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I’m thinking about running a special promotion. I would really like to donate $150.00 for every VA Mortgage closed in the name of each client. Please tell me what you think of this idea and feel free to add other suggestions.


Bank Of America – Making News For All Of The Wrong Reasons.


The latest news from Bank Of America is they are no longer going to offer VA cash out refinances to our Veterans.


Has anyone else noticed that Bank Of America seems to be making news for all of the wrong reasons? How about the the news that hasn’t been reported, like the fact that Bank Of America is no longer going to allow our Veterans to utilize the entitlement they’ve earned to get a VA cash out refinance?



Another dirty little secret about Bank Of America is their policy to refuse to process mortgage payoff requests for refinances. If you have a VA Mortgage with Bank Of America and you decide to get a VA cash out refinance or a VA Streamlined Refinance with another lender, Bank Of America will not process your payoff request (which slows down your refi!) for your preferred lender until they speak to you and have a chance to “sell” you on staying with them!



It’s bad enough that we, as tax payers had to bail them out but now that Bank Of America has been saved from failing all the news surrounding them looks like a giant middle finger to the collective public.


Let’s take a look at some of the most recent headlines that Bank Of America has been generating.


1) Forbes -Bank of America Has Reportedly Considered 40,000 Job Cuts

Bank of America (BAC) officials have reportedly considered as many as 40,000 job cuts.

The Wall Street Journal is reporting that the cuts, which would come mainly from its consumer operations, would be part of its “Project New BAC” overhaul.

The Journal said the cuts would be in addition to the 6,500 the firm has already made this year.

Click this link Forbes to read the rest of this story.



2) The NY  Times – Bank Of America to start charging $5.00 per month for using their debit cards.

When Bank of America told its customers recently that it would start charging them $5 a month to use debit cards, it argued that it was forced to make that change because of regulations that altered the economics of the cards.

Click this link The NY  Times to read the rest of this story.


3) National Mortgage News – Bank Of America decides to exit VA cash-out refinance mortgages.

This past week National Mortgage News broke several updates on the bank, including its decision to exit FHA/VA cash-out refis, the collapse of talks with Fortress over its correspondent unit and its decision to exit six states. 

Click this link National Mortgage News to read the rest of this story.



These headlines would lead one to believe that Bank Of America surely must be on the brink of going under but not according to the next 2.


From The Guardian

-Profit on Wall Street, recession on Main Street



Taxis pass the Bank of America

Bank of America is typical of the trend of increasing profits while laying off thousands of staff. Photograph: Shannon Stapleton/Reuters
In the past few weeks alone, Bank of America, Goldman Sachs, Cisco Systems and Borders have all announced massive layoffs. Borders is closing its retail stores, auctioning off its holdings and letting go 10,000 employees as, due to online competition, the company is no longer profitable and filed for bankruptcy earlier this year. In contrast, Bank of America, Goldman Sachs and Cisco Systems have all posted profits in the last few quarters – in some cases, record highs. Alhough according to the latest data, 9.1% of Americans are unemployed, major US corporations are slashing jobs not out of necessity but out of greed. The revived focus in Washington on creating jobs may be pointless if corporate America no longer needs workers.


Bank of America Profit Drops 37%


This headline is misleading to say the least.


With overall earnings of $2 billion, or 17 cents a share, the bank still missed analysts’ estimates of 27 cents a share. Bank of America earned $3.2 billion, or 28 cents a share, in the same period a year earlier.

Total revenue dropped, too, to $27 billion from $32 billion, a decline partly attributable to the weak economic recovery. As consumers cling to their cash amid uncertain times, mortgage lending has stalled at Bank of America and other giant lenders. The bank, facing new government regulations, also missed out on millions of dollars in overdraft fees and other charges once levied on consumers.


So Bank Of America’s profits drops 37% yet they still made $2,000,000.00 (yes that’s 2 BILLION dollars) and claim they need to charge you $5.00 per month to spend your money, lay off 40,000.00+ of  our friends, family and neighbors on top of eliminating VA cash out refinances.


At what point do we, as Americans and consumers, stand up to these greedy corporate machines?


If you bank with Bank Of America, take your business to a local community bank or credit union.

If you have a Bank Of America VA mortgage, refinance it with us, VA Loans Done Right.

If you own shares of Bank Of America,  sell them and invest elsewhere.

If you plan on buying a home, do not get your mortgage from Bank Of America.

If you have a credit card with Bank Of America, transfer your balance to another card or pay it off.


All that is necessary for evil to triumph is for good men to do nothing –Edmund Burke


Do your part, take action NOW and contact us to refinance your Bank Of America VA Mortgage!

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Free Home Owner’s Insurance Quotes!

