William Doom's Discussions

The purpose of this communication is not to alarm you or for sales but to alert you to drastic and irreversible changes currently taking place in the mortgage market. If you or anyone else you know will need mortgage financing in the next 18 months, you need to read this!?Do you understand the key factors that led to the crisis??Are you clear and confident on how to weather today?s market?If you answered ?No? to any of these questions, you must attend this exclusive Mortgage Market Meltdown session and get the tools you need to stay ahead in this volatile market. This is your chance to protect your Home and Your Future!In this FREE 20-minute presentation plus Q&A, William Doom and Jared Dutcher of Columbia Mortgage Capital will answer all your questions on the recent changes in the credit market, and provide specific strategies to give you the edge.Date(s): 9/5/2007Time: 6:30 PM to 7:30 PMRoom: Meeting Room 2Library: Federal Way Regional LibraryWe held two successful ones in Ballard and West Seattle, educational and informative. If you cannot attend I would be more than happy to send you an audio recorded CD.

If you read its not, well informed individuals make well informed choices!

ok ' since you are financial genius?s and probably predicted the Credit Crunch, you could be right and wouldn?t benefit from attending.

it is Magnolia

William DoomMortgage Planner (Purchase/Refi - Residential, Commercial, Construction)www.MyEquityPro.com1.888.271.3437 x 7AZ, WA, CA, NV, CO, NM, UT, ID, AK

Purchase the new home as Owner Occupied, in order to secure the best rate. Make sure you have a rental agreement for your current residence in place, the majority of lenders do not look favorable upon buy and holds in the current market (buy and hold meaning buying a new home and holding your current). The new home will have to pass the lenders new home purchase hold standards: Larger home, more affluent neighborhood, closer to work, ect. The new market is vicious, gone are the days of Lassie fair underwriting standards, it back to the make sense standards, if you are not working with a knowledgeable Mortgage planner the deal could fall through, even if you have the 800 credit score full doc status.Once you purchase your new home, depending on the LTV if you are 80% keep the first and take a second. Now depending on what you plan on doing with the equity there are two routes, a Home Equity Second or a Fixed second. You should also evaluate what type of mortgage your current residence is in, if you are in an ARM refinance into a fixed before you turn it into a rental, you will never obtain the fixed rate on a rental that you can on a owner occupied. If you would like to discuss strategic mortgage options feel free to contact me.I am license in majority of the sate in the U.S. and if I am not licensed in your state, I have an associate who is. Will@MyEquityPro.com1.888.271.3437 x 7

You are only going to pay capital gains if you have owned the home for less then 2 yrs. As far as two years to reinvest that is incorrect information. You can do what ever you want with the proceeds from the sale. If the home was an investment you could do a 1031 exchange which would help you avoid the cap gains tax, but that is not your situation, you may be confusing the two. You will pay your excise tax and move on after your sell. Good luck and don?t buy anything with anyone unless you are married, or have a business contract (and that doesn?t always work) if you put your name on his deed, and he defaults on payments and the house is foreclosed on both of your credits are going to be destroyed.

In February, the President signed into law the Economic Stimulus Package in an effort to revive our battered economy. I wanted to be sure you knew that the legislation is about more than just rebate checks; it can also have a positive impact on current and future homeowners.Many of your readers may not be aware of how this bill could create opportunities to save money on their home financing. Here are some of the questions I believe your readers should consider, and I would be happy to lend my experience and expertise to help explain how our community may be able to take advantage of the temporary rules created by this important legislation:NEW FHA and Conforming Loan Limits https://entp.hud.gov/idapp/html/hicostlook.cfm

Also see - http://www.zillow.com/wikipages/Stimulus-Package-and-Local-real-estate-market

I f you would like the real skiny see threadStimulus Package and affects on local real estate marketincludes a link to the new loan limits released yesterday.