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.