Fisher Property Enterprises, Inc.     

Fisher Property Enterprises, Inc. is a Corporation registered in the state of Hawaii.  A portion of the Company's profits will be given to charity, primarily civil, humanitarian and religious organizations that rebuild neglected parts of the communities.  This act of philanthropy not only shows that the company cares about the community, but also will be beneficial in the eyes of potential customers.  Rebuilding neglected areas of the community will not only benefit the appearance of these areas, but raise the property values as well.  The company's founder, Denean R. Ambersley, a 25 year U.S. Military Veteran, who has numerous years of project managing, personnel managing, and community development experience.  This experience provides real world knowledge, the highest ethics and values one could possess, and the discipline to 'see-it-through' that is needed for the management of this Great company.   Her education includes 6 formal years of Post Education; she graduated with a BSW and a MHS, in which she had to do 2-years of Community Services within the state of Texas, which Housing, Social, and Financial Needs were met from her department.

Our Business Background

Fisher Property Enterprise's President decided they  wanted to make a difference in Society with Real Estate Investing.  Living in over 10 different States, and 5 different Countries, housing was not easily made available to buy or sell, which caused some financial difficulties for while serving her country faithfully.  A REAL PERSON, WHO UNDERSTANDS REAL HOUSING ISSUES.

They have seen the difficulties that many families must endure in order to get affordable housing.  The company noticed the high fees and charges many lending institutions and mortgage companies charge these clients.  Fisher Property Enterprises, Inc. has been able to create a synergy between the two, providing a valuable service to the community, while reaping the rewards of hard work and dedication for Families.  

Avoiding Rate Lock Extensions

Over the past 18 months consumers have been warned that lenders are taking longer than ever to complete your loan request.  As mortgage and real estate transactions slowed, lenders big and small cut staff in order to stem losses.  This has resulted in longer approval times and slowed down the entire process.  Exacerbating the problem is a myriad of new government regulations designed specifically to slow down the transaction.  The combination of the two has resulted in costly rate lock extensions for many.  Rate lock extensions are expensive.  Most lenders will assess the borrower a minimum of 0.25 points to extend their rate lock for just 7 days.  On a $400,000 loan, that’s $1,000.  Remember, in many respects, the mortgage system is in bad shape.  Lenders will not take responsibility for delays, and will pass on the cost to you.  Here are some tips to help avoid costly extensions:  1)  Ask your loan originator to confirm at the beginning of the transaction to provide you a written list of ALL documentation you will be required to present for your loan, and work diligently to get it to them right away.  2)  Once your application and/or initial disclosure forms are provided to you, take the time to read and understand them before signing, BUT get them back to the lender as quickly as possible.  3)  When the appraiser calls to set the inspection appointment, be flexible and get it scheduled for the first available time the appraiser has.  4)  When you get the good news that it is time to schedule your final loan signing, again be flexible, and schedule it for the soonest time possible.  In many cases, you might not have a choice in delaying a few days.

Enough stress can not be put on the position lenders are taking in regards to slow transactions.  They don’t care, nor will they take responsibility.  If you the consumer want to avoid costly rate lock extensions, be proactive.  Once your rate is locked, contact your loan originator frequently through the transaction to make sure you are going to make your deadline.  Don’t ever feel you are “bothering” them.  They work for you, and should be doing all they can to avoid costing you thousands in unnecessary rate lock extension fees.

Information Provided by:  Hawaii Mortgage Company. 

All material Copyright © Hawaii Mortgage Company, Inc. & Ress No. 1, LTD and may not be reproduced without permission.

Why We Want To Help?

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Gordon testified how the Obama administration’s Home Affordable Modification Program has fallen far short of its promise to help 3 million to 4 million homeowners with loan modifications. After nine months of operation, only approximately 650,000 homeowners are now in a trial modification. However, only a fraction of those in trial modifications have received a permanent loan modification. In addition, HAMP has no provisions for principal reductions and offers no help whatsoever for the unemployed who cannot pay their loans due to the loss of their job.

Government bank bailout continues

How is it that bank profits are rising while foreclosures grow exponentially? The reason is that the government is increasingly guaranteeing bank losses due to foreclosures by reimbursing the lenders at full value for overvalued mortgages when there are defaults. This “silent bailout” continues every day even as the banks make a show of returning their Troubled Asset Relief Program funds so they can go back to paying $30-million executive bonuses.

Fannie Mae and Freddie Mac, which own or guarantee about half of the country’s mortgages, were taken over by the government in July 2008. The Treasury Department committed $400 billion in taxpayer money to fund the takeover initially. Fannie Mae and Freddie Mac are burning so much cash bailing out the lenders — $15 billion by Fannie Mae in November alone — that the Treasury is considering an infusion of another $400 billion in taxpayer funds into these entities. (New York Times, Dec. 17) Coupled with funds from the AIG and GMAC bailouts, which are being utilized to pay off lenders on foreclosed properties, it is estimated the total government lifeline to the banks to cover their losses from foreclosures could rise to $l trillion.

The effect of this continued bailout to the banks is that it actually discourages lenders from reducing the principal on mortgages whose values they inflated through their predatory lending practices. This is because they know the government will pay them full value when the borrowers default.

Goodman testified to Congress that in the second quarter of 2009, 30.5 percent of mortgage loans in bank portfolios received a principal reduction as part of a modification. However, the corresponding number for loans guaranteed by the government through Fannie Mae, Freddie Mac, Federal Housing Administration, etc., was zero.

Incredibly, while the current situation cries out for a moratorium on foreclosures and fundamental reductions in loan principals, the Obama administration and Congress have been silent in implementing these measures and have not enforced already-passed legislation which could do so.

For example, the Helping Families Stay in the Their Homes Act, passed on May 20, states that it is the sense of Congress that there should be a moratorium on foreclosures until the Treasury Department certifies that HAMP has been implemented. Clearly, the statistics cited above and testified to at the congressional hearing demonstrate that HAMP has not been fully implemented. Yet Congress and President Barack Obama have not enforced this law and implemented a moratorium.

In addition, the Fannie Mae and Freddie Mac bailout bill, the Home Economic Recovery Act passed in July 2008, provides for loan modifications and workout agreements by servicers when the net value would be greater than the value of the home in foreclosure. Why isn’t the government ordering that banks holding Fannie Mae and Freddie Mac loans reduce the principal on those loans to their real value? Instead, they are paying lenders the inflated mortgage loan amount, and then selling the homes for less than half that amount, with the taxpayers picking up the difference.

The fight against foreclosures and evictions and against the banks and government that continue to bail them out will be a critical part of the fight for jobs and economic justice as the struggle unfolds in the coming months.

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