With home prices nearing, if not at their bottom, now might be a great time to buy Los Angeles real estate as income property. Many more people will be looking to rent now that pre-approved mortgages are more difficult to come by. However, before you become a landlord, you’ll want to make sure your potential rental property […]
Purchasing Los Angeles Real Estate as Income Property Read More »
What is a short sale? If you are having a hard time paying your mortgage and owe more than the property is worth, then you may consider short selling your Los Angeles home. What this means is that you would list the house at market price and work with prospective buyers until your come to
Short Selling your Los Angeles Home – Will I Have to Pay Taxes on Debt Forgiveness? Read More »
Statistics told us, that prior to Christmas of last year, Americans were doing a pretty good job of decreasing their debt, especially on credit cards, plus they were in a savings mode too But according to statistics recently released by the Federal Reserve, revolving debt (mostly credit cards) is up 5.1%. It is the biggest increase seen
How to Return to Good Financial and Credit Health Read More »
I ran across the following issue with a recent client. After running their credit, we discovered what appeared to be an error on it. Positive that it was indeed an error, they wanted to address the problem immediately. My suggestion to these clients was to do nothing … right now. I know. That sounds contrary to
Errors and Disputes on Credit. How and When to Move Forward Read More »
Previously, Part 1 of this post, “How Appraisals Can Affect Your Real EstateTransaction“ offered information regarding facts and details addressed and documented within an Appraisal report. In this post, Part 2, I will attempt to explain what “logic” is used to support the value reported by the Appraiser in their report. In today’s challenging mortgage underwriting, that logic has to hold up to
Understanding Los Angeles Real Estate Appraisals – Part II Read More »
Inevitably there’s a point during my conversation with almost every new mortgage client that the talk turns to the property appraisal. If the client themself brings up the topic, it’s an indication to me that I’m speaking with an educated buyer. That buyer has already done some homework regarding mortgages already … and that’s good. Typically, new home buyers and homeowners
How Appraisals Can Affect Your Real Estate Transaction Read More »
We often talk about different short sale incentive programs—HAFA, TAP, Bank of America Cooperative. Some of these programs also offer options and incentives for borrowers who are considering a deed-in-lieu of foreclosure. I do not write about deed-in-lieu very much, but thought it an appropriate topic since I have gotten a few calls and emails
A Los Angeles Foreclosure Alternative – Deed in Lieu Read More »
I had an agent ask me today about the tax implications of a short sale. He said that his seller was concerned about both the tax implications and future liability for the debt forgiven and was in the process of investigating both issues. Caveat: I’m not an attorney or an accountant. I don’t even play
Los Angeles Short Sales and Tax Implications Read More »
Is your child attending, or about to attend UCLA, one of the world’s top universities? Are you wondering where your baby is going to live? For ease, comfort and added security, buying a Los Angeles condo may be a good option. Renting a condo in Los Angeles, can be a daunting task. You are not
Is Your Child Attending UCLA? Thought About Buying Rather Than Renting? Read More »
I’ve seen the topic written about often. Real estate agents and mortgage lenders expressing that they are called upon to perform duties outside and beyond those typically associated with their professions. Real estate agents helping clients out in emergencies. Walking dogs. House sitting for repair appointments. Mortgage Lenders performing counseling of all types. Helping with
When the Identity Thief is Mom or Dad … Read More »
