What Does Homeowners Insurance Cover? You’d be surprised at what your homeowners insurance policy does not cover. The attached link wil provide insight into what does homeowners insurance cover....Facts you should know about homeowners insureance. Here’s what is and is not covered by your insurance. Read What does your homeowners insurance cover? The short answer is: “A basic homeowners insurance policy (called HO-1 in insurance lingo) covers your home and possessions if they’re damaged or destroyed by these things:Read more: http://www.houselogic.com/home-advice/disaster-insurance/what-does-homeowners-insurance-cover/#ixzz2ZQdo9Wd8 Visit houselogic.com for more articles like this. Copyright 2013 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
Home Equity Line of Credit (HELOC)
What to Do if Your Lender Cuts Off Your HELOC Read A home equity line of credit lets you borrow money as you need it can be a great way to pay for a remodeling project or an education — unless the lender cuts off your line in the middle of a home improvement or when your kid is only halfway through college. When a Lender Can Close Your Credit Line Although you may have paid hundreds of dollars in fees to open your home equity line, chances are the fine print says the bank doesn’t need your permission to freeze, reduce, or shut down your line if: Read more: http://www.houselogic.com/home-advice/equity-loans/home-equity-line-of-credit-shut-down/#ixzz2ZQWu4U3O Read more: http://www.houselogic.com/home-advice/equity-loans/home-equity-line-of-credit-shut-down/#ixzz2ZQTmEelM Visit houselogic.com for more articles like this. Copyright 2013 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
The Willows at Victoria Falls
With the upcoming occupancy of four rental buildings in August 2013, The Willows at Victoria Falls (a new luxury rental condominium project located in Victoria Falls at Central Parke in Laurel, MD), the homeowner residents are gearing up for the increase in traffic and shared use of the Club House facilities at the 55+ Resort Living Community. The residents of The Willows at Victoria Falls must follow the same condominium and Home Owner Association (HOA) guidelines, e.g., age restrictions. The new rental units were designed to look and feel like the current condo models with all the amenities, floor plans, space and the like. The Willows at Victoria Falls is situated in the heart of the Victoria Falls community, and is convenient to grocery shopping, restaurants, parks, walking trails, and tennis courts. The apartments feature spacious open floor plans, 9’ ceilings, large master bedroom suites, Kenmore kitchen appliances, double bowl stainless steel sink, 42” designer oak flat … [Read more...]
Mortgage News
Mortgage News you can use to help you purchase a home ! BB& T announced changes to Community Homeownership Incentive Program (CHIP) – The latest mortgage news updates this program that now requires a 3% down payment. Private mortgage insurance is waived. First-time home buyers and previous homeowners are eligible; however, income cannot exceed 80% of county median income. Wells Fargo Programs - Community Development Mortgage Program (CDMP) is 2% down payment (including gifts and funds from approved sources). No mortgage insurance required. Income must be below 80% of area median and borrower does not have to be a first-time buyer. Seller contributions up to 3%. Neighborhood Community Development Mortgage Program (NCDMP) require a 5% down payment (includes gifts and funds from approved sources). No mortgage insurance required. Borrower does not have to be a first-time buyer, but must purchase in a low-to-moderate income census tract. Reserves required … [Read more...]
Listing Agent’s Job
In addition, to advertising and marketing your property features to the world...... Your listing agent’s job is to work with cooperating agents (selling agent) to secure a purchase offer contract that will net the seller the highest return on their investment ……and one that will settle without delay. This means that from the onset your listing agent must do their due diligence in facilitating the purchase offer contract by ensuring receipt of a buyer’s pre-approval letter from the prospective lender upon receipt of the contract package. The listing agent should contact the buyer’s loan officer to determine if the buyer is qualified to purchase your home (before you sign the purchase offer contract), and if the buyer is solid financially to secure a final loan approval according to the terms in the contract. It’s the listing agent’s job to confirm receipt of a pre-approval letter from the buyer’s lender and any additional supporting documentation to verify the buyers’ ability to … [Read more...]
