Most of us have a vision in our minds of the dream home we really, really want to build. Unfortunately, we also think that it will never become a reality. Truthfully, it is not impossible. There are challenges but it can be done as long as you know how to finance the home and if [...]
The current financial crisis, brought on by the collapse of the housing market has more and more people looking for solutions to their property when they are upside down. An upside down property is one in which the debt on the property is greater than the value. Today, millions of homeowner are now upside-down on [...]
All across the country are commercial properties just waiting to be used again. For someone who has always wanted to go into business now has numerous locations to choose from. With so many choices, a new business owner can start out with the right financing and possibly the perfect location. We always hear about location, [...]
There is a difference between getting Pre-Qualified & Pre-Approved. A Pre-Approval is a document from the lender that confirms to the borrower a loan up to a certain amount based on a completed loan application, credit check, and possibly tax returns and employment verification. This Pre-Approval goes much further with a seller when submitted with [...]
Since current interest rates are low, now could be a good time to refinance your home in order to lower your mortgage payment. A lot of people are realizing that getting the mortgage paid off is the best way to put money in your pocket in the long. Of course, paying anything off early means [...]
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. [...]
The real estate crisis is still on shaky ground, especially commercial real estate. It is not expected to get any better. But for commercial real estate investors who have the funds, there are great prices to be found anywhere in the country. The values on commercial property are down about 30%, which makes prices very [...]
As everyone knows, property deeds and land parcels have been around for many, many years. As the years have gone by, some property deeds have been disputed by property lines. Sometimes, the story of a property gets blurry over time. Because of this, title insurance is a very important piece of insurance when buying new [...]
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, [...]
The real estate market is getting better but slowly. The year 2012 will be better in some ways such as lower interest rates and a lot of homes to choose from. But, the lenders are pretty tight when it comes to new mortgages. So, what do you need to buy your next home in 2012. [...]
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 [...]
Reverse mortgages are still an option for those that are 62 years old and older to be able to keep their home instead of having to sell it. The Federal Housing Administration is keeping the reverse mortgage option alive even after Wells Fargo and Bank of America have bowed out of that line of mortgages. [...]
The Securities and Exchange Commission (SEC) have filed fraud charges against the top ex-executives of Fannie Mae and Freddie Mac. This has been an ongoing investigation since 2008 and charges have finally been filed in New York City. Will this latest in charges go the way some of the others following the 2008 financial crisis? [...]
The recent economic crisis has many people rethinking how to buy real estate at a lower cost. Something new that the Washington, DC area has started seeing popping up are modular homes. No, not manufactured or mobile homes, but modular homes. These homes are just as pretty as traditional real estate but cost less. If [...]
You hear a lot in the news about foreclosures, refinancing and a slow economy. While all of those are very important, there is one aspect of the Washington, DC real estate market that is being overlooked. That is new home construction. It’s not just the Washington, DC area but the United States as a whole. [...]
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 [...]
There has been some very lucrative tax credits that last a few years when buying or making home energy efficient. However, the best part of those credits are just about gone as 2011 rounds to a close. So far, there has not been a tax credit decision for 2012 in Congress but existing homeowners who [...]
If you are looking for a home to buy, be careful about how you shop for a mortgage; it could cost you money. One of the most important assets you can take into a mortgage application is your credit score. Having a credit score over 700 is ideal while having over 740 is even better. [...]
Lenders are being extremely cautious in today’s real estate market. Five years ago lenders were offering ridiculous loans to home borrowers, often in the knowledge that a sudden downturn could see those home borrowers in deep trouble. That downturn came and now we have the reverse, well credentialed people struggling to find a mortgage lender. [...]
There are several ways to buy a property that has been foreclosed upon. For those who are quick on their feet and who have their finances all in order, court house step sales can see buyers gaining a great bargain. Buyers can also wait for third-party auctions. These are auctions that lenders arrange in order [...]
It doesn’t matter if you’re buying or selling real estate of any description, a good real estate agent is a must. At the end of the day, they can make a huge difference between a successful sale and a horrible nightmare, and no one wants the latter. You can compare a real estate agent to [...]
Mortgages in Virginia may well become a little harder for those who are on the borderline for mortgage qualification. The Virginia Legislature is about to start considerations on several bills designed to restrict some of the freedoms that lenders have experienced in the past. While ‘robo signing’ has been discussed a lot in the press, [...]
Here is a rhetorical scenario: You have a mortgage with a bank – either residential or commercial – and the institution fails. Would the bank call in the loan immediately? The short answer is no. The loan is an asset of the lender, and that asset would be sold to an investor. That said, commercial [...]
There are home buyers in the market at present that are finding it difficult to obtain mortgages and it’s not due to a poor credit history. In fact, many of these buyers have excellent credit history; the problem is, it is invisible to lenders. Over the years, credit unions and niche banks have worked well [...]
That was a mouthful – but to clarify, they are all aspect of real estate and part of a new government program. As of Monday this week (April 5) the Federal Government’s HAFA program came into effect. It’s another attempt to relieve home owners of the threat of foreclosure and to allow them a reasonable [...]
