I was just approached by a potential buyer, enquiring about a Los Angeles home for sale. My first question to her was whether she had spoken to a lender. Her answer was no. I told her that she needed to do that before starting the process of buying a Los Angeles home. Her answer: “I […]
I Don’t Want to Talk to a Lender. I Want to Find a House First 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 »
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 »
As usual, Gene Mundt, a Chicago mortgage lender offers excellent advice which Los Angeles home buyers can take advantage of. Today, I want to address 3 things that seem to crop-up frequently when working with home buyers … and that’s … Rumors, Reminders, & ‘Rithmetic! Rumors first, as I believe misconceptions and untruths can scare potential
Today’s Mortgage Lesson: The Three R’s. Rumors, Reminder, and ‘Rithmetic Read More »
Today, at the monthly NAHREP (National Association of Hispanic Real Estate Professionals) meeting in San Marcos, California, I had the pleasure of speaking about short sales. After the meeting, Ken Davis approached me and asked me about mortgage insurance. Short sale aficionados (or should I call them short sale suckers?) already know that mortgage insurance
What do Mortgage Insurance and Magic Have in Common? Read More »
With nearly 800 HomePath properties available here in Los Angeles & Ventura counties and more than 50 more coming up soon, I get numerous calls/emails asking me about these properties. And now, Fannie Mae has special incentives for owner occupied buyers to provide 3.5% towards their non-recurring closing costs. Just this week, I’ve already received
What is a HomePath Property and How Can I Buy One? Read More »
Tick…tick…tick That’s the sound of time slipping away on lower-priced mortgages, smaller-downpayments, lower interest rates, and cheaper closing costs. Getting worried? If you’re a first-time buyer … or live in a high-priced region of our country … maybe you should be. As of April 1st and after … there are many things in play
Los Angeles Mortgages are Still Low – Don’t Miss your Window of Opportunity Read More »
Gene Mundt is a mortgage banker with Chicago Bancorp in Chicago. He writes extremely insightful articles on the mortgage industry. Much of what Gene writes is universal and relates to the Los Angeles home buyer. Today, Gene talks about the language of real estate financing. If you are buying a home in Los Angeles you
Understanding the Language of Real Estate Financing Read More »
A recent article in the Los Angeles Times addressed the interesting topic of whether you should pay off the mortgage on your home early. In today’s roller coaster ride on the stock and housing markets people are worried about their monthly expenses. There is no security in holding the debt of a mortgage on a
Should You Pay off Your Los Angeles Home? Read More »
