How “The Guy In The White Hat” Came To Be

Hi. My name is Forest Tardibuono and I am the proud Co-owner and Broker of Sun Pacific Mortgage & Real Estate since 1988 – established in Sonoma County, CA!

Thought I’d tell you a bit about myself as my kids have nagged at me to let people know my interesting life history up to now…they say it answers why I came to be a Broker, taking a sincere interest in helping others. So here I go:

I was born in 1957 in Irumagawa, Japan at the Johnson Air Force Base. I have 7 siblings – with 2 sets of twins – so I had my hands full helping out as the eldest!

As my father was in the Air Force, we travelled a lot. One can say I was a military brat until 1972 when my Dad retired at Williams Air Force Base outside of Chandler, Arizona. We had moved back and forth, living in Illinois, Japan and finally settled down in Arizona.

My Mother was a teacher at the Catholic Grade school I attended and she was my teacher through my 7th and 8th grades for English, art and music.

[youtube=http://www.youtube.com/watch?v=JP-qGpAnpHo&w=501&h=281&hd=1]

I graduated Chandler High School in 1975 and I lettered in football, wrestling and believe it or not, in Debate!

I also must mention my 7 proud years of newspaper delivery of “The Phoenix Gazette” and the Sunday morning paper “The Arizona Republic” every single day! I was paperboy of the month several times out of hundreds of carriers and also paperboy of the year. Guess you could say I liked to excel at everything I put my mind to!

After College I went to Arizona State University on a debate scholarship. Graduated with a Bachelor of Science Degree in Business and Public Administration in 1982 and also joined the national social fraternity Phi Sigma Kappa.

I moved to La Jolla, California and did first year’s law studies at Western State University College of Law where I met my lovely future spouse and co-owner, Lynn. We married in 1987 and chose to move to Santa Rosa, CA. in December of 1987 because they had a law school with a night program as well as how beautiful it was here.

Our daughter, Megan, was born January 30, 1989 and happily joined our family of Lynn’s two sons of her previous marriage: Ken 7 and Phillip 3.

We opened Sun Harbor Mortgage on January 11, 1988 which was a branch of a San Diego Mortgage company. Since we had a true personal desire to help others in this county with honest financial services, we bought them out in June 1990 and changed the name to Sun Pacific Mortgage which has since evolved in 2004 to Sun Pacific Mortgage & Real Estate as we offer both real estate and mortgage/lending services!

Throughout my tenure as the Broker, I worked diligently to deliver the best service to all our customers and received the prestigious Model-Of-Admin-Know-How Award from WISE International for 10 consecutive years, beginning in 1997.

I take pleasure in working hard to help others during the week and on weekends enjoy fishing, gardening and golf – as well as a variety of other activities including spending joyful time with my 1st grandson, Braden, who was born July 2009.

Having helped literally thousands of customers, I continue to strive to deliver the most honest and friendly service to all Borrowers, Buyers, Agents, Brokers, Investors and other affiliates I am in contact with on a regular basis. I enjoy what I do and am sincerely happy to help in any way I can.

I look forward to doing the same for you!

Feel free to call me up at 707/523-2099 for a free consultation, ask any question you have about mortgages, lending or real estate, to refer a friend or family member in need of my services or to get help yourself!

My website is regularly updated with timely information, tips, articles and videos about the current market of real estate and lending so take a moment to check it out: https://www.sunpacificmortgage.com//. You can also sign up there to receive emails and videos with timely information about the real estate and mortgage and lending markets.

Sincerely,

Forest

How “The Guy In The White Hat” Came To Be

Hi. My name is Forest Tardibuono and I am the proud Co-owner and Broker of Sun Pacific Mortgage & Real Estate since 1988 – established in Sonoma County, CA!

Thought I’d tell you a bit about myself as my kids have nagged at me to let people know my interesting life history up to now…they say it answers why I came to be a Broker, taking a sincere interest in helping others. So here I go:

I was born in 1957 in Irumagawa, Japan at the Johnson Air Force Base. I have 7 siblings – with 2 sets of twins – so I had my hands full helping out as the eldest!

