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  • Good property management pays for itself. As an income property owner, you should look at your property management company as a business partner. Under savvy management, your investment will grow and run smoothly.   But be careful! Because let’s face it- no property management company is going to care as much about your property as […]

  • Supplemental Tax assessments or supplemental tax bills raise property taxes. Need help understanding and reading your Supplemental Tax bill? View an explanation of each information field of the bill at the Los Angeles Assessor’s website: http://lacountypropertytax.com/portal/bills/suppbill.aspx Large, and sometimes surprising, Supplemental Tax assessments or supplemental tax bills are common with Remodels, New Construction, or longtime […]

  •     Address: National Modern Living 11500 National Blvd #102 Los Angeles CA 90064 11500 National Boulevard, also known as ‘National Modern Living’, is an 18 unit, two story, new construction (yb 2014), townhouse style, condo development in Mar Vista.  This building is high tech. All of the condos are 2 bedroom 2.5 baths starting […]

  •   Nestled within the winds and folds of Woodrow Wilson Drive in the Cahuenga pass, is a peculiar row of small mountain cabins known as the Boathouses. Built in 1958 and 1959 by Architect Harry Gesner, these homes are stilt houses that reside on ‘unbuildable lots’. Ronald Buck purchased the group of lots and asked […]

  • Central Heat and Air is the most common air conditioning system in Los Angeles. Central Heat and Air is sometimes also called ‘forced air’, or a ‘split system’.  Central Heating and Air uses air as its heat transfer medium.  The system relies on ducts and fans to circulate the conditioned air throughout the house. An […]

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The latin root of Amortize is ‘mort’, which means death

Amortization is the process of repaying a mortgage loan’s principal and interest through monthly payments. Each payment reduces or amortizes the loan balance. Interest is “front loaded” meaning that although your payment remains the same each month, a higher percentage of the payment goes to interest at the beginning of your loan.

Since your payment is fixed, inflation works in your favor. You are borrow today’s dollars and paying them back with the futures inflated dollars. This lessons the blow of interest.

A lot of home owners may be surprised at just how much interest they end up paying over the life of their loan. I like Bank Rate’s Mortgage Calculator. Load an amortization table and you might be surprised!

A 15 year fixed mortgage will pay less interest than a 30 year fixed. But which is better? The advantages with a 15 year fixed mortgage is that you will get a slightly lower interest rate than the 30 year fixed. The disadvantage is that your monthly payments will be higher. I usually recommend to get a 30 year fixed mortgage, because you can always choose to make an additional payment or two each year that will accelerate it to a 15 year schedule, however if you run into trouble one year, you won’t have to worry about getting behind. I understand that some owners won’t make the additional payment unless they have to, and in that case a 15 year fixed might be better.