Are You Eligible To Apply For CA COVID-19 Rent Relief?

 Rancho Cucamonga Realtor Li Li Hwang Shares The Landlord Checklist Article and Image of 

CA COVID-19 Rent Relief :

Are You Eligible To Apply For CA COVID-19 Rent Relief? 

California’s Business, Consumer Services and Housing Agency (BCSH) has created a state portal ( https://housing.ca.gov/covid_rr/index.html) for landlords and renters to apply for rental assistance. CA COVID-19 Rent Relief will help income-eligible households pay rent and utilities, both for past due and future payments.

Landlords can choose to accept 80 percent of any unpaid rent owed from April 1, 2020, through March 31, 2021. If a landlord accepts this funding, the landlord agrees to forgive the remaining unpaid rent for that covered period. If a landlord chooses not to participate, the tenant can still apply for relief valued at 25 percent of unpaid back rent they owe for the covered period. Landlords can determine if they are eligible by reviewing this checklist ( https://housing.ca.gov/pdf/covid19/landlord_checklist.pdf).

Li Li Hwang | DRE# 01059188
Century 21 PrimeTime
Https//lilihwanghomesellingteam.com
We Speak English, 普通话, Mandarin and Chinese
Your home sold guaranteed, or I'll Buy It* No Gimmicks! For a free special report that details my guaranteed visit www.lilihwanghomesellingteam.com.
Or Call 1-844-354-4975 ext 3372

Remember, your referrals change lives! we donate a portion of our income on every home sale to help those who need help the most! When you buy or sell with us, Great worthy causes Benefit!

If you or anyone you know is considering making move in the next little while, give me a call or pass on my number 
909-910-1188

Rancho Cucamonga Realtor Li Li Hwang 黃莉莉 有方法幫你解決先賣房再買房的缺點和困难!

Rancho Cucamonga Realtor Li Li Hwang 黃莉莉 

有方法幫你解決先賣房再買房的缺點

 ~Rancho Cucamonga, April 2021 ~

現在市場上的房子非常的短缺, 再加上因為利息低往往讓買家為一屋難求想尽各种融通方法.  在賣傢市場的時候賣房子是非常的迅速, 這裡我先不談契約,檢查房子,詳讀或者賣家披露所有的報告及貸款上或者稅務上的的事情...  谈谈现在换房子的吃力跟阻碍。。

往往賣家要想去買房子,但是手邊這棟房子就必須要處理因為不想最後有兩個房貸影響到你財務上的吃緊,還是在出offer的時候因為offer 必須有附帶條款反而在競爭力上跟別的買家比起來會略遜一籌.  

時候會帶來幾種的不利條件:

1) 增加成本 - 在出Offer的時候,為了彌補附帶條款相對的必須要出更高的價錢

2) 帶來不方便 - 除了Offer常會被賣家拒絕.

3) 財務吃緊 - 買到房子之後有兩個房貸必須要扛.

如果先賣房子的話再買房:

1) Covid-19 造成的隱性或者明顯的擔心,不安全:  會擔心進來的法買家是否有被感染到Covid-19?

2) 精神壓力很大:  房子賣掉之後,進入公證手續時要處理一大堆文件而且在短暫的時間必須要買到自己的新房.. 

3) 增加新房的成本 :  因為為了迅速完成買新房的心願往往必須要多出extra的成本來加速賣房的速度.   

4) 可能到最後沒有房子住 : 因為市場上的存貨太少,競爭的人太多.. 有可能會到最後必須要短暫的租房.  

Rancho Cucamonga Real Estate Broker 黃莉莉 Li Li Hwang 有一個很好的新項目能幫賣家

解決這方面的困難.. 

項目的特色: 

1) 不增加買賣時的成本, 

2) 增加換房子的確定性, 

3) 提供方便, 減少煩躁不安的情緒

4) 增加客戶的財務能力. 

