Arguably, the biggest threat to homeownership is not the down payment or the mortgage rate. It is oftentimes the lack of knowledge and patience on the part of would-be homebuyers to seek out not just the perfect home but the right mortgage that goes along with it. These homebuyers’ mistakes, albeit common enough, only add to the costs of homeownership, something that you should … [Read more...] about Buyer Beware: Don’t Make These Homebuyers’ Mistakes
Real Estate Musings
So you decide to sell your home. Let’s say this is your first time and have little to no knowledge about how the whole home-selling process goes. Many home sellers prefer to take the DIY path and figure out things on their own. But how about those who are preoccupied with important matters and cannot dedicate much time to get things done?This is where a listing or real … [Read more...] about How Does a Real Estate Agent Help You Sell Your Home?
Just when you thought you got yourself a good deal on a home, your lender phones and tells you the plan-shattering news: you’re not the only one who likes it. Apparently there is someone else - or more - who found the property as appealing as you did. While this could most likely dampen your spirits, know that it’s not the end of the world - participate in the bidding war - and … [Read more...] about How to Win the Bid War
News flash (and it is really a news flash): the federal government is stepping into the 21st Century but not until after the first of the year. Hey, it's a start.As mortgage loan and loan modification applications are reviewed by lenders, one vexing bit of paperwork has always been the IRS form 4506-T. This form, signed by the borrowers, allows the lender to independently … [Read more...] about Government Greases the Wheel. Finally.
If you're in the process of modifying your home loan and your lender has said that your debt ratios are too high, can you get someone to co-sign with you to help bring those debt ratios in line?Part of the loan modification review is determining how to get your debt to income ratio within guidelines. If your rates adjusted upwards due to a sub prime hybrid or you've lost … [Read more...] about Will a Co-Borrower Help With a Loan Modification?