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    Thursday, November 17, 2011

    Moses, meet Steve

    Image001


     
    10 years ago the USA had Steve Jobs, Bob Hope and Johnny Cash
    Now they have no Jobs, no Hope, and no Cash.

    Posted via email from Sean La Rue's Posterous

    Saturday, November 12, 2011

    YPN HOLIDAY MIXER FLYER

    YPN HOLIDAY MIXER FLYER.pdf Download this file

    Good morning,

    Attached is the flyer for the upcoming YPN Holiday Mixer on Monday, December 12th from 5pm to 7:30pm at Sullivan’s.

    Thank you for helping us get the word out for this Festive Holiday Event!!

    Posted via email from Sean La Rue's Posterous

    Happy Saturday!!!

    Wish u were here!!

    Photo

    Sean La Rue
    Franklin Loan Center
    Senior Vice President
    www.SeanLaRue.com
    760-835-5663

    Posted via email from Sean La Rue's Posterous

    Tuesday, November 8, 2011

    9 Essential Tips for New Home Buyers--A Guest Post

    9 Essential Tips for New Home Buyers--A Guest Post

    From: http://money-saving-tech-tips.blogspot.com/2011/11/9-essential-tips-for-new-home-buyers.html

    Summary: What are some essential tips for new home buyers? Read on to find out!

    (I accept guest posts.  This is a guest post and I am not recommending the companies that are represented by the links.  I have not researched them in more than a cursorily manner to just determine they are not offensive to my personal taste.  Posting the article is not to be seen as a endorsement of any kind except I thought it was worth reading.)

    Buying your first home or first investment property is a huge responsibility. Your personal financial future is often heavily invested in the value of your home. While a real estate agent can guide you through the process of buying a home, having a bit of knowledge beforehand can really help you avoid many of the costly pitfalls new home owners make.

    Here are nine essential tips for new home buyers:

    1. Know Your Limits

    Before you do anything, you have to know how much you can afford to pay. While you can easily get this information from banks and lenders, you should always have your own idea on what you can afford. These institutions don’t always have your best interests in mind. They want to maximise their profits and don’t always consider how much of a burden a large mortgage is on a new home owner. Also, be conservative when you estimate your financial strength.

    1. Determine What You Want

    Once you know what you can afford, consider what kind of property you want to put your money towards. Do you want an inner city unit? Do you need to be close to public transport? Would you prefer a large country house? Figure out what you’re looking for first so you don’t end up wasting your time especially if you are considering it as a property investment now or in the future.

    1. Buy Smart

    Always use common sense when buying a home. While you might fall in love with a certain property, it might be impractical to purchase it. Always use logic when determining what home you need to buy so you don’t inadvertently sabotage yourself.

    1. Don’t Overlook

    Once you’ve found the home you want, stop looking. Prolonging your search can hold you back. As a first time home buyer your resources are generally limited. Don’t dawdle.

    1. Save for Twenty Percent

    Although there is the standard minimum requirement for borrowing money for a property, you should always aim for at least double that figure. Twenty percent is a good, safe figure to aim for. Not only will you save thousands of dollars in interest in the long term, but in many cases you will be able to receive a better mortgage.

    1. Remember Closing Costs

    Many first time home buyers often overlook potential closing costs. There is a litany of costs involved. Taxes, real estate agents’ fees and appraisals can quickly add up.

    1. Get Pre Approved

    Make sure you are pre-approved for your mortgage before you start signing off on any deal. The last thing you need to do before your closing is to scramble for financing. Make sure this bridge is well and truly crossed.

    1. Calculate Moving Expenses

    Depending on where you plan to move, moving expenses can be quite significant. A move down the road isn’t too bad but if you are moving to a different city, expect to spend some serious money.

    1. Furnishings

    First time home buyers often go over budget, leaving them with very little in disposable income. They soon find out that, although they have a beautiful new home, they cannot afford to buy furnishings. Remember, you need to fill your home.

    Buying your first home can be intimidating, but with these nine tips the process should be a whole lot easier to understand.

