Frank Yan of Sacramento on Mortgage Rates Faces North in the New Year

Frank Yan of Sacramento posts a related article: Information Thats Hits Us Where We Live

Frank Yan of Sacramento says thate mortgage rates faces North for the begining of 2014. Freddie Mac’s 30 year fixed-rate mortgage climbing to 4.53% and the 15 year fixed-rate mortgage climbing to 3.55%. Frank Nothaft, Freddie Mac’s chief economist, stated “rising consumer confidence a strong showing for home prices in the most recent S&P/ Case-Schiller Indices, and a slight gain in pending home sales for November 2013” as reasons for the rate increase. He added that these indicators are all “signs of a stronger economic recovery”

Frank Yan of Sacramento on Americans Still Thankful for Home Ownership

Frank Yan of Sacramento posts an article from realtormag.org

The recession hasn’t shaken Americansconfidence in home ownership, according to a new survey of 1,000 adults nationwide by NeighborWorks America.

About two-thirds of survey respondents say their opinion on home ownership has not changed over the past five years. Eighty-eight percent say owning a home is an important element of their “American Dream.

“Although the housing market took one of the largest hits ever, with home prices falling nationally and foreclosures rising to more than one million homes annually, home ownership remains a goal many want to achieve,says Eileen Fitzgerald, CEO of NeighborWorks America. “But it’s important to also note that the poll also underscores that we need to have quality and affordable rental homes available for those people who simply prefer to rent.”

The majority of renters and home owners surveyed say they believe the home buying process is complicated. They attribute the major obstacles to personal finance issues, such as lack of job security or not having enough money for a down payment. One in four surveyed say they have no familiarity with the mortgage products available.

Still, about half of those surveyed say they feel more prepared today than five years ago to buy a home. Forty percent, though, say they are less prepared.

“These results tell us that most consumers believe that they know when the time is right for them to buy a home and feel strongly that home ownership is important but that their personal situation may have been affected in the past five years and is holding them back from pursuing home ownership,Fitzgerald says.

Source: “Consumers View on Homeownership Remains Optimistic," National Mortgage News

Frank Yan of Sacramento on Who Stole My Identity

Seriously, that’s the question Frank Yan is asking today. During Frank’s application for a mortgage home loan, Frank received a copy of his credit report and discovered that in 2005, someone used my name and identity to rack up just over $2K in debt that Frank was not responsible for. So Frank began to investigate who possibly used his identity and phoned the Sacramento police department, filed fraud reports, and tried to figure out how to get things resolved. Apparently it took Frank a very long time, which isn’t what he wanted to hear.

When Frank first discovered this fraud took place, Frank was highly so upset. Someone out there has a lot of personal information about him and can use that to gain credit in his name.


Frank had more phone calls to make during that time to clear his name for the debt that was incurred by someone else. He needed to go downtown to the Sacramento police station with everything that proves who Frank Yan was.

As this mess whirled around him, Frank really wanted to just felt going to find the person that stole his identity. Frank didn’t blow all this all out of proportion. It could have been a lot worse for him. And fortunately he found out it did happen, otherwise he might have not known for a very long time.


Make sure you keep your identity safe. Frank thought he was being careful, shredding all his important financial information, forwarding mail when he moved, etc. The Sacramento police figured that someone stole Frank’s social number off a credit application or something as there was no document that was actually stolen from him. Today, Frank has protected his credit as he had experienced identity theft once. It’s important that we all monitor our credit on a 6 months basis, as our credit scores are our life line to securing credit lines for real estate mortgage loans, car loans, education loans, and even applying for a mobile phone. By protecting your credit, this will prevent any fraud if someone trys to use it.