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/

There's No Place to Hide!

No joking! It is easy just to "tune it out" and bury your head in the sand, but eventually you're going to have to face the current market and how it is impacting you. Let today be the day that you take action and call me. I am here to talk with you, answer your concerns, find your opportunities, give solid advice and deliver true service in the form of Excellence in Real Estate Financing. If you or someone you know is in need of mortgage advice, let's talk before it becomes impossible to do anything. Between the confusion on what the new conforming loan limits are and why the whole thing fell into the toilet, new proposals on sweeping government reform in the U.S. financial markets plus the challenges of declining markets, it is getting much harder to obtain any financing. Today the Dow may gain 300 points on "good market news" and tomorrow it may drop 400 as another bank fails. Don't get caught-up in the confusion of the daily mix: It's time to take action with a strategic plan. Pat Townsley, Mortgage Broker: 415-485-1776. www.ptre.net