I am guilty of not following up on Google or Yelp reviews. So we started to look at old reviews and send a way over due thank you note for the reviews. I will confess I never look at Yelp … Read the rest
A Homeowner Confession (and One Practical Suggestion)
I’ll start with this: I know almost nothing about electricity.
Back in 1998, I bought a second home near Yosemite, stepped into an escrow, never even saw the place in person. Seemed fine…until … Read the rest
If you’ve been watching the real estate market in San Jose lately, you’ve probably noticed something confusing: Some homes sell in a week with multiple offers…
while others sit for 30+ days with price reductions.
So which market are we … Read the rest
“My neighbor got a 5.75% rate—why is mine higher?”
If you’ve been thinking about buying or refinancing, you’ve probably heard this before:
“My neighbor just locked in a 5.75% rate…”
And your first thought is: “Then why am I being
Many homeowners in San Jose are currently sitting on strong equity and hearing numbers like “you have $1.3 million in equity.” On paper, that sounds like a clear financial win, but after 35 years as a real estate broker and … Read the rest
I frequently post mortgage market updates and several people have asked me what is the UMBS that they see posted.
When you look at daily mortgage market updates like those from Mortgage News Daily you’ll often see a mix of … Read the rest
Your Reverse Mortgage loan funded and now all your debts will be paid off. What would you do next?”
For many homeowners, using a reverse mortgage to eliminate monthly mortgage payments or pay off credit cards brings immediate relief. Cash … Read the rest
The ongoing conflict in Iran is driving the mortgage market right now. Since mortgage rates follow the bond market, anything big happening globally like war will move rates quickly.
Normally, uncertainty (like war) helps lower rates. Investors tend to … Read the rest
If you’ve ever wondered “how does a reverse mortgage actually pay me?” you’re definitely not alone. This is one of the most common questions I get, and honestly, it’s where a lot of the confusion starts. So let’s break it … Read the rest
If you’re exploring home financing options as a senior homeowner, you have noticed that reverse mortgages carry higher interest rates than standard mortgages. Here are 5 reasons the rates are higher.
Unlike traditional … Read the rest
If you’re a homeowner with a low mortgage rate, but also facing a tough decision if you need cash. Many people automatically think refinancing is the next step, but in today’s rate environment, that move can be far more expensive … Read the rest
In a long career in real estate and lending, I have seen situations that still surprise me. Many of these stories involve intelligent, successful people who simply did not think through the legal or financial consequences of a decision involving … Read the rest
A reverse mortgage can function similarly to an interest-only loan if you choose to pay the interest, giving you flexibility while maintaining control over your home equity. Making extra payments accelerates balance reduction, which can help preserve equity for your … Read the rest
Most older homeowners know about the Reverse Mortgage Loan, but many still do not know about the Reverse Second Mortgage Loan.
I have completed several of these loans, and in all cases the clients were in their 70s. The traditional … Read the rest