Question of the week: What deductions or tax benefits will I get from home ownership when I file my taxes this year?
Answer: DISCLAIMER: I am not a Certified Public Accountant, nor a tax preparer, the information below is for general information and may vary for your individual situation. Please consult a tax professional before completing your tax filing with the Internal Revenue Service or State Franchise Tax Board.
Now that we have dealt with legal statements, as a rule most homeowners can deduct the following from their income when filing their income tax returns for their primary residence:
Mortgage interest paid
Property taxes paid
For those with mortgage insurance on either a conventional or FHA mortgage may deduct their mortgage insurance premiums for 2011 but not in 2012 unless Congress acts to retroactively extend the deduction first introduced in 2006 to eligible borrowers. If you are single or married and filing jointly and your adjusted gross income is $100,000 or less you can deduct the entire amount of premiums paid. If your adjusted gross income is above $100,000 you may still be able to deduct a percentage of the premium on a sliding scale.
If you bought or refinanced your home in 2011 you may be able to deduct some of the closing costs from your transaction.
As a rule of thumb regarding deductions I generally estimate that your tax savings benefit from the deductions allowed for mortgage interest and property taxes equate roughly to the payments you make for property taxes and insurance. For example if your property taxes and homeowners’ policy add up to $6,000 per year, your federal income tax savings will roughly equate to $6000 for the year. Note that this is a rough rule of thumb and your savings will differ depending on your specific situation for income and other possible deductions.
The tax benefits of homeownership are one of the “loopholes” that arise in conversations and debates about revising the national tax code. In the current climate of politics and rhetoric there is not an insignificant number of people, and groups, who desire to eliminate the deductions available to homeowners. Without any substantial trade-off however, such as lowering of the tax bracket percentages, any move to eliminate these deductions enjoyed by hundreds of millions of families is dangerous politically. As the debates continue in the coming years as to how to lower the national debt and federal deficits keep attuned to the mention of the homeowner deductions and their future.
Please consult your tax professional regarding your specific benefits from homeownership before completing your tax filings for 2011.
Have a question? Ask me!
Two major events for the headlines this week. The President announced a proposal for another new refinance program and the Labor Department announced the jobs numbers for January. Both announcements, like any from Washington the past few decades it seems, can be viewed as glasses half empty or half full.
On Wednesday President Obama gave a speech following up from comments in his State of the Union address regarding refinancing for homeowners not currently eligible for programs available through the HARP program. I wrote in detail on my blog about the announcement and the prospect of the program coming to market on Wednesday. Also included in the announcement was a very good proposal to help clear future housing markets from more REOs from Fannie Mae, Freddie Mac and FHA and the prospect of yet another multipage disclosure form to add to our nearly forty page loan application packages. Click here to read the post and learn about the program proposed by Obama and the very smart strategy in the announcement.
Today the Labor Department made headlines on every news and business website and all of tomorrow’s newspapers with the announcement that the economy added a lot more jobs in January than anyone predicted. Nonfarm payrolls increased by 243,000 jobs in January, a staggering number as the consensus was anywhere from 125-150,000 jobs being added. For the past three months the job growth is averaging just over 200,000 per month, about twice the monthly average for May through October 2011.
Included in the announcement was that the unemployment rate dropped to 8.3%, the lowest rate since February 2009 when Congress passed the $800 billion stimulus bill. While the number 8.3% is good news in that it is showing unemployment on the decline, the data that makes up this number tempers the good news with suspicion as to the importance of the figure. A large portion of the drop in the unemployment rate was the result of 1.2 million workers being classified as not being in the labor force, in other words they have quit trying to find work. This trend, large numbers of Americans quitting their search for employment, as been constant and is a concern for what the actual strength of the job market is nationwide.
Rates move up on the news as it comes on the heels of the Fed’s announcement last week regarding keeping their rates at current low levels through 2014 and testimony yesterday in Congress by Fed Chief Ben Bernanke that the Fed is concerned about the economy and its ability to show sustained and healthy growth. With the surprising job numbers investors jumped into stocks where markets are rising after several days of losses and out of Mortgage Backed Securities which had seen several days of gains.
For a visual look at the power of announcements from Federal Agencies look at the quick video I made this morning showing the movement in the Mortgage Backed Securities market on the Labor Department announcement.
