If you lived through the devastation of the North Bay fires last October, you are painfully aware that your insurance premiums are much more than a necessary evil.  Each homeowner has experienced their own heart-breaking story of the fire. Some have found that their insurance company was a supportive and helpful advocate, while others have experienced a nightmare dealing with insurance issues.  But it doesn’t necessarily take a major disaster, like a fire, to find yourself with insurance woes.

It is imperative to stay in the good graces of your insurance company.  Performing regular maintenance, like clearing overhanging tree branches and checking for roofing problems, can help keep claims at a minimum.  An insurer considers one claim in nine or ten years as average, more than that and you are considered a risk.

Recently, there was an article in Realtor.com listing several reasons you could be dropped by your insurance firm, leaving you with unprotected property.  Knowing these, so you can be more at cause and not be caught off-guard, is smart:

• An old roof
• Too many claims
• Insurer decides not to cover your area or state
• Pets

It is equally important to complete a yearly policy check- up making sure you have enough coverage. The insurance lessons learned by the fire and flood victims of 2017 need not be repeated.

Give us a call (707) 523-2099, and learn about how our alternative financing programs can help your next Real Estate purchase!

Brokers who partner with us are able to expand the services available to their clients with little or no effort on their part.  We do all the heavy lifting.

As a Hard Money mortgage broker who has been in business for 30 years, we have developed a comprehensive and effective program dealing with our broker-partners.  We give you no reason to fear that we will steal your client. Providing regular communications and smooth funding to you and your borrower during the lending process, helps to cement your relationship with them.

We offer a wide variety of Hard Money financing options – purchases and refinances for Owner Occupied, Non-owner Occupied, Land and Commercial.

Give us a call at 707-523-2099 to discuss how we can partner with you to help expand your business.

These days it appears that many more baby boomers are reaching the age of retirement, and asking themselves the big question: “To move or not to move?”  There are arguments to be made on both sides. With low availability inventory for smaller scale homes, some retirees have begun to evaluate their present home’s ability to meet their retirement needs.  

Some of the more pertinent factors potential retirees will want to consider before making this major decision include the following:

• AFFORDABILITY:  Consider the monthly costs, especially property taxes which can consume a large portion of the new budget.  Depending on where you move, you may or may not lose your Prop 13 benefit. In any event, you will still have insurance, utilities, and possibly HOA dues.  You might determine that paying for help to maintain you present home or to make mobility adjustments to your home, would be more affordable than actually moving.
• EQUITY:  You may be able to tap into the equity in your present home, which would allow you to remodel your home making it “retirement friendly”.  Alternatively, if you opt to sell, the equity you have gained over the years may be enough to purchase your new home with little or no mortgage.
• MAINTENANCE:  Do you want to continue doing all the chores your home requires as you age, or would paying an HOA to take care of those necessities offer you a welcomed relief?
• SECURITY:  There can be a great sense of security living in a community with a gate house or resident-only access.  Any way you look at it, having an extra pair of eyes looking out for you always leads to peace of mind.
• PETS:  Renting with a pet presents problems in today’s market. You will want to consider all the issues related to your pet’s safety and happiness when contemplating a move with your furry friend.
• MOBILITY:  As much as no one wants to think of themselves dependent on a walker or wheelchair in the future, it should be a necessary consideration when planning ahead.
• CONVENIENCE:  Some of the factors that will influence your decision will probably include proximity to hospitals/doctors, shopping, dining, and most importantly, grandchildren.

If your plans require alternative financing then knowing a Hard Money Lender could help make your plans a reality.  We at Sun Pacific Mortgage are here to work our magic for you! Please give us a call at 707-523-2099 to explore our program options.

What is hard money? A category of real estate loan program, usually short term, fast and used to handle whatever the problem was in the profile of the Borrower or property. The problems could be credit, income, the property itself and/or simply the need for speed.

Hard Money is not money from a bank. The funds are from individuals that lend to make way more interest than they would otherwise. We have over 450 “investors” with money to lend.

Investors are mostly interested in the equity in the property which serves as the security for the loan. Most do not care about the credit score or how the borrower makes income.
Therefore the 2 qualifications for a Hard Money loan are….

1. Equity or decent down payment.

2. Ability to repay the loan.

Why Hard Money? – SPEED…… We did a loan for a couple who purchased right after the fires in October 2017. Their house burned down and they wanted to move quickly as they were displaced. Their credit was perfect, excellent incomes and a large down payment but did not want to wait to get a bank loan.

They also knew that an offer with a short escrow would be more attractive to a seller. Their Realtor offered a fair price and a 9-day close. This offer was chosen out of the many that were received!

Best, Broker & Broker – The Guys in the White Hats