Financing in 2009

Wow. I don't recall wanting a year to end as much as this one, well, maybe other than 2007. Looking at financing and credit markets in the first two quarters of 2009, I don't see anything "technical" that is going to be a bright spot, however, the touchy-feely vibe of a new administration may be the confidence booster that starts people from hoarding and recoiling. The plan to infuse cash into American's pockets, as predicted in previous postings, went straight into the mattress or into vital staples to sustain life; No extra cash for play things or speculation and driving consumer confidence to its lowest rating. 2009 just might bring some optimism to slightly counter-balance the tight markets. There are some great loan programs for loans in two tiers: $417,000 and under and 625,00 and under. The New Year will bring a New Look to www.PTRE.net, launching January 5th, 2009. Pat Townsley. 415-485-1776

Your 2009 Goal Setting Workshop

Make Goal Setting an ongoing process. Don't fall into the "New Year's Syndrome" and think out a couple of goals and then not look back at them until December 31st of the next year and say "oops, oh shoot." Any plan is better than no plan. A few quick reminders on Goal Setting:

1. Focus: Get into a space where you aren't interrupted.
2. Write them down: Writing gives you a road map to work on
3. Clarity: The more specific, the more achievable.
4. Present tense: Write them now, and "as if" they were achievable Now
5. Time based: Give them a reasonable timeline, but set a "do by" date
6. Personal: Write them in first person, as in "I will..." or "I am..."

Have personal, family, work, material wants and financial goals. Let your Goal Workshop flow. Put on some inspiring music, think of what you want, and put it on paper. You can edit and clean it up later. With your new goals defined, review them in every morning and every night before you go to bed. The conscious and superconsious minds work 24/7. Share some of your goals with friends who will hold you accountable to their achievement. Nothing like Pressure to keep you on track. You might not be honest with yourself, but you'll keep a commitment to a friend. As they say: No Pressure, No Diamonds. On the other hand, Biggie once said "Mo Money, Mo Problems." I'll help you with both. Pat Townsley. http://www.ptre.net/ 415-485-1776 pt@ptre.net

Mind over Money

Perhaps it's all a state of mind, and the mind is in the gutter right now. With each approaching New Year, we tend to find Optimism around January 1st. Hopefully it will be on a global level. These past few months, I'm guilt of watching the news, getting "brought down" and asking the wrong question; and you know what happens when you ask the wrong questions! I recommend avoiding the question "What else can go wrong?" at all cost. Even as a humorous thought to self, don't do it. It tends to get answered. Going into 2009, it's simply time to Ask the Right Questions; Ask empowering questions. As I continue looking for solutions and opportunities for my clients, I hope you look to me for your real estate financing solutions and referrals.
Thoughts become things; Choose the good ones! www.ptre.net Pat Townsley, Broker. 415-485-1776. pt@ptre.net

Take a Stand!

November 4th, 2008 will be one of them most historic voting days in American history, and you have the right, the honor and the duty to cast your vote for any one of the fine Americans running today. Some will vote for Nader just because they can't stand the others. Some will play party lines regardless of the candidate's position. Other just because they're so pissed off at the state of the union. On this election day, vote FOR something, not Against something. Take your stand and stand behind it. And whoever wins, remember that this is YOUR president. As a member of the US of A, we get the leadership we vote for. So embrace it and find out how you can survive and thrive with the candidate we will call Mister President in 2009. Regardless of the outcome, you've got some tough years ahead. Position your real estate financing now while rates are rock-bottom. You'll never see them like this in another Four generations. Take a stand on your financing. Pat Townsley, Loan guru. Non partisan financing. 415-485-1776. www.ptre.net and I approve of this message.

World Domination

Ben Franklin, the $100 dollar bill guy, wanted the Turkey as the National bird of the USA instead of the Eagle. Turkeys can drown in an average rain storm. Ben Franklin is the only figure on US currency who was not a US President, yet he had a huge impact on the country and the world. He was a forward thinker. One thing Ben continually did was keep pressing on; Creating, evolving, sharing. In the face of hundreds of failures and nay-sayers, he kept on creating, communicating and leaving a legacy unparalleled by others since. As the US begins its upcoming shifts, remember to keep fighting your fight, regardless of who you wanted to be President in this election. This is still a great country. There is a wake of destruction behind, and many years of destruction to come before we unscrew what has been done. All of this has happened before, and it will all happen again. Learn from history and take your own actions. Surround yourself with supportive team players and dominate your own world. I'll play on your team if you ask. Pat Townsley, Mortgage Broker, fighting for you. 415-485-1776. http://www.ptre.net/

Economic woes are just beginning. As I've said, even with any Fed cuts in rates, the banks will continue to raise rates. Rates are as low as they're going to be right now, and as home prices continue to fall, this might be the best time to refinance before we go into a cold, dark economic winter. Representing the remaining lenders in the US; Let's get down to business and secure your estate. California Mortgage Advisors: One of the last wholesale brokers standing. Pat Townsley, Broker. 415-485-1776. www.ptre.net

Politics, Finance, Religion

The trifecta of dinner party taboo topics: Politics, Finance, Religion. Today, it's all that the media and people are talking about unless Dancing With The Stars is on or OJ is back in court or Brad and Angela have a spat, then of course, we must shift focus on to distractive pop culture. Some are saying that the signs of the Apocalypse are upon us, that either candidate is the work of the devil, and that the financial crisis is another indicator of our doom. This certainly covers the trifecta. Here's the deal, here's where the rubber hits the road: WHO CARES? It's all about YOU. It's nice to be able to support others, but right now your focus must be on your bottom line, your family, your security. If you don't take care of yourself, you can't take care of others. So, prepare yourself for dark days ahead. We're going into multiple "winters" right now. Let's look at shoring up your home financing (defensive) and reviewing real estate purchase plans (offensive). Get Crackin'. Let's Talk. Pat Townsley, Team Townsley. 415-485-1776. www.ptre.net

Mistakes

"It could be that the purpose of your life is only to serve as a warning to others." http://www.despair.com/

Brilliant. Need a mortgage lifeline? Pat Townsley, Broker. 415-485-1776. http://www.ptre.net/