As my father was in the Air Force, we travelled a lot. One can say I was a military brat until 1972 when my Dad retired at Williams Air Force Base outside of Chandler, Arizona. We had moved back and forth, living in Illinois, Japan and finally settled down in Arizona.

My Mother was a teacher at the Catholic Grade school I attended and she was my teacher through my 7th and 8th grades for English, art and music.

[youtube=http://www.youtube.com/watch?v=JP-qGpAnpHo&w=501&h=281&hd=1]

I graduated Chandler High School in 1975 and I lettered in football, wrestling and believe it or not, in Debate!

I also must mention my 7 proud years of newspaper delivery of “The Phoenix Gazette” and the Sunday morning paper “The Arizona Republic” every single day! I was paperboy of the month several times out of hundreds of carriers and also paperboy of the year. Guess you could say I liked to excel at everything I put my mind to!

After College I went to Arizona State University on a debate scholarship. Graduated with a Bachelor of Science Degree in Business and Public Administration in 1982 and also joined the national social fraternity Phi Sigma Kappa.

I moved to La Jolla, California and did first year’s law studies at Western State University College of Law where I met my lovely future spouse and co-owner, Lynn. We married in 1987 and chose to move to Santa Rosa, CA. in December of 1987 because they had a law school with a night program as well as how beautiful it was here.

Our daughter, Megan, was born January 30, 1989 and happily joined our family of Lynn’s two sons of her previous marriage: Ken 7 and Phillip 3.

We opened Sun Harbor Mortgage on January 11, 1988 which was a branch of a San Diego Mortgage company. Since we had a true personal desire to help others in this county with honest financial services, we bought them out in June 1990 and changed the name to Sun Pacific Mortgage which has since evolved in 2004 to Sun Pacific Mortgage & Real Estate as we offer both real estate and mortgage/lending services!

Throughout my tenure as the Broker, I worked diligently to deliver the best service to all our customers and received the prestigious Model-Of-Admin-Know-How Award from WISE International for 10 consecutive years, beginning in 1997.

I take pleasure in working hard to help others during the week and on weekends enjoy fishing, gardening and golf – as well as a variety of other activities including spending joyful time with my 1st grandson, Braden, who was born July 2009.

Having helped literally thousands of customers, I continue to strive to deliver the most honest and friendly service to all Borrowers, Buyers, Agents, Brokers, Investors and other affiliates I am in contact with on a regular basis. I enjoy what I do and am sincerely happy to help in any way I can.

I look forward to doing the same for you!

Feel free to call me up at 707/523-2099 for a free consultation, ask any question you have about mortgages, lending or real estate, to refer a friend or family member in need of my services or to get help yourself!

My website is regularly updated with timely information, tips, articles and videos about the current market of real estate and lending so take a moment to check it out: https://www.sunpacificmortgage.com//. You can also sign up there to receive emails and videos with timely information about the real estate and mortgage and lending markets.

Sincerely,

Forest

We Are Looking For Private Investors

I am looking for private money investors willing to fund loans in the following North Bay Area counties: Sonoma, Marin, Contra Costa, Solano, Lake, Alameda, and Mendocino.

As the owner and Broker I have been doing Private Money Loans for 20 plus years and within the past months have been increasing the # of Trust Deeds being sold in the above areas.

These types of loans are first mortgages secured by residential or commercial real estate;  Purchase or refinance;  Owner occupied and investment. Loan sizes from $30,000 to $400,000 although I will put together larger loans.  Rates are 11% to 13%.  Terms are from 12 months to 7 years.  Loan to value up to 70%.

As a local, family owned business in Sonoma County since 1988, we have been offering Private Money or Hard Money loans for over 20 years. We deal with hundreds of Private Investors interested in making safe investments in real estate.

Weekly we send out Trust Deed Offerings for sale and are looking to expand our counties with interested Private investors

We offer these types of loans to some of the following qualified individuals:

· Buyer turned down due to poor credit.

· Buyer turned down due to difficult to verify income.

· Property a fixer.

· Buyer has at least 25% down payment but can’t get more conventional financing.

· We can also do Buyers fresh out of bankruptcy, Short Sale and/or foreclosure.

