How to Rock a Personal Loan!!!  Since I've been a mortgage lender my entire professional career, the idea of borrowing a few dollars without having to undergo the home loan process intuitively strikes me as strange.  But, there are some situations for which a personal loan --- that is, one that is not secured by the collateral of your home --- can be a great fit:  Need to consolidate high-interest rate credit cards? Need to do a minor remodeling project around your home? Need to eliminate, once and for all, a pesky medical bill? Need to make a major expense and don't want to entirely deplete your savings? Or, perhaps, want to get your home painted and cleaned up and ready for sale, so that you can get top dollar?   Need the miracle of a few, quick bucks but don't have your own personal ... 02/23/2023

www.california203kconsultant.com This valuable program from its inception has done much to proliferate the 203K by affording a less restrictive process enabling lenders to fast-track the loan itself. Additionally, it's helping borrowers, requiring minimal repairs or renovations, to purchase homes from the current housing stock. Many of these are first-time buyers. While the success stories of this program are many, at the same time it is fraught with peril as contractors are receiving up to $15,000 as an initial upfront payment with no accountability whatsoever. Furthermore, there is no oversight of the actual construction itself and relies on a cursory inspection by an Appraiser, who may or may not have construction experience, at completion to validate that all work has been completed... 09/18/2022

 About the Section 203(k) Loan Program If you want to buy a home that needs repair or finance needed repairs to your current home, the Section 203(k) loan program by the U.S. Department of Housing and Urban Development (HUD) may be a good option for you. This program allows you to finance the purchase of a house—or refinance your current mortgage—and include the cost of its repairs through a single mortgage. The Section 203(k) loan program is HUD’s primary program for the rehabilitation and repair of single family properties. Section 203(k) loans are provided through HUD-approved mortgage lenders nationwide and insured by the Federal Housing Administration (FHA), which is part of HUD. “Section 203(k)” refers to the law, part of the National Housing Act, which allows FHA to make this mor... 08/21/2022

The real estate market tends to have its own cycles throughout a year.  While it may be more obvious in other parts of the country where the weather can have an impact on everyone’s ability to do things, generally speaking it’s harder to sell your house in the winter time than in the spring and summer. Here in Long Beach and other parts of Southern California we are not really impacted by weather.  We are lucky to be able to enjoy beautiful sunny days any time of the year.  Even so, the real estate market is still subject to similar cycles. If you are interested in what is currently going on in the market, you can find updates on existing homes sales on the National Association of Realtors website and a variety of other places.The Holidays The holiday season around November-December whe... 01/28/2022

Long Beach Property Management Got you Down?—                                           Are you frustrated with your tenants not paying rent during Covid?          Have you been dealing with maintenance issues while getting little to no rent to support those efforts?Do you resent your tenants? Are you consumed with anger every time those tenants light up your phone? Have you lost sleep, or even worse… is your blood boiling because of those tenants? Are you at the end of your rope?                              If you answered YES to any of those last few questions, it might be time to consider hiring a property management company to step in and take things off your hands.Over the last two years, the laws affecting rent collection during Covid have changed about every eight weeks. There a... 01/18/2022

Another prominent payment technique used in international trade is the Standby Letter of Credit. What is a Standby Letter of Credit (SBLC)? How is it different from a Documentary Letter of Credit? How do issuance and notification of a Standby Letter of Credit work? … Well This article provides the answers to these questions.What is a Standby Letter of Credit (SBLC)?The Standby Letter of Credit (SBLC) is a guarantee issued by the importer’s bank, in favor of the exporter, for an amount agreed at the signing of the commercial contract. It provides a guarantee to the exporter that, if due to any circumstances, the importer is unable to pay, then the bank will make the payment.We already know what a Letter of Credit is, from the above explanation. It is another naming for the documentary cr... 10/30/2020

What is a Reverse Mortgage?In simple terms, a reverse mortgage allow homeowners to take part of the equity and convert it into payments to themselves. Instead of a regular mortgage, where you pay the lender every month to buy a home over time, with a reverse mortgage, you get a loan where the lender pays you. This is a financing option for qualifying homeowners age 62 and above. There are three types of reverse mortgages: single purpose reverse mortgages, offered by some state and local government agencies or non-profits; proprietary reverse mortgages, which are private loans; or federally insured reverse mortgages, also known as home equity conversion mortgages (HECMs). HECMs account for 90% of all reverse mortgages in the United States, so that’s what we’ll be focusing on in this post... 02/27/2020