US Bailout: Herding Cats

Wow. What times we have brought upon ourselves. Greed, complacency, stupidity, market timing. I've been saying it's going to be bad by Q4 2008, but I wouldn't have guessed this bad. So, who's left, and how are we as a country going to wrangle up these cats and survive financial disaster. This is all going to further decrease consumer spending, confidence, liquidity. Ahead we have increasing unemployment (or decreasing employment) and increasing interest rates. As long as the stock market holds, we might make it through...but it's going to really hurt. Time to gather your herd and stow ye'r gear. There's a storm coming. There are ways to secure your home financing. It starts with a call: Pat Townsley, Mortgage Rustler. 415-485-1776. http://www.ptre.net/

It's been said "If you think you can or if you think you can't, either way, you're right." All hands on deck and brace for impact; we're just at the beginning of this bank failure stuff, but, nobody listens. Pretty soon, we'll be so over-imprinted with headlines, information, conversations and media blasts that we'll just tune it out and become complacent(er)...if that's possible. For over a year, I've been screaming "Take Action Now"...and now what can you do? Your choices are narrowing, the lenders are tightening, the water is frightening. Mortgage Brokers still have the most flexible options by representing the remaining lenders on the Wholesale level. I happen to know a mortgage broker who can help you out! Pat Townsley, Broker. 415-485-1776. www.ptre.net

Exit, Stage Right...

Financial Freedom. What does it mean? Stop the world, I want to get off! If there is one word that will get you to the exit of freedom it is PLANNING. Lord knows I'm guilty as charged, buying high, selling low, bucking the odds, while at the same time I'm telling my clients to get into a Fixed Secure loan now. If you don't have a Certified Financial Planner, you should start shopping for one. Income must exceed Outflow. We've all be trapped in Parkinson's Law: Expenditures rise to meet Income. Debt is rampant. "Get out of debt" (John Cummuda) programs are nice in theory and applications only for a small few. At least they're a Plan. I recommend speaking with a Certified Financial Planner, one with experience under their belts. I've worked side by side with Bruce Frankel of Yerba Buena Financial Partners for the past 3+ years. He's approachable, won't sell you on anything, is of the highest degree of honesty and will give you clarity. CLARITY, being the second most important word toward you financial freedom. To fix your mortgage, contact Pat Townsley at California Mortgage Advisors, 415-485-1776. To fix your LIFE, contact Bruce Frankel at Yerba Buena Financial Partners, 415-334-8000.

Splitting Up Your Mortgage: Wise or not?

A friend just emailed me a familiar scenario to check out. I've seen it done and heard brokers recommending it in the past. Just remember, if it sounds too good to be true, it probably is: Say you have a $700,000 mortgage now at 6.5%. A loan agent may recommend that you can save $500 per month by refinancing your first into a $417,000 first at, say, 6% and getting a 2nd mortgage for $300,000 at 4.5%. Wow. Saves you a gang!?? The Rub is that the 2nd is typically a line of credit with an Adjustable Rate. The "Pitch" is the lower fixed rate on the first mortgage and less emphasis on the potentially explosive Home Equity Line of Credit. PLUS you may be blowing a big mortgage interest tax write off as you can only write off up to $100,000 on a 2nd mortgage, leaving $200k's interest blowing in the breeze. Buyer Beware. I'll show you the right way home. Pat Townsley, Mortgage Broker to the stars. 415-485-1776, http://www.ptre.net/

The Dog Days of Summer

Definition: "Dog Days can define a time period or event that is very hot or stagnant, or marked by dull lack of progress." Indeed: Coasting to the end of summer; School's Open, Drive Safe, My Other Car is also a Hybrid, Visualize Whirled Peas. For many, it's time to put off for a few more weeks, the damage control they've been putting off: Refinancing. For others, it's time to Invest in the myriad of low priced homes. Everything begins with a PLAN. So, start making your plans now. Remember, it's easier to get INTO something than it is to GET OUT OF SOMETHING...or so they say. Not always the case in real estate financing. My team and I will do our best to get you Out of your adjustable loan and Into something secure for years. You can't do it alone, so put the power, experience and excellence of California Mortgage Advisors behind your success. Let's Talk. Pat Townsley, Broker. 415-485-1776. http://www.ptre.net/

Suicidal Tendencies; Death in Yosemite

A week ago today, I was the unfortunate witness to a man committing suicide. I was the only one who saw it; The sole witness to a man's last seconds. He jumped from a great height and plummeted off the sheer cliff face of Half Dome. It was surreal and has haunted me this past week. I didn't have time to save him; He was up and over the edge before I could move. I quickly grabbed my camcorder and documented the scene and peered over the edge to the rocky ground some 3000 feet below. I called 911 moments later as I was still in disbelief at what I thought I just saw. Search and Rescue were first on scene. I borrowed binoculars to see if I could locate the body. There was no body left. No skin, no bones, no torso; Only a red explosion on a very large boulder. May God have mercy on his soul. TODAY, many have the opportunity to save themselves from financial suicide. Life is a serious game and you get one shot at it. Let me serve you. Let me save you. A serious message at a serious time.
Thinking of you.
Pat Townsley, Mortgage Broker. http://www.ptre.net/

Feds leave rates unchanged: A Push.

Well, today was a benchmark: It was my first prediction that didn't come true: I anticipated a half point increase split between the Funds rate and Discount rate in a blog last month. Consider yourself lucky that this is the first prediction in years that hasn't come true. You've been given an incredible reprieve here; In Blackjack, we call this "a push." You didn't lose your money or chance and can play again. If you're on the fence or screwing around, waiting and thinking that rates will come down, I guarantee disappointment. We lost JP Morgan/Chase as a lender of Jumbo loans last week. That's a Huge upset in both Wholesale and Retail lending. Add a stack of additional required disclosures to you new loan applications and things are getting tough. NO LOAN is easy right now, but you've got to take action while there are still banks lending! Let's Talk...sooner than later. Pat Townsley, Mortgage Broker. My team and I are ready to get you through these tough times with the best rates. 415-485-1776; http://www.ptre.net/.

