Peter Boutell: Columnist – Santa Ana Sentinel; Owner: Santa Cruz Home Finance, Santa Cruz; DGS MLO Student Impound Accounts Impound accounts are sometimes referred to as “escrow” accounts and refer to the funds that are held on the borrower’s behalf as a part of the lender’s service. A borrower is said to have an impound […]
Dennis Smith: Author, Chef, Financier; Co-Owner/Broker at Stratis Financial, Huntington Beach; MLO Student Question of the Week Why is mortgage insurance a good thing? Answer Last week in the Weekly Rate & Mortgage Update we discussed if home buyers should wait until they have 20% for down payment before purchasing (you can read the WR&MU, […]
Social Security Of course, many people would say, that does not surprise us. But this error concerns Social Security payments. Compounded or Not Compounded An author in the LA Times, Ms. Weston, had made a statement that the Social Security payment goes up 8% a year for the years between 66 and 70. She said […]
Every Year, I Post A Link Concerning The Vast Amounts Of Unclaimed Money With The State Of California Every year, I get an email from someone who took less than a minute to enter their name or name of relatives, friends, etc. They will tell me that they found some money for someone dear to […]
Is It Possible To Purchase Rental Real Estate In A Self-Directed IRA? Yes. Is it difficult or time-consuming to form your own Self-Directed IRA for purchasing Real Estate? No, contact any professional provider. Is it simple to handle purchasing Real Estate in a Self-Directed IRA? Definitely not. There are many complexities and you will need […]
Many Articles Are Written About How Real Estate Agents Should Treat Clients Be positive, alert, answer phone calls and return electronic messages at once, be available, etc. Jaymi Naciri wrote an article from the other directions. “10 Things To Never Say To A Real Estate Agent.” Buyers And Sellers, You Might Say, “Why Do I […]
All Owners Borrowing On Their Personal Residence For “Consumer Purposes” Must Receive A Federal Booklet, “Your Home Loan Toolkit” It is an excellent source of information concerning loans. The booklet is available free at www.cfpb.gov. I Want To Discuss The Last Section In The Booklet Title: Owning Your Home, subtitles-Owning a home is exciting; your […]
Someone Discussed A New (To Me) Type Of Investment Monetized Installment Sale (M453) Transactions. They were formerly called “collateralized installment sale” or “C453” transactions. They are based on Section 453 of the IRS Code. A Person Has Property With A Low Basis If they sell, large capital gains. If they do a 1031 Exchange, they […]
I Discussed The Reasons For Getting Pre-Approved For A Loan Before You Start Shopping For A Home Does getting approved beforehand guarantee that you will get the loan you want. Again, quoting the National Assoc. of Realtors, “Being pre-approved is not a sure-fire way of obtaining a loan either”. Yes, after you get approved, many things could go […]
Last Week In A Post The Question Was Asked “Do you think that people who are going to sell their house, have already been looking or buying somewhere else, either up sizing or downsizing?” I believe the answer is yes, so in your promotions you should be asking for listings, but also trying to become […]
