Mortgage lenders indicate that the last thing they want to do is foreclose. Seizing a delinquent borrower’s house costs then money in lost revenue and increased (employee) overhead. The key to keeping the house is to make it less expensive for the lender to work with you than to foreclose on your loan. In about half of foreclosures, the delinquent borrower never talked to the servicer. The lenders biggest challenge is getting folks to respond to the late notices. Embarrassment and shame keep delinquent borrowers from talking to the servicers. Maybe it’s because the borrowers are financially unsophisticated, so the whole process is intimidating to them. They feel that if they just ignore it, it will go away.

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search for : Mortgage lender, delinquent borrower, foreclose

Buying land to build your a home is a complicated process. Terms like zoning, wetlands and building footprints fly about, as plans for the perfect home are patched together under the advice of a lawyer, real estate broker, architect and landscape designer. Each community will have its own restrictions that dictate how much of a given parcel can be occupied by structures, including the main house, detached garage, pool house and even a tennis court. A setback determines just how close a building structure can be to the property lines. With county zoning, there are setbacks even if you were building in the middle of a cornfield.

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Potential home buyers need to get their financial houses in order. People must be responsible for their own financial behavior that will keep others from putting them in risky loans. They need to know all sources of income and where every penny goes. One can’t know where costs can be cut until the potential homeowner knows in detail what those costs are. A budget will provide a roadmap to financial security. In addition to money for the down payment, lenders today will expect that the borrower has cash left over for insurance, taxes, maintenance and other costs that come with homeownership.

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The Center for Responsible Lending claims that the subprime market causes a net loss in home ownership, implying that if the subprime market were shut down, home ownership would rise, a startling claim that deserves careful scrutiny. To determine whether the subprime market increases or decreases home ownership requires a comparison of two numbers. The first is the number of homeowners who would not be homeowners if not for the subprime market. The second is the number of nonhomeowners who would be homeowners if not for the subprime market. If the second number is larger than the first, which the CRL claims to be the case, the market reduces home ownership. The CRL measures the positive contribution of the market as the number of subprime loans to first-time home buyers. It measures the negative contribution of the market as the number of subprime foreclosures.

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Beautiful Wilkes County NC Timber Frame Home and Mountain Property.

MLS Number: 51166, List Price: $898,500

2 Bedrooms, 2 Baths, 2 half baths, 2 car attached garage, full basement, and a barn on 5 acres of land.

These terms are used to describe thousands of homes and yet some things just can’t be described, they have to be experienced. This is one of those homes that really has to be seen to be appreciated.

This majestic Timber Frame home of the Bob Timberlake genre is not just another house, it provides a feeling of home that is not about walls and floors and windows and doors. It creates a feeling of the flow between your outdoor and your indoor environment that is seamless. Everywhere you look there is a view. Everything you touch feels natural and beautiful in a way that cannot be described, only owned.

Contact Elizabeth Carter, 336.973.5594 or Greg Stikeleather, Broker, 704.880.5247 or email eacarter@charter.net

click here for more information

September and October are the best months for preparing your lawn for winter dormancy. The first thing to do is fill in any bare spots by “overseeding.” Fall is the best time for establishing grass because the soil temperature is cool, and there is a lot less competition from weeds. Another thing to do over the next few weeks is to fertilize. Most home and garden centers are now carrying fertilizers designed for use in the fall. Homeowners should also check the soil’s pH level and make adjustments if necessary.

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Some of the most popular buyer incentives available in today’s buyer’s market are down payment help, a mortgage buy-down, prepaying HOA dues and offering to pay for a homeowner’s warranty. A surprise offer of leaving some home furnishings, especially those custom-made to fit a part of your house, can be profitably sacrificed if they help close the deal. After all, you likely know where and how to get another one. If the buyers are smitten with it, they may be more inclined to meet your terms if you agree to leave that prized puzzle piece in place.

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