Sunday, February 07, 2010
Many homeowners have not had their paperwork worked on. In most cases, the banks only respond that they may have been lost. They claim they did not receive any paperwork. They keep encouraging owners to file new paperwork with no guarantee that the new files will not be discarded to the slush pile. No wonder that many people get discouraged. What is the point of having to hit the wall all the time?
Even some community workers just quit their post because they can not show the results they thought were possible.
In some other cases, banks hold onto the foreclosed homes long after they were put on the market just to slam the walk-away owners with heavy taxes on the principal. Despite all the money the Federal government gave to them, these banks are not working with the public.
Monday, November 02, 2009
The recession and mortgage crisis have created some bad situations for homeowners. For a long time, owning a home was seen as a way of creating wealth over time. The recent bust in the housing industry has caused many families to go without or to lose their nest eggs. No longer are they able to take cash out to meet their needs.
A HELOC is a good choice to meet ongoing cash needs, such as college tuition payments or medical bills. A HEL is more suitable when you need money for a specific, one-time purpose, such as buying a car or a major renovation.
Comparing the costs
Both HELOCs and HELs usually carry a higher interest rate than that of a first mortgage. With a HEL, you may choose either an adjustable rate that fluctuates according to variations in the prime rate, or you may opt for a fixed rate. A fixed rate enables you to budget a set payment monthly without worrying about increasing costs should interest rates rise. With a HEL, there are also closing costs that you should consider.
A HELOC usually carries a lower initial interest rate than a HEL, but its rate fluctuates according to the prime rate, so there is more interest rate risk. Unlike a HEL, where your monthly payments are a set amount, a HELOC enables you to borrow funds as needed and repay as little as interest only each month. In addition, there are generally no closing costs when you open a HELOC.
Monday, December 11, 2006
What should you keep in mind? Both developments offer great features, standard lots that come with oversized backyards. So if you feel like putting in a swimming pool later, it is not going to be a problem. Believe me, after you spend two or three Summers, a swimming pool is one of the extras you will want to add to your house. I have seen many buyers of these homes also create a one-of-a-kind backyard living space. If you want to entertain the family members and football crowd in the back yard around your new BBQ, you will have ample space. Now, how about the floor plans? You will find a collection of seven deisgned floor plans that go from 1,780 to 3,440 square feet with as many as 6 bedrooms and 31/2 baths.
Why you should buy at Treviso and Loma Vista? Find out why at Exquisite Mcmillin Home Owners' Club home reviews.
Saturday, October 14, 2006
Small Homes on Small Lots Are Getting Chic: How Would You Like To Live in a 3,000-square-foot Home on a 4,000-square-foot Lot?
Most parts of California are still the frontier of real estate. They have lots of arable land, farmland that is not for sale. Preservation groups are trying hard to buy them up to prevent them from being swallowed up by advancing progress brought by developers and national builders. But with the recent increase of most California populations according to the recent survey, there will always be a need to build more homes in the state. More and more people will need shelter. This need is understood in the context of the internal migrations forcing people from the Bay Area, Orange County, for example to relocate to more abundant space and cheaper housing found in the heart of California farmland. What is clear is that these migrants bring with them a certain lifestyle and modus operandi. When they move to the Sacramento counties, they fall for the small lots developed by builders such as KB and Beazer homes. Nowhere is this lifestyle shown more pronounced than in El Dorado, Placer, Sacramento and Yolo counties. In the fast-growing Natomas community which is North of downtown Sacramento, it has become cool to live in a small house. For the most part, that is good news for the equity refugees of the Bay Area who come with lots of cash on hands after selling their homes. Because land in the Sacramento region is expensive, builders are compelled to squeeze as many houses as they can on small lots. That is why they come up with 3,000 square-foot homes for which buyers have to pay top dollars. Go to El Dorado, Placer, Sacramento, Sutter, Yolo and Yuba counties, and you will see what type of impact young families are having on the landscape. Being used to the urban lifestyle, they do not complain too much about buying a small home. Smaller-lot homes are great for first-time homeowners in the Sacramento counties. That does not mean the end of huge lot home has arrived. Those who want it will have to fork over a lot more money. Is this something we are going to see in the rest of the state? Maybe, forces of the market will correct things up. As the housing market cools down, there may not be any upcoming lottery to buy lots in advance. Some builders and developers are reportedly getting rid of too much inventory and land space. In the Central Valley of California, to avoid paying high taxes on the land they hold, many builders are irrigating the dirt to give the semblance that the land is still reserved for agricultural purposes despite the huge signs inviting visitors to purchase parcels. What land experts are happy about is the fact that land is finally used efficiently.
