TEAMBLOG

Dear Friends,

Americans need cheering up!

The gloom and doom of our economy has made all of us sit up and notice! I know that I'll be drinking Green Beer with my good friends on St. Patricks' Day in a few weeks!

While the US economy has seen its better days, NOW is the time to evaluate your financial condition. Mortgage rates have been on a roller coaster as of late. The scourge of inflation with the decline of economic activity has elevated the probability of STAGFLATION!

The litany of bad news continues unabated.

1. Record foreclosures throughout the country.

2. Plummeting property values.

3. 'Credit Crunch' woes where mortgage money is hard to come by and where new, stringent underwriting guidelines are preventing established borrowers from refinancing an existing mortgage or purchasing a new home.

4. The chronic instability of the Stock Market with losses over 300 points in 1 day.

5. Mortgage Rate fluctuations due to the instability of the Bond Market.

6. The rise in unemployment throughout the country.

7. The value of the Dollar against the Euro has depreciated to its lowest level ever!

8. The rise in inflation this year has created havoc in the financial markets. $100 a barrel for oil, the higher cost of foodstuffs and other items has lowered consumer confidence.

There are additional shortcomings to our economy, however there's no need to pile on when all of these problems will eventually work itself out.

Please check our previous blogs where we discuss the 'silver lining' for JUMBO mortgage holders. We hope the new rise in Conforming Loan Limits to $729,750 will help to lower one's monthly mortgage payment.

Please check our "Luck Of The Irish Fee Sale". If you apply ONLINE, you can save at least $750 or more in loan fees. This 'Sale' ends on the 18th of March.

Please call our office for more details at 323-936-3232.

IN OTHER NEWS:

As a Cuban-American I am overjoyed at the resignation of Cuban President Fidel Castro and saddened of the continued loss of human values by the elevation of his brother, Raul Castro as the country's new President. Truly, many Cubans today continue to suffer at the hands of this repugnant regime which has killed numerous families and has destroyed the sense of hope and freedom we all hold dear.

Communism is a disturbing an immoral concept of political ideology that devalues the human condition. I pray for the day when true freedom conquers the hearts and minds of all Cubans.

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I also must mention the passing of William F. Buckley. This man elevated the tenets of political discussion to a dimension unbeknownst by our current mediocre batch of politicians in either Party.

While his Conservative perspectives were anathema to those with differing views, his ability to employ esoteric verbiage in debates of political ideology is an illustration of poetic exercise in perfection.

If you consider yourself a Republican, Democrat, Independent or Libertarian, the thoughts and the ideas espoused by Mr. Buckley are alive today. His mind and intellect will be missed.

Thanks Again

Dear Friends,

Last week's TEAMBLOG was a bit depressing. I mentioned the state of the US economy resembled the beginning stages of activity similar to the 1929 Crash and the Great Depression. Well, I must have been thoroughly depressed when I wrote my thoughts that day. I consider myself the eternal optimist but I was probably down in the dumps. All told, I was disturbed by the numerous foreclosures and the credit crisis which still has claimed countless of Americans in a struggle which seems unabated. I have several friends suffering this calamity and I'm truly distraught about the pain they must be suffering.

I also was reminded of the difficult task many mortgage brokers now have in submitting loans to lenders and investors during this 'credit crunch' meltdown. Loans which were approved just a few months ago are now scrutinized with a fine tooth comb. I had a file the other day that had over 32 loan conditions! Truly disturbing!This example has exacerbated the problem of TRUST in the marketplace to the detriment of everyone struggling to refinance or purchase a home.

Well, I sometimes become nostalgic of the easy days of loan originations where a wink, a nod or a handshake sealed the deal and secured the approval! Not anymore! Nowadays it seems as though you have to show a birth certificate, provide a High School Diploma, show evidence of one's bloodtype and recite 12 Hail Marys before you are approved for a loan! I neglected to mention you have to do 30 Jumping Jacks too!

Well, many lenders and investors that our company has known through the years are no longer around. I would say at least 2/3rds of our lending contacts are gone -but not forgotten. The consolidation of mortgage companies in this fashion will continue, sad to say. Nonetheless, in any business industry there will be innovators and new blood taking up the slack. I've heard it said, as the 'survival of the fittest'.

To that end, we are deeply humbled to be alive and still in operation for the past 18 years. The ups and downs we all face in our personal lives are reflected in the decisions we make by the paths we take.

No, no regrets, is advice we must embrace.

Please call our office at 323-936-3232 for any questions you might have in regards to your financial situation.

Let us help you & your family during these trying times.

Thanks Again

Dear Friends,

The chronic disturbing events that have transpired this month in the US Economy, has created a sense of bewilderment and agony reminiscent of a time not felt by many. The time in question, is also known as The Great Depression.

As an avid student of American history during my University years in the 1970's, the events we are involved in today are similar to the textbook beginnings of turmoil which destroyed the financial institutions in this country.

The lack of faith and trust in the ability of the US Government to restore financial health has deepened the pain and suffering many Americans are currently experiencing.

The facts are numerous. With record foreclosures, increasing unemployment, rising inflation, a devalued US Dollar, a volatile stock market, the loss of equity and depressed values in real estate, a credit crunch where monies are unavailable for loans or investments and the lowering of confidence levels throughout the American population - these are the events and factors promulgating a theme of hopelessness. Add into the mix the Iraq war, the horror of terrorism, the plight of our cities, gang violence, illegal immigration concerns, gas at $4 a gallon and a General Election to boot, you have a cauldron of issues which will manifest itself in a denoument similar to the Crash of '29.

While our financial investments are less in value than, let's say, 1 year ago, we must approach our economic problems with maturity. Spend less, save more, walk more, ride a bus, use mass transit, lower your thermostat, postpone major purchases, cook at home more, refinance your home to a lower fixed rate, be frugal and be prudent in your spending choices. This recipe will lower inflation in the long run, but most importantly, say a Prayer To The Man Upstairs.

Please call our office at 323-936-3232 when you are ready to REFINANCE or PURCHASE.

Let us help you & your family during these trying times.

Thanks Again