Tag: california home loans
How to Find Out Who Owns Your Mortgage
Who owns my mortgage? This a question I am frequently asked by people who are trying to refinance their mortgage or save their house from foreclosure. The answer to this question has become extremely important to many homeowners, and especially to those facing foreclosures or in financial trouble. There are many government and bank programs [...]
For Sale: 51 Don Quixote, Rancho Mirage CA – Rancho Las Palmas Country Club
[yframe url='http://www.youtube.com/watch?v=zqSQeiMVlBc'] 51 Don Quixote, Rancho Mirage, CA Bed/Bath: 3 br, 3.00 ba Property Type: Condo Square Footage: 2,187 square feet Property Subtype: Condo Attached Asking: $575,000 Cross Street: Don Quixote Dr & El Toro MLS: #21420948 Map: click here to view map See Picture Gallery Below Virtual Tour: Click here to view Virtual Tour [...]
Mortgage Rates Continue to Inch Up
For the second straight week, mortgage rates were on the rise, but still remain overall low, reports Freddie Mac in its weekly mortgage market survey. While interest rates for the 30-year fixed-rate still stand below 5 percent, rates inched up slightly this week averaging 4.86 percent. Last week, rates averaged 4.81 percent. Last year at [...]
For Sale: 341 Gran Via – Monterey Country Club – Palm Desert, CA
341 Gran Via, Palm Desert, CA Bed/Bath: 3 br, 2.00 ba Property Type: Condo Square Footage: 1,670 square feet Property Subtype: Condo Attached Asking: $525,000 Cross Street: Gran Via & Monterey MLS: #21423709 Map: click here to view map See Picture Gallery Below Virtual Tour: click here to view Nothing for sale compares with [...]
Field Poll: Quality of life plunges in California
Californians are bummed out. The Golden State’s residents rated their quality of life at its lowest mark in almost 20 years, citing the economic downturn and stagnant personal finances, according to a joint UC Berkeley and Field Poll. “Residents are reconsidering the image of the Golden State and showing more ambivalence toward it,” said Jack [...]
On-Line Interest Rates, Don’t Be Fooled!
On-Line Interest Rates, Don’t Be Fooled Many consumers turn to sites that publish On-Line Interest Rates, Don’t be Fooled by their Tom Foolery and deceptive practices! Recently @ERate began following me on Twitter, they’re profile reads in part: “…Providing Twitter Rate Alerts as Mortgage Rates adjust and Relevant Mortgage News and other Financial News” I [...]
Beware of New Mortgage Scam
Beware of New Mortgage Scam Beware of the new mortgage scam I’ve heard about recently. It happened in Nevada, but could happen anywhere. I’m surprised I haven’t heard of this mortgage scam before, it’s pretty slick! The new mortgage scam plays off the sale of mortgage loans. Banks buy and sell residential mortgages all the [...]
Does per diem interest affect refinance?
Dear Ed, I’m considering refinancing into a 15-year fixed-rate loan. I currently have a 30-year loan that was refinanced in 2005 for $120,000 at a rate of 5.375 percent. I’ve been making additional principal payments every month and the current balance is $95,000. My lender said it will refinance my loan into a 15-year mortgage [...]
Mortgage Points
When people want to find out how much their mortgages cost, lenders often give them quotes that include both loan rates and points. What exactly is a point? A point is a fee equal to 1 percent of the loan amount. A 30-year, $150,000 mortgage might have a rate of 7 percent but come with [...]
Mortgage Closing Date: Does it Matter?
On a purchase transaction, there is no financial advantage in closing on any day of the month, as compared to any other day. On a refinance, it is a good idea not to close on a Friday because it will increase the number of days in which you pay interest on both loans. And if [...]
For Sale: 351 Gran Via, Palm Desert – Monterey Country Club
351 Gran Via, Palm Desert, CA Bed/Bath: 2 br, 2.00 ba Property Type: Condo Square Footage: 1,800 square feet Property Subtype: Condo Attached Asking: $379,000 Cross Street: Gran Via & Monterey MLS: #21422784 Map: click here to view map See Picture Gallery Below Virtual Tour: click here to view Location, Location !!!This 300 plan,a [...]
Five Tax Tips, Tricks and Traps for Homeowners
Ask a roomful of homeowners what’s so great about owning versus renting, and you’ll hear them holler in unison: “the tax deductions!” And it’s true – homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns. That means that if you’re in a 28% tax bracket, Uncle Sam [...]
Coachella Valley Home Prices Have Fallen From This Time Last Year
Tepid demand, tight credit and bargain hunters seeking distressed properties have pushed down home prices across the valley compared to January 2010, real estate analysts said. The valley’s median sale price fell 15.7 percent to $181,250 in January compared to the same month a year earlier, San Diego-based DataQuick Information Systems reported. Price declines in [...]
When is the best time to buy a home?
Home Prices are back down where they should be! It is possible to buy a home and pay roughly the same per month as you would for rent on a similar house taking in account the tax advantages of deductible mortgage interest.** I could not afford to buy a home in 2001 at $410,000. I [...]
Existing Home Sales Down 40% in the Last 6 Months
Home re-sales rose another 2.7 percent last month, according to the National Association of REALTORS® monthly Existing Home Sales report. An “existing home” is a home that’s been previously occupied and is not considered new construction. The number of existing homes sold on a rolling 12-month basis is now at its highest point since May [...]
California Home Buyer Grants Available – CHF Platinum
The CHF Platinum Grant Program will give a California home buyer 3% of the loan amount to pay down payment or closing costs. This program is, at this point, perpetually funded with no pre-determined limit to availability of the down payment or closing cost assistance. The CHF Platinum program is being administered by the National [...]
Are 30% Down Payments in Our Mortgage Future?
Wells Fargo wants borrowers to put down 30 percent on mortgages to avoid a new requirement that will require mortgage lenders to retain five percent of the loan if it’s securitized, according to the WSJ. This so-called “risk retention” is related to new regulations required by the Dodd‐Frank Wall Street Reform and Consumer Protection Act [...]
Southern California Home Sales at Lowest Level for a January in Three Years
Southern California home sales at lowest level for a January in three years The median price in the region, $270,000, represents the first year-over-year price drop since fall 2009, driven by a shift toward sales of cheaper properties and foreclosures. Southern California’s housing market extended its slump as sales hit the lowest level for a [...]
