10 facts you must know about your credit score!

There are many Greater LA area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Caculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 414-3597 for a FREE home buying or selling consultation to answer any of your real estate questions.

 
10 facts you must know about your credit score!

Welcome to our video blog! In a recent video, we discussed how our lender friends at American Financial Network could help you, our client, with credit repair and restoration. Today, Monica and I wanted to cover the common truths and misconceptions about credit reports. We are offering an “Insider’s Guide” to your credit and in fact, we are going to play the “True or False” credit score game!

1.    True or false: Credit scores are usually not accurate. True; 80% of credit reports have an error or an inaccuracy. This means you should regularly check your credit report!

2.    True or false: Regularly pulling your personal credit report will lower your score. False; soft pulls done by yourself have no effect on your credit score. However hard inquiries done by lenders, possibly for loan approval, will have a negative effect on your credit score. The effect is minimal.

3.    True or false: Higher income = higher credit score. False; income is not relevant to credit scores. Essentially, paying your bills on time is all that matters!

4.    True or false: Credit reports and credit scores are the same. False; there are three major credit bureaus issuing reports. They are Equifax, Experian and TransUnion. Their scores as based on numerous factors and can vary. It is important that you make sure that the data being weighed from these three companies is accurate and the same.

5.    True or false: Debt settlement removes debt from your credit report and fixes bad credit. False; debt settlement does not fix bad credit! Late payments and other negative information can remain on your report for up to seven years from the initial infraction date.

6.    True or false: Cash only payments don’t improve your credit score. True; you can’t build good credit unless you use it and use it wisely! Optimally, you will have a few small loans and credit cards which you can pay off quickly and regularly to maximize your credit rating.

7.    True or false: Closing your credit accounts will improve your credit score. False; closing your accounts lowers your disposable income to creditors. You never want to lower your credit utilization by cancelling credit cards!

8.    True or false: Smart handling of your bank account will not reflect on your credit score. True; this data is not reported to the bureaus and has no impact on your credit score.

9.    True or false: Disputing accurate, but negative, information is possible. False; you only have the ability to dispute mistakes. Valid disputes will result in the removal of inaccurate information from your credit report.

10.    True or false: Missed payments not reported to credit bureaus won’t affect your credit score. False; any and all missed payments will eventually be reported provided you take care of the liability in a timely fashion.

As always, if you know someone in your social circle that is looking to buy or sell real estate, connect with us today. Remember, Monica makes it happen!

Are you ready for a faster and simpler way to sign real estate documents?

There are many Greater LA area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Payment Caculator so you know what buyers will pay for your home in today's market. You may also call me at (626) 414-3597 for a FREE home buying or selling consultation to answer any of your real estate questions.

Are you ready for a faster and simpler way to sign real estate documents?

Hello, it’s Jay Campbell! Monica unfortunately cannot join us today because she is out there “making it happen” as always. As the resident digital media ninja, I want to discuss the digital signing document tool we utilize, DocuSign. Did you know with DocuSign, you can sign most real estate documents from the easy and comfort of your mobile phone, tablet device or computer?

Imagine sitting with us for ten minutes while we draft up your residential purchase or listing agreement and with the push of a button, we can send your document to your email via DocuSign so you can sign, initial and approve on the spot! Think of all the time and money you will save without having to print page after page of real estate documents. When you use the Monica Diaz Team, you will have the option to use DocuSign to make this entire process much easier on you!

Most of our clients shun the use of personal computers, especially when it comes to signing documents. DocuSign truly eliminates that fear with its simplicity and ease of use. Why waste time print out hundreds of pages of paper when you can just point and click your digital signature? Why not let us minimize your stress and anxiety?

It is important to note that not all real estate documents can be signed digitally. Certain escrow documents and trust paperwork still require a hard copy, paper signature. Rest assured, our team will guide you every step of the way to make sure this happens.

As always, if you or anyone you know is interested in buying or selling real estate, don’t hesitate to connect with us. Remember, Monica makes it happen!

Is Bad Credit Preventing You From Owning a Home?

Is Bad Credit Preventing You From Owning a Home?

Welcome back to the Monica Diaz Team video blog. Today we have Megan Halpin of Cove Financial with us. She’s here to tell us about a wonderful program available to anyone who is experiencing a ‘financial hiccup’.

What is Cove Financial’s Rent-to-Own program? 
Cove Financial’s Rent-to-Own program is unlike any other. There are a lot of different reasons why someone may have a poor credit score and we don’t want that to affect your chances of owning a home.

Through this program we give these families the opportunity to rent their home until they qualify for a standard mortgage.

Who qualifies? 
With this program we accept credit scores as low as 550. We just require that you have a 5% deposit. The great news is that 5% doesn’t have to be seasoned; you just need it once an offer is placed on a home.

You also need to have proof of income. This program is meant to help you until you can qualify for a standard loan. To do that, you need a steady income and to be able to rebuild your credit score.

How does it work? 
The application process takes about 2-3 days. Once you have been approved you are allowed to go and pick the home of your dreams.

