Now HARP II is being rolled out and we have the experience to help you!

Sales of previously owned homes came in 18.6 percent higher last month when compared to August 2010, according to data just released by the National Association of Realtors. Completed transactions rose 7.7 percent on a month-over-month basis to a seasonally adjusted annual rate of 5.03 million. The latest numbers far surpassed market expectations. Many analysts were forecasting a decline while others were predicting a much more modest increase, with projections for the annual rate ranging between 4.61 million and 4.80 million.

Take advantage of low interest rates and low home sale prices. Call us today at 831.645.1160 and let us help you!

Now is the time to buy~ we have home prices at a low and interest rates as well!

1
Get copies of your credit report–then make sure information is correct.

Go to www.annualcreditreport.com Leaving the Board. This is the only authorized online source for a free credit report. Under federal law, you can get a free report from each of the three national credit reporting companies every twelve months.

You can also call 877-322-8228 or complete the Annual Credit Report Request Form and mail it to Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

2
Pay your bills on time.

One of the most important things you can do to improve your credit score is pay your bills by the due date. You can set up automatic payments from your bank account to help you pay on time, but be sure you have enough money in your account to avoid overdraft fees.

3
Understand how your credit score is determined.

Your credit score is usually based on the answers to these questions:

Do you pay your bills on time? The answer to this question is very important. If you have paid bills late, have had an account referred to a collection agency, or have ever declared bankruptcy, this history will show up in your credit report.
What is your outstanding debt? Many scoring models compare the amount of debt you have and your credit limits. If the amount you owe is close to your credit limit, it is likely to have a negative effect on your score.
How long is your credit history? A short credit history may have a negative effect on your score, but a short history can be offset by other factors, such as timely payments and low balances.
Have you applied for new credit recently? If you have applied for too many new accounts recently, that may negatively affect your score. However, if you request a copy of your own credit report, or if creditors are monitoring your account or looking at credit reports to make prescreened credit offers, these inquiries about your credit history are not counted as applications for credit.
How many and what types of credit accounts do you have? Many credit-scoring models consider the number and type of credit accounts you have. A mix of installment loans and credit cards may improve your score. However, too many finance company accounts or credit cards might hurt your score.

To learn more about credit scoring, see the Federal Trade Commission’s website, Facts for Consumers.

4
Learn the legal steps to take to improve your credit report.

The Federal Trade Commission’s “Building a Better Credit Report” has information on correcting errors in your report, tips on dealing with debt and avoiding scams–and more.

5
Beware of credit-repair scams.

Sometimes doing it yourself is the best way to repair your credit. The Federal Trade Commission’s “Credit Repair: How to Help Yourself” explains how you can improve your creditworthiness and lists legitimate resources for low-cost or no-cost help.

Natural disasters can strike anywhere at any time. These resources from the NAIC may be helpful.

• Make sure you have bottled water, a first aid kit, flashlights, a battery-powered radio, non-perishable food items, blankets, clothing, prescription drugs, eyeglasses, personal hygiene supplies, and a small amount of cash or traveler’s checks.
• For personal safety, identify what storm shelter is available to your family and prepare an evacuation plan. Choose two meeting places: one right outside your home in case of a sudden emergency, such as a fire; and one outside your neighborhood in case you can’t return home.
• If you need to evacuate your home, turn off all utilities and disconnect appliances to reduce the chance of additional damage and electrical shock when utilities are restored.
• Mitigation – There are steps you can take to help mitigate – or lessen – some of the damage to your home caused by natural disasters. Generally a mitigation plan will begin with a survey of your home and the area around your home to identify objects like yard debris that could compound damage your home in high winds or under threat of wildfire. Your state insurance department or state department of emergency management can help you get started on a mitigation plan. Some states may even have programs to help pay for mitigation upgrades for homes in high threat areas.

• Keep a readily available list of 24-hour contact information for your insurance agent and insurance company. Make a list that includes your policy numbers, your insurance company and insurance agent’s phone numbers, website addresses and mailing addresses. Also, check to see if the company or your agent has set up an emergency information hotline, in case of storm damage. It is a good idea to store this information, and a home inventory, in a waterproof/fireproof safe or a safe deposit box. Also consider sending an electronic copy to someone you trust. If you have to evacuate your home, you want this information to be easily available to you.

A home inventory can be invaluable when deciding how much insurance your life situation requires to adequately insure your home in the path of a natural disaster. Get more homeowners insurance tips.

Information taken from National Association of Insurance Commissioners.

The amount set by the Feds for Monterey County is $483,001 for Jumbo Loan amount.

Interest rates are at historic lows!!! Call us now Toula now at 831.645.1160!

Freddie Mac completed 10,809 loan modifications in June and a little over 66,000 during the first half of the year, according to the company’s latest monthly volume summary.

The monthly average is up from 8,891 loan modifications in May.

The government-sponsored enterprise said the seriously delinquent rate of single-family mortgages fell to 3.50% last month, while the multifamily delinquency rate fell to 0.31% in June. That compares to a single-family and multifamily delinquency rate of 3.53% and 0.38% in May.

Meanwhile, the aggregate unpaid principal balance on all of Freddie’s mortgage-related investments portfolio fell by $4.6 billion in June as policy makers continue to discuss and draw the blueprint for a future housing market that is driven more by private capital. Freddie’s total mortgage portfolio fell at an annualized rate of 1.7% in June.

Last month, Freddie’s single-family refinance-loan purchase and guarantee volume hit $14 billion, representing 53% of total mortgage purchases and issuances.

California Senate Bill 183 was signed into law to regulate the installation of Carbon Monoxide detectors. The law is a two-part law that requires an update to the Transfer Disclosure Statements used in a real estate transaction, and puts into law the Carbon Monoxide Poisoning Prevention Act of 2010.

The first part of the new law requires that as of July 1, 2011, Transfer Disclosure Statements (TD forms) include a line item regarding the presence or absence of a Carbon Monoxide detector in the same manner as Smoke Detectors, for all residential units that are sold. This applies to nearly all types of occupancies from single family owner-occupied and rentals, to multi-family housing. If the property is being sold, it must now include a CO Detector if the dwelling has gas appliances, fireplaces, and/or attached garages as described below.  

The second part of the law enacts the Carbon Monoxide Poisoning Prevention Act of 2010 which requires that all residential properties, not just those being sold, be equipped with a Carbon Monoxide detector when the property has a fossil fuel burning heater or appliance, fireplace, and/or an attached garage.  All single-family homes in structures with 1-4 units (owner or tenant occupied) must be equipped with a detector on or before July 1, 2011. 

ftp://leginfo.public.ca.gov/pub/09-10/bill/sen/sb_0151-0200/sb_183_bill_20100507_chaptered.pdf