Li Li Hwang 黃莉莉不僅賣房子

還改變你的生活品质

Li Li Hwang | DRE# 01059188

Century 21 PrimeTime

s

We Speak English, 普通话, Mandarin and Chinese

Your home sold guaranteed, or I'll Buy It* No Gimmicks! For a free special report that details my guaranteed visit www.lilihwanghomesellingteam.com.

Or Call 1-844-354-4975 ext 3372

Remember, your referrals change lives! we donate a portion of our income on every home sale to help those who need help the most! When you buy or sell with us, Great worthy causes Benefit!

If you or anyone you know is considering making move in the next little while, 

give me a call or pass on my number 909-910-1188

Century 21 Rancho Cucamonga Realtor Li Li Hwang Shares an Article that Homeowners Have Greater Net Worth Than Renters Regardless of Their Income Level

 

Century 21 Rancho Cucamonga Realtor 

Li Li Hwang Shares an Article:  

Homeowners Have Greater Net Worth Than Renters Regardless of Their Income Level

A Fannie Mae survey recently revealed some of the most highly-rated benefits of homeownership, which continue to be key drivers in today’s power-packed housing market. Here are the top four financial benefits of owning a home according to consumer respondents:

• 88% – a better chance of saving for retirement
• 87% – the best investment plan
• 85% – the chance to be better off financially
• 85% – the chance to build up wealth

Additional financial advantages of homeownership included in the survey are having the best overall tax situation and being able to live within your budget.

Does homeownership actually give you a better chance to build wealth?

No one can question a person’s unique feelings about the importance of homeownership. However, it’s fair to ask if the numbers justify homeownership as a financial asset.

Last fall, the Federal Reserve released the Survey of Consumer Finances, a report done every three years, with the latest edition covering through 2019. Their findings confirmed that homeownership is a clear financial benefit. The survey found that homeowners have forty times higher net worth than renters ($255,000 for homeowners compared to $6,300 for renters).

The difference in net worth between homeowners and renters has continued to grow. Here’s a graph showing the results of the last four Fed surveys:

The above graph only includes data through 2019, but according to CoreLogic, the equity held by homeowners grew by $26,300 over the last twelve months alone. That means the gap between the net worth of homeowners and renters has probably widened even further over the last year.

Some might argue the difference in net worth may be due to homeowners normally having larger incomes than renters and therefore the ability to save more money. However, a study by First American shows homeowners have greater net worth than renters regardless of their income level. Here are the findings:

Others may think homeowners are older and that’s why they have a greater net worth. However, a Joint Center for Housing Studies of Harvard University report on homeowners and renters over the age of 65 reveals:

“The ability to build equity puts homeowners far ahead of renters in terms of household wealth…the median owner age 65 and over had home equity of $143,500 and net wealth of $319,200. By comparison, the net wealth of the same-age renter was just $6,700.”

Homeowners 65 and older have 47.6 times greater net worth than renters.

Bottom Line

The idea of homeownership as a direct way to build your net worth has met the test of time. Contact a local real estate professional if you’re ready to take steps toward becoming a homeowner.

~ info and photos provided by KCM~

Li Li Hwang | DRE# 01059188
Century 21 PrimeTime
Https//lilihwanghomesellingteam.com
We Speak English, 普通话, Mandarin and Chinese
Your home sold guaranteed, or I'll Buy It* No Gimmicks! For a free special report that details my guaranteed visit www.lilihwanghomesellingteam.com.
Or Call 1-844-354-4975 ext 3372
Remember, your referrals change lives! we donate a portion of our income on every home sale to help those who need help the most! When you buy or sell with us, Great worthy causes Benefit!
If you or anyone you know is considering making move in the next little while, 

give me a call or pass on my number 909-910-1188

Century 21 Rancho Cucamonga Quantum Leap Realtor Li Li Hwang Does Not Just Sell Houses, She Changes Lives

 

Selling your Home with a Great strategy  and excellent tactics by Century 21 Rancho Cucamonga Realtor Li Li Hwang 

A Homeseller Testimonial reveals the Rancho Cucamonga Realtor Li Li Hwang did a great job again. "Great strategy and excellent tactics on 
Selling Home with 6 Ingredients to Protect Their Interests and Achieve Their Goal.

