Ed's Blog

As the economy struggles to get back on track there is at least some good news.

Here are the top things that I'm seeing related to loans these days.

1) Interest rates are great-still! In fact we’ve been saving lots of people lots of money. You could say we’re stimulating the economy one borrower at a time. If you didn't refinance in 2009, you should get with us to see if it makes sense to now. Just hit the reply button and say “Refi?” You can say more if you want, but we're trying to make it E Z! We'll help you design your own personal stimulus plan.

2) People are buying. With home prices holding steady and rising in some areas, low rates, and a tax credit for both first-time buyers and move up buyers, were seeing a steady stream of buyers. If you or someone you know would like to take advantage of what many think is a strong buyers’ market, contact us. We’ll be glad to review your options and get you preapproved.

3) “Short refis” are here-for some. We're working on two short refis for a borrower as we speak. A short refi happens when you refinance with a lower loan amount than you currently owe and your current lender accepts a lower payoff than what you owe them. You end up with a smaller new loan at today's low interest rates. These are an alternative to loan modifications, short sales, or foreclosures. Contact us if you would like to discuss short refis or any of the other alternatives just mentioned.

Two other things before I sign out. I have been doing work as a consultant on legal cases related to lending practices. You would be amazed at the things people do to each other! I'm also consulting on troubled commercial loans and properties. If you know somebody who could use help either with a legal case or with troubled commercial properties, contact us. Back in the 1990’s I was able to help owners and lenders restructure loans on nearly $100 million of commercial investment properties and apartment buildings.

As always, we appreciate being able to help you or a client, friend, coworker, or family member you might refer to us. Your referrals are what keep us going, especially in times like these!

Hope 2010 is off to a great start for you!