Reverse mortgage loan amounts depend on: the age of the borrower, or the youngest spouse for a couple; the appraised value of the home - appraisal will be required; and current interest rates. Reverse mortgages involving government programs are subject to current FHA lending limits. In general, the older you are the less you owe, and the more valuable your home the larger the amount for which you may qualify.

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

As you will see in this video, real estate marketplaces are generally most active in summer because families with children want to move in before school starts. So more homes are typically available in summer as well. But buyers and sellers tend to balance out in other seasons, too especially in todays tight market. There may be fewer buyers in late December but usually fewer homes, too. So, prices tend to rise or fall on general demand in that market rather than time of year. It is best to sell when you & your house are ready to sell. Start working with a real estate professional as early as possible to make the most of your sale in any season.

Watch this video to get a quick idea of the sellers side of closing. Also known as settlement and escrow the closing is a meeting where property, money, title and liens are exchanged between all the parties involved. The closing agent typically conducts the meeting. Theyll review the sales agreement to determine payments and credits due from both sides, and ensure that transaction costs like title and taxes are paid. The buyer pays you - usually the remainder of down payment and prepaid taxes. Adjustments like prepaid OR overdue taxes And, of course, commissions for brokers or agents are included. The buyer signs the mortgage note, promising to repay the loan and then signs their lien on the property. The lender pays you. You sign a deed, giving the buyer title to the house Title is recorded by the State,making the buyers the legal owner.

Well, as this story shows, theres more to an offer than the price tag. Factors you should consider: Is this offer at, near or above my asking price? Are there clauses and additions in their offer that change the terms and final price substantially? How long since I had another offer, or expect another offer? Can I wait? Remember every month you are probably still paying mortgage, taxes and insurance. If you have several offers... remember that an offer isnt a completed sale. Compare the risk and likelihood of a completed sale for each buyer including things like contingencies, where your sale depends on their sale. and whether theyre pre-approved for the offer theyre making. Remember you have three options for an offer - accept it reject it or prepare a counter-offer that improves the terms for you in some way.

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.

For many homes and markets, professional help from someone in staging makes good financial sense. Like this video say,check your staging options first. If you are doing it yourself,here are 5 key tips. One - Depersonalize. You want the buyer to envision this house being their home? Remove the things that make it YOUR home - photos, awards, collections, and STUFF. Two - MOVE the stuff. It is tempting to shove things in closets and atticsbut your prospective buyer will see a much smaller house if those spaces are full. Move it to a storage space or a friends garage. Three - Warm it up. Baking bread or cookies adding fresh flowers and colorful pillows and throws are touches used by professional stagersto make a place warm without your stuff. Four - Light it up! Light sells homes. Clean windows, inside and out. Light bulbs all workingand curtains open or even gone. Five - Go Away. Dont hover - leave. Pack for a day tripand have your realtor tell you when to return Buyers will not envision themselves buyingif you are around. Depersonalize and move stuff out; Warm it up and light it up. Then leave and let your realtor do their job.

This video highlights the rules. If a veteran with a spouse purchases a home with a VA loan they are not eligible for another VA loan until that loan is paid in full. If the veterans spouse is awarded the property in a divorce settlement the veterans entitlement cannot be restored and they cant obtain another VA loan until their ex-spouse refinances the property and/or pays off the VA loan in full. If the ex-spouse is also a veteran they may be able to substitute their entitlement; consult with the VA for situations with this level of complexity.