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/

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

Market Stabilization...weathering the storm

I've figured out how to stablize the US Economy. It happened today, and it seemed to have worked: Close the stock exchange! The US markets closed today for Holiday. There were no mid-day intra-day mortgage price changes, no banks swooping-up failing banks; Just a day to reflect on the past and strategize for the future. The future is certainly uncertain. Your decision to Refinance or Purchase will be based on your level of Pleasure or Pain. I am advising clients for longer-term security to face the inevitable turbulent times ahead. There are plenty of lenders willing to work with most clients. The sweet spot now is the 750,000 loan size and under. Those people on adjustable loans can lock in security of a 30-year loan now. Certainly in SF and Marin County on that size loan, take the Fear (pain) out of your future and Secure (pleasure) an new loan with Pat Townsley. I provide you with peace-of-mind and service. Call me to discuss your needs and options: 415-485-1776. Licensed mortgage broker. http://www.ptre.net/

America is Conforming!

New Federal "conforming" loan limits are now in effect. Prepare for the marketing onslaught. In some areas of the US, the Conforming rate has gone from $417,000 to $729,750. It's supposed to help US homeowners both in Refinance and Purchases by giving slightly easier loan underwriting and improved rates over the "Jumbo" loans (aka Non-conforming). The only Rub right now is that rates are bit too high TODAY for it to really do much good. We need the policy makers to drop the discount rate by 1 full point, then we've got some gas. Here in California, we'll see some good opportunities for many homeowners.
In closing, don't think we're an island here in the US. What we do impacts the world, and what the world does impacts us. It's a global economy, so make sure you're watching out for your own best interests as the blue planet plays financial hopscotch. Position yourself with secure diversified assets and a long term position on your mortgage whenever possible. Your broker: Pat Townsley, 415-485-1776, www.ptre.net

Cash out while you can!

It's been said that cash is king. With home values being "challenged" by today's real estate downturn, it's getting harder to refinance debt consolidation loans, cash for improvements, cash for investments or even to simply Fix or Lower your monthly payment. Please read the article below on utilizing your equity line Now if you need "padding." Also, I highly recommend that you look at the refinance opportunities (and purchase as as well) right now as the banks are getting tighter and tigher. Regardless of any stimulus package, eventually all borrowers, even the best borrowers, won't be able to finance real estate. One action that will help would be a cut in the Discount rate, but until that happens by at least a full point, real estate concernts will continue to drag down the entire country. Take action. Let's Talk: Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/

What goes up, must come down...

Mortgage rates are taking a beating this week; Almost a full point increase. I'm looking at the CNN home page and their breaking-news headline "Home Equity Slips Below 50%." That's a horrific sign. Another reason to access your equity line now (if you need it for Anything: see my blog under this posting). Rates reacting to bonds, sentiment and demand. For 15 years, I've been saying: Rates are going to do one of three things: Go up, Do down, or stay the same (on any given day). They've had quite a run-up, testing the top-band of resistance to how fast and high they can go. What will help? An immediate strike by the Fed on the Fed Discount Rate will ease things up on mortgage rates, but with the perceived "risk" to lenders, we should expect rates to remain in the 6%'s for the next few months. It wasn't too long ago when they were at 8.5%. Again, the Adjustable loans are now giving the lowest rate, now fully indexed at 3.87%. That's a sweet rate, but it comes with a bit of cost and less long-term "security." If your Fixed rate ARM is about to Adjust, rates in the 6%'s are STILL a better play than taking the hit on the adjustment. Keep that "Blue Sky Thinking" and stay positive in the face of adversity! Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/

Banks closing Home Equity Lines

How's your house of cards? Let's consider your home equity line. The interest is a tax deductible item up to $100,000 on your primary and/or vacation home. Now, you may have some “room” left on your home equity line that you’re counting on as “padding” for a rainy day. WARNING: Lenders are CLOSING existing equity lines. The process of elimination has already started. You may get a simple letter in the mail saying Your Account Has Been Frozen. It’s nothing you did, it’s just the market, the lender and a surprise. Not all surprises are good! If you even THINK that you need to pad your cash accounts, are considering paying off credit debt, buying a car or doing some upgrades around the house in the next SIX MONTHS…or if you think your INCOME is going to be impacted and your only reserves are within this Equity Line, it is the opinion of this mortgage broker that you BORROW IT NOW and put it somewhere earning a few bucks. You can always pay it back, take the tax write off on interest and call it a wash. Ask Yourself: WHAT IF my home equity line was frozen tomorrow? Call me for more information and the best new loan programs in this ever-changing market. Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/

(WARNING: If you have NOT accessed your equity line in the past 12 months CALL ME BEFORE you pull money out of your equity line! Borrowing money off your line is considered "Cash Out" when consolidating a new first and 2nd mortgage in any upcoming Refinance and WILL IMPACT your Loan To Value and possibly a new rate if you're planning on a Refinance!)

