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Alhambra, CA Real Estate News

By Eddy Martinez
(Nationwide Funding Group)
 The landlord may file an unlawful detanier action in the municpal court if a tenant ignores or fails to respond to the notification to pay or quit. This document lists the charges against the tenant, who has then five days to respond after being served; otherwise, a default hearing is set. A writ of possession is grnated by the courtto the landlord if the tenant does not move our or answer the lawsuit. This authorizes the sheriff to send an eviction notice to the tenant, and then after five days, physcially remove the tenant from the premises.For you investors or landlords on this real estate network have you ever been in a position to where you have had to unleash the eviction process on a bad tenant?     Eddy MartinezBest Rate Funding - Direct Lender - Wholesale RatesSenior Loan Cons...
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By Eddy Martinez
(Nationwide Funding Group)
   Median Home PricesThe median home price is the price that is midway between the least expensive and most expensive home sold in an area during a given period of time. It is used by economists to compare home sale prices and measure the exact increases and decreases. For example, the median home price in the second quarter of 2004 was $461,730.00 , an increase of nearly $100,000.00 over the second quarter median of $368,620.00. The housing market fluctuates with time and location. Over the last 20 years all areas of California have shown dramatic increase in the median home price. Some areas, however, have increased far more than others. The California Association of Realtors ( C.A.R.) is a trade association with hundreds of thousands of members and is dedicated to the advancement of ...
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By Eddy Martinez
(Nationwide Funding Group)
Holden Act of 1977 (Continued)The Holden act effectivley encourages increased lending in neighborhoods where, in the past, financing has been ulitmatley unavailable.The major goal of the Holden Act is to ensure and increase the supply of safe and decent housing for creditworthy borrowers and to prevent long term neighboorhood decay. To ensure that prospective borrowers are aware of their rights under this federal legislation, lenders must notify all applicants of the provisions of the Holden Act at the time of their loan Application. Lender Compensation Disclosure The Lender Compensation Disclosure also known as the Commisioner`s Regulation 2904 requires that all real estate licensees must disclose to their principals all compensation , or expected compensation , reagrdless of the form,...
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By Eddy Martinez
(Nationwide Funding Group)
The underwriting process begins with the borrower filling out a loan application and gathering the documents needed by the lender. In general lenders ask for the following:-w`2s /1099/1040 tax forms for the past 2 years-3-12 months worth of bank statements-Most Recent Mortgage Coupon for all of the applicable mortgages on title-Proof of any liquid assets-Most recent paystub-Homeowners insurance declaration page-purchase agreement (if applicable)Once these are recieved the lender will then verify the information and order an appraisal in order to qualify the property. THere are several types of income qualification, there is a stated income stated assets (SISA) , stated income verified assets (SIVA), no income no asset verification (NINA), no ratio , (NR) and limited/lite documentation. ...
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