Owner-Occupied Loans
Is it true that when if you get an Owner-Occupied Loan, you have to refinance when you move out? NO! Believe or not I have had a few clients think that this is the case. When you sign loan documents, the NOTE and the DEED of TRUST are the 2 contracts that you sign....
Quiet Week in Economic News
Mostly a quiet week in the bond market as all eyes were on China and Europe. China lowered their interest rates this week to try and stimulate their economy (the 2nd largest in the world), and the European Central bank (like our Fed) gave indications that they would...
This Weeks Win! 10-23-15
A doctor, yes an MD, who works for the County of LA as a surgeon, wanted to buy the condo he was living in. His rent was $2800, and he decided before rates go up, he should move. So in May he made an offer and deposited his $40,000 as earnest money. His offer of...
There Are Certain Fees that the Seller Must Pay in FHA and VA Loans
There are certain fees that the seller must pay in FHA and VA loans. FALSE! A realtor who has a long history selling homes in the South Bay asked me this week what their seller “has to pay” for the buyer. Her seller does not want to pay and they got an offer from a...