1) Risk Reversal
2) Buyers in Waiting
3) Sell Homes for MORE MONEY
4) Sell Homes FASTER
5) You Home Most Likely to Sell
6) 3rd Party Endorsement - Testimonials.  

Li Li Hwang | DRE# 01059188
Century 21 PrimeTime
Https//lilihwanghomesellingteam.com
We Speak English, 普通话, Mandarin and Chinese
Your home sold guaranteed, or I'll Buy It* No Gimmicks! For a free special report that details my guaranteed visit www.lilihwanghomesellingteam.com.
Or Call 1-844-354-4975 ext 3372
Remember, your referrals change lives! we donate a portion of our income on every home sale to help those who need help the most! When you buy or sell with us, Great worthy causes Benefit!
If you or anyone you know is considering making move in the next little while, 

give me a call or pass on my number 909-910-1188

Li Li Hwang Does Not Just Sell Houses.  

She Changes Lives.  
Quantum Leap Agent 

Rancho Cucamonga Real Estate Agent Li Li Hwang of Century 21 shares the KCM's article on Historic Data for the Mortgage Credit Availability Index

Rancho Cucamonga Real Estate Agent 

Li Li Hwang of Century 21 

shares the KCM's article 

on Historic Data for the Mortgage Credit Availability Index

 

Below article was taken from the Keeping Current Matter: 

As we can see, the index stood at about 400 in 2004. Mortgage credit became more available as the housing market heated up, and then the index passed 850 in 2006. When the real estate market crashed, so did the MCAI (to below 100) as mortgage money became almost impossible to secure. Thankfully, lending standards have eased somewhat since. The index, however, is still below 150, which is about one-sixth of what it was in 2006.

Why did the index rage out of control during the housing bubble?

The main reason was the availability of loans with extremely weak lending standards. To keep up with demand in 2006, many mortgage lenders offered loans that put little emphasis on the eligibility of the borrower. Lenders were approving loans without always going through a verification process to confirm if the borrower would likely be able to repay the loan.

Some of these loans offered attractive, low interest rates that increased over time. The loans were popular because they could be obtained quickly and without the borrower having to provide documentation up front. However, as the rates increased, borrowers struggled to pay their mortgages.

Today, lending standards are much tighter. As Investopedia explains, the risky loans given at that time are extremely rare today, primarily because lending standards have drastically improved:

“In the aftermath of the crisis, the U.S. government issued new regulations to improve standard lending practices across the credit market, which included tightening the requirements for granting loans.”

An example of the relaxed lending standards leading up to the housing crash is the FICO® credit score associated with a loan. What’s a FICO® score? The website myFICO explains:

“A credit score tells lenders about your creditworthiness (how likely you are to pay back a loan based on your credit history). It is calculated using the information in your credit reports. FICO® Scores are the standard for credit scores—used by 90% of top lenders.”

During the housing boom, many mortgages were written for borrowers with a FICO score under 620. Experian reveals that, in today’s market, lenders are more cautious about lower credit scores:

“Statistically speaking, 28% of consumers with credit scores in the Fair range are likely to become seriously delinquent in the future…Some lenders dislike those odds and choose not to work with individuals whose FICO® Scores fall within this range.”

There are definitely still loan programs that allow a 620 score. However, lending institutions overall are much more attentive about measuring risk when approving loans. According to Ellie Mae’s latest Origination Insight Report, the average FICO® score on all loans originated in February was 753.

The graph below shows the billions of dollars in mortgage money given annually to borrowers with a credit score under 620.In 2006, mortgage entities originated $376 billion dollars in loans for purchasers with a score under 620. Last year, that number was only $74 billion.

Bottom Line

In 2006, lending standards were much more relaxed with little evaluation done to measure a borrower’s potential to repay their loan. Today, standards are tighter, and the risk is reduced for both lenders and borrowers. These are two very different housing markets, so there’s no need to panic over today’s lending standards.

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