Exodus; Movement of Jah People

All of this has happened before, and it will all happen again. The opening line from Peter Pan. Cycles, trends, changes, history repeating itself, prophecies coming true. Bob Marley sang about it, scriptures tell about it, history records it. So, WTF does it matter to you? It's a relative question. Each person is unique. The most uncomforting comfort that anyone has given is "Hey, you're not alone." Not helping. This time it's not personal: It's global. There are many people who are completely un-phased by global events, stocks, equities, economic, social and political change. They simply continue to make money in any market. That's a small percentage. The majority of "Joe Americans" are really in a tight spot right now. There is one thing you can do to secure one aspect of your pain: Refinance your home loan into a 30 year fixed rate now for security. One less worry in your life. I've got the remaining lenders under my belt to serve you so that you don't have to make a forced exodus from your home. It's times like now when you need the support of your friends, family and solid advisors who know what to do. I'm one of those advisors in the trenches, fighting to save the American way of life and save your home. Pat Townsley, humble smart guy. http://www.ptre.net/. 415-485-1776. Real world answers for today's real world challenges facing you and your family. Your referrals are appreciated.

Pop Goes the World

Wachovia took over World Savings a year or two ago. They liked World Savings' tried and true adjustable program portfolio and wanted a new mortgage solution as part of their services. My long-time wholesale rep, Linda, was a bit apprehensive, but thought that good things would come from it. Not so. Right off the bat, Wachovia tried to alter the programs, change what they paid to utilize. In the end, Wachoiva announced today that it's canning over 6300 employees and shutting down the Wachovia mortgage wholesale division. This still leaves one of their mortgage companies, Vertice, in tact and doing business, but you can guess that they're next on the chopping block. Result: More fear in the banking world, more bad news for the media to spread, more fear in the minds of consumers, fewer lenders to do deals, fewer buyers able to buy, less money to lend, a fly in the ointment, sand in the Vaseline, another shoe in the self fulfilling sabotage of the financial gears of lending. Moral of the story: Secure your refinance or purchase loan NOW while you can or you'll be out of options. I've got the options: Pat Townsley, the Loan Survivor. www.ptre.net.

Bottom's Up: This Real-Estate Rout May Be Short-Lived

Barron's had an optimistic outlook on the market. Finally, one lone voice in the "we're all dead" real estate media frenzy. In a nutshell, Fannie Mae and Freddie Mac's impending doom and savior may be the sign of the turning point. This could be the lowest point and pivot for all future financing. Without financing options, only cash buyers will be able to buy a home. The system of finance, the economic engines require buying, spending, loaning and borrowing. Somethings gonna have to give. The only thing outside of this Fannie/Freddie theory is the continuation of foreclosures. Foreclosures have only just begun. If you have an adjustable loan, let's lock that thing in. Pat Townsley, Mortgage Broker...still open for business. 415-485-1776. www.ptre.net

Indymac Fails: Do I still have to pay my mortgage?

Yes. Pay up. When a bank fails, they will still be sending you the mortgage bill. Someone will be there to pick up the pieces and put Humpty Dumpty back together again. Same with Countrywide and other acquired, merged or failed banks. Now, some of the banks may try do sell-off your loan to another bank, but the terms of your loan will remain the same, but right now, the "secondary market" doesn't really have the appetite for mortgages, so it's likely your current service provider will still continue to be your mortgage holder on your home which is probably going to take a bit more hit in value before this whole thing starts over. Sometimes you have to fail before you can start again. Just like Ben Franklin (the one hundred dollar bill guy) failed far more times than he ever accomplished and invented. Old Ben is also the only non-president on U.S. currency. He also wanted the Turkey over the Bald Eagle for the country's national bird. Pointless trivial. Pay your mortgage or get a new one from me: Pat Townsley, Mortgage Advisor. 415-485-1776. http://www.excellenceinrealestatefinancing.com/

Indymac, Fannie, Freddie, Recesssion, Depression

Ouch. Another red hot poker in the eye of banking and mortgage. When banks fail, there's no short-term good news. Is this a prequel to a "run on banks" and a sequel to the Great Depression? Time will tell, like this photo from yesterday via LA Times where customers find that they're locked out of their Indymac bank. Scary, a little, but Don't Panic (Your deposits to 100k are FDIC insured). There are differences between the Original Great Depression and the upcoming remake: This time, we have a more global economy, more proactive controls coming, lots of wealth and tenacity, yet high energy costs, inflation, a bit of a deficit challenge and the one wild card never seen before in any historic economic-generational paradigm: The Boomers. What we do know is what we can do today. Mortgage rates will go higher and loans harder to come by. I'm still here, advocating fixing in a new loan while you can. Pat Townsley, Broker. 415-485-1776. It all starts with YOU. Click here for a bit of get-up-and-go juice.

Faster and Faster, Higher and Higher

As the song goes; "Life is a Highway," and right now, the highway is moving pretty fast, things are getting blurry, and we may be in the center of the road (the most dangerous place to be). How do we navigate that high speed of change and challenges. Just today, Indymac Bank folded its lending division (and the whole bank may follow shortly). This bank had solid underwriting, great construction loans and a talented, driven staff...yet they crashed into the wall. So where do we take your loan to secure it from the upcoming head-on? 166 lenders have now crashed and burned since 2006. Rate are going higher and higher as Risk comes into play. We haven't bottomed out yet, so buckle in with a quality new home loans with side air bags, not empty sales wind bags. I've still got the best banks to shop your loan. Pat Townsley, your nitro burnin' Mortgage Broker & Track Advisor. 415-485-1776. www.ptre.net

Finding the Right Loan for You...

