1. Refinance with Your Current Lender or a New Lender
Okay, listen closely - rates hit another low this week, so do this
now. Even if you refiâ€™d six months ago, it might be worth it to do it
again. First, call your existing lender. Banks can drop a rate with
just a phone call.
Second, go to a mortgage website like LendingTree, Zillow Mortgage
Marketplace, or QuickenLoans, and let lenders fight for your business.
A lot of these â€œinternet lendersâ€ have much lower rates than the big
guys. Itâ€™s a competitive business - may the best rate win.
This goes for buyers too - you shop for the best home, right, so shop
just as hard for the best rate.
2. Get the County to Lower Your Property Taxes
This one is a gold mine. If your property value has dropped (duh), you
can pay less tax, and even get a refund on taxes youâ€™ve already paid.
First, see if your property is being automatically assessed for a
decline in review here:
If itâ€™s not getting dropped automatically, you can file a request
using this form:
Finally, if youâ€™re serious, hire an attorney to go before the
three-member â€œAssessment Appeals Boardâ€ and argue your case. Tax
appeal attorneys only charge about a third of what they save you, and
if they donâ€™t get your value reduced, you donâ€™t pay (call me for a
referral for the guy who saved me $3800 this year on one building - I
was very happy to send him a third of that!).
3. Raise Your Rents
Rents are through the roof in LA County. If you live in a multi-unit,
or have a back house, serve your legally allowable 3% increase now.
You can also ask for another 3% security deposit. Go to
http://www.evict123.com/forms.htm for the forms or call me.
P.S. Receive a free list of foreclosures in your area, all prices ranges, with pictures, maps, address, descriptions:
P.P.S. The average time to foreclose in California is 320 days, down from 352 days in the fourth quarter of last year.
P.P.P.S. If you own ANY property, you need to be REFINANCING EVERYTHING NOW!
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Thanks for reading and forwarding to friends and family.
Brock Real Estate
DRE License # 01511068
2235 Hyperion Ave. Los Angeles, CA 90027
cell 213-842-7625 fax 323-644-9387