Adorable West Palmdale Home

House for Sale

West Palmdale House for Sale

Cute One Story Starter home on a Corner Lot with Three Bedrooms, Two Baths. Virtually no maintenance back yard. Located across from Rancho Vista Golf Course, Rancho Vista Elementary, Near Hill View Middle School and near the Mall and Parks. Priced to Sell ! SOLD FOR $132,000 (CASH)!!!

SOLD!!!!!

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West Palmdale Single Story Home for Sale

Single Story, semi custom home on a cul-de-sac.

Short Sale Listing ~ Price, and Terms subject to Lender Approval.
Semi custom home with an Open floor plan featuring four bedrooms, two baths, court yard, maintenance free back yard and two covered patios.
Enjoy the Spanish style throughout the exterior of the home.
Priced to sell…@$147,000 ! Status: Short Sale Contingency Active

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Investors Out Buying at an all time record

Since DataQuick has been tracking Real Estate Information, there has been an increase in Real Estate purchases by buyers with Cash Deals/Transactions. Some experts state that this is due to the Investors believing that the market has “bottomed out” and they are out taking advantage of the low prices.
Which will then in turn provide a solid investment. With so many potential buyers not being able to qualify for a home loan, due to either Low Fico’s (credit scores), or not having the down needed to purchase, they find themselves in need of a rental property.
Hence, the investor has the product that is in high demand. With many losing their homes and needing to rent, it is the perfect scenario being played out.

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Mortgage Brokers required to give you the Best Rate

New Rules for Mortgage Brokers Take Effect April 1, 2011+

Regulatory change is designed to protect borrowers
02/21/2011 | Mark Huffman | Consumer Affairs.com

There were many fingers of blame when the housing market collapsed, but one was pointed squarely at the mortgage industry — mortgage brokers in particular.

As part of it attempt to reform the industry, the U.S. Federal Reserve drafted new compensation rules for mortgage brokers, and those new rules go into effect April 1. The basic aspect of the new rule requires consumers getting a mortgage through a broker must be offered the lowest possible rate and fees for which they qualify.

The Fed’s new rules is known as the Loan Originator Compensation amendment to Regulation Z. Regulation Z prohibits certain practices relating to payments made to compensate mortgage brokers and other loan originators.
The goal of the amendments is to protect consumers in the mortgage market from unfair practices involving compensation paid to loan originators, according to the Fed.
In the middle of the transaction

Mortgage brokers are loan originators who market their lending services directly to consumers, except they have no money to actually pay the loans. They arrange with a bank or mortgage lender to actually provide the funds. They are in the middle of the transaction, earning commissions and fees from the entity that actually makes the loan.

During the housing boom, some mortgage brokers steered customers to loans that were the most lucrative for them, and might not have been in the best interests of the consumer.

The new prohibitions related to mortgage originator compensation and steering apply to closed-end consumer loans secured by a home or real property that includes a dwelling. The rule does not apply to open-end home equity lines of credit (HELOCs) or time-share transactions. It also does not apply to loans secured by real property if the property does not include a dwelling.
Definition of loan originator

“For purposes of these rules, loan originators are defined to include mortgage brokers, who may be natural persons or mortgage broker companies,” the Fed said in an explanation of the new rule. “This includes companies that close loans in their own names but use table-funding from a third party. The term loan originator also includes employees of creditors and employees of mortgage brokers that originate loans.” Continue reading

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