1. Buying a home is a great investmentSeveral reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. According to CoreLogic’s Equity Report,“U.S. homeowners with mortgages (roughly 64% of all properties) have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.”This means the average homeowner gained approximately $5,300 in equity over the past year. If you want to start building your equity, put your housing costs to work for you through homeownership this year.2. Mortgage interest rates are lowThe Primary Mortgage Market Survey from Freddie Mac indicates that interes... 01/28/2020

Your time is valuable, spend it giving back to those in need.Volunteer in Long Beach this holiday season. It will warm hearts and feed the souls of many people in our community. Here are just a few organizations that need your help.Urban Community OutreachPhone: 562-225-6416Urban Community Outreach offers safe temporary shelter, food, support services, and help homeless families and individuals become self-sufficient.  They host its drop-in center every Sunday at the First Congregational Church 241 Cedar Ave. You can volunteer on Sundays for a few hours, or for the whole day.Volunteers should report at/after 9:00 am to help with food prep. Volunteers scheduled to help with serving meals and clean-up should also report at/after 9:00 am. report to the same location above. The drop-in cent... 12/19/2019

Selling your house is a monumental event. And often the hardest thing to do is get ready. If you’re considering selling your home sometime in 2020, start early. Now is a great time to begin planning and get a few things in order.Step One: Find out what your home is worth. Once you’ve determined the estimated market value for your home, you can compare your property to other houses for sale in the neighborhood and figure out the ways in which your house is special. Check out out our free and easy valuation tool.  Step Two: Consider where you’d like to move. Put together a wish list for your next home. Consider location, type of home, size, and whether you’re open to a place that needs work or if you want something that is move-in ready.Step Three: Talk to a great local agent.An agent has... 12/19/2019

The Shannon Jones team is excited to introduce our newest team members.Each member of our team is dedicated to making every transaction "the best move you'll ever make." We specialize in Long Beach, Lakewood, Signal Hill, and surrounding communities.Lauren Putman - Administrative & Marketing ManagerLauren started her marketing career at One Step Services in south Orange County, where she was the project coordinator for real estate collateral. Lauren comes to the Shannon Jones Team with an extraordinary standard of excellence in administrative communications, document coordination, and client relations. She plays an integral role on our team as a facilitator between the sales, marketing, and operations staff and guarantees that our clients have a smooth, thoughtful, and pleasant experien... 12/12/2019

Selling your home is a huge decision. After quite a bit of research on local realtors in your area and how long the selling process you may feel that it’s better to sell your home yourself. FSBO, also known as For Sale By Owner, is when you sell your home without the help of a Realtor or licensed professional. By doing FSBO, you can avoid paying commission, working with an agent, and you have complete control over your listing.If you know you’re ready to sell your home but not sure where to start, we made a step by step guide on how to FSBO.Step 1: Price your home accuratelyAccording to NAR, 17% of people who have done FSBO said pricing their home was the most difficult task. Not only can pricing your home be difficult but accurately pricing your home can be close to impossible. In fact... 12/11/2019

Help us help mentally ill homelessWhile our team sells homes we know there a number of people in our city that do not have a home due to mental illness. We are here to help collect donations to help mentally ill homeless who receive assistance through MHA Village in downtown Long Beach. Items needed include clothing, shoes, new undergarments, toiletries, coats, and blankets.The MHALA Village is located on Elm Street in Long Beach and offers a number of services to the mentally ill. The Homeless Assistance Program helps its members secure basic needs such as laundry, clothing, and showers and also connects them with services including housing opportunities, mental health assessment and treatment, and substance abuse recovery support. Here is a quick look back to last year when our team a... 11/20/2019

