2017: The Focus Ahead

Some shocking numbers have just come in. It has been reported that total housing inventory dropped 10.8% in December to 1.65 million existing homes available for sale, the lowest level since the National Association of Relators (NAR) began tracking housing supply in 1999. Inventory decreased 6.3% from last year and has fallen for 19 consecutive […]

April Home Sales Surge, Foreclosures Drop

This just in: after disappointing March data, new home sales surged in April. The Census Bureau and the Department of Housing and Urban Development reported this week that sales were at a seasonally adjusted annual rate of 619,000. This is an increase of 16.6% from the previous month and 23.8% higher than in April of […]

A Reminder That Mortgage Fraud Is Still Alive And Kicking

There are people who believe that mortgage fraud is a thing of the past and that bad guys have either fled to other domains, or that they have been caught. However, recent events show us that mortgage fraud is pretty much alive and well, and that there are many willing to go to great lengths […]

Is It Time To Switch To A Fixed Rate Mortgage?

Adjustable vs. Fixed Rate Mortgage Making the right choice between a fixed and an adjustable rate mortgage depends on numerous factors, including your actual financial situation, the purpose you want to use the loan for and several other important factors as well. In what follows, we would like to explain how the two types of […]

End of Year Mortgage Tax Statement

Unlike rent, which you pay beforehand (i.e., your Jan. 1 bill covers your stay in the rental unit for that coming month), your mortgage payments are made at the end of your occupancy period. That means your Jan. 1 mortgage statement represents interest for December, making it a tax-break-eligible bill for this year. By accelerating […]

Mortgage Insurance Refund

Premium Refund: You may be eligible for a refund of a portion of the insurance premium if you: acquired your FHA loan after September 1, 1983 paid an up-front mortgage insurance premium at closing on your FHA loan and did not default on your mortgage payments AND are within a 36 month period from the […]

How To Shop For A Mortgage

Credit Check First, you should check your credit well before you begin hunting for a home, and work to increase your score if needed, or dispute errors on your report, since those can take time to rectify. You’re entitled to a free credit report from each of the three bureaus (Experian, Equifax and TransUnion) once […]

Home Buying Process in California

Patience and Preparation Buying a home in California can be an exciting, but intimidating process. If you are a first-time homebuyer, terms like mortgage insurance, counter offer and escrow can be enough to make you reconsider the upside of apartment living. However, with a little preparation you can glide through the steps of buying a […]

FHA Expert Tips from Maureen Martin in San Diego, CA

You can obtain an FHA loan for the purchase of a multi-family unit, single-family residence, and condominiums. Restrictions vary by location, so ask your FHA-approved lender for additional information. To protect yourself from predatory lenders, work with FHA-approved lenders only. You can become a victim of loan fraud by giving your personal information to the […]

How to Qualify for an FHA Mortgage

The Federal Housing Administration (FHA) has a loan to help both low- and moderate-income families with purchasing housing. All FHA loans are federally backed, and FHA lenders have been approved by the federal government to service the loans. Requirements Make sure that you meet basic FHA loan requirements. You must be able to meet most, […]