Victorville, CA Real Estate News

By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
If you're thinking about taking out a home improvement loan, there are several options to consider. First and foremost, your mortgage professional needs to know why you want a home improvement loan. Here are some factors to take into consideration.•·  How long have you been in the home?•·  Will the improvements increase the property value? •·  Are you making improvements to increase energy efficiency?•·  Will improvements be made in one fell swoop, or in stages?•·  What is the current outstanding balance on your mortgage?•·  What is the appraised value of the home?•·  How much will the improvements cost?•·  What improvements will be tax deductible?•·  Do you have other revolving debt that you would like to pay off at the same time?•·  Are you making improvements because you plan to sell...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
It's all over the news. Subprime mortgage companies are in the midst of a true crisis! According to The New York Times, over two dozen lenders have already closed their doors for good. In fact, more than half of the top 25 mortgage companies from 2006 have either reported serious losses, been sold off to other companies, or have filed for bankruptcy! When asked how many subprime lenders will be taken down by the current credit crunch, Bill Dallas, mortgage industry icon and former CEO of Ownit Mortgage Solutions, replied "all of them." When asked how many borrowers would be impacted by tightening credit standards, Dallas estimated anywhere from 10% to 40%, adding, "the coming shift in available products will be huge." This could negatively impact anyone seeking financing in the next 12 ...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
When a marriage ends in divorce, the lives of those involved are changed forever. During this time of upheaval, one thing that shouldn't have to change is the credit status you've worked so hard to achieve.Unfortunately, for many, the experience is the exact opposite. Unfulfilled promises to pay bills, the maxing out of credit cards, and a total breakdown in communication frequently lead to the annihilation of at least one spouse's credit. Depending upon how finances are structured, it can sometimes have a negative impact on both parties.The good news is it doesn't have to be this way. By taking a proactive approach and creating a specific plan to maintain one's credit status, anyone can ensure that "starting over" doesn't have to mean rebuilding credit.The first step for anyone going t...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
With interest rates still near 40-year lows, is a 30- year, fixed-rate mortgage the right choice? While the mass media's response is usually yes, my reply is NO. Today's market is much different than the market and lifestyle of the previous generation. That generation typically had one job, one pension, one house and one mortgage. That lifestyle no longer holds true today. Pension plans seem to be a thing of the past unless you are employed in the airline industry and many of the public services agencies. Most Americans will hold five or more jobs throughout their careers. As far as houses and mortgages, the average family remains in a house for only seven years and the average mortgage lasts only four years. Even if you found your dream house and never plan on moving, a 30-year, fixed-...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The mortgage planning process is different than the typical "shopping for a mortgage" experience. The mortgage planning relationship is not about you: Wasting your valuable time trying to save $25/month by comparing rates, fees and closing costs among different lenders. Wasting your valuable time trying to baby-sit the mortgage company you've reluctantly chosen to work with. Being promised one thing and then getting something different at closing. Being "sold" on one mortgage product over another. The mortgage planning relationship is about you: Receiving valuable financial advice and guidance that can literally save you hundreds of thousands of dollars. Trusting a professional who is committed, qualified and equipped to deliver what they promise. Experiencing a "concierge" level of ser...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Finding a mortgage that's right for you should be easy. There are literally hundreds of options to choose from, including Fixed Rate, Adjustable Rate, Hybrids, Interest Only, Monthly Option ARMs, and Pay Select Mortgages, to name just a few. Mortgages are available at rates ranging from an introductory rate of 1.00% to well over 10.00%. You can finance up to 100% of your home's value and, in some cases, your closing costs as well.However, because there are so many options available, it's important to seek advice from an experienced mortgage professional who has your best interest at heart. The first step in determining which program is right for you is to ask yourself the important questions listed below. These questions can also help you confirm that you've chosen the right mortgage pr...