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Cars are large and powerful, and driving has risks. So some degree of auto insurance coverage is legally required. In most states, at least, basic liability insurance is required. If you drive without insurance, you can face expensive fines or have your license revoked even if you drive very well and don't have an accident. If you are involved in an accident, auto insurance can save you thousands in repair or replacement costs for your car and potentially another car or property. It's even more expensive to address human repairs. Medical costs from accidents can reach major sums. Many auto insurance policies include options for medical. Auto insurance is just a required aspect of owning a car. It's legally required and it provides financial and physical security when you drive.
Don't wait for a hundred year storm to learn about flood insurance. Here are some key facts. One, there's generally a 30 day delay before new flood insurance coverage is in force two. It's not just riverfront homes, one in five flood insurance claims are made from low risk areas. Three. Standard homeowners insurance will not cover floods. Fortunately there are solutions. Flood insurance is quite affordable. The Federal Emergency Management Agency says that annual flood insurance premiums can be as low as $112. You can purchase flood insurance from any insurance company that participates in the National Flood Insurance Program. You can supplement N F I P coverage with private insurance for additional coverage. Not having flood insurance is costly. Damage from that rising water could cost you thousands, even an additional loan on top of an existing mortgage. Visit flood smart.gov and talk to your agent to understand your options.
A reverse mortgage lends you money against the value owned in your home. Repayment is not required until the home is sold or the borrower dies. Then the loan amount plus interest is repaid by selling the home. The lender has a primary claim a ‘lien’ against the home to secure the loan and interest. Income from the proceeds of a reverse mortgage are generally not taxable. Owners still pay property taxes and insurance
The video puts this in more visual terms, but basically, a seller can respond to a buyers offer with changes - a counter - that improves the terms. You need to put yourself in their shoes and construct a modified offer that you think they might take that meets more of your needs. Then it is their turn - accept, reject, or construct yet another counter. It is an efficient market process, but beware: clauses and costs matter. Your broker should be closely involved in constructing a counter. Successful bargaining is best done with a win/win approach where each side is meeting their biggest needs and compromising others to reach an agreement. Remember that outside conditions like interest rates, and supply and demand, will keep evolving so you will need to be patient but decisive to craft an counter-offer that works for both sides.
Professional staging may include the exterior, but if you are doing it all yourself,try the five things outlined in this video. 1 - Landscape & lawn. Thats the first impression;make it a good one. Mow, prune, edge and get rid of junk! 2 - Paint And Clean! You do not have to do the whole house,but the front door and lintels should either be painted or cleaned. 3 - Leaks & Repairs Small visible problems can become large mental objectionsand change how someone feels about your house. Fix em beforehand. 4 - Pets Some people have allergies and concerns. Time for Fido to visit a friend. You werent including him with the house anyway. 5 - Get Fresh Eyes Have your realtoror a friend whos willing to be candidtell you what you missed.Or pay a staging professional for a report. We do not really see familiar thingswell - so let them be your test buyer so you can presentthe best first impression to the real ones.
As we show you in this video, start several months before the property is made available. Look through the eyes of a buyer What needs to be cleaned? Repainted? Repaired? Or tossed? Ask yourself - or a friend If you were buying this house what would you want to see? The goal is to show a home that looks good makes the most of it is assets like space and location and attracts as many buyers and as much demand as possible. Allow yourself enough lead time - not just a day or two - to make the most of the sale. And get help from a real estate agent - early.
This video could save some veterans thousands. VA loan applicants pay a funding fee - as of 2014, 2.15% of the total loan amount - which can be thousands of dollars.Some veterans and spouses are eligible for exemption. Broadly speaking, veterans who received disability benefits - current or former and who are NOT currently in debt to the government may be exempt from the funding fee.Some spouses may qualify as well. The key thing to understand is, exemption from the funding fee is NOT automatic! Borrowers must certify their veteran status, government debt, benefits and active service stateon VA Form 26-8937. It is important to tell your mortgage company that they need to submit this form EARLY in your home-buying process - if they just look up your records without submitting the form the VA will not begin the review and approval process and your home purchase could be delayed by weeks.
Major Veterans Affairs loan programs described in this video include: 1) Purchase Loans. These help eligible parties buy a home at competitive interest rates with little to no down payment and little or no private mortgage insurance. 2) Cash Out Refinance Loans which enable taking cash out of home equity to pay off debt, fund school or make home improvements. 3) Interest Rate Reduction Refinance Loans also called Streamline Refinance Loans can help veterans obtain lower interest by refinancing existing VA loans Other programs include: 4) Native American Direct Loans to help eligible Native American veterans finance homes on Federal Trust land. And 5) Adapted Housing Grants to help veterans with service-connected disabilities buy, build or modify a home suited to their disabilities. Many states offer additional resources to veterans, too. Talk to your home lender about your situation.
As the video says, the name is misleading - theyre not loans FROM the VA. The VA - short for US Department of Veterans Affairs - is the Federal military veteran benefit system. The VA administers benefits and services for Servicemembers, Veterans their dependents and survivors. Programs related to home loans are one of their key services. The VA is not a bank; they do not provide home loans themselves. But they do guarantee a portion of home loans provided to veterans and other eligible people by banks and mortgage companies. These guarantees enable lenders to provide more favorable terms. They are are commonly called VA Loans. They cover buying, building, repairing, retaining and adapting homes for personal occupancy by eligible Veterans and survivors.
The video puts this in more visual terms, but 203(b) is the most commonly used FHA program. It offers a low down payment, flexible qualifying guidelines limited lenders fees, and a maximum loan amount. 203(k) loans enable homebuyers to finance both the purchase and rehabilitation of a home through a single mortgage. A portion of the loan is used to pay off the sellers existing mortgage and the remainder is placed in an escrow account and released as rehabilitation is completed. Basic guidelines for 203(k) loans are as follows: The home must be at least one year old. The cost of rehabilitation must be at least $5,000, but the total property value - including the cost of repairs must fall within the FHA maximum mortgage limit. The 203(k) loan must follow many of the 203(b) eligibility requirements. Lenders will know specifics about improvement, energy efficiency, and structural guidelines.