Real Estate Information Archive

Blog

Displaying blog entries 1-3 of 3

Are you a senior citizen in need of extra money for remodeling your home, buying a new car, or even purchasing additional real estate? After all it is a buyer’s market and there are some fabulous buys available. If so, a Reverse Mortgage may be just what you need.

What is a a reverse mortage? A reverse mortgage is a loan available to seniors, and is used to release the home equity in the property as one lump sum or multiple payments. The homeowner's obligation to repay the loan is deferred until the owner dies, the home is sold, or the owner moves. If you’re a senior (over 62) and a reverse mortgage makes sense for your circumstances, here are the fundamentals of what you need to know:

  • To qualify a borrower must be 62 years of age or older.
  • The borrower must live in the property as the primary residence.
  • There are no minimum income, asset or credit requirements.
  • There are no monthly payments required for as long as the borrowers occupy the residence as their    primary residence.
  • The funds can be taken as a lump sum, monthly payments, line of credit or a combination.
  • There are no restrictions on how the funds are used.
  • Loan proceeds are not considered income and will not affect Medicare or Social Security benefits.
  • There are no prepayment penalties.
  • Heirs may keep the home by paying off the balance on the reverse mortgage loan.
  • All applicants are required by federal regulation to seek 3rd party financial counseling by an approved Department of Housing and Urban Development (HUD) organization.

For more information on Reverse Mortgages visit www.reversemortgage.org 

Contact the Domis Team

http://www.whittierhomes.com

http://www.lahabrahomesonline.com

http://www.lakeparkbrea.com

http://www.lakeparklahabra.com

Check it out - Eight New Restaurants in Uptown Whittier

by The Domis Team

Not only has the real estate business been hit hard in this economy, the restaurant business has as well. Even in a good economy it is risky business to open a new restaurant.  In spite of this, in the past year and a half, eight new restaurants opened in Uptown Whittier centered around Greenleaf and Philadelphia Street.

Alan's Take Out
Fenix 5-4
Golden Ox
The Bottle Room
Seta
Spin Lounge
Vintage Cafe
Zi Teresa

Eight restaurateurs decided it was the right time and that Uptown presented the right opportunity, namely, ambience, favorable rents and acceptance from residents and city officials.  Just last year, city officials were taking a more hardnosed approach to local businesses and particularly restaurants. Traditionally, Uptown restaurants closed early and were more focused on family friendly establishments. The poor economy and empty store fronts encouraged a change in how restaurants are allowed to operate in Uptown.  Uptown citizens want restaurants that offer the same quality found in nearby Pasadena and Monrovia. They want good food, entertainment, later hours and restaurants that serve alcohol. City Officials realize ultimately this will increase revenue. And, despite some setbacks they are trying to work with the business community.

Follow our blog during the coming year as we check in on these 8 restaurants.

Contact the Domis Team

http://www.whittierhomes.com

http://www.lahabrahomesonline.com

http://www.lakeparkbrea.com

http://www.lakeparklahabra.com

 

City of LaHabra Offering Sandbags for Residents

by The Domis Team

The rain keeps coming down and your home may be in harm's way.

We wanted to let you know that the city of LaHabra is making Sand Bags Available at City Yard, Fire Station located at Fire Station #192 at 520 Harbor Blvd. Sand bags may limited due to the high demand.

For those residents in need of sand bags, please visit the City Yard during regular business hours.  After hours, residents may pick up sand bags at Fire Station #192 at 520 Harbor Blvd.  Sand bags are only available to La Habra residents and businesses, and the bags must be self-filled.  Due to the high demand, there may be a limit on the number of bags available for each resident or business.

Please help your neighbors too! This is a time where it is not just about you, but coming together as a community to help those who may not be able to do it themselves.

Displaying blog entries 1-3 of 3

Syndication

Categories

Archives

Share This Page

Contact Information

Photo of Linda & Ryan Domis - The Domis Team Real Estate
Linda & Ryan Domis - The Domis Team
Keller Williams Realty
16310 E. Whittier Blvd. Suite F
Whittier CA 90603
Cell: 562-884-5373
Cell:562-458-6947
Fax: 562.902.5158
The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale

Contact the Domis Team

Linda Domis - DRE #00571375 | Ryan Domis - DRE #01969771
Whittier Homes for Sale | La Habra Homes for Sale
Lake Park Brea Senior Community | Lake Park La Habra Senior Community

© Keller Williams is a real estate franchise company. Each Keller Williams office is independently owned and operated.
Keller Williams is an Equal Opportunity Employer and supports the Fair Housing Act.