A Newsletter for Investors in Trust Deeds
Integrity • Knowledge • Honesty – March 2020
Our office is still open and very busy right now. We received 102 calls for loans last week. These calls were from other Brokers, internet searches, referrals from Realtors and social networking: Facebook, Linked In, etc. Obviously, not everyone qualifies – so we are carefully reviewing each one
Escrow and Title are overwhelmed as they have been bombarded with refi and purchase loans – due to low rates. The Feds are making sure rates stay low. We’ve received calls from two different County Managers for 2 different title companies and they have assured us, they want to keep our business and will do all they can to help.
We are watching the Real Estate market daily. County officials are still recording real estate transactions. The governor and counties have given the OK for home repair and construction work to continue.
CAR (California Association of Realtors) have issued rules/regulations for how to show a house that’s on the market (or not show a house on the market due to virus) which has made it more difficult to sell a house. But, there are some very clever realtors out there doing virtual showings and properties are selling. The real estate industry is always creative!
Mortgage giants Fannie Mae and Freddie Mac unveiled a payment deferral option for homeowners struggling to make their mortgage payments, regardless of whether the reason is related to COVID-19. Homeowners could be eligible to defer two months of their mortgage payments until the end of their mortgage, depending on their circumstance.
Reminds us once again – after the fires in Santa Rosa 2 1/2 years ago – it was predicted that many people would leave the area due to potential danger of fires. Some said Santa Rosa would become a ghost town. Just the opposite happened! Surprisingly, many decided to rebuild, and the fire areas are abuzz with house building noise. It’s exciting and fun to watch.
We are here and will continue to get you good offerings to invest in.