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HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US.  As usual, the proposals were open for comment, and many thousands of them were received.  Mine was among them, and is shown ... more...

Are Mortgage Assumptions a Good Deal?
November 17, 2003, Revised December 20, 2005 ?I have been offered a deal where I take over the home seller?s mortgage. What are the pros and cons of doing this??  Benefit of Mortgage Assumptions to Buyers When a homebuyer assumes responsibility for a home seller?s ... more...

appraiser mortgage home value loan lenders construction related definitions

Second Mortgage, Home Equity Loan
Second Mortgage, Home Equity Loan A secured loan (mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence. Generally, second mortgage hass a higher interest rate and with shorter terms than a ... more...

Home Equity Loan
Home Equity Loan A home equity loan is borrowing against the equity you have acquired in your home. Lets suppose your original mortgage was $175,000.00, but your house is worth $225,000.00. The difference is $50,000.00. ... more...

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7 Different Ways Anyone Can Become a Real Estate Investor
Being a real estate investor is not really that hard, Sometimes you do not need any money down. Other times you do not need any of your own money down. Below are 7 Methods to buy property and earn money.1 - Buy and FlipThis is a Method where you buy Real Estate at below Market Price and sell ... more...

Appraisal vs. Market Value: How to Avoid Pitfalls in the Sale of Your Home
When you sell your home, appraisers use comps (comparable market sales) of local properties sold within the last six months to value your home. With todays rapidly rising sellers market, six-month-old information is ancient history. Appraised value does not always equal the true market value, or ... more...

Online Home Equity Loans: A Basic Glossary
Home equity loans can be a great idea for individuals looking to get out of debt or make necessary repairs on their homes. During the process, you will come across a variety of terms and acronyms. We have gathered together some of the basic terms that you come across during your home equity loan. ... more...

How to Choose Your Real Estate Lender
Because you need quick action when applying for a real estate purchase loan, find a lender you can access easily. A lenders quick response signifies good service to follow.Once you know your middle credit score, look for a lender appropriate to your specific needs. When ready to make offers to ... more...

Negotiating A Short Sale The High Road to Huge Foreclosure Profits
Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners are mortgaged to the hilt. They have no equity, and big loan payments. In fact, many actually owe more than the property is worth!Most investors will walk away from these deals because ... more...

Buyers Closing Cost
Buyers, borrower, closing costs can be divided into two categories. Nonrecurring closing cost and recurring closing cost.Nonrecurring closing costs on a one-time charge paid upon the close of escrow. Recruiting closing costs are peeping items that the buyer pays advance to help offset expenses ... more...

Construction Loan Basics
It might not be too big of an exaggeration to say that the construction loan is one of the more daunting aspects of building your custom home. Before we started our project, I had nightmares about trying to pay two full mortgages at the same time (our existing mortgage and the construction loan), ... more...

Guidelines For Assembling Your Real Estate Investing Team
Why Have A Team?It can be quite a daunting task, when youre starting out, to consider hiring accountants, lawyers and other professionals. Not only is the expense a concern but knowing who to consider and how to make a decision about who to utilize puts many people off. And it is for these reasons ... more...

Selling Your Home Yourself Pricing It Appropriately
When youre selling your own property, whether its a house, townhouse, condo, apartment, a finished lot, raw land, a farm, a ranch, or whatever, the first thing to get right is the price you ask for it. If you work with a broker, the legwork is done for you. When you work as a FSBO (for sale by ... more...

5 Things to Look for in a Property Appraiser
Homeowners who are seeking a property appraiser often ask How should I choose which real estate appraiser to use? When selecting a property appraiser, keep the following in mind:Always make sure a property appraiser is licensed or certified by the state to perform real estate appraisals. While ... more...

Home Buying: Things To Keep In Mind
So youve decided you want to own a home and now you want to begin your search for one. Before jumping into a home search, there are a few things you should keep in mind when going about buying a home.First things first, you cannot buy a home if you cant afford it! Dont assume how much you can ... more...

Termite and Moisture Damage Not Reported
I have done so many appraisals where I saw obvious damage that was not reported by the other inspectors. The first couple of times I thought it was just carelessness. I came to realize it was the same agents who had found what I call pocket contractors or repeat business. Most buyers are not aware ... more...


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