It's an abomination. Wasn't the Internet supposed to make life easier, less work, and more money? Now, we suffer from information overload, scams and far too many websites with their mortgage lending shenanigans. As a California Mortgage Advisor, I offer real world loans. There are many lenders with many scenarios. One is right for you right now as we all know that rates are going UP. I offer 15, 20, 30 and 40 year amortization loans with fixed rates. The infamous 3, 5 , 7 and 10-year fixed rate ARMs, plus the lowest rate on the planet right now, the "LIBOR" interest only loan at 3.9% with no negative amortization. Now is also the time to jump like trout on to the government stimulus package "Agency" loan where you can really get a tremendous rate on a higher balance loan. Stated Income loans are also available as are FHA loans. So, quit burning daylight on the computer. Talk to you local home loan expert for your Purchase or Refinance loan: Pat Townsley, Mortgage Broker. 415-485-1776. http://www.excellenceinrealestatefinancing.com/

Summertime...Hammer Time: 3 Ways to Pay

In my neighborhood, I'd say there is as much construction going on as there are homes for sale; A surprising amount or work going on, given the economy. Rather than moving out, many are adding on, fixing up and remodeling, spending their investment and vacation money on their homes rather than other risky or gas eating activities. Construction takes many things. The top Two: Money and Planning. You've got to have the money to get the plan, and the plan will show you how much money you need to spend, and it ain't cheap. At California Mortgage Advisors, I offer many New Construction loans as well as Cash-Out loans prior to construction on your existing home. Always make sure you have a nice buffer (cost over-run) as you'll need it. The Third financing option is Post-sign-off inspection. Once you're done with the construction, you might want to refinance to consolidate debts or take out invested cash based on your new value. I've got your construction Lending Trifecta: Pat Townsley, Mortgage Broker.
415-485-1776. www.ptre.net

Body Count, Greenspan, Fourth Turning, Dead Pool

I just look at "Greenspan's Body Count" blog from a post to my site "Buy California" which someone recommended I should call "Short California." Indeed, but it's also a good time to buy. The old model; Buy low, sell high. So, at Greenspan's Body Count, my take is that the entire blame for today's US economic wreck is due to Greenspan's impact over the years. I believe it goes far beyond Greenspan. His policies are only one piece of the pie. The "body count" is the increase in suicides, O.D.s, heart attacks and human stress as a result of Alan's impact on the market. I subscribe to the models and theories of the Fourth Turning and subsets of the Kondratieff Wave which, in general, show four sets of 20 year generational cycles, equalling eighty years, and then the pattern repeats. There is similar overlaying wave of the life of a country. So, the Country and the People have these waves overlapping, roughly every so many years, and history repeats itself economically. Tony Robbins did an AMAZING interview in 1999 with the authors of the Fourth Turning (William Strauss and Neil Howe) and a follow up after 9/11. So, before we put all the blame on Grenspan or a president, or a policy, Check out the Fourth Turning. You don't know what you don't know. Grab that Anthony Robbins interview from his Power Talk series, probably available on Amazon or a download. It's fun, enlightening, and bone-chillingly DEAD ON. There's your Body Count. All of this has happened before, and it will all happen again.

Going Under, Walking Away, Foreclosure

I try to focus on the positive in my Blog, but I also don't want to bury my head in the sand to the negatives and realities facing homeowners. Yes. One comment posted my blog says "Why keep paying on a house that's going under?" Another says "Walk Away"... which means either Going Short or Foreclosure. That's the rub for many homeowners; Creating the disconnect between Ego and Emotional attachment to their home versus a pure analytical evaluation. It can be very difficult to face the sinking ship. For many, this is your home, your identity, your life, the place where your kids are growing up, your neighborhood, your friends. It's an emotional tie that you just don't want to give up regardless of the cost, and the optimist says that values will rebound...some day. ON THE OTHER HAND; Screw it. I'm upside down by $400,000 and my adjustable loan just doubled my payment. I'm negative, in the hole, no equity and paying two to three times the mortgage payment versus walking away and renting. And that's what many are doing: Walk away, rent, know that your credit is history, and start saving. Reality is relative. My reason to pay the mortgage over credit card payments is because "mortgage lates" are far more damaging than credit card "lates." But, if you're going to go BK and get foreclosed on, your hosed on your credit anyway and you lose a piece of your soul. Wanna talk about it? 415-485-1776. http://www.ptre.net/, Pat Townsley, Broker with heart.

Bankruptcy versus Credit Counseling versus Suicide

So what do you do? Your home has lost 1/4 of its value, your income has been cut in half, gas prices, food prices, kids, camps, costs all leading to the additonal costs of family counseling, personal counseling, visits to the doctor for Ambien, Valium and Alazopram. Wash all those down with a stiff cocktail and in the morning, should you be able to sleep, the bill still haven't been paid; They're going late. The calls begin; Random 800 numbers and Unavailable caller IDs. When all else fails, Don't do any more Ping-Ponging. Don't borrow from direct relatives, don't draft more cash from accounts. Do EVERYTHING to keep the mortgage payments current and give me a call. You may be polishing brass on the Titanic, but you may stay afloat a while longer. I'm and advisor, I've been there. I'm here to help. Pat Townsley, State Licensed Broker. Cal Mortgage Advisors, Inc. 415-485-1776. http://www.ptre.net/. "Just keep Swimming" Dory.

Flying Sharks

Mortgage Brokers, Realtors, used car salesmen... I often feel that we're all grouped together under this horrific stigma of being bottom feeders. Amongst the many things my mom told me and I didn't listen, being in Real Estate was on the top of her "don't do" career advices. Yes, there are and have been some real horrific scams and profit grubbing brokers. There are also a handful of professional mortgage advisors who help you navigate the waters of financial success. Like any industry, there are some bad seeds, bottom feeders, killer sharks and blowfish. Luckily, You have a choice. Only the strong, professional, seasoned veterans are still in the game. Let's get down to business: The business of securing your future from whatever beasts and demons coming our way. Pat Townsley, Broker. Real Estate Financing, Reeling in real estate loans for my clients for over a decade; Still here. 415-485-1776. http://www.excellenceinrealestatefinancing.com/

What's a Quarter?

A Quarter; One fourth, two eighths, 0.25%, half of a half, four bits, 25 basis points, one in Four, one of four, twenty five cents, more than a little and less than a lot. In the mortgage world, a quarter of a percent can be the difference in hundreds of dollars in interest, in cost, in savings, in broker compensation, in rate. It can be the straw that blows your "back-end ratio" out of the water and prohibits you from refinancing or qualifying for a new loan. It's also about the same number of homes that are expected to get closed upon in the United States between now and 2009. That's a lot. Too many. Even if your little piggy built his house of straw, it's time to take action to secure your loan before rates skyrocket and you're left without a home and wish you had a quarter in your pocket. Pat Townsley, Mortgage Advisor. California Mortgage Advisors, Inc. 415-485-1776. www.LoansForMarin.com. Your referrals are appreciated!

