Hello Teresa! Have you found that perfect home yet? Getting pre-qualified may sound difficult but it is very easy. My company and I can take care of all your concerns and needs. WE can prequalify you then work with you to find that perfect home for you! I'd love to answer any and all questions you may have. Please feel free to call me anytime.
Coldwell Banker Kivett-Teeters
BRE Lic.#01936003... more
I had a short sale last year and my Realtor recommend http://www.cfs-mortgage.com/flex for a home loan. I am very happy to be able to purchase again.
CFS Mortgage assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.... more
There is not much low rent in Grand Terrace. Why rent when you could buy with minimum 580 fico score and only half percent down. You have to have your credit ran to rent so why not buy if your fico is minimum 580? Rentals are first, last and security and purchase half percent down is only $650 down on the $130k house and the payment is $950PITI on 3%-4% FHA Access 30 yr fixed rate. I need a few minutes of your time to go over a few dozen questions. Here is what I found in Grand Terrace to rent in this link.
Click the following URL to see the Listings for rent up to $2,000:
The condo's and townhomes have association dues which vary condo to condo and twnhs to twnhs so I can't estimate a payment without knowing which ones interest you. Let me know if your intersted in renting or buying? I can get you approved. I also offer credit repair at no charge to get your fico scores raised. Let's see what options we can offer with your credit...
Last year, all big lenders were taking around 60-days to close. That's not the case anymore. I would go forward with your lender of choice. You certainly want to ask them what their cycle times are currently. You would ask any lender that question.
Under Proposition 13, a measure passed in 1978 that limits property tax increases, the sale price of a home is generally used to set the homeâ€™s base value and subsequent property tax assessment. Proposition 13 also ensures that annual assessments will not increase more than 2 percent each year.
The tax rate in California is calculated annually based on the assessed value of the land and improvements. Upon transfer of ownership, the assessed value will be reset to the sale price which can result in a substantial change in the taxes assessed.
Prop. 13 limits the general property tax to one percent (1%) of the assessed value, plus an amount for the debt service on any bonds approved by popular vote also referred to as mello-roos, 1915 Bonds and/or special assessments. Your adjusted base year value is property's base year value adjusted by an annual inflation factor, not to exceed two percent (2%) per year.
KEEP THIS IN MIND
â€¢ In most cases, property taxes are assessed based on the sale price, and most often, the sale price is consistent with other comparable homes in the area. However, consumers need to be aware that purchasing homes at deeply discounted prices, especially those that are heavily damaged, does not necessarily mean that the property tax assessment will be based on the sale price. In those instances, property taxes often will be assessed based on the value that the appraiser determines to be the full-cash value. If a buyer has to invest a significant amount of money into the property to make it livable, the amount invested often is added to the sales price to establish an accurate property tax assessment.
â€¢ A separate measure, known as Proposition 8, allows a homeowner to request a temporary property tax reassessment, which can result in lower property taxes. This proposition is most-often employed by buyers whose home values have declined in the current market.
However, Prop. 8 require that homeowners whose properties are reassessed must have the home reappraised each January, to determine the current home value and that yearâ€™s property taxes. Because the reduction is temporary, it only stays in effect until the property tax assessment is equal to the assessment the homeowner would receive under Prop. 13. Also, Prop. 8 does not limit the annual increase to 2 percent, which can result in the homeowner paying the same amount of property taxes in the long run, as if they had not received the reduction.
Your tax rate will vary depending upon where the property is located. Please check with the county to verify the amount of property taxes you will be responsible for.
It concerns me that you were not made aware of your property tax liability prior to the close of escrow on your property. It is the seller's responsibility to disclose to you any mello roos and 1915 Act Bond Assessments and Supplemental Taxes as required by California Civil Code Sections 1102.6b and 1102.6b. You should have received and signed a California Property Tax Disclosure Report during your escrow timeframe.
Hope I helped even though this should have been made known to you prior to you taking ownership. Good luck!
News headline from February: Mortgage Forgiveness Debt Relief Signed Into Law - Some relief for those sellers considering working with their mortgage company on a "short sale": http://www.realtoractioncenter.com/mortgagecancellationsummary.doc Good luck!... more