Understanding Soft Markets in California

The entire State of California has been has now been classified as a "Soft Market" area. In short: A fear of falling home prices. If a lender was to loan on your home based on an appraisal done today, it could drop even lower, putting the bank in a higher risk loan position. Previously, certain areas or counties were picked out. Now, the entire state is suspect. From this general blanket, banks have further identified regions and counties for even higher risk...so every bank has some type of "Grade" or Scale to rate the severity of the risk. Some do an "A to D" rating, other resort to name calling from Soft to Severe: Soft Market, Distressed Market, Severely Distressed Market.

How does this impact you? It impacts your Loan To Value and it may impact your rate on a new loan. On a purchase or refi, banks will whack 5% right off the top of the loan-to-value in Soft Market areas to 25% off and increase rates in Severely Distressed Markets. Even Marin in now a "soft market" but it's got a good rating. Sonoma is increasing in risk, and Napa is considered a Severely Distressed Market. Call me for more information. Take action to refi before rates increase and your loan to value becomes unfinanceable (that's a real word with dark overtones). Pat Townsley, Mortgage broker: 415-485-1776. http://www.ptre.net/

What is a BPO in Real Estate?

BPO stands for "Broker Price Opinion." That's on real estate professional's evaluation, statement of value, educated opinion. They are often used to "replace" a full appraisal. They can be faster and cheaper. The BPO of a residential property is conducted by a local, licensed real estate professional. The report combines information from a drive-by exterior examination, external data sources, previous sale data, property assessment data, recent comparable sales and current neighborhood listings, as well as a photograph of the subject property. The BPO includes estimate of repairs to obtain fair market value, neighborhood information, and value estimate (90, 120, 180 day marketing time for "as is" and "as repaired" values). Photographs include subject and street scene photographs. Front photographs of all comparable sales are also available for an additional fee. This product is not an appraisal and does not include an inspection of the interior of the property. There are Residential BPOs and Commercial BPOs. In today's market, banks or brokers may want a BPO to negotiate a Short Sale. More questions? Call your financial wiz: Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/

Financing the new Audi R8

As featured in this year's Super Bowl, This car, the Audi R8, is pehaps one of the finest driving machines made. How would you like to imply write a check for it and drive it off the lot, and the interest becomes a tax write off. No new loan. Close the deal faster, and you are on it. The Home Ownership Accelerator will get you on the accelerator of this Audi beast. Call me for financing. Pat Townsley, Mortgage Broker. Providing you with financing security, flexibility and a quality of life you deserve. 415-485-1776. http://www.ptre.net/

Lowest mortgage rate in town!

Here's the loan that is changing the world of mortgage. It's a loan where you take total charge of your life, your finances, your opportunities. 80% maximum loan to value, currently at 4.014% with your choice of interest only or any amount towards princiapal. You can pay it down as much as you want and the balance is averaged DAILY.... so the more you keep money in your loan, the faster you pay it off. Keep more money in your mortgage, then simply draft your bills out of the money at the end of the month. You are your own bank, earning more money, paying more debt down faster. You get checks and a credit card off of your home. Loans to $2million. Imagine you only owe $400,000, but you could have a line to $1,000,000. You're only paying on the money you owe, but you have instant access to draft another $600k in a day if you need it....or pay the loan to Zero and have this massive line at your fingertips. It's not for everyone, it's for wicked smart invstors who understand the power of compound interest. Call me for more information. Pay your traditional 30 year fixed down in 14.7 years and save hundreds of thousands in interest. The last loan you'll ever need. Pat Townsley has this loan currently at 4.014% and it's getting better. Sweet. 415-485-1776. http://www.ptre.net/

