Gallegos Mortgage Team

 

Desert Hills Labradors owned by myself Raygen Hensley, and assisted by my parents Scott and Lisa. We are a small Yellow, Black, and Chocolate English Labrador breeder in Phoenix that lives in North Phoenix.  Desert Hills Labradors reputation in the United States is for producing sound, beautiful Yellow Labrador breeder in Phoenix with wonderful temperaments.

I grew up in Desert Hills, AZ with a endless love for our cats, dogs, chickens, hamsters, guinea pigs and any other animal I could sneak into my parents house without them noticing. This love for animals and their well being that was founded in my childhood, carried over as a love for what has become my life’s work. My passion for dogs came naturally and my ability to read dogs and train, easily followed. I spent hours outside as a child with my dogs, I often fantasized as a child about becoming a Veterinarian and living on a Ranch with 100's of rescued and neglected dogs under my care. We are  Yellow, Black, and Chocolate English Labrador breeder in Phoenix  our website is www.deserthillslabradors.com please visit our calendar for available  Yellow, Black, and Chocolate English Labrador breeder in Phoenix .

 

My parents decided that labradors would be a perfect fit for our home as they had three small children and wanted a sound animal with a very loving personality that would enjoy being around us, as much as we enjoyed being around him/her! So my dad set out on a very big adventure to find our family the most perfect Chocolate Lab that we could afford! We visited many homes in search of our new family dog.  Most of the time I left disappointed, as he was never quite satisfied with the ones we were looking at.  So my mom and I decided that we were going to learn everything we could about the breed and the breed standard.  That is when I discovered I could show dogs in the ring as a Jr. Handler....I was so excited to say the least!

 

After months of searching we had finally found our perfect companion...a beautiful Chocolate Lab that we named Sienna! She was an amazing dog and I learned so much from her.  I taught her obedience and she taught me patience, I taught her how to sleep in my bed and she taught me that she could sneak out of my bed quiet as a mouse, and chew up every shoe in my bedroom in a matter of 3 hours.  But this love I had for dogs only grew and little did I know the Adventure that it would take me on for the next 10 years.

 

Yellow, Black, and Chocolate English Labrador breeder in Phoenix is a small kennel located in North Phoenix, Arizona.  We typically have 1-2 litters of chocolate; blacks and yellow Labrador puppies per year of the "English" style Labrador Retriever.

 

The focus of our breeding program is soundness, breed conformation and above all temperament. All of our dogs are registered with the AKC (American Kennel Club) and certified with the OFA Orthopedic Foundation for Animals. 

<!-- This material is non-exclusively licensed to Brian Gallegos and may not be copied, reproduced, or sold in any form whatsoever.--> Mortgage markets worsened last week as the Federal Reserve's Federal Open Market Committee suggested economic recovery may be closer than it originally expected, and that inflation may be a near-term economic concern. Although the FOMC voted to leave the Fed Funds Rate unchanged in its current range near 0.000 percent, its published comments sparked a broad-based mortgage bond selloff. Conforming mortgage rates throughout Arizona rose sharply post-FOMC, climbing by as much as 0.375%. If you've been shopping for a mortgage rate, the run-up was both untimely and unwelcome. According to Freddie Mac's weekly mortgage rate survey, for most of the year, conforming 30-year fixed rate mortgage rates had remained within a tight range near 3.90 percent for mortgage applicants willing to pay an accompanying 0.8 discount points. This week, though, Freddie Mac is expected to report average 30-year fixed rate mortgage rates well north of four percent. It would mark the highest level for the benchmark mortgage rate since mid-December of last year. There will be a lot more for rate shoppers to watch this week, too. There is a slew of housing data set for release and the heavily-anticipated HARP 2.0 Refinance program "goes live" nationwide. HARP is a government-led refinance program meant to help underwater homeowners refinance their Fannie Mae- or Freddie Mac-backed mortgages into new loans at today's low rates. The program was first launched in 2009 and helped roughly one million U.S. homeowners. HARP's newest iteration, though, provides for a more lenient underwriting process that is expected to open the program to an additional 6 million homeowners or more. Mortgage rates may rise this week as a result of HARP-based loan volume. It may also rise on strength in housing -- there are four data points due for release :

• Monday : Housing Market Index
• Tuesday : Housing Starts
• Wednesday : Existing Home Sales
• Friday : New Home Sales

As in most weeks, it's less risky to lock a mortgage rate than to float one. Mortgage rates have much room to climb but very little room to fall. If you're not yet locked, talk to your loan officer and make a plan.

I have a investor that will allow us to Refinance without appraisal.

