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- Dec 19, 2013
Yeah - how big and where in LA?
Crenshaw area, literally a block from Leimert Park. Thinking 300 sq ft.
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Yeah - how big and where in LA?
i think studios are -generally- cheaper
Out here in San Fernando valley. Rent is pretty expensive...and the area usually looks pretty averageAbout to rent for a year out here in LA. Think it’ll be good time to buy this time next year?
Most of the Ford plants aren't really in livable areas. Rouge plant is in the industrial hood. Michigan Assembly is in Wayne which isn't bad, but is a somewhat depressed area. Corporate HQ is in Dearborn, which has very nice areas and gets sketchier the closer you get to Detroit border. Most corporate employees probably aren't looking for rentals either.
I'd say either look in Detroit near Wayne State (but this is a competitive area) / midtown / downtown, or some of the "hip" suburbs like Royal Oak, Ferndale, etc. All depends on what you're looking for, as well.
That all said, if you think the housing market is cooling off (which I agree) - you should prob hold off. Michigan will be hit a lot harder than most other areas, if it plays out like 2008. So many workers are tied to the automotive industry that it can be felt everywhere, and its looking like the automotive sector isn't doing so hot lately. GM just announced they're laying off like 15k salaried employees.
Good article. Worth the read.
https://www.nytimes.com/2018/11/15/upshot/housing-market-slumping-despite-booming-economy.html
What's your expected ARV?
Is it normal to receive a letter from a lender about refinancing soon? Its only been 4 months and they say i may qualify to refinance to get rid of my pmi.
Is it normal to receive a letter from a lender about refinancing soon? Its only been 4 months and they say i may qualify to refinance to get rid of my pmi.
Its from my current lender. Closed and moved in the house in june but didnt have to make my first official payment until august 1st. So ive only made 4 payments and they sent a letter on friday.From your current lender or a new lender?
I've never gotten anything from my current lender, but I get **** almost weekly from other banks / mortgage lenders about refinancing (even though they can't beat my current rate)
Its from my current lender. Closed and moved in the house in june but didnt have to make my first official payment until august 1st. So ive only made 4 payments and they sent a letter on friday.
Says I can reduce my monthly mortgage by $764. My current PMI is $455. Idk if theres a catch, just think its a straight refinance. But 4 months into my loan?Is it a better rate? Any fees ?
Says I can reduce my monthly mortgage by $764. My current PMI is $455. Idk if theres a catch, just think its a straight refinance. But 4 months into my loan?
Damn thats a big PMI payment. They must be re-casting your loan though, for it to drop your payment by $764. Not sure how thats even possible, after 4 months. Usually you can't even drop PMI unless you have your house reappraised and you're now above 75-79% LTV (Loan to Value)
What is your interest rate, and the rate they want to refinance to?
you guys getting pmi and mip confused. you cant drop pmi at all anymore unless you refinance to a conventional loan. and 4 months isn’t out of the ordinary especially if your state is a no prepayment penalty state. you can literally refinance asap.
Current interest rate is 5%, doesnt say what rate they want to refinance to. And yeah i looked again and it is MIP.Damn thats a big PMI payment. They must be re-casting your loan though, for it to drop your payment by $764. Not sure how thats even possible, after 4 months. Usually you can't even drop PMI unless you have your house reappraised and you're now above 75-79% LTV (Loan to Value)
What is your interest rate, and the rate they want to refinance to?
Checking in.
What are some good up and coming areas in the DMV? Or college neighborhoods?
Thinking of buying some property out there. I've looked into buying and renovating houses in cheaper parts of NYC (certain hoods in the Bronx), but I don't want to chase people for rent.