Derek Beisner, Mortgage Banker

Bridging the great divide between home buyers and sellers

2012-01-04T16:13:00.000-08:00

With mortgage rates below 4% and prices near bottom in many markets, it's a good time to buy a house. But many owners won't sell because they can't get the price they want

Rates Near 2011 Lows

2011-08-24T16:24:00.000-07:00

Rates Near 2011 Lows

You may have heard that home loan rates have improved and are back down to near historic levels. In fact, I've been slammed with emails and phone calls from people who wanted to take advantage of this wonderful situation.

But you need to keep the following in mind…

While some people say good things come to those who wait, others say to strike while the iron is hot. In this case, the "iron is hot" with rates at exceptionally low levels. And while weak economic reports here in the U.S. and the economic crisis in Europe are two of the main reasons rates have improved recently, signs of inflation are beginning to creep into our economy–and that never bodes well for home loan rates. That's why it's more important than ever to act now.

Give me a call if you want to see if you can take advantage of this window of opportunity to save significantly on your monthly budget. I look forward to hearing from you!

Sincerely,

Derek Beisner
Intercap Lending
derek@derekbeisner.com

U.S. Credit Rating What Does This Mean To You?

2011-08-12T09:33:00.000-07:00

Standard & Poor's Downgrades U.S. Credit Rating, Fannie Mae and Freddie Mac
What Does This Mean To You?

On Friday, August 5, credit rating agency Standard & Poor's (S&P) downgraded the United States' credit rating one notch from AAA to AA+. Though this was an historic decision, as the United States had held it's AAA rating from S&P since 1941, it wasn't a surprising one. S&P had previously said it would lower the rating if Congress did not reduce the federal deficit by $4 Trillion over 10 years (the Debt Ceiling/Deficit Reduction Bill passed on August 2 only called for a deficit reduction of $2.4 Trillion over the next 10 years). In addition, S&P also downgraded certain entities linked to US debt, including Fannie Mae and Freddie Mac.

So what does this mean...both for our economy and home loan rates?
Maintaining our AAA credit rating reinforces the United States' role as the reserve currency of the world or a place where investors will place their money as the ultra safe haven. This is a key factor for our continued economic recovery.

But it's important to keep in mind that S&P is currently the only credit rating agency that has downgraded the United States. Both credit rating agencies Moody's and Fitch have maintained the United States' AAA rating. Also, with the ongoing credit crisis in Greece and other parts of Europe, most of the world still sees the United States as a safe place to invest their money. This bodes well for our economy and also our Bond Market, including Mortgage Bonds, to which home loan rates are tied.

The bottom line is that home loan rates remain near their historic best levels, but about the only thing that is certain in the markets right now is the volatility. If you've been thinking about buying or refinancing a home, give me a call or send me an email to see if you could benefit from this situation.

Sincerely,

Derek Beisner
Intercap Lending
derek@derekbeisner.com

Special Alert: Rates Reach 2011 Lows

2011-08-04T09:57:00.000-07:00

Great Window of Opportunity

You may have heard that home loan rates have improved and are back down to near historic levels. In fact, I've been slammed with emails and phone calls from people just like you who wanted to take advantage of this wonderful situation.

But you need to keep the following in mind...

While some people say good things come to those who wait, others say to strike while the iron is hot. In this case, the "iron is hot" with rates at exceptionally low levels. And while weak economic reports here in the U.S. and the economic crisis in Europe are two of the main reasons rates have improved recently, signs of inflation are beginning to creep into our economy–and that never bodes well for home loan rates. That's why it's more important than ever to act now.

It will only take a minute–give me a quick call so we can look at your situation. It doesn't cost anything to check it out, and the choice of moving forward will be up to you. Don't miss this window of opportunity to save significantly on your monthly budget.

I look forward to hearing from you!

Derek Beisner
Certified Mortgage Planning Specialist
Intercap Lending
Phone: 949-637-9939
Fax: (949) 214-2242
License: NMLS # 288530
derek@derekbeisner.com
www.intercaplending.com/dbeisner

Start Spreading the Facts

2011-03-18T11:22:00.001-07:00

Start Spreading the Facts

Buying a home has always been a big decision. But for some people today it's a difficult decision because of all the conflicting information coming from the media. To make matters worse, that information is often outdated...or even inaccurate.

If you know anyone who is thinking of purchasing a home this year, please share the following information with them:

Mortgage options are still plentiful for borrowers with good credit scores and documented income.
There are still programs available, like FHA, that allow as little as 3.5% down payment, and many others that allow less than 20% down.
Jumbo mortgages are still available on loan amounts even in excess of $2 million dollars.
Vacation/second home financing can be obtained with as little as 25% down, even with jumbo mortgages.
There are "first time homebuyer" mortgages available at discounted interest rates and with reduced down payment requirements.
As of today, rates on most mortgages are still at the low end of the range when compared to the last 30 years.
Most homes are selling at a big discount relative to 5 years ago.
Make sure your friends and family know the facts! Owning the home of their dreams may not be as hard as they think.

Send your friends and family this letter and let them know I would be happy to meet with them and help them determine what options are available in their personal situation. Getting pre-approved for a mortgage BEFORE speaking to a Realtor could help make them a much stronger buyer in the eyes of a seller. If there's anyway I can lend a hand, I'll be happy to do so.

Thanks for your help and continued support, and if you have any questions about your own situation call or email me anytime!

Sincerely,

Derek Beisner
New American Funding

derek@derekbeisner.com

Spring Forward Beginning March 13

2011-03-10T12:04:00.001-08:00

Spring Forward Beginning March 13

It's that time of year again...Daylight Saving Time (DST) that is.

Don't forget to move your clocks ahead one hour, this Sunday, March 13, 2011, at 2:00 a.m.

Remember, not all areas of the United States use DST, including Arizona, Puerto Rico, Hawaii, the US Virgin Islands and American Samoa. If you have friends or family in those areas, you'll want to make note of the new time difference between you.

Despite some concerns, most Americans overwhelmingly like Daylight Saving Time. There is simply more sunlight in the evenings to enjoy the outdoors and get things done. Plus, additional hours of daylight can help save energy on a national scale – as much as 100,000 barrels of oil per day according to some estimates.

And brighter is safer. Studies have shown that the DST shift reduces traffic accidents. Additionally, a study by the US Law Enforcement Admin also determined that crime is consistently lower during DST, with violent crimes down as much as 10% to 13%. For many crimes, like mugging, darkness is a factor...so more light in the evening hours reduces these types of crimes.

As spring approaches and the weather becomes warmer, I hope you will enjoy the extra hour of daylight DST will bring. And if you have any mortgage-related questions or concerns, call or email me anytime. I'm always happy to talk to you!

Sincerely,

Derek Beisner
New American Funding
Phone: 949-637-9939
derek@derekbeisner.com

FHA Announces Increase to Monthly Mortgage Insurance Premiums

2011-02-24T11:05:00.000-08:00

Derek Beisner
Certified Mortgage Planning Specialist
New American Funding
Phone: 949-637-9939
Fax: 949-380-1819
License: NMLS # 288530
derek@derekbeisner.com

FHA Announces Increase to Monthly Mortgage Insurance Premiums
How Will This Impact Your Clients?

I just wanted to let you know about an important announcement from FHA that will have an impact on your clients. As of this coming April 18th, the monthly Mortgage Insurance Premiums will increase slightly for FHA loans.

This increase is not expected to have a large impact on borrowers. For example, on a $175,000 sales price, the mortgage will only increase approximately $36 per month.

However, this change will help strengthen FHA, which is important since some estimates show that FHA loans represent nearly 50% of all loans being done today.

Even though FHA has slightly increased their rates, the FHA loan is still a good value for clients with little to put down. Rest assured that the FHA loan is still a very viable option worth considering.

If you have any questions at all about what this might mean for any of your clients, call or email me anytime. I'm committed to doing whatever I can to help your clients own the home of their dreams.

Sincerely,

Derek Beisner
New American Funding
Phone: 949-637-9939
derek@derekbeisner.com

Are You Withholding Enough for This Year's Taxes?

2011-02-17T10:57:00.001-08:00

Are You Withholding Enough for This Year's Taxes?
The Answer May Surprise You!
Based on the "Making Work Pay" tax credit, employers now use new withholding tables to lower the amount of tax that is withheld from eligible workers' paychecks.

That means, you're probably receiving more money in each paycheck–up to $400 more per year if you are single and up to $800 more if you file jointly. While this sounds like a benefit, you need to make sure you don't end up paying in at the end of the year because you aren't withholding enough due to this rule.

What Should You Do?
Double-check your unique situation and withholdings to make sure you're not a risk. The IRS makes it easy with an online Withholding Calculator available at www.irs.gov/individuals/article/0,,id=96196,00.html. This convenient online tool now reflects the new withholding tables created by the "Making Work Pay" tax credit

Higher Fees Coming From Fannie and Freddie!

2011-02-10T14:39:00.001-08:00

Higher Fees Coming From Fannie and Freddie!
What Will This Mean to You?

Do you have less than 25% down to put on a home?

Do you need a loan-term longer than fifteen years?

Is your credit score less than exceptional?

If you answered yes to these questions, you could soon be paying more to get a mortgage.

Fannie Mae and Freddie Mac are raising risk fees that are charged to lenders for the first time since 2009, and these increases will affect most loans sent to Freddie Mac (beginning March 1) and Fannie Mae (beginning April 1).

Here's an example: Say you are purchasing a $250,000 home, putting 20% down, and your credit score is 720. Your risk fee will now be $1,000 (versus $500 before). And if your credit score is 680, the fee will now be $3,500 (versus $3,000 before).

If you want to find out what these fees could mean to your situation, give me a call today. Home loan rates are still at historically low levels and if you're looking to purchase or refinance a home, now is the perfect time to act...before it will cost you even more to do so.

Sincerely,

Derek Beisner
New American Funding

derek@derekbeisner.com

How Purchase Loans Are Made

2011-02-04T14:18:00.001-08:00

How Purchase Loans Are Made
A Step-By-Step Walkthrough

1. Loan Search - Buyers should seek the advice of an experienced mortgage professional, someone who will help determine which financing options best suit their needs today and in the future.

2. Loan Application - It's crucial that consumers supply the lender with as much information as possible, as accurately as possible. All outstanding debts as well as assets and income should be included.

3. Documentation - Buyers must submit paperwork supporting the application as well. Information commonly sought includes pay stubs, two years' tax returns, and account statements verifying the source of the down payment, funds to close and reserves.

4. Pre-approval - Getting pre-approved for a mortgage allows borrowers to know exactly how much house they can afford. Viewed as "cash buyers", pre-approved borrowers have greater negotiating power as well.

5. The Hunt - The buyer begins shopping for a house. When the right one is found, the terms of the sale will be negotiated, including the price and potential terms of the loan being sought.

6. Appraisal - Lenders require an appraisal on all home sales. By knowing the true value of the home, the borrower is protected from overpaying.

7. Title Search - This is the time when any liens against the property are discovered. A lien may have been placed on a property to ensure payment of outstanding debts by the owner. All liens must be cleared before a transaction can be completed.

