Competitive Offers Zillow sure has contact with a lot of prospective buyers. Recently they posted three tips to buyers in a seller’s market. Since we are right now still in a seller’s market we might look at them. Zillow’s estimates today for me are fine so they are today knowledgeable. Submit your offer before the […]
This information is not from some dubious group, it is from Market Watch and our National Association. So with no further comments here are the top ten. Coeur d’Alene, Austin, Springfield OH, Billings, Spokane, Lafayette IN (Purdue), Reno, Concord and Manchester/Nashua NH, Santa-Watsonville. For more info; MarketWatch.com by Jacob Passy
This bill was submitted by Rep Earl Blumenauer (D-OR) and Rep Jimmy Panetta (D-CA) on April 26th. Simple bill, no home for three years, buy one get the credit. For more info: Candyd Mendoza; 4/26/21; MPA.com
Assembly Bill 1885 Assembly Bill 1885 expanded the homestead equity protection limits in California from the previous amounts of $75,000 to $175,000. The new increases should likely prevent more homeowners from losing their homes to bankruptcy. High-cost LA and Orange County, for example, will fall into the equity cap of $600,000 while Riverside County will […]
Definition Homeowners should understand this term as it applies to home loans. Wikipedia states that it is, “The action of refraining from exercising a legal right, especially enforcing the payment of a debt”. The Bible has a definition that states it concerns patience, leniency, tolerance and showing mercy. Where is a resource for information on […]
Acquiring Date In its fifth year, FHA’s policy of requiring the financial assessment of the borrower’s ability to pay has cut tax and insurance defaults by over three quarters and serious defaults by over two-thirds. This article by New View Advisors quotes Ginnie Mae data, they state, “We grade Financial Assessment’s performance as a solid […]
Changes Yes, the URLA that you have been using is a-changing. Optional use of the new rendition begins July 1, 2019 (in less than a month) and mandatory usage begins February 1, 2020. Important point to consider. There will be a new Lender Loan Information Form. This information was formerly on the URLA. Now, it […]
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, […]
First Step What should be your first step if you are contemplating buying real estate whether for the first time or again? The words are GET APPROVED. Your Friendly Loan Broker You get approved by going to your friendly Loan Broker. I recommend someone who is DRE or DBO licensed, not the big bank people. […]
URLA Form Big changes are coming to the URLA. In fact, it is a whole new form that replaces the five page form from 2009. Whenever a Federal Agency, in this case Fannie and Freddie, make a new form does the number of pages increase or decrease? Will the new form have three, five, eight, […]
