Yes, I’ve always kind of liked Paul Simon. But this post was inspired by something I ran across from a title company. And just to make certain you realize what I’m saying, it’s fifty ways to lose your money if you don’t have title insurance. You don’t want problems from prior ownerships to interfere with …
Continue reading “Title Insurance, or Preventing Fifty Ways to Lose Your Money”
(The original article was from September 2005) From an email: Anyway, my wife and I are about to purchase a place here in the X area and we’ve been hearing that “a tough loan” line due to the fact that I’m only 10 months into my new small business although I’ve been profitable the entire …
I have mentioned this form several times in the past as the only form in the entire real estate loan process which is actually required to be accurate. Department of Housing and Urban development form 1, the so-called HUD 1 form, is required to be filed and correct for every real estate transaction. Whoever your …
I got a search result for how to get out of mortgage pre-payment penalties, although I’ve never really dealt with the issue. Prepayment penalties on real estate loans are something some people, often with less than stellar credit, accept, either in order to either get their mortgage rate lowered or because they don’t know any …
Continue reading “Getting Out of Paying Pre-Payment Penalties”
I’m clueless about how home loans work. Is there any way to figure out how much I can afford to spend per month on a home. If I were to get a home for $(figure) how much would that be per month? How do I know how much the interest will be? Any sites that …
Continue reading “How to Get From How Much You Make to A Payment You Can Afford”
i was sold a bad home mortgage who do you talk to That was a search I got the other day. The answer depends upon where you are in the process. If you’ve just applied, not yet signed the actual loan papers, go talk to another loan provider. It’s not like you’re committed to the …
One of the things people keep asking about is first time buyer programs. They exist, but lenders are not the first place to ask. Why? Because many, if not most lenders, actually charge a quarter of a point or so for first time buyers, in addition to their regular rates. They do this because so …
Continue reading “First Time Home Buyer Assistance Programs: Locally Based”
That question brought someone to the site. The answer is “Yes, they can”. As a matter of fact, just because they have you sign those documents does not in any way obligate that lender to actually fund your loan. There are two sections of conditions on every loan commitment. The loan commitment is what the …
Continue reading “Can a Lender Legally Stop Loan Funding After Signing?”
One of the most useless and overworked items in the real estate industry today is the pre-qualification for a loan. Sellers want buyers to be “pre-qualified”, and buyers are seeking “pre-qualification” to convince buyers they are serious. The level of work done for a pre-qualification varies. In some rare instances, the loan officer doing the …
