Is it unwise to use the listing realtor as your purchase realtor? A house I’m interested in purchasing is being sold by the realtor selling my house. Although she’s done a decent job selling my house, I fear she won’t negotiate well on my behalf if she has to divide her loyalties between these listers …
Continue reading “Dual Agency: Using the Seller’s Agent as Your Buyer’s Agent”
A while ago, I had two publishers ask me if I would read books for review purposes on my site. I said that I would be glad to. One of the publishers included this little book on communicating between “suits” (businessfolk) and “geeks” (technical folk). Having a background on both sides of the fence (math, …
Continue reading “Book Review: The Geek Gap By Bill Pfleging and Minda Zetlin”
Life Insurance is something that nearly every adult should have, and almost every adult who buys goes about purchasing it the wrong way, at the wrong time, for the wrong reasons, and buys the wrong policy. Is that an indictment of the system or what? Let’s start with what life insurance is. Life insurance is …
Continue reading “Life Insurance – Proper Prior Planning Prevents…”
The question that inspired this was can a mortgage company use the flood insurance claim money towards homeowners mortgage loans? This is equally applicable to every other form of insurance on your home – earthquake, regular homeowner’s insurance, and any others that you may have or require. The short answer is yes. The reason that …
“What do I do when the loan falls through” That depends upon when it falls through and what situation you’re in. If you’re in a refinance situation, you generally keep making payments on your old loan until and unless you can find a refinance that is better that you qualify for. There is one exception …
Hello, I’ve been reading your website for awhile now, and have found it very helpful as I’m learning to navigate this crazy loan process! I had a question I was wondering if you could write about/answer. We currently have a mortgage and a secondary line of credit on our condo (we didn’t have a down …
Continue reading “Games Lenders Play, Part V – Selling a Low Payment”
I get occasional questions about the difference between these three kinds of activity. Well, there are subjective parts to the answer, but here are some general guidelines: A true flipper is looking for a quick turn on the property, usually without much work done to really improve the property. They don’t typically keep the property …
do mortgage company’s usually seek a deficiency judgment on home foreclosures Depends upon whether it is a recourse loan or not. A recourse loan is one where the lender can come after you for any excess amount of money you owe. Whether a loan is recourse or non-recourse varies with the state you are in, …
I got an ill-mannered complaint email about how an evil loan officer from another company ordered the appraisal without waiting for the inspection to be done, and it turned out there was a minor problem that the seller likely could have had repaired, but this clown chose to walk away, and as a result is …
Continue reading “Why Do I Have to Pay For The Appraisal When I Cancelled Escrow?”
Why doesn’t real estate just sell for the asking price instead of having to go thru all the paper work…? Wouldn’t it be easier to just put a price on it and sell it for that price? We don’t go thru all of that when purchasing cars or anything else. Where did this practice start? …
Continue reading “Why All The Fuss Over Real Estate Transactions?”
