Home Ownership

Keep your head and avoid foreclosure

Avoiding foreclosure on your home requires direct communication with your lender even when you are just 30 days late. Your goal is to convince them that you want to keep your home and repay your loan.

Believe it or not, mortgage lenders don't want your home. They lose big time when they have to foreclose. So, armed with knowledge of your options, you can probably work something out. Delaying makes things worse.

Decide on a Neighborhood Before Going House Hunting

Instead of house hunting, we suggest that you focus first on the neighborhoods where you would like to live. We tell you how to size a neighborhood up before you call a Realtor. Ask any Realtor what's really important when buying a house and you'll get this response "location, location, location." It's true, but just how do you go about finding the right location? Glad you asked.

Taking Title to Real Estate and other legal matters

Consider your situation before deciding on how you will take title to your new home. Consulting a real estate attorney and accountant can save you future headaches. How should you take title One of the first things that a mortgage loan officer will ask you when you purchase real estate is how you want to take title. Don't assume that the mortgage loan officer or your Realtor knows. You should have an answer based on your situation.

Home Equity Accelerator Programs can save you a lot of money

Most houses cost between 2 to 3 times what they list for. Why? Because over 15 to 30 years you'll be paying all that interest to your mortgage company. You can reduce that considerably with home equity accelerator programs.

Most of us think that cost of the house is the list price. Some of our more informed readers will include settlement costs and maintenance in the cost of a home. These are all valid and would make total sense if we were buying the house for cash. More often than not, we won't be doing that.

Independent Home Inspections Not Optional for Savvy Buyers

Many older homes are 40-50 years old and have systems that may need to be replaced. Newer homes also need independent inspections to ensure that the major systems have been installed correctly and are operational. Getting an independent home inspection is one of the most important things you can do today when purchasing a home. In recent years many sellers would not even entertain a home inspection and many buyers waived one for fear of losing a house. That’s totally changed now that house prices are declining and it’s becoming a buyers’ market.

House Settlements- what really happens and how to prepare for it

House settlements are stressful. Knowing what to expect before, during and after your house settlement will make it less stressful. Count on signing many papers. We tell you what the important ones are. House settlements are stressful because there are many people and large sums of money are being exchanged. This is the information age, but in real estate paper reigns supreme. This article spells out your role and can make it less stressful. Prior to House Settlement

Eleven Tips on how to get a Good Home Inspection

Don't be bashful when doing a home inspection. Use your sense of smell, sight and hearing to uncover problems with a home' structural features and expensive systems. Ask questions and don't be intimidated by any Realtors. Buying a home is a major investment for most people. A home inspection can help you make a better decision about whether or not to purchase a home, and how much to pay for it. You'll also avoid some costly repairs.


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