“When I was a kid in the 60’s, my dad was in the navy and we moved a lot. When we sold a home, my mom baked bread when people were coming to look. The whole house smelled great and my folks said it helped with the sale. Now I’ll be selling soon, but I […]
What does Mortgage Insurance pay for?
Mortgage insurance is generally required for home loans with a “loan-to-value” ratio of over 80%. The insurance protects the lender (NOT you) should you lose your home to foreclosure.
Now, to avoid paying high mortgage insurance premiums, “80-20″ loans are becoming very common. A lender makes a 80% loan-to-value […]
What about cracked slabs?
“I saw a home I loved in West Clairemont, but there was a crack in the slab. Should I avoid buying a home with a cracked slab?”
***ANSWER:
Some cracks are very serious and cost thousands, tens of thousands, or even hundreds of thousands to fix correctly.
Other cracks are more “cosmetic”, […]
We’re beginners in the San Diego home buying game. Can you give us some tips on deciding how much to spend on our monthly mortgage payment?”
***ANSWER:
I want you to come up with 2 monthly payment figures.
They should include loan payment, taxes, insurance, and possible HOA fees, Mello-Roos fees, or mortgage insurance. Be sure […]
“Hi Gary. I have 24 apartments in City Heights. They’ve been a headache lately and I’d like to get out of them into something else. Is it true that you have to buy up to do a 1031 exchange?”
***ANSWER:
Almost. While you do have to buy up to do a full deferral, just buying up […]