ROHNERT PARK, CA-Bay Equity Home Loans has opened a branch in Rohnert Park managed by mortgage industry veteran Tim Carroll. “With mortgage interest rates having increased recently, there has been a distinct slowdown in refinances nationwide," says Tim Carroll, branch manager at Bay Equity Home Loans in Rohnert Park
Carroll explains that Bay Equity Home Loans anticipated it would happen and “have taken the necessary steps to re-focus our core business to helping people purchase homes.”
George Adair, area manager for Bay Equity, explained some of the reasons for Bay Equity's success, "We have made a concerted effort to reach out to our community and offer programs that help people realize the dream of home ownership." Those programs include Homes for Heroes; a community minded program committed to providing substantial housing related discounts to active military personnel, veterans, police officers, fire fighters, first responders, teachers and health care professionals.
"Bay Equity is the official Homes for Heroes mortgage lender in Sonoma County and we have teamed up with several top Realtors to help those who have served their Country or their local communities, purchase a home when often times they could not afford to do so," Adair says.
In addition to Homes for Heroes, Bay Equity offers the FHA Back to Work program. "This loan program allows individuals who have suffered through an economic event that resulted in a foreclosure, short sale or bankruptcy to get back in the housing market and buy another home in one year," says Carroll. "In many cases, the waiting period to purchase a home after an event like bankruptcy or foreclosure is between two to seven years. To be able to buy another home after only 12 months is incredible.”
While Bay Equity continues to focus on the purchase market George Adair points out, "In spite of rising interest rates, we also see a lot of refinances on the horizon. We are still doing many HARP loans for underwater homeowners and are also seeing an increase in cash-out refinances now that home values are up significantly."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