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Rates for Friday February 3, 2012: Note that we have seen the 3.5% coupon opened up for FHA mortgages so our graph will reflect a sharp drop. Keep in mind rates and costs are inversely related so there is still a significant benefit to the 3.75% FHA rates at the greatly reduced costs and points. Rates hanging on for no gain or loss on today’s large sell off. Further rate increases are in store if/when Greece finally comes around to settle its financial crisis and conflict with the rest of the European Union.
FIXED RATE MORTGAGES AT COST OF 1.25 POINTS
30 year conforming 3.625% Flat
30 year high-balance conforming 3.875% Flat
30 year FHA* 3.5% Down due to coupon (see above)
30 year FHA high-balance* 3.75% Flat
Please note that these are base rates and adjustments may be added for condominiums, refinances, credit scores, loan to value, no impound account and period rate is locked. Rates are based on 20% down (3.5% for FHA) with 740 FICO score for purchase mortgages.
* Current rates include credit towards closing costs, call for quote on rate and credit.
Quite a busy weekend for the Smith clan enjoying memories, kids and family.
Tomorrow is the memorial service for Skip Rowland, a fixture for many decades in the sports communities of Long Beach. Skip was a multi-sport letterman at UCLA in the 1940’s where he became close friends with the legend John Wooden. He went on to coach several sports at Wilson High in Long Beach. Several of Skip’s students went on to play professional ball in the major leagues or the NFL. As I told his daughter Sandy and son in-law George, Skip did not get cheated in life and lived strong until he was caught up with pneumonia—he was playing 18 holes of golf a week or so before his illness. You can’t swing a pitching wedge around in Long Beach without clipping someone who was impacted by Skip.
In the evening I have the honor of escorting my youngest to the Valentine Ball at her elementary school. An opportunity to dress up and have a date with the prettiest and wittiest girl at Patrick Henry Elementary School (I can say that since her older sister is now in middle school).
Sunday we are heading out to La Quinta to spend a few hours with my aunt and uncle visiting from the East Coast taking advantage of a rare opportunity to see them and let the girls get some family history. We should make great time coming home as we will be driving during the first half of the Super Bowl. If you ever want to travel with little traffic, play golf with no one else on the course or ski with the slopes to yourself, do it during the Super Bowl!
On Wednesday I had the privilege of hearing Dr. Terrence Roberts speak at the Long Beach Rotary. Dr. Roberts was one of the Little Rock Nine who integrated Central High School in 1957 aided by federal troops. A fascinating speaker who has a fascinating tale. One statement he said really got me thinking, “we are all born into a drama that is already taking place.” What is your role in the drama that is continually unfolding for us?
I have no rooting interest in the game on Sunday in which the Patriots will win 27-24 with Brady steering the champs to the trophy in the closing minutes.
Have a great week,
Dennis
Today President Obama announced the lasted plans from his Administration to deal with the housing market. Getting the most attention is the latest refinance plan to help home owners who are upside down on their mortgages, i.e. they owe more than their homes are worth. With plans already in effect that assist many upside down borrowers who received loans from Fannie Mae or Freddie Mac prior to April 2009 and all FHA mortgagees, the new plan aims to also assist home owners with mortgages that were non-conforming (i.e. not Fannie or Freddie) or FHA loans.
The basic part of the plan is that eligible home owners, broad stroke eligible being FICO scores of 580 or higher and no late payments in the last six months, could refinance using FHA mortgages up to 140% loan to value and the maximum loan limit for their area. With FHA rates below 4% for many home owners this plan will save them money even with the high cost of FHA mortgage insurance. As an additional incentive for those who agree it appears the latest Obama plan would have the government paying closing costs for the transaction if the homeowner agrees to continue making their same payments on the new mortgage to accelerate principal reduction.
The estimated cost of the plan is $5 to $10 billion, which is where the first major problem comes into play on the plan. Where does the money come form to pay for refinancing all these home owners? The Administration is proposing a tax on major banks to fund the costs.
Already this year we saw Congress have new home mortgage applicants pay for the temporary payroll social security tax reduction by raising fees charged by Fannie and Freddie, now the President is asking Congress to legislate that "major banks" pay for refinancing their current paying customers and lose that loan revenue by paying a special tax. If this is passed guess who ultimately pays the tax that will be charged? If you said the banks customers you are correct.