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Did you know that the major credit bureaus sell your personal information? It's true! Known as "trigger leads", the files of borrowers applying for a home loan are immediately flagged, packaged, and sold by the credit bureaus to the highest bidders. For about $25 to $100 or more, your name and certain specifics about your credit report, including your address, phone number, mortgage history, and even your FICO score range, are sold to unscrupulous mortgage companies which then blindly solicit your business. This results in numerous unwanted phone calls and junk mail offers which are in no way associated with your real estate agent or loan professional.Unfortunately, no legislation presently exists to prevent the credit bureaus from profiting at your expense. As a trigger lead, you are s...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Points are up-front fees paid by the borrower to obtain a better interest rate on a loan. One point equals one percent of the loan amount. And while a lower interest rate may result in a lower monthly payment, it is important to consider how long you intend to be in the loan and to compare current interest rates to historical market trends. This will help you to determine whether paying points is a worthwhile investment. Let's look at a sample scenario. If you take out a $300,000 mortgage and decide to pay one point in order to lower your interest rate, this would translate into an up-front cost of $3,000. To keep things simple, we'll assume that paying this one point will save you $50 a month. This means it will take you 60 months to recoup the cost of that point. If you decide to refi...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Since its inception, the Internet has caused a fair share of controversy. Some people see it as a valuable tool while others consider it the devil's playground. Wherever you stand, one thing is certain - it has changed our idea of commerce forever.eBay® is a perfect example. On this website, the economic theory of supply and demand is played out on a daily basis as consumers bid against each other to purchase an array of products. In many cases, items once thought to be rare collectibles are now readily available from a variety of sellers. This is good news for buyers, who are able to obtain these items at lower prices. Sellers, on the other hand, are finding themselves with a lower profit margin than they originally anticipated.The eBay principle can be applied to other websites as wel...
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By Val Rensink
(HomeSource Lamoreaux Group)
Where do people go to talk about real estate in an open atmosphere where you feel carefree and not pressured? Well, just perhaps, at the Diamond Anniversary Celebration of the San Bernardino County Fair.  60 years in the making and still drawing crowds and headliner's. According to the new promotional company TMG Communications this will be a very revved up event-one you don't want to miss. I have attended the fair for the past few years, because I have worked on a Dairy/Corn-Soybean Farm in Iowa and we went to the state fair. I go for good memories and to make some more. I love to take my family. You know it ends up being kind of a family tradition.But this one is more, I was invited along with 300 other high desert community leaders to attend the First Annual Region Wide Business netw...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
When a bank, mortgage company or credit union approves your home equity line of credit (HELOC), it doesn't give you a check. Instead, you get a checkbook; sometimes you receive a debit card too. You can write checks as you normally would (or use the card), except that each use is really a loan against your HELOC's credit limit.You can use the HELOC to pay for any expense or purchase, and the bank will start to charge you interest as soon as the card is used or the check is cashed. Although the bank will insist on a minimum monthly payment, you are free to repay the loan in full at any time - and after you do, you're free to borrow again through continued use of the checks and card. In this sense, the HELOC is similar to a revolving line of credit or credit card. All told, HELOCs are con...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The Internet has revolutionized the way we live in countless ways. We are able to access news as it's happening, email friends and relatives all over the world, and purchase anything from cars to vacation packages with a few clicks of the mouse.What's ironic is that we frequently neglect to use this amazing resource when it comes to finding things in our local area. That's where GoogleTM, the world's leading search engine, comes in. Google has produced a search tool, called Google Local, which you can use to locate anything from an Italian restaurant or golf course to a dentist or CPA, all within a few miles of your home!To access Google Local, you may go there directly (www.local.google.com) or you can click on the "Local" link at the top of the page at www.google.com. Once there, spec...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