8. Termite Inspection - While most purchase loans do not require a formal inspection for termite and water damage, some loans (especially government loans) allow for the possibility. If problems are found, repairs may be necessary.

9. Processor's Review - The mortgage professional packages all pertinent information and sends it to the lending underwriter, including any explanations that may be needed, such as reasons for derogatory credit.

10. Underwriter's Review - Based on the information put together by both the loan executive and the processor, the underwriter makes the final decision regarding whether or not a loan is approved.

11. Mortgage Insurance - Many lenders require private mortgage insurance when borrowers put down less than 20 percent on a loan.

12. Approval, denial or counter offer - In order to approve a loan, the lender may ask the borrowers to put more money down to improve the debt-to-income ratio. The borrower may also need a bigger down payment if the property appraises for less than the purchase price.

13. Insurance - Lenders require fire and hazard insurance on the replacement value of the structure. Flood insurance will also be required if the property is located in a flood zone. In California, some lenders require earthquake insurance on condominiums.

14. Signing - During this step, final loan and closing documents are signed.

15. Funding - At this point, the lender sends a wire or check for the amount of the loan to the closing company.

16. Close of Transaction - Documents transferring title will now be recorded with the County Recorder.

17. Buyer Begins Making Mortgage Payments

I'd be happy to discuss any of these steps in more detail with you or your clients

PMI Tax Deductibility Extended Through 2011

2011-01-28T13:42:00.000-08:00

PMI Tax Deductibility Extended Through 2011

There's great news for homeowners! Congress recently extended legislation making private mortgage insurance (PMI) premiums tax deductible through 2011!

So why is this significant? PMI can help people buy a home sooner, by enabling them to put less than 20% of the purchase price down when buying a home. This increase in purchasing power can sometimes be the difference between affording the home of your dreams...or not.

What's more, this deduction is not just for first-time homebuyers, so it can be used by current homeowners looking to upgrade to a new home. However, it does only apply to "qualified" residences, which typically include a primary residence and a vacation home, but not an investment property.

It's important to note that PMI is only tax deductible for homeowners with adjusted gross incomes of less than $110,000. Borrowers with adjusted gross incomes up to $100,000 may be able to deduct 100% of their 2011 premiums. Deductions are phased out in 10% increments for borrowers with adjusted gross incomes between $100,000 and $109,000.

As with any deduction, be sure to consult your tax advisor if you have any questions. And if there's anything at all I can do to help you with your mortgage, please let me know. I'm always happy to do whatever I can to make sure your mortgage is working for you!

Sincerely,

Derek Beisner
New American Funding

What Does Quantitative Easing Mean?

2011-01-14T11:45:00.001-08:00

What Does Quantitative Easing Mean?
And How Does it Impact Home Loan Rates?

Recently, we've seen a lot of movement and even volatility in the financial markets as the debate over the Fed's latest round of Quantitative Easing continues. If you've been wondering what Quantitative Easing actually is, here's what you need to know. Quantitative Easing is the concept of the Fed becoming a buyer of Treasuries and Bonds to help stimulate the economy. The Fed's goals for this latest round of Quantitative Easing (dubbed QE2) are threefold:

To create inflation and avoid a deflationary economy
To lower the unemployment rate
To boost Stock prices

While those goals may be good for businesses and the overall economy, we need to remember that all three are very unfriendly to Mortgage Bonds and home loan rates.

Give me a call if you want to review your situation, or mention this information to a friend, family member or colleague who might benefit. I’m always happy to talk to your referrals and provide a complimentary consultation.

The Difference Between Pre-Qualification and Pre-Approval

2011-01-05T15:08:00.000-08:00

The Difference Between Pre-Qualification and Pre-Approval
Pre-qualification is the first step in obtaining mortgage financing. A potential borrower answers a few questions to provide the loan consultant with a quick snapshot of the borrower's income, existing debt, accumulated savings and whether or not there is a co-borrower. Signature(s) allow the loan consultant to run a credit report and begin to determine what loans are good candidates for this particular client. However, there are literally thousands of loan programs available. It is important for the loan professional to know the long-term financial objectives of the prospective homeowner.

Pre-approval is a written documentation that proves the borrower has full support of a lender. It means the form 1003 Uniform Residential Loan Application has been completed and reviewed by an underwriter. Based on the borrower's income, debt ratio and savings, the underwriter will provide a dollar amount this borrower is eligible for. Now the borrower has the convenience of shopping for a home in the price range agreed upon by the lender.

Pre-approval allows potential homeowners to shop as cash buyers, and that means negotiating power. Sellers will take an offer from a pre-approved shopper much more seriously and may even accept a lower bid because they know the financing is in place and the deal is secure.

FHA Extends Condominium Project Expiration Dates

2010-12-17T14:16:00.000-08:00

There's great news from FHA! They have extended condominium project approvals that were previously due to expire on December 7, 2010. Here is a chart outlining the new expiration dates: Initial Project Approval Dates Previous Expiration Date New Expiration Date
1972 - 1980 December 7, 2010 December 31, 2010
1981 - 1985 December 7, 2010 December 31, 2010
1986 - 1990 December 7, 2010 May 31, 2011
1991 - 1995 December 7, 2010 July 31, 2011
1996 - 2000 December 7, 2010 August 31, 2011
2001 - 2005 December 7, 2010 September 30, 2011
2006 - 2008 (Sept.) December 7, 2010 March 31, 2011

FHA changed and staggered these expiration dates to have better control over the volume of condominium project renewals they must process. But keep in mind: they do not anticipate any further extensions!

If you have any clients who may benefit from these extensions, let me know as soon as possible. I'm always happy to help your clients secure the home of their dreams.

To look up condo expiration dates in your area use this site:

https://entp.hud.gov/idapp/html/condlook.cfm

Sincerely,

Derek Beisner
New American Funding
Phone: 949-637-9939
derek@derekbeisner.com

Which bills to pay?

2010-12-13T14:08:00.000-08:00

Managing your family budget can be difficult when you're pulled in so many directions. We can help combine your bills into one convenient loan that meets your needs and is easier to manage.

Call us today for a FREE consultation

Tips to Avoid Identity Theft

2010-10-07T12:21:00.000-07:00

Follow Me On:

Derek Beisner
Certified Mortgage Planning Specialist
New American Funding
Phone: 949-637-9939
Fax: 949-380-1819
License: NMLS # 288530
derek@derekbeisner.com

Tips to Avoid Identity Theft
According to the U.S. Department of Justice, about 1.6 million households have experienced some form of theft when it comes to their financial accounts. Here are some important tips for keeping your information safe and sound:

Just the Facts. Don't give unnecessary information like your date of birth and income level when you're filling out things like warranty cards or supermarket club cards. Share only what's really necessary in every situation.
Navigating the Net. Never post your address or your full date of birth on any social networking sites because both are pieces of information needed to steal your identity.
Searching for a Job? Never give a potential employer your Social Security number on an Internet job site. Also, thoroughly read the privacy policies of any online job boards to make sure they won't sell your information.
Safe Keeping. Never keep your Social Security number in your wallet, glove compartment, or any other easy-to-access place. Also, never have it printed on your checks or use it as your password.
Shred 'Em. Remember, when you're ready to get rid of old documents that contain important information, shred them with a cross cut shredder.
Protect Your Mail. If you have to mail something that contains sensitive information, use a secure mailbox (not the one at the end of your driveway).

The bottom line is this: When it comes to your personal information, share it on a need-to-know basis only!

Why refinance!

2010-10-04T10:15:00.000-07:00

Derek Beisner
Certified Mortgage Planning Specialist
New American Funding
Phone: 949-637-9939
Fax: 949-380-1819
License: NMLS # 288530
derek@derekbeisner.com

Why Refinance?
Homeowners refinance for different reasons, but the process of refinancing a mortgage should result in some benefit to the homeowner. Borrowers may choose to refinance to obtain a lower interest rate and a lower monthly payment, or change the type of loan that they have. Some homeowners refinance to 'cash out' and take advantage of the equity they have earned, while others may choose to refinance to shorten their loan term and build equity more quickly.

Regardless of the reason for refinancing, the mortgage consultant will need to know what the existing loan scenario entails. He/she will review the homeowner's long-term goals and provide a comprehensive spreadsheet that outlines various loan programs that will provide noteworthy benefits to the homeowner.

Bear in mind, refinancing to obtain a lower interest payment could also result in a lower deduction at tax time. The homeowner's tax consultant and mortgage consultant should work hand-in-hand with their mutual client's best interest in mind.

WHY YOU SHOULD USE A CERTIFIED MORTGAGE PLANNING SPECIALIST

2010-09-17T09:06:00.001-07:00

WHY YOU SHOULD USE A CERTIFIED MORTGAGE PLANNING SPECIALIST

• You deserve expert advice and the highest level of professionalism when dealing with a mortgage banker or direct lender! Derek Beisner has over 13 years experience.
Only 1% of all the loan officers in the United States are
CERTIFIED MORTGAGE PLANNING SPECIALISTS

• CMPS Members have demonstrated financial knowledge and expertise regarding the tax and financial planning implications of various mortgage and real estate investment strategies. Therefore, CMPS Members can better advise you when it comes to your largest debt (mortgage) and your largest asset (real estate equity).

• CMPS Members are trained to help you increase your cash flow, become debt free sooner and achieve true financial freedom.

• CMPS Members are equipped to protect you from mortgage and real estate investment scams.

• CMPS Members are qualified to help you save money on income, capital gains and estate taxes.

• CMPS Members are committed to help you improve your credit score and get the best deal on your financing.

• CMPS Members are able to explain the benefits and drawbacks of paying off your mortgage before retirement, and help you to determine which strategy works best under your individual circumstances.

• CMPS Members can guide you in implementing the best home equity and mortgage strategies for divorce situations.

• CMPS Members have pledged to follow a Code of Ethics!
" One of the greatest compliments I can receive is a personal referral!"

Derek Beisner
Certified Mortgage Planning Specialist
949-637-9939
derek.beisner@nafinc.com
NMLS # 288530

Home loan rates have dropped to some of their best levels...ever!

2010-09-10T14:07:00.000-07:00

Home loan rates have dropped to some of their best levels...ever! As a service to our clients, friends, and referral partners, I am offering a free, no pressure, review of your current situation. Even if you're scared you've lost too much equity in your home to qualify, you may still have options! Give me a call if you want to see if you can benefit from today's low-rate environment.

Call us today for a FREE consultation and we'll send you a copy of our Home Buyer's Handbook.

Derek Beisner
Certified Mortgage Planning Specialist
New American Funding
Phone: 949-637-9939
Fax: 949-380-1819
License: NMLS # 288530
derek@derekbeisner.com

NETWORKERS NEEDED! FREE BREAKFAST!

2010-09-02T11:24:00.000-07:00

NETWORKERS NEEDED! FREE BREAKFAST!

Check out www.OCLETIP.COM, I belong to a great networking group with over 50 members strong, which I started over 10 years ago. Please come have breakfast on me! It is FREE! Meet me there around 6:30 AM I will show you around! Bring at least 60 business cards with you and be ready to give us two 30 second commercial on how we can tip you and MAKE YOU MONEY!

