Could Refinance Plan for Mortgages help the current economy?

According to unidentified members of the Obama administration,  a proposal is being considered to allow homeowners with government-backed mortgages to refinance at today's roughly 4% rates.

There are a number of proposals in the air right now including but not limited to changes to previous refinancing programs to increase the number of homeowners taking part, as well as working on a home rental program that would exist to prevent mass foreclosed homes.  

Refinancing could save close to $85 billion a year for homeowners; however, aside from the low interest rates, a large number of homeowners haven't been able to refinance their homes because they now owe more than the home is worth or their credit is poor.

These refinancing plans are merely up for discussion right now.  The changes that could and most likely would happen are dramatic and could cause an uproar with it being so close to the 2012 election.  With government-backed mortgages being at the lowest point since 2009 and the election coming up it is risky business messing with such a proposal as this.

The market won't see many economic increases before the 2012 election, and we can only hope to see a light at the end of the tunnel, after it.  What could this proposal mean if it actually happens?

People Make Mistakes...and a Mistake is a Problem that is Admitted.

We all know that we are in fact fallible humans that make mistakes.  In my opinion, a person can wrongfully do something but it becomes a mistake once it is admitted.  Admitting the mistake is the hardest part, though.  In the business world, we are working to please others in whatever the product or service category may be.  A client is a client that needs what we have to offer.  We know as business men and women that we can't guarantee 100% satisfaction though often times we claim to.  Someone, somewhere might have a problem with what we offer even if it was simply a mistake.

Admitting your mistake to a client may not ensure their business again, but it will help build the reputation your company wants and needs.  If your company is mistake prone, you don't want to use "I'm sorry" as an excuse to be lazy or unfocused.  Just as in any relationship, the best thing for your company to do, is admit fault as quickly as possible, and do your best to help the client out in any way that you can, and work to avoid making the mistake again.

It doesn't matter what the mistake is...if the client is unhappy and you want your business to succeed...then "the customer is always right" applies.  Bristol Restoration works to fit the needs of our clients 110%.  We have a tight knit family that works together to ensure the best service we possibly can.  Knowing that mistakes will occur, we restlessly work to strengthen our business practices so that we can avoid any future "mistakes".

(661) 294.1812

If Stocks Are Down...Where Should You Be Putting Your Money??

While we have seen incredible changes in the Real Estate industry over the last few years, Realtors--now is the time to push your property listings more than ever! With mortgage rates nearing their all-time lows, and stocks crashing, consumers are scrambling to save what is left of their invested money.  As a vendor for Freddie Mac ourselves, we are interested to hear that this weekend hits the lowest reported mortgage rate in 50 years!

Consumers--It is being said that mortgage rates should remain low for now, but if you are financially in the market to buy a new home and your credit is willing, then this is a great time to buy a house with that money you have pulled out from the stock market.  Also, with rates at an all time low, and you are interested in buying a house, then why not increase the mortgage by just a few more dollars a month, on that brand spankin' new home that you or your client wants, and customize it to exactly what you (or your client) has always dreamed of??

A few mornings ago, on my way to work, I was listening to the radio news as they were talking about people frantically running to hide their money in random places around the home.  Instead of hiding your money in a cereal box or in the mattress, why don't you invest it into a beautiful, brand new, all "you" home? At Bristol Restoration, we will help you find exactly what you want, and will work with your Realtor (or client) to bring a beautiful home for your family in just a few days, and just a few dollars extra.  With low rates right now, what are you waiting for??

Do you thing the mortgage rates are going to continue to decrease? Stay the same? Increase?  What do you think the crashing stock market might mean? Do you think that the combination of the two will bring a rush to the Real Estate market?

What do you think?

State of California Sues Law Firms Who Coerced Homeowners into Suing Lenders

There is no pot calling the kettle black!  The State of California took control of the kitchen and filed law suits against California Based Law Offices and Attorneys who preyed on borrowers to obtain mortgage relief.  The firms are accused of inducing struggling homeowners nationwide to pay thousands of dollars each to file mass lawsuits against their mortgage lenders.

Reuters reports that the CA attorney general filed suit against 3 law firms, 4 lawyers and 14 other companies and individuals who took advantage of unsuspecting borrowers looking for assistance with their mortgage woes. 

The California State Bar has even stepped in and seized the law practices and attorney accounts of the lawyers involved in the suit pending investigation.   Mortgage Fraud used to be a very narrow term.  Nowadays, mortgage fraud refers to anyone or any entity that tries to take advantage of our broken industry.  Tidal waves of homeowners have become victims of this term. 

Surely the plot will thicken and more disappointing news will come to light.  Bristol Restoration prides itself on completing our work with the merits of quality, integrity, and building a reputable name with our clients.  While we work within the troubled industry, we stand firm in our vow of honest, dependable service. 

-Jerry Bronstrup, President/ R.M.O

What do you think? What do you think is the biggest issue facing California Real Estate?

Need to have a house sold within a eek and it is no where near ready??

Trying to sell a foreclosed property, and you know the bathroom has some flaws? Well....

(661) 294.1812 www.bristolrestoration.com Let US fix that house into a HOME for YOU! In UNDER 7 DAYS!