    Make it a great day,

    Sean K. La Rue

    Senior Vice President – Franklin Loan Center
    “Your KEY to Moving Home!”Yo hablo Español

    Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor 

    44800 Village Court – Palm Desert, CA 92260

    Mobile: 760.835.5663  Office: 760.837.1488  FAX: 800.784.9089

    Sean’s Weekly Newsletter 

    DRE# 01786480 NMLS# 291852

    Jan Christensen

    Executive Assistant | 760.837.1486 | jchristensen@franklinlc.com

    Posted via email from Sean La Rue's Posterous

    FHFA Announces Expansion of HARP (or HARP Phase II)

    FHFA Announces Expansion of HARP (or HARP Phase II)

     Tuesday, November 8, 2011

    Provided by: Weiner Brodsky Sidman Kider PC

     

    Image001

     

     

    On October 24, 2011, the Federal Housing Finance Agency (the "FHFA") and Fannie Mae and Freddie Mac (the "GSEs") announced an expansion of the Home Affordable Modification Program (the "HARP"), or so called "HARP Phase II", in an effort designed to assist additional "underwater" borrowers.

     

    While the program is limited to loans originated and sold to Fannie Mae or Freddie Mac prior to May 31, 2009, one intriguing feature of the program is the limitation of required representations and warranties from lenders making such loans to the GSEs. This feature could lead to a reduction in repurchase demands for a certain segment of GSE loans refinanced under HARP Phase II.

     Prior HARP refinances were subject to a maximum LTV of 125%. That limit has been removed for fixed rate mortgages; adjustable rate refinances are still subject to a maximum LTV of 105%. In addition to the lessening of representations and warranties, the removal of the upper limit on LTV ratios, and the current low interest rate environment could provide this program momentum producing results beyond those of past HARP or other Making Home Affordable programs.

     The GSEs plan to issue guidance with additional details about the program changes mid-November. Participation in HARP is not mandatory; therefore, mortgage entities wishing to participate will have time to review program amendments and implement necessary operational changes.

     

    Eligibility criteria for HARP Phase II loans are as follows:

     The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae;

    ·         The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009;

    ·         The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009;

    ·         The current loan-to-value (LTV) ratio must be greater than 80%; and

    ·         The borrower must be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.

     Other program features include:

     Certain agency fees will be waived if a borrower elects a shorter term with the new loan (for example, choosing a 20 year loan term when the prior loan had a 30 year term);

    ·         If there is a reliable AVM estimate of value provided by Fannie Mae or Freddie Mac, a new appraisal will not be needed; if there is not a reliable AVM value, a new appraisal will be required; and

    ·         Certain lender representations and warranties will be waived.

     A copy of the FHFA release may be found at the following link: http://fhfa.gov/webfiles/22722/HARP%20release%20102411%20Final.pdf

     Also, FAQs about HARP Phase II may be found at the following link: http://fhfa.gov/webfiles/22723/HARP%20release%20102411QandA%20Final.pdf

     The FHFA and the Department of the Treasury instituted HARP in early 2009 as part of the Obama Administration's Making Home Affordable program. HARP provides borrowers that have a depressed home value the opportunity to refinance their mortgage into a lower interest rate loan.

     While HARP is only one of several refinancing options available to homeowners, HARP is unique because it is one of the few refinance programs that allows borrowers who owe more on their mortgage than their home is worth to take advantage of a lower rate refinancing option.

    Make it a great day,

    Sean K. La Rue

    Senior Vice President – Franklin Loan Center
    “Your KEY to Moving Home!”Yo hablo Español

    Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor 

    44800 Village Court – Palm Desert, CA 92260

    Mobile: 760.835.5663  Office: 760.837.1488  FAX: 800.784.9089

    Sean’s Weekly Newsletter 

    DRE# 01786480 NMLS# 291852

    Jan Christensen

    Executive Assistant | 760.837.1486 | jchristensen@franklinlc.com

    Posted via email from Sean La Rue's Posterous

    Thursday, October 27, 2011

    Daily Update: New HARP Program Discussed

    RECOUP OF FUNDS - PROPERTIES PURCHASED FOR CASH

    RECOUP OF FUNDS – PROPERTIES PURCHASED FOR CASH

    Borrowers who purchased a primary residence or second home for cash will no longer have to wait six months to be eligible for a cash-out refinance.

    The following documentation requirements and guidelines must be met:

    • If the purchase was a non-arms length transaction or a bail-out, it would be ineligible for a Recoup of Funds-Cash-Out refinance.

    • A satisfactory letter of explanation with supporting documentation as to why the property was purchased using cash and the reason they are now seeking to recoup their monies.

