Description: Mortgage brokers play an important role when it comes to refinancing. They can offer you a cheaper rate than what the banks or credit unions can offer.

When you are thinking about refinancing your existing mortgage for any particular purpose, there are a number of factors that you must understand for the intention of preventing overpayment for your next home mortgage loan.

Mortgage broker markup of your mortgage interest rate and useless fees charged by the lender can rapidly turn a beneficial deal into an expensive new home mortgage loan.

Refinancing your mortgage through a credit union or bank would not protect you from mortgage broker markup as you might believe. Following are some valuable tips that would assist you in getting some idea about the role of mortgage brokers in refinancing. These tips would help you stay away from paying an excessive amount and becoming ruined by your next mortgage loan.

Mortgage Brokers vs Banks

Mortgage brokers function as mediators between the borrowers and countrywide lenders. These lenders which also include banks pay them for dealing with the applications on their behalf. For being competitive, they work with a lower profit margin than other lenders or banks.

A large number of people believe that they can steer clear of payment of mortgage broker fees by refinancing their existing mortgage loan through a bank. In spite of everything, your bank works as a direct lender. Unluckily, the banks are similarly guilty as mortgage brokers, perhaps more than the mortgage brokers in making the most of their customers by charging too much from them. In reality, the banking lobby of the United States has paid out millions of dollars for successfully amending the disclosure regulations to banks. This is true; the Real Estate Settlement Procedures Act is not applicable for your bank and your bank is not bound to reveal their markup or margin of profit on your home loan.

In contrast, mortgage brokers have the accessibility to wholesale rates and if you can locate a good broker who is ready to function for a flat activation fee, this would help you save a lot of money every year. Similar to your bank, the mortgage broker can markup your mortgage rate for getting a commission from the lender. This name of this commission is Yield Spread Premium and if you wish to get the best deal while refinancing your existing loan, it is necessary that you keep away from this needless markup.

written by Betty Parker

Short sale House in North Hollywood, CA on Hart St. Single family residence is for Sale at the fair market value price by BROKER LA INC. Huge price reduction!
The property is featured with 4bedrooms and 3bathrooms. This single family house was built in the 1950's and is 1896 square feet. The lot size of the house is 5898 square feet.
Please keep in mind this is a short sale property. therefore, offer must be included with verification of the down payment. Proof of fund is neccessary. In addition buyer must be pre-approved and have the pre-approval letter included with the offer.

If you have clients facing a potential foreclosure, help them help themselves by assembling the following, as suggested by the Federal Housing Administration.

1. Loan number and recent payment history

2. A brief explanation of their circumstances. Are their financial problems temporary (for example, a cut in job hours or the illness of a family member) or permanent?

3. Recent income documentation, including pay stubs or tax returns

4. A list of household expenses - utility bills, food, insurance

5. A list of other debt obligations - credit cards, car loans

For more advice on avoiding foreclosure, visit www.fha.gov/foreclosure.

Plan now and you'll be in a better position to know what you'll owe Uncle Sam this time next year.

1. More money for gas. The standard mileage deduction for business increases to 50.5 cents per mile. Note that mileage rates for medical or moving purposes fall to 19 cents per mile.

2. More money for retirement. You can contribute $5,000 to your IRA ($6,000 if you're over 50) in 2008.

3. No breaks for sales taxes. The provision permitting taxpayers to deduct state sales taxes - a big plus in states with no income tax - expired at the end of 2007.

4. More tax breaks for retirement savings. Married taxpayers with joint income of up to $85,000 will be able to deduct IRA contributions if they file jointly; individuals with income of up to $53,000 can take the deduction.

5. Higher standard deduction. If you're one of the two thirds of taxpayers who don't itemize, you'll be able to deduct $10,900 as a married couple filing jointly ($5,450 for singles) in 2008.

6. No tax on some capital gains. Joint filers whose taxable income doesn't exceed $65,100 and single filers with income that doesn't exceed $32,550 don't have to pay any tax on capital gains they realize in 2008; the rate for other taxpayers remains at 15 percent.

7. More time to sell a house when you lose a spouse. Taxpayers who lose a spouse now have up to two years after that death to take the maximum exclusion of $500,000 in gain on the sale of a principal residence. The other requirements for the exclusion must have been met before the death.

8. Less money back for some hybrid cars. While buying a hybrid car can still save you taxes, the tax credit has been phased out on many popular models such as the Toyota Prius. Check out the 2008 Model Year Hybrid List at www.irs.gov before you buy.

9. Tougher taxes for kids. Children 18 and under or fulltime students up to 24 years old will pay taxes at their parents' tax rate for investment income over $1,700. Note that this rate doesn't apply to wages a child earns.

10. Higher cutoffs for Social Security. The maximum amount of earnings subject to Social Security tax increases to $102,000 in 2008.


Source:  NAR

I decided to buy a home for my personal residence once. It was very good idea in the beginning to find the properties are offered by owner, therefore I could save both sides commission I thought.

After I was searching for over 6 months and look over all properties for sale, I realized for sale by owners are offered higher price then fair market value!!

Since I am realtor I found out that most of the times "not always" Home owners offering their property for sale over priced. That could be because of they don't have access to the MLS or they are not able to get accurate CMA, or that could be because they are emotionally involved and they are not willing to let the home go with the price is the real value.