The second problem is the use of FHA for the program. FHA currently has approximately $1.1 trillion in mortgages it is insuring and capital reserves against unexpected losses of only $1.2 billion. Under Obama's plan hundreds of millions of new mortgages that are upside down would be added to FHA's balance sheet, making it even more undercapitalized according to its charter from Congress which would most likely result in another increase in mortgage insurance for future borrowers. So not only would banks' customers be paying for the refinance plan but so would future home buyers who need FHA financing to purchase their new homes.
Two other announcements that will get lost in the reporting of the major refinance proposal are one that makes sense and one that adds yet more paperwork to an already burdensome process.
The make sense idea is to allow Fannie, Freddie and FHA to have auctions blocks of foreclosed properties to investors who would maintain them as rental housing. The bulk auctions would clear the balance sheets of the agencies, would not have major market impacts for local housing prices and would convert eyesore properties into liveable residences. Slowly the investors would put their inventory on the open market as real estate prices stabilize and they can profit from their investments.
In 2010 HUD instituted a new Good Faith Estimate that is intended to provide clarity to mortgage applicants and show the fees involved in a transaction. The form replaced the old Good Faith Estimate that on a single page showed every fee applicants paid and created a three page form that is very confusing. In his announcement today, Obama announced a borrower "bill of rights" that would include a newer and supposedly simpler form for borrowers to understand their loan terms. Currently in California we have the California Mortgage Broker Disclosure Agreement of three pages outlining every fee and terms of the mortgage, the Truth In-Lending form which shows the APR for mortgages and the terms, the Good Faith Estimate which shows fees aggregated in separate sections and the loan terms and is three pages and the Fee Worksheet which is one page and shows all the fees on the loan, the total funds to close and breaks down the monthly payment. Evidently this is not enough so another simpler form will be created by government bureaucrats to aid home loan applicants.
The refinance plan as it stands now is, to quote Rep. Scott Garrett (R-NJ) who heads the House subcommittee on capital markets, "dead on arrival." The House has said it will not pass any legislation that includes taxing banks to pay for it, and members are very concerned about adding more risk to FHA's undercapitalized balance sheet. Knowing the plan is DOA in the House, President Obama's announcement appears to, shockingly, have political overtones more than practical ones so he can go to the campaign trail and denounce a do-nothing Congress who refuses to help middle class Americans struggling to make their mortgage payments.
In the meantime interest rates are incredibly low and opportunities are available for many to refinance and lower payments and interest rates. Call me to discover if you are eligible under current programs to save on your mortgage.
Question of the week: If the Federal Reserve is going to keep interest rates extremely low through the end of 2014 why should I refinance my current mortgage now, why not wait?
Answer: This question arose from the Fed’s announcement on Wednesday that it would maintain extremely low interest rates through at least the end of 2014 due to the pace of economic recovery. (For a quick [2 minute] look at the impact of a statement on markets click on this video link showing the dramatic reaction in the Mortgage Backed Securities market when the announcement was made.) For the past few years the Fed has maintained the Federal Funds Rate at near zero percent, a level that is somewhat controversial as to who benefits. With this announcement the Fed is saying it will hold this rate for three more years as it feels the near zero rate is necessary to keep the economy moving. One group that will most definitely benefit from this policy are current holders of Home Equity Lines of Credit (HELOC) who will see the Prime Rate remain very low enabling them to repay their HELOCs at low rates.
One reason you may want to wait is because you may have to depending on your equity position in your home and your ability to refinance. If you feel that mortgage rates will remain very low while your home regains lost equity to enable you to refinance to a more beneficial loan program then you can wait.
Some may want to wait as they feel rates may drop even further with the Fed holding rates and hold off on current rates to see if they can gain a little bit more in savings with any rate drops. This waiting game becomes a game of risk and depending on the result could add years to your potential savings. A simple math problem with this approach.
Dennis has a current mortgage at 4.75% for $400,000 and a payment of $2087 per month. Assuming he could refinance today at 4.00%* his payment would drop to $1910 per month, a savings of $177 per month, or 8.5%.
Dennis wants to wait because he thinks the rates will drop further and he will be able to refinance under the same terms at 3.75% which will give him a payment of $1852 per month, a savings of $58 per month more than if he had refinanced at 4.00%.
