iloanhawaii blog, Hometown Lending a div of TMBG Inc.

I Loan Hawaii

Plan to Rescusitate U.S. Husing Market with 4.5% mortgages!

December 6th, 2008 3:13 PM

Well, if you have been following our blog and what we think the mortgage rates are going to do you will love this new proposed stimulus idea to get the U.S. housing back up on its feet.

The Treasury Secretary Henry Paulson is considering having the mortgage rates come down to rates as low as 4.5% for some mortgages. However this plan is only preliminary and it could change.

See link to read more http://www.bloomberg.com/apps/news?pid=20601213&sid=aElD2EJR0B2k&refer=home

We had written an earlier blogging piece saying we were thinking this was going to happen and we have seen rates fall to lows that we had not seen since 2003. For folks who fit in a nice package meaning being able to show your documented income, loan to values that are below 75% , and just doing a rate and term refinance on your owner occupied home rates were as low as 4.875% staying in the conforming loan limits.

With the upcoming new President Elect Obama we are looking to see him help out our housing markets with his first 100 days in office. Bringing the rates down will allow folks to make this a fiscal sense to get out of any ARMS or interest only loans and go into a 30 year fixed mortgage that will benefit them in the long run, give everyone a sense of some stability in their lives and realizing paying down their principal can help them later on down the road.`

Posted by Jere Domingo on December 6th, 2008 3:13 PMPost a Comment (0)

Military service members have some relief and assistance

August 31st, 2008 8:16 PM

Veterans
Service members returning from active duty abroad will be given breaks, effective immediately now that the bill has been signed into law.

Some protections apply to service members whose military obligations affect their ability to repay debts -- primarily, reservists and members of the National Guard who are called to active duty. They have to leave their jobs and, in many cases, take pay cuts.
For these service members, there are protections having to do with foreclosures and interest rates. If a service member had a mortgage before entering active duty, a lender can't start foreclosure proceedings until nine months after the service member returns from active duty. Formerly, the protection period was 90 days.
Also, when someone with a mortgage is called up to active duty, the interest rates on all previously existing debt are capped at 6 percent. That goes for mortgages -- and for home loans, that 6 percent cap extends until one year after the service member returns from active duty.

The Defense Department will be required to provide foreclosure-prevention counseling upon request to service members who are returning from active duty abroad.

When you have any questions or concerns please feel free to call me. I am always glad to help out our military personnel.

Aloha,

Jere

Posted by Jere Domingo on August 31st, 2008 8:16 PMPost a Comment (0)

Hometown Lending branch in Hawaii

August 3rd, 2008 3:38 AM

Well it has been awhile for our company to be in Hawaii we welcome everyone to visit our wonderful website www.iloanhawaii.com feel free to browse around and get to know us.

Hometown Lending is a full Banker / Broker company that has a terrific staff to assist you with your mortgage financing options.

We are approved to do FHA, VA, USDA, Commercial, and all other of the conventional types of financing.

When you have a mortgage question please feel free to contact Jere Domingo directly, she is here to assist you. Jere has been in the banking industry for over 15 years she is a very resourceful and highly educated mortgage professional. Jere grew up in Hawaii and has helped alot of locals achieve the home ownership dream.

Mahalo

Posted by Jere Domingo on August 3rd, 2008 3:38 AMPost a Comment (1)