Roseville Loan Guy » Announcements

My gift to you: The Science Of Getting Rich

Greg Cowart — Fri, 20 Jan 2012 22:55:50 +0000

Happy Friday everyone! I just pulled out one of my favorite books, a century-old manuscript that is both the predecessor and influence for some of the most read books of the last 100 years, such as ‘Think & Grow Rich’ (1937) and ‘The Secret’ (2006), and re-read it. ‘The Science of Getting Rich’ by Wallace D Wattles was written way back in 1910 but the methods inside still hold true today… And I want to share it with you.

It’s a pretty quick read but it can (and probably will if you are like me) change your life. It’s not just about becoming wealthy monitarily, although you certianly will if you totally buy in, but about inner, full personal development; holistically.

Just click on the cover of the book for the FREE e-book download. I have obtained permission to share this with everyone and the license in this version of the book allows you to share it with anyone you would like as well!

(There is also a newer, slightly updated, version of the book that I do not have permission to put on my website but I can give it to you, just give me a call or e-mail and I’ll get you a copy right away)

Happy Thanksgiving!

Greg Cowart — Thu, 24 Nov 2011 17:37:06 +0000

Successful Thinkers Founder on Sacramento TV

Greg Cowart — Wed, 15 Jun 2011 01:00:06 +0000

A lot of you know that I am very happy, and now even proud, about my experience with Successful Thinkers. Here is the group’s (can we call it a group?) founder, Jim Bellacera, on News 10′s ‘Sacramento & Friends’ this morning…

Moving on, for the better!

Greg Cowart — Tue, 12 Apr 2011 19:24:45 +0000

Some of you may already know, but now that it is official I wanted to make an little announcement. As of today I am moving my real estate finance business over to a new company….

After 15 years in the real estate and lending business, I recently moved to expand my horizons with a company that I feel will allow me to offer my clients and partners even better service, lower rates, as well as quicker and easier closings going forward. Although my address has changed, my goal of providing you with excellent service has not.

In making my decision to move, I needed to make sure that my new company would be able to offer everything that Comstock could, and more, and I’ve found the best possible situation here at Innerwork Mortgage in Roseville. I can still offer great programs like CalHFA’s CHDAP (and other CalHFA programs), the 3% grant from the NHF Platinum Program DPA (Restore Homeownership Program), Mortgage Credit Certificates (MCCs), conventional, FHA, VA, USDA financing, and more. Innerwork’s banking platform is built for speed and efficiency and fast closings are the norm.

My new office is up and running at full speed and I am ready to assist all of my clients and partners with any sort of real estate financing needs. Please keep this new e-mail address for future records and give me a call/e-mail any time. I’d love to talk to you about the exciting new things that are happening at Innerwork Mortgage!

Sincerely,
Greg Cowart

P.S. I also want to take this opportunity to thank Comstock Mortgage for the opportunity they gave me for the last two+ years.

I am pleased to announce a new Down Payment Assistance Grant Program being offered by Comstock Mortgage

Greg Cowart — Wed, 26 Jan 2011 09:14:39 +0000

I am very pleased to announce a new Down Payment Assistance Grant Program being offered by Comstock Mortgage. It is our Return to Homeownership Program and, as opposed to many community-lending products from agencies like SHRA and CalHFA this grant is not only for first time homebuyers and is actually a grant, not a 2nd mortgage or anything of the sort. It’s really free money!

This loan is originated, underwritten, and funded within Comstock Mortgage, with underwriting/docs/funding all in our Sacramento home office. There are no outside agencies providing overlays, restrictions, or time delays to the purchase process. It really is THAT simple…

Of course there are some rules and not every buyer or property will qualify. Some of the pertinent features of the loan are:

** Loan
- FHA 30–year fixed rate loan only (no 203K)
- Interest rate is determined daily, currently 5.5%

** Grant
- 3% of total loan amount
- Proceeds can be used for:

down payment
closing costs
prepaid items
earnest money

- Not a 2^ndlien: Grant does not need to be calculated into the loan calculation in any way

- No monthly payment: Since it’s not a loan there is no monthly payments and the grant does not have to be paid back

**Borrower Eligibility
- Income limits ( Sacramento, El Dorado, Placer counties $87,720.00)
- Buyer does not have to be a 1st time homebuyer

**Properties Allowed

- Owner occupied primary residence in California
- Single Family Residences, FHA approved Condos, Planned Unit Developments (PUD’s)

**Properties Not Allowed
- 2-4 Units
- Rental Homes
- Co-ops
- Investment Properties
- Recreational, vacation, or second homes
- Manufactured Housing

**Underwriting

- Underwritten by Comstock Mortgage Underwriting Staff
- Run through FNMA Desktop Originator Automated Underwriting
- Minimum FICO score of 640
- Seller paid closing costs up to 6% to cover normal and customary fees

Please call me with any questions…

-Greg

Comstock Mortgage is now fully VA approved!

Greg Cowart — Tue, 25 Jan 2011 19:21:27 +0000

Hello everyone,

For years we’ve been serving the greater Sacramento area real estate world in the best way any company can, with all of the products and tools anyone would possibly need to obtain the best possible financing for their homes. But we still have to act as broker for a few loan products that we were not able to do in-house. This is not a problem, it’s the same issue every mortgage broker has to face on every one of their loans, but we as a locally-owned mortgage banker, do not have to deal with on the vast majority of ours. One exception was VA financing. A great product that we do a lot of for our clients, but one we had to broker to another bank to close. Taking the control of turntimes, underwriting, and closing out of our hands.

