ePrequal.com, the revolutionary home buyer pre-approval system developed by Dave Van Waldick is about to be released with a fresh new look and feel.
Once again, home buyers, Realtors and Loan Officers will be able to get buyuers pre-approved to buy a home online in just a few shot minutes. They simply go to the short interview screen, answer the qustions to the best of their knwwledge, submit the request to our automate underwriting system "AUS" and they recieve a pre-approval back within 1 minute. If they are approved they receive a high value report including a Preapproval Certificate, a detailed Financial Summary of the transaction, an (Optional) Creit Report with Scores, and more. All this for FREE! In addition to the home buuyer applicant receiving thier pre-approval, any designated Realto, Loan Officer of other affilate designated by the buyer/agent will immediately be notriifed of the preapproval and recieve the information relavant to thier need to know.
Friday, September 18, 2009
Friday, August 28, 2009
Home Owners For Hope Foundation
Dave Van Waldick recently started a non-profit organization called Homeowners For Hope Foundation, to help voice the frustrations of millions of Americans at risk of foreclosure in the next 6-12 months. This after the government gave $120 BILLION dollars to the 4 major banks (B of A, Wells Fargo, Chase, and Citi) to help homeowners, the banks continue to ignore, confuse, and intimidate homeowners so they can be more profitable.
Dave recently organized and led a home owner support rally in downtown San Diego in front of Chase Bank. With supporters holding signs and walking in demonstration they were able to attract local news Channels 10 and 4 for interviews. Channel 10 news anchor Steve Fiorini and his crew spend almost an hour interviewing the H4H.org group, as well as noontime pedestrians and homeowners who have been foreclosed on. We thank the news stations for the coverage and support of millions of hard working taxpayers who only want to prevent losing their homes to foreclosure and move on with taking care of their families and re-gaining financial stabilty.
Dave recently organized and led a home owner support rally in downtown San Diego in front of Chase Bank. With supporters holding signs and walking in demonstration they were able to attract local news Channels 10 and 4 for interviews. Channel 10 news anchor Steve Fiorini and his crew spend almost an hour interviewing the H4H.org group, as well as noontime pedestrians and homeowners who have been foreclosed on. We thank the news stations for the coverage and support of millions of hard working taxpayers who only want to prevent losing their homes to foreclosure and move on with taking care of their families and re-gaining financial stabilty.
Thursday, August 27, 2009
Why Aren’t Lenders Doing More Loan Modifications?
What type of help can be expected from the lenders and servicers?
Typically, when a borrower falls behind on a mortgage, there are few programs available to help them get current. Refinances are generally out of the question, and bankruptcy is not a viable option for most people. What can homeowners then expect from the Servicer?
Read more here: http://tinyurl.com/nc6kew
Typically, when a borrower falls behind on a mortgage, there are few programs available to help them get current. Refinances are generally out of the question, and bankruptcy is not a viable option for most people. What can homeowners then expect from the Servicer?
Read more here: http://tinyurl.com/nc6kew
Monday, March 9, 2009
First Time Homebuyer Tax Credit
HOUSING AND ECONOMIC RECOVERY ACT OF 2008
The Treasury Department has moved at record speed to implement one piece of the new American Recovery and Reinvestment Act of 2009 Act aka the stimulus act.
The Department and the Internal Revenue Service which will manage it announced on Wednesday, February 25, that forms and regulations are already in place for homebuyers who wish to claim the first-time credit enabled under the act.
The credit is available to homebuyers who purchase a home before December 1 of this year. In an effort to make the effects of the credit felt quickly in the economy, homebuyers can claim the credit either on their 2009 tax return or immediately on the 2008 return due in April.
The Treasury Department has moved at record speed to implement one piece of the new American Recovery and Reinvestment Act of 2009 Act aka the stimulus act.
The Department and the Internal Revenue Service which will manage it announced on Wednesday, February 25, that forms and regulations are already in place for homebuyers who wish to claim the first-time credit enabled under the act.
The credit is available to homebuyers who purchase a home before December 1 of this year. In an effort to make the effects of the credit felt quickly in the economy, homebuyers can claim the credit either on their 2009 tax return or immediately on the 2008 return due in April.
