Did you know? Woodland Hills is the location where they signed the treaty that ended the Mexican War and cleared the way for California to become a state. Modern day Woodland Hills was created by 12 families out of a failed CO OP in 1955. I have recently found two interesting web sites that are full of interesting facts abot our local history. They are WWW.WoodlandHillscc.net, and WWW.Greenbelt.com/WoodlandHills/History. If you have any bits of little known history or urban legend about the area, please share.
Hello Husker Fans!! Have you been saving up to take advantage of the unprecedented opportunities currently available in real estate? Don’t wait for inflation to diminish your savings. Purchase now with as little as 1% of the total purchase price up to $313,500.00. How does this work? The Los Angeles City Housing Department (LAHD) has a down payment assitance program to help first time buyers acquire a home. The buyer must have at least 1% of the purchase price and be able to qualify for a loan. The city will provide the additional down payment needed up to $60,000.00 plus an additional 6% of the purchase price for closing costs if needed. This money is paid back to the city upon sale or refinance on the following terms. If the buyer was qualified for a high ratio loan and only needed to borrow 5% of the purchase price, the payback would be the amount borrowed plus 5% of the net profit. If, in order to qualify, the buyer needed to borrow 20% of the purchase price, the payback would be the principle amount plus 20% of the net profit.
At first thought this may seem a hefty amount, but there are no payments on this money so that one might think of the city as a silent partner. Very few people other than a close relative would be willing to accept such a position without any control over the property. Lower priced properties are beginning to escallate in value. This is an opportunity for a buyer to be building equity in a property as the values go up rather than watch their buying power diminish with inflation.
Please be aware that these programs are only available as long as the funding lasts, there are income limitations, and not all buyers will qualify. For more information contact Michael Wolff at Wolff Financial 818-776-9272 or email at Service@WolffFinancial.com