased over the past week, but you can still take advantage of historically low mortgage rates.... We are moving away from all-time low rates because of the new congressional relief bill and vaccination distribution. Our advice is if you see a rate you like lock it in.

Is now a good time to Fix and Flip homes? Listen to what contractor Frank Artigioni says about flipping homes. https://lnkd.in/gv25FDw

Trotting today so we can Turkey tomorrow! Although virtual this year, all proceeds from the 16th Annual Silicon Valley Turkey Trot always go directly to local charities including Second Harvest of Silicon Valley, Healthier Kids Foundation, and more. My sister and I are happy to be able to participate once again this year!

Aloha! I am on my way home. I must admit I have enjoyed working from Maui for over three weeks. This photo is fitting since Hawaii is the land of rainbows I also included a photo from my final night dinner at Kimo’s Lahaina delicious!

Happy Halloween everyone! There really is nothing like fall in Maui. Over the weekend I visited a pumpkin farm in Kula with an ocean view and got a taste of sunshine with a Dole Whip in Lahaina Town. Wishing you all a safe and happy Halloween this year!

Happy Halloween everyone! There really is nothing like fall in Maui. Over the weekend I visited a pumpkin farm in Kula with an ocean view and got a taste of sunshine with a Dole Whip in Lahaina Town. Wishing you all a safe and happy Halloween this year!

Do not construed that this is a Micky Mouse organization

Dynamic Duo - Cheryl and Melissa have been cranking out the 30 year mortgages. Clients cannot resist the extremely low rates.

Our newest hire just learned something new! Acacia just sent her first fax. As times continue to change, we often forget that while the younger generations bring new skills to the table, they sometimes lack knowledge regarding older technologies and practices. We also know that no one employee can have it all mastered. Whether it be something as simple as sending a fax, or something more complex, we are happy to teach and learn together!

Check out our sweet listing in Cambrian Park https://www.mlslistings.com//1401-annapolis-way-s/11040003

If you haven't already, please welcome Trista Gladstone (left) and Acacia Alvarez (right) to Foley Mortgage. Click on their picture for bio.

Hello all, You may be wondering how mortgage loans are being effected by 4 weeks of "shelter in place". The good news is that most loan rates remain close to their 50 year lows. Volatility in interest rates has definitely increased, though sometime changing once or twice in a single day. This is where Cheryl's knowledge and experience can guide you when locking in a rate. These are some of the programs that have been affected by nervous lenders as they take a wait and see app...roach to home values and growing unemployment. ~ JUMBO LOANS: These are loan amounts above $765,600 in most Bay Area counties. These loans have become hard to find unless all of the qualifiers are stellar. ~ CONSTRUCTION & RENOVATION LOANS: What may have penciled out for a contractor 2 months ago may not work today. ~ FHA & VA LOANS FOR LOW FICO SCORES: Nervous lenders are worried about the possibility of foreclosure as the economy slows. ~ NON-QUALIFIED MORTGAGE LOANS (Non QM): These loans are similar to the sub-prime loans that caused the great recession. ~ HIGH BALANCE CONFORMING: We are still doing a lot of these loans with amounts between $510,401 - $765,600 but lender guidelines are stricter. We at Foley Mortgage are expecting a continuing of market tightening until it becomes clear to how this pandemic will effect the economy and property values.

Here are some coronavirus mortgage relief options or talk to our in house mortgage expert; Cheryl Meheula - 408-264-9000 www.knowyouroptions.com/covid19assistance www.freddiemac.com/about/covid-19.html

Mortgage Rates Hit All-time Low -- AGAIN March 5, 2020 The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history. Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force.

Cheryl visiting the LBJ library in Austin today with her daughter. She already voted, have you?

Young Couple Loses $775K in Home Buying Cyber Scam Ways to Avoid Escrow Fraud Use an established & well known escrow company.... You should receive your printed wiring instructions (money transfer) in person when signing your loan or purchase documents. -- ANY CHANGES TO THESE INSTRUCTIONS VIA EMAIL SHOULD BE MET WITH SUSPICION. If you receive an email call your escrow officer. Do not call the phone number on the suspected fraudulent email, but from the original paperwork you received directly by hand. When you are wiring the money ask your bank where the money is going. If the money is going to an individual rather than a corporate identity, or the payment requires using a person-to-person money transfer consider it fraudulent. https://www.nbcbayarea.com//young-couple-loses-7/2241473/