California Housing Market News
Tips and news from professional Mortgage Advisor Kevin McLemore
October 24, 2007
Hello -
Take advantage of low Conforming and Jumbo rates. You should really consider refinancing now. The housing market will
continue to decline, lowering your LTV, creating a loss of equity, posing obstacles in refinancing. Contact me for a free
property value assessment. I have Stated income / Stated asset programs available..
With deteriorating home values Purchase business is increasing. Financing is available for 2nd home or investment
properties. Primary residence 100% purchase financing is available as well. Keep in mind I can provide out of State
financing..
Thanks again for all your referrals..
Sincerely,
W. Kevin McLemore
Residential and Commerical Loan Consultant
iAmerica Capital Inc
916-475-2339
888-312-0958
www.iamericacapital.com
Market / Housing News....
OTS: Further Housing Decline Likely
Office of Thrift Supervision economists see a "high" probability of continued housing market deterioration, along with rising
foreclosures and house price declines, according to the premier issue of the agency's Monthly Market Monitor. "The
probability of further deterioration in housing conditions remains high, leaving asset prices vulnerable to more declines and
credit spreads susceptible to greater widening," the OTS report says. The monthly report also seems to warn thrifts that
they could be facing a "prolonged" correction in the housing market. "Contributing to the malaise is higher mortgage rates
and tighter credit conditions as lenders, saddled with loans on balance sheets, have fewer funds to lend and less desire to
extend credit to other-than-prime borrowers,".
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