Federal Reserve Board "The Fed" leaves rates alone

Today's decision by the Fed to leave interest rates alone sends a mixed message. Regardless of if they had lowered or raised rates, Mortgage Rates would have gone up...that's just the way that the banks have been playing. With the Fed's job is to stop inflation. We're facing Inflation, big-time, so you basically have a brief reprieve before the Fed finally takes the foot off of the brake and on to the gas. It's a total double-edged sword. With such volatility in the economy and the world, the message from the Fed may be "Come On America, let's rally." This is your last stand to take advantage of today's mortgage rates, because when the Fed does address the inflation, it will be aggressive, head-spinningly fast. Don't delay. Take action. Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/

What Do You Have to Lose? Hedge your Home Now!

Folks, I've said it once, I've said it a million times: Now is the time to secure your loan. That's the long-term security game. If you do it now, you'll get a decent rate versus what will be at least two points higher in a year from now. Can you risk that? Depending on the size of your loan and the program, it can equate to $25 dollars a day in savings to $225 per day in cash flow savings; It can save your home...period. I can't even sleep at night anymore: Concerned over my clients, my own real estate holdings and the entire planet. I'm micro an macro thinking here. Let me help you save your ship so that YOU can Rest easy: I've got the loans. For long term security to short term adjustables for fast real estate plays, I'm on it. Pat Townsley, Mortgage Broker to the Stars. 415-485-1776. http://www.ptre.net/

The End of Days

Fire, drought, floods, famine, prices through the roof, an increase in information, a decline of the Western Civilization; And the oceans turned to blood and the sun turned to black satin. It is the best of times, it is the worst of times. What's the Answer? I guess we'd better start with: What's the Question? Many believe that the answer is "42." I believe the question should come from a place of power and positive frame-set: How do we set ourselves up for prosperity, security, survive the difficult days ahead...and enjoy the process? That's probably the best question. We've all got to make it through what's coming ahead. Brace for impact, prepare for the worst, but plan for the best...in fact, our greatest days are still ahead of us, our biggest incomes are still ahead of us, the best inventions have yet to be invented, and your security is just a phone call away. Let's make sure your real estate is poised for security to weather the battles ahead. Pat Townsley, evangelical mortgage prophet and advisor. 415-485-1776. http://www.ptre.net/. Time to take action.

Any Press is Good Press

While I'm always looking for the opportunity for speaking engagements regarding the mortgage business, buying property, investing, it's always good to be quoted in respected papers. I was recently quoted again as an industry expert in the Investor's Business Daily. Click here or the image to read the article. It's not too much coverage or cheery news about the state of the nation, but I'll take reputable national coverage whenever I can. In short, the article tells what I've been saying all along: Tough times ahead and challenging underwriting plus constantly changing programs make it your call to action to do something sooner than later on your real estate finanancing. Don't wait for the rate 'cause it's gonna be too late. Call Pat Townsley, Mortgage Broker. 415-485-1776. www.ptre.net

Make hay while the sun shines: A positive "Spin."

When I hear "hay" and am talking home loans, I think of the story of Rumpelstiltskin. This magical dwarf could spin gold out of hay. Not a bad idea. Now, here we are with "the perfect storm" of financial and housing markets. As in the story, protect your first born with a new mortgage, and the time to make that gold is now. Sure, you want to laze about on your water-chair with an umbrella in your drink, but the reality is that you really only have 3 months to get in under this Federal Stimulation Package where "Agency" loans with nice rates can go up to $729,500. This is not Fools Gold: This is your financial future. Wait to act and you're gonna break your back when rate rocket north and you're stuck in an increasingly adjusting loan. The only one makin' the hay and the gold will be the lender. Line your own pocket NOW. Even a single coin makes a Jingle if it is made of gold. Banks are taking forever to get things done. Don't wait 'till it's too late. Call Pat Townsley, your knight armed with 2.0 enabled best of breed loan sourcing aggregator to get you the best rate right now. Let's roll. Pat Townsley. 415-485-1776. http://www.ptre.net/

Stocks lag, Crude Up, Lehman Lags...

Interesting times my friends. Time to double your efforts that make you the most money. If it's work harder on those key elements that will generate business now, delete/delay senseless projects, re-evaluate your portfolio, cancel that vacation: Time to tighten up. We all want Balance; be it in life, in our accounts, in our future. One thing you can do right now is to secure your home or real estate mortgage. It's a critical time right now. When the Fed addresses Inflation, the rates will take off.
May I offer my phone to you: Please call to see if there is an opportunity for you. Chances are, I can either offer you a better and/or secure rate or give you the assurance that what you have now IS the best deal and don't do anything. I'll cut through the B.S.

I'm the broker on your side, but you've got to take action. Call Pat Townsley, 415-485-1776. http://www.ptre.net/.

Let's get down to business. Don't become a statistic.

Oil, Inflation, Economic and Physical Lubrication

Texas tea, Black gold, Our nemesis: Crude Oil. We'll be up to a $150 a barrel by mid July, as irony, it will probably hit that right around Independence Day. We'll have to rename it "Dependence Day." The higher the cost of oil, the higher the cost of fuels. If it's personal vehicle, you'll be cutting back on your trips for the summer and trips to the store. If you're in the transportation business, you're going to pass it on right to the end user: The consumer. Groceries, materials, and even transporting fuel...all getting more expensive. Disposable income: Gone. Less mobility in physical movement.
Next, we have Inflation beating down on our door. The Fed WILL have to step on the accelerator and raise rates to slow inflation. Higher rates on everything: Gone. Less liquidity equals less mobility in the financial markets. Higher Credit Card payments, higher mortgage rates; In fact, skyrocketing interest rates ahead. Less ability to buy homes, further stalling the economy. WHERE IS THE SILVER LINING? It's right here, right now. This is the time to lock it in! Get the best interest rate now! You're preparing to Duck-and-Cover the inevitable really hard times ahead in the US. Take on a second job, pad yourself, get some cash flow save up. For the best mortgage rate and service: Get it now with Pat Townsley, Your Mortgage Broker. 415-485-1776. http://www.ptre.net/

Social Networking for your Success

I've got a list of personal coaches, mentors and personal trainers in my background. From Anthony Robbins, Brian Tracy, Ken Blanchard, Depak Chopra, Mike Macedonio, Dawn Lyons, Trey McAlister, Wayne Dyer, Dani Johnson, and companies like Productive Learning & Leisure. Joel Osteen recently reminded me "You must quit looking at what you don't have, and start believing that all things are possible." Short, direct, true. You attract what you focus on, however, sometimes thought and focus aren't quite enough; If you don't take action and just bliss-out, things slide. Motion creates emotion. Getting networked in person and online is a great way to stay proactive, working your "message" and moving forward. If you're not growing, you're dying. Time to get busy. By the same token, if you hide from your finances or simply "hope" that your loan will be fine, you're going to look back and say "Oh Shoot" as you you and your canoe go over Niagara falls without a paddle.