Hard Money specifics: www.sunpacmortgage.com/Private-hard-money

 

Call me, at (707) 523-2099 for a confidential interview or drop me an email

Forest Tardibuono

forest@sunpacmortgage.com

DRE#01464899

NMLS# 360993

Check out our website at www.sunpacmortgage.com/

“Like” Us on Facebook at www.facebook.com/sunpacmortgage to receive a FREE Homebuyers Guide, and regular real estate, mortgage lending tips, and updates.

The Guy In The White Hat Comes To Homebuyers’ Rescue!

The Guy In The White Hat Comes To Homebuyers’ Rescue!

[youtube=http://www.youtube.com/watch?v=k3eFWtb6pz0&w=448&h=252&hd=1]

 

Ever since we opened our doors in Sonoma County in 1988, we’ve given extra care to round up people who have been “Turned Down Elsewhere?” – because of credit, income, the property or a combinations of these.

We are the local Hard Money Lender who can help rescue your deal…and get your Buyer into that Home!

Here are some Hard Money Buyers recently rescued…

Home Purchase Purchase price $237,000. Buyers had a friend who loaned them the down payment of 20% as a 2nd mortgage. Purchase money first of $189,600. 100% combined loan to value!

Flipper 80% Loan to Value (LTV) in Santa Rosa. Loan amount $315,000 on a fixer upper. 12% interest only for 12 months. This loan was done in 4 days!!

Owner Occupied Principal Residence Purchase – A conventional lender denied this loan due to a foreclosure. 50% Down. Loan amount $90,000 at 12% interest only. 10 days from application to recording!

Loan approval is based on just 2 criteria:

1. Good Down Payment

2. Ability to Repay

  • FAST Private Money for purchasing in Sonoma County and contiguous Counties
  • FICO is not a factor
  • Up to 75% loan-to-value – Case by case basis
  • Loan amounts from $75,000 to $400,000
  • Owner Occupied and Investor Loans

SPECIAL NOTE: WE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

CALL FOREST at 523-2099

Or email him at forest@sunpacmortgage.com

Visit us @ www.sunpacmortgage.com

“LIKE” us @ www.facebook.com/sunpacmortgage

Sun Pacific Investor Quarterly

A Newsletter for Investors in Trust Deeds

May 2011 Volume 7 Issue 3

Integrity KnowledgeHonesty

Message from the Broker…

Instead of my usual message here, I want to remind all of this upcoming…

HARD MONEY INVESTOR SEMINAR

Attend this informal discussion of current regulations impacting Hard Money Investments. Tuesday – May 10th @ 5:30 pm at the offices of Sun Pacific Mortgage – 800 Mendocino Avenue #2, Santa Rosa.

RSVP please to Ari, Forest or Lynn or for your convince you can click RVSP

[youtube=http://www.youtube.com/watch?v=qUulYfnpSjY&w=579&h=325&hd=1]
An introduction into the upcoming Investors Seminar on May 10th, 2011 at your convince

 

**SPECIAL GUEST SPEAKER: Santa Rosa Attorney Max Broome will be there to participate in the discussions and answer your questions from a legal perspective.

A Bit More on Predatory Lending

In no particular order here are some of the more relevant topics that apply to Hard Money Investing.

1. Nationwide Mortgage Licensing System and Registry – NMLS. All Mortgage Loan Originators (MLO) need be qualified through this Registry. They have to pass local and federal tests. There are credit checks, criminal background checks, credit checks and financial qualifications. This is above and beyond the state licensing. There is also substantial quarterly and annual reporting. The Mortgage Loan Originator is given a Unique Identifier Number. There is also one for the company he/she works for. Make sure your Broker has this number.

2. Lender Purchaser Disclosure Statement – LPDS. This describes the trust deed offering from the Mortgage Loan Originator. You need to sign this form for each loan you fund.

3. MLDS/GFE. This form must be provided to the borrower within 72 hours of the MLO receiving the loan application.

4. High Priced Mortgage Loan – HPML. There are 2 tests to see if this loan is an HPML. One is the Fee Test and the other is the Interest Rate Test. Both the feds and the State of California have these 2 ways of determining if the if the loan is an HPML. It does not in any way limit the fees that can be charged or the interest rate on the note. It does require additional disclosures.

