A Quick Rundown of Credit Score Ranges
Thursday, 12 January 2012
“Do you know anything about credit scores? My credit score is 872 but I heard the highest possible score is 850…” Answer: Congrats for having such a high score. But you’re right in that the maximum score for home loans is 850. There are 3 types of FICO scores with their own ranges of possible
- Published in FAQs, Real Estate Tips
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What Happens to the Lease When Selling Your San Diego Home
Monday, 09 January 2012
“Hey Gary. We want to sell our parents’ old La Jolla home in the Muirlands area. The thing is it’s leased through the end of July. If we sell, what happens with the lease? Do you think a buyer will just take it over?” Answer: Leases “run with the property,” not the owner. That means
- Published in Home Selling, Real Estate Tips
Should You Agree to a MERS Foreclosure?
Wednesday, 04 January 2012
“I have been receiving your newsletter via email for some time, and have received some really good information, very informative – Thank you. I was approved for a modification and they’re asking me to sign something agreeing that MERS has all rights to foreclose, etc. I want to ensure I am not signing my life
- Published in FAQs, Home Financing
Don’t Let Fluctuating Prices Control Your Decisions
Monday, 02 January 2012
“I could have sold my San Diego home in 2005 for $600,000, but now it’s only worth $475,000. I don’t want to take such a big loss.” Answer: (Question from reader who paid $290,000 for his home in 1998.) You need to have a short memory. What you could have gotten was an unrealized number
- Published in Home Selling, San Diego
Have FHA Loans Become More Expensive?
Thursday, 29 December 2011
“I heard FHA loans have become more expensive. Is that true?” Answer: They’ve become both more expensive and cheaper. How could that be? Several months ago, HUD (Dept of Housing and Urban Development) changed how they charge the “MIP” or Mortgage Insurance Premium on FHA loans. The upfront premium due at closing has been trimmed
- Published in Home Financing, Home Selling, Real Estate Tips
Should You Go to Where You Bank for a Mortgage?
Friday, 23 December 2011
“Do you recommend I go to where I bank to get a mortgage? Will they give me some kind of preferential treatment?” Answer: The answer would have been “yes” 50 years ago. However, today it’s very rare for a bank to give any significant benefit to one of their customers who gets a mortgage. Call
- Published in FAQs, Home Financing, Real Estate Resources
Finding the Value of Your San Diego Home
Tuesday, 20 December 2011
“We need to sell our home and my husband wants way too much for it. There have been several homes sold in our neighborhood that show what our home is worth. But my husband keeps pointing to two high sales to justify his price. One sold 10 months ago and is almost a mile away.
- Published in Home Selling, Real Estate Tips, San Diego