    • Copy of HUD 1 Settlement Statement or Certified Final Closing Statement for the purchase of the subject property which confirms that no mortgage financing was used to obtain the subject property. The preliminary title search or report must also confirm no liens on the subject property. The Closing Statement will be reviewed for anything FLC would consider as a sales concession and any sales concessions will be deducted from the purchase price.

    • A copy of the sales contract with all counter offers and/or addendums and a copy of the certified escrow instructions to confirm if any personal property was included in the sales price. The sales contract must be reviewed for anything FLC would consider a discrepancy. Any discrepancies/red flags must be addressed.

    • LTV/TLTV will be based upon the lesser of the purchase price or appraised value, less any personal property that may have been included in the purchase.

    • Verification of the source of funds used to purchase the subject property must be documented from the borrower’s own funds.(bank statements, HELOC on another property, etc). The source(s) must meet FLC guidelines.

    • Any loans used as the source for the purchase transaction (i.e. HELOC on another property) will be required to be repaid or paid down with loan proceeds:

    Make it a great day,

    Sean K. La Rue

    Senior Vice President – Franklin Loan Center
    “Your KEY to Moving Home!”Yo hablo Español

    Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor 

    44800 Village Court – Palm Desert, CA 92260

    Mobile: 760.835.5663  Office: 760.837.1488  FAX: 800.784.9089

    Sean’s Weekly Newsletter 

    DRE# 01786480 NMLS# 291852

    Jan Christensen

    Executive Assistant | 760.837.1486 | jchristensen@franklinlc.com

    Posted via email from Sean La Rue's Posterous

    Wednesday, October 26, 2011

    BORROWERS ARE ARGUING OVER THE WRONG THING

    BORROWERS ARE ARGUING OVER THE WRONG THING

     

     

    If you’re around home sales and mortgages for any length of time, you understand how borrowers get very excited over an eighth of point in rate.

     

    Before securitization, there could be a pretty wide difference in rates, and it made sense to shop around. Mortgage rates were a lender-specific phenomenon, and rates could vary pretty noticeably from lender to lender.

     

    Now, there’s pretty much a standard rate that’s determined by FNMA and by the mortgage backed securities market, and the differences between lenders are pretty small.

     

    Still, borrowers will shop.

     

    The internet has, of course, played a big role in this.  A borrower can spend a few minutes at a computer and get rates from 20-30 or more lenders.  The rates won’t vary a huge amount, but it can be very seductive.

     

    If we do the math, though, borrowers are focusing on the wrong thing.  The monthly savings by saving an eighth in rate just don’t amount to much.

     

    Let’s look at a 30 year fixed rate loan for $300,000.  At 4-1/8% the monthly payments will be $1,432.  Now let’s assume the borrower shops all over town, spends hours on the internet, and he finds a lender at 4.0%.  Guess what, his payment drops by only $21!  That’s $252 a year, and even if the borrower stays in the house for eight years, it’s barely $2,000.

     

    It just isn’t all that much and in today’s world where the wrong lender can mean no closing.

     

    Wouldn’t buyers be better off negotiating a lower price of $3,000?  Or a $4,000 credit towards termite repair.

     

    When a Realtor recommends a lender, it’s because he or she knows that lender to be dependable. And closing on time can be a lot more important than saving an eighth of a point in fees.

     

    Rates matter.

     

    But it’s more important for borrowers to have a good Realtor to negotiate the best possible deal.

    Make it a great day,

    Sean K. La Rue

    Senior Vice President – Franklin Loan Center
    “Your KEY to Moving Home!”Yo hablo Español

    Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor 

    44800 Village Court – Palm Desert, CA 92260

    Mobile: 760.835.5663  Office: 760.837.1488  FAX: 800.784.9089

    Sean’s Weekly Newsletter 

    DRE# 01786480 NMLS# 291852

    Jan Christensen

    Executive Assistant | 760.837.1486 | jchristensen@franklinlc.com

    Posted via email from Sean La Rue's Posterous

    Tuesday, October 11, 2011

    10 Loan Commandments...

    AR-M620U_20111011_120048.pdf Download this file

    I thought this was a hilarious way to inform my clients, but the truth is most consumers don't know what they need to avoid during the loan process before, during, and after. One thing not on here is that opening up many news credit cards right before you buy a house could temporarily lower your credit score.