By Referral Only

In 2006, I personally spent over $100,000 in advertising in industry magazines using full page color ads to promote my services, going head-to-head against the "retail banks" which I also represent on the wholesale side. Result: 90% of my business came from referrals from my past clients and repeat business from my satisified clients. The other 10% by referrals from network marketing. So, now I've dropped the full color ads, focus my core business on residential purchase and refinances, post to this blog, and ask for your help to refer business my way when it comes to you and who you know. So, THANK YOU for your support and referrals. I'll take care of your, your family, your associates with Excellence in Real Estate Financing! I take nothing for granted, live with an attitude of gratitude, and appreciate your continued referrals! Professionally yours, Pat Townsley. http://www.ptre.net/

The 5 Balls

"Imagine life as a game in which you are juggling some five balls in the air. You name them - Work - Family - Health - Friends - Spirit, and you're keeping all of these in the air. You will soon understand that "Work" is a rubber ball. If you drop it, it will bounce back. But the other four balls -- family, health, friends and spirit are made of glass. If you drop one of these, they will be irrevocably scuffed, marked, nicked, damaged or even shattered. They will never be the same. You must understand that and strive for balance in your life. How?

1. Don't undermine your worth by comparing yourself with others. It is because we are different that each of us is special.
2. Don't set your goals by what other people deem important. Only you know what is best for you.
3. Don't take for granted the things closest to your heart. Cling to them as you would your life, for without them, life is meaningless.
4. Don't let your life slip through your fingers by living in the past or for the future. By living your life one day at a time, you live ALL the days of your life.
5. Don't give up when you still have something to give. Nothing is really over until the moment you stop trying.
6. Don't be afraid to admit that you are less than perfect. It is this fragile thread that binds us together.
7. Don't be afraid to encounter risks. It is by taking chances that we learn how to be brave.
8. Don't shut love out of your life by saying it's impossible to find. The quickest way to receive love is to give; the fastest way to lose love is to hold it too tightly; and the best way to keep love is to give it wings.
9. Don't run through life so fast that you forget not only where you've been, but also where you are going.
10. Don't forget that a person's greatest emotional need is to feel appreciated.
11. Don't be afraid to learn. Knowledge is weightless, a treasure you can always carry easily.
12. Don't use time or words carelessly. Neither can be retrieved."
From the book "Suzanne's Diary to Nicholas" by James Patterson

Financial Planning versus Vacation Planning

I was having breakfast with my Certified Financial Planner this morning. He brought up an intersting, funny, sad but true point: 90% of Americans spend more time each year planning their vacations than they do planning for their financial security. What a concept!... and then I thought about the hours we have spent just planning our annual camping trip to Yosemite. I get exhausted just watching my wife spend hours online; preparing menus, site reservations and organizing daily activities for our family and friends. Unreal. How much time have we spent discussing money? Zip. I'm guessing I'm not alone. So, it does make more sense to have someone ELSE do the driving when your money and future is on the line. If you'd like to contact a spectacular CFP with an MBA and a passion for increasing your wealth, Contact BRUCE FRANKEL with Yerba Buena Financial Partners. 415-334-8000 or email bruce.frankel@ybfp.com
I've referred several of my clients to Bruce and the results have been outstanding. Yerba Buena Financial Partners; "The Advocates Behind YOUR Success!"

Reasons to Buy a House Now...

There are many reasons to buy a house NOW. I can also play devil's advocate and quote a few negatives, but, hey, No Pressure...No Diamonds. Let's keep positive and abundant thinking.

1. Interest rates are coming down.
2. New loan programs are coming with improved guidelines.
3. Property values are down.
4. You'll never be a "market-timer" and nail the bottom of the market.
5. Sellers are motivated to sell. We call this a BUYER's MARKET.
   

   
   The one thing you do need before you go home shopping is a PLAN. This plan includes knowing what you can afford, how you can structure a solid financing plan, and what to buy. I'm the Second Step in the process. The FIRST STEP is you overcoming your excuses and objections, picking up the phone and calling me for your free loan pre-approval. Doing anything else is just burning up daylight. Time is the one thing that you simply cannot get back. Take action and call Pat Townsley, Mortgage Broker: 415-485-1776. http://www.ptre.net/
   

Here we go! Mortgage Time; Median Conforming Limits

OK, It's time. All the lenders and investors are sending out their guidelines. The conforming limit is now $729,750 for the majority of the Bay Area and other areas of California. This is YOUR time to take action. No more BS. Let's get to work. Banks are ramping up. Conforming means more flexibility in underwriting and improved rates over "Jumbo" pricing. Call me to discuss rates as every borrower is unique.

