Now-a-days , it is not unusual for a home inspector to arrive with an array of gadgets that will “see” through walls to provide clues to what’s going on inside them, that will measure the thickness of steel without poking through it, and that will analyze electrical circuits without dismantling the circuit-breaker box. One effective high-tech device used by home inspectors is the infrared camera. With a good one, a trained technician can get an idea of what is going on behind the walls, ceilings and floors. The camera allows an inspector to determine if there is adequate insulation and provides clues about hidden structural, electrical and moisture problems.

click here for article

With foreclosures spiking around the nation, homeowners should learn the foreclosure laws in their states - what you don’t know can hurt you. “The foreclosure laws tend to be very parochial,” said Lawrence Jacobson, a real estate attorney in Los Angeles. One major divide is whether the principle instrument securing the loan is a conventional mortgage or a “deed of trust.” They are not the same even though everybody uses the term “mortgage” interchangeably. Mortgages involve two parties, borrowers and lenders, while deeds of trust have third parties, called trustees, who hold temporary title to the properties until borrowers pay off their loans. That difference can be crucial when a borrower falls behind in payments. With deeds of trust, the trustees don’t have to go to court to initiate a foreclosure; with a mortgage, the lender almost always does, which slows down the process.

click here for article

search for : foreclosure law

Biweekly mortgage payments schemes don’t do much for you, yet they tend to cost a lot in fees and expenses. You can do as well on your own by making an additional principal payment each month with your current mortgage. You definitely don’t want to refinance your 4.5 percent mortgage in an attempt to find a way to pay off the loan in less than 12 years. I think you’re confusing the bank’s response on the biweekly mortgage with your ability to make additional principal payments on your loan. Ask your bank what would happen if you made an additional principal payment each month on your loan. Your monthly loan payment wouldn’t go down, but you would shorten the life of your loan.

click here for article

search for : Biweekly mortgage payment, shorten the life of your loan

Before you even begin the application process, you should be upfront with questions and as well informed as possible about the property. Know where your potential landlord stands on pets, qualifications for tenants and other possible deal breakers. If you do have any potential red flags, such as lack of current employment, need for a co-signer or having a checkered credit history, mention those things at the beginning. One of the worst things a potential tenant can do is make a property manager go through the whole application process only to find out they have credit problems or they need a co-signer.

click here for article

search for : credit history, property manager

Approximately $1.1 trillion dollars in mortgage loans was refinanced in the United States last year. Did you remember to take an increased mortgage interest deduction on your tax return if you were entitled to one? You are allowed to take a deduction on your personal tax return for mortgage interest you pay on a loan that is secured by either your principal residence or a second home, up to one million dollars in acquisition indebtedness. That means mortgages, lines of credit and home equity loans all qualify, as long as they are secured by your home, and you are the primary borrower, and legally obligated to repay that loan.

(more…)

search for : mortgage loans, lines of credit, home equity loan

• Beautiful and affordable NC Lakefront property near Boone NC
• Lakefront Lots on Kerr Scott Dam & Reservoir
• 18 Lots - 14 are Lakefront and meet private dock requirements.
• Gated community with Lots ranging from 2.3+- acres to 6.8+- acres.
• On the Hwy 421 side of the lake just off South Minton Road, Wilkesboro, NC 28697

click here for more information

search for : NC Lakefront property, Lakefront Lots on Kerr Scott Dam & Reservoir, Wilkesboro, NC 28697

Generally, sales fail to happen because the buyers discover something new about the transaction that they didn’t know after they made their offer. This could be new information about the property, the property condition, the neighborhood, how much they can afford or the price they agreed to pay. Often, the transaction may fall apart because the buyers couldn’t get the loan they needed to complete the purchase. Mortgage preapproval can be accomplished within a day or two, and ideally should be done before an offer is made. Preapproved buyers know they are creditworthy and how much they can afford to pay.

(more…)

search for : Preapproved buyer, creditworthy

When you obtain a mortgage loan, you will be required to sign a large number of documents, all of which contain terms which are a mystery to many potential homebuyers. And to make matters worse, you will be asked to sign a “power of attorney” authorizing the lender (or the title company) to make corrections should errors be found at a later date. Mortgage loan documents currently being used by most lenders do not meet this objective. “Most of us have had the experience of being overwhelmed and befuddled by the huge stack of documents full of confusing language in small print presented to us for signature at a mortgage closing.

(more…)

search for : power of attorney, mortgage closing

When you’re buying a home, one of the last steps of the process is to conduct a final walk-through of the property. These walk-throughs are usually scheduled the morning of or the day before closing — after the seller’s furniture and artwork has been removed — to verify that the new home is clean and in move-in condition. However, sometimes buyers receive surprises when they see what’s behind the decor: faded floors, holes in walls or dirty rooms that can make a buyer balk at going through with the closing.

search for : walk-through

Just listed is this one of a kind, 2.86 acre Main Channel, Waterfront Lot on beautiful W. KERR SCOTT LAKE in Wilkes County North Carolina.

Main Channel Waterfront.
2.86 acre Waterfront Lot.
Beautiful View of Lake.
Over 300 feet on main channel.
Wooded and Unspoiled.
Gated community and private, paved road.
Community water and underground utilities.
Has new dock, one boat slip and slip for two jet skis.
$359,000

Contact Greg Stikeleather, Broker, 704.880.5247 or email Greg at grstike@charter.net

click here for more information