5. Ability to Repay. The feds want anyone borrowing money against a residential property with 1 to 4 units, to be able to prove they have the ability to repay the loan and their other obligations. This generally applies to the borrowers principal residence.

I think the above are the main areas that an investor should be familiar with. You can go on line and look up any of those areas to get more insight. I’ll continue these Newsletters.

SUMMARY…

From my review of the regulations currently in effect, there is nothing I have seen that should stop you from making Hard Money loans.

I would suggest that the next time you get approached about doing a loan with a better loan to value or strong borrower or nicer property, that you think about the rate you will require for that loan. Your Broker should be compelled to do that on your behalf as a pattern and practice.

Feel free to call or email me anytime with further questions you may have regarding investing in Deeds of Trust.

I would also like to personally invite you to the Hard Money Investor Seminar. It will expand on these topics mentioned here as well as others that are relevant Hard Money Lending. And if you’re reading this, I’m guessing that’s what you do. Whether you do it a little or a lot, knowledge is power. It certainly applies here because it’s your money!

Best,

Forest Tardibuono

Owner/Broker

NMLS Unique Identifier # 289456

Sun Pacific Mortgage & Real Estate
 800 Mendocino Avenue Suite # 2
Santa Rosa, CA 95401

(707) 523-2099

or email Forest at forest@sunpacmortgage.com

Visit us @ www.sunpacmortgage.com

“LIKE” us @ www.facebook.com/sunpacmortgage

“HARD MONEY” OR “PRIVATE MONEY” LOAN REVISITED

LENDER’S VIEWPOINT

By Forest Tardibuono

There are several types of loans you can use to purchase or refinance. This applies whether you are buying a home to live in, a home to rent out, or a commercial building. They include the standard 30 year fixed rate mortgage, the government FHA/VA loans, a commercial property SBA loan, or a Private Money loan.

Private Money is borrowed from private individuals. I bet you’ve borrowed money from a relative. That was a Private Money loan, likely unsecured. It wasn’t from the bank or some other institution. Most private money lenders/investors lend money through a mortgage company (there are laws that require this). The rates and fees are higher than those you’d get from a bank or credit union that does 30 fixed rate mortgages.

Why then would anyone borrow Private Money? There are lots of reasons.

You can get a Private Money loan in spite of a foreclosure, bankruptcy or short sale!

I thought to make the above sentence read like a headline, because it should. No bank or credit union or anyone doing home loans other than Private Money will lend to someone who had a recent bankruptcy, foreclosure or short sale. Further, the property you want to borrow against may not be something a bank will lend on. Banks require a property be in good shape. What if you are looking for speed? Private Money loans are generally much faster than a bank loan. What if your credit isn’t bank worthy?

That’s because Private Money loans are based largely on equity. The most you will get is 70% of the value of the property. If it’s worth $300,000.00 you will be able to get $210,000.00. If you want a 100% loan, Private Money will not work.

Here is an example of a Private Money Loan. The Buyer had almost all of the money to purchase a house. She needed only $75,000.00 more – but didn’t qualify for a bank loan. The purchase price was $231,000.00. She only wanted to borrower 32% of the value. That loan got done within 4 days for a quick close. She beat out other’s that put in offers for the house. She could and did quickly close and her house payment is the payment on $75,000.00.

Another example. A contractor wanted to buy a dumpy house. No bank would lend on it because it was so dilapidated. The contractor had enough for a decent down payment and proved he had enough to money fix it up and then resell. He got a Private Money loan and was able to fix up the house and pay off the loan within 4 months.

Maybe you need a Private Money Loan!

Forest Tardibuono is a CA DRE Broker with over 20 years experience in real estate and lending. His number is (707) 523-2099.

