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“Forever GI Bill” Signed Into Law

Aug 18
Category | General

“Forever GI Bill” Signed Into Law

Following unanimous congressional approval, the bipartisan Harry W. Colmery Veterans Educational Assistance Act of 2017 (commonly referred to as the “Forever GI Bill”) has been signed into law by President Trump. The bill contains over 30 provisions that aim to improve and expand educational benefits for veterans, service members, military families and survivors.

The most significant part of the bill is that it overturns a statute in the Post-9/11 GI Bill that required veterans to use their educational benefits within 15 years of their last 90-day period of active-duty service or else they lose their eligibility. GI Bill benefits for veterans no longer expire, which earned it the “Forever GI Bill” nickname.

The lifetime GI Bill benefits are available to those who left the military after January 1, 2013 as well as the surviving families of any service members who died in the line of duty. The official title of the bill is an homage to Harry W. Colmey, the American Legion national commander who wrote the text of the original GI Bill in 1944.

Benefits will also be restored to veterans ...

Qualcomm Stadium Space Being Considered for Homeless Housing Initiatives

On Monday, Jul. 24, Councilmember Chris Ward, Chairman of the City Council’s Select Committee on Homelessness, proposed a series of initiatives to address homelessness in San Diego to the San Diego City Council.

According to an April report by the Regional Task Force on the Homeless, San Diego had a total of 5,621 unsheltered homeless people in January 2017. This far exceeds the 1,240 emergency shelter beds that are currently available within San Diego city limits.

Ward proposed four main goals. The first is to utilize the Golden Hall Civic Center and Qualcomm Stadium’s Practice Field for temporary housing for the homeless (also referred to as interim bridge housing). This bridge housing would be available for 90 days per person for those in the process of getting permanent housing. This would include increased funding for beds.

How to Avoid Mortgage Insurance

Jul 28
Category | General

How to Avoid Mortgage Insurance

Mortgage Insurance Protection

Buying a home with less of a down payment may be an attractive option, especially for those who want to buy a home right away instead of waiting to save up for a larger down payment.  However, it is important to realize that putting down less than 20 percent of a home’s appraised value may require the addition of mortgage insurance (MI). Usually, this is paid as part of your monthly mortgage payments and the size of the fee depends on the down payment amount and your credit score. Private Mortgage Insurance (PMI) only applies to conventional loans, since VA loans typically do not have mortgage insurance requirements despite its low down payment, and FHA loans have their own type of mortgage insurance (more on that later).

The easiest way to avoid mortgage insurance is to save up for the down payment of 20 percent or more, but we have some tips and tricks that may help your Mortgage Insurance cost requirement. Here are some various options that may may be available...

Refinance Your Mortgage

Home value and interest rates are far from constant. You may be able to take full advantage of interest rate changes and home value increases to lower your monthly mortgage ...

Opening Day at Del Mar

Jul 19
Category | General

Opening Day at Del Mar

Take a plane, take a train, take a car, it’s Opening Day at Del Mar!

Don your hats and head down to where the turf meets the surf to catch one of the most highly anticipated horse racing events of the year. Try your hand at the nationally famous hat contest for a chance to win over $5,000 in prizes from five different millinery categories. Enjoy a wide selection of cocktails and craft beers while you play your favorite runners. No matter how you choose to spend your time at Opening Day, it’s sure to be a blast!

See you there!



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Preparing for a Mortgage Pre-approval: Everything That You'll Need

In today’s real estate market, it is crucial to get pre-approved by a mortgage lender before you start shopping for a home. After you have gone through the pre-approval process, you will have a firm idea of the loan amount, interest rates, and loan programs that are available to you. A pre-approval is different than a pre-qualification because the lender will gather all the proper income and asset documentation to confirm you are qualified in addition to running a credit report. Pre-qualification differs from this because the lender runs the numbers based on estimates without gathering the documents required to confirm your loan qualification. When you are making offers, especially if there are several offers on the same home, the agents will want to confirm that you have completed a full loan pre-approval with a reputable lender.

Putting in the time and effort before starting the pre-approval process will make your purchase transaction much smoother as it can help catch any potential problems upfront. In addition, you will be more organized for when you go into escrow, which will help you meet all the deadlines of the transaction. How do you prepare yourself for a smooth pre-approval process? Follow these helpful tips below.

First and foremost, you have to be ready to fill out the loan ...

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