Please contact Mike for your free home owner’s insurance quote in the following states CO, AZ, CA, FL, UT, MD, IL, NV, VA, WV, DE, PA and NJ



COLORADO Insurance Agent MIKE DI GIACOMO Recognized by Progressive Insurance for Top Performance

DENVER, CO 2011 – Based on his history of providing excellent customer service and consistently meeting established sales goals,

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Unlike some agencies that only represent one insurance company, AMERICAN HOME INSURANCE AGENCY INC. is an independent agency offers products from different companies.

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AMERICAN HOME INSURANCE INC., in business since 1998, is located at 7505 E Harvard Ave, Denver, CO 80231 or online at

The experts at AMERICAN HOME INSURANCE INC. provide advice and personal service. For more information, call 720-528-2232 or send an email to


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Please contact Mike for your free home owner’s insurance quote in the following states CO, AZ, CA, FL, UT, MD, IL, NV, VA, WV, DE, PA and NJ



Mike DiGiacomo

Insurance Specialist

American Home Insurance Agency, Inc.

7505 East Harvard Avenue

Denver, CO  80231

Office- (720) 528-2232

Toll-Free- (888) 325-8108 Ext 12-2232

Fax- (303) 488-4753



Great News – 100% VA Cash Out Refinance – Coming January 3, 2011


*UPDATE – November 19th,2012* 

• Maximum loan to value for cash-out transaction where the veteran pay offs an existing mortgage and other consumer debts through the closing is 100% of the appraised value of your home. Click HERE for more details on this update.


The VA Loan guidelines consider a VA Refinance to be cash out even if you’re not receiving cash back at closing or paying off non-mortgage debt if you’re not doing a VA IRRRL.

In most cases lenders will limit your new VA Loan to 90% of your home’s appraised value even though the actual VA guidelines allow up to 100%! For example; If your home appraises for $300,000.00, the maximum loan amount would be $270,000.00 or 90% of $300,000.00.

Now let’s say you just want to refinance your current non VA Loan to a new VA Loan. Under the VA guidelines this would be considered a cash out refinance and limited to 90% of the appraised value due to lender guidelines.

The good news is we now have that ability to refinance an existing non VA Loan in to a new VA Loan at 100% of the appraised value!

For more information regarding the VA cash out refinance to 100%, please click HERE.



Program details are below for this incredibly easy VA Refinance.  We lend nationwide!

VA Cash Out Refinance Highlights:

One of the only programs left that will allow 100% financing on a refinance of an existing mortgage.

Qualification requirements:

1.  Must be currently employed.

2.  620 or better middle credit score.

3.  No late payments on your mortgage over the past 12 months.  One 30 day late may be acceptable with explanation.

4.  No liens on your home currently.

5. Must be able to document income.

We will now permit the following increased loan to value (LTV) for VA cash-out transactions.
• Maximum loan to value for cash-out transactions in which the borrower pays off only the mortgage lien(s) and finances closing costs, pre-paid expenses and discount points – 100% of the appraised value of your home.
o Second mortgages being paid off must be seasoned at least one year and may not have had draws in the most recent 12 months unless the draws were for documented home improvements.
o Minimum credit score for 1-2 unit properties – 620
o Minimum credit score for 3-4 unit properties – 640

• Maximum loan to value for cash-out transactions providing cash back to the borrower and/or non-mortgage debt consolidation – 95% of the appraised value of your home. This is up from the previous 90% limit!
o Minimum credit score for a VA cash out loan where the loan is over 90% of the appraised value of your home with cash back to the borrower and/or non-mortgage debt consolidation and property is SFR – 640.
o Minimum credit score for a VA cash out loan where the loan is equal to or less than 90% of the appraised value of your home with cash back to the borrower and/or non-mortgage debt consolidation and property is SFR – 620.
o 2-4 Unit properties are not permitted

We can structure your VA refinance so that you skip 2 mortgage payments!

In addition, you should receive an escrow refund from your current lender. This means more “cash” in your pocket!

Does a VA refinance make sense for me?

Fill out our no obligation quick quote tool to find out how much you can save!

Click here to get started!

This is an email I received today and thought this would be a great place to share it.

Conversation overheard on the VHF Guard (emergency) frequency 121.5 MHz while flying from Europe to  Dubai.  It’s too good not to pass along…

The conversation went like this…

Iranian Air Defense Radar: “Unknown aircraft you are in Iranian airspace.  Identify yourself.”

Aircraft: “This is a United States aircraft. I am in Iraqi airspace.”

Iranian Air Defense Radar: “You are in Iranian airspace. If you do not depart our airspace we will launch interceptor aircraft!”

Aircraft: “This is a United States Marine Corps FA-18 fighter. Send ’em up, I’ll wait!”

Iranian Air Defense Radar: (no response…total silence)

God bless our troops!!!!!!