Daily Archives: June 4, 2009
Fighting Property Taxes When House Values Drop
Are your property taxes rising while your property values are falling? Rising property tax bills are the bane of homeowners who live on a fixed income, as property taxes often rise a lot faster than the rate of inflation. In this year, where property values have shrunk 20 percent to 50 percent (hello, Arizona!), many homeowners are aghast to receive higher property tax bills. What can be done about it?
Great Loan Deals: Can You Finance Investment Property for 4 Percent?
Mortgage interest rates are super-low at the moment. But the best deals are for owner-occupied homes, not for financing investment property. On a recent radio show, a caller emailed Ilyce to ask about a great loan deal she supposedly got when she financed her investment property. Is it the real deal?
Mark Zandi: Housing Prices, Interest Rates Key to Housing Recovery
Mark Zandi, chief economist for Moody’s Economy.com, spends much of his time looking at housing and finance data to help figure out which way the economy is going. He believes that housing prices and interest rates are key to the housing recovery. When will the credit crisis abate? When will the housing markets recover? Zandi is optimistic that by 2010, we’ll see the housing market in a whole new light. Is he right?
What Does Buying a Home in “As Is” Condition Really Mean?
When you buy a home in “as is” condition, you’re buying it the way it stands. But for some home buyers, “as is” condition is a little confusing. They’re not sure if it means they can go back and sue the sellers if something is wrong physically with the house, or if the house also comes with the furniture and fixtures the way they saw it when they made their offer. What does buying a home in “as is” condition really mean?
Should You Buy a Car Before Closing on a Home?
Should you buy a car before closing on your new home? For many home buyers, when they’re looking for a new home they also happen to be looking for a new car, new appliances and new furniture. That’s a lot of cash leaving your wallet (or being charged in your charge card) all at the same time. It might also put you in danger of throwing your debt-to-income ratios out of whack. Mortgage lenders will pull a copy of your credit history and credit score when you apply for your loan, but they’ll pull another one just before you close. You don’t want to do anything, or buy anything, that will make your debt-to-income ratio look bad, or you risk losing your loan just before you close on your new home.
