Author: Admin
How Do I Remove a Spouse From an Existing Mortgage Without Divorce?
Removing a spouse from a joint mortgage requires that the lender agree to the removal. Since the mortgage was originally underwritten jointly, releasing one party from the obligation to repay the mortgage usually weakens the lender's position. A lender may agree to allow you to stand alone, or it may require that you alone refinance…
What Does a House Appraisal Consist Of?
In a real estate transaction, the buyer wants to ensure he isn't paying more than a property is worth. At the same time, the lender wants to provide financing that will not leave the borrower overextended with debt in a house that isn't worth the mortgage amount. That's why the appraisal is so important: It…
How to Profit From Your Home Sale
There was a time when homeowners put their houses on the market as-is, and hoped for the best with regards to how much money they made on the sale. A lot has changed since then. Homeowners have become more investment-savvy, understanding that, although there’s a large emotional investment in their home, the financial investment is…
Top 5 Value Enhancers When Buying a Foreclosure Home
Foreclosed homes are often some of the most affordable homes in today’s real estate market, and both homebuyers and investors are attracted to them for their long-term financial benefits. If you recently purchased a foreclosed home or plan to in the near future, you might want to consider adding a few (or all) of the…
How are Short Sales on a VA Loan Different?
Today’s veterans have President Roosevelt to thank for their housing benefits. Signing the GI Bill of Rights into law provided our service members – who fight so hard to maintain the American dream – the chance to actually achieve it themselves: a federally guaranteed home loan with no down payment. Like the Federal Housing Administration’s…
The Right Stuff: Which Defects Offer the Most Opportunity for Profit?
Successful flipping isn’t just a matter of finding a house and fixing stuff that’s wrong with it. Successful flipping means finding a house with the right stuff wrong with it! One of the problems with the flipping approach to properties is that the repairs and upgrades that tend to add the most value are typically…
Tax and Credit Implications of the Short Sale
Is this really the ultra-savvy financial move it is made out to be, or are real estate agents and foreclosure rescue firms glossing over the ugly tax and credit implications of a short sale? Why Care About My Credit if I Already Have Late Payments? If you have already taken some hits to your credit…
Understanding the HUD/FHA Short Sale Process
Distressed homeowners who have exhausted most other methods to avoid foreclosure on their homes typically decide to perform a short sale. If you have an FHA-backed loan, you’ll be happy to learn that the United States Department of Housing and Urban Development (HUD) offers a program, known as the Pre-Foreclosure Sales Program, which allows the…
Real Estate Pro of the Week: Robert Russell of Dallas, Texas
You will be corrected if you mispronounce Monroe, birthplace of Robert Russell, this week’s Real Estate Pro of the Week. This genial Louisiana native and Texas transplant will give you plenty of opportunities to get it right though. Robert came to the world of real estate after a successful stint in the insurance business. “I…
How to Buy a Short Sale Home
What ever happened to the days when a homeowner who just wanted to sell his home found a willing buyer and, after several negotiations, the home sold? The economy, silly. The real estate market’s tumble into the ashes flooded the market with “distressed properties” – a sweet euphemism for homes that the owners could no…