Home Affordable Refinance Program, More commonly called HARP 2.0, the Home Affordable Refinance Program is meant to give "underwater homeowners" opportunity to refinance. With average, 30-year fixed rate mortgages still hovering near 4.000 percent, there are more than a million homeowners in Arizona and nationwide who stand to benefit from the program overhaul. To qualify for the re-released HARP program, you must meet basic criteria :

1. Your existing home loan must be guaranteed by Fannie Mae or Freddie Mac
2. Your home must be a 1- to 4-unit property
3. Borrowers must be current on their mortgage payments with no late payment in the past six months and no more than one late payment in the past 12 months.
4. NO appraisal required

Most notable about the new HARP refinance program, though, is that the government is waiving loan-to-value requirements on a HARP loans. Homeowners' participation in the program  are no longer restricted by their home's appraised value. In fact, the new HARP doesn't even require an appraisal, in most instances. With the new HARP program, underwater mortgages can be refinanced without LTV limit or penalty. According to the government's press release, pricing considerations for the new HARP program will be released on or before November 15, 2011; and lenders are expected to be offering the program as of March 15, 2012. If you think you may be eligible, first confirm that eitherFannie Mae or Freddie Mac is backing your loan. Both groups provide a simple, online lookup.

• Fannie Mae loan lookup : http://www.fanniemae.com/loanlookup/
• Freddie Mac loan lookup : https://ww3.freddiemac.com/corporate/

If your loan cannot be located on either of these two sites, your current mortgage is not backed by Fannie Mae or Freddie Mac, and is not HARP-eligible. The FHFA's official press release contains an FAQ section. In it, you'll find minimum qualification standards, as well as information related to condominiums and to mortgage insurance. The HARP program is meant to help a wide group of homeowners, but each applicant's situation is unique. For specific HARP questions, be sure to talk with a loan officer.

Beginning April 1, 2012, the FHA is once again raising mortgage insurance premiums (MIP) on its newly-insured borrowers throughout Arizona and the country. It's the FHA's fourth such increase in the last two years. Beginning April 1, 2012, upfront mortgage insurance premiums will be higher by 75 basis points, or 0.75%; and annual mortgage insurance premiums will be higher by 10 basis points per year, or 0.10%. For borrowers with a loan size of $200,000, the new MIP will add $1,500 in one-time loan costs, plus an on-going, annual $200 increase in total mortgage insurance premiums paid. All new FHA loans are subject to the increase -- purchases and refinances. The FHA is increasing its mortgage insurance premiums because, as an entity, the FHA is insuring a much larger percentage of the U.S. mortgage market than ever before. In 2006, the FHA insured 2 percent of all purchase-money mortgages. In 2011, that figure jumped to 18 percent. Unfortunately, as the FHA has insured more loans, it's number of loans in default have climbed, too, forcing the FHA to boost its reserves. Beginning April 1, 2012, the new FHA annual mortgage insurance premium schedule is as follows :

• 15-year loan term, loan-to-value > 90% : 0.60% MIP per year
• 15-year loan term, loan-to-value <= 90% : 0.35% MIP per year
• 30-year loan term, loan-to-value > 95% : 1.25% MIP per year
• 30-year loan term, loan-to-value <= 95% : 1.20% MIP per year

In order to calculate what your FHA annual mortgage insurance premium would be on a monthly basis, multiply your beginning loan size by your insurance premium in the chart above, then divide by 12. In addition, for loans over $625,500, beginning June 1, 2012, there is an additional 25 basis point increase to annual MIP. To avoid paying the new FHA mortgage insurance premiums, start your FHA mortgage application today. Existing FHA-insured homeowners will not be affected by the change. Mortgage insurance premiums will not rise for loans already made.

Are you READY to buy Home again After Foreclosure!

 

Have you lost your home to foreclosure in Arizona? Well, I've been working with peolpe that have lost their home in Arizona to Foreclosure and finding that the lenders are not reporting correctly on their credit. You as the consumer need to make sure the lender reported correctly. Here is example of that we have seen - Had a client that lost their home in 2007 to Foreclosure in Arizona, The same lender had a first and second mortgage on the property. The lender reported correctly on the first mortgage showing it was foreclosed in 2007. The same lender continued to report a 120 day late on the second mortgage for next four years. The client called the lender to have them correct the error, The lender stated they had the right to continue to report and collect the loan(They had no right). We were able to help the client write a letter to the lender, once the lender received the letter they removed all the late payments and correctly showed on their credit with a 2007 foreclosure in Arizona on the second mortgage. So the first thing you need to do is check your credit by a Mortgage Professional, If you lost your home to Foreclosure in Arizona I can review and make sure it is reported correctly.

