Los Angeles nightclub impresario Sam Nazarian opened his latest SLS hotel with the usual flair. Champagne flowed, rock tunes blared, celebrities preened and fireworks exploded from the trendy hotel's roof on the Las Vegas Strip.
Last week I suggested that the standard mortgage was very difficult for many borrowers to manage because of its rigid payment obligation, the fixed payment period and payment amount, and the high cost of building a payment reserve. This article introduces what I will call the Manageable Mortgage which has none of these problems. It would give borrowers the leeway to integrate the management of their mortgage into their lifestyle and budgetary practices, without weakening the discipline that many borrowers require.
Q: I just found out all the homeowners in my development will have to pay a special assessment of about $400 to make up for those owners who don't pay their regular homeowner association dues. But these deadbeat owners still get to live in the homes. Isn't there something our HOA can do?
When Francisco Nieto and Mirella Rangel sold their Oakland, Calif., house this year, they wound up in a limbo of homelessness that's snagged many move-up buyers in the Bay Area's overheated real estate market.
Northern San Joaquin Valley home values made remarkable gains in 2013, with home sale prices soaring by more than 20 percent in most cities. Denair led the pack, skyrocketing 48.3 percent, while median-priced homes in Patterson posted 40 percent gains, according to just-released annual statistics from DataQuick.