1. Pre-qualification - Lenders are encouraging buyers to get pre-qualified for a mortgage so they'll know in advance how much house they can afford.2. Loan Search - Although buyers often use a lender recommended by their Real Estate agent, some prefer to do their own comparisons.3. The Hunt - The buyer begins shopping for a house. When the right one is found, the terms of the sale are negotiated, including the sale price and often the type and conditions of the loan being sought.4. Loan Application - It's crucial to 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.5. Documentation - Paperwork supporting the application must also be submitted. Information commonly sought includes pay s...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The U.S. economy, interest rates, and the housing market are frequent topics on the nightly news. Viewers are told about leading economic indicators, how the stock market has performed, and whether the Federal Reserve is planning on changing interest rates. What isn't explained is how these items are interrelated and how they may impact which home loan is best for you.The Federal Reserve attempts to keep the U.S. economy healthy through its use of monetary policy. As fears of inflation increase, the Fed will raise certain short-term interest rates such as the federal funds rate, which is the interest rate banks pay each other for overnight loans. Such an increase causes a ripple effect, with banks raising their prime lending rate. This, in turn, causes an increase in Adjustable Rate Mor...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Interpreting one of the main challenges of today's mortgage market isn't as difficult as it might seem. With interest rates on the rise, a lot of consumers are extremely troubled by the negative effects of increasing interest rates on their Adjustable Rate Mortgages. Each month, they are forced to watch hopelessly as their monthly payments increase and interest rates climb closer and closer to the lifetime caps of their loans. For these homeowners who are struggling, refinancing into a 30-year fixed rate mortgage may not help them right now. In fact, doing so could increase their monthly payment and further strain their finances.So, what's the solution for homeowners who are stuck with an ARM they don't want or can no longer afford? And, what can real estate agents, builders, and other ...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Does this scenario sound familiar? Your latest credit card statement comes in the mail, and there's an error. You know that it needs to be dealt with, but for some reason you keep putting it off. Then it hits you. The reason for your procrastination is that you just cannot bear the thought of calling "customer service". Just the idea of facing a telephone maze of pressing buttons and repeating personal information over and over again to a computer is so daunting, so loathsome, you actually consider just paying the charge.The good news is your days of wallowing through the Dante's Inferno of customer service phone systems are over. Thanks to a computer programmer/blogger named Paul English, you can now talk to a real human being in a fraction of the time. You see, Paul and his Internet f...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Here is a link that will help you discover Victorville and some of the history behind it!!Victorville, California - Wikipedia, the free encyclopediaHope you find this site informative. Please don't hesitate to give me a call if you need any more information.   
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
In terms of the economy and its effect on our daily lives, there is no hotter topic than the outrageous prices we are seeing at the pumps. The maddening part is as consumers, we have zero control over these inflated costs. To make matters worse, there's always that person who says something like, "You know, Europeans pay a lot more for gas than we do." That's true, but it doesn't make it any easier when we're reaching for our credit cards at the pump. The absolute worst part about high gas prices, however, is the notion of having no alternatives. Even a diligent hybrid owner has to make a trip to the gas station at some point, right?So, now that you're feeling backed into a corner and completely depressed about the situation, what do you do? The answer is actually a simple one; cut down...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
Saving for your child's education just became a bit more complex as a result of the new tax bill passed last May. The Uniform Gifts to Minors Act (UGMA) is a popular program which allows minors to own stock in their name and, if they fall between the ages of 14-17, to pay taxes on the proceeds exceeding $1700 at their own lower tax rate. Under the new legislation, however, these proceeds will be taxed at the parents' higher rate, challenging the growth potential of this investment plan.Other popular college savings plans include the 529 State College Savings Plan, the Prepaid 529, Coverdell ESA, and Financial Aid. The 529 and Prepaid 529 Plans offer special tax breaks to anyone (not just a relative) who opens an account on behalf of the future college student. Contributions are kept in ...
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By John Caylor, Post Falls, ID Mortgages
(Infinity Financial Group)
The US government expects to collect some $2.6 trillion in tax revenue this year! That's a 6% increase over last year, and a 13% jump since 2005. With the tax season behind us, did you ever wonder how your tax contributions are spent? Well, according to the government's 2008 budget, nearly 71% of this money is already slated for mandatory programs such as Social Security, Medicare, and interest toward the national debt. The military receives about 17% of the total budget, with another 1.3% funding homeland security. The remaining discretionary revenue not only funds highways, railroads, airports, etc., it also pays for federal agencies responsible for science, space exploration, medical research, education, environment, labor, law enforcement, etc. Finally, about 0.5% is spent on foreig...
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