RESIDENTIAL LENDING NEWSLETTER
You are receiving this letter because you are a client of either Blackburne & Sons or C-Loans, Inc. Removal instructions are below. Today we'll talk about why residential real estate values might start to firm up a little.
Joke Du Jour
A man is struck by a bus on a busy street in New York City. He is lying near death on the sidewalk as a crowd of spectators gathers around. "A priest. Somebody get me a priest!" the man gasps. A policeman checks the crowd... "A PRIEST, PLEASE!" the dying man says again. Then out of the crowd steps a little old Jewish man of at least eighty years of age. "Mr. Policeman," says the man, "I'm not a priest. I'm not even a Catholic. But for fifty years now I'm living behind St. Elizabeth's Catholic Church on First Avenue, and every night I'm listening to the Catholic litany. Maybe I can be of some comfort to this man." The policeman agreed and brought the octogenarian over to where the dying man lay. He kneels down, leans over the injured and says in a solemn voice: "B-4. I-19. N-38. G-54. O-72..." .
Blackburne & Sons is Looking For Non-Owner-Occupied Home Loans in California. We Love Investors and Flippers.
Got a non-owner residential loan request in California? Please call me, Tim Brannan, at 916-338-3232 or email email@example.com
Blackburne & Sons has been in business for over 31 years now.
Betty Jo passed away right sudden like, and Bubba, he called 911. The 911 operator told Bubba that she would send someone out right away. "Where do you live?" asked the operator. Bubba replied, "Down 'ere at the end o' Eucalyptus Drive." The operator asked, "Can you spell that for me?" There was a long pause and finally Bubba said, "How 'bout if I drag her on over to Oak Street and you pick her up there. . . "
Why Home Values Could Start to Firm
Interest rates are obviously near all-time lows. Of course this makes it easier for home buyers to qualify.
But low interest rates have another positive effect. More and more investors are realizing that they can buy a house, fix it up, and rent it out for a respectable 3% cash-on-cash return on their money. Three percent is a pretty decent return on your money when banks are paying less than 1% on CD's and stocks only have an average dividend yield of around 1.5%.
The elderly Italian man went to his parish priest and asked if the priest would hear his confession. "Of course, my son," said the priest. "Well, Father, at the beginning of World War Two, a beautiful woman knocked on my door and asked me to hide her from the Germans. I hid her in my attic, and they never found her." "That's a wonderful thing, my son, and nothing that you need to confess," said the priest. "It's worse, Father. I was weak, and I told her that she had to pay for rent of the attic by giving me a little lovin' now and then," continued the old man. "Well, it was a very difficult time, and you took a large risk -- you would have suffered terribly at their hands if the Germans had found you hiding her. I know that God, in his wisdom and mercy, will balance the good and the evil, and judge you kindly," said the priest. "Thanks, Father," said the old man. "That's a load off of my mind. Can I ask another question?" "Of course, my son," said the priest. The old man asked, "Do I have to tell her that the war is over?"
Hungry for Commercial Loans Too
Blackburne & Sons is also looking for hard money first mortgage loans - up to $1.5 million - secured by commercial properties nationwide (not just California). Unfortunately we do not make land loans, land development loans, or construction loans. Our private money loans almost never have a prepayment penalty.
Got a residential loan request in California or a commercial loan request anywhere in the country? Please call me, Tim Brannan, at 916-338-3232 or email firstname.lastname@example.org
The next time you're bored and have nothing better to do, go to a public place, get out your cell phone, don't turn it on, but speak into it like the guy in this video. Prepare to belly-laugh.
On a Personal Note ...
This June, my husband and I took our daughter to Los Angeles for her 16th birthday. My mother and two brothers flew to Los Angeles from Idaho to spend that week with us. We spent three full days in the Disneyland and California Adventure Theme Parks and had the time of our lives. We also spent one full day just playing around at Laguna Beach and doing a little bit of shopping in all the shops along the beach. We wanted to make her 16th birthday a memorable one, and we are absolutely sure that we accomplished that goal!
Residential Rates and LTV's
Blackburne & Sons will lend up to 70% LTV on purchases, provided the buyer puts down at least 20% of the purchase price in cash, his middle credit score is at least 680, and he has the capacity to repay. The seller can carry back a second mortgage for 10% of the sales price.
We will often lend up to 60% LTV on refinances, provided the borrower's credit score is at least 680, and he has the ability to repay. The term of most of our home loans is three years.
Our interest rate will vary from 8.9% to 12.9%, depending on the safety of the deal and the desirability of the property and neighborhood. Most of our home loans will be either 9.9% or 10.9%. We charge only 2 points on home loans, and we will go down to par, if necessary, to land a very safe and desirable loan.
Got a mortgage loan request? Please call me:
NMLS - 389670
Blackburne & Sons Realty Capital Corporation
4811 Chippendale Drive, Suite 101
Sacramento, CA 95841
Phone: (916) 338-3232 x304
Fax: (916) 338-2328
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