HOW CAN I SUPPORT YOU? Pat Townsley, Advisor. 415-485-1776.

Feed the house or the horse?

This is my daughter's horse, Artesima. Feed, stable, grooming, transport, showing, freakin shoes and gear. For everything else; there's Mastercard. Now, as fuel and food and transportation and materials and staple increase in cost exponentially, where will we be cutting back. The first horse shoe has only just dropped. America's economic engine (liquidity) is coming to a screeching halt. Fuel will cause the actual "mobility" to halt. "You've got chocolate in my peanut butter. You've got peanut butter on my chocolate.".... that was always a good thing. When both financial and physical markets collide, we're in some trouble. My friends: It is time to take a defensive position. We've ridden it hard and put her away wet. Time to clean up after the party and cowboy-up. Fix your adjustable loans now. Some CFPs recommend a 40% cash position for the portfolio. Not a bad ideas if you are looking at investment properties that are at bottom and cash-flow. I've been down the investment property path, multi units, fixers and flippers. Time to really think strategically. Let's talk. No sales, no obligation: Let's find the solution so that we put the horse before the cart!. Pat Townsley. Super Genius meets Idiot Savant. 415-485-1776. Broker, honest guy. http://www.ptre.net/

Getting to work while work is available

How hard can the mortgage business be? Here's the checklist for Joe Broker. The critical piece missing here is ESTABLISH A RAPPORT. That's what sets me aside from other brokers. Honestly, we have about 60 banks left in the industry versus over 200 about a year ago. Loans are getting tougher, but I'll tell you this, they're going to get WAY tougher and rates WILL GO UP... so STOP procrastinating. Make the call at least. Get the info. Make SURE you're in a good position before the Fed has to take action to fight inflation over the crying of consumers for lower rates. It's going to be very tough. NOW is the time to get it started. It's not about Making Money: It's about relationship, rate and service. I've got it. Come get it. Pat Townsley, Mortgage Advisor. I'll guide you through the maelstrom and keep guide your ship into a safe harbour. 415-485-1776. http://www.ptre.net/

Treating others with the Platinum Rule

How do you want to be "sold" to? You don't. Nobody wants to be sold to. As a member of the Referral Institute, a great lesson learned is that we often base our tactics on "The golden rule": Treat others the way we want to be treated. However, that's not the best play. The real meat come from treating your customers with The Platinum Rule: Treat your customers the way THEY want to be treated. It's a fine line that goes right to the bottom line. It's tough to make that distinction sometimes. By using tools like the DISC assessment or BNI's Referral Institutes's "GEMS" program led by Dawn Lyons (derrived from passionate sales guru Dani Johnson), I've learned valuable skills to speak to my clients on "Their level" and increasing my ability to deliver my message. Sure, sometimes my message is passionate about why NOT to refi or buy. Other times, you've got to refi now to take a defensive position to protect your assets, life and home. "P.T."... My initials and what most of my friends call me. 195.08... My former weight prior to losing 20 pounds to the stress in the market. 78...the numbers on phone key pad that spell the initials P.T.....and lastly, The periodic symbol PT is for Platinum. Divide that by THREE and you get 26, the age my father died, the age I turned to a new paradigm shift in my business model, and right now, the number of loans that I need to close this year to achieve me 2008 goals. Coincidence? Fate? Faith? Numerology? Quantum Physics? BS and lies? Whatever it is: I will serve you and your referrals with the Platinum Rule. I will deliver what I say, when I say, and provide you with ExcellenceInRealEstateFiancing... dot com. Let's do this before the Fed package bursts into flames and we're all cooked. Take action. Yours in business: Pat Townsley, Mortgage Advisor. 415-485-1776. www.ptre.net. Real solutions from an agent who's in the trenches.

A Fist Full of Dollars: Tighten up!

Money 101 with Pink Floyd: "Get a good job with good pay and you're okay. Money, it's a gas. Grab that cash with both hands and make a stash."

Unfortunately for many, Money has slipped through our fists: In the past year, we've lost 20% in equity from our 90% leveraged position, putting us 10% "upside down?" There are only two solutions: Fight or Flight. Is your house a home, and is your home worth fighting for?...or do you just walk away from it all? File Chapter 7, Chapter 13, File for the Homestead Act, sell it "Short" or just get foreclosed on? It's not just a home, it's where your family is growing up, it's a water park and playground in the summer, it's a haunted house in October, it's where you store your stuff, it's your American Dream. It's your identity, your ego, your place in the community. But now, Today, It's keeping you up at night and if you can sleep, it's become your panic attacks and source of night terrors. Let's find the solution. Pat Townsley, Mortgage Advisor. 415-485-1776. www.ptre.net

Vacation Homes/Second Homes: Oh Yes!

Second homes, if you can afford the, are worth looking at now. Lenders are still flexible on the terms and there are A LOT of people bailing out of second home all over the state and nation. People are looking to move their liabilities. I provide complete loan preapprovals for primary residences, refinances, second/vacation homes and investment properties. You can pick up a second home with Stated Income on "conforming rates" and the properties are out there. Time to pick up the phone and buy your piece of peace while the pickins are good.

Let's do this! Pat Townsley, Mortgage Advisor. 415-485-1776. www.ptre.net

This is NOT A DRILL. Take action Now.

I've never been the broker to push or say "Do this now," until now. I like to be positive, upbeat and give hope and solutions. That being said:

The Federal Stimulus "Agency Conforming Jumbo Loans" need to be started NOW.

"But Pat, we've still got six months on our adjustable. We're going to wait. We think rates will get better. We'll wait until September to start it. I don't adjust until February." The truth: You don't have the time.