******* Email me to see if your category is open in our group, before attending our group!
We meet every Thursday from 7:01 AM to 8:31 AM
Buffalo Wild Wings
23600 Rockfield Blvd. #3F-1
Lake Forest, CA 92630

Why Rent: Advantages of Home Ownership

2010-09-02T11:16:00.000-07:00

Why Rent: Advantages of Home Ownership
It's staggering when you think about the cost of living, especially if you're a renter and not a home owner. If you are currently paying $1,000 a month for rented housing, over the next three years your property management company will effectively have reaped $36,000 of your hard earned cash. In most cases, you know your rent will go up every year, even if you live in an area that has rent control regulations. You're paying the mortgage for the property owner, when you could be building equity in your own real estate investment.

The tax deductions available to homeowners vary, but there are solid rules the IRS lines out for us. Real estate taxes, mortgage interest, pre-paid interest, and interest on construction loans are all things to take into consideration as tax benefits.

If you or someone you know is currently renting, I urge you to call me to discuss the many loan programs that are currently available to prospective home buyers. My team and I work cohesively with the borrower's financial consultant to ensure the client's long-term goals are met.

Need a Smaller Down Payment?

2010-08-27T13:29:00.000-07:00

Need a Smaller Down Payment?
While down payment requirements have increased for some programs, it is still possible to buy a home with less than 5% down…or even NO money down.

For example, FHA offers a loan program that requires as little as 3.5% down. In addition, the VA and USDA offer loans that require no down payment. Of course, there are restrictions with each of these programs that can include maximum loan amounts based on your location with FHA loans, income and property requirements for those offered by the USDA, and your qualifying status as an eligible Veteran.

In addition to those programs, keep in mind that many sellers in today's market are willing to offer concessions, such as paying part or all of your closing costs. That can decrease the amount of funds you may be required to have to purchase your next home.

The point is that it's still possible for millions of Americans to purchase a home with less than 5% down.

Home loan rates have dropped to some of their best levels...ever!

2010-08-19T16:41:00.000-07:00

Home loan rates have dropped to some of their best levels...ever! As a service to our clients, friends, and referral partners, I am offering a free, no pressure, review of your current situation. Even if you're scared you've lost too much equity in your home to qualify, you may still have options! Give me a call if you want to see if you can benefit from today's low-rate environment.
Call us today for a FREE consultation and we'll send you a copy of our Home Buyer's Handbook

Derek Beisner
Certified Mortgage Planning Specialist
New American Funding
Phone: 949-637-9939
Fax: 949-380-1819
License: NMLS # 288530
derek@derekbeisner.com

Mortgage rates are their lowest ever!!!!

2010-08-12T10:00:00.000-07:00

Don't miss out on this great opportunity to refinance!
Take advantage of the recent dip in interest rates and put more cash in your pocket by reducing those monthly mortgage payments. Saving you money is a priority, so let us help you be part of this good news!

Thanks
Derek
Derek Beisner
Certified Mortgage Planning Specialist
New American Funding
Phone: 949-637-9939
Fax: 949-380-1819
License: NMLS # 288530
derek@derekbeisner.com

Your mortgage review made simple

2010-08-12T09:59:00.000-07:00

Your mortgage review made simple!

Please email me the following:
Address
Loan balance
Mortgage rate
Mortgage payment
Do you impound your account with taxes and insurance

How many:
Bedrooms
Bathrooms
Square footage
Do you have a
Pool
Spa
View

I can check with my appraiser and get a better idea of the real value, with this updated information.

Thanks
Derek
Derek Beisner
Certified Mortgage Planning Specialist
New American Funding
Phone: 949-637-9939
Fax: 949-380-1819
License: NMLS # 288530
derek@derekbeisner.com

Top 10 Credit Don’ts During the Loan Process

2010-08-06T11:31:00.001-07:00

Top 10 Credit Don’ts During the Loan Process

Many are taking advantage of interest rates at historic lows, either by re-structuring debt with a refinance or purchasing a new home. However, the recent economic crisis has created even tougher guidelines and credit requirements and there are some things that consumers must be aware of when applying for a loan.

Leading nationwide credit expert and President of Credit Resource Corporation, Linda Ferrari, developed the top 10 credit don'ts during the loan process, to help you get your arms around those things that can unknowingly wreak havoc on your loan transaction.

1. Don't do anything that will cause a red flag to be raised by the scoring system
2. Don't apply for new credit of any kind
3. Don't pay off collections or charge offs
4. Don't max out or over charge on your credit card accounts
5. Don't consolidate your debt onto 1 or 2 credit cards
6. Don't close credit card accounts
7. Don't pay late
8. Don't allow any accounts to run past due-even one day!
9. Don't dispute anything on your credit report
10. Don't lose contact with your mortgage and real estate professio

FREE BREAKFAST! At Orange County Le Tip in Lake Forest

2010-06-25T16:46:00.000-07:00

FREE BREAKFAST! At Orange County Le Tip in Lake Forest
We had over 400 tips/ referrals given last month
Check out OCLETIP.COM to see if your category is open!
Call me for more details 949-637-9939

We need the following:
Hairdresser
Attorney - Family
Auto Body Repair
Auto Sales
Auto Detailer
Cleaning Services
Computer Systems
Contractor - Floorcovering
Copiers, Faxes & Printers
Electrical Contractor
Floral Shop
Graphic Design
Heating & Air Cond & Plumbing
Landscaping
Optometrist
Painter
Real Estate - Commercial
Security Services: Residential
Telephone Service

We meet every Thursday from 7:01 AM to 8:31 AM
Buffalo Wild Wings
23600 Rockfield Blvd. #3F-1
Lake Forest, CA 92630

June 2010 Rates at ALL Time Lows (2010-06-25)

2010-06-25T15:40:00.000-07:00

June 2010 Rates at ALL Time Lows (2010-06-25)

Time waits for no one…and when rates rise, they will rise quickly

2010-06-25T15:13:00.000-07:00

30 year fixed 4.375% LOWEST RATES EVER!

Do you know of any one looking to refinance, buy or sell their existing homes!

I LOVE REFERRALS!

Today’s interest rates are lowest they have been in decades!

30 year fixed 4.375% APR 4.49%
15 year fixed 4.5% APR 4.62%
10 year fixed 3.75% APR 3.89%

Call me for your 5 minute mortgage review

Home Buyers Workshop with Derek

2010-06-14T11:52:00.000-07:00

Come Join us at
William Jordan Associates
23332 Mill Creek Suite 260, Laguna Hills, CA. 92653

Wednesday June 23rd from 6:00 p.m. to7:30 p.m.

LEARN HOW TO:
Take advantage of record-high foreclosures & record-low interest rates!
Take advantage of the $10,000 government tax credit …expires 12/31/2010
Buy NOW with as little as 3.5% down payment.
Speak to credit correction specialists (Derek Beisner) that can correct and/or clean up smeared credit!
Find out from a tax advantage why it makes sense to OWN rather than rent!

REGISTER NOW! derek@derekbeisner.com or call

RSVP: Call 949-637-9939

Wanted:
Anyone looking to buy or sell
Renters
Real Estate Investors

Great News for California Homebuyers

2010-05-12T13:09:00.000-07:00

Great News for California Homebuyers
$10,000 New Home and First-Time Buyer Tax Credits Available May 1

There’s good news for California home buyers who want to purchase a home this year, but are unable to get under contract before the April 30th deadline for the Federal Government’s $8,000 Homebuyer Tax Credit program. In late March, Governor Arnold Schwarzenegger signed legislation that will provide a state tax credit of up to $10,000 to Californians who are buying their first home or purchasing a brand new home.

Here are important details to know about this tax credit:

Dates: These tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. The purchase date is defined as the date escrow closes. The tax credit will be applied in equal amounts over three years.

For both the New Home Tax Credit and First-Time Buyer Credit: A qualified principal residence must:

Be a single family residence, either detached or attached;
Be eligible for the California property tax homeowner’s exemption, and
Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.
In addition, for buyers to be eligible for the New Home Tax Credit, sellers must certify that the property has never been occupied. For purposes of the First-Time Buyer Credit, a first-time buyer is any individual who has not owned a home in the three years prior to purchase.

Eligibility: Taxpayers will not be eligible for either tax credit if the taxpayer (1) was allowed a 2009 New Home Credit, (2) is under 18 years old, (3) is related to the seller (or if the taxpayer’s spouse is related), or (4) is a dependent.

This tax credit is available to buyers on a first-come, first-serve basis! The 2009 California Homebuyer Tax Credit ran out after just four months! For California residents planning to purchase a home in 2010, acting sooner rather than later could make a big difference in your wallet!

For more information, visit http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml.

Sincerely,

Derek Beisner
New American Funding
DRE# 01213190

Phone: 949-637-9939

derek@derekbeisner.com

Great News for California Homebuyers

2010-04-23T11:50:00.000-07:00

Great News for California Homebuyers
$10,000 New Home and First-Time Buyer Tax Credits Available May 1
There’s good news for California home buyers who want to purchase a home this year, but are unable to get under contract before the
April 30th deadline for the Federal Government’s $8,000 Homebuyer Tax Credit program. In late March, Governor Arnold
Schwarzenegger signed legislation that will provide a state tax credit of up to $10,000 to Californians who are buying their first home or
purchasing a brand new home.
Here are important details to know about this tax credit:
Dates: These tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before
January 1, 2011. The purchase date is defined as the date escrow closes. The tax credit will be applied in equal amounts over three
years.
For both the New Home Tax Credit and First-Time Buyer Credit: A qualified principal residence must:
· Be a single family residence, either detached or attached;
· Be eligible for the California property tax homeowner’s exemption, and
· Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.
In addition, for buyers to be eligible for the New Home Tax Credit, sellers must certify that the property has never been occupied. For
purposes of the First-Time Buyer Credit, a first-time buyer is any individual who has not owned a home in the three years prior to
purchase.
Eligibility: Taxpayers will not be eligible for either tax credit if the taxpayer (1) was allowed a 2009 New Home Credit, (2) is under 18
years old, (3) is related to the seller (or if the taxpayer’s spouse is related), or (4) is a dependent.
This tax credit is available to buyers on a first-come, first-serve basis! The 2009 California Homebuyer Tax Credit ran out after
just four months! For California residents planning to purchase a home in 2010, acting sooner rather than later could make a big
difference in your wallet!
For more information, visit http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml.
Sincerely,
Derek Beisner
New American Funding
Phone: 949-637-9939
derek.beisner@nafinc.com