For every month Dennis waits to refinance at the lower rate he is losing $177 in savings he could have today, for every month he waits it will take him three months ($177 divided by $58) to make up for every month of lost present day savings. Confused? If Dennis needs to wait 10 months to refinance to his desired rate of 3.75%, waiting those 10 months has already cost him $1770 in lost savings. When he does refinance at 3.75% he will not be benefiting beyond his lost savings for another 30 months when he has finally repaid himself the lost savings by waiting.
Dennis’s strategy is also based upon the fact that while the Federal Reserve may keep short term interest rates low that does not mean the long term interest rates, such as mortgage rates, will remain low. Mortgage rates are determined not by the Federal Reserve but by the open market and investors decisions as to whether to buy or sell Mortgage Backed Securities. These decisions are based upon macroeconomic factors, return options for other investments and determination of risk versus return. It is not unlikely that while the Fed looks to keep rates low for short term rates, investors feel higher rates of return are required for longer term rates.
As evidence of this look at the twelve month mortgage rate chart below, during this twelve month period the Fed never moved short term rates but since January 2011 we have seen the base conforming 30 year fixed rate as high as 4.875%.
I enjoy going to Las Vegas and playing some cards, something I haven’t done for quite some time but enjoy nonetheless. A little recreational gambling can be fun, exciting and perhaps profitable, but when I do go I do not take my mortgage payment with me. Gamble and take high percentage risks with money you can afford to lose; don’t gamble your house payment against a market that is oft fickle and always unpredictable.
Good week for headline writers. We had the State of the Union, Republicans cannibalizing each other in debates, housing news, employment news, consumer spending news, the Fed announcement and finally 4th Quarter Gross Domestic Product news. I’ll run through what impacts mortgage and housing markets.
About three sentences of several hundred were devoted to mortgages and housing in President Obama’s State of the Union message. In full campaign mode Obama had a proposal for a refinance proposal that would allow every American homeowner to save three thousand dollars a year. No details and I’m not really sure how this would work while ensuring banks and lenders remain solvent and the $165 billion owed to the Treasury from Fannie Mae and Freddie Mac does not double or treble in size. That is if he could get any such proposal through a Republican controlled House of Representatives also in campaign mode since they face re-election every two years and are becoming more and more hardened to new spending and increasing the deficit.
Housing data continues to offer no sign of imminent recovery. Report to report there is some good news of higher sales or lower sales, higher prices or lower prices. Depending on who is reporting and what area or region the bulk of their data is coming from reports on housing can seem somewhat optimistic or same-old-same-old stagnant housing. What is clear is that foreclosures and bank owned properties coming to market will most likely be greater in 2012 than 2011 due to resolution of the “robo-signing” issues and pent up inventory held by lenders. Depending on how this inventory is relieved will be critical to market prices.
Not helping housing has been the lack of a central plan that is agreed to by all the stakeholders: lenders, Congress, White House, Federal regulators. Not long ago the Federal Reserve Chairman, governors and staff were practically unanimous in stating that housing is the most serious risk to the economy. Congress mandates Fannie and Freddie raise costs to borrowers for ten years to pay for a two month payroll tax cut that is not needed. Federal regulators continue to increase the requirements, reporting and costs from top to bottom of the mortgage industry. A new bureaucracy is up and running that by-passes Congress for any oversight or regulation that has announced its intention to further increase costs and disclosure burdens for lending. Federally controlled Fannie and Freddie continue to aggressively demand lender buyback mortgages funded to underwriting standards for the slightest errors or tolerances. It seems the only consensus from the government to deal with the housing market recovery is to make it more difficult. No wonder the Fed has a bleak outlook for sustained economic growth for the next three years.
After several weeks of declining filings for unemployment insurance the number jumped up again this week. As I have stated in prior weeks this should not come as a surprise with the decline in seasonal jobs that boost hiring from Halloween through New Year’s, however the media again acts with some surprise at the increase. Until unemployment filings are consistently below 325,000 per week and private sector employment grows by more than 200,000 per month our national employment crisis will continue to be a major factor in housing recovery.
Half empty or half full? Today the Commerce Department released the 4th Quarter GDP numbers announcing the economy grew 2.8% from October through December. This is was the fastest growth since early 2010, but what is seemingly good news was met by markets as not so good news and reinforced the Fed’s outlook earlier in the week. The reason for the unenthusiastic reception of the news is the breakdown of what occurred in the 4th Quarter and the expectations for a number of 3.0% or greater following the positive retail shopping numbers from November and December.