Here's the deal. The Fed Stimulus loans end December 31st, 2008. They must FUND AND CLOSE by the 31st. So, let's consider the time-line:

1. December is already a loan-logistic disaster due to holidays as is the last half of November.
2. Banks are taking an easy 30 days to receive, underwrite and fund a loan, in fact, some banks are taking 60 to 90 days in underwriting.
3. Add in distractions of elections and projections and guessing.
4. Add the time to get your appraisal and paperwork together.
5. And now consider this: The law of Supply and Demand! Banks will be so over-run with people in a last minute panic to get their loans done before the December cut-off that the banks will artificially INCREASE RATES to slow down the volume.
6. In addition, rates will certainly begin their climb as inflationary concerns force the Fed to raise rates.

Take all this into consideration, do the math of subtracting several months (of the reasons mentioned above), and the answer is to Take Action Now. You've got a short window to take advantage of a unique program. That's GOOD NEWS but only if you actually realized that time is not on your side. Delays could will devastating. Let's talk now: 415-485-1776. Pat Townsley, Mortgage Broker. www.excellenceInRealEstateFinancing.com

Mortgage Industry on Web 2.0

So what's the hype with Web 2.0? It's a shift in thinking and user ability. I now have the fastest, most accurate loan data at my fingers. A mortgage loan aggregater that allows me to find the best lender and the best rate in the entire US. Take the best-of-breed technology of Web 2.0 plus add in my 12 years of market-smarts, and we'll find the loan for you! Let's Talk. This whole computer thing is giving me a 2.0 headache. Pat Townsley. Linked-in social networking Mortgage Advisor. 415-485-1776. http://www.ptre.net/

How do BANKS set rates?

With the financial markets and investors in "spooked" mode, NOW, more than ever, banks are taking a new look at how they need to address and "entice" investors to deposit money into their banks. Without growth through deposits, banks will take a loss which will be hard to make up from other services. Statistical data shows banks with up to 150 basis points in difference in what they're pricing their money market deposits at from bank to bank in all 50 states. So, how do banks' price swing so much and how can banks offer the best pricing in a turbulent market to reign in some normalcy, investor confidence and ultimately regain a stronger gain in consumer confidence? ACCURATE RESEARCH. The company that is leading the banking B2B information age is "Market Rates Insight." They're the hub of timely, accurate and relevant data for banks to efficiently create solid price points for continued growth and stability ahead. I look forward to an alliance with MRI to help me better serve my clients as well as promote the services, scope and impact of this first-class global company. Pat Townsley, Advisor. 415-485-1776. Let's Talk.

Stimulus Package Agency Conforming Jumbos take off

Any press is good press, they say. I was recently interviewed by a reporter from Investor's Business Daily regarding the challenges facing the mortgage business and how the new conforming loan limits have impacted the American home owner or home buyer. Indeed, we have challenging times, but we also have markets that are constantly in need to recreate themselves for their own survival, in this case, the Mortgage and Credit Markets. My splash in Investor's Business Daily came out in print in the May 15th, 2008 paper and is also available online by clicking here. When you need true insights and financial reality checks on what opportunities you or your associates have available today, please contact me. Pat Townsley, Independent Mortgage Broker. Serving California and 15 other states as your Mortgage Advisor. 415-485-1776. http://www.ptre.net/

The Road to Success

In the mortgage broker "circles," there is this growing concern that Wholesale banks are doing everything they can to pus "brokers" out of business, ultimately, driving customers into the front door of Retail banking only. I can understand this theory; It's the way it was 20 years ago: People would have to go to a banker for a loan. Then, the secondary market opened up and lenders found it cheaper to utilize "brokers" to sling their products. Now, brokers are back in the quasi-doghouse...pushed into exile by the very banks who supported their rise, all driven by greed.
I believe I'm known for integrity, relationship, honesty and delivering a quality product. Sure, there were and are some horrific mortgage brokers (and now formerly) in this industry. Realtors, used car salesmen, mortgage brokers, MLM sponsors and Fuller Brush salesmen all get a shitty rap; Only a few may stand out.
Jim Rohn said "DISCIPLINE is the bridge between Goals and Accomplishment. " A truer statement is hard to find. I am that bridge for you: Committed to an ongoing relationship for excellence in real estate financing. Please call for a mortgage update. Pat Townsley: On your financial team! 415-485-1776. http://www.ptre.net/

When Your ARM Becomes Adjustable

Most Adjustable loans are coming "due." This goes for the 5-year fixed loans acquired in 2003, 3-year loans from 2005 and the last of the 2-year fixed loans from 2006. In most cases, people have been paying Interest Only on these loans. In the case of the 5-year loan, borrowers haven't paid down any principal, so at the end of the 5-year period, you only have 25 years left on your loan, PLUS most loans will now require you to pay Principal AND Interest. Your Rate will become Adjustable with a "Margin" plus an "Index." In most cases, you've got a TRIPLE THREAT: Principal and Interest plus a variable and probably higher interest rate plus a shorter life span on the loan. All three factors compound and your payment goes UP. Every loan is different. I'm your Advisor, I'm your neighbor's Advisor, I'm your family and friend's Advisor. Take action while rates are low. Let's Talk. Pat Townsley, Mortgage Advisor. 415-485-1776. http://www.ptre.net/

California Mortgage Advisors

“The problems of the world cannot possibly be solved by skeptics or cynics whose horizons are limited by the obvious realities. We need men who can dream of things that never were.” John F. Kennedy

Real estate financing has changed, and changed forever. I refuse to fail in the face of adversity. To stay competitive and continue servicing my clients, I have brought my team to one of the Nation's top mortgage firms, California Mortgage Advisors. We're pleased to be amongst some of the top producers in the US. At "CMA" we have the best-of-breed tools to ensure that our clients have not only the best rates and loans available today from more lenders than were previously available. We're really working harder than ever, because we have to! Trust that I will still deliver my personal best when working with you and your referrals. My contact information remains the same: Pat Townsley, 415-485-1776. http://www.ptre.net/

Prime comes down to 5%

What does this mean to you? Immediately, any "home equity lines" or adjustable home loans time to "Prime" will be at 5% plus or minus any "margin." That's good news. It should also impact some credit card and auto loans. It doesn't do anything to Fixed rate home loans. The Fed cut the discount rate a quarter yesterday, so it was anticipated...but it did help improve mortgage rates slightly. Investors liked it as the Dow rose 189 points to close at 13,010 on Thursday, however, there is still a lot of fear in the market. Banks are keeping rates, especially JUMBO rates high (They're padding themselves, taking larger profits to offset any losses from foreclosures).

