Making the Move Easy on the Kids
Making the Move
Easy On the Kids
Moving from one house to another is seldom easy and fun for adults, and it can be especially troubling for children. But if parents deal with their children’s concerns and needs thoughtfully, much of that distress and discomfort can be avoided.
1. The Chil ...
(Posted: 7/22/2008 11:40:33 AM) Permanent Link
Tags: [kids, moving]7 Reasons to Own A Home
Seven Different Reasons To Own Your Own Home
You've probably seen lots of financial arguments about why you should own your own home rather than rent. This includes budgeting (no rent increases) and the tax savings you'll most likely have. Now we're going to give you some reasons you probably hav ...
(Posted: 7/21/2008 8:26:03 AM) Permanent Link
Tags: [homeownership, home buyer]
How Banks Sell REO Property
How Banks Sell REO
The fact that a bank or loan company has the rights to a REO (Real Estate Owned) property and is trying to sell that property does not necessarily mean that the bank or loan company is going to sell the property at a bargain basement price.
Banks and mortgage lenders work i ...
(Posted: 7/18/2008 6:58:39 AM) Permanent Link
Tags: [foreclosure, reo property, bank default]
Rapid Rescoring
A rapid rescore of your credit score is just what is sounds like. If your credit report contains inaccurate information it can harm your score. Once the erroneous information is identified and removed or corrected, a rapid rescore can be done. This may be able to raise your score much faster than ...
(Posted: 7/16/2008 9:13:52 AM) Permanent Link
Self Employment and Required Documents
There are different types of self employment and different documents that are often required by lenders, for example:
Sole Proprietor - Schedule C Personal Tax Return
Partnership - Federal 1065 Partnership return. Personal income on K-1 and Schdeule E of 1040 forms.
"C" Co ...
(Posted: 7/14/2008 7:21:45 AM) Permanent Link
Tags: [self employment, employment documents]
Sources of down payments
Some people use their 401K money for a down payment. Normally, when someone takes money out of their 401K, the government imposes a 10% penalty for early withdrawal.
However, when it's used by a first-time homebuyer as a down payment, the government does not penalize the borrower for this tran ...
(Posted: 7/10/2008 11:29:17 AM) Permanent Link
Tags: [down payment, money down]
REO
Real Estate Owned. It is property which is in the possession of a lender as a result of foreclosure or forfeiture. ...
(Posted: 7/8/2008 10:42:09 AM) Permanent Link
Pros and Cons of Mortgage Insurance
If you are looking at financing more than 80% of the value of your your home you will typically have two options, either pay mortgage insurance on the loan or take out a 2nd mortgage for the balance above 80%.
Your credit history, and the estimated appreciation rate for the property will of cou ...
(Posted: 7/7/2008 7:58:29 AM) Permanent Link
Tags: [lower rate, intrest deductability]
Rate Lock
When shopping for a mortgage many brokers and lenders will often quote you in good faith in regards to what kind of interest rate and mortgage program you qualify for. You will also be given the opportunity to "lock" in for an interest rate should you qualify. ...
(Posted: 7/3/2008 8:40:22 AM) Permanent Link
Tags: [rate, rate lock, lock]
