Category Archives: Financing

18.45% for a 30 Year Mortgage?

With current interest rates running right around 3.5% or less for a conventional, fixed 30 year mortgage, it seems unthinkable that the rate could ever be anywhere near 18.45% but that’s exactly what it was in October 1981.  Had it … Continue reading

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Eight ways to improve your home appraisal | Reuters

Low appraisals can sometimes be an issue when buying or refinancing a home.  Here are some ways you can help the appraiser establish a more accurate value for your home. Eight ways to improve your home appraisal | Reuters.

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Seniors Warned to Be Careful with Reverse Mortgages

If you watch much TV at all, you’ve likely seen the ads saying how wonderful reverse mortgages are.  It’s easy to see how seniors can be lured into thinking they’re basically free money to do with as they please.  While … Continue reading

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Important Short Sale Info!!!

Starting November 1, if your mortgage is owned by Fannie Mae or Freddie Mac, it will become far easier to do a short sale (selling a home for less than the outstanding balance on the loan).  The servicers themselves (basically … Continue reading

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Are Home Owners Taking on Too Large of a Mortgage? | Realtor Magazine

Very interesting article on buyers who take on excessive mortgages.  Even the comments following the article are, for the most part at least, informative. Are Home Owners Taking on Too Large of a Mortgage? | Realtor Magazine.

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Tax Benefits of Home Ownership

Some articles are beginning to appear claiming that renting is now financially better than owning a home.  Read this article and see if you agree (I don’t): REALTOR.com: Tax Benefits of Home Ownership are Almost Too Good to be True.

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Why Property Taxes Go Up or Down

Property taxes are a confusing subject for many people.  Why do they go up (and sometimes down)?  Why does the value of a property change and how is that value determined?  A big question is:  if my property value is … Continue reading

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Buying a House With a CD

No, not a music CD.  And also no, not a Certificate of Deposit.  I’m talking about a Contract for Deed.  Most people don’t know much about CD’s but it can be an excellent way to buy, or sell, a home … Continue reading

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Repaying First-Time Homebuyer Credit

If you bought your home in 2008, 2009, or 2010 and received a first-time homebuyer credit courtesy of Uncle Sam, you may be required to repay it under certain circumstances.  The IRS has a handy online tool to help you … Continue reading

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Mortgage Rates Head Higher on Positive Economic Data

Things are looking up for the economy and also on the real estate front.  The bad news is that interest rates for mortgages are responding by going up.  The bad news isn’t all that bad though – for now the … Continue reading

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