How to dispute an error on your credit report?

How to dispute an error on your credit report?

It is our job as mortgage professionals to keep our clients informed about the potential threats an error on their credit report can have on their loan approval.  Many times our clients are unaware of collections or disputes on their credit report and we have to scramble to at the last minute to help them.  This article will help our clients take preventative action on their credit reports before they get into their next loan transaction.  

How can homeowners take advantage of the real estate market in 2014?


Southern California has seen home prices appreciating at steady levels in recent years.  It may be great time to look at some of the new opportunities that are presenting themselves to current Southern California homeowners in 2014. 

Back in 2011 & 2012 we had some of our clients purchasing homes with great rates and reasonable home prices. However, their intention was to move into a larger home for their growing families. With the the strong housing marketing over the last few years, it has provided some homeowners with a great opportunity to take advantage further increasing home values. Cashing in on the larger equity position allows them to put more money down on larger homes, while keeping their monthly mortgage liability affordable.  

Another scenario where increasing home values have applied to our clients are homeowners that were not able to refinance based on your homes value in 2012 or their mortgage did not qualify for the HARP refinance.  If you see on the chart I have provided you will see that the San Gabriel Valley area has increased 15% in median sales price from 2012 to 2013. Just because your home has not been upgraded or landscaped does not mean the value has not increased. Whether you are saving $100 or $500, the long-term savings of refinancing now could mean thousands of dollars in your pocket. 

Inquire today, so we can help you save for the future.  

Feds Keep the Party Going


The long awaited FED meeting has arrived and now those of us in the mortgage and real estate business can take a deep sigh of relief. Contrary to popular belief, the Fed’s announced that they WOULD NOT begin tapering their purchases of bonds. The Fed stated that they wanted to “await more evidence that progress will be sustained”.

berOver the last 4 months the market has wrestled with the anticipation that the Federal Reserve would “Taper” their purchase of mortgage backed securities. When the FED’s talk about “tapering” they are essentially stating that they plan to reduce and eventually eliminate the current purchase of mortgage backed securities.  It was those policies that led to record low interest rates for borrowers that sparked one of the largest refinance booms in history and still a prevailing force in the housing recovery. Over the last 4 months, mortgage rates have increased steadily with no real tangible reasons as to why, other than speculation.

“Taking into account the extent of federal fiscal retrenchment, the Committee sees the improvement in economic activity and labor market conditions since it began its asset purchase program a year ago as consistent with growing underlying strength in the broader economy,” the committee wrote. “However, the Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases.”

After the Fed’s statement today mortgage rates decreased substantially and the overall consensus is that there may be even more gains to realize.

So what does this mean for you, the consumer? If you are currently a homeowner who didn’t take advantage of a refinance into a lower rate, this may be a great opportunity to lock in some savings. If you are a buyer in today’s market this may be a great time for you to make that push and get your offers accepted. Locking in a rate that is approximately .25% lower could lead to tens of thousands in savings over the life of your loan. 

Rental Increases are Slowing


Apartment rent prices grew significantly in 1Q, but it’s starting to look like the leverage that landlords once had could be diminishing as an increased supply takes over the market and the single-family housing market replenishes itself. 

The average monthly rent in the United States is currently $1,054 – which is up half a percentage point from last quarter and up 3.4% from a year ago at this time.  Ultimately, this represents the slowest growth since the end of 2011.  The nation’s vacancy rate fell 0.2% percentage points.

In the past several years, landlords have been collecting a solid profit due to a steady supply and demand from consumers who didn’t want to buy homes.  Since late 2009, rental rates have increased by almost 10%. 

With the housing market having made a comeback over the past year, we’re now seeing a large majority of renters who have turned into homeowners.  The new unit supply continues to increase sharply as time goes on.  That being said, analysts are concerned that the multifamily apartment sector may have already reached its cap, due to the fact that there aren’t many opportunities to push rent.

Real-estate investment trusts that have apartment buildings or complexes performed worst out of all the REIT sectors in 1Q.  In general, REITs had a 7.9% return while apartment REITs decreased 0.03% in 1Q. 

Wichita, Kansas is still the nation’s least expensive market with rent averaging $520 a month; New York has the most expensive market with rent averaging $2,989 a month.  Nashville, San Diego and Seattle all saw impressive 1Q rental gains.  Overall, 79 markets saw rent decline during the first quarter.

But still, the nation is concerned about overdevelopment.  This year, the nation’s fifty-four biggest metropolitan markets are forecasted to build 150,000 new units and an additional 300,000 units up until 2015.

Call today for Today’s Interest Rates (626) 786-5512.

*Original article Rent Rises are Slowing published on