For some of us, this is actually “the most wonderful time of the year.” Halloween is just a fun season, especially in Long Beach. People go all-out decorating their houses with spooky ghosts, creepy spiders, and festive pumpkins. Seasonal fall ingredients start popping up on menus, and it’s not a challenge to come across some Halloween inspired treats and goodies. Have you dug into the Halloween candy at your house yet? Be honest. We won’t tell.If you are looking for ways to celebrate Halloween in Long Beach this year, here are a few of our favorite happenings to get out and enjoy with your fellow community members. Queen Mary Dark HarborThis is one of the more famous local events and it attracts guests from all over LA County and even the rest of California. Tickets are $20 – $27 and t... 10/28/2019

It’s pumpkin latte season, and here’s a fun fact. Did you know that on average Starbucks sells about 20 million a year and that the pumpkin latte craze started just 10 years ago? Even though pumpkin lattes are seasonal, lattes are great to enjoy year-round. Here is our shortlist of coffee houses that are always serving lattes. Rose Park Roasters3044 E. 4th Street, LBThey offer seasonal lattes and cold brew coffee and house mad soda on tap. They take pride in roasting their own coffee and sourcing the very best coffee from around the world.Cupa Cupa455 E. Ocean Blvd., LBA family-owned and operated modern rustic coffee bar and kitchen. It is located in the historic Landmark building downtown Long Beach. They pride themselves on serving authentic barista-style coffee.Recreational Coffee237... 10/02/2019

 History of knob and tube wiring Knob and tube wiring was the go-to method for electricians in the United States from the 1880s to the late 1930s. Many pros continued to use this method through the 1950s, '60s and even '70s for new home construction. Many homeowners looking to purchase a home will find that they will need to (homes being sold as is) upgrade their electrical system or complete a renovation are discovering "hidden" knob and tube wiring in their homes and wondering how to proceed. We have uncovered many homes and building unsafe electrical system doing our certified inspection services (see the photos in this post. Knob and tube wiring gets its name from the ceramic knobs used to hold wires in place and ceramic tubes that act as protective casings for wires running through... 09/30/2019

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan. Below is a list of Things You Shouldn’t Do After Applying for a Mortgage. Some may seem obvious, but some may not. 1. Don’t Change Jobs or the Way You Are Paid at Your Job. Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well. 2. Don’t Deposit Cash into Your Bank Accounts. Lender... 09/26/2019

Closing CostsHere is our list of the standard fees associated with finalizing a real estate transaction in Long Beach, California. There may be other special charges depending on the neighborhood or development. The list below is the most common a home buyer or seller can expect to pay when buying or selling a home in the city.Closing Costs in Long Beach, CA1. Underwriting and Processing FeeThe fee associated with a lender verifying the financial information you provide including income employment, credit score, and your final loan approval. 2. Origination FeeThe fee associated with your Mortgage Company to cover administrative costs related to the processing of your application.3. Credit Report FeeThe credit report fee is a flat fee of about $15 - $30 paid to generate your credit repor... 09/26/2019

Signal Hill, Long Beach, California Neighborhood Information and Market ReportThe Signal Hill NeighborhoodSignal Hill is a city in Los Angeles County bordering the northern side of the city of Long Beach. There are various Long Beach neighborhoods surrounding the town including Memorial Heights, Sunrise, Poly High, Whittier, Circle Area, Aubry at Alaminos Ridge, and many more. The city is located southwest of the Long Beach Airport, and it's a short drive from Downtown Long Beach and Junipero Beach. Real estate in Signal Hill, like most Long Beach neighborhoods in the region is diverse. There are single-family homes in suburban areas as well as multiple apartments and condominiums. These residences offer excellent opportunities for both investors and home buyers who are looking for a ne... 07/07/2019

North Long Beach, Long Beach, California Neighborhood Information and Market ReportThe North Long Beach NeighborhoodNorth Long Beach is a middle-class district encompassing several neighborhoods in the northwesternmost part of the city of Long Beach, California. The community includes part of or all of the neighborhoods of Hamilton, Freeway Circle, Longwood, Jordan, Grant, Ramona Park, De Forest, Carmelitos, Sutter, Lindbergh, Harte, Jackson, and Davenport Park. The vast land area encloses a variety of developments such as commercial zones, business centers, and residential communities. Like many other districts in the greater Los Angeles metropolitan area, North Long Beach is a mixed-use community where you can find various local businesses, offices, and residential properties all toge... 07/07/2019