Tuesday, February 3, 2009
Think like an Investor! "Look where the puck is going to be."
Refinance now, or wait for the perfect rate?
People ask a lot these days what the best refinance rate is they can get. And, will the rates get lower? My crystal ball is no clearer than anyone else’s. One of my mentors at Wells Fargo Bank years ago claimed, “The best predictor of where interest rates will be is where they are right now”. True as it may be, it doesn't answer our question. Financial theory also proposes that market prices reflect all currently known information. As borrowers and investors in real estate, we must then make assumptions about what the future holds.
People ask a lot these days what the best refinance rate is they can get. And, will the rates get lower? My crystal ball is no clearer than anyone else’s. One of my mentors at Wells Fargo Bank years ago claimed, “The best predictor of where interest rates will be is where they are right now”. True as it may be, it doesn't answer our question. Financial theory also proposes that market prices reflect all currently known information. As borrowers and investors in real estate, we must then make assumptions about what the future holds.
Tuesday, January 13, 2009
Fix our Mortgage Credit Now!
Proposal for Housing Market Stimulus via a mortgage "Credit Moratorium"...
Dave Van Waldick, a mortgage and real estate industry veteran, has proposed a mortgage credit moratorium platform that ensures a sorely needed short term stimulus to the housing market. His proposal has been submitted to a local Congressman, as well as mortgage and housing industry participants and advocates. His proposal below, summarizes his belief that as many as 2-3 million potential home buyers could re-enter the housing market in a responsible manner within 6-24 months without having to wait 3-5 years as has been suggested by HUD and FNMA in recent undwerwriting changes.
"As a 25 year participant of the mortgage industry, and 18 year owner of a residential brokerage, Western Realty Finance, I have provided thousands of mortgage loans to home owners over the past 18 years. As such I am acutely familiar with the virtual destruction of much of the housing and mortgage markets. We have watched intently for the past 3 years as housing sales have collapsed, and contributed significantly to the broader economic demise of the national economy and the world wide recession.
We have watched closely the news coverage as both industry and national political figures wrestle with the problems and propose solutions. Arguably, no one really knows how to fix this in a clear and meaningful manner. Fiscal and monetary stimulus is the traditional macro-economic tools employed by the Federal Reserve, the Treasury, and Congress to manage the economic cycles. This one has us all largely confused as it is so closely tied to consumer behavior that has been directly impacted by rapidly declining home equity and the multi trillion dollar loss of real wealth.
The proposal has the potential of quickly and significantly increasing housing sales by as many as two million units or more, and can benefit industry participants without being mired in mortgage industry complexity. It is relatively straight forward and has an immediate cause and effect to stimulus home buying. It is clear, simple, and relatively low cost.
I propose a “Credit Moratorium” for would be owners who’s credit and home buying ability has been impaired by mortgage late payments and/or short sale and foreclosure actions during the period between 2007 and 2009. Essentially, set back the credit clock for homeowners who have experienced mortgage delinquencies, and/or foreclosures due to market circumstances largely beyond their ultimate control. These proven buyers can then more readily become homeowners again, as long as their overall consumer credit is current, and they have the verifiable income and assets to buy a home that fits their budget. This has a huge beneficial impact on millions of homeowners who are locked out of the market for 3-5 years due to unfair current credit guidelines regarding mortgage foreclosures and short sales in this unprecedented time. It has a host of benefits, and is easily and inexpensively implemented by federal mandate. The national credit repositories would, within approved guidelines, restore mortgage late reporting to zero or no more than a minimal 30 days late, between 2007-2009.
I believe this to be worthy of federal level consideration and would certainly be a strong beneficial position and solution for the housing sector and all it’s the interested constituents and parties. This may be one of the most powerful consumer demand side tools available, at a minimal cost and could be quickly and clearly implemented. "
David Van Waldick,
President
Western Real Finance
760.599.1261
email: Dave@wrfco.com
Dave Van Waldick, a mortgage and real estate industry veteran, has proposed a mortgage credit moratorium platform that ensures a sorely needed short term stimulus to the housing market. His proposal has been submitted to a local Congressman, as well as mortgage and housing industry participants and advocates. His proposal below, summarizes his belief that as many as 2-3 million potential home buyers could re-enter the housing market in a responsible manner within 6-24 months without having to wait 3-5 years as has been suggested by HUD and FNMA in recent undwerwriting changes.