Streamlined Loan Modification
Freddie Mac has announced a Streamlined Loan Modification that should provide an efficient way for borrowers to avoid foreclosure and remain in their home. The Freddie Mac Streamlined Modification program is a temporary initiative that provides severely delinquent, eligible borrowers an opportunity to avoid further stages of delinquency quickly and without documentation. The Streamlined Loan Modification enables Freddie Mac Servicers to modify a borrower’s mortgage by adjusting interest rates, extending payment terms to 40 years, and providing principal forbearance for certain underwater borrowers. Some of the key features of the Streamlined Loan Modification include the same terms as the Freddie Mac Standard Modification program. Freddie Mac introduced an alternative to foreclosure that targets severely delinquent borrowers and eliminates the requirement for borrowers to submit a Borrower Response Package. The Streamlined Loan Modification offers a trial period plan in … [Read more...]
Short Sale or Foreclosure
Deciding to sell your home as a Short Sale or Foreclosure is an important consideration that most sellers never think about discussing with their mortgage lender and/or real estate agent. Not sure why most sellers do not pursue a short sale in lieu of a foreclosure, especially if they have a desire of owning another home in the future. So, with that said, here is a brief synopsis of the difference between the two. 1) In a short sale, the bank approves the sale of the property to a new buyer at a mutually agreed upon price. Usually, this price is determined after a seller has requested a short sale package and started the short sale process. The bank will order an informal appraisal through an agent or appraiser called a Broker Price Opinion (BPO) to determine the new market value. After the market value and terms of sale are determined by the bank, your agent can then list and market the property for sale. Selling short may allow the unpaid balance of your loan(s) to be … [Read more...]
Selling your home/Selling home in MD/DC
Selling your home in MD or D.C. can be a stressful situation without a trusted real estate professional to guide you through the selling process. Now, more than ever there are more contract forms, changes in housing regulations, agency agreements, etc., that are required to protect your best interest. It seems that now, when selling your home a seller almost have to be a lawyer to keep up with the changes in the market. With the advent of the internet, HGTV, DIY network and other similar television programs, buyers are more educated as well as informed about the buying process. The majority of buyers start their search online via the different real estate websites or networks approximately 90% of the time before going out to preview homes. By this time, most buyers have already researched and analyzed the particular neighborhood statistics, school district and crime statistics. When selling your home, be mindful of these facts and price your home accordingly to attract qualified … [Read more...]
Top Renovation Projects 2013
We are sharing this list of the top renovation projects for 2013 in the Washington, D.C. and Maryland Areas. With the housing market recovering, spending on remodeling projects is rising. Homeowners spent 9% more on renovations in 2012 than the previous year, according to an April study by the Joint Center for Housing Studies at Harvard University. Whether you’re considering increasing the resale value of your home....or you simply want to make your surroundings more comfortable, renovation spending is expected to increase again this year, the study says. The top renovation projects for 2013 that homeowners will make, according to the latest American Housing Survey, are upgrading appliances and major equipment as well as flooring, paneling, ceilings, windows and doors. Adding a garage at a median price of $15,000 is the most expensive project. Kitchen remodeling, at a median price of $5,000, is the next most expensive followed by roofing at a median cost of $4,559. According to the … [Read more...]
Down Payment Assistance for First Time Home Buyers
Down payment assistance for first time home buyers are available to purchase a home…… Why rent? Now is the time to plan to purchase that dream home in Laurel, MD, Prince Georges, Anne Arundel or Howard, or Montgomery counties...... If you are a first time home buyer or returning buyer and thinking about purchasing a home this spring take some time to ask a Realtor for a referral to a veteran loan officer who is knowledgeable about the many county grant programs available to assist you with your down payment. There are many grant programs available to assist buyers with their down payment assistance for first time home buyers and/or offer closing cost assistance. The grants are funded by the federal government and ready for immediate use by buyers. For instance, the Federal Home Loan Bank offers $5,000 to buyers for down payment assistance for first time home buyers based on certain income limits. The income limits are not that low and the funds are available for … [Read more...]
- « Previous Page
- 1
- …
- 5
- 6
- 7
- 8
- Next Page »