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Top Real Estate Agents in Alamo, CA
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Timothy Powers of Alamo, California Reports Mortgage Rates Shrink
Paragon Mortgage Bankers’ Timothy Powers says Alamo& Contra Costa homeowners are opting to stay in their home and pay less for it. The economy is creeping along at a snail’s pace, observes Timothy Powers. Alamo real estate values are down and sellers outnumber buyers by epic proportions. The good news is that mortgage rates are low. So low, reports Timothy Powers, that Alamo mortgage agencies are seeing a huge number of homeowners happily staying put and riding out the economic storm. There are huge financial benefits to refinancing an existing loan, says Timothy Powers. In Alamo, a homeowner who bought just a few years ago at 6% and whose credit is still intact, may refinance for around 4% (as of October 2011). That may not sound like a great percentage, however, a 2% change in interest rates can be fuel enough to refinance. Says Timothy Powers, Alamo homeowners can save enough in less than six months’ time to recover their closing cost associated with the loan refinance. Closing costs, notes Timothy Powers, are Alamo homeowner expenses to close a refinance loan. They are similar to the original purchase fees. Timothy Powers says Alamo borrowers may also save some money on the title search fee if they have the original document in hand. So how much can an owner save by refinancing? That’s a question that Timothy Powers’ Alamo-based mortgage firm is asked often. On a mortgage with a $150,000 balance, says Timothy Powers, Alamo homeowners may save around $300 per month in just interest. That amount adds up very fast and for larger loans the savings are even greater. According to Timothy Powers, many Alamo owners have jumbo loans of over $625,500 - and they have a huge savings potential. Refinancing makes sense for those seeking to pay their home off early, too, says Timothy Powers. Alamo residents who refinance for a shorter loan term may have a similar payment, yet cut many years off their loan term. An added benefit: faster equity. According to Timothy Powers, Alamo homes build equity much faster on shorter loan terms. Refinancing from a 30 year to a 15-year loan will eat at the finance costs much faster. Look to the long term, says Timothy Powers. Alamo homeowners may save tens of thousands of dollars by refinancing, especially if they opt for a shorter loan term. The National Association of Realtors® claims that in 2010 the average home was just under $180,000. With interest rates dipping below 3.75% on a 15-year loan, says Timothy Powers, Alamo mortgage brokers figure savings of close to $85,000 over the life of the loan vs. a 30-year loan at 4.375%. It makes sense to refinance for a number of reasons. Timothy Powers and his Alamo mortgage firm can guide homeowners through the complicated world of home refinancing. Timothy. Powers may be reached by calling Paragon Mortgage Bankers at (925) 855-1810 x 22 Timothy Powers earned his real estate license in 1989 after completing a BS in Business Administration from St. Mary’s College. His natural talent and passion for real estate prompted him to franchise an office of Intero Real Estate Services and later found Paragon Mortgage Bankers. Aside from his professional duties, Timothy Powers, along with his son, also donates his time and skills to a project called East Bay Foreclosure - a firm he established to aid our nation’s military that are facing eviction and foreclosure.
Local Real Estate Agent Timothy Powers Offers Foreclosure Support
East Bay Foreclosure Support’s Timothy Powers Helps Suffering Families ALAMO, California – October 12, 2011 – Timothy Powers, an Alamo real estate agent, recently announced plans for a new website that offers help to homeowners in danger of foreclosure. With two decades of experience in real estate, including three years of work with foreclosures, Alamo’s Timothy Powers founded East Bay Foreclosure Support (www.eastbayforeclosuresupport.com) to help families who have fallen on hard times. Providing resources and information, Alamo-based Timothy Powers says East Bay Foreclosure Support will help Contra Costa (Alamo) residents on active military duty, as well as families suffering from an illness. It’s a subject close to Timothy Powers’ heart, as he lost both parents, a brother, and a sister to cancer. After watching his sister struggle to keep her home while undergoing medical treatments, Alamo’s Timothy Powers felt a need to help others going through difficulties. During these tough economic times, Timothy Powers believes there are likely many other Alamo families facing foreclosure. In addition to providing foreclosure advice, Alamo’s Timothy Powers will use the website to provide links to valuable foreclosure information on the Internet. Timothy Powers’ Alamo-based company will also offer physical labor resources to assist families with moving, if necessary. One of the most valuable services resident Timothy Powers of Alamo will offer with East Bay Foreclosure Support is free legal services (supported by local attorneys who are inspired to give back). Thanks to the generosity of local attorneys that will donate free legal assistance, Timothy Powers’ Alamo-based business will be able to provide legal counseling to families in need. Timothy Powers emphasizes East Bay Foreclosure Support will advise Alamo citizens of all options. “We will empower the people we are helping with knowledge regarding loans, working with banks and trustees directly, or having our organization do this if they so desire,” Alamo’s Timothy Powers says. Working with local charities in Alamo, Timothy Powers’ company will also arrange free food and other types of assistance to local residents suffering from serious illnesses. For example, Alamo’s Timothy Powers says, charities might deliver food to the home of someone who has undergone chemo. For additional support of this mission, Timothy Powers of Alamo is considering setting up charity events that will raise money to provide valuable services to families needing it. Most importantly, Alamo’s Timothy Powers says, East Bay Foreclosure Support will provide emotional support, including counseling services as needed. Just knowing someone is there, Timothy Powers of Alamo believes, can make a big difference for a family who feels alone. Currently residing in the California community of Alamo, Timothy Powers was born and raised in Kailua, Hawaii, and received his bachelor’s degree from St. Mary’s College. Licensed in real estate since 1989, Timothy Powers founded Alamo-based Paragon Mortgage Bankers, Inc. in 1996. In 2005, he opened an Intero Real Estate Services franchise in Alamo. For the past three years, he has specialized in foreclosures, prompting him to begin East Bay Foreclosure Support in order to help others.