Los Angeles Mortgage News

Waiting Periods After Short Sale, Foreclosure, Bankruptcy

By / Mortgage Information

I wrote recently about Fannie Mae’s announcement regarding the extension of the waiting period for those Buyers hoping to become Homeowners once again after having experienced a Short Sales (Pre-Foreclosures). The waiting period is now extended out to 4 years … regardless of Loan-to-Value considerations (or Down Payment percentages). Naturally, there’s been a wide range […]

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Will Refinancing Cause my Property Taxes to Go Up?

By / Mortgage Information

Because the current interest rate environment remains conducive to refinancing, a concern that some have about taking action stems from confusion related to how their property taxes are determined, and specifically the question, “Will refinancing cause my property taxes to go up?”  It goes without saying that nobody wants to save money via refinance, only to

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Looking to Buy a Condominium? What You Need to Know

By / Mortgage Information

If you’re presently in a house hunt, or even just dabbling with the idea of buying a home, you’ve probably done some research and run across multiple articles regarding the current Mortgage Process … and its challenges … You’ve probably also heard that you’ll be asked to submit plenty of documentation regarding your finances (savings,

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Is Now the Time for You to Sell Your Home and Buy the Next?

By / Mortgage Information

The final decision to Refinance your existing Mortgage (or  not), should be based on one simple thing.  It must make good financial sense …That decision is often times determined by the length of time you, as a Homeowner, “guesstimates” you’ll own your loan (i.e., stay in your present home).  A good rule-of-thumb is that the monthly payment savings

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Heading to College? Protect Your Finances For The Future

By / Mortgage Information

It happens fairly frequently …      While reading through a potential Mortgage Applicant’s Credit Report, I’ll discover that many of their reported debts and Credit Cards were first established while they were in college.  And now years later, they’re still trying to pay off those debts. Yes, it’s true.  The Credit Card Act (signed

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Are You Self-Employed and Hoping to Get a Mortgage?

By / Mortgage Information

From a Mortgage Lender’s perspective, the most complicated Mortgage Applicant is often the Applicant that is Self-Employed.      Why?      Full Documentation Loan Files are demanded in today’s Mortgage lending.  IRS transcripts are requested (and received) on the vast majority of Mortgage Loan Applications.  With Self-Employed Borrowers, the only way to verify income

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