Great News for California Homebuyers

2010-04-12T15:29:00.000-07:00

Great News for California Homebuyers$10,000 New Home and First-Time Buyer Tax Credits Available May 1
There’s good news for California home buyers who want to purchase a home this year, but are unable to get under contract before the April 30th deadline for the Federal Government’s $8,000 Homebuyer Tax Credit program. In late March, Governor Arnold Schwarzenegger signed legislation that will provide a state tax credit of up to $10,000 to Californians who are buying their first home or purchasing a brand new home.Here are important details to know about this tax credit:Dates: These tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. The purchase date is defined as the date escrow closes. The tax credit will be applied in equal amounts over three years.For both the New Home Tax Credit and First-Time Buyer Credit: A qualified principal residence must:
Be a single family residence, either detached or attached;
Be eligible for the California property tax homeowner’s exemption, and
Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.
In addition, for buyers to be eligible for the New Home Tax Credit, sellers must certify that the property has never been occupied. For purposes of the First-Time Buyer Credit, a first-time buyer is any individual who has not owned a home in the three years prior to purchase. Eligibility: Taxpayers will not be eligible for either tax credit if the taxpayer (1) was allowed a 2009 New Home Credit, (2) is under 18 years old, (3) is related to the seller (or if the taxpayer’s spouse is related), or (4) is a dependent.This tax credit is available to buyers on a first-come, first-serve basis! The 2009 California Homebuyer Tax Credit ran out after just four months! For California residents planning to purchase a home in 2010, acting sooner rather than later could make a big difference in your wallet!
Sincerely,Derek Beisner
New American Funding
Phone: 949-637-9939
derek.beisner@nafinc.com

Governor Schwarzenegger Signs $10,000 Homebuyer Tax Credit Legislation

2010-03-29T10:55:00.000-07:00

Governor Arnold Schwarzenegger today returned to the La Ventana Homes project in Fresno where he kicked off his campaign to extend and expand the hugely successful homebuyer tax credit to sign legislation that will do just that. AB 183, authored by Assemblymember Anna Caballero (D-Salinas) and Senator Roy Ashburn (R-Bakersfield), will provide a tax credit of up to $10,000 to Californians who are buying their first home or purchasing a brand new home. This legislation, part of the Governor’s larger California Jobs Initiative, will play a key role in getting our economy moving again by encouraging home ownership and stimulating job creation.

“I have been up and down the state pushing this important housing bill that will get people off the fence and into homes while creating jobs and stimulating our economy – and today I am proud to take action and put it into law,” said Governor Schwarzenegger. “Creating jobs is my number one priority and I am glad that I have been able to sign two job-creating bills in two days. I applaud the legislature for their great work and encourage them to keep it up and pass the remaining job-creating elements of my California Jobs Initiative.”

AB 183 was passed by the legislature on March 22 and gives the Franchise Tax Board authority to extend a total of $200 million in tax credits to California homebuyers; $100 million for buyers of new, unoccupied homes and another $100 million for first-time buyers of existing homes. The credit will be extended from May 1, 2010 to December 31, 2010. The tax credit will be available to buyers on a first-come, first-served basis and is applied in equal amounts over a period of three taxable years. To qualify, the buyer must not be a dependant and must purchase a home that does not belong to a relative.

Governor Schwarzenegger fought hard to extend and expand the homebuyer tax credit after its successful run in 2009. That $100 million tax credit, which was approved in February 2009, ran out after just four months with 10,659 Californians claiming the credit – increasing home purchases, jumpstarting building projects and boosting local economies. In fact, La Ventana Homes saw a 300 percent increase in sales when the tax credit went into effect.

The homebuyer tax credit is a part of the larger California Jobs Initiative that the Governor proposed in his State of the State address in January to create jobs and stimulate the economy. Today’s bill is the second piece of it to be approved by the legislature. A sales tax exemption on green-tech manufacturing equipment was also approved to encourage green businesses to relocate and invest in California. The Governor signed that yesterday.

Press Release on William Jordan Associates

2010-03-09T13:28:00.000-08:00

Press Release
Financial Services Group William Jordan Associates Expands in Laguna Hills-Earns Five Star...03.08.10, 10:25 AM EST

BusinessWire - William Jordan Associates (www.williamjordanassociates.com) formerly The Sentinel Group, announces the addition of four new services to its Laguna Hills office. The wealth management firm known for investment, retirement and high net worth charitable giving strategies, now offers: tax preparation and planning headed by Mark Currier, CPA; estate and trust planning managed by Dawn Stark, Attorney at Law; residential real estate services managed by Zen Ziejewski, Realtor; and personal finance community outreach programs led by nationally recognized author, Lisa Horczi Markus. Continuing to offer real estate lending solutions is Derek Beisner, Certified Mortgage Planner. In addition, Vice President Tiphanie Jordan has earned her registered life planning (RLP) designation to enhance the firm's life planning services, and President William Jordan has been named a FIVE STAR Wealth Management Professional. This year only the top three percent of professionals in their field earned the Five Star award in Orange County, California.
To hold the new departments, William Jordan Associates has expanded its office space at 23332 Mill Creek in Laguna Hills. "This is a time of significant growth for our firm," William Jordan says. "Most personal financial groups lost revenues in 2009. Last year we actually increased revenues and assets under management."
The FIVE STAR recognition program (www.fivestarprofessional.com), which honored William Jordan in wealth management, identifies service professionals unique in the marketplace, and is specifically designed to help consumers identify professionals who have scored highest in overall client satisfaction. The FIVE STAR Award is based on customer evaluations, industry professional evaluations and a full review of the industry regulatory agencies. The program is managed by Crescendo Business Services, LLC of Eagan, Minnesota.
About William Jordan Associates
William Jordan Associates is nationally recognized for financial planning, wealth management and higher education funding. Jordan's financial expertise is regularly quoted in national publications such as the Wall Street Journal, TIME, Kiplinger's, BusinessWeek and Forbes, among others. William Jordan has been featured on Money 101 on CBS Radio Network, CNBC Reports, CNBC Closing Bell, The Wall Street Journal Report with Maria Bartiromo, CNBC Power Lunch, among other nationally syndicated financial programs.
William Jordan holds Series 7, Series 24, Series 63, and Series 65 designations. William Jordan Associates is a Registered Investment Advisor (RIA) with the State of California, www.williamjordanassociates.com (949) 380-8600.

Those Who Wait Will Pay Thousands More This Spring

2010-02-19T12:12:00.000-08:00

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.Here are a few reasons why:On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.It is important to note that in order to be eligible for the lower cost up-front mortgage insurance, a lender has to order a case number from the FHA before April 5th. A case number can only be generated for loan applications where a property is involved and a fully executed purchase contract exists. Home buyers who have been pre-approved but are not under contract will not be eligible for the reduced premium effective April 5th.Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.There is only one way to avoid being affected by all of these costly changes that lie ahead – submit all FHA mortgage applications by the last week of March. If I can answer any questions you may have about how these changes could impact you, call me. I appreciate your business.Sincerely,Derek BeisnerPremier Lending Group949-637-9939derekb@plgp.com

Those Who Wait Will Pay Thousands More This Spring

2010-01-29T11:56:00.001-08:00

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.Here are a few reasons why:On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.There is only one way to avoid being affected by all of these costly changes that lie ahead – submit all FHA mortgage applications by the last week of March. If I can answer any questions you may have about how these changes could impact you, call me. I appreciate your business.Sincerely,Derek BeisnerPremier Lending Group949-637-9939derekb@plgp.com

Dear Valued Client,

2010-01-28T15:21:00.000-08:00

Dear Valued Client,A lot has changed in the real estate and mortgage markets since the last time we spoke. And I just wanted to assure you that, despite challenges in our economy and the major changes that have occurred in my industry, I am still in the mortgage business and my business is still thriving.Many of my clients have been calling me recently, wondering what effects this unprecedented volatility might have on their long-term financial goals and needs. I thought I would take this opportunity to reach out to you to address any concerns you may have about your mortgage. With this in mind, be on the lookout for some great financial tips and advice I'll be sending your way in the coming weeks and months.As a trusted Mortgage Advisor to my clients, these are the times you can count on me most, even if we haven't communicated for some time. So, please do not hesitate to give me a call if you or someone you know has any questions about securing home financing in today's tougher market.Sincerely,Derek BeisnerPremier Lending Group949-637-9939derekb@plgp.com

First Time Homebuyer Tax Credit Extended Into 2010!

2010-01-22T09:33:00.000-08:00

First Time Homebuyer Tax Credit Extended Into 2010! Plus...A New Tax Credit for Certain Existing Home Owners!
It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Homebuyer Tax Credit – Frequently Asked QuestionsHere are answers to some commonly asked questions about the tax credit.
What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
You do not use the home as your principal residence.
You sell your home before the end of the year.
You are a nonresident alien.
You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.
Can you buy a home from a step-relative and be eligible for the credit? Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.
Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit? Yes.
Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years? No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.
If you have any questions that fall outside the situations here, give me a call and if you do not have an accountant to speak with, I can refer you to one.

First Time Homebuyer Tax Credit Extended Into 2010!

2009-12-15T16:10:00.000-08:00

WHY YOU SHOULD USE A CERTIFIED MORTGAGE PLANNING SPECIALIST

2009-12-07T12:33:00.000-08:00

WHY YOU SHOULD USE A CERTIFIED MORTGAGE PLANNING SPECIALIST
• You deserve expert advice and the highest level of professionalism when dealing with a mortgage broker or lender!• CMPS Members have demonstrated financial knowledge and expertise regarding the tax and financial planning implications of various mortgage and real estate investment strategies. Therefore, CMPS Members can better advise you when it comes to your largest debt (mortgage) and your largest asset (real estate equity).• CMPS Members are trained to help you increase your cash flow, become debt free sooner and achieve true financial freedom.• CMPS Members are equipped to protect you from mortgage and real estate investment scams.• CMPS Members are qualified to help you save money on income, capital gains and estate taxes.• CMPS Members are committed to help you improve your credit score and get the best deal on your financing.• CMPS Members are able to explain the benefits and drawbacks of paying off your mortgage before retirement, and help you to determine which strategy works best under your individual circumstances.• CMPS Members can guide you in implementing the best home equity and mortgage strategies for divorce situations.• CMPS Members have pledged to follow a Code of Ethics!
" One of the greatest compliments I can receive is a personal referral!"

Derek Beisner
Certified Mortgage Planning Specialist
949-637-9939
derekb@plgp.com
www.derekbeisner.com
DRE Lic. #01213190

CERTIFIED MORTGAGE PLANNING SPECIALIST

2009-11-17T17:20:00.000-08:00

WHY YOU SHOULD USE A
CERTIFIED MORTGAGE PLANNING SPECIALIST
• You deserve expert advice and the highest level of professionalism when dealing with a mortgage broker or lender!• CMPS Members have demonstrated financial knowledge and expertise regarding the tax and financial planning implications of various mortgage and real estate investment strategies. Therefore, CMPS Members can better advise you when it comes to your largest debt (mortgage) and your largest asset (real estate equity).• CMPS Members are trained to help you increase your cash flow, become debt free sooner and achieve true financial freedom.• CMPS Members are equipped to protect you from mortgage and real estate investment scams.• CMPS Members are qualified to help you save money on income, capital gains and estate taxes.• CMPS Members are committed to help you improve your credit score and get the best deal on your financing.• CMPS Members are able to explain the benefits and drawbacks of paying off your mortgage before retirement, and help you to determine which strategy works best under your individual circumstances.• CMPS Members can guide you in implementing the best home equity and mortgage strategies for divorce situations.• CMPS Members have pledged to follow a Code of Ethics!
Derek Beisner, Certified Mortgage Planning Specialist
" One of the greatest compliments I can receive is a personal referral!"

