CALIFORNIA ONLY, Full Doc, 680 FICO, NO Prepays, To $200,000 Cash Out, UP TO 15 Residential Properties on Credit Report, Bondable Condos OKAY Reserves for 6 Months PITI on each residential investment property owned. Property must be owned / seasoned 6 months at time of application to be refinanced, properties owned more than one year can gain new appraised value.

CASH OUT REFINANCE

ECONOMIC DATA / NEWS Wednesday 8/10/2009

The Conference Board's index of leading indicators increased 0.7 percent in June, its third consecutive monthly gain and the sharpest three-month rise since 2003. The index is a weighted average of 10 key variables designed to forecast economic conditions six to nine months in advance. The latest reading is a clear sign that the recession is drawing to a close.

Dismal Scientist, part of Moody’s Economy.com, identified 23 metro areas where the recession is moderating. Click here to view the list and read the article.

Existing home sales rose 3.6 percent in June, the third consecutive monthly increase and the longest string of gains since 2004. Condo sales increased by 14 percent while single-family sales gained 2.5 percent.

Last month Goldman Sachs repaid the $10 billion it received in TARP funds, and now the company has paid $1.1 billion to repurchase the stock warrants issued to the U.S. Treasury. Taxpayers made an annualized return of 23 percent. Click here to read an article from The Associated Press.

THE RECESSION IS OVER… in Canada, reports the Bank of Canada. Click here to read the article in The Globe and Mail.

Thanks for your business and have a good week.

P.S. We are still lending; now more than ever you need a commercial loan broker to get your deal done right.

Wes Lewison,

Investment Property Specialist (949) 218-4007 Direct