Ricardo Bueno's Blog

Here's a video I came across and loved and just had to share :)

El servicio se llama "Opt-Out".

Bajo crédito justo que divulga el acto (FCRA), el crédito de consumidor que divulga a compañías se permite incluir su nombre en las listas que son utilizadas por los acreedores o los aseguradores dichos para hacer las ofertas firmas de crédito o del seguro que no son iniciadas por usted (éstos se conocen como "ofertas firmas").

El FCRA sin embargo también provee que usted tiene el derecho de parrar las llamadas (Opt-Out). Esto evite que el crédito de usted no se divulga a compañías que archivan su informacion para solicitar oftertas firmas. Si usted no ha tomado esta opcion, quizá la es tiempo . ¡Es para que uno no tenga el mal gusto de estar recibiendo (10+) diez ofertas de la tarjeta de crédito en el correo! No hay porque andar batallando para recoher el correo.

Pienselo...

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Under the Fair Credit Reporting Act (FCRA), Consumer Credit Reporting Companies are allowed to include your name on lists that are utilized by said creditors or insurers in order to make firm offers of credit or insurance that are not initiated by you (these are known as "Firm Offers").

The FCRA however also provides you with the right to "Opt-Out" of this which essentially prevents Consumer Credit Reporting Companies from providing you with with credit file information from such  firm offers. If you haven't opted-out...maybe it's time you do so. I for one don't like getting (10+) ten plus credit card offers in the mail and I'm sure you don't either! This will save you a trip back and forth from the mail-box...

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If I'm a homeowner facing foreclosure, understandably I would feel like the world is closing in on me. Creditors are calling, the electric bill is due and I can barely cover my phone bill and have enough to buy a carton of milk. How do you expect for me to pay for my mortgage?

Eventually you reach a tipping point...a point of desperation and you look anywhere for help! But be careful who/where you turn to for help. Watch the following video by Freddie Mac...

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Mortgage Advisor

Direct: 323.810.2175 | E-mail: ricardo (at) ricardobueno (dot) com

Para los que me conocen, yo trabajo el área de Los Angeles; he refinanciado y e dado varios prestamos para compra de casa ha mi ser humano.

Recientemente, le pregunte a un vecino en Cypress Park...

Pregunta: Que se siente ser dueño de una casa?

Respuesta: Pues como te diré? Se siente bonito...se siente orgullo. Mucha gente trabaja muy duro y apenas tienen para pagar la renta, y eso es triste. Saber que yo trabajo duro y para ser yo...dueña de mi propia casa. Eso es orgullo!!!
He cumplido una cosa muy grande y hoy mi propiedad vale medio millón de dolares.

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The House Committee on Financial Services issued a Press Release yesterday, December 14, 2007 on the passage of the new FHA Modernization Bill (S. 2338) in the Senate. From the Press Release:

“I welcome the Senate’s passage of their FHA legislation.  We are in agreement that this is an important action in dealing with our subprime challenges, and that we should act quickly so that the FHA can be a resource for people who can refinance their loans." Rep. Barney Frank, chairman of the House Committee on Financial Services

Some of the features of the proposed legislation include...

READ ON 

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Mortgage Advisor

Direct: 323.810.2175 | E-mail: ricardo (at) ricardobueno (dot) com

And if you haven't already,

The Science of Real Estate... Hmmm...

Well, if you watched Redfin's debut on the Today Show, you know that it clearly isn't anything genius! Just simple PR and nothing more! Ok, maybe that's putting it a little harsh... But the reality is, any good Agent already knows these things. It's blatantly obvious!

One of the hi-lights from the Interview with Glenn Kelman, President & CEO of Redfin.com:

• List your home on Craigslist.org

Duh! Marketing online is obvious!
Every Agent that cares about becoming a better Agent is well aware that online market presence is pivotal to one's success in today's market. They're not only advertising on Craigslist...they're puking their advertisements all over the world-wide web!

 

READ ON

 

 

Should I use a Home Equity Loan to pay off my debt?

Here's a quick exercise in determining whether this move makes financial sense...

You'll need a sheet of paper (or two), a pen (or pencil), a calculator (if you don't have one, it's basic math anyway), and the invoices/stubs for your monthly bills (if you pay them online, log onto your bank's website and print your set of monthly bills and the payments due).

The Exercise:

• Go through each of your bills and write a list that includes the name of the card, the monthly payment due for each account along with the total balance due right next to it. You want to go down this list and tally the totals.
  

For example:

• Go through each of your bills and write a list that includes the name of the card, the monthly payment due for each account along with the total balance due right next to it. You want to go down this list and tally the totals.
  

For example:
Macy's Credit Card                                          $45.50             $800
Bank of America Credit Card                             $145.45          $3,000
Best Buy Credit Card                                       $112.99          $2,500
American Express Credit Card                            $179.75          $7,000
Target Credit Card                                            $35                $400
Banana Republic Credit Card                               $65                 $700
Credit Union Credit Card                                  $185.00           $8,000
Medical Payments                                          $312.24          $14,500
       Total (Cash Outflow)                          $1,080.93         $36,900

Then what?

 

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Countrywide's (the nation's biggest U.S. mortgage lender) production for the month of November 2007 totaled $23 billion in total mortgage loan fundings; that's a drop in production of 40% since November 2006!

From Bloomberg.com:

"Countrywide Financial Corp., the biggest U.S. mortgage lender, said foreclosures doubled in November and late payments continued to rise amid the U.S. housing slump..."

This trend isn't too uncommon in light of the vast changes our market has seen. Though programs like the recent Rate Freeze plan are meant to ease these occurrences, it seems that our foreclosure numbers have more to do with a lack of income (people living beyond their means) or a curtailment of income than they do with recent ARM resets.

Continued from Bloomberg.com:

"Foreclosures measured by unpaid principal climbed to 1.3 percent from 0.6 percent a year earlier in the unit that handles billing and processing, the Calabasas, California-based lender said in a statement today. Late payments of at least 60 days advanced to 6.5 percent of unpaid balances from 4.2 percent.           

The increase reinforces evidence that the slowdown in the residential market is likely to continue into a third year..."

READ ON

 

 

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Mortgage Advisor

Direct: 323.810.2175 | E-mail: ricardo (at) ricardobueno (dot) com

And if you haven't already,