If you bought a home with less than 20% down payment, or refinanced with less than 20% equity, you probably have mortgage insurance. Fortunately you can get rid of it. When, and how to do it, is a bit more complicated. Here are the essentials on removing mortgage insurance: Conventional Loans: The lender is required to remove the mortgage insurance … Read More

The May statistics (the latest available) for LA County, shows a median sales price of $560,500 for a single-family residence. This is a 6.8% increase from May of 2016. The rate of sales in the LA Metro area is up about 7% from the prior year. This means the real estate purchase market is still healthy. Mortgage rates have bounced … Read More

Quicken Loans has launched a new product call the Rocket Mortgage, which has been heavily advertised on TV. Is this product faster and easier than those of other lenders? Generally, no. But, it’s great advertising. Quicken touts a system that can get your employment information and bank statements directly, without your having to provide pay stubs, W2s and bank statements … Read More

The government recently published a report saying that many borrowers are paying too much for their home loans (over $13 billion too much). Typically, borrowers turn to their bank for a loan. It’s familiar, convenient and trustworthy. But, generally banks have a high cost for their brick and mortar locations. More and more smart borrowers look to professional mortgage brokers … Read More

We are well into the buying season for real estate. This usually starts in March and continues through September. Here in Southern California, with our warmer weather, we often see it last through November. I’m definitely seeing a pick-up in buyers looking for their first home. But, it’s a very tough market. There are too many buyers for too few … Read More

Some homes on the market have additions that have not been permitted with their city. Perhaps the addition was self-built or done with an unlicensed group. The addition is well-built and seems to meet code, but the homeowner didn’t want to go through the trouble and cost of having a city inspector come out and verify this, which would result … Read More

According to the L.A. Times, prices for homes climbed 7.1% in Los Angeles County in January compared to the prices in January 2016. The median priced home was $525,000. In Orange County prices only climbed 2.6% in the last year, but the median home is $635,000. The number of homes for sale is much lower than the number of families … Read More

With the April 18th personal tax return deadline just a few weeks away, the task of trying to get all of your information together in time may feel overwhelming or perhaps impossible. Fortunately, the IRS allows taxpayers to request a six-month filing extension, providing the request is received by the original filing deadline. However, while this may seem like a … Read More

(Excerpt from “Stay at 17 Inches” © 2016 Chris Sperry, Baseball/Life, LLC) Twenty-one years ago, in Nashville, Tennessee, during the first week of January, 1996, more than 4,000 baseball coaches descended upon the Opryland Hotel for the 52nd annual ABCA’s convention. While I waited in line to register with the hotel staff, I heard other more veteran coaches rumbling about … Read More

The large majority of homebuyers say that saving for a down payment is the biggest obstacle to their buying a home, according to a recent survey. Many buyers think they need to put 20% down to buy a new home. However, there are better options. Today you can buy a home for as little as 3% down, or in some … Read More