Dissecting the report we learn that taking out businesses restocking inventory they had let decline for two quarters left the GDP growth at only 0.8% for the quarter. That is one revision away from zero growth in private consumption for the quarter. For the year the economy grew at 1.7% after a federal deficit pumped $1.5 trillion more into the economy than it took out (about 8% of GDP) and the Federal Reserve through its Quantitative Easing pushed approximately another trillion into the economy (about 5.3% of GDP). With only 1.8% growth in an economy that saw over 13% of its size added to it there is cause to be unenthusiastic about the GDP numbers. Back to my Vegas analogy of not taking your mortgage payment to the blackjack tables, I wouldn’t bet it on robust economic growth in 2012 either.
Rates for Friday January 27, 2012: It is rare we see mortgage rates respond by dropping lower after a Fed announcement but that was the case on Wednesday. With the jump in Mortgage Backed Security prices on Wednesday we see rates drop this week. Reminder that the FHA rates have been at the same rate for so long due to the coupon rates from Ginnie Mae, while the rates are the same we have from week to week varying amount of credit we make to closing costs for the selected rate—call for details and credit available for your situation.
30 year conforming 3.625% Down 0.125%
30 year high-balance conforming 3.875% Down 0.125%
30 year FHA* 3.75% Flat
We will be around enjoying the spring-like weather in Southern California this weekend and available most of Saturday to assist you with any questions or numbers you may want run. Sunday there is evidently a movement afoot to take the Metro down to Olvera Street after church. If you see any pictures of me posted on the internet dressed as Pancho Villa in sombrero and poncho don’t be surprised!
A quick video (2 minutes) showing how quickly and dramatically the Mortgage Backed Securities markets moved yesterday after the Fed announced it would retain extremely low interest rates through at least the end of 2014.
This video will tie into my Question of the Week in my Weekly Rate and Market Update tomorrow.
Words Move Markets: The Fed and Mortgage Rates
My objective is to post more often on YouTube to show what is happening in the markets. Subscribe to www.youtube.com/stratisfinancial
Question of the week: Why are you counting that payment that is not my account against me?
Answer: Because it is on your credit report.
When we pull a credit report for your mortgage application is includes the three major credit bureaus, Equifax, Experian and Trans Union. Any account showing on your report that is open, has to be counted as a debt to you for qualifying unless we can either get it removed from your account or prove you are not making payments.
The two most common reasons that an account you do not consider your own appears on your credit report are that you co-signed for someone and they are making the payments so you do not consider it your account, or someone has added you to their account as an authorized user.
In the case of co-signing an account you have agreed to be responsible for the debt and its repayment. Whether it was your intention to make the payments or not, when you sign for a family member or friend on a mortgage, auto loan, credit card or student loan you are as obligated as that individual to ensure the payments are made on time and until the debt is paid in full.
If you have not made any of the monthly payments then often we can eliminate the payment from your mortgage qualifying. For this to happen you need to provide copies (front and back) of cancelled checks for the past twelve months showing some other party has made every one of those payments and the payments. If you have made even one payment in the past twelve months most underwriters will count the debt against you for qualifying. If the debt is less than twelve months old and the other party has made each of the payments then depending on how long the account has been open and other circumstances it may be underwriter discretion as to whether to count the payment against you or not; I usually assume they will count the payment.
Often getting copies of the cancelled checks can be quite difficult, most often the case if the account that is in question was co-signed with an ex-spouse or partner. Unfortunately in cases such as this unless you can prove irrevocably with cancelled checks the debt must count against you. This is one reason why I frequently council those who are separating and going through a divorce to obtain a credit report to see what debt obligations exist and how they are listed. Using the credit reports accounts can be separated and creditors contacted to remove one or the other spouse from the account, or agreements placed into the divorce decree stipulating not only who is obligated to make the payment but also that the party who will pay the account will make payments on time and if requested provide the other party with cancelled checks to show future creditors who is paying the debt.
Please note that just because a divorce agreement states that your ex-spouse has agreed to pay the debt and a judge has ruled on the agreement does not mean that you are no longer obligated on the note you signed with the creditor. Until the lender releases you from the note in writing or the debt is paid in full you are still responsible for the repayment of the debt.