949-637-9939
derekb@plgp.com
www.derekbeisner.com
DRE Lic. #01213190

First Time Homebuyer Tax Credit Extended Into 2010!

2009-11-13T13:35:00.000-08:00

It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers (FTHBs) into the first half of 2010. This program had been scheduled to expire on November 30, 2009.
In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.
So Who Gets What? The program that has existed for FTHBs remains intact with the one exception that more people are now eligible based on an increase in the amount of income someone may now earn.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
Deadlines In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.
Higher Income Caps in Effect The amount of income someone can earn and qualify for the full amount of the credit has been increased.
Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.
Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.
Maximum Purchase Price Qualifying buyers may purchase a property with a maximum sales price of $800,000. First-Time Homebuyer Tax Credit – Frequently Asked QuestionsHere are answers to some commonly asked questions about the tax credit.
What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this credit does not require repayment unless the home, at any time in the first 36 months of ownership, is no longer an individual's primary residence.
What is the tax credit for first-time homebuyers (FTHBs)? An eligible homebuyer may request from the IRS a tax credit of up to $8,000 or 10% of the purchase price for a home. If the amount of the home purchased is $75,000, the maximum amount the credit can be is $7,500. If the amount of the home purchased is $100,000, the amount of the credit may not exceed $8,000.
Who is eligible for the FTHB tax credit? Anyone who has not owned a primary residence in the previous 36 months, prior to closing and the transfer of title, is eligible. This applies both to single taxpayers and married couples. In the case where there is a married couple, if either spouse has owned a primary residence in the last 36 months, neither would qualify. In the case where an individual has owned property that has not been a primary residence, such as a second home or investment property, that individual would be eligible.
As mentioned above, the tax credit has been expanded so that existing homeowners who have owned and occupied a primary residence for a period of five consecutive years during the last eight years are now eligible for a tax credit of up to $6,500.
How do I claim the credit? For those taking advantage of the tax credit in 2009, you may choose to either apply for the credit with your 2009 tax return or you may apply for the credit sooner by filing an amended 2008 tax return with Form 5405 (http://www.irs.gov/pub/irs-pdf/f5405.pdf).
Can you claim the tax credit in advance of purchasing a property? No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
Can a taxpayer claim a credit if the property is purchased from a seller with seller financing and the seller retains title to the property? Yes. In situations where the buyer purchases the property, even though the seller retains legal title, the taxpayer may file for the credit. Examples of this would include a land contract, contract for deed, etc. According to the IRS, factors that would demonstrate the ownership of the property would include: 1. the right of possession, 2. the right to obtain legal title upon full payment of the purchase price, 3. the right to construct improvements, 4. the obligation to pay property taxes, 5. the risk of loss, 6. the responsibility to insure the property and 7. the duty to maintain the property.
Are there other restrictions to taking the credit? Yes. According to the IRS, if any of the following describe your situation, a credit would not be due.
You buy your home from a close relative. This includes your spouse, parent, grandparent, child or grandchild.
You do not use the home as your principal residence.
You sell your home before the end of the year.
You are a nonresident alien.
You are, or were, eligible to claim the District of Columbia first-time homebuyer credit for any taxable year. (This does not apply for a home purchased in 2009.)
Your home financing comes from tax-exempt mortgage revenue bonds. (This does not apply for a home purchased in 2009.)
You owned a principal residence at any time during the three years prior to the date of purchase of your new home. For example, if you bought a home on July 1, 2009, you cannot take the credit for that home if you owned, or had an ownership interest in, another principal residence at any time from July 2, 2006, through July 1, 2009.
Can you buy a home from a step-relative and be eligible for the credit? Yes. Provided the person you are buying a home from is not a direct blood relative, the purchase would be allowed.
Can parent(s) who will not live in the property cosign for a mortgage for their child and the child that is a qualifying FTHB still be eligible for the credit? Yes.
Can a separated spouse who has not owned a home for four years qualify for the FTHB tax credit if the spouse has owned a property anytime in the last three years? No. However, the spouse may be eligible for the repeat buyer credit. The best path to take in any situation regarding income taxes is to speak with a professional tax preparer or CPA.
If you have any questions that fall outside the situations here, give me a call and if you do not have an accountant to speak with, I can refer you to one.

WHY YOU SHOULD USE A CERTIFIED MORTGAGE PLANNING SPECIALIST

2009-11-05T11:25:00.000-08:00

WHY YOU SHOULD USE A CERTIFIED MORTGAGE PLANNING SPECIALIST
• You deserve expert advice and the highest level of professionalism when dealing with a mortgage broker or lender!• CMPS Members have demonstrated financial knowledge and expertise regarding the tax and financial planning implications of various mortgage and real estate investment strategies. Therefore, CMPS Members can better advise you when it comes to your largest debt (mortgage) and your largest asset (real estate equity).• CMPS Members are trained to help you increase your cash flow, become debt free sooner and achieve true financial freedom.• CMPS Members are equipped to protect you from mortgage and real estate investment scams.• CMPS Members are qualified to help you save money on income, capital gains and estate taxes.• CMPS Members are committed to help you improve your credit score and get the best deal on your financing.• CMPS Members are able to explain the benefits and drawbacks of paying off your mortgage before retirement, and help you to determine which strategy works best under your individual circumstances.• CMPS Members can guide you in implementing the best home equity and mortgage strategies for divorce situations.• CMPS Members have pledged to follow a Code of Ethics!

" One of the greatest compliments I can receive is a personal referral!"

Derek Beisner
Certified Mortgage Planning Specialist
Premier Lending Group
23332 Mill Creek Suite 260
Laguna Hills, CA. 92653
949-637-9939
949-380-1819 Fax
derekb@plgp.com
www.derekbeisner.com
DRE Lic. #01213190

Derek Beisner's Weekly Mortgage News

2009-09-21T10:08:00.000-07:00

Everyone Wants a Lower Price, But What About the Impact of Interest Rates?
Download PDF Version Here Download Pre-Approval PDF
When shopping for a home, the natural tendency of any buyer is to want to pay the lowest price possible. It’s important to keep in mind, however, that the sales price is not the only factor that determines what the monthly payment will be. In fact, the impact of higher interest rates can easily nullify any benefit of waiting for a lower price.
Why Should I Rush to Buy?
While you may have heard discussions in the media about the decline of property values in many markets, the rate of decline appears to be stabilizing.
That being said, it would not be unreasonable for buyers to want to hold out for an additional decline of 10%, hoping to capture the best possible price. However, as property values have declined in many areas to 2003 levels or lower, waiting longer to pull the trigger could be a mistake. Many markets are reporting that lower property values have been bringing out investors and the result has been multiple offers on many properties. Properties priced correctly are not declining and, in fact, are creating a lot of interest.
Interest Rate Complacency
The problem is that many home buyers have been lulled into a sense of complacency because of extremely low interest rates. Since the Federal Reserve initiated its program of buying mortgage-backed securities, which control the rates people pay for their home loans, rates have been range bound, bouncing between 4.50% to 5.00% for a 30-year fixed-rate loan.
But buyers shouldn’t be confused by this. These rates are artificially low! Historically, interest rates have been above 6.00%. And any rate obtained below this number is a great deal, especially on homes with price tags from 2003!
Markets are Unforgiving
The last two weeks of May showed just how unforgiving the markets can be for people who choose to procrastinate. In just five days, interest rates from many lenders increased anywhere from .50% to 1.00% as fixed-income investors demanded more for their money.
Derek BeisnerCertified Mortgage PlannerPremier Lending Group

8000 tax credit for home buyers

2009-09-01T09:17:00.000-07:00

New $8,000 Tax Credit for First-time Home Buyers
Great news for first-time home buyers in 2009! The stimulus plan that President Obama signed into law contains a new $8,000 tax credit for qualified first-time home buyers. And, unlike the $7,500 tax credit from last year, this credit does NOT have to be repaid to the government, as long as you stay in the home for at least 36 months after the purchase date. Remember, a tax credit is much more valuable than a tax deduction. A tax credit reduces dollar for dollar the amount of tax you owe. A deduction merely reduces the amount of your income that is taxable. This means the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Who?First-time buyers or anyone who hasn't owned a home in the 3 years prior to a purchase of a primary residence may qualify for a tax credit of up to 10% of the purchase price or $8,000, whichever is less. To qualify for the full credit, the buyer's modified adjusted gross income must be less than $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return. Partial credit is proportionally reduced for incomes under $95,000 (single) or $170,000 (married). For married taxpayers, the homeownership history of both the home buyer and his/her spouse are taken into account. This means if you or your spouse has owned a principal residence in the last 3 years, neither you nor your spouse qualifies for the credit. What?According to the IRS, a primary residence is the one you live in most of the time. It can be a house, houseboat, housetrailer, cooperative apartment, condominium, or other type of residence. If you constructed your main home, you are treated as having purchased it on the date you first occupied it. When?The $8,000 tax credit is available for qualifying home purchases made from Jan. 1, 2009, until Dec. 1, 2009. This is not a typo. To receive the credit you must purchase a qualified home before December 1st, 2009 – not the end of the year. How?Unfortunately, you can NOT use the credit as a down payment. To receive the credit, you must purchase a qualified home first and then claim it on either your 2008 or 2009 taxes. If you make a qualified purchase after April 15, or after having already filed your 2008 taxes, you and your tax professional can submit an amendment to your return. To claim the credit, use form 5405. Why?The current combination of lower home prices and lower interest rates makes for an amazing opportunity to buy real estate. Add to that this $8,000 gift from the government, and renting a home just doesn't make much sense. If you or someone you know is ready to stop paying the landlord's mortgage and start building equity in your own home, give us a call. We'll run the numbers and see what makes sense for your individual financial needs. Sincerely,Derek BeisnerPremier Lending Group949-637-9939derekb@plgp.com

Affordable Housing for California Homeowners - Housing and Economic Recovery Act

2008-08-13T16:09:00.000-07:00

On July 30, 2008 President Bush signed into law H.R. 3221 which is the "Housing and Economic Recovery Act of 2008,". The Housing and Economic Recovery Act of 2008 is a $300 Billion program to help homeowners that may be in trouble, avoid foreclosure, and to boost confidence in the currently slow housing market in California.

This landmark legislation is in the process of being analyzed to see how it affects you, and what opportunities it presents to your financial wants and needs.

The bill alone is hundreds of pages and contains many detailed and complex conditions that can be interpreted in many ways. As your trusted California Home Loan agent, I've already seen and read a lot of conflicting analysis of this important bill in the media.

In the near future, I will discuss more accurate and trust worthy details in regards to this bill, not to mention how you might benefit from it!

Here are a few of the stand-out items that are quite exciting...

New tax incentives for California homeowners and buyers.
An extension of higher loan limits at preferred interest rates.
Reliable help for homeowners that may be heading towards foreclosure.

These are just a few incentives which will also help improve property values in your neighborhoods.

In addition, the new tax credit and changes, still in limbo, for particular mortgage programs could make this one of the most beneficial opportunities in a LONG time for first-time home buyers.

If you have any questions or concerns regarding the new legislation and how it may affect your mortgage or your plans to buy a new home, give me a call or shoot me an email!

