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Maureen Lee's Advice

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Maureen Lee wrote:

How can I find out if a home pictured onyoursite is for sale or defaulted?

Answer
Many sites utilize MLS information and post for users like yourself to capture a lead and then sell to agents (that advertise).  Zillow is a great tool to understand market activity and past and current comps.  To buy a home...you want an experienced buyers agent that knows your market, schools, trends of the area, and the history of that specific market.  Call me!  I work El Segundo to Lakewood, PV to the 110 freeway. Maureen310.489.8166
October 15 2010
(0)

My house is upside down in value with the economy. How do I get rid of it and buy another?

Answer
Krista,You face the dilema of many home buyers in certain markets.  If you owe up to 115% of your homes value, there may be a government program coming out to help home owners with your situation.  In this link, it explains the program and BOA is considering it.  http://homeloanhelp.banko ... ment.htmlShort selling the home would be an option if you had a change in financial and personal situation that effected your availability to pay your mortgage.  Short selling is a far better option than giving the property back to the bank.[Contact info deleted by moderator]
October 15 2010
(0)

What kind of loan best for first time CA buyer?

Response
Today there are many 5% down conventional options and I feel this option is far better today than FHA due to the increace in the MI (mortgage insurance) premium from .4% of you purchase price to .9% as of October 4th.  As much as MIP went down, this was a cost you paid at the end of the loan period or when you sold the property.  Wells Fargo offers this (5%) program with very competitive rates as well as there are other direct lender brokers jumping in with this product.  It looks like you are an A++ buyer and have no issue qualifying at this $580k purchase level.
October 15 2010
(0)