August 22nd, 2008 12:23 AM


Dear Friends,

The title to our post this week is ODDS & ENDS. I remember this term being used during the old JEOPARDY television show in the 1960's. The host of the show, Art Fleming had a unique and distinctive voice tailor made for JEOPARDY. I also enjoyed the classification of answers by the heading POUPOURRI. I thought this was a funny word and I never knew what it meant.  I liked the pronunciation - the sound of it. At this stage in my life, I'll use both terms in my desire to better acquaint myself to what life ultimately means. I guess I can say my life is full of ODDS & ENDS with a little POUPOURRI on the side!

Next week I might delve into my fascination with the Hollywood Squares & the Match Game. Where are the likes of Paul Lynde & Charles Nelson Reilly in American comedy today? We all need to laugh a little!

Well, I still must remind myself this is a mortgage blog, but after 26 years in the mortgage business, I feel compelled to write about other adventures in order to escape the current doom & gloom of it all. Please forgive me, as my intention is to do no harm. I hope I haven't JEOPARDIZED my relationship with you. Perhaps I consider this a 'catharsis', probably similar to a quote attributed to a presidential candidate recently, suggesting delegates, in order to implement a 'catharsis' should vote on the convention floor even though the odds of winning the nomination for this particular candidate is unlikely. This activity once accomplished is truly a release, of not looking back. We are encouraged to look forward with no regrets. Que sera sera!

I'm also aware of my natural optimistic tendencies which have been challenged by the marketplace at times, due to continued dismal financial news. However, I wake up and start my ascent into believing that all things are possible and miracles do happen! Indeed at MoneyTeam and in my life, they certainly do!


Mortgage rates are lower this week on average from last week. MoneyTeam is offering a 30 Year Fixed Rate for 6.375% at NO POINTS. A 15 Year Fixed Rate goes for 5.750% at NO POINTS on CONFORMING/CONVENTIONAL loan requests. These loans are for borrowers providing a fully documented application.


If you are unable to provide tax returns in order to qualify for a regular conventional or FHA loan, we offer an alternative. You must have at least a 680 middle FICO score. Rates for this mortgage product are similar to a 'fully documented' loan. Please call our office for more information.


MoneyTeam provides competitive rates on refinance or purchase loan requests for these type of loan requests.


We are beginning to see more loan requests for these types of loans. MoneyTeam is approved by numerous sources capable of providing the lowest rates and the best loan for your particular situation. Give us a try!.


Check our previous TEAMBLOGS for our  SUMMER APPRECIATION SALE, for details. Our SALE is extended only until FRIDAY, AUGUST 29TH.


Our office will be closed at 12 Noon on Friday August 29th. We will reopen on Tuesday, September 2nd at 12 Noon. We wish you, your family & friends a safe Holiday Weekend! 


Just a reminder, in order to apply for a mortgage loan nowadays, you must BE PREPARED. Have in your possession the following items in order to expedite the processing of your loan:

1. Last 2 Years 1040's - 2007 & 2006 Tax Returns

2. Last 2 PayCheck Stubs

3. Last 2 months Bank Statements showing reserves in the account. Do your best in saving at least 3 months worth of mortgage payments for reserves.These monies should be 'seasoned', or in your account for at least 2 months time.

If your mortgage payment with property taxes and hazard insurance equals $2450, you should have at least $7350. Using the same example, if your loan is a purchase, plan to have the 3 months mortgage reserves, the down payment & the closing costs in your account - untouched - for at least 2 months before you decide to buy. Please do not hesitate to call our office if you have any questions or concerns in regards to this equation.


The national average for a gallon of gas has gone down! It's less than $4.00 a gallon. The current national average is $3.70. This is almost $1.00 more than a year ago. AAA offers the facts. Check their website for more information.


I was happy to receive an email from the Associate Producer of a film I viewed earlier this Summer. The Human Experience has won several awards at various Film Festivals across the country. It is my understanding the film won for Best Documentary at the Maui Film Festival - Honorable Mention at the SoCal Independent Film Festival and was given an award at the Sedona International Film Festival. Please check their website at for additional information about this passionate film.



I was pleasantly surprised to receive an email from an old friend of mine. She was a neighbor for many years and I've lost touch for awhile as I've been embroiled overcoming the 'trials & tribulations' of the mortgage business. If you are a reader of this BLOG, you are painfully aware of the financial 'roller coaster' ride most Americans have been on since the beginning of this year. Well, this dizziness truly is no excuse for becoming a recluse and avoiding contact during the past several months.

My friend Luise Heath is an actress. I've seen Luise provide outstanding theater performances throughout the years in Los Angeles. I've always noticed her Tony worthy portrayals of gritty and intriguing characters. The play, Ex's Exes, is centered around a conversation among two women discussing their former husbands and coming to terms with their current friendship. Luise's character also suffers from bouts of Alzheimers', which is truly sad but can be a blessing in disguise in eliminating painful memories one is unable to confront. This play was a poignant 'slice of life' that provides healing for both women. While provocative in scope, I'm glad I went! I can't wait to see Luise again - on Broadway!

Please contact Luise Heath at The Attic Studio/The Attic Theater in Los Angeles.



It seems as though the Governor and the Legislature are unable to come up with a budget. The Governor also has mentioned the possibility of RAISING TAXES in order to compromise to end the stalemate. I mention this activity in passing, as I will add my voice in a debate that only common sense can solve. Stay tuned.

Thanks Again  

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Posted by Jesse Dorado on August 22nd, 2008 12:23 AMPost a Comment

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