Derek@DerekBeisner.com
Phn: (949) 637-9939

Tips for Avoiding Foreclosure from a California Home Loan Specialist

2008-08-13T11:24:00.000-07:00

Unless you have been boycotting television, radio and newspapers for the past year or two, you most likely know that the United States is heading through some rocky terrain when it comes to housing markets and lending practices. Unfortunately, not everyone in the lending business had the consumers’ best interest in mind and many of them sold buyers on a loan that they couldn’t afford and that was not right for them.

It really is a shame that there are lenders out there that are willing to deceive and manipulate clients for a few measly bucks. But the fact is, it happens everyday and there are many great people that lost their homes and ruined their credit because of it. And there are thousands more heading down that slippery slope right now.

If you are one of these people that are facing foreclosure, you probably think that there is no way out. But the fact is, most banks really don’t want your home and are more then willing to work with you to find an alternative plan. Did you know that by just calling your mortgage lender and talking to them about the situation can often times keep your bank from taking back the property? Many banks are more then happy to work out some sort of alternative payment plan – all you have to do is make the effort to ask.

You can also choose to refinance your loan, which can help lower your mortgage payment in many cases. (Word of warning – don’t use the same lender that sold you on your first unaffordable loan – chances are they aren’t going to start looking out for you now when they didn’t the first time around.) If you have an adjustable rate mortgage or a sub-prime loan, refinancing to a fixed California home loan now can really save you lots of money and can help to ensure that you don’t become a victim of foreclosure.

The lesson here is that you should not give up on fighting for your home. If you truly cannot afford the home you live in, then sell it. I know now is not the greatest market in the world, but its far better to break even or even take a small loss then it is to have a foreclosure on your record. But before you make any decisions, do yourself a favor and talk to a trusted California home loan specialist. If you don’t know where to turn or need help finding a lender in your area, shoot me an email at Derek@DerekBeisner.com.

Free Dinner for Homeowners!

2008-07-05T13:53:00.000-07:00

SEVEN OF THE BIGGEST MISTAKES HOMEOWNERS MAKE

Learn How to Save Thousands of Dollars!

This is a new FREE informational serminar unlike anything you have seen or heard before. You are almost guaranteed to find your're making some of these mistakes but don't know it!
You do not want to miss this workshop if you:

-Have equity in real estate.

-Are planning to retire within the next 1-20 years and want to maximize your income in retirement.

-Would like to increase your wealth without taking additional risks.

When: Tuesday, July 29, 6:30PM

Where: Waters Lakehouse Restaurant4615 Barrance Parkway, Irvine, CA US

To Reserve Your Seat please Call - Gina Ambrose (949) 380-8600 Ext: 224

Financial Planning Crisis Part 1

2008-06-08T20:28:00.000-07:00

How secure would you say your financial future is? If you are anything like the millions of Americans that are living beyond their means and low on capitol, then we have some serious financial planning to do for you! Very few people have little to no money invested in a 401k/IRA/Keogh account but, its not too late. What many people don't understand is that they are LIVING in their greatest financial asset... their HOME.

If you are one that has financial discipline combined with my professional know-how, we can manage your California home equity to earn you FAR MORE than your houses market price. We can also help protect your hard earned income against tax liability. If you are thinking that you have years to plan for your future than consider this.....

There are TWO things that often get forgotten:
1. College tuition's DOUBLE about every decade. The cost of send your young children to college will be roughly THREE times higher than it is right now!
2. You can expect and average of $10,000 in extra, unplanned medical expenses for the average elderly couple.

How can you incorporate your mortgage into your financial plan?

The first step would be to contact a trusted Orange County home loan expert such as myself. In order to property manage this amazing equity in your home, you should be having bi-annual mortgage "check-ups". I can then "mine" the cash that has been earned in your house and help you to invest it into an interest-earning, conservative financial portfolio. An accountant can further assist in this process to monitor this portfolio and continue to achieve the best tax savings for you.

How can you "mine" the equity in your home?

Equity will accumulate in your home in 4 ways:
1. The down payment
2. Appreciation in the housing market
3. Renovations
4. Principle payments to the mortgage

All of this equity is trapped money that can be easily invested and may be causing you to lose the ability of interest tax write-offs which is the BIGGEST tax shelter that Americans are given. In addition, the average California home loan owner actually takes on a greater tax liability as they pay down their mortgage!

Stay tuned to next months post to see how this new cash can work for you!

Discover how to put your home's equity to work for you!

Call us today and learn how at (949) 637-9939

Fed Cuts and Stimulus Checks

2008-05-04T12:00:00.000-07:00

The Federal Reserve cut interest rates on April 30th for the seventh straight time since September of last year and the first Stimulus Act rebate checks are hit millions of mailboxes last week. With this recent surge in the economy you may be asking yourself how investing stimulus checks in real estate and low interest rates may benefit you.

If you are a California first time home buyer, this market is especially great for you. An expert in the loan process, like myself, can readily help with any questions you may have. With the housing market the way it is right now, it is definitely the perfect time to find a hot orange county listing at an amazing price!

Another great perk right now for anyone considering buying a home is that the government has temporarily increased FHA loan limits in many areas across the United States. These loans require no down and are not FICO driven. But these new loans expire at the end of the year so you must act now to take advantage of them. If you had been taking the watch-and-wait approach with your adjustable rate mortgage (ARM), you may want to apply for a California fixed rate mortgage. This will be the end of the Fed's cutting spree, so the clock is ticking till rates start to go back up.

Don't let this unique market pass you by! Take advantage of all that it can do for you, Contact Derek Beisner at Derek@DerekBeisner.com or apply for a loan online today!

Your Financial Dreams Can Come True

2008-04-15T22:57:00.000-07:00

You are cordially invited to attend a FREE DINNER SEMINAR.

This event is by invitation only. Please R.S.V.P. to reserve the number of seats you'll need. Seating is limited, so call Bettie Blauser at (949) 380-8600 ext 221 today.

"How the Affluent Manage Home Equity to Safely and Conservatively Build Wealth"

This Financial Seminar is designed to help you learn the following:

· Why people fear mortgages and why you shouldn't!
· Why large equity in your home can be a big disadvantage!
· Why you should separate equity from your home!
· If you were offered an investment that could never go up in value, but might go down, how much of it would you want? How much do you already have?!
· Is equity in your home a prudent investment?
· Should you make extra principle payments on your mortgage?
· Does substantial equity in your home enhance your net worth?
. You will learn the one secret to financial planning that most professionals don't even use!

You do not want to miss this workshop if you:

· Have equity in real estate.
· Are planning to retire within the next 1 – 20 years and want to maximize your income in retirement.
· Would like to increase your wealth without taking additional risks.

Your hosts and speakers will be William Jordan and Derek Beisner. Derek Beisner has been a Mortgage Planner for over 11 years and has helped hundreds of his clients achieve their financial goals and dreams, with his unique approach to Strategic Equity Management. William is President of Sentinel Capital Management, Inc. For the last decade, William has been educating and assisting Orange County's investors in planning their financial futures. He does this by designing financial strategies to allow them to accomplish the financial goals that are most important in their lives without undue sacrifices to lifestyle or unnecessary investment risk.
This is an educational seminar with no attempt to sell specific investments. There is no cost or obligation. We guarantee it will be time well spent!!

When: Tuesday, April 29th @ 6:30 pm – 8:30 pm
Where: Waters Lakehouse Restaurant 4615 Barranca Parkway, Irvine, CA
Time: Check in time is 6:15

Seating is limited, reservations are required! Everyone attending learns seldom heard money-saving strategies.

Reservation Line:(949)380-8600 ext 221 ask for Bettie.

Derek Beisner's Birthday Bash Golf Event

2008-04-13T01:50:00.000-07:00

Hello Cyber Friends! I just wanted to stop by to invite you to my Birthday Bash. I would love to see you there. Here are the Details.

DEREK BEISNER’S BIRTHDAY BASH GOLF EVENT!!!!
Orange County Le Tip’s next Golf Outing!

When: Thursday APRIL 24th 2008, right after the meeting
10:00 am Tee time, Invite anyone you know to join us at the meeting in your golf gear, will leave right after the meeting.
Where: Tijeras Creek Golf Club R.S.M. 949-589-9793
Who: open to anyone and everyone! cut off date is APRIL 17th MIXER NIGHT!!!
How much: $60.00 COD ONLY CASH ONLY each person arrive by 9:15 AM
Invite some one you do business with to our meeting, then golf with them, create your own Power Partner Group with in our Le tip group.

If you would like to join us, shoot me an email at Derek@DerekBeisner.com. And as always, if you have any questions about you California home loan, give me a call at (949) 637-9939.

Save Thousands by Refinancing Your California Home Loan

2008-04-01T06:44:00.000-07:00

With the Feds continuing to lower rates, now is a great time for homeowners to think about refinancing their California home loans. Refinancing can save you hundreds of dollars each month and tens of thousands of dollars over the life of your loan. How is that possible?

Well basically, the bank doesn’t lend you money for free and charges you a pretty big fee each month. That fee is calculated based on one of two things. If you have a fixed rate mortgage, the back charges you the same amount each month based on the rate you got when you bought the home. If you have an adjustable rate mortgage, the bank will charge you a fixed amount for a certain time period and then adjust your fee to a new (sometimes higher) amount after a couple of years.

So how can refinancing help save you money off the fee you pay to the bank each month? Easy, the fee you pay is based on the interest rate you locked in when you bought your home. And if it’s been a couple of years since you purchased a home, you may be surprised to learn that a lot has changed. Here are a few reasons why refinancing your California home loan now is a good idea.

1) Interest Rates have dropped. Most of you have probably heard that the Federal Reserve has cut the interest rate multiple times over the past couple of months. This means that you can save a ton of money. While interest rates over the past several years have been pretty low, any rate cut can mean a huge difference in your monthly payment. And if you’ve been in your home for sometime, chances are these recent rate cuts will mean a huge difference in your mortgage payment if you choose to refinance.

2) If you have an adjustable rate mortgage, now is a great time to refinance that into a fixed rate mortgage. You have undoubtedly heard that people are loosing their homes left and right these days. A lot of that has to do with people buying a home they couldn’t afford – some not so great lenders sold them on a California home loan that had a really, really low introductory rate and then after a couple of years got much higher. And when that happened, they couldn’t make the payments and ended up in foreclosure. You don’t want to fall into this trap. Since interest rates are low, you could easily refinance to a fixed rate mortgage and not have the fear of the adjustable rate loan going up.

3) Since most people’s credit score gets better the longer they own their home (of course that’s assuming you pay your mortgage on time), refinancing can hold even more great surprises. If you bought your home 5 years ago and have had a solid payment history, chances are banks will not charge you as much now as they did when you first closed on your home. That means that your monthly fee will be lowered. And that, coupled with new low interest rates, can mean hundreds of dollars in your pockets each month.

So if any of these scenarios fit you, you definitely want to talk to an honest, experienced California home loan specialists about your options. If you have questions about refinancing or want help finding a California lender you can trust, you can always email me at Derek@DerekBeisner.com.

