Perpetual Family Calendar

Create a calendar you can change every month and customize it with your family’s favorite holidays and events.

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Step 1: Have a Lowe’s associate cut the plywood into two 2-foot squares. You’ll need one per calendar. Pick a main color (we used Twist of Lime) and paint the board’s front. 

Step 2: Using scissors, cut two strips of wall base into 3-inch-square tiles; you’ll get 16 per strip for a total of 32. Trace and cut seven 3-inch circles out of the remaining strip. 

Step 3: Mark a spot in the center of each tile, 1⁄2 inch from the top, for a nail hole to hang them. Use an awl or drill to punch a hole on the mark.

Step 4: Paint the tiles with two coats of paint. Then use paint or a permanent marker to write numbers on each tile. Use the special event stencils to trace holiday designs on the circles.

Step 5: Create a template with kraft paper and mark where nails and chalkboard paint should go. Then hammer in the nails and remove the paper. Tape off a rectangle at the top with painter’s tape and apply two coats of chalkboard paint. 

Step 6: When the chalkboard paint has dried for 24 hours, write the month in chalk and arrange the tiles on the board.

How Small Cutbacks Lead to Great Savings

House Prices: Annual Appreciation for Last 25 Years

Will 20% Soon Be the Minimum Down Payment on a Home?

Several government agencies are reviewing data to determine what will be the minimum down payment required under the new Qualified Residential Mortgage (QRM) guidelines scheduled to be revealed in the next few months. In the original Mortgage Market Note issued by the FHFA, it was suggested that loan-to-value (the percentage of the overall purchase price which was being borrowed) was a major factor in determining if a loan would default:

“For most origination years, requirements for borrower credit score and loan-to-value ratio are the factors that most reduce the ever-90-day delinquency rate of mortgages acquired by the Enterprises that would have met the proposed QRM standards.”

The note then made the following proposal:

“An LTV ratio qualified residential mortgage must meet a minimum LTV ratio that varies according to the purpose for which the mortgage was originated. Forhome purchase mortgages, rate and term refinances, and cash-out refinances, the LTV ratios are 80, 75, and 70 percent, respectively.”

Basically, the original note suggested that a 20% down payment should be the new guideline. We realize that there has been much debate on this issue since and that the minimum down payment required under the new QRM guidelines will probably be less than 20%. However, we can’t know for sure.

Bloomberg reported last week:

“The six regulators drafting the separate QRM rule, including the Department of Housing and Urban Development, the Office of the Comptroller of the Currency and the Securities and Exchange Commission, must decide whether to include such a requirement — and whether to make it less than the 20 percent they originally proposed.”

Will it be more difficult to qualify for a mortgage after the new QRM rules are announced? Probably

As David Stevens, President of the Mortgage Bankers Association said during a speech in Washington on Jan. 16:

“I have consistently warned of the regulatory tidal wave to come and it’s finally upon us. These changes will impact business operations and the future of mortgage access for years to come.”

High End Sellers - GOOD NEWS!

Do you have a luxury home?  Now may be the time to look at selling - let me know if I can tell you about the luxury market and how I can market your home to its best advantage.

Housing Metrics Compared to Last Year

7 Things To Know When Investing in Trust Deeds

Posted by Ken Meyer on Thu, Jan 10, 2013

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Whether you are a seasoned trust deed investor or you are considering your first trust deed investment, there are critical considerations to make in ascertaining that the investment is right for you. Its very important to familiarize yourself with trust deed investing before you make the final decision. Make sure to review available notes, and select properties and locations you are comfortable with. 

Here are 7 important elements to pay attention to before you invest:

1. Market value, equity in the property, and the marketability of the collateral.
2. Borrower’s financial standing and creditworthiness.
3. Knowledge, experience and integrity of the Mortgage Loan Broker through whom the transaction is conducted.
4. Escrow process involving the funding of the loan or the purchase of the note.
5. Documents and instruments describing, evidencing, and securing the loan.
6. Loan servicing provisions, authority and compensation.
7. Recovering your investment when the borrower fails to pay.

When you're ready to pull the trigger with your trust deed investment, you'll then want to request a complete due diligence package which will include a certified appraisal and other documents that will allow you to better evaluate your trust deed investment. Then make sure to thoroughly read, sign, and return ALL required forms and agreements. Your signed forms and wired funds will then be sent to an escrow account.  Once you receive the closed loan package, interest will begin to accrue. You will then be able to monitor all payments online and receive monthly statements. Good luck!