Refinancing in California usually takes longer than in other states—and that’s by design. California has strong consumer protection laws that add required steps, including:
A customer asked me to send a simple explanation of depreciation for a rental purchase. Here is what I sent.
(A Home Improvement Cautionary Tale)
Years ago, I was standing in my kitchen, looked into the family room, and had a realization no homeowner wants to have: “A guy could be standing in there and I wouldn’t even see him.” … Read the rest
Sometimes, things just go perfectly.
Today, a Realtor I hadn’t seen in quite a while stopped by the office right at noon. He told me he was in contract representing a buyer—and that his client had already been turned down … Read the rest
Why Having Someone Who Can Be Both Can Really Help I talk with a lot of homeowners and buyers, and one question comes up all the time: “What’s the difference between my Realtor and my lender… and why do I … Read the rest
In California, there is an important legal and practical difference between hiring a licensed contractor and a handyman for residential work. Homeowners are often surprised to learn that choosing the wrong one can create liability issues, permit problems, and resale … Read the rest
I’ve been involved in credit and lending since 1968, and at one point I even taught an 8th-grade class on financial and credit management. Over the years, one thing has remained constant: maintaining strong credit is essential for long-term financial … Read the rest
Refinancing a mortgage can lower your monthly payment, shorten your loan term, or help you access cash for improvements and other needs. But before a lender can approve a refinance, there is a clear workflow every loan officer follows. Understanding … Read the rest
If you’re considering a reverse mortgage in California, it’s important to understand the “hidden income test” — the financial assessment lenders use to ensure you can sustain your home long-term. While reverse mortgages don’t require monthly payments, borrowers must still … Read the rest
I tell those who ask about buying in San Jose that now is not the time to buy; but, get ready. It seems like this economic misery has been with us forever but it has only been a short while … Read the rest
A customer sent me an email asking when is it a good time to buy. Instead of re-writing the contents here is the email I sent to him.
Well, for an individual buyer the rate is determined by a lot of factors: primary home or investment home, loan size, Loan to Value, credit score, credit history, debt ratio, type of income, job history, job stability, w-2 or 1099 … Read the rest
The Wall Street Journal today has a front page article Fed Hikes Don’t Go Far Enough For Some Investors. In the article there is a quote from an analyst “When you’re looking at where deals are pricing, it is simply … Read the rest