Credit scores for millions of Americans may soon increase due to two major changes in credit scoring. Starting July 1, the three major credit agencies — Experian, Equifax and TransUnion — are dropping certain negative information from credit reports, including tax...
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Tired of Paying FHA Mortgage Insurance?
Many Maine homeowners ask me how they can remove FHA monthly mortgage insurance premiums with their mortgages. FHA insures mortgages so that lenders will be encouraged to make more mortgages available for people. The FHA mortgage insurance agreement is between FHA and...
Here’s a quick way to check out home sales near you.
When you sell or purchase a home, its appraised value is based largely on recent sales of similar properties nearby. Looking at recent sales can help you better understand the value of your own home or one you may someday hope to purchase. Here’s an online...
What Opportunities Have You Missed?
Buying Stock in Apple Computer for less than $10 per share. Buying up farmland during the Great Depression. Building a website to connect your friends before some kid from Harvard did it first. “I was seldom able to see an opportunity until it had ceased to be one.” –...
Take action to buy a home for the first time.
We all know the old line about location. But buying a home takes research, research, research, too. You will want to determine: How much you can comfortably afford. The pre-approval process, which entails full documentation and credit check, is the best way to...
5 Reasons You Might Need To Consider Non-Traditional Financing
Private Money financing refers to loans collateralized by real estate, where the source of the funds used to close Real Estate transactions come from private investors. The decision by the investors to make a loan is based primarily upon plenty of equity in the real property securing the loan thus reducing the risk of loss.
Know Your Real Estate Disclosure Laws Before You Sell Your Home
When deciding to sell a piece of real estate, there are certain things you must disclose about the property to the buyer before the sale can go through.
Disclosure laws are put in place to protect the buyer from unknowingly purchasing defective property. Not disclosing certain information about the property can jeopardize the sale, or worse, invite a lawsuit.
3 Tips To Sidestep These Common FHA Loan Hang-ups
FHA loans are becoming increasingly popular these days as potential homeowners are not able to qualify for mortgages from traditional lenders. The FHA insures these high-risk loans, in turn allowing borrowers with low down payments and less than perfect credit to purchase homes and bolster the housing market.
Reasons Why You Should Consider Refinancing Your Mortgage
Refinancing a mortgage is a golden opportunity to lock in today’s low interest rate for the next 15 or 30 years. While interest rates now are still low, there’s a good chance they will be heading up in the coming months.