California Home Loan Credit Scoring Booklet

2008-03-17T12:50:00.000-07:00

As a California home loan specialist, one of the things I often tell my clients is that knowledge really is power. The more you know and understand your credit, the better your chances of qualifying for the home equity loan or California home loan you want.

Most people who take the time to understand how their daily purchases, credit checks and account standings impact their credit rating are likely to make the right moves when it comes to building strong credit. If you don’t know how your credit rating is even determined, how could you be expected to have a very good score?

If you are thinking about buying a home now or in the future, the best thing you can do is check out the Credit Scoring Booklet I give to everyone that walks through my door. It’s free and can really help you get a better understanding of what you need to start doing or keep doing in order to qualify for a California home loan.

If you want a copy of the Credit Scoring Booklet, visit me online or shoot me an email at Derek@DerekBeisner.com.

New Conforming Loan Limits Great News for California Home Loans

2008-03-03T11:05:00.000-08:00

The new Economic Stimulus Act of 2008 is more then just a rebate in your pocket – though who couldn't use and extra $600 or $1200 in their hand? If you’re a homeowner or a new buyer shopping for a California home loan or home equity line of credit, then there is even more good news for you then just your rebate. The new stimulus package is also designed to help certain “high-cost regions” that are currently plagued by a struggling housing market.

The new bill calls for a temporary increase in the conforming loan limit from $417,000 to as high as $729,750 in specified areas. So what does this mean for you? Well Orange County is one of these high-cost regions and the increase in the conforming loan limit could help you avoid higher interest rates associated with non-conforming or jumbo loans. This means that you can buy a new home or even refinance you current mortgage at a lower rate then you could have before the change in limits – which will save you tons of money of the course of your loan.

Remember though, it is harder to get a California home loan at the moment, so your credit score is more important then ever. If you want to find out if this new temporary limit increase can help you, shoot me an email at Derek@DerekBeisner.com.

California Home Loan Credit Issues

2008-02-12T08:22:00.000-08:00

When it comes to securing a California home loan, your credit is the make or break factor in the process. If you have great credit, then you get to enjoy the lowest interest rates possible. If your credit is not so great, then you unfortunately get to jump through a few hoops and will have to pay more interest when you buy a home.

But just because your credit is less then perfect doesn’t mean there aren’t ways to fix many of the problems before you apply for a California home loan or home equity line of credit. By fixing problems before your application goes through, you can save thousands of dollars in interest and have an easier time being approved for the home loan amount you need.

The best way to get the ball rolling on repairing your credit is to speak with an experienced California mortgage specialist. A great mortgage specialist will help you understand what your credit report says and how each item can and will impact your loan approval. They can also work with you to help repair any issues before your California home loan application is submitted.

You can check out my California Home Loan Credit Issues page for more details. And, as always, if you have any questions, feel free to shoot me an email at Derek@DerekBeisner.com.

Save Yourself from Foreclosure by Refinancing Your California Home Loan

2008-02-05T09:12:00.000-08:00

It’s been a busy couple of weeks for the California mortgage industry. No only did the Federal Reserve lower interest rates by the biggest cut in nearly 30 years a couple of weeks ago, but just last week, the Federal Reserve cut interest rates again. This is a huge win for the California home loan specialists and for all homeowners and potential buyers out there. These interest rate cuts (which now total a whooping 1.25 points) can really help make a difference in the foreclosure rate we are seeing right now.

If you own a home, you most likely have a California home loan, home equity line of credit or home equity loan. Some of you are already experiencing difficulty paying those loans and this new rate cut can help save you from having to lose your home. Chances are these new lower rates can benefit you no matter when or where you purchased your home. By refinancing now when rates are ridiculously low, you can save hundreds each month- which can help you catch up on missed payments as well as live more comfortably in the future.

If you are a homeowner, I encourage you to find a California mortgage specialist you can trust to find out how and if refinancing your California home loan, home equity loan or home equity line of credit can benefit you. As always, email me anytime at Derek@DerekBeisner.com for help finding an experienced and honest lender.

Interest Rate Cuts Help Spur Slowing California Real Estate Market and Increase California Home Loan Requests

2008-01-29T23:14:00.000-08:00

Aliso Viejo, California – January 29, 2008 – In a response to the Federal Reserve’s decision to cut interest rates by .75 points, the largest cut in nearly 30 years, Premiere Lending Group, one of Orange County’s most well-respected California home loan specialists, announced today that it is offering new and existing clients free mortgage and refinancing education in order to help them understand how the new rate cut will affect California home loans.

“It is vital that existing homeowners in California as well as buyers thinking about entering the market understand how this rate cut can benefit them,” says Derek Beisner, mortgage specialist, Premiere Lending Group. “We are working very hard in order to make sure the public understands their home loan and mortgage refinancing options so that they can take advantage of these better rates and hopefully help the Southern California real estate market balance out.”

Premier Lending Group’s campaign to educate California home owners and potential buyers began last week after the Federal Reserve’s announcement and will continue throughout the month of February. The company is expecting the help thousands of current homeowners with existing California home loans or home equity loans as well as potential buyers hoping to enter the market during this unprecedented cut in interest rates.

“We are very excited to see the Federal Reserve come to the aid of so many homeowners,” says Beisner. “This cut in interest rates could mean tremendous savings for current homeowners, and Premier Lending Group is committed to helping California homeowners as well as new buyers in this market understand how this rate cut can help them save money.”
For more information on Premiere Lending Group’s rate cute education campaign, please contact the company today at (949) 637-9939.

About Derek Beisner
Premier Lending Group welcomed mortgage specialist Derek Beisner to its team in the 1990’s with the philosophy of “Customers for Life.” With a commitment to providing a level of service that is second to none, the company prides itself on establishing a relationship with clients that will last forever. Offering individualized service, Premier Lending utilizes all resources available to find the best financing available in today’s market.

Premier Lending uses the most advanced technology available to close loans quickly, at a low cost. The company is well-respected for its use of the Internet along with advanced processing software and automated underwriting systems that have taken the mystery out of approving and closing a home loan.

What does the Lowered Interest Rate Mean for Your California Home Loan?

2008-01-22T07:05:00.000-08:00

If you’ve been watching of listening to the news lately, you know that there has been talk of the Fed lowering interest rates. Well this morning it became official. The Fed cut interest rates by ¾ of a point and most experts are hoping this will spur more people to buy homes and other large ticket items.

So what exactly does this mean for you? Well if you’ve been considering buying a home, the lowered interest rate is a great thing. Now, when you apply for a California home loan, you’ll get a better rate. And a better interest rate means lower monthly payments – which is always a great thing.

If you already own a home and have a California home loan or home equity line of credit, you may want to consider refinancing now while the interest rates are low. Refinancing you current home mortgage loan or California home equity loan can save you hundreds of dollars each month and is really a great option for any homeowner that bought their property when interest rates were higher then they are today.

Check out my California home loan website to get more information on the various types of home mortgages and home equity lines available. And shoot me an email at Derek@DerekBeisner.com if you have any questions about whether or not you should refinance your current California home loan or if now is the best time to buy.

Free Seminars Teach Homowners About California Home Loan

2008-01-08T07:38:00.000-08:00

Understanding how to use your California home loan to your advantage is a great tool for any homeowner to learn. Most people don’t realize how much power a California mortgage loan gives them. A great way to learn about how to build wealth by utilizing the equity in your home, is to check out free seminars in your area. I am often invited to speak at many of these free seminars throughout the year and am always encouraged to see so many great people turn out for these events.

The next event I will be participating in will be held in Irvine, CA and will focus on building wealth through your home’s equity. We’ll talk about a ton of great topics including how to better understand California home loans and take advantage of the equity in your home. This is a free seminar and I invite everyone to attend.

If you’re interested in learning more about how you can build wealth through your home’s equity, simply RSVP for the event and join us on January 29 to find out more about taking charge of your California home loan.

Seating is limited, so call Bettie Blauser at (949) 380-8600 ext 221 today to RSVP today!

Tuesday, January 29th @ 6:30 pm – 8:30 pm

Waters Lakehouse Restaurant

4615 Barranca Parkway, Irvine, CA

Check in time is 6:15

Getting the Best California Home Loan

2007-12-06T07:11:00.000-08:00

A large part of finding the right California home loan for you, is finding the best rate you can get. Your interest rates will be based on your credit history and the better your credit, the lower interest you can expect to pay. But knowing your interest rate is only part of the equation.

Many lenders will tell you that they can beat any rate you get. While technically this may be true, you may very well end up paying far more in the long wrong due to lender fees and hidden costs. So sometimes, a lower interest rate may not be exactly what you need. The best way to find out exactly what you’re getting and be able to compare one interest rate to another is through a Good Faith Estimate.

No matter if your applying for a new California home loan, a home equity line of credit or a California home loan rate refinance, any lender worth his or her salt should be able to provide you with a detailed Good Faith Estimate – and all of this should be done before you apply for the loan or have the lender run your credit.

A Good Faith Estimate will show you the breakdown of the loan details and will include a list of all the fees associated with that loan. You’ll also want to make sure that you have the lender guarantee in writing that the fees shown on the estimate won’t change for the California home loan you want to apply for.

Another aspect of the loan you’ll want to check out is the length of time the rate you are being quoted is locked in for. If your lender is telling you that the rate on your California home loan cannot be locked in until 10 days prior to closing, what good does that do you. Chances are the rate will change and your loan payments will be completely different. Your interest rate should be locked in from the day you apply for a loan till the day you close.

If your lender is not willing to do any or all of this, find a new lender. A great California home loan specialist will be more then happy to provide Good Faith Estimates on many kinds of loans and should always have your best interest mind.

If you want to know more about California home loans and home equity lines of credit, visit me online or shoot me an email at Derek@DerekBeisner.com.

Lowest Mortgage Rates in 25 Months

2007-11-29T14:36:00.000-08:00

We couldn't have asked for a better Thanksgiving treat than the one we got on Monday: the lowest 30-year fixed-rate in over two years. That's right. For those of you who have been patiently waiting, here's your chance to save anywhere from $5,000 to $7,500 or even more on the mortgage financing you've been looking for. Do not miss this great opportunity to cash in on the lowest rates since October 2005.

Here's why you should act now:

Monday saw the lowest 30-year fixed interest rate in over two years. However, each time this interest rate reached previous low points, both last year and earlier this year, it began increasing and didn't stop, climbing over 0.50% in the months that followed!
Fannie Mae and Freddie Mac tightened guidelines, announcing new Loan-Level Price Adjustments. In the first quarter of 2008, most borrowers who have good credit, but have FICO scores below 680, will now be forced either to pay more points at closing or incur a higher interest rate.

The amount that a borrower could be forced to pay, even if they've never been late on a payment, could be as much as 2.00% in points or an interest rate that's 1.00% higher than the going rate. On a $250,000 home loan, a borrower could have to pay up to $5,000 in order to receive normal market rates! Borrowers choosing the higher interest rate, under the worse case scenario, would stand to lose over $7,500 in just the first three years of the loan.

Choosing to wait could cost you money both in the form of higher market rates and points. This could well be the greatest holiday present you could treat yourself to this year, but only if you act fast! Call me today for a FREE California home loan evaluation to determine what we can do to help you improve your financial situation before these great rates disappear.

