Friday, January 29, 2010

Seattle Magazine Honors Dan Keller As One of Seattle Area's Top Mortgage Professionals

My #1 objective when I entered this business full-time in 2007 was to ensure that my clients and their Realtors receive nothing less than an exceptional lending experience working with me and my team. It has taken a few years to iron out some wrinkles, and wrap my hands around this ever-changing business. But in 2009, things began to click, and not only did I have the time of my life funding purchase loans,but in the December 2009 Issue of Seattle Magazine, I was honored as one of the Top Mortgage Professionals in the Seattle Area. Click on the link to see the online version of what was published - Seattle Magazine "Best of 2009" -Seattle Area's Top Mortgage Professionals

It should be noted that without the tools that my broker gave me and the patience and guideance from my loan processor (who by the way is the World's Best not Seattle's Best, the World's Best loan processor), that my learning curve would have been exponentially wider... Thanks Randy and Thank you Naomi!

I look forward to another year of getting to meet many more GREAT people!
Whew-hoooo, Cheers!

Sunday, January 24, 2010

Try To Keep A Dry Eye...

Ok, call me a wus, but if this doesn't put a tear in your eyes...
Humbly Yours,

Tuesday, January 19, 2010

You CAN Short Sale Your Home & Buy Now...

New HUD Short Sale Ruling: You CAN Short Sale Your Home And Buy Right Away...
There seems to be a lot of confusion out there about HUD's recent mortgagee letter 09-52 which provides guidance for FHA borrowers after a short sale. Basically, the mortgagee letter states that a borrower will be eligible for FHA financing immediately after the completion of a short sale provided that the borrower was current on their mortgage at the time that their short sale occurred. Please read further! The mortgagee letter also states that the borrower will not be eligible if the purpose of the short sale was to "take advantage of market conditions and purchase a similar or superior property within a reasonable commuting distance".

So...what does that mean?

Sadly, HUD will not allow us short sale our house because we are underwater and turn right around and purchase a new one in order to improve our equity position. The "reasonable commuting distance" part is the key. The spirit of this mortgagee letter is to allow the homeowner that has been RELOCATED by his/her company to another metro area to purchase a home in the new metro area after the short sale in the old metro area. Also, there is consideration for a change in family size. For example, an increase in family size that would not be manageable in the current home or empty nesters looking to downsize. Relocation to a different metro area is not required when there is a change in family size.

If you have had to short sale a property and you do not meet the guidelines above, plan on three years before you will eligible to purchase a home with FHA financing.

Please also remember that the bank that provides your FHA financing can add their own guidelines on top of the HUD guidelines. Some FHA lenders may not approve your financing after a short sale even if you meet the HUD requirements because the bank may have an overlay that is specific to that particular institution. If you are considering a short sale of your home with the intention of purchasing a new home right away, please do your homework! Get pre-approved for the new financing first and disclose everything to your loan officer. Always work with a lender that you trust or get a referral for a lender from your family or your Realtor.

Sometimes, a short sale is unavoidable. There are certainly a lot of people that have found themselves in that circumstance. Sometimes, the short sale is a financial strategy. If that's the case, please make sure you are making the most educated decision possible. For more information on short sales, loan modifications, or your mortgage, please contact me directly and I am happy to refer you to an expert that I trust and know will give you the information you need to make the most informed decision as it pertains to your mortgage. Contact Dan Keller at: or (425) 350-7136.

Sunday, January 10, 2010

FEMA Revises Flood Plain Maps For 150 Cities

The Federal Emergency Management Agency (FEMA) and the National Flood Insurance Program (NFIP) are updating flood hazard maps across the country. These new flood maps, also, known as Digital Flood Insurance Rate Maps (DFIRMs), show flood risk at a property-by-property level. Changing weather patterns, erosion, and development can affect floodplain boundaries. The NFIP is currently updating and modernizing the nation’s Rate Maps. Your home could be affected by these changes. For more information to see if your home is affected by these changes, click here, and type in your address. You may also call me for questions.

FYI – If your home falls into this new floodplain and you believe it is reported in error, the only way to contest this ruling in regards to financing or selling your home is to contact the county and request information on attaining a “Certificate of Elevation”. For more informaiton, please contact me directly and I can direct you to the right people to gather more information on the revised ruling, as well as helping you to attain flood insurance quotes. My e-mail address is