So, I ended up going and looking for properties that are listed with an agent and they have been on the market for longer time. Why longer time?! Because I learned, many agents are trying to get the listing and not able to list with the fair market value. What is happening at that time: The home will be in the market for quiet while, and after listing gets expired, now the owner is sure that if he/she is planning to really sale the home they have to drop the price. Which some times they rather to try another agent whit lower asking price, I call them "lucky agents" who is the one receives ready transaction with motivated seller!

Of course this is my personal experience and I know there are many exceptions and alternatives.

A Few moths ago I had to go to Court to prove that I had listed Business and I advertised it, but I didn't receive my compensation after the business was sold!

In the beginning of September 2006, I have been hired to sell 60% share of the Melrose Pita Café a partnership business restaurant for 3 partners. Owners of Pita Café" Defendants" agreed to sign Exclusive Right to Sale Agreement. 60% share was for my client and his younger brother and 40% other for another party.

At the time of writing the listing agreement, I decided to have all parties initials and signatures to make sure at the time of transferring the business, I have prove of all partners were agreed to sell the 60% share.

During the trial, my client and his brother didn't show up but the partner with 40% share was present.

First, he decided to deny that he was aware of selling the business in any ways. But after I showed his signature on the listing agreement, he had no choice other then acceptance. He objected that he didn't know if the 60% share were sold at all, however, after judge asked him: "where were your partners?" He answered: "they are out of country". Judge asked me "why you requested signature from the person who had not interest of selling his share?" I answered: "I needed to be sure he had an agreement with his partners in order to sell their share and prove of the agreement in future reference."

Finally, Judge ordered in favor of Century21 Coast to Coast Realty "My Brokerage Firm" to receive 10% compensation from the listing price and the amount must be paid not from DBA that was sued but from the previous owner of 60% share" my client".

I came out from courthouse very happy and proud that I was lucky and I had got signature from all parties. I could have difficulty to explain the situation otherwise.

Also, I was happy that I organized and prepared all pictures of the Business that I had used for advertising and my phone records as well.

After all, I had an accurate Business Listing Agreement and most important all performances of the Business on Point2Agent website available for print to show to court that was prove of the business was advertised and performed on my website. Overall Listing Agreements, pictures, point2Agent, and phone records together helped me to prove my honesty and integrity of my work and I received the accepted result.

At the end, thank to Point2Agent for your help in this matter.

Fastfood -restaurant business for Sale with all newer stainless steel appliances. The location is approx 900 Sq. and 2300 monthly rent with 2 years lease transferable or new lease subject to landlord approval.
call for more information and visit at 818-300-3005 Restaurant located at cross street Sherman Way and Mason

I need to ask your ideas what I have to do with my clients and their listings when I am going to vacation. In my opinion, real estate does not have any vacation and my clients are always on the first place. In nowadays, we have enough tools to keep connection, to contact with the clients: phone, e-mail, and text messages, fax...etc. The main point is I will still working even tough I am out of country because of keeping my clients happy, my listing active and being on the market. On the other hand, I can make my vacation exactly like a vacation which would be only fun and no contact with the real world, no clients, no real estate and period. Thus, what should I do and how I can "kill two rabbits with one bullet" or in other words, how to manage my job with my vocational time and how can I get back into market quick and start working after my vacation?!

I need to ask those who are more experienced in real estate, who are longer time in real estate market and what they do in vacation time? When they go and how they manage their listings? Is it good idea to do not have any listing at that time?

	Century 21 Coast to Coast Realtors
	Los Angeles Real Estate - Peyman Karami Email Peyman Toll-Free: 888-300-3004 Cell: 818-300-3005 Fax: 818-906-8590

Address: 4610 Densmore Ave Type: Condo Style: Apartment Bedrooms: 2 Bathrooms: 2 Suite: No Living Area: 1,106 square feet Year Built: 1964

Gorgeous 2 Bedrooms/ 2 Bathrooms Condominium, In Encino, "South of Ventura Blvd", model designer quality, exquisite and spacious master retreat which includes awesome king size bedroom set. Bathrooms with designer mirrors, vanity top and decor included! All newer appliances, newer kitchen set and decor! All closets are large sizes. All newer carpet, tile, fixtures and freshly dressed walls. Finished newer kitchen cabinets. Quaint balcony! Ready to relax and enjoy! Don't let this one pass you by, come visit and see for yourself and let your dreams come true! More Description

Brokered and Advertised by Los Angeles Real Estate - Peyman Karami LID 1008819

Information is deemed to be correct but not guaranteed.

 

Today after one of my friend contacted me and he said: He saw an ad in Newspaper that" Liquor Store Business for sale with 18000 net income per month" He was very exited to talk and write an offer for such a business opportunity. He wanted me to call to listing agent and get the address for him and make sure the income is accurate number.

I called to listing agent and after I sent him none disclosure agreement, he told me that the income is 18000 but there is no way can be prove!!!! DAAAAA! I said how much income is on tax return for last year and he said 25000 Gross monthly!!!

I said thanks and Called to my client, I explained the situation and he said:" Why he didn't write that is without prove of income, then I would consider income is 25000 Gross monthly and I would still buy it! But since I feel sad for misleading I will not buy this business." I had nothing to say!!!