Mortgage Calculator for Your California Home Loan

2007-11-08T09:14:00.000-08:00

Buying a home is a big step and one that shouldn’t be taken lightly. On top of finding the perfect home, your job as a buyer is the find the best, most affordable California mortgage you can. That means that you need to educate yourself as much as possible on your personal credit history, current interest rates and loan types currently available to you.

A great lender will be able to walk you through each of these things, but in the end its your decision which loan you choose. One of the biggest mistakes I see from people shopping for a California home loan make is borrowing far more money then they can truly afford. Just because a lender will give it to you, doesn’t mean you can afford it.

A great way to get an idea of what you can afford is to check out the mortgage calculator tool on my California home loan website. This tool can help you understand what monthly payments will be for different loan amounts. But remember – you will not only be paying a mortgage when you become a homeowner, you’ll also be paying property taxes, utility costs, home maintenance fees and more. Keep this in mind when you’re deciding how much home you can truly afford. If your stretching it just to pay the mortgage, chances are you will be in dire straights once you get your property bill and have to pay maintenance costs associated with homeownership.

If you have any questions about how to determine how much home you can afford or need advice about which California home loan is right for you, shoot me an email anytime at Derek@DerekBeisner.com.

Tips for Avoiding Foreclosure from a California Home Loan Expert

2007-11-01T11:31:00.000-07:00

As almost everyone knows, now is a tough time for the housing market in California. There are tons of foreclosures and as a California mortgage specialist, it makes me so upset to see so many great people lose their homes because their lenders sold them on loans that were not in their best interest. If you are one of those people that are facing the loss of your home because of increasing mortgage payments, you need to act NOW so that you avoid foreclosure.

Even if you’re not sure what type of loan you have, do yourself a favor and have an experienced, honest California home loan specialist determine what you need to do in order to avoid foreclosure. Maybe you have a fixed rate mortgage and are doing fine – but if you’re the owner of an adjustable rate mortgage, a reverse mortgage or a negative amortization mortgage, get help today.

You can find out more about the various California Home loan products available today by checking out the Home Loan Programs section of my website. If you have any questions or need help keeping your home, call me today at 949-637-9939.

Skyrocketing California Mortgages - What can you do to avoid losing your home?

2007-10-23T07:33:00.000-07:00

If you’re confused about mortgages, you’re not alone. There are a ton of different products out there and if your lender didn’t explain things to you thoroughly when you began shopping for a California home loan, chances are you have no idea what the real terms & conditions of your mortgage are.

I just read a startling statistic about risky loans today. According to a recent poll, 1 out of 3 homeowners have no idea what kind of loan they have. Under better market conditions, that might be okay. But in the current market where it is predicted that over 2 million homeowners will lose their home due to sudden, unexpected and devastating increases in their mortgage payments, it’s imperative that you, and every person with a California home loan, know exactly what kind of loan you have – and even more importantly, when and if your loan will recast and go up.

While I contacted my clients months ago to discuss this issue, there are thousands of people with California home loans that have no idea that they are about to be bowled over with additional fees. If you are not sure what type of loan you have or know that you will soon have a skyrocketing payment, call me or your lender today to avoid losing your home.

I can help you understand the important details of your loan and provide the advice you need to determine whether a decision should be made and, if so, help you make the wisest decision possible. If you are concerned about your California Home loan call me today at 949-637-9939 and I’ll help you better understand your options.

What a Fed Cut Means for You

2007-10-02T09:06:00.000-07:00

I make my living as a California Home Loan Specialist and that means that I am always on top of the latest interest rates and financial news. It’s important that I understand how various rate cuts or rises affect my clients bottom line. If you’re searching for a new California home loan or are interested in a California home equity loan, chances are you know that the Federal Reserve cut its Fed Funds Rate. But what does this mean for you?

For the first time in more than four years, the Federal Reserve cut its Fed Funds Rate, which directly impacts millions of American borrowers. And while this important decision has many implications, there is still some debate among experts about what this means to the economy as a whole. But for you, a lower Fed Rate most likely means that there will be new opportunities on the rise.

If you have an Adjustable Rate Mortgage, while this rate cut might help to improve your situation, now is the time to refinance into a fixed-rate loan.

If you have a Home Equity Line of Credit (HELOC) or credit cards tied to the Prime Rate, the Fed's cut in the Fed Funds Rate just put a little money in your pocket.

The Federal Reserve meets again in six weeks, and no one is certain how market volatility and inflation concerns will affect their future policy and decision-making. That means that if your want to get a California Home loan or a California home equity loan, you’ll definitely want to take advantage of this opportunity while you still can. If you're looking to capture a lower interest rate for refinancing or buying a home, this could be your best opportunity to do so.

Yes, we may experience some temporary improvements in rates in the coming weeks, but the markets will remain volatile as long as inflation and recession are a possible threat to the Federal Reserve's long-term economic policies. If you're looking to refinance or buy a new home, shoot me an email today at Derek@DerekBeisner.com. I will show you why waiting can cost you a lot of money.

The Credit Crunch

2007-09-18T07:49:00.000-07:00

As a California home loan specialist, it’s my job to make sure the public understands the impact of rate cuts on their loan. Now that the Fed has cut the Discount Rate by .50% and with all the uncertainty of the credit market these days, many borrowers have called my California home mortgage office expressing concerns regarding their short-term fixed-rate loans that may be rolling into adjustable-rate products within the next couple of years. This change is something that will most likely affect anyone with a California adjustable-rate mortgage and should be taken seriously.

If you currently have a 5-, 7-, or 10-year fixed-rate loan on your property and are within a 2-year window of it rolling to an adjustable loan, it is important that you talk to a knowledgeable California home loan specialists now. If you don’t have a mortgage specialist you are currently working with or are not happy with the time and attention you’re getting, shoot me an email at Derek@DerekBeisner.com and I’ll work with you to help you understand your options.

As a mortgage manager, I feel a huge responsibility to advise homeowners regarding options for their California home mortgage. It might make sense to get into something with a longer term, so that you are protected if the market continues to tighten or if property values become affected due to the current trends.

Shoot me an email today if you want to discuss your unique situation and options. I really want to ensure that I am doing everything possible to help California’s borrowers make the right lending choices for their future. This is a crucial financial time in history, and no one is certain how severe the current credit crunch may be or how long it will last. Because of this, it is critical that you be proactive TODAY to protect your financial future!

Refinancing Your California Home Loan

2007-08-13T08:34:00.000-07:00

While there are many reasons people refinance their mortgage, there are five rules that most California Home Loan specialists will tell you to consider in order to decide if now is the best time for you to refinance. Many people will tell you that there is an old adage in the mortgage business that states that if you can improve your interest rate by at least two percentage points, then it is a good time to refinance. While that may work as a general rule of thumb, the truth is that there are many reasons to refinance your California home loan. Here are a few:

1) Lower your interest rate.
Securing a lower interest rate for a California home loan is one of the top reasons for refinancing. This can make a big difference in your monthly out-of-pocket costs for housing and save money on financing fees.

2) Build equity faster.
If you are in a position to make higher monthly payments due to an increase in salary or other good fortune, you may want to switch from a 30-year loan program into a 15- or 20-year loan structure for your California home loan. This enables you to build equity faster and save a tremendous amount of money on financing fees.

3) Change your loan program.
Some homeowners who start out in an Adjustable Rate Mortgage (ARM) find that they would like to switch to the stability of a Fixed Rate mortgage at some point. An ARM may have been the most attractive rate and loan package when you first financed your home, but we can provide you with loan comparison charts to find out if you can save money with another type of loan program that might work better for you right now.

4) Credit score has improved.
If your credit score has improved as a result of making your mortgage payments on time and in full, you may be in a position to take advantage of your improved credit standing. We can review your current credit score, the terms of your existing mortgage, and review options for other California home loan programs that could not only reduce your monthly payment, but also save you money on interest fees paid over the life of the loan.

5) Use the equity you have established.
A cash-out refinance allows you to tap into the equity you have built up in your home. You may want to pay off revolving credit card accounts, send a child to college, or use the money for home improvements or personal expenses.

If you fit into one of these categories, you may want to consider refincining now. If you’re not sure what California home loan program is right for you or if now is the best time to refinance, shoot me an email at Derek@DerekBeisner.com and I’ll work with you to help you decide what the best course of action is for your unique situation.

How the Affluent Manage Home Equity to Safely and Conservatively Build Wealth

2007-08-03T12:34:00.000-07:00

If you’ve ever wanted to know how to get the most out of home ownership and your California home loan, I would definitely recommend talking to the experts. Many communities offer free seminars for home buyers, seller and investors and feature California home loan experts, realtors and investors that are able to help you understand the market.

If you’re in the Orange County area, you can check out a free seminar on August 28 that will cover information on California mortgages, investing and financial security. The seminar, titled “How the Affluent Manage Home Equity to Safely and Conservatively Build Wealth” will feature yours truly as the California mortgage expert and William Jordan, who is president of Sentinel Capital Management, Inc. and has been educating and assisting Orange County’s investors in planning their financial futures for over a decade.

We invite you to attend!
Tuesday, August 28th @ 6:30 pm – 8:30 pm
Waters Lakehouse Restaurant
4615 Barranca Parkway, Irvine, CA
Check in time is 6:15
Seating is limited and reservations are required. Everyone attending learns seldom heard money-saving strategies. Reservation Line: (949) 380-8600 xt 221

California Home Loans

2007-07-16T10:35:00.001-07:00

When most people find out I am a mortgage lender specializing in California home loans, one of their first questions usually revolves around how much home loan they would be eligible for. It so hard to answer a question like this on the fly – while I might be able to give you a rough estimate, its impossible to know for sure what type of California Home loan or home equity loan will be best for an individual without first taking a good, hard look at their income and debts.

If you’re finding yourself thinking about buying a home or refinancing your current house, do yourself a favor and call a lender. Most lenders are more than happy to help you understand your options so that you can make a decision that’s right for you. But don’t be fooled! Even if a bank will lend you more money than you anticipated, don’t buy a house out of a comfortable price point. If you need help finding a lender or have questions about a California home loan or California home equity loan, feel free to send me an email at Derek@DerekBeisner.com.

Home Buyers' Handbook

2007-07-09T10:40:00.000-07:00

When you’re buying a home and applying for a California home loan, it’s important to understand the market and your responsibilities as a home owner. As a California mortgage specialist, I deal with interested home buyers on a daily basis and the first thing I often give them is a copy of the Home Buyers’ Handbook. This handbook not only helps home buyers understand what an interest rate means to their monthly California mortgage payment, but it also helps them understand how points, penalties and amortization affect the bottom line.

If you are already working with a California home loan specialist, insist that they give you this same information so that you can fully understand what you are committing to. If you have questions about your California home loan, be sure to ask your lender. If you don’t get a straight answer or are still confused, ask a friend for a referral to a new mortgage specialist or download a copy of my Home Buyers’ Handbook by visiting the Free Reports page on my California Home Loan Web site. If you have questions, shoot me an email at Derek@DerekBeisner.com.