Teresa Hames
REALTOR®
(DRE License Number 01444436)
Prudential Malibu Realty - Topanga 540 S. Topanga Canyon Blvd. Topanga,
CA
90290 310.924.2479 Contact Me Visit My Web Site Print Newsletter
JUST SOLD! - 3/2 - $499,000 Represented the Seller in the sale of this charming Craftsman-style Top O' Topanga home.
Just Sold - Thousand Oaks Represented Buyers in purchase of Thousand Oaks home with a huge yard in a great neighborhood.
Real estate contingencies make comeback During the recession of the early 1980s, when mortgage interest rates hovered near 18 percent, few home buyers could qualify for financing, particularly if they already owned a home that needed to be sold before buying a replacement home. Offers made contingent on the sale of the buyers' current home were popular.
Contingent-sale offers are increasing in the current housing market. Most buyers who want or need to make a move to a home that better suits their current lifestyle can't qualify to buy before selling their existing home due to stringent mortgage-qualifying criteria.
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Avoid house-rich, cash-poor pickle DEAR BENNY: I am 58 years old and married. I have 22 years left on my 30-year mortgage, which is at 5 percent. I have a Roth IRA. I have some extra money to invest. In this current economy, what might you suggest? Should I pay money toward the principal on my mortgage? Put it in the Roth? I lost money in the stock market (bank stocks), so please don't suggest that I go back into stocks. Thanks in advance for any knowledge you might share.
--Tommy
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