This Week’s Topic: 3-2-1 Buydown
A solution for some buyers? Darren and Joe discuss the concept of a "3-2-1 buydown," which is a type of mortgage loan product. In a 3-2-1 buydown, the interest rate starts higher than the prevailing market rate but is reduced by a fixed percentage for the first three years. There are pros and cons, but this type of mortgage may help some buyers.
Last Week’s Topic: Reverse Mortgage Rethink
A recent L.A. Times story summarizes the extremes a developer is legally utilizing to build new housing. Neighborhoods are not pleased with the changes happening next door. Darren and Joe discuss the new reality of housing and development in Los Angeles.
More: Sold and new listing reviews, market news, other interesting things we've found this week in real estate
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