Freddie Mac Loan + Condo + California = The Homeowners Association Better Have Earthquake Insurance
If you are buying or refinancing a condominium unit in California and your loan is being backed by Freddie Mac, the development must have earthquake insurance or else you will pay a premium. Apparently, this Freddie Mac rule has been around since 1996. I have been...Earthquake Preparedness Tips: Blog Contributed by Kathy Sturr of Inside-Out Designs
I was in San Diego this past weekend visiting family when the 7.2 earthquake hit in Mexicali, which is ~130 miles from where I was. It was definitely one of the bigger ones I’ve been through and lasted a long time. For all of us, going through that is a reminder...Things to Consider If You’re Thinking of Refinancing
I just got a phone call yesterday from a 45 year old single mom of three. She heard that rates have gone down and she was excited about potentially refinancing. She has had her current loan (a 15 Year Fixed) since 2003. In 7 more years, her mortgage will be...Claiming Your First Time Homebuyer Tax Credit on Your Tax Returns
If you were a first time homebuyer in 2009 and you fell within the IRS tax credit rules, you can claim that $8000 tax credit on your ‘09 returns. The IRS has very specific rules on how to claim the credit though, and you will want to make sure you do it right. Your...Holding Real Estate Title: Slippery or Safe? (Contributed by Guest Blogger E.J. Hong)
This post is written by estate planner extraordinaire E.J. Hong. The way you hold title to your home is extremely crucial because it determines what happens with your ownership interest in the case of your death. I encourage everyone to set up a Trust because it is...Loan Calculator
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