You are receiving this letter because you are a client of either Blackburne & Sons or C-Loans, Inc. Removal instructions are below. Today we'll talk about refinance risk.

Joke Du Jour

It seems that during that Battle of the Alamo, the commander of the makeshift fort put his wife, of all people, on the battle line. Not surprisingly, she was shot by the enemy. The bullet shattered her patella, and she had to be removed from the front line. After the fighting was over, she divorced her husband and sued him for ... are you ready for a real groaner? ... Alamo knee.

Blackburne & Sons is Looking For Non-Owner-Occupied Home Loans in California. We Love Investors and Flippers.

Got a non-owner residential loan request in California? Please call me, Tim Brannan, at 916-338-3232 or email timb@blackburne.com

Blackburne & Sons has been in business for over 31 years now.

Contagion is a Rivoting Film

This is George Blackburne III, the old man, writing to you about the new movie, Contagion. The movie was extremely believable and quite disturbing. The disease in the movie was transmitted by touch, so if you went outside, you were in serious danger of touching an infected surface and contracting the virus. After the movie, my wife and I vowed to stockpile a six-month's supply of food.

Refinance Risk

Refinance risk is the risk that when your balloon payment comes due, every lender in the country will be too frightened to refinance it. This could occur during a financial meltdown, like the one we had in 2008, or after a terrorist attack, like the one we had on September 11th.

Blackburne & Sons is different than any other hard money lender you know. We make our dough off our loan servicing fee, not the upfront points. We will therefore be happy to make you a hard money loan with a much longer term than our competitors. And our loans almost never have a prepayment penalty.

Fooling People Joke

"You can fool some of the people all of the time and all of the people some of the time ... but you can never fool Mom." -- Anonymous

Hungry for Commercial Loans Too

Blackburne & Sons is also looking for hard money first mortgage loans - up to $1.5 million - secured by commercial properties nationwide (not just California). Unfortunately we do not make land loans, land development loans, or construction loans. Our private money loans almost never have a prepayment penalty.

Got a residential loan request in California or a commercial loan request anywhere in the country? Please call me, Tim Brannan, at 916-338-3232 or email timb@blackburne.com

Beyonce Joke

"At the Video Music Awards, Beyonce revealed that she and Jay-Z are expecting a baby. That kid is going to have everything - except a last name." -- Jimmy Fallon

On a Personal Note ...

This June, my husband and I took our daughter to Los Angeles for her 16th birthday. My mother and two brothers flew to Los Angeles from Idaho to spend that week with us. We spent three full days in the Disneyland and California Adventure Theme Parks and had the time of our lives. We also spent one full day just playing around at Laguna Beach and doing a little bit of shopping in all the shops along the beach. We wanted to make her 16th birthday a memorable one, and we are absolutely sure that we accomplished that goal!

Residential Rates and LTV's

Blackburne & Sons will lend up to 70% LTV on purchases, provided the buyer puts down at least 20% of the purchase price in cash, his middle credit score is at least 680, and he has the capacity to repay. The seller can carry back a second mortgage for 10% of the sales price.

We will often lend up to 60% LTV on refinances, provided the borrower's credit score is at least 680, and he has the ability to repay. The term of most of our home loans is three years.

Our interest rate will vary from 8.9% to 12.9%, depending on the safety of the deal and the desirability of the property and neighborhood. Most of our home loans will be either 9.9% or 10.9%. We charge only 2 points on home loans, and we will go down to par, if necessary, to land a very safe and desirable loan.

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