"As a 25 year participant of the mortgage industry, and 18 year owner of a residential brokerage, Western Realty Finance, I have provided thousands of mortgage loans to home owners over the past 18 years. As such I am acutely familiar with the virtual destruction of much of the housing and mortgage markets. We have watched intently for the past 3 years as housing sales have collapsed, and contributed significantly to the broader economic demise of the national economy and the world wide recession.
We have watched closely the news coverage as both industry and national political figures wrestle with the problems and propose solutions. Arguably, no one really knows how to fix this in a clear and meaningful manner. Fiscal and monetary stimulus is the traditional macro-economic tools employed by the Federal Reserve, the Treasury, and Congress to manage the economic cycles. This one has us all largely confused as it is so closely tied to consumer behavior that has been directly impacted by rapidly declining home equity and the multi trillion dollar loss of real wealth.
The proposal has the potential of quickly and significantly increasing housing sales by as many as two million units or more, and can benefit industry participants without being mired in mortgage industry complexity. It is relatively straight forward and has an immediate cause and effect to stimulus home buying. It is clear, simple, and relatively low cost.
I propose a “Credit Moratorium” for would be owners who’s credit and home buying ability has been impaired by mortgage late payments and/or short sale and foreclosure actions during the period between 2007 and 2009. Essentially, set back the credit clock for homeowners who have experienced mortgage delinquencies, and/or foreclosures due to market circumstances largely beyond their ultimate control. These proven buyers can then more readily become homeowners again, as long as their overall consumer credit is current, and they have the verifiable income and assets to buy a home that fits their budget. This has a huge beneficial impact on millions of homeowners who are locked out of the market for 3-5 years due to unfair current credit guidelines regarding mortgage foreclosures and short sales in this unprecedented time. It has a host of benefits, and is easily and inexpensively implemented by federal mandate. The national credit repositories would, within approved guidelines, restore mortgage late reporting to zero or no more than a minimal 30 days late, between 2007-2009.
I believe this to be worthy of federal level consideration and would certainly be a strong beneficial position and solution for the housing sector and all it’s the interested constituents and parties. This may be one of the most powerful consumer demand side tools available, at a minimal cost and could be quickly and clearly implemented. "
David Van Waldick,
President
Western Real Finance
760.599.1261
email: Dave@wrfco.com
Monday, January 12, 2009
First Time Home Buyer Tax Credit
First Time Home Buyers are eligible for a $7,500 Tax Credit
What is the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
How do I claim the tax credit?
Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. No other applications or forms are required. No pre-approval is necessary; however, prospective home buyers will want to be sure they qualify for the credit under the income limits and first-time home buyer tests.
What types of homes will qualify for the tax credit?
Any home purchased by an eligible first-time home buyer will qualify for the credit, provided that the home will be used as a principal residence and the buyer has not owned a home in the previous three years. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats.
For more information.. www.federalhousingtaxcredit.com
What is the definition of a first-time home buyer?
The law defines "first-time home buyer" as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. For example, if you have not owned a home in the past three years but your spouse has owned a principal residence, neither you nor your spouse qualifies for the first-time home buyer tax credit. Ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.
How do I claim the tax credit?
Participating in the tax credit program is easy. You claim the tax credit on your federal income tax return. No other applications or forms are required. No pre-approval is necessary; however, prospective home buyers will want to be sure they qualify for the credit under the income limits and first-time home buyer tests.
What types of homes will qualify for the tax credit?
Any home purchased by an eligible first-time home buyer will qualify for the credit, provided that the home will be used as a principal residence and the buyer has not owned a home in the previous three years. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats.
