Some interest...ing info from my buddy Tray

From Tray - take heed:


“WILLING TO MAKE DECISIONS." General George Patton. And that's exactly what the Fed did last week at their regularly scheduled Federal Open Market Committee meeting. But just what did they decide...and what do their decisions mean for home loan rates?
The Fed said they are going to ration out the remaining commitment of Mortgage Backed Security purchases through the first quarter of 2010. There will be no additional buying, but instead, a longer weaning off of the program. There was some speculation about the Fed increasing the amount of buying above the $1.25T committed to, and last week's statement is the Fed's nice way of saying "no." They will not be buying more in quantity, but what they will do is attempt to provide a smoother transition to normal market conditions.
It is a given that once the Fed ceases its purchases, that interest rates will climb significantly higher...most likely back above the 6% area. So instead of a hard transition with a large bump in rates, the Fed is attempting to allow rates to gradually rise. This means that waiting to purchase or refinance will very likely mean a higher interest rate.
Their decision also means that the Fed's remaining purchases will all be lower in quantity, as the remaining allotment for purchases will be spread over a longer period of time - and additionally, will not necessarily be spread out as evenly as their past purchases - which could lead to more volatility for rates in the near term.
In other news, Existing Home Sales and New Home Sales were reported slightly less than expected, but both reports continue to show signs of an improving housing market. The inventory of unsold existing homes fell to its lowest inventory level since April 2007, while the inventory of unsold new homes dropped to its lowest level since January 2007. While some of the decline in new home inventory may be due to builders constructing fewer homes - these reports indicate that the housing market is indeed showing signs of life.
Remember, with home loan rates still low - but slated to increase with the Fed's recent decision - as well as a juicy tax credit for First Time Home Buyers that is going to expire on November 30th, it makes sense to get off the fence if you've been considering a purchase or refinance.
Or do you have a family member, neighbor, friend or coworker who might benefit from getting some good home loan advice? I'm always glad to get your referrals, so simply let me know who I might be able to help.

Atrayon “Tray” David Trevino
Licensed Mortgage Banker
Certified Home Loan Specialist

Mobile 760-415-2417
Email: ttrevino@magnifundgroup.com
Website: www.magnifundgroup.com
BBB Link: BBB Rating

Info from Equity Title

I often get questions regarding escrow from new buyers or people who have been out of the market for a while. Here is some quick info on escrow's workings. Let me know if you need more.

WHO DOES WHAT IN THE ESCROW PROCESS?


The Seller
Deposits the executed deed to the buyer with the escrow holder.
Deposits evidence of pest inspection and any required repair work.
Deposits other required documents such as tax receipts, addresses of mortgage holders, insurance policies, equipment warranties or home warranty contracts, etc.
The Buyer
Deposits the funds required, in addition to any borrowed funds, to pay the purchase price with the escrow holder.
Deposits funds sufficient for home and title insurance.
Arranges for any borrowed funds to be delivered to the escrow holder.
Deposits any deed of trust or mortgages necessary to secure loans.
Approves any inspection reports, title insurance commitments, etc. called for by the purchase and sale agreements.
Fulfills any other conditions specified in the escrow instructions.
The Lender (If Applicable)
Deposits proceeds of the loan to the purchaser.
Directs the escrow holder on the conditions under which the loan funds may be used.
The Escrow Holder
Opens the order for title insurance.
Obtains approvals from the buyer on title insurance report, pest and other inspections.
Receives funds from the buyer and/or any lender.
Prorates insurance, taxes, rents, etc.
Disburses funds for title insurance, recordation fees, real estate commissions, lien clearance, etc.
Prepares a final statement for each party, indicating amounts to be disbursed for services and any further amounts necessary to close escrow.
Records deed and loan documents, delivers the deed to the buyer, loan documents to the lender and funds to the seller, closing the escrow.

For more information check them out at:
https://www.equitytitle.com/metroportal/

Stunning numbers - ever changing

Click this link but be sitting down. Here are the numbers without a spin master massaging them. Just raw numbers that will make you dizzy.







http://www.usdebtclock.org/

What if you ran your household like this? What does this mean to my 10 year old? Anyone have an idea of what to do? Please post your ideas if you do. Thanks.

http://www.surfline.com/surf-news/how-our-plastic-use-is-coming-back-at-us-in-waves_30095/

Mary Crowley is a friend of my wife and very active in the environmental movement. Here is a partial reprint of an article about her in Surfline and a picture of her ship used in the expedition. If you are interested, please click on the link and read it all. Find a way to help, even if you just pick up plastic on your way in from each surf session. Thanks.

PLASTICS: FROM BOTTLE TO BARREL
How our plastic use is coming back at us in waves
By: Dean LaTourrette
September 2, 2009
10651 views | 26 comments

Sailing out through the Golden Gate and into the vastness of the Pacific Ocean, Mary Crowley took one last look at the City by the Bay as it went by. A cannon salute bellowed from the nearby St. Francis Yacht Club, while colleague George Orbelian paddled his 9'2" George Downing big-wave gun out to wish the vessel farewell.


The boat she was crewing on, a 150-foot research brigantine named Kaisei ("ocean planet" in Japanese), made its way out into open ocean and set its course towards the North Pacific Gyre, roughly a thousand miles off the California coast. Crowley was more than just crew, however. As the founder of Ocean Voyages Institute and co-founder of Project Kaisei (www.projectkaisei.org) along with Orbelian and Doug Woodring, she played a large role in pulling the entire voyage together -- a one-month, 3000-plus-mile research journey several years in the making. All this, in the name of plastic.

Well, not quite just plastic. Crowley and team were headed to study the Great Pacific Garbage Patch, and plastic debris was the focal point. Along the way the band of scientists, environmentalists and yes, surfers, were to examine the North Pacific Gyre region, and the marine debris that has collected there. "The more accurately we can describe the problem, the better we can design the solution," says Orbelian, a San Francisco surfer who, among other things, served as SURFER Magazine's surfboard design editor in the late 1980s.

But let's back up a moment. For those who haven't yet heard the news, there's a giant garbage dump floating smack dab in the middle of the Pacific Ocean that, according to various researchers, has been quietly growing at a rapid rate. It's called the Great Pacific Garbage Patch, comprised of two sub-areas called the Western Garbage Patch and the Eastern Garbage Patch, and despite lots of wishful thinking, the problem isn't going away -- it's getting worse.