Finding a place to live can sometimes be a difficult task for uniformed military men and women and their families. That’s why there’s the Basic Allowance for Housing Program, more commonly known as BAH.
Recently I received a referral from a REALTOR partner, the client was looking to purchase an investment property but wanted to claim it as his primary residence so that he’d qualify for a lower interest rate (0.125% lower), and claim the California First Time Buyer Tax Credit. Can you say mortgage and tax fraud? Committing [...]
The average rate on a “jumbo” mortgage — a loan of more than $729,750 — has fallen nearly a point and a half in a year. It’s no surprise that the average 5.48 percent rate is prompting a wave of refinancings. According to the Mortgage Bankers Association, applications to refinance are now at a 13-month [...]
First time home buyers have a lot to consider this summer when making the decision to rent or buy a home: interest rates are at all-time lows, there’s still plenty of housing stock and prices are at or near their lowest in years. Still, deciding whether to buy a home or rent an apartment can [...]
Getting a no-cost mortgage can provide you with a big financial benefit as a potential homeowner. With most mortgages depending on the amount of the loan, you are going to have to pay somewhere between $4000 and $6000 in closing costs. Obtaining a new mortgage is typically a very expensive proposition. However, with the no-cost [...]
Half of Riverside County’s homeowners will see their property tax bills shrink this year as the region’s weak housing market continues to weigh down home values, county officials said today. How much is your property worth? According to officials with the County Assessors office this reduction in property value affects nearly 400,000 people in the [...]
The good times are gone for residential mortgage defaulters in the U.S. Fannie Mae has just changed the rules of the game for people who walk from their home loans, better known as strategic loan defaults. The government-owned agency that backs up loans from lenders says it will lock out borrowers from getting a new [...]
We have seen home buyer interest in FHA loans go from practically zero three years ago to upwards of 87 percent today. Despite this rapid rise in popularity, many buyers still do not fully understand the benefits of these loans, and we believe it’s time to change that. 1. FHA Loans Are Not Only For [...]
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Average Home Prices Slip in Coachella Valley
I’ve been reading a lot of information lately about our current market conditions from other REALTORS® who are claiming an increase is sales price and number of homes sold. I would scratch my head and ask where they were getting their numbers. Turns out their numbers are coming from national statistics. Real estate sales are [...]
Mortgage Debt Tax Relief Program Ending Soon
The Mortgage Debt Relief Act of 2007 the IRS would not come after you for your taxable amount if you had an upside-down unpaid principle as a result of loan modification, short sale or foreclosure depending on your tax bracket, let’s say you were $100,000 short on your mortgage you could be responsible for as [...]
Is your REALTOR® connected? No, I don’t mean in the MobWives fashion, if that’s what you thought, you’re watching too much reality TV. As an active Palm Springs REALTOR® I believe it’s important to take advantage of the technology available to today’s real estate professional. Everything that required an agent to go back to the [...]
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