Ray Calnan
REALTOR®
(DRE License Number 01453863)
Charity Alliance Realty 11024 Balboa Blvd. Suite #231 Granada Hills,
CA
91344 818.825.5256 818.717.7354 Contact Me Visit My Web Site Print Newsletter
Box Canyon Land 35K SF of land located in Ventura County on Box Canyon. Rustic feel. Zoned for horses. Only $275,000
Are home warranties a good deal? When something malfunctions in your home, wouldn't it be wonderful if you could pick up the phone, request a service call, pay a nominal service charge and have the problem fixed? In theory, this is how a home protection plan works.
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Appraisals killing deals in many markets Finding the right house to buy is never easy; selling a home today is also challenge. It's best to prepare yourself for obstacles that could cross your path so that you're prepared should they arise.
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Don't tap that HELOC DEAR BENNY: We have a HELOC (home equity line of credit) at a current interest rate of 4.75 percent. We have not drawn on the account. We are 20 years into a 30-year home mortgage with a fixed rate of 8.75 percent and owe about $32,000. Our home is listed on the appraisal rolls at $306,000. We would like to draw on our HELOC to pay off our first mortgage. We understand that the 4.75 percent is not a fixed rate and will be adjusted monthly depending on the prime rate. We also understand that we must pay interest on it monthly and in nine years will have to begin repaying principal. There are no prepayment penalties. It sounds too good to be true that we could pay off our 8.75 percent mortgage loan with a HELOC at a current rate of 4.75 percent. Are we missing something? –Barbara
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