Politicians and the media have made it sound like entering into a forbearance with your mortgage because of the pandemic is something that many Americans are taking advantage…and maybe you should too, right? Well…maybe not. [Read more…]
Some things to Consider before you do Forbearance with your Mortgage
April 13, 2020 by Leave a Comment
Governor Jay Inslee clarifies requirements for Loan Officers and Real Estate Agents during the Pandemic
March 30, 2020 by Leave a Comment
Last Friday, Governor Inslee issued clarification to real estate agents and lenders regarding real estate and mortgage transactions during the corona virus pandemic. Originally, real estate agents were clarified as “non-essential” which caused a bit of an uproar in the real estate industry. [Read more…]
How Much Home Can You Buy with $97K Income with a Low Down Payment
February 14, 2020 by Leave a Comment
The Seattle City Council recently passed a ban on evictions during winter months in Seattle. I’m all for protecting people when the weather is hazardous, however winter in Seattle is often quite mild. I’m actually very concerned about this legislation and how it may impact the rental market. I’m betting we will see more people decide to sell their Seattle investment property and move to other cities that are friendlier to landlords. Especially once you factor that Seattle laws prevent landlords from being able to screen potential tenants (it’s first come/first serve despite criminal history) and that landlords can only collect up to 1 month’s rent (plus 25% of one months rent if they accept pets) which can be paid over six months. Landlords are really in a risky position if the property is under Seattle’s regulations. [Read more…]
King County Property Taxes average 13.7% Higher for 2020
February 13, 2020 by Leave a Comment
The King County Tax Assessor has issued a press release two days before 2020 property taxes will be released. From the press release:
“About 55 percent of property tax revenues collected in King County in 2019 pays for schools. Property taxes also fund voter-approved measures for veterans and seniors, fire protection, and parks. King County receives about 18 percent of your property tax payment for roads, police, criminal justice, public health, elections, and parks, among other services. [Read more…]
Could you survive one month without income?
January 25, 2019 by Leave a Comment
With the government shutdown pushing over a month long, some federal employees are having to juggle another missed paycheck. Yesterday during an interview with CNBC, US Commerce Secretary Ross is quoted stating:
“So the 30 days of pay that some people will be out – there’s no real reason why they shouldn’t be able to get a loan against it and we’ve seen a number of ads from the financial institutions doing that… there really is not a good excuse why there really should be a liquidity crisis,” he said. “True the people might have to pay a little bit of interest.” [Read more…]
Why is My Mortgage Payment Going Up?
June 28, 2018 by 2 Comments
If you live in the greater Seattle area, you may be receiving a notice from your mortgage servicer stating that they need to adjust your mortgage payment because of an “escrow shortage”. We actually just received such notice from our mortgage servicer. [Read more…]
Higher Property Taxes Impacts Everyone
February 23, 2018 by Leave a Comment
If you live in King, Pierce, Snohomish or many other Washington state counties, you have some sticker shock when you see your 2018 property taxes. King County is reporting that the average home will see their taxes increase by 17%. The City of Sumner in Pierce County may see a whopping 22% jump to their property tax. [Read more…]
Dr. Carson sworn in as new HUD Secretary
March 3, 2017 by Leave a Comment
Yesterday, Dr. Ben Carson was formally sworn in as the Secretary of HUD. Secretary Carson, from HUD’s press release, stated:
“”I am immensely grateful and deeply humbled to take on such an important role in service to the American people,” said Secretary Carson. “Working directly with patients and their families for many years taught me that there is a deep relationship between health and housing. I learned that it’s difficult for a child to realize their dreams if he or she doesn’t have a proper place to live, and I’ve seen firsthand how poor housing conditions can rob a person of their potential. I am excited to roll up my sleeves and to get to work.” [Read more…]
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