For the last few months Realtors have been told, “changes are coming”, but there was not a definitive answer as to what was going to change. Until just a few weeks ago some of my lenders that I refer to had not been trained. So if you don’t know how…Read More→
Sometimes when you talk with lenders everything sounds a little like they are speaking a foreign language. If you have wondered what the differences are between a 15 year and a 30 year mortgage this article may be of help. It will review the “GOOD” and “BAD” of each. If…Read More→
Recently I have read several articles about borrowers “fudging the truth” on their loan applications. It seems the lenders are now looking deeper into what you put on your loan application. One seemingly “innocent” lie is occupancy, claiming to purchase a home for full time occupancy then using it as a…Read More→
So you purchased property in 2014, are you taking the correct deductions? Don’t make one of the 9 sins on your taxes! Do you know how long to keep your real estate related records? I found some great articles for you related to Real Estate and Taxes, but before you…Read More→
Family Keeps Home after Reverse Mortgage Comes Due By Nancy Bolt, Senior HECM Solutions Counselor available at 239-628-9165 A good thing about working in the same field for a long time is learning how the rules actually affect the borrowers and the borrowers’ heirs. Although I have been sad to…Read More→
According to the National Association of Realtors 2013 Haunted Housing Report more than half of the responders are open to buying a haunted house. WOW! I am not sure I am as brave. I love Halloween, all the costumes and decorations and little kids trick or treating, but to live in…Read More→
Short Sale, Foreclosure or Bankruptcy: Which is Best for My Credit Score? By: Mark Martella, Esq. (c) 2013 I am often asked when meeting with a client who is facing foreclosure as to how the foreclosure will affect their credit score and whether it is better to do a short…Read More→
What is a Reverse Mortgage? This increasingly popular home loan allows home owners 62 or older to borrow against the equity in their home without having to repay the loan for as long as they live in and maintain the home. Instead of making monthly mortgage payments, the homeowner receives monthly…Read More→
Previously FHA had a two year waiting period after bankruptcy and three years if you had a foreclosure or short sale. All of that has changed. Now there is a one year wait period after foreclosure, short sale or bankruptcy. This will impact more than just real estate sales. This…Read More→
What is a Short Sale? En Español The concept behind the short sale is simple: To convince the seller’s mortgage lender(s) to accept a payoff for less than the balance due on the loan. Once the homeowner decides to allow the short sale, there is important paperwork needs to be…Read More→