Until we see a turn around, mortgage rates are as good as they're going to get. Every time the Fed decreases the Discount rate, mortgage rates go up. My advice is to take action now and get the best loan available. It's a decent time to borrow money...If you can! Call me for a free consultation. Pat Townsley, 415-485-1776 http://www.ptre.net/

Don't become a Foreclosure Statistic

It's hard to focus on the positive when the news is coming at us on the web, tv, radio newsprint, texing, and "by referral." I try to present a balanced view of the market: Not all is always cheery. Today's headline from SF Chronicle/SF Gate shows foreclosures up 300% the past few months and it's just the start of this "trend." YUCK. The message is that this challenge isn't going to go away soon. We have serious problems here at home and we need to address them head on. I am your Mortgage Advisor. I'll do EVERYTHING I POSSIBLY CAN to give you the best advice, loan options and rates. Don't let the bank take you away as banks themselves fold up shop. You've got an advocate and advisor on your side: Let's talk.

Pat Townsley, Mortgage broker for the top lenders in the nation! 415-485-1776. http://www.ptre.net/

"Floating" Away

The "market" is as crazy (volatile) as we've ever seen it. There is no real predictable model to forecast or predict mortgage rates. Actions by the Fed get counter-acted by the market, Adjustable rates go down, cost of money goes down yet mortgage rates (fixed) keep creeping up. One thing we do know is What We Have Today. If today's rate seems sensible and secure then go ahead and have me lock in your rate today. If we think that there will be an opportunity for rates to improve in the short term, then we "FLOAT" the loan: We get it processed, we have it totally approved and then when we agree that the market timing is "right," we move the loan from FLOATING to LOCKED and secure the best rate (better than "today's quote.") One reason to do this is with a seven or fifteen day guarantee to close the loan, the bank rate can be far better than if we were looking at rates of "the day" which require a 30 to 45 day locking period to get them done. If this is still confusing, please call me. In the meantime, let's get the loans moving. Your referrals are appreciated. Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/

Broker Versus Bank

Consumers often ask: Why would I go with a mortgage broker over a bank. The answer is that Brokers have far more options for Buyers and Homeowners than a single bank. Indeed, we also represent all the top retail banks, but we've also got other lenders and programs that fit all types of needs. Additionally, brokers are generally available about 24 hours a day. We find solutions and can shop your loan to get the best scenario. Recently, many Realtors are saying ONLY get your financing from a retail bank for "security" to make sure that their client's purchase closes on time. Nobody wants your loan to close more than the mortgage broker and the Realtor. If it doesn't close... nobody wins. I've seen retail lenders fail to fund purchases recently...which is counter-active to the advice of some Realtors. Nobody wants a purchase to fall out. I offer you the argument that a broker will work harder, provide better service, better communication, and be there for you, the CUSTOMER, far more than any other person in your transaction. For refinance or purchase loans, go with a mortgage advisor with all the tools and the experience. I have a referral for you: Pat Townsley, Mortgage Broker. 415-485-1776. Your referrals are appreciated! http://www.ptre.net/

Blue Sky Thinking

There is a "take off point" where many self made millionaires launch from scarcity to abundance. Brian Tracy, business coach, calls this point of reference: "Blue Sky Thinking"...where anything is possible. Hopefully, your mindset that you're thinking "Anything GOOD is possible!" We are in a time like no other right now, and a good offense may be your best defense. Just hoping and praying isn't going to be enough right now. As always, I recommend that you don't hide from your challenges, but face them, embrace them, take action to make changes for the better and prepare for tougher times ahead. Buckle down, get busy, and as the squirrels say, "Protect your nuts." Don't let you ARM loan go adjustable. "Fix it" before the adjustment. The adjustable rate may look good, but there are other factors that will increase your payment. If you're looking to BUY... now is the time for Blue Sky Thinking. It's a Buyer's buffet! Pat Townsley is serving up the financing. 415-485-1776. http://www.ptre.net/

Marin holds strong market value

Where's the recession in Marin? According to recent stats, Marin home values have INCREASED in 2008. Units (volume) may have decreased, but those home selling have been record setting. Now, you can't just paint Marin (and SF and other similar growth areas) with a broad brush. If you were to disect this, you'd find that the homes over $1m are the ones that are making the averages strong. Those homes under $800,000.That's where the rub comes in. Those are the ones in trouble. When looking for a home to buy, find a solid Realtor who doesn't glaze it over with a glossy sales pitch. Find one who REALLY understands your needs and wants. One who will do the work. In today's market, the ones who are working are the ones who have always been working: Like myself as a mortgage broker, a true professional Realtor is walking the walk during these challenging times. In Marin and SF, check out Realtor Mark Machado. I had him sell one of my own homes last year. He's currently got several homes on the market. One at 20 "K" Street and another at 39 Octavia, both in San Rafael plus other listings in Novato and SF. He knows his stuff. If you're looking to buy or sell, get preapproved with me and use Mark Machado as your Realtor. Interveiw several, and I'm sure you'll end up with Mark. Let's talk. Pat Townsley, your mortgage broker: 415-485-1776. www.ptre.net

Will Work For YOU!

Tough times call for tough people. It's time to cowboy-up and brace for some tough times. The past 48 hours has seens some extraordinary events, the foremost being the announcement that Washington Mutual is closing its wholesale lending division. The writing has been on the walls for some time (even though they've been saying they're here to support us with "the year of the broker" and other nonsensical affirmations)...but a complete "See-Ya" was a bit of a rude awakening. This is only one of many more of the major banks making the move. Wells has already priced out Brokers. Wachovia is on the fence but will be making changes. Where will people go to get a loan? Certainly not to these institutions on the Retail side as the majority of Americans won't fit into their guidelines. So, Come join me in my box! I'll work to find you the loan you need. I work inside and outside of the box to make sure my clients achieve their goals. Close on time, every time. Pat Townsley: The Broker who won't go away. 415-485-1776. http://www.ptre.net/