Check out our website @ www.sunpacmortgage.com/

“Like” Us on Facebook @ www.facebook.com/sunpacmortgage

Visit our Real Estate Group @ www.NorthBayPropertyPros.com

“HARD MONEY” OR “PRIVATE MONEY” LOAN REVISITED

LENDER’S VIEWPOINT

By Forest Tardibuono

There are several types of loans you can use to purchase or refinance. This applies whether you are buying a home to live in, a home to rent out, or a commercial building. They include the standard 30 year fixed rate mortgage, the government FHA/VA loans, a commercial property SBA loan, or a Private Money loan.

Private Money is borrowed from private individuals. I bet you’ve borrowed money from a relative. That was a Private Money loan, likely unsecured. It wasn’t from the bank or some other institution. Most private money lenders/investors lend money through a mortgage company (there are laws that require this). The rates and fees are higher than those you’d get from a bank or credit union that does 30 fixed rate mortgages.

Why then would anyone borrow Private Money? There are lots of reasons.

You can get a Private Money loan in spite of a foreclosure, bankruptcy or short sale!

I thought to make the above sentence read like a headline, because it should. No bank or credit union or anyone doing home loans other than Private Money will lend to someone who had a recent bankruptcy, foreclosure or short sale. Further, the property you want to borrow against may not be something a bank will lend on. Banks require a property be in good shape. What if you are looking for speed? Private Money loans are generally much faster than a bank loan. What if your credit isn’t bank worthy?

That’s because Private Money loans are based largely on equity. The most you will get is 70% of the value of the property. If it’s worth $300,000.00 you will be able to get $210,000.00. If you want a 100% loan, Private Money will not work.

Here is an example of a Private Money Loan. The Buyer had almost all of the money to purchase a house. She needed only $75,000.00 more – but didn’t qualify for a bank loan. The purchase price was $231,000.00. She only wanted to borrower 32% of the value. That loan got done within 4 days for a quick close. She beat out other’s that put in offers for the house. She could and did quickly close and her house payment is the payment on $75,000.00.

Another example. A contractor wanted to buy a dumpy house. No bank would lend on it because it was so dilapidated. The contractor had enough for a decent down payment and proved he had enough to money fix it up and then resell. He got a Private Money loan and was able to fix up the house and pay off the loan within 4 months.

Maybe you need a Private Money Loan!

Forest Tardibuono is a CA DRE Broker with over 20 years experience in real estate and lending. His number is (707) 523-2099. See website @ sunpacmortgage.com.

Sun Pacific Investor Quarterly

So much change has been wrought in the lending industry since what has been deemed the “mortgage debacle”.  With the dust somewhat settling on the new lending landscape it’s time to inform Investors, Brokers  & Borrowers of some of the regulatory changes impacting Hard Money.  These changes impact each & every one of you. I’ll see YOU on May 10th.

Investors Newsletter volume 7 issue 4

Increase your income doing hard money loans & learn more about investing safely by attending our Hard Money Seminar with local attorney as guest speaker!  5:30pm on TUESDAY, MAY 10th at the offices of Sun Pacific Mortgage – 800 Mendocino Avenue #2, Santa Rosa.  RSVP please

Unique Identifier # 289456

forest@sunpacmortgage.com

Sun Pacific Mortgage & Real Estate (707) 523-2099

800 Mendocino Avenue #2, Santa Rosa, CA 95401

www.sunpacmortgage.com

“Like” us at www.facebook.com/sunpacmortgage

Sun Pacific Investor Quarterly Volume 7 Issue 3

A Newsletter for Investors in Trust Deeds

Volume 7 Issue 3

Integrity KnowledgeHonesty April 2011

HARD MONEY INVESTOR SEMINAR

Attend this informal discussion of current regulations impacting Hard Money Investments. Tuesday – May 9th @ 5:30 pm at the offices of Sun Pacific Mortgage – 800 Mendocino Avenue #2, Santa Rosa. RSVP please to Ari, Forest or Lynn.

SPECIAL GUEST SPEAKER: Santa Rosa Attorney Max Broome will be there to participate in the discussions and answer your questions from a legal perspective.

Message from the Broker…

So much change has been wrought in the lending industry since what has been deemed the “mortgage debacle”. With the dust somewhat settling on the new lending landscape I thought it time to inform Investors of just a few of the regulatory changes impacting Hard Money. These changes impact the Borrower, the Mortgage Broker and the Investor.

