PORQUE LOS PRESTATARIOS PAGAN SEGURO PRIVADO DE HIPOTECA?

PORQUE LOS PRESTATARIOS PAGAN SEGURO PRIVADO DE HIPOTECA?

Debido al riesgo en el incumplimiento y pérdida del préstamo. Los Bancos requieren el seguro de hipoteca privado conocido como PMI en PMI copyhipotecas cuyos compradores traen menos del 20% del precio de compra. Si los prestamistas pagaran seguro de hipoteca y pasaran el costo a los prestatarios reflejando un tipo de interés más alto, pudiendo esperar que los intereses incrementen drásticamente. Si el prestatario paga PMI estaría evitando este riesgo potencial.

Generalmente, cuanto más grande es la cantidad del préstamo, más riesgo adquiere el prestamista. El seguro de hipoteca privado es protección para el prestamista contra un prestatario que incumple en su préstamo hipotecario. Si el prestatario no pudiera pagar el préstamo, el prestamista tiene una manera de conseguir su dinero de regreso a través de la aseguranza privada al préstamo o PMI. Infórmate para que tus decisiones sean las mas acertadas al momento de invertir en la compra de tu casa.

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Two new regulations affecting Homeowners will increase energy efficiency standards.

Energy Efficiency

Every year, much of the energy the U.S. consumes is wasted through transmission, heat loss and inefficient technology costing American families and businesses money, and leading to increased carbon pollution.   Energy efficiency is one of the easiest and most cost-effective ways to combat climate change, clean the air we breathe, improve the competitiveness of our businesses and reduce energy costs for consumers.

The Department of Energy is working with universities, businesses and the National Labs to develop new, energy-efficient technologies while boosting the efficiency of current technologies on the market.

Increasing energy efficiency has been a long-awaited mission for The U.S. Department of Energy (DOE). This year the DOE launched two new regulations involving air conditioning equipment and water heaters that will increase energy efficiency finally accomplishing these goals.

1.  The first change involves raising efficiency standards for Air Conditioning equipment.

Two-thirds of all homes in the United States have air conditioners. Air conditioners use about 5% of all the electricity produced in the United States, at an annual cost of more than $11 billion to homeowners. As a result, roughly 100 million tons of carbon dioxide are released into the air each year, an average of about two tons for each home with an air conditioner.

Beginning January 1, 2015, new Seasonal Energy Efficiency Ratio (SEER) standards will increase from 13 to 14. The higher the SEER rating, the more energy efficient a unit is. For those not familiar with the term, SEER is calculated by dividing how much a unit cools by how much energy it uses during a typical cooling season.

There are many other alternatives that provide cooling with less energy use. You might also consider fans, evaporative coolers, or heat pumps as your primary means of cooling. In addition, a combination of proper insulation, energy-efficient windows and doors, day lighting, shading, and ventilation will usually keep homes cool with a low amount of energy use in all but the hottest climates. Although ventilation is not an effective cooling strategy in hot, humid climates, the other approaches can significantly reduce the need to use air conditioning.

2.  The second big change involves water heater replacements. This is an amendment to the  National Appliance Energy Conservation Act known as the 2015 DOE      Final Rule.

When the amendment takes effect on April 16, 2015, the DOE will require higher energy factor ratings on virtually all residential gas, electric, oil and tankless gas water heaters.

Hot water has become essential to our daily lives — from washing hands to cleaning dishes to showering — and quickly adds up to higher energy bills. It comes as no surprise that water heaters account for nearly 17 percent of a home’s energy use, consuming more energy than all other household appliances combined.

We are all guilty of using a little too much hot water in our daily lives — whether it is spending an extra two minutes in the shower, leaving the water running while washing dishes or washing clothes on hot water instead of cold. Taken together, these habits of wasting water add up. So it is no surprise that the average household spends $400-$600 a year on water heating — accounting for 14-18 percent of homeowners’ utility bills.

Homeowners need to be familiar with these new regulations to benefit from them, and avoid difficult and costly decisions in the future regarding energy efficiency standards.

 

Homeowners Pay Less for  Mortgage than Renters for Rent

Homeowners Pay Less for Mortgage than Renters for Rent

Paying a mortgage is cheaper than paying rent. But owning a home costs more.  The never ending debate…Is better to buy or rent?  This could be answered only after considering all of the expenses that contribute to homeownership.

The Bureau of Labor Statistics (BLS) says it’s cheaper to own. It has become less expensive to own. From 2009 to 2012, fueled by falling interest rates, ForRentForSalehomeownership has become more affordable, while renters saw costs go in the opposite direction, according to the BLS.

A recent report by Zillow found that current U.S. home buyers can expect to pay 15.3% of their incomes to a mortgage on the typical home – down considerably from the 22.1% of income homeowners had to budget in the pre-bubble years but renters pay today over 29.5% of their income to rent, compared to 24.9% in the pre-bubble period.

The main reason for the budget disparity is the income gap between owners and renters. At the end of the second quarter, the Census Bureau reported the median annual income in the U.S. was $53,216. But among homeowners, median salaries were $65,514 per year, while the typical renter’s income was just $31,888.

