September 2012

There are 4 blog entries for September 2012.

There are so many loan and lender options these days that it can be very hard to choose which will best suit you. There are numerous online companies that offer “instant approvals” and other promising features, but it will absolutely be to your best interest to use a lender that is in your area. A local lender will be more convenient to get in touch with and will actually be able to sit down with you, face-to-face to assess your personal needs, something an online broker will never be able to achieve.

Consider this: local market knowledge

An advantage to using a local lender is that they will be personally familiar with market and lending trends in your area, not on a national average basis. Your local lender will be able to work closely with your

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You may have heard about REO sales before, but are they really a great deal? The acronym “REO” stands for Real Estate Owned. An REO home is a home that has gone through the foreclosure process, been available for auction with no buyer, and has now reverted back to the bank that held the previous mortgage. The general consensus about REO’s is that they are a good deal and a great investment; however this may not necessarily be the case.

To start off, some may have confused the term “REO” with a “foreclosure sale.” These are not the same. A foreclosure sale is the sale of a home that has been foreclosed on; generally these will be advertised in newspapers and will occur on the steps of the county/borough/municipality courthouse in which the property is

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Mortgage insurance or Private Mortgage Insurance, by definition, is insurance against a borrower's default, or insurance that a lender obtains against non-repayment of mortgages. In simpler terms, it is insurance that a borrower will pay to a bank, so that the bank is protected against sudden loss and non-payment by said borrower. It might not sound like the most exciting form of insurance, but for some home buyers it is the helping hand they need to get into a home. Traditional conventional financing on a purchase will typically require a 20% down payment, for some buyer-hopefuls this is not an affordable program. Mortgage insurance allows borrowers to attain a home loan for as little as a 5%, 3.5% or even 0%-down payment.

On a low down payment loan

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Your home purchase is more than likely going to be the largest investment that you will make in your lifetime, so it is important to make sure you are represented fairly and are getting the best value for your purchase. While every aspect in a purchase is important, there are a few key points in your contract that can make or break your deal, and knowing when to walk away if needed is powerful knowledge to have on your side.

Unrealistic Price.  We have all seen them. Whether the Realtor is clueless or the seller is ultra stubborn, some houses are simply priced too high. When writing an offer your Realtor will be able to do their own market research to determine a fair value for the home, which is the smart place to start with your offer. If a seller is

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