Next big question? How long do you have to wait after you lost your home to Foreclosure in Arizona. You will have to wait 3 years from the date they foreclosed on your property. Again we have found lenders that report late payments until October 2009. After some research for the client we found that the property was Foreclosed in May 2009. Just looking at the credit report the client would have to wait until November 2012 to buy again. I was able to found the correct document and now the client can buy a home in June 2012. If you lost your home to foreclosure in Arizona. Please call me 602-692-9933 or fill out Application. 

 

When it comes to housing data, sometimes you have to look past the headlines. December's Housing Starts data offers a terrific illustration of why.

Each month, the Census Bureau tallies Housing Starts for the month prior. A "housing start" is a home on which construction has started.

The Housing Starts report is separated by property type. There is a count for single-family homes; a count for 2-4 unit homes; and a count for buildings of 5 units or more, a category including apartments and condominiums.

In December, as reported by the government, Housing Starts fell 4 percent nationwide overall. This runs contrary to recent strength in housing and the story was quickly picked up by the press :

• U.S. Housing Starts Fall More Than Forecast (BusinessWeek)
• U.S. Housing Starts Fall (MarketWatch)
• December Housing Starts Are Worse Than Expected (Fox Business)

Now, although these headlines are factually true, they're also are a little bit misleading.

Housing Starts did fall 4 percent last month but that was for all Housing Starts, across all three property types. Data like this is somewhat irrelevant to home buyers in Arizona or anywhere else nationwide.

Few buyers purchase 2-4 unit homes, and almost nobody purchases an entire apartment building. Rather, it's the Housing Starts reports' "single-family" tally that matters because that's the home type that the majority of home buyers purchase in Phoenix.

In December, for the fourth straight month, Single-Family Housing Starts increased.

Single-family housing starts climbed 4 percent last month to 470,000 units on a seasonally-adjusted, annualized basis. This is the highest number of Single-Family Housing Starts since April 2010 -- the last month of last year's home buyer tax credit.

The Single-Family Housing Starts data is the latest in a series of data that point to a housing rebound nationwide. New Home Sales, Existing Home Sales, Pending Home Sales and Homebuilder Confidence has each posted multi-month highs and all are poised for strong gains into 2012.

If you're planning to buy a home in 2012, consider buying in between now and March rather than at some point later. Home prices -- and mortgage rates- are likely to move higher.

<!-- This material is non-exclusively licensed to Brian Gallegos and may not be copied, reproduced, or sold in any form whatsoever.-->

http://www.msnbc.msn.com/id/32545640

Will your home gain value over the next 12 months? Nobody can know for sure, of course, but should recent housing trends continue, there's concrete cause for optimism.

The housing economy has suffered since 2007, knocking home values down nearly 20% nationwide. And while some areas have fared better as compared to others but, in general, home values are down. 

Mortgage rates are down, too, and that's good news for buyers in Arizona. The combination of low rates and low prices has led home affordability to an all-time high. As you'll hear in this 4-minute interview with NBC's The Today Show, carrying a mortgage costs 25% less per month as compared to just 3 years ago.

Some other notes from the interview include :

• There are more buyers out looking for homes today, which leads to more sales
• The housing market is expected to get gradually better, month-by-month, in 2012
• Foreclosures will continue to be a big part of the housing market

With housing supplies shrinking, buyers throughout Arizona may find their best "deals" today -- before the Spring Buying Season begins in February.

However, we can't forget that housing markets are local -- not national. Each town and neighborhood has its own market drivers and prices where you live may have already started to climb.

For accurate, up-to-date data on the housing market, talk with a local real estate agent. 

<!-- This material is non-exclusively licensed to Brian Gallegos and may not be copied, reproduced, or sold in any form whatsoever.-->

Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers, it may also lead to higher mortgage rates later this week.

Thursday morning, the Census Bureau will release its U.S. Retail Sales data for December. The report is expected to show an 18th consecutive monthly increase, with analysts projecting sales volume higher by 0.4 percent from November.

This would be double the increase from last month, which saw a 0.2 percent increase in Retail Sales.

The Retail Sales report tallies receipts collected by retail and food-service stores nationwide. When the sum of these receipts rise, it puts pressure on mortgage rates to do the same. The connection is straight-forward.

Retail Sales are the largest part of "consumer spending" and consumer spending accounts for the majority of the U.S. economy -- up to 70 percent, by some estimates.

As the economy goes, so go mortgage rates.

Remember: today's ultra-low mortgage rates have been partially fueled by weak economies -- both domestic and abroad -- going back 4 years. Stock markets have sold off as economies have faltered worldwide, leading investors to seek refuge in the relative safety of U.S.-backed mortgage bond market. The new-found demand for mortgage-backed bonds has helped drop mortgage rates to levels never seen in history.

