Whether you are an absentee owner, out-of town buyer, or even a local, navigating the maze that is the Los Angeles real estate market can be an intimidating prospect; so many options, so many laws, so much paperwork.
Jane, a transplanted Brit, knows what it is like to move to an immense city like Los Angeles and make it your home.
Here you will find the necessary tools to make the right choices as you look to buy or sell property in Los Angeles - community descriptions, useful contact information, access to the latest listings, and much more.
Understanding How Mortgage Rates Work
Thanks to Rick Pelleriti, Upfront Mortgage Broker, I am providing a video that explains in simple terms how mortgage rates are calculated. The mortgage rate itself never changes, but the price associated with the rate you choose, does. You may have heard the term “Yield Spread Premium”, also known as a rebate. This video should help you understand. ... [Read more...]
Don’t Let the Credit Report Companies Market Your Personal Information
The major credit report companies, Equifax, Transunion, Experian are marketing the information they gather from your credit reports. Opt Out of Credit Report Marketing To opt out go to OptOutPrescreen.com ... [Read more...]
With New Federal Guidelines Short Sales Should Become Easier
With new guidelines due to take effect in April, and with lenders able to implement them earlier, the frustrating process of short sales should become easier. The guidelines are part of the new government Home Affordable Foreclosure Alternative Program (HAFA). The purpose is to enable borrowers who are eligible for loan modification programs but are unsuccessful in their attempts, to work out a... [Read more...]
Buyers Beware of the Good Faith Estimate
The Good Faith Estimate, or GFE was intended to protect the buyer by documenting all the fees that need to be paid by a buyer at closing. The fees at closing cannot differ more than 10% of what was quoted, and if it is more, the lender is liable for the difference. This was put in place to keep lenders honest. Previously, cost estimates would be massaged in order to lure a borrower away from the... [Read more...]
Buying a Home in Los Angeles
You have decided you are ready to buy a home in Los Angeles but you are waiting for: The bottom of the market. Interest rates to go even lower. A great deal on a foreclosure…… There are many reasons to avoid actually jumping in an making the purchase. But: You will never know where the bottom is, and common opinion is that we are at the bottom now. Interest rates are at an all-time low,... [Read more...]
New Loan For California Healthcare Workers
There is a new mortgage available for California Healthcare Workers. Broadview Mortgage has an exciting new loan for healthcare workers making home-buying affordable. Healthcare Workers New Mortgage Program This loan is available to almost anyone in the medical field – medical office receptionists, ambulance drivers, doctors, nurses, physicians aids, physical therapists, etc. Here are some... [Read more...]
Good Faith Estimate – Buyer Beware
This post is courtesy of Bill Ladewig, a mortgage broker who specializes in FHA, VA loans. Good Faith Estimate Buyers should educate themselves on the revised Good Faith Estimate (GFE) due to come into effect in January. The revised GFE is another failed attempt to protect consumers, The problem is, consumers cannot be protected with forms because those who wish to deceive will always find a way. ... [Read more...]
One Warm Coat
In the spirit of the season One Warm Coat is a worthy cause. The local donation center is the Los Angeles Mission. ... [Read more...]
Make Sure Title is Clean Before you Buy Your Home
As part of due diligence when purchasing a home a buyer will be provided a copy of the Preliminary Title Report (PTR). What is a PTR? A PTR is a report prepared by a title company prior to issuing title insurance. It shows who owns the property and any liens or encumbrances that a new policy will not cover. Ensure you have Clear Title to your Home If there is any doubt make sure that any documents... [Read more...]
Malibu to Ban Septic Tanks
Malibu, an area of Los Angeles that contains some of the most expensive real estate in Los Angeles County and is home to countless movie stars, is about to lose the bulk of its septic tank systems after years of fierce debate. No new systems will be allowed and existing systems in central and eastern Malibu will have to be converted over within ten years. The septic tank system has been popular in... [Read more...]
Congress Approves the Expansion of the Home Buyers Tax Credit
The House of Representatives voted today to extend the home buyers tax credit, expanding it to include existing homeowners who have lived in their current residence for five a minimum of five years. Home Buyers Tax Credit Approved The tax credit is extended until April 30, 2010 with an extension of 60 days if a binding contract is in place prior to that date. The $8000 remains in effect for first-time... [Read more...]