    Make it a great day,

    Sean K. La Rue
    Senior Vice President - Franklin Loan Center
    "Your KEY to Moving Home!" - Yo Hablo Español

    Jumbo Loan Expert | FHA/VA Direct Lender | Reverse Mortgage Advisor Mobile: 760.835.5663  Office: 760.837.1488  FAX: 800.784.9089
    DRE# 01786480 NMLS# 291852

    Posted via email from Sean La Rue's Posterous

    Sunday, June 5, 2011

    Funniest Golf Trick Shot Ever - Tiger Woods couldn't do this

    Check out this video on YouTube:


    Make it a great day,

    Sean La Rue
    Senior Vice President
    Franklin Loan Center
    760-835-5663
    slarue@franklinlc.com

    Posted via email from Sean La Rue's Posterous

    Thursday, April 21, 2011

    Lea Sargent is Surfing at 95!

    If we could all have so much heart.

    Check out this video on YouTube:


    Make it a great day,

    Sean La Rue
    Senior Vice President
    Franklin Loan Center
    760-835-5663
    slarue@franklinlc.com

    Posted via email from Sean La Rue's Posterous

    Monday, April 11, 2011

    CDAR Events this week!! Don't miss out...

    Like our page www.facebook.com/desertypn

    Visit our blog www.desertypn.org

    **Thursday, April 14th**

    General Membership Meeting

    Topic:      “Real Estate Road Warrior”  

    Speaker:  Shannon Williams King

    Time:       3:00 p.m. SHARP!

    Where:      Agua Caliente Casino Resort & Spa

                    32250 Bob Hope Drive, Rancho Mirage

    Cost:                FREE for C.D.A.R. Members!  $25 for Non-members

    R.S.V.P.     Call Joy at the Association or email joy@cdaronline.com

    Image001

    Please join us for our next Special General Membership Meeting!!     Learn how to utilize mobile office tools and accessories to facilitate smooth transactions.  Attendees will walk away with a clear idea on how to structure their business from using virtual assistants, student interns to over 25 mobile applications that are free or nearly free to use in their business saving them money and time!  Don’t miss this event!  See you there!

    **Thursday, April 14th**

    California Desert Young Professionals Network Mixer

    Time:           4:30 p.m. to 7:00 p.m. (Immediately Following the General Membership Meeting)

    Where:         Agua Caliente Casino Resort & Spa

                       32250 Bob Hope Drive, Rancho Mirage

    Cost:           $10

    R.S.V.P.        Contact Joy at the Association or email joy@cdaronline.com.

    Don’t miss this fun filled event following the General Membership Meeting!  Get a chance to interact with Shannon Williams King and network with all the young at heart guests!  Includes one drink ticket and complimentary hors d’oeuvres!

    We will also be giving away a free iPAD 2 so make sure to buy your tickets!  Stop by the Association office or simply click here:

    http://cdaripad2raffle-efbevent.eventbrite.com/ and purchase online.  Only $10 for one or three for $20!  Hope to see you there!

    Make it a great day!

    Sean K. La Rue

    “Your KEY to Moving Home!”
    Senior Vice President | Franklin Loan Center | Se Habla Español

    Direct: 760-837-1488 | Mobile: 760-835-5663 | Fax: 800-784-9089

    44-800 Village Court Palm Desert, CA 92260

    FHA | VA | USDA | Jumbo Loans | Conventional | Private Money | Reverse Mortgage | Canadian Financing

    Posted via email from Sean La Rue's Posterous

    Friday, April 8, 2011

    YPN Mixer

    > Hi Guys!
    > > Please help spread the word on this fantastic event. We're at 74 attendees as of right now for the General Membership meeting. Help! : )
    > > Thank you so much and I'll see y'all next week!

    Sean La Rue
    Franklin Loan Center
    Senior Vice President
    www.SeanLaRue.com
    760-835-5663

    YPN Flyer with Vision Statement pdf - Adobe Acrobat Standard.pdf Download this file

    >

    Posted via email from Sean La Rue's Posterous

    Thursday, March 3, 2011

    YPN Internet Lead Generation Flyer for YPN

    YPN INTERNET LEAD GENERATION PART 1 and 2 Flyer.pdf View this on Posterous

    Here we go guys,

    There is another event scheduled for your learning pleasure.  Come check out how you can make a difference in your business online by attending this seminar.  See attached flyer!!