When economic recovery is apparent, therefore, we should expect a mortgage rate reversal, and should expect for it to happen quickly. Stock markets should rise; bond markets should fall. Mortgage rates will climb. Rate shoppers will lose.

Last week's strong jobs report sparked hope for the U.S. economy. If Thursday Retail Sales data reveals similar strength, the risk in "floating" your mortgage rate may be too great. The safer play is to lock your rate today in Arizona.

The Retail Sales report will be released at 8:30 AM ET.

<!-- This material is non-exclusively licensed to Brian Gallegos and may not be copied, reproduced, or sold in any form whatsoever.-->

Mortgage markets improved last week, pushing mortgage rates in Arizona lower for the second straight week. Conforming fixed and adjustable-rate mortgage cut new, all-time lows, and FHA mortgage rates did the same.

In a holiday-shortened trading week, stronger-than-expected U.S. economic data and ongoing weakness within Europe drove investors into the U.S. mortgage-backed bond market. When demand for bonds is high, mortgage rates improve.

The Refi Boom continues.

Since beginning their descent last February, mortgage rates have shed 114 basis points en route to reaching 3.91%, the current, "average", 30-year fixed rate mortgage rate nationwide and a new all-time low, according to Freddie Mac and its mortgage market survey. If you're among today's home buyers or would-be refinancers, on a $200,000 mortgage, the 1.14% rate drop represents a monthly mortgage payment savings of $135 -- $1,623 per year.

Larger loans save more, smaller loans save less.

This week, with little economic news set for release, mortgage rates are expected to take their cue from the 8 Federal Reserve members scheduled to speak in public, and from whatever news may bubble up from the Eurozone.

The Federal Reserve said it will communicate its vision for the U.S. economic more openly and more often so Wall Street will be watching the Fed members' speeches this week, in search of clues about the Fed's 2012 roadmap.

For example, there has been speculation that a new round of stimulus would be introduced at the Fed's next meeting later this month. If, after listening to this week's speeches, investors sense it will happen, mortgage rates may be susceptible to an increase in Tucson and everywhere else.

We'll also be watching the Retail Sales report this week, due Thursday. Retail Sales are a reflection on consumer spending and consumer spending accounts for roughly 70% of the U.S. economy. If Retail Sales make gains, it may spark stock market gains at the expense of mortgage bonds.

This, too, would result in higher mortgage rates.

You can't time the mortgage market, but with mortgage rates this low, it's hard to go wrong. Talk with your loan officer to get a live rate quote.

<!-- This material is non-exclusively licensed to Brian Gallegos and may not be copied, reproduced, or sold in any form whatsoever.-->

<!-- This material is non-exclusively licensed to Brian Gallegos and may not be copied, reproduced, or sold in any form whatsoever.-->

With Halloween behind us, retailers are in the Holiday Spirit. Businesses know that consumers spent a median $556 on holiday gifts last year and they want this year to be just as strong.

That's why it's barely November and, already, Black Friday ads clog our mailboxes and the airwaves. Retailers want our dollars and they're offering great deals to early shoppers.

There's one discount a smart shopper should think twice, however -- the ever-present "Open A Charge Card Today And Save 15%" promotion. In the short-term, deals like this will save money. 

Over the long-term, however, opening a charge card could cost you much, much more -- especially if you plan to refinance your home or buy a new one.

Applying for a charge card can lower your credit score!  

According to the myFICO.com website, as a category, "New Credit" accounts for 10% of your 850 possible credit points, comprising the following credit traits :

• Your number of recently opened accounts
• Your number of recent credit inquiries
• Time elapsed since your recent credit inquiries
• Your proportion of new accounts to all accounts

Each trait is a negative in the FICO-scoring credit algorithm which means that, with each in-store charge card application, your credit score is likely to fall. How far your score will fall depends on the rest of your credit profile.

Meanwhile, low FICO scores correlate to higher loan fees.

Using a real-life example, assuming 20% equity in a home, for either purchase or refinance, look how loan fees for a $200,000 conforming mortgage change by FICO score :

• 740 FICO : There will be no added loan costs
• 720 FICO : You'll have a 0.250% increase in loan costs, or $500
• 700 FICO : You'll have a 0.750% increase in loan costs, or $1,500
• 680 FICO : You'll have a 1.500% increase in loan costs, or $3,000
• 660 FICO : You'll have a 2.500% increase in loan costs, or $5,000

You can see first-hand how expensive low credit score can be -- much more costly than the 15% saved at the mall. That's why people planning to refinance to today's low rates and soon-to-be Tucson homeowners, shouldn't rush to save 15% at the register. 

For people in want of a mortgage in Arizona, high FICO scores are worth protecting.