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