For more information.. www.federalhousingtaxcredit.com
Tuesday, January 6, 2009
Prequalify to Buy a Home Instantly Online 24/7
WRFCO, Interactive launches ePrequal.com, instant mortgage Prequalifying service for home buyers and agents...
Home Buyers, Real Estate Agents, Loan Officers, and Affinity Groups, will now have Internet access to powerful loan qualifying and real estate closing services... Carlsbad, Ca. --WRFCO, Interactive an innovative developer of internet based mortgage and real estate business development tools and technology, and provider of mortgage and real estate brokerage services and announced the release of their much awaited Internet based service ePrequal.com. www.ePrequal.com ePrequal is a mortgage pre-qualifying and real estate transaction analysis tool. Designed by professionals for professionals and home buyers.
Developed by field experienced experts for today’s fast paced E-commerce real estate and lending environment. It is for closing agents (realtors, loan officers, attorneys, financial advisors, etc.) to provide home buyers immediate knowledge on how to how to get to the closing table and what to expect when they get there. It is an Internet delivered, interactive service that provides consumers and their sales agents immediate answers when considering mortgage options and buying decisons. "It’s like having immediate access to an experienced loan officer, an underwriter, at your fingertips". The agent and consumer are afforded an opportunity to make early informed decisions, in a low stress environment with no sales or closing pressure, either at their home or the agents office where questions can be asked and answered in short order. The service analyzes the buyers loan needs and attempts to match then with the best overall loan options from multiple available direct lenders nationwide.
The exclusive service will extend ePrequal.com’s unique mortgage and real estate related services to consumer and business subscribers. Sales Agents or consumers fill out an easy, secure, online interview form and their secure profiles are analyzed for prequalification and loan choices, and the results are returned to them immediately for further action. It also offers an industry unique warranty for re-imbursement of up to $1,000 to the home buyers for out of pocket expenses such as appraisals, inspections, credit reports, etc., in the event they are unable to obtain credit within 90 days. ePrequal.com was developed by WRFCO, Interactive, an Internet marketing company dedicated to empowering home buyers and real estate and mortgage industry professionals in identifying, negotiating, financing, and closing the residential real estate transaction. ePrequal.com offers an integrated suite of Web-based tools, including SmartAnalyzer, RealCert, SureClose, QuikUDW, SmartQualifyer, SmartCloose, SmartCloseStatements, and QuikApprove. These tools combine to make ePrequal.com a valuable service for consumers as well as real estate and mortgage industry professionals nationwide.
Developed by field experienced experts for today’s fast paced E-commerce real estate and lending environment. It is for closing agents (realtors, loan officers, attorneys, financial advisors, etc.) to provide home buyers immediate knowledge on how to how to get to the closing table and what to expect when they get there. It is an Internet delivered, interactive service that provides consumers and their sales agents immediate answers when considering mortgage options and buying decisons. "It’s like having immediate access to an experienced loan officer, an underwriter, at your fingertips". The agent and consumer are afforded an opportunity to make early informed decisions, in a low stress environment with no sales or closing pressure, either at their home or the agents office where questions can be asked and answered in short order. The service analyzes the buyers loan needs and attempts to match then with the best overall loan options from multiple available direct lenders nationwide.
The exclusive service will extend ePrequal.com’s unique mortgage and real estate related services to consumer and business subscribers. Sales Agents or consumers fill out an easy, secure, online interview form and their secure profiles are analyzed for prequalification and loan choices, and the results are returned to them immediately for further action. It also offers an industry unique warranty for re-imbursement of up to $1,000 to the home buyers for out of pocket expenses such as appraisals, inspections, credit reports, etc., in the event they are unable to obtain credit within 90 days. ePrequal.com was developed by WRFCO, Interactive, an Internet marketing company dedicated to empowering home buyers and real estate and mortgage industry professionals in identifying, negotiating, financing, and closing the residential real estate transaction. ePrequal.com offers an integrated suite of Web-based tools, including SmartAnalyzer, RealCert, SureClose, QuikUDW, SmartQualifyer, SmartCloose, SmartCloseStatements, and QuikApprove. These tools combine to make ePrequal.com a valuable service for consumers as well as real estate and mortgage industry professionals nationwide.
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