Wednesday, October 11, 2006
I went to New York this past Summer from Boston, Massachussets. What is clear is that New York is a diverse place. Its diversity is unmatched. From the people and the communities to the accommodations and attractions, there is nothing like the Big Apple. I traveled to New York by Bus. I took a bus from Boston Port Authority to New York Port Authority. If you are not careful, you can get lost right there. The first thing you will notice as you step out of the Port is the sea of people who are going up, across and down. Food, traffic, skycraper and neons are everywhere. On every corner you turn, you will find a restaurant. Sometimes, you will run into various ethnic cuisines. After all, ethnic groups make New York what it is today. Officially, the City has nearly 18,00 restaurants. I do not think anybody will ever know how many eateries that exist there. Some of the big-named restaurants are Tavern on the Green, 21 Club, Four Seasons and Broadway-favorite Sardi's. You will find a lot of foodies in what New Yorkers are calling "restaurant row." Since it was my first trip to New York, I somewhat lucked out because I sat next to a young CBS technician from Boston. He started giving me a tour of the city from the bus. We talked about some of the common things we have interests in. The love of music and adventure traveling existed for both of us. The native Bostonian who went to school and is working in New York did not hesitate to show me around after we got off the bus at the Port Authority. He made sure to take me to some of the hottest restaurants in town. He said they are located above the popular Meatpacking District.
What else can one do in New York?
Vibrand and bright, Broadway is all I have read about. Some of the hit shows that draw a lot of people are: The Producers, The Lion King, Hairspray, Phantom of the Opera, Wicked, Disney's Tarzan, the Odd Couple, Jersey Boys, Musicals such as Chitty Chitty Bang Bang etc. I had the chance to visit the Metropolitan Museum of ARt, The Guggeheim, The Whitney and the Museum of Modern Art, the Intrepid Sea, Air and Space Museum. I also attended some concerts in the park and in Washington Square. You can shop until you drop. New York was made for shoppers. It is the best and most expensive place to shop too. Shopping at New York's Macy's, Tiffany's, Bloomindale's and Saks Fifth Avenue is a common thing to do for every vacationer. If you want to buy great souvenirs, you want to go to these places. If you want to save, you want to shop at the curb shops. There are as many shopping options as there are people to think and create them in New York. Each shop owner is more determined than the last one to prevent you from leaving his/her store without having a good deal or closing the deal. Go to Soho to shop at these original boutiques of mega fashion designers. If you want to shop in New York and have the time to go with it, you can find anything from anywhere in the world. My friend took me to Henri Bendel's and Barney's. Then we visited the Rockerfeller building where NBC studios are headquartered. I visited the NBC shop to buy some souvenirs and ended up chatting with the clerks who commented about my California accent. They do have a New York accent. I could not leave for the day without visiting one of the newest shopping destinations in New York. The Shops at Columbus Circle in the Time Warner Center has more than 40 shops and restaurants.
How do you get around in New York? No Worry, Be Happy!
Keep in mind that things appear to be very close in New York. If you are healthy, you can walk your way around. If you do not want to walk, you can always take a cab. New York is famous for its taxi drivers. Soon, you will be comfortable with the Subway system. That is the easiest way to travel in the city. You will notice that everybody rides the subway. It is the most efficient and fastest way of traveling in New York. No matter what you do, make sure to visit these classic centers of attraction. Keep in mind that New York is a city that has many landmarks. Visit the Empire State Building which is one of the most prominent monuments in the city. Ferry trips to the Statue of Liberty Island have been running. You can visit Liberty Island and the museum inside the base of the statue. A trip to Liberty Island will take you to Ellis Island which is a monument to all immigrants seeking freedom and rights. Do not leave New York without visiting Manhattan's Times Square which will stimulate all your senses. It is a marvel of neon and lights that all living creatures like. Visit the jungle in the heart of the city, Central Park with its acres of grass, trees and other greenery. It is the favorite recreation and relaxation areas in the city. Finally, the site where the World Trade Center stood is being redesigned as a memorial park as well as a proposed Freedom Tower skyscraper that will replace the fallen twin towers. There was not much to see when I visited New York. So my friend said it was better to come back when all the redesigns are over.
How homeowners' info got to the public: Property purchases are recorded in the county Recorder's Office. They are open to the public perusal. There is not much that anybody can do about it. So owners of small businesses get this trove of information about you in their laps. That is why that weeks and days before you move in and months after you have been settled down, you will receive unsolicited direct mailings from them. They imagine that you must have some money to buy a house and do all the other works that need to be done. Their reasoning is that you must have some more money that you can spend on landscaping, cement work, flowers, plants, blinds, paint and pavement. What I hate the most are the drive-bys. Owners of landscaping businesses usually wrap their ads and include a rock to be able to throw them onto your lawn and driveway. If you happen to be on vacation, all this trash is left there. The neighborhood you choose to reside in will welcome with ads announcing the multiple businesses that are waiting for your hard-earned dollars. From the pizza parlors, the local dentist, restaurants, satellite TV provider, real restate companies and agents asking you to sell and use their services to the local church, everybody wants you to know they are around and want your business. This is a phenomenon that occurs anywhere in the United States of America.