New Homes and Mortgages — No Income Loans, Market Update

REAL ESTATE NEWS (Los Angeles, CA) — Mortgage Volume is Down: Just a quick note to update you on what we are seeing in the mortgage marketplace currently. According to Don Maher of Universal Capital Mortgage Corporation, volume is down about 40% since this time last year. But you know who is buying? Those who couldn’t qualify last year due to income. The new No Income / No Employment verification program is the most popular loan now. A home buyer just closed one at 7.49% for a 30 year fixed, owner-occupied with only a 1% loan origination fee. No income or employment stated on the application, and no debt ratio calculated. That’s better than most bank statement programs. This requires good credit and reserves, and a minimum of 25% down. So, it’s great for retired people, newly self employed or people with complicated tax returns. Borrowers can do cash refis as well, and 2nd homes are also allowed. | QUESTION OR COMMENT

NEW HOMES — Save $25,000 GUARANTEED on a new home, get home buyer protection, and a free 2-year home warranty at no cost to the buyer for a limited time. Visit www.Save25Grand.com

Get a free list of new homes for sale. Fill out the online form:

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker. | QUESTION OR COMMENT

Los Angeles Property Sold at Auction by Probate Authority

Probate sale can often provide an extra good deal for home buyers with patience.

REAL ESTATE NEWS (LOS ANGELES, CA) — When someone passes, and there is no living trust or method to automatically pass the property on to an heir, the local government steps into appoint an administrator, or to sell the property at auction. Here is a link to the L.A. County FAQ page with details covering this process.

A savvy home buyer or investor can participate in the sale of probate properties find out more from this link on the LALoftBlog.com

The L.A. Loft Blog has been notified by the Public Administrator and Guardian of real property available through public auction. The properties are available as is, where is, and are subject to confirmation by the Superior Court. All sales are governed by the California Probate Code. The purchase documents, plat maps, preliminary title reports, and additional photos are available.

The sale process has many stages, and can often take six months to three years to complete. Be prepared for a long wait. Work with an agent who has the probate experience and connections to experienced probate attorneys, to help navigate the process and explain the types of delays that the home purchase may encounter.

Have you purchased a probate property? What was your experience? Comment

Fill out this online form for leads on available auctions, probate, foreclosure and distress property sales.

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

 #probate #auction

Probates sales usually require court permissions.

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. EAC220071802KT Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.