Your referrals are appreciated. Let's go.
Pat Townsley, Senior Broker
California Mortgage Consultants Inc.
Serving ALL of California.

REFINANCE NOW! 415-485-1776

Economic Stimulus Package signed into law

Hurry, hurry! Come one and all. The Economic Stimulus Package has passed both House and Senate and is being signed into Law by President Bush. The impact will NOT be immediate. Banks will have to digest this and work with their investors and corporate policies. So, it won't go into effect immediately, but now is the time to get your loan started. "Conforming" loans may be as high as $729,750 but not a blanket number across the U.S. In California, we should see many of our counties at this maximum limit as it is calculated increase of 125% of the median sales price (closed sales). This will END December 31st, 2008... So THE CLOCK IS TICKING! Father Time 2009 is only months away. Take Action NOW! Let's get it started now: Pat Townsley, California Mortgage Consultants senior Broker. http://www.ptre.net/ : 415-485-1776

What is the Conforming Loan limit?

What is the Conforming Loan limit? Looks like it's going to change...but WHEN already? A study released Feb. 7 by Deutsche Bank analyst Nishu Sood looks at the loan provisions and sums it up with this headline: “High-profile policy, low-profile impact.” Sood concludes: “Every little bit helps, but we expect only a few percent of home transactions to be impacted in 2008.” When will it change and by how much will depend on median sales prices (values) in certain areas. There is still too much disinformation. 125% of median price increase based on the current level of $417,000. Others say it's an automatic increase to $625,000, $650,000 or $730,000. What we do know is what rates we have available today, and that banks are slammed, so getting you loan going NOW is important. Get the appraisal done with a broker you trust and will do you right. I'm that guy here in California. 415-485-1776. Pat Townsley. http://www.ptre.net/

Financial Success: The law of attraction

What is The Secret to wealth mastery? Drive, Action, Support and a Plan. In fact, you can survive without "support" as some people might "put you down" and talk you out of taking action or making money. What are the Scarcity thoughts holding you back. How can you Breakthrough your beliefs, fears and take your life to the next level of Abundance? It all begins with YOU. Don't wait for the perfect circumstances, don't talk yourself out of it; break the habit and instill a new set of rules: The fruit is on the vine waiting to be harvested. There are great loan options out there for you to purchase a new home. Set up your vision boards....There is NOTHING wrong with having financial success...But you need a big enough motivation. Be it a fluffy rainbow that guides you to the goal, a light from the Heavens, a calling from deep within for a purpose. You will either sink or swim. Take Action and call me, Pat Townsley... I'll give you some great solutions, build a strategy for the future, put a plan in place and change your life, for the better, forever. One common thread that all successful people share: They Continue and Try Again, and again and again. Sorry to get "motivational" on you, but You don't know what you don't know. Get the info. Take action. Let's talk. http://www.ptre.net/ 415-485-1776.

Obama, McCain, Clinton, Primaries...

Before election day 2008, how are the campaings and primaries going to help your financial life? What impact will it have on your home loan, buying a home, refinancing a home? NOTHING. In fact, it's an absolute distraction when you consider your own financies. Let's refocus on yon your financial kingdom:
Mindset: Focus on your outcome. Know where you are and where you want to be.
Education: Know the loans and resources; get the right information.
Action: Start the loan process. How many more times do you need to think about making a decision, how many more excuses do you need for life to pass you by and bury you head in the sand. Make a commitment. Keep moving forward. Surround yourself with achievers.
The time is NOW. Contact me and I'll give you the tools for success and we'll rock.
http://www.ptre.net/, Pat Townsley. 415-485-1776. I'm running as your Mortgage Broker, and I approve this message.

Vacation Home, Second Home: Same Thing, Same rate!