Regarding an account showing on your account as an authorized user, this credit reporting more than any other makes my blood boil. This situation most commonly occurs with younger individuals who were given a credit card to use in college or in cases of emergency by their parents. Even though you are not obligated on the account, never signed a note or other instrument agreeing to make payments on the account, more and more creditors (most notably American Express and Citi) list the accounts on the authorized user’s credit report. In some instances if your parents, or whomever gave you access to the account, are active with the account and charge large balances the impact on your account can be fairly negative.
The same option as the one detailed above for getting cancelled checks applies, or you can contact the creditor and have yourself removed from the account. To remove yourself from the account you may need whoever is the primary account holder to contact the credit company. If they do agree to remove you request confirmation in writing and get the name and extension of the person you spoke to so that we can update the credit report and show the account removed.
When it comes to credit reporting and having changes made the prevailing sentiment is you are guilty until you prove yourself innocent—something that is very difficult to do which is why our legal system is that you are innocent until proven guilty.
Change your payroll tax deductions if you were claiming a mortgage insurance deduction in 2011. The tax benefit expired effective January 1, 2012 that allowed qualified households with mortgage insurance to deduct the expense from their income similar to the deduction for mortgage interest and property taxes. So if you have been claiming this deduction and had adjusted your IRS Form W-4 to increase your take home pay to benefit every payroll from the deduction you will want to contact your human resource or payroll manager and complete a new form for 2012 and lower your allowances.
This should bring clarity to the size of our national debt and annual deficits our federal government has been running. Twice in the past several months we have seen major debates in Congress over reducing the deficit, no eliminating it but reducing it. Last week President Obama requested additional spending from Congress that would increase the deficit $1.3 trillion in 2012. How much is that and what impact would the “cuts” in spending being fiercely in Congress have on that amount? Here is a simple analogy courtesy of my Dad:
* U.S. Tax revenue: $2,170,000,000,000* Fed budget: $3,820,000,000,000* New debt: $ 1,650,000,000,000* National debt: $14,271,000,000,000* Recent budget cuts: $ 38,500,000,000Let's now remove 8 zeros and pretend it's a household budget:* Annual family income: $21,700* Money the family spent: $38,200* New debt on the credit card: $16,500* Outstanding balance on the credit card: $142,710* Total budget cuts: $385
The lesson? When trying to digest the Federal budget and deficit remove eight zeros and put it in your terms/household. For a real time look at the deficit and debt click in on the U.S. Debt Clock. And remember, you are a co-signer on that credit card.
Rates ended their slide this week. With investors buying off on the European debt scenarios and buying German and French debt, some positive economic news, and bond prices being high enough to entice selling and taking profits Mortgage Backed Securities have lost ground each day this week.
Heading the domestic news was the release of price data from the Commerce Department for the Producer Price Index (PPI) and the Consumer Price Index (CPI) for December. Both numbers came in pretty low showing absence of any inflation for the month. Primarily due to low energy costs for the month the small increase in prices for both producers and consumers should help boost consumer spending. Generally no inflation is positive for mortgage rates, but this week the news helped boost stocks. Between European bond auctions and U.S. stocks investors left the flight to quality of U.S. bonds and rates have inched up as a result.
Existing home sales reported an increase for December as well, though after the tremendous adjustments made to the reports for the prior five years I have some skepticism. Median prices in California dropped despite higher sales as the sales were concentrated in the lower price ranges and there was a large increase in investors and second home buyers in the market.
Rates for Friday January 20, 2012: The increase in Agency fees for the two month payroll tax reduction extension has now been priced in by lenders and it is about 40-50 basis points for most and up to 80 basis points for a few.
30 year conforming 3.75% Flat
30 year high-balance conforming 4.00% Up 0.125%
It appears we may actually have a bit of Southern California winter this weekend with rain coming in from the storm that has been hammering the Northwest. Whenever it rains in Southern California it is a great time to look at houses if you are in the market for a new home. Because of the infrequent rain we get looking when it is raining allows you to see potential problems that may not appear for many months.
We are having a fun weekend with our niece’s birthday party on Saturday and going to see the Clippers play on Sunday afternoon. I’ll have the Blackberry on as always but should you call anticipate a slow reply.
Dennis C. Smith, California Dept. of Real Estate Broker #00966315 Stratis Financial Corporation, California Dept. of Real Estate Broker #01269597
Dennis C. Smith, California Dept. of Real Estate Broker #00966315
Stratis Financial Corporation, California Dept. of Real Estate Broker #01269597
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