Mind your Own Business
November, 2013 - Issue #109
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What sets Mission Valley Bank apart from the Big Bank-mentality is our commitment to customers. We treat you the way we want to be treated, with professionalism and courtesy.

We greet customers by name and assist with whatever they need. We're on your side, working to earn our role as a Trusted Adviser, helping you make smart financial decisions to improve your quality of life.
Our organizers and founders are local business people and bankers who have worked in and served the community for many years. It's this knowledge that allows us to provide unsurpassed financial service to growing businesses, offering highly-responsive banking relationships to every customer.

Our business model has proven successful from inception. Our future looks brighter than ever as we continue to build a secure financial institution focused on serving our community and meeting the highest expectations of our customers.

"Your Success is our Mission" captures the essence of our way of doing business and echoes our commitment to provide added value to every customer relationship. Our objective is to enhance the financial wellbeing of each customer and to contribute to his or her personal and business success.

Mission Valley Bank exists because there's a demand for a local business bank that treats you right, knows your name and provides service that consistently exceeds your expectations.

We are a strong team of skilled and friendly community bankers that really enjoy what we do - providing exceptional financial solutions and doing all we can to help make financial dreams come true.
Mission Valley Bank Valencia Office 775-4112
Centre Pointe Business Banking Office 753-5680

The Biggest Mistake to Avoid when Facing Foreclosure
You already know that your home is in foreclosure. You've received the dreaded Notice of Default. You know that after 90 days, your lender could schedule a Trustee Sale for your property upon only 21 days notice. You don't have a lot of time left, before your home - with all its memories, hopes and dreams - will then be gone!
Facing foreclosure can be very stressful. I am sure this isn't what you planned when you bought this house. Perhaps you planned on staying in your home for good. Or maybe it was going to be temporary until you were ready for a bigger, nicer place. Whatever your reason, unfortunately, you now have to face a different reality.
The question is: What are you going to do about it? You're probably getting tons of mail from a lot of companies these days, all offering you a "solution." What you hear can be confusing because you don't know what to believe or who to trust. Should you "short sale" your home, refinance or apply for a loan modification?

Don't make the common mistake that people make when facing foreclosure: waiting until the last minute to act. Remember that the clock is ticking. Once the foreclosure process begins, every day you wait is a day wasted.
Seek legal help today and find out what options are available.
Ray Bulaon Law Offices, Inc. 866-477-7772

The Benefits of Community Banking
As a community bank, Union Bank makes decisions faster. We are flexible on terms, know who you are and what you need and work closely with you to make things go smoothly.

We live here, we work here and are part of the community just like you. For nearly 150 years, we've served small businesses and would like nothing more than to help yours succeed. As part of doing business with you, we make every effort to know you.
With our online mobile banking, you can bank with confidence from anywhere. Track, manage and send payments quickly and securely, all so you can be more efficient than ever!

We are involved in the community by serving on many boards like The Henry Mayo Newhall Memorial Health Foundation, Senior Center and Arts Council - and by volunteering, raising and donating money to these organizations and others across the valley.

At every turn you'll find the unparalleled expertise and guidance that is Union Bank. From personal to business banking, we are committed to making every experience you have a great experience. That's how we've done it since 1864 and that's what you deserve.
Union Bank Newhall 799-8529; Valencia 799-8531;
Canyon Country 424-9686

Improvements in the Housing Market
The housing sector continues to improve despite the recent rise in home loan rates. But what's going on with home loan rates?

Housing Sales
Existing home sales rose in July and are up 17.2 percent since this time last year. However, new home sales dropped in July to come in below expectations and June's numbers were also revised lower.

Home Prices
Recent reports indicate that home prices are finally making some positive strides. Research firm CoreLogic reported that home prices across the US rose by nearly 12 percent from June 2012 to June 2013, which is a huge increase over the previous year.

In addition, research and analytics firm Clear Capital said that prices rose more than 9 percent in the year ending in July. And the Federal Housing Finance Agency also reported that home prices rose 7.7 percent in the year ending in June.

Overall, the housing markets have turned a corner, but it's important to note that this pace of growth will likely slow with home loan rates rising.

Home Construction
Housing starts rose 5.9 percent from June to July, which was in line with estimates. Building permits, which are a sign of future construction, came in above expectations. In addition, the National Association of Home Builders Housing Market Index rose to 59 in August from the 57 recorded in July. This is the best level in nearly eight years.

The Fed and Home Loan Rates
The minutes from the Fed's July meeting of the Federal Open Market Committee were also released last month and they offered no clarity as to when the Fed will begin tapering its bond purchases.

Remember that the Fed has been buying $85 billion of bonds a month to help stimulate the economy and housing market, and those purchases have helped home loan rates remain attractive. Economic data in the coming weeks will be a key factor in whether the Fed begins tapering its bond purchases, or if it waits until later in the year or even 2014.

Home loan rates still continue to remain low compared to historical levels. This means now is a great time to consider a home purchase or refinance.

Please feel free to stop by any of the eight Bank of America locations in the Santa Clarita Valley and meet your mortgage loan professional.
Bank of America Home Loans 254-5400
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