Friday, September 28, 2012

Your real credit score: don't be fooled! Los Angeles refinance expert explains

In this short video, Bill Rayman, Los Angeles refinance and mortgage expert, exposes some of the common myths about credit scoring. How do credit reporting agencies really operate? How is your credit score calculated? Why is one credit score sometimes different from another one? How do you protect your credit from mistakes, fraud, and identity theft? 
Bill Rayman answers all these questions and explains what information you need in order to be an informed and empowered consumer, and where to obtain that information. He explains what knowing your credit score does and does not do for you, and what is more important to the consumer than a credit score. 

Wednesday, September 26, 2012

Trapped in your home? Los Angeles mortgage rate expert explains your options

In this 13 minute video, Los Angeles mortgage rate expert and broker Bill Rayman addresses home owners who feel they are trapped in their homes, either because they are underwater, or don't have enough equity to refinance or sell.
If you feel you are stuck under a mortgage you don't want, Bill Rayman can help you navigate different strategies that may help you to purchase the home you want. 
Perhaps you've been following mortgage rate trends on our blog, or elsewhere, and are wondering how you can take advantage of the historic low mortgage rates. Bill lays out some of the lesser known strategies and opportunities available to many homeowners in Los Angeles.
If you have had a bad experience with a bank, do not give up hope. A mortgage broker can often help you find loans you qualify for, even when a bank has turned you down. Bill Rayman works for his client's best interests, not for a bank. Give him a call to see if he can help you reach your goals for a mortgage in Los Angeles.

Monday, September 24, 2012

Record lows this week: mortgage rates Los Angeles


Our Los Angeles broker posts mortgage rate news every week. This week, mortgage rates hit a new record low when 30-year fixed mortgage rate averaged 3.49%, down from 3.55% the week prior. The average 15 year fixed mortgage rate fell to a record of 2.77%, from 2.85 percent.
On Thursday of last week, mortgage rates plummeted to the lowest rate on record, responding to action from the Federal Reserve intended to stimulate the housing market. The Federal Reserve revealed last week its plan to purchase $40 billion per month in mortgage-backed securities. The hope is that this will stimulate job creation and lower the cost of borrowing. 
The real estate market is expected to be recovering after more than three years of declines. Home sales rose to a two-year high in August, the National Association of Realtors reported on Wednesday. Single-family housing starts advanced at the best rate since April 2010, the Commerce Department said.

Saturday, September 22, 2012

Home Equity Loans explained...understand mortgage rates and loans in Los Angeles

Bill Rayman, expert on Los Angeles mortgage rates, explains Home Equity Loans, also called HELOC in easy-to-understand language. Bill Rayman is a Los Angeles mortgage broker, who can offer information and consultation services to assist you in determining if this specific type of loan, or another type of mortgage loan may be the best option for your specific situation and goals. 
Bill Rayman helps Los Angeles area home buyers navigate the market, analyze their financial situation, and find the best rates available. Give him a call today to learn how to make the most of your mortgage investment. 

Tuesday, September 18, 2012

Warning: Mortgage Fee Hikes Ahead? (mortgage rates Los Angeles)


A new report expected this week may be a new factor affecting borrowers concerned with Los Angeles mortgage rates. Federal housing regulators are expected to release a report that may reveal new mortgage fees ahead. 
The Federal Housing Finance Agency may be modifying the way it calculates fees that guarantee credit risk to depend on state-specific default risk. Last month Fannie Mae and Freddie Mac increased the guarantee fee they charge to investors that back the bonds they sell. The fee went up by an average of 10 points.  The fee changes are intended to limit the credit risk associated with mortgages, after costing taxpayers $188 billion. 
The FHFA is releasing a study and seeking input about the possibility of imposing upfront fees in states where risk is higher than the national average. The fee is designed to equalize regional differences in the pricing of mortgage guarantees. This revision, if implemented, will mark a major change in the way the guarantee fee works.