You probably have heard the concept of making extra principal payments to reduce interest and payoff your mortgage early. The concept may be simple, but it is often overlooked and rarely practiced. A typical promissory note amounts to incredible interest over thirty years. For example, on a thirty year $100,000 loan at 9%, you will [...]
It’s been a few years now that the real estate crisis just keeps sliding downward, but have we learned anything from it? We are supposed to learn from our mistakes and consciously try not to make them again, right? Well, there are those who have not, but there are also people who are learning not [...]
Mortgage holders are really struggling in today’s economy. This leaves the door wide open for mortgage re-financers to come in and take everything you have if you are not careful. It’s easy to get sucked into a scam when you are wanting to lower your mortgage payments in order to save your home from foreclosure. [...]
While everyone knows and understands that the real estate markets have been bad, the economy has been bad and the job markets have been bad for several years now. What you may not know are the behind-the-scenes issues that have not helped the markets at all in 2011. Real Estate prices have really gone down, [...]
Foreclosure is not a pretty option for either the homeowner or the lending institution. The homeowner does not want to lose their home and the lending institution does not want to get stuck with an unpaid mortgage. That’s where loan modifications come in. So, do they work? Will the lending institutions agree to it? Probably [...]
For many, giving up their home is a stressful and upsetting thing to do. But, a lot have done it because they simply could not keep up with the mortgage for any number of reasons. The current economy has caused so many to give up a mortgage. The are pros and cons to any decision [...]
The dreaded words, “bad credit” is now heard from a lot more people than it used to be. Bad credit used to have a connotation that you just didn’t pay your bills. That is not the case in today’s world, necessarily. The latest economic crisis has hit home to many very hard. It’s not because [...]
Certainly, it is a well known fact by now that the economy struck many homeowners hard in the last year or so. There are now an overabundance of foreclosed property in the Washington, DC area as well as other parts of the United States. The lenders don’t want to and can’t keep these homes on [...]
The past few years have been an absolute nightmare on many people’s finances and investments. Literally thousands of people lost their homes through foreclosure. And, as everyone knows, a foreclosure is a huge black mark on your credit scores. But, it is not as bad as it seems in today’s market. Some lenders are realizing [...]
The rental market is a tough one at present with rental costs steadily rising across the country. Finding a new rental home can be difficult with many homes being snapped up within hours of becoming available. Life becomes very difficult for renters when their landlord falls behind on the mortgage and the lender decides to [...]
There are tens of thousands of Americans who are staring a foreclosure down and while the prospect of losing one’s home is not a happy one, it doesn’t have to be all bad. There are several things you can do that may prevent a foreclosure and if they fail there are several other steps you [...]
One area of real estate that has been popular in recent years is the the court step sale of a property that has been foreclosed upon. From the lender’s perspective, getting a reasonable return quickly is much better than holding the property for long periods of time, especially if the return is not much higher [...]
While some foreclosure errors are relatively simple to spot, identifying others – especially technical deficiencies – will require a lawyer. Nonetheless, home owners can do preliminary assessments on their own – and in many cases, they should be able to spot egregious errors. For example, home owners should be wary if the party suing in [...]
In today’s tough economic times, foreclosure rates are soaring. No city or town is safe from Green-Eyed Foreclosure Monster. But, once foreclosure is over and done with, those involved continue to have struggles ahead. It’s an ugly situation that no home owner wants to find him or herself in. Most people try to stop the loss [...]
If you are still early in the foreclosure, perhaps you just received notice from your lender that your home will be going to auction in a few months, then there is still time to possibly save it. Check out the following tips to see if any can help you in your situation. Sell the property: [...]
You’ve seen them, as we all have: Foreclosure homes that are being sold for a fraction of the cost of market price. Who doesn’t want to hit on a good deal and get their future home or future rental property for 1/3 or less the price it would cost on the traditional market? But this [...]
There are a lot of people around at present who have not escaped the latest economic downturn completely unscathed. For those who have experienced problems starting again can be difficult, especially if lenders are not looking at your situation favorably. The danger in being in this situation is that you give up that home ownership [...]
There are a lot of people who escaped the economic downturn with their credit ratings still intact despite really suffering from the consequences. Many were forced to sell everything to avoid bankruptcies or mortgage foreclosures. Unfortunately, having been through that experience, many are now reluctant to try again. That is an approach that is perfectly [...]