Fact or Fiction: Tax relief for homeowners’ on debt forgiveness.

Fact or Fiction: Tax relief for homeowners’ on debt forgiveness.

Congress is now back from its summer vacation, so the burning financial question on thousands of homeowners’ minds right now is this: Are you finally going to help the consumers who are underwater on their mortgages and have already accepted a principal reduction by their lenders? 20131125_fact copy

Under current federal tax law, when the homeowners accept reductions in what they owe, the amount forgiven by the bank gets reported to the IRS, and the owner is hit with taxes as if it were ordinary income.

The Mortgage Forgiveness Debt Relief Act of 2007 was created to help distressed homeowners; that were faced with taxes after a Principal reduction; however this law has already expired Dec. 31, 2013.

If Congress does not extend the law retroactively thousands of underwater homeowners could be hit with tax burdens they may not be able to handle. We hope for the Best!

Why NOW is a great time to buy a house!

Why NOW is a great time to buy a house!

There has never been a better time to buy a home; the advantage is on the buyer side. Buying is cheaper than renting in most markets. More people want to be homeowners, even younger buyers.  A recent Fannie Mae survey of younger renters and buyers finds out that younger renters prefer owning. They don’t want to be renters – 90% would prefer to be homeowners. Family Savings

Mortgage rates have dropped across all loan types including FHA loans, USDA loans, VA loans, and conventional loans backed by Fannie Mae and Freddie Mac, and 30-year rates are at their best levels of 2014.

Inventory is down but so is the buyer pool. That means prices may be coming down. You may well have less competition for homes right now, especially if you’re in the ultra-competitive first time buyer market. This means that your chances of finding a home—and getting it for the right price—look good.

Credit and affordability issues remain. If you are financially and emotionally prepared, it makes sense to write a check list of what you need to get approved for a mortgage; order your credit reports; get your FICO score; pay stubs and bank statements; shop for the best mortgage rates; cobble together a down payment; meet with your choice of lender, and find out what your monthly payments will be for the home of your dreams, then GO for it!

Luxury Homes!

Luxury Homes!

Luxury is a symbol of a particular lifestyle. It is a representation of a higher standard of living.  This is reflected and is often noted by the number and size of the rooms, specific décor, and other customizable features chosen by Luxury-Home-Interior-929the homeowner.

Luxury homes also boast interesting features not found in other homes. Some of these are customized to fit the wants and needs of the homeowner.

Examples of such features include: granite counter tops, crown molding, stainless steel appliances, and media rooms.

Most of these houses may include a formal dining room perfect for hosting large dinner parties and entertaining guests. They come in different shapes, sizes, and styles, so finding the right home for your money is extremely important. Everyone dreams of having a perfect home!   As always, a Realtor will  be able to take the time and search for the home  of your dreams!

Buying a fixer upper home: FHA-203(K)

Buying a fixer upper home: FHA-203(K)

Homebuyers and the FHA – 203 (K) Loans…What this means for you?

IfPhoto11 you are in the market to buy a home but it needs lot of repairs, then the FHA-203 (K) is the perfect loan for you.

These especial loans allow you to buy and repair a property that needs rehabilitation, such as roof, room addition, or any structural repair.

Lenders currently instituted additional offerings of loan programs like the FHA 203(k) home improvement program to include renovation expenses in their loan amount. One-time-close loans streamline the purchase and financing of new constructi

U.S. construction spending rebounds strongly

U.S. construction spending rebounds strongly

construction-spending-misses-expectations-falls-06U.S. construction spending rebounded strongly to hit its highest level in more than 5½ years in July.

Construction spending increased 1.8 percent to an annual rate of $981.31 billion, the highest level since December 2008, said the Commerce Department on Tuesday.

The housing market recovery is back on track after stagnating from the second half of 2013 in the wake of a spike in mortgage rates and higher home prices amid a stock shortage.

What matters the most…Home Prices or Low Rates?

What matters the most…Home Prices or Low Rates?

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Whether sales price is more important than the interest rate depends on your perspective. It’s pretty much impossible to time the real estate market, but you can try to take advantage of the way the market moves.

A dramatic rise in home prices can slow home sales even when mortgage rates are low if mortgage availability is tighter.  Banks prefer higher prices to recoup their capital from their bad bubble-era loans, so they are offering 4% interest rates to prevent prices from going any lower.

However, most buyers prefer lower prices, but since the banks make the rules which determine market prices, low interest rates and high prices are what we get.

Buyers who purchase during a period of high mortgage rates may get the boost in appreciation from declining rates.  Low mortgage rates build equity faster through amortization but slower by appreciation. High mortgage rates build equity faster by appreciation but slower through amortization.

You can’t always predict how the market will move. But you can watch it move and get ready, set…GO!!

 

California-Home of the Best High Schools

California-Home of the Best High Schools

California is home to nearly 600 Cal_High_School_01schools ranked among the 2014  U.S News Best High Schools.  One of California’s gold medal schools is the highly ranked  Oxford Academy,  which is located in the Anaheim Union High School District, about 25 miles from Los Angeles and roughly 400 miles from the state capital of Sacramento. U.S. News evaluated more than 31,000 schools for the 2014 Best High Schools rankings.