It's a great day at Jose Perez and Associates. My name is Jose Perez, and I'm here to give you an update for the month of February. There's three topics we want to share with you today. Number one is forbearance. What you need to know, how it impacts your credit and your house. Number two, guys, home buyer, frustration, we're hearing you and what we've done is we've come up with two niches just for you to solve that issue. Number three, refinances, what you need to know when you're looking to refinance and what interest rates are doing for the rest of the year. Stay tuned for that.


What Is Forbearance?


Welcome back. So, number one, guys I want to talk to you guys about forbearance. Now, what it is, this is when the bank allows you a separate payment plan for the amount of payments you've fallen behind on your mortgage. Now it doesn't mean they forgive you for it. It means you've got your payment to make and then in addition to that, you have a separate payment for the months you've fallen behind. Now, while you're making those payments, that means you're in a forbearance plan. So a lot of people are now trying to refinance or sell their home or do different things and they're finding that that forbearance is impacting their credit. If you're one of those people that did a forbearance and are looking to find out what your options are and how this has impacted your home and how it's impacted your credit, give us a call. We'll give you a free personal consultation so you can know exactly what your status is. Now. Number two, guys, we've heard you, there's buyer frustration out there, and Joseph's going to present you guys with two niches that are really going to help you today.


New Home Builds


Hey everybody. My name is Joseph Portillo. I'm the buyer specialist here at Jose Perez and Associates, and I want to talk to you about buyer frustration. We found two niches that have helped our clients. Number one is new home builds. We've built partnerships with new home builds from LA to Palm Springs, and particularly in Whittier and in Ontario. New home builds is a great opportunity for you as a first-time buyer because you have less competition. And were you aware that with the new home build, you have a 10-year warranty that comes with the home? Also today, one in four people are working from home. That's up significantly from 6% back in 2019. That means that those folks will be upsizing to a larger home and their home would be up for sale, which is perfect for a first-time buyer.


Mortgage Rates


Number three refinances, I've realized that folks out there don't know how to shop for the best mortgage. Now, guys, this isn't like buying something on OfferUp where you see this pricing and you end up making an offer for a little bit less. You're not bargaining. What you want to do is you want to find the best possible mortgage for your family that's going to benefit you today and benefit you five years from now, 15 years from now, and even 30 years from now. You want to find the best mortgage that's going to be in alignment with your financial plans. So if your lender is not doing a total cost analysis for you, beware. We're doing that for free for our clients. If you guys are interested in finding out what's the best loan option for you, reach out to us directly. Now, interest rates really important that you know, interest rates are still low. They're hovering around 3% and we're expecting them to go a little bit higher. Look at this graph that I'm going to show you guys. Here in the second quarter of 2021, we're expecting rates to be on average 2.92, third quarter 3.02, and fourth quarter 3.07. So as you can see, interest rates are starting to go up a little bit higher, but are still are at record lows.

Now in the first week of March guys, we're going to be uploading our new Home Seller Guide and Home Buyer Guide. So I want you guys to stay tuned and make sure you download that. Until next time, please keep us in mind if you're looking to buy, sell or refinance, we are here for you.