In 2010 Comstock Mortgage submitted our application for authority to close VA Loan “in-house”. After a long awaited decision, we have finally received the news that our VA application has been APPROVED. What a great way to start 2011!!!!

Now we can turn our in-house underwriting, docs, and closing, 24 hour turntimes, as well as all the other benefits of closing loans in house that we already provide to the real estate world for Conventional, FHA, USDA/Rural, and other in-house products to VA buyers as well. All the details are just now being rolled out and we should have the Comstock Mortgage VA financing available very soon!

I’ll be keeping an eye out to see (make sure) this product can be combined with our ‘Return To Homeownership’ Down Payment Assistance Grant program, as I expect it will…

-Greg

Happy Holidays!

Greg Cowart — Wed, 22 Dec 2010 18:39:59 +0000

Happy Holidays to all of our friends and readers from Greg and Comstock Mortgage!

Veterans Day

Greg Cowart — Thu, 11 Nov 2010 21:15:03 +0000

First proclaimed as Armistice Day by Woodrow Wilson on November 11, 1918, by saying “To us in America, the reflections of Armistice Day will be filled with lots of pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it as freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations.”

Then in 1953, an Emporia, Kansas shoe store owner named Alfred King had the idea to expand Armistice Day to celebrate all veterans, not just those who served in World War I. He began a campaign to turn Armistice Day into all Veterans Day. With the help of U.S. Representative Ed Rees, a bill for the holiday was pushed through Congress, and on May 26, 1954, President Dwight D. Eisenhower signed the bill into law, officially changing Armistice Day to Veterans Day.

Today, this day is to honor the more than 25 million men and women who have served and who may still serve in the military services of the United States. Not a day goes past that I don’t think about the sacrifice made by the countless people who have served in our military. For those of you that have served our country, I thank you. For those of you that have had families or friends who served our country, I thank you for the sacrifice and support that you provided to those that served.

Take a moment today to remember those that served and sacrificed for our country. Take the time to thank the next service man or woman you see in uniform for the service they have given to their country. We all cherish our freedom and without the sacrifice of these great men and women we would likely be unable to enjoy the freedom we all have today.

Short Sale Fraud is a big problem, getting bigger…

Greg Cowart — Wed, 15 Sep 2010 00:44:50 +0000

According to the commissioner of the State Of California Department Of Real Estate (DRE), Short Sale fraud is on the rise. In a recently issued letter the DRE reached out to local mortgage lenders to advise them of the problem, as well as for help. Even though there are many ways short sale’s can be used for fraud they specifically outlined the most common ploys. Namely “short sale flipping” where real estate agents and other, non-licensed individuals, defraud lenders as to the value of a listed short sale property, withholding higher offers that came in from prospective buyers and then selling the property to a straw buyer working with the Realtor, only to sell the property at a profit the day after buying the property. Not only are these agents making a killing doing this (they make a profit on the sale as well as a LARGE commission on BOTH transactions) it is hurting well intentioned buyer in the process.

There are a number of other methods being used for this fraud but that is the most prominent. This is not only bad for the lenders – something the public is probably apathetic to – but to you and me every day. As it usually does, greed always has a victim, even if it’s not easily noticed. If you’ve been out there trying to get into your first home for months with no luck, only to see a home you made an offer on for sale again a month or two later, there’s a good chance you are victim to this fraud, albeit indirectly. I’m sure you can see the problem this can cause.

What can we do about this? The DRE asks that we (Realtors, mortgage professionals, and you) report possible fraud directly to them. Especially unlicensed induviduals perpetrating this fraud, something that is extreemely damaging to the consumer and the industry alike. Is it worth the time? I say yes. In a time that ethics is SOOOO imporant in real estate and lending we need to do all we can to stop fraud. It’s important to all of us, even if we don’t think about it every day.

~ Greg

Extension of tax credit and flood insurance program finally signed…

Greg Cowart — Tue, 06 Jul 2010 20:38:08 +0000

The mortgage industry can feel a little more patriotic this 4th of July holiday now that President Obama has signed two bills to re-start the flood insurance program and extend the closing deadline for homebuyers seeking a tax credit.

The National Flood Insurance Program has been shut down for the past month (as it had expired earlier in the year and congress had not managed to get an extension through yet), which has tied up mortgage closings in many flood-prone areas. The bill – H.R. 5569 - President Barrack Obama signed authorizes FEMA to approve new flood insurance policies through September 30. It also allows FEMA to approve flood insurance applications and renewals that have been pending since the June 1 shutdown.

The second bill – H.R. 5623 - extends the closing deadline for the homebuyer’s tax credit program by three months to September 30. Originally, homebuyers who signed a sales contract by April 30 had until June 30 to close and qualify for the tax credit. But a tax credit-driven jump in home sales caused closing delays. The National Association of Realtors warned that up to 180,000 buyers could miss the deadline and lose their tax credit — $8,500 for first time homebuyers and $6,500 for repeat buyers. Real Estate agents noted that changes in mortgage settlement rules and lapses in the flood insurance program and Rural Housing Service single-family loan program contributed to closing delays.