PREDATORY LENDING

I have to admit that I’ve been doing these Hard Money loans for years and I thought the Feds had labeled them Predatory Loans. In really digging in to the more recent laws that apply to these loans I made an interesting discovery for myself. These loans are not called Predatory Loans because they are high interest rate and high cost loans. Investors are not predatory lenders because they make private money loans. Predatory Lending is the practice of making a loan to someone that is not in their best interest. Or making a loan to them that does not have a tangible benefit. Or giving them a loan that is not the best loan available for their borrowing profile. Or bait and switch. Or no disclosures to them. Or an onerous prepayment penalty.

The Predatory Lending Laws have as their purpose the eradication of the patterns and practices of lenders that might be deemed predatory.

I personally think it was the federal and of course overblown response to the few bad eggs who were predators with their patterns and practices as mentioned above. Those guys are likely out of business but the remaining mortgage lenders (this means you) are left with the cumbersome compliances that were designed to keep those already chased out of business from harming borrowers further.

AFTER FURTHER REVIEW…

PREDATORY LENDING

The only area I can see for improvement in my own operation is the interest rate we charge borrowers. It is usually 12%, which is not at all

predatory. What may approach predatory per the intent of the feds is that we give that rate to everyone. The practice of giving a borrower who has 50% loan to value the same rate as someone who is at 75% loan to value is borderline in my new view of what the feds are looking for. That gap magnifies when you look at ability to repay, which the feds also now mandate the lender look at.

And I mentioned at my last Seminar the fact that the feds deem the person actually putting out the money as the lender. Not the Broker. So you as the lender should be looking at your patterns and practices.

SUMMARY…

From my review of the regulations currently plaguing us, there is nothing I have seen that should stop you from making Hard Money loans.

I would suggest that the next time you get approached about doing a loan with a better loan to value or strong borrower or nicer property, that you think about the rate you will require for that loan.

Your Broker should be compelled to do that on your behalf as a pattern and practice.

Feel free to call or email me anytime with further questions you may have regarding investing in Deeds of Trust.

Best,

Forest Tardibuono

Owner/Broker

Unique Identifier # 289456

forest@sunpacmortgage.com

Sun Pacific Mortgage & Real Estate (707) 523-2099

800 Mendocino Avenue #2, Santa Rosa, CA 95401

Visit us at: www.sunpacmortgage.com

Like us at: www.facebook.com/sunpacmortgage

Homebuyers Saving Grace!

The Guy In The White Hat Comes To Homebuyers’ Rescue!

clip_image002

Ever since we opened our doors in Sonoma County in 1988, we’ve given extra care to round up people who have been “Turned Down Elsewhere?” – because of credit, income, the property or a combinations of these.

We are the local Hard Money Lender who can help rescue your deal…and get your Buyer into that Home!

Loan approval is based on just 2 criteria:

1. Good Down Payment

2. Ability to Repay

  • FAST private money purchase financing Sonoma County and contiguous Counties
  • FICO is not a factor
  • Up to 80% loan-to-value – Case by case basis
  • Loan amounts to $400,000
  • Investor and Owner Occupied financing
  • Lower rates with Good Compensating Factors– Case by case basis

SPECIAL NOTE: WE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

Here are some Hard Money Buyers we have recently rescued…

Flipper – Short Sale Purchase – 80% Loan to Value (LTV) in Santa Rosa. Loan amount $160,000 on a fixer upper. 12% interest only for 12 months.

First Time Home Buyer Purchase – FUNDED IN JUST 10 DAYS! A conventional lender denied this loan. A real estate agent sent it to Sun Pacific. 50% LTV. Loan amount $90,000 at 12% interest only for 61 months. Monthly payment of $900.

Home Purchase – In Contract – Purchase price $149,000 with loan amount of $75,000. Buyer just got a loan modification after being in foreclosure on his home. He is renting out that home and buying a different one for way less money!

CALL FOREST at 523-2099

Or email him at forest@sunpacmortgage.com

See our regularly updated website at: www.sunpacmortgage.com

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