Categories
Finance Green

North Valley Bank and Ochoa & Shehan create New Homes.

This post was published 11 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

Buy new homes in redding ca
Here’s a unique program to help people buy New Construction homes in the Redding California area. Local bankers North Valley Bank, and local builders Ochoa & Shehan have teamed up to create a new finance option for people to buy or build new homes.
Here’s the issue they address: A lot of potential buyers have had unusual conditions prevent them from getting traditional financing. NVB has developed ARM loans specific to new construction with Ochoa & Shehan that removes obstacles to good buyers who have maybe bad credit scores, or some other financial obstacle that an ordinary FHA type loan wouldn’t consider. This isn’t Sub Prime lending! While it is Creative Financing, its not the type that crashed the economy. This program is targeted for specific buyers. Those whom a smaller local bank can determine is a good risk, and who may not have any options with a big box lender. NVB is going to “portfolio” these loans, which is to say they won’t sell them in the secondary market. So they will be looking for good candidate buyers, who they expect to pay them back. Perhaps a high earner with a good job, who was foreclosed on, or had some other financial setback in this economy that was unusual. The upshot is that they can buy a high quality local home at a terrific rate. Ochoa and Shehan build excelent high quality Earth Advantage homes, and becasue they use local contractors, it’s a win-win for the local economy. Call us for more info.

(530) 255 4070
real estate in redding ca

Categories
Finance

Confessions of a Mortgage Broker

This post was published 11 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

Here’s a confessional post from a person who claims to have sold mortgages in the heat of the real estate bubble. It seems quite credible, from our experience. In the early years of the foreclosure wave, many people we met losing their homes often named firms like Countrywide for their predicament. We remember the firm’s high pressure ads and slick phone calls. Ultimately, I think many need only look in a mirror if we are playing the blame game. We all want something for nothing. That’s what put the pen in hand of this guy’s victims. From Salon, and well worth the reading:

Confessions of  a mortgage salesperson
Click above for the rest of this Salon post
Categories
Finance Politics

What the US could learn about housing from…Canada

This post was published 11 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

What if our government didn’t buy mortgages? What if we didn’t subsidize housing with mortgage interest deductions? Well, we might be more like Canada, where there was no bubble. No housing crash. No “too big to fail” bank crisis. Read this thought provoking article here, or at the image for some serious food for thought.

Categories
Finance Politics

Your chance to fix the California Budget Deficit

This post was published 11 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

Governor Brown is set today to unveil his ideas to fix our state’s rather massive budget shortfall. You don’t need to wait for his ideas, you can do it yourself over at the LA Times interactive budget balancer page. This ingenious use of web technology lets you struggle with the job of reducing costs and/or increasing revenues to balance the budget all by yourself. You’ll gain some insight as to just how much this is going to hurt.

Categories
Finance Politics

What will happen to Freddie and Fannie?

This post was published 11 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

We hear much today about the new congress wanting to turn back socialized health care. But nobody is talking much about the elephant in the livingroom. You know, the socialized mortgage lending that nearly caused a nationwide depression (and may still do so). Below, the link to is an opinion piece that concisely describes our dilemma on this third rail topic. Sadly, it seems the preferred “new” alternative is simply more of what brought the economy to it’s knees. Government guarantees which privatize profits, and socialize the risks.