Many of my clients know about our second home in Tahoe. Nothing quite like having a quiet retreat, snow-capped mountains, close to a stream with a lake view. Did you know that many lenders do not charge higher rates for a vacation or second home? The interest falls within the federal tax interest write off guidelines, and I have funded dozens of vacation homes throughout California. I found my vacation home, drove a bulldozer through it and didn't just build a new home, I built a legacy for my family. Share the fantasy. For purchase, refinance and construction loans... Contact the guy who's done it! Pat Townsley. 415-485-1776. http://www.ptre.net/

Luxury Homes in Bend Oregon

If you care, or if you've followed my career in real estate, you'll know I've built a couple homes. I learned the craft from a master builder, now based in Bend Oregon. What a place. I'm now partnering with http://www.luxuryhomesinbend.com/ to help California's purchase vacation homes in this beatiful city. I have half a mind to move up there myself. I have partnered with a Bend-based morgage company to refer my clients for Oregon financing, and I offer "cash out" strategies on your California properties to get into the finest built homes in Oregon. I'm proud to partner and sponsor LuxuryHomesInBend.com. Helping you get the most out of life...Buy well and buy often. Find out more about Investment Home Purchase strategies. Pat Townsley, Broker. http://www.ptre.net/ , 415-485-1776

No cost refinance, No Fees, No points, Lowest rates

Every advertisement is saying this. From the "nation's largest lender" to the private money guy. Folks, there is NO FREE LUNCH. Even the U.S. Postal Service is raising the cost of a First Class stamp to 0.42 cents in May. Seems like it just went from 40 cents last week. So, if postage is going up, transportation costs increasing, cost of energy increasing, cost of goods going up... everyone will have to spend more on every thing as the wholesalers and retailers WILL have to raise the cost of goods sold to compensate for the higher cost and maintain a profit margin. So, in a No Cost mortgage transaction, YOU do pay...it's just burried in a higher interest rate to you. It always has been and there always will be a cost to you to borrow money. Just know how much, where it is, and how you can leverage it to your advantage. Call me to lay it out in common sense and financial sense to you. I am the bridge between your goals and accomplishments. Pat Townsley, YOUR Mortgage Broker. Serving ALL of California. Based in Marin, Sonoma and San Francisco Counties, with branches in San Diego, Santa Barbara and Bend, Oregon (hmmm.. that's outside of California last time I checked). Hawaii too. http://www.ptre.net/

Money: House of Cards

Money will deliver us all... and money is just about to get a bit easier to get. It's the one resource that is endlessly abundant. We can't get back lost Time, but we can recover lost money. We must also be careful not to fall into the belief that the Fed Stimulus package is going to save our butts. The picture here pretty much sums it up. Careful how you stack it... and eventually, some of these stacks will fall down. It is time to get your mortgage check up and get your application going. Every bank is getting backed up like a bear preparing to hibernate. The best wholesale rates from all the top lenders and great service to back you up the whole way: Pat Townsley, California Mortgage Consultants Inc. 415-485-1776. http://www.ptre.net/ . Rate, program, solutions, asset allocation resource, wealth building strategist... and Acme "super genius."

Lowest home mortgage payment

The Fed's stinulus package isn't going to help too many individuals. That is "microeconomic thinking." The stimulus package is a Macroeconomic stategy for the overall U.S. economy. When Godzilla and Gamera fought (in many of their movies), they were trying to protect people, but ended up wrecking an entire city in the process; Trying to help the individual and having an effect on the entire city. Maybe not the best cause & effect example since the effect was usually the destruction of Tokoyo. Something small that can have a big effect is the interest rate you pay on your mortgage and compound interest. As a mortgage broker, I have a loan which is currently at 4.04% with NO negative amortization. The loan goes to $2.5 million dollars and has NO prepayment penalty. It's not for everyone...but it could be a way for your to lower your payments, pay off your loan faster, have more flexibility; Effecting you and eventually impacting the U.S. in a positive way. Everything counts in large amounts. Contact me, Pat Townsley for more on your purchase and refinance needs. http://www.ptre.net/ 415-485-1776.

