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Articles written by Tammy Engel

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How to get started

The caller wanted to learn how to get ready to buy his first house. "I just paid cash for my business, and I have no credit." Nice, a clean slate to work with! After the mortgage meltdown, Congress...

 

The Equifax data breach: what to do

This article is taken in its entirety from www.consumer.ftc.gov/blog/2017/09/equifax-data-breach-what-do. If you have a credit report, there's a good chance that you're one of the 143 million American...

 

Hurry! Reverse changes coming Oct. 2

We're short and sweet this week, since something big is happening in the world of reverse mortgage. On Aug. 29, 2017 the U. S. Department of Housing and Urban Development announced changes to the...

 

Who gets paid?

Did you know that in a real estate transaction, the seller usually pays for the Realtors? A buyer asked about this last week, so let’s spend a few minutes discussing it. When a property is for sale,...

 

Negotiating repairs

Of course there will be things wrong with your dream house! The home inspection is designed to tell you that upfront so you can be an informed consumer. What do you do with those findings? Your...

 

Winning the battle of the thumbs

We’re short and sweet this week: Here is an article posted in the National Mortgage Professional magazine. While the majority of prospective homebuyers do their research on home loans online, they...

 
 By Tammy Engel    Local News    July 8, 2017

Community Wide Open House on July 22

The Tehachapi Area Association of Realtors is holding a Community Wide Open House on July 22. Agents in the know tell me that if you want to have much of a choice in our current market, you’ll want...

 

Reverse wins – sometimes

Don’t fall for the hype – Reverse mortgage isn’t for everyone. When you have a seasoned professional help you with the analysis about what these loans accomplish or not, you can see for...

 

When cash is not king

Really, he was trying to help. Knowing that he needed a clean paper trail for the money they’d use to buy a house, he opened a new account. Since the bank puts holds on checks for the first month,...

 
 By Tammy Engel    Local News    May 27, 2017

'My parents said I should refinance'

It’s pretty great that parents watch out for their kids’ finances. A 2015 first-time buyer was in touch because their parents told them to refinance right now, while rates are low. But is that a...

 
 By Tammy Engel    Local News    May 13, 2017

$11,000 is too much

A repeat client phoned me and she was hoppin’ mad. “We got a VA buyer offer on our house and they want us to pay $11000 in closing costs!” That made me mad, too. Here’s why. The VA home loan...

 

Ken Harney says...

Kenneth Harney is a nationally-syndicated columnist on real estate for the Washington Post Writers Group. Here’s his March 29 post about credit scores. When is your “credit score” irrelevant in...

 

It's a conspiracy!

Is there a conspiracy surrounding the appraisal report for your home purchase or refinance? Recently a buyer was upset about an appraisal value matching the purchase price, so let’s review the...

 

Rates are up! Rates are down!

Gotta love the media. They scream at us that interest rates are worse, and that interest rates are better. All they’re doing is reading from a teleprompter – so what’s true? It’s all about...

 

Choose carefully

There’s a new survey out by ClosingCorp telling us that last year more than 50% of lender’s loan estimates to borrowers had to be revised before the close of escrow. Buyers complained that...

 

Comparing loan offers

It’s pretty easy to go on-line and get figures about your next home loan. Does what you see on the screen actually end up being what you get? It’s not always a matter of bait and switch; it’s a...

 

Keep comparing!

Twice this week my local quote was beat an online/mail lender. Once was for a reverse mortgage, and once for a plain refinance. Be sure you are talking to a local mortgage advisor before you latch on...

 

'You can have any loan you want!'

Um, no, you can’t. But this was said by someone holding themselves out as a lender, to a friend of mine. He heard, “If you put 20% down, you can have any loan you want!” First, a check of the...

 

Affordability snapshot

We got a great surprise from FHA this week: They’re lowering mortgage insurance premiums! Good news for buyers and refinancers alike. Since interest rates have moved over the last quarter, it’s...

 

What happened to rates?

Happy New Year. Have you been getting a bunch of mailers about refinancing your current home loan? Me, too. Is it really a good time to refinance? Only “maybe.” Many factors come in to play when...

 

Be like 'Buyer A'

“I’ve never worked with someone like you before when buying houses … it makes me wonder how many times I’ve been swindled or made bad decisions – thank you for walking us through...

 

Need help?

If you’re behind on your mortgage payments, or worried about how you’ll make the next one, join the more than 1.5 million families who have been helped so far. Fannie Mae has a great resource at...

 

Don't fall for it!

After you’ve done a new home loan, your mailbox gets stuffed with all kinds of mail. Anything you receive from your lender would be important, of course, as would anything from the local county tax...

 

Know before you owe

It’s important to have a monthly housing budget in mind when you shop for a new home. The on-line calculators you see on web sites are interesting, but don’t account for everything that might be...

 

It's taking FOREVER (again!)

Several weeks back my phone rang and a California City caller wanted to know if it was real that home loan appraisals were taking over a month. For her rural area, it was true. What’s that about?!...

 

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