    -Sean

    Posted via email from Sean La Rue's Posterous

    Friday, February 18, 2011

    Sean La Rue's Weekly Rate Update

    Hey Team,

    Happy Friday!  See this week’s rate sheet .

    **News Update**

    FHA announced earlier this week that starting in April the monthly mortgage insurance will be increased again.  It was changed from 0.55% to the current rate of 0.90% of the loan amount and will be 1.15% starting in April.  I have attached the announcement from HUD with this email for you to reference.

    Did you know that if you put 10% down on an FHA loan and you do a 15 year term there is no mortgage insurance? 

    Leverage my experience, knowledge and platform at Franklin Loan Center to get your clients approved and loans funded fast!!

    Make it a great day!

    Sean K. La Rue

    “Your KEY to Moving Home!”
    Senior Vice President
    | Franklin Loan Center | Se Habla Español

    FHA | VA | USDA | Jumbo Loans | Conventional | Private Money | Reverse Mortgage | Canadian Financing

    Download now or preview on posterous
    HUD FHA Update.pdf (161 KB)

    Posted via email from Sean La Rue's Posterous

    Tuesday, February 15, 2011

    Realtor Safety

    Thanks to Holly Lovas for presenting Safety Tips for Realtors at today's 212 Tuesday. The 3-day weekend is coming up and I know many of you are doing Open Houses, so here are some quick tips to stay safe on the streets.

    1. Be in sight of people approaching the house.
    2. Put a cow bell or jingle bell on the front door so if you don't have eyes on the door, you can hear people come in.
    3. Use your instincts; they are the best defense mechanism we have. We humans tend to approach danger rather than move away from it. MOVE AWAY FROM DANGER.
    4. Take a few extra seconds to know your escape route if danger approaches; in some cases it may mean leaving the house.
    5. Take a flashlight with you in case you are working a home that has no utilities. It gets dark here early!
    6. Carry pepper spray on your keys and have them in your hand when approaching your vehicle.
    7. A whistle can work wonders.
    8. Park your vehicle under a light.
    9. Don't be speaking on your phone while walking to your car; you are distracted and not paying as much attention.

    Let's be safe out there.

    Written by: Maria Bradfield

    Posted via email from Sean La Rue's Posterous

    Friday, February 11, 2011

    Sean La Rue's Weekly Rate Update (2 mins)

    TEAM,

    Rates have increased .750% over the past 3 months, and should continue to rise in 2011.

    See the attached flier for the current rates for the most popular financing programs available.

    We are a direct lender with 100% of all loan functions being handled here in the desert.

    Leverage my knowledge and experience in the mortgage business to help make you $$$$$$$$$. We can close loans in 30 days, and we mean it.


    Make it a great day!

    Sean K. La Rue
    “Your KEY to Moving Home!”
    Senior Vice President | Franklin Loan Center | Se Habla Español
    Direct: 760-837-1488 | Mobile: 760-835-5663 | Fax: 800-784-9089
    44-800 Village Court Palm Desert, CA 92260

    FHA | VA | USDA | Jumbo Loans | Conventional | Private Money | Reverse Mortgage | Canadian Financing

    Posted via email from Sean La Rue's Posterous

    Wednesday, January 19, 2011

    Top Mobile Apps

    Top 11+ Apps for 2011!!

    Enjoy the power point!!

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    Due to limitations placed on us by the Regulation of Investigatory Powers
    Act 2000, we were unable to keep a copy of the original attachment.

    At Wed Jan 19 22:53:19 2011 the virus scanner said:
    Attempt to hide real filename extension (Top 11 Apps.ppt.pdf)

    Sean La Rue
    Franklin Loan Center
    Senior Vice President
    About.Me/SeanLaRue

    Posted via email from Sean La Rue's Posterous

    Tuesday, January 4, 2011

    Real Estate Divorce Disclosure... what are your thoughts?

    What do you think about real estate transactions being required to disclose a divorce situation by the sellers of the property?  Do you think this is prudent?  How would this affect your ability to sell that property?  Big impact or very little?

    Thought you might enjoy this!
    - Sean

    Click to Play Video

    If you're not receiving these notices directly from ThinkBigWorkSmall and would like to subscribe, CLICK HERE

    Posted via email from Sean La Rue's Posterous