Veteran buyers and active-duty service members are in the driver’s seat when it comes to purchasing a home. Besides, what seller would not enjoy the experience of helping a veteran buyer purchase a home? Veteran buyers have everything working on their behalf when it comes times to purchase a home. Check out these following points: • VA loans requires no money down • The seller can pay any or all of the buyer’s closing costs • Most lenders can help pay some of the veteran’s closing costs with just a small increase in the interest rate • A veteran can get all of their needed cash as a gift • A veteran can even borrow the money that they need for closing, as long as they qualify carrying that loan payment. • A veteran does not need a first-time home buyer program…so a VA loan can be approved and closed in 30 days • A veteran does not pay any monthly mortgage insurance Veteran buyers are the sought after buyer out there because a VA mortgage is the easiest type of mortgage to process…and … [Read more...]
Price It Right
Price it right! Yes, this explosive term means a lot when you are getting ready to list your house for sale. Arriving at the right price is no sales secret to ensure a successful sale. Pricing your home too high increases the chances that the home may not sell within a designated time frame. Although you may have tastefully decorated or extensively renovated your home to your lifestyle, some buyers may not see the home as a place they can call home. Consider that your improvements may or may not have an effect on the market value of the home. In fact, personalized decorating can even slow down the activity unless the style appeals to a wider population. Real estate agents are now able to upload multiple photos, virtual tours, property banners and headlines of your property features. And, buyers can sit at home in their PJ’s to preview your property. To price it right, the sales price must be based on several factors: • Size of the house and its special features and … [Read more...]
Reduce Closing Costs
Reduce closing costs by having a basic understanding of title insurance which could save you hundreds or even thousands of dollars at settlement. What is title insurance? Title insurance protects the homeowners from unforeseen or unknown events or circumstances that adversely affect the title or their beneficial use and enjoyment of their new property. A standard title insurance policy covers claims that arise from events that existed at the time you bought your home. These events can include forged documents and documents signed by persons posing as another, or who lack the mental competency, capacity or legal authority to sign. These standard policies also cover you if claims are made by persons who should have been included in a deed but were not, such as co-owners, heirs, spouses, corporate officers or business partners. An enhanced policy may be bought at the time you settle on your purchase. This policy is referred to as a “homeowner’s” title policy. This policy protects you … [Read more...]
Home Staging
Home staging prepares a home to sell while maximizing the home’s appeal to potential buyers. It can be considered a form of advertising, i.e., the process highlights a home’s positive features while minimizing any negatives. Statistically speaking, Home Staging has proven to be an effective marketing tool to sell a home faster and at top market value. There are many benefits to sellers to stage their homes. Obtaining the best sales price is one benefit that’s at the top of the list when presenting Home Staging to sellers. Just imagine how the Home Staging process can increase your final sales price. We know that a buyer’s emotions play a big role in their decision to purchase a particular home. Besides, sellers can write off the fees from the Home Staging services as an “Advertising Fee” which can influence a seller’s capital gain or loss on a property that has been sold. Staged homes look better than non-staged homes in the same price range and neighborhood. In addition, … [Read more...]
Buyers Closing Cost Rebates
Buyers closing cost rebates are becoming more prominent with mortgage broker for the various types of mortgage sources -- with different rules to consider for each type. Mortgage brokers have started advertising substantial credits to entice potential customers. Buyer’s closing cost rebates or credits could range from $2,000 to $5,000 per loan, but sometimes the rebates can go as high as $10,000 or more to help reduce borrower’s closing costs. In Kenneth R. Harney’s article in last Saturday’s Washington Post editorial under “The Nation’s Housing”, he provided the results of a survey of 164 member firms of the National Association of Mortgage Brokers. The survey found that mortgage companies provided more than $69 million in closing cost credits to buyers during last year, and on track to pay out the same amount or more this year. Mr. Harney noted that the Mortgage Brokers’ group estimated that brokers nationwide rebated upwards of $2 billion in 2012. Buyers closing cost rebates vary, … [Read more...]
Short Sale Programs
Short Sale programs like the Home Affordable Foreclosure Alternatives (HAFA) is a federal government program to help homeowners who cannot afford to pay their mortgages....want to avoid foreclosure..... and have exhausted all other loan modification options. The homeowner must meet certain hardship eligibility criteria, e.g., a divorce, loss of job, death of spouse or change in household income. Short sale programs allows homeowners to sell their home as a short sale or in layman’s terms -- selling the home for less than the outstanding mortgage balance. The lender will settle any outstanding mortgage debt and offer homeowners other benefits. Depending on the mortgage lender, these benefits could include relocation assistance up to $3,000 to those homeowners who must vacate after completing the HAFA short sale or a deed-in-lieu of foreclosure. Depending on your mortgage lender you may be entitled to other incentives that are available to eligible homeowners. The best time to … [Read more...]
Avoiding Foreclosure
Avoiding foreclosure is not out of the question for many homeowners.........Recent market analysis estimates show that there are millions of foreclosures in the pipeline waiting to be processed by Mortgage Banks or Servicing Companies. This high number of pending foreclosures is shocking news, especially when federal and state governments are constantly implementing new programs to assist distressed homeowners from avoiding foreclosure. These programs are designed to assist homeowners with their mortgage crisis and steer them to an alternative financing option to help them avoid the disaster of having a foreclosure proceeding attached to their credit history. Either the mortgage companies are not doing an effective job of convincing distressed homeowners of the alternative mortgage solutions to avoid a foreclosure; or, maybe, the distressed homeowners are riding the wave of fortune by not paying their monthly payment in lieu of pocketing their monthly mortgage payments. And, … [Read more...]
Foreclosure Process
Foreclosure Process: How State Laws Vary Foreclosure is a complicated, multi-step process—and each states handles it differently. Read Visit houselogic.com for more articles like this. Copyright 2013 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
Facing Foreclosure
Facing Foreclosure: What to Do Right Now If you’re facing foreclosure, don’t panic: Take steps right now to save your home or at least lessen the blow of its loss. Read Visit houselogic.com for more articles like this. Copyright 2013 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
Buy a Home after Foreclosure
Rules Loosen to Buy a Home After Foreclosure, But Lenders May Balk - You maybe eligible to buy a home after foreclosure. FHA and Fannie Mae are making it easier for homeowners who loss a home to foreclosure or short sale to buy again, but it might not make much difference if lenders don’t go along with the changes — since they don’t have to...... Read more: http://www.houselogic.com/blog/foreclosure-guide/getting-a-mortgage-after-foreclosure/#ixzz2fqbCkIRo New rules let you get back into homeownership sooner after foreclosure — in theory. Will lenders play along? Read Visit houselogic.com for more articles like this. Copyright 2013 NATIONAL ASSOCIATION OF REALTORS® … [Read more...]
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