Shuttle Atlantis blasts off like the US Mortgage Market

ah CAPE CANAVERAL., ter two months of delay, shuttle Atlantis blasted into orbit Thursday with Europe's $2 billion science lab named Columbus. Billions of dollars in gear floating away into space. Hey, I'm all for the space program, but back down here on Earth, we can use a little help. Be looking for new conforming loan limits and economic stimulus package items to clear the Senate today. This will have a HUGE impact on the Marketing of mortgages (home loans) nationwide. Watch out for false promises. Also, I wouldn't be surprised if RATES RISE due to the stimulus, so, lock in your new loan with Pat Townsley, California Mortgage Consultants' senior Broker. 415-485-1776. http://www.ptre.net/

Tornado rips thru cities; destoys homes

If the housing market didn't have enough challenges, imagine your house being torn to shreds by a tornado. Today's home mortgage market is much like a tornado; a whirling dervish of confusion, awe, power and destruction, but...from the ashes of disaster rise the roses of success. Protect yourself and your home with an adequate home insurance policy and umbrella policy. For financing your new home or repairing and updating your home, call Pat Townsley, Mortgage Broker, Serving all of California. 415-485-1776. http://www.ptre.net/

Mortgage in a box

Every home buyer and homeowner is unique. Every loan must be tailored to fit the needs of the individual. Most banks have three or four boxes to put your loan into (like that old Round Table Pizza commercial: "Go to fridge, get box"). As a broker, I don't just look at your immediate needs and debt, I go deeper; What's coming up in your life, what's important to you, what are your goals and motivations. From there, I don't have one box, I have over 80 lenders each with four boxes, and from there, I can also utilize equity lines, cross collateralization and exponentially increase the number of solutions for your financing needs. Don't get stuffed into a box. I deliver freshness and the best ingredients! Go with service, solution and experience. Pat Townsley: I will not suspend my campaign as candidate as your Mortgage Broker. (and I endorse this ad). 415-485-1776. http://www.ptre.net/ , providing Excellence In Real Estate Financing.

Get Ready Marin...and California!

I've lived in Marin for 43 years now. The Grinch, who lived just north of Whoville lived on the top of Mount Crumpit for 53 years. His life was a disaster he realized where he was in his life. No point there really, but there are local, state and federal initiatives to prepare individuals, families and communities from disasters including earthquakes, fires, floods and even the results of terrorism. In Marin, we have "Get Ready Marin." In addition, there are CERT courses community members can take and prepare you and your home for and from disaster. Another consideration is the "72Hours" site. While I prepare and protect you and your family from home financial disaster, consider taking action for natural disasters. Get your "5-minute" bag ready and your 72 kits for home and auto. Let Me help you get your Finances ready to ensure your estate security from disaster. Pat Townsley, Mortgage Broker & Survivalist! 415-485-1776, Serving all of California: http://www.ptre.net/

Financing Your Life considering Maslow, DISC and Gems

I just took a DISC assessment through my personal coach, Tony Robbins. DISC is just one of the personality profile "tests" to find out places of strength, weakness, what type of personality is most dominant. I've taken multiple "Gems" profiles through a great program called "Understanding Gems" by Dawn Lyons of The Referral Institute. Gems is basically the same as DISC, but more easily described and re-formatted by Dani Johnson, another rock-star success story. I also found an interesting spin of Maslow's Hierarchy of Needs pyramid for to indicate one's personality needs. This one looks like it was created on Castro Street, but I found it interesting that Finances was way up at the top. Important to be at the top, but without the foundation of health, purpose, relationships.... you'll never get the money, and without the money, you'll never get to contribute and celebrate your successes. Point being: Stay healthy, be happy, and build a solid business relationship with a top mortgage broker so that I can do the work for you, giving you more time, better finances, and the right to celebrate your successes. Call me for your finances or for referrals and testimonials for my coaches and mentors mentioned above. Pat Townsley, Consultant, Coach, Super Genius. http://www.ptre.net/. Call 415-485-1776 to get your mortgage finances fixed.

The Secret to closing More Mortgage Deals

Wow. I finally found it. After starting in this business in 1984, then really digging in over a decade ago as a loan originator, to becoming a Broker, then a Realtor, then hanging up my Realtor designation and focusing 100% on the core business of being a morgage broker, I found the Post-It that sums up how to be successful in the mortgage business. If we just simplify the process, keep our eye on the goal and provide excellent service, the four step daily plan works.

If you know anyone looking for a new conforming loan including Stated Income (aka No Income Qualification)...I've got them along with THOUSANDS of other opportunities in today's real estate financing market. It's time to call: Pat Townsley, Mortgage Broker. 415-485-1776. http://www.ptre.net/ . Keeping it Real. Simple. Let's Talk!