Just one of the unique things about Rent-to Own is we don’t pick the home for you, rather we allow you to choose a home from $100,000 - $1 million.

Once you have found that home Cove Financial purchases the home. You are leasing the home until you qualify for a mortgage and can pay off the property.

The closing process takes about 21 days or less on average. In fact, just the other day we closed a home in just three days!

How much does it cost? 
As mentioned before, you do need a 5% deposit as well 3% to Cove Financial. The only other fee is the $995 application fee. This is a chance for you to get back into home ownership.

If you are interested in learning more about Cove Financial’s Rent-to-Own program, give Megan a call at 310.351.9942

Don’t miss out on this wonderful opportunity. Build your credit and get the home of your dreams.

If you or anyone you know is looking to buy or sell, send them our way because remember, the MONICA DIAZ TEAM MAKES IT HAPPEN!

Meet The Monica Diaz Team

Welcome back! 2013 was a great year for The Monica Diaz Team and we can't wait to continue to serve you this new year. That's why I wanted to introduce the team to you!

Lucia Lopez is our executive assistant. She handles all the open escrows, the paperwork and closing the files. She makes sure nothing falls through the cracks!

Oscar Pinto and Justin Lopez are our Buyer's Specialists. If you need a home, they make it their #1 priority to find you one that fits all your needs.

We are The Monica Diaz Team and we look forward to helping you with all your real estate needs this next year. We wish you happy and prosperous 2014. And remember, The Monica Diaz Team makes it happen!

Our Attitude of Gratitude

The new year is just days away. As we get ready for 2014 we couldn't help but reflect upon 2013. A year ago, we partnered up with a common goal of creating a one-of-a-kind real estate experience for you.

Because of you, we have made incredible leaps. Your support, your business and your referrals have taken The Monica Diaz Team to a whole new level. We can't begin to tell you how grateful we are for you. From the bottom of our hearts, THANK YOU!

We also wanted to wish you a wonderful and safe holiday season. We hope you take this time to be grateful for everyone and everything in your life.

If you have any questions, don't hesitate to give us a call. We want to be your real estate resource! Get ready for 2014; it's going to be another great year because remember, MONICA MAKES IT HAPPEN!

Why Do You Need Title Insurance?

Why Do You Need Title Insurance?

Welcome back! Today we have with us Kelly Davidian from Lawyer's Title. Buying and selling a home has a lot of steps. It's important to me that you understand and are comfortable with every step in the process. That's why I asked Kelly to join us. She is going  to explain what a title is and why you need it. 

What is a title? 

Title insurance is required on every single real estate transaction. What it does is protect both the buyer and the lender. Title insurance is also used in refinance cases. It protects you from different issues that may arise such as leans, easements, etc. We work closely with the escrow company to make sure everything is taken care of. 

Why do you need a title?

Imagine if there wasn't any title insurance on a home. If the previous owner didn't pay his taxes or perhaps didn't pay child support from a divorce, without any title insurance, you are responsible for those items. So as you can see, it's very important. 

Why Lawyer's Title?

Lawyer's Title is one of the largest and most reputable title insurance companies. Every member of our staff has years of experience and we always make sure to put you as our #1 priority. We know how important buying that new is to you.

We hope you found this information helpful! We can't thank Kathy enough for coming in today! She is one of the best we've worked with and is always there whenever we or one of our clients has a question.

So if you are anyone you know is thinking about buying or selling real estate, give the Monica Dias Team a Call because remember MONICA MAKES IT HAPPEN!

Should I Sell Now or Wait Until Next Year?

Should I Sell Now or Wait Until Next Year?

Thanks for joining us today. Year after year we get asked whether it’s better to sell during the holiday season or wait until after the first of the year.  

The truth is it really depends on your situation. That’s why we wanted to talk about the pros and cons of both selling now and waiting.

Most people assume that the real estate market is dead during the holidays; who is looking for homes?

While there may be fewer buyers on the market, those that are looking are serious.  Think about it; who wants to take time out of their holiday plans to look at homes and deal with the loan process? Those buyers need to buy whether it’s for tax purposes, relocation, etc.

Do you know what else is great about selling during the holidays? There’s less competition. Tons of people decide to wait until spring to sell their home.  With more homes on the market, there is less demand for yours.

Let’s think about supply and demand. If you put your home on the market now, when there is low inventory, there is a high demand for your property. That means more money for you! If you list during the spring, when there are a lot of others homes, yours isn’t nearly in as much demand. That means less money for you.

Homes also look great during the holidays. With lights, decorations and the smell of cooking, buyers become emotional. It makes it so much easier for a buyer to fall in love with your home.

You may be worried about the seasonality. What if there aren’t enough buyers out now? In reality, because we have so many international buyers now playing a role in our market, the time of the year doesn’t have a huge effect.

These are just a few reasons why selling now could be a great way for you to get the most money on your home. We want you to give us a call, though. We can talk about your situation; create market analysis to find out whether selling now or waiting is the best option for you.

Remember if you or anyone you know is looking to buy or sell real estate, give the Monica Diaz Team a call because remember MONICA MAKES IT HAPPEN!