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Here’s what is so sneaky about FEMA’s methods. If you are one of the millions of people whose flood premium is escrowed and paid by your mortgage company, you probably ignore stuff from FEMA. Right? Your mortgage company will handle … Continue reading
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If you listen to the news even once in awhile, you’ve probably heard a commentator make reference to interest rates… and how they are helping to stimulate the economy. If the whole topic about interest rates makes you yawn, wake up!! You … Continue reading
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NO Money? NO Credit? . . . .NO Problem! Rent to Own . . . . Lease Purchase . . . . Owner Finance . . . . First of all, if the first line sounds a bit dumb, … Continue reading
Tagged bond for deed, buyers, credit, credit score, debt, finance, home, home loan, interim fincnce, landlord, lease, lease purchase, option to purchase, owner finance, poor credit, real estate, rent, rent to own, st tammany, tenant
This gallery contains 10 photos.
… and Credit Reports Quite often people may know their credit isn’t ‘stellar’, but when thinking about buying a home, they would like to know ahead of time just how bad (or good) it is. . . and often to their surprise, they … Continue reading
Tagged bad credit, buyers, credit, credit repair, credit score, debt, equifax, expirian, finance, free credit reports, free credit score, home loan, interim fincnce, mortgage, pre-approval, pre-qualification, quizzle, quizzle.com, repair loan, trans union, transunion
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NO ‘mysterious’ deposits to your bank accounts – Borrowing money for a down payment to buy a home is an absolute ‘no-no’ in the world of mortgage lending. If there is a chance you may not have enough for the … Continue reading
Tagged banker, borrower, buyers, credit score, FHA, FHA 203k, finance, for sale, home, home loan, homes, interim fincnce, lender, loan, loan modification, loan underwriter, mortgage, pre-qualification, repair loan, sellers
This gallery contains 5 photos.
Principle and Interest The first item on your house note will be the Principle and Interest (P&I) calculation based on the original amount of your loan. Using a good Mortgage Calculator, simply plug in the current interest rate and the … Continue reading
Tagged amortization, buyers, escrow, fannie mae, FHA, FHA 203k, finance, flood insurance, for sale, freddie mac, home, home loan, homeowners insurance, house note, HUD, insurance, interim fincnce, loan, mortgage, mortgage calculator, mortgage insurance, pmi, pre-approval, pre-qualification, principle and interest, property tax, short sale, st tammany, tax escrow
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I’ve had the privilege to work with some wonderful clients. Included are letters from just a few of them. . . . . It was a bumpy road, but so worth it!! My husband and I had been trying to … Continue reading
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SELLING A HOME? . . . .WHAT EVERY HOME SELLER NEEDS TO KNOW Have you noticed how many ‘For Sale’ signs there are today? Does it seem like hardly any are getting sold? Well, you are right. Selling a home with … Continue reading
Tagged advice, buyers, curb appeal, for sale, home, homes, how to, information, listing, mandeville, market conditions, pricing, real estate, sellers, selling homes, slidell, st tammany, staging
What is an FHA loan? The word ‘loan’ is a bit of a misnomer, since Federal Housing Administration (FHA) loans are not loans at all. What the FHA does is insure loans so that lenders can offer mortgage assistance to … Continue reading
Tagged bank repo, buyers, credit score, FHA, finance, for sale, home loan, loan, mortgage, pre-approval, pre-qualification, real estate
Reprint from The Mortgage Professors Website, April 19, 2004, Revised November 28, 2006, October 2, 2007, Reviewed April 10, 2011 — © 2011 Mortgage Professor The cost of using funds in a 401K as down payment should be compared with … Continue reading
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“If I’m not buying a repo or a ‘short sale’, why do I have to be pre-approved?” The answer to this will quickly become obvious once you understand what it means to be a seller in today’s market. In fact, … Continue reading