Home Buying
Refinance Your Home or Buy a New House
Given a choice in this housing market, buying a new house may be a better long term option than refinancing your home into a lower rate mortgage. Q: My husband and I have approximately $140,000 left on our mortgage with …
Short Sale vs. Foreclosure Process
The choice might be to buy a home during a short sale, while in foreclosure or once the bank owns the home as an REO; each of these has its pros and cons in the home buying process. Q: I …
Buying a Foreclosed Or Short Sale Home
Buying a foreclosed or short sale home when you are downsizing. Q: We would like to down-size and are looking at a community with a lot of short-sales and foreclosures. Is there anyway to lessen the expected protracted period of …
Terminating Purchase Contract For Home
Once signed, it may not be easy to terminate a contract for a home. Q: My friend and I are in the final stages of buying a house. The property is going to be in her name only but some …
Money For Closing and Closing Costs
You need money for your closing and the closing costs and you usually have to send that money to the closing via a bank wire transfer. Q: I am buying my first home and I’m wondering how I actually pay …
Buy First or Sell First?
Q: I’m in the process of getting my primary house ready to sell in order to downsize. Its value is around $400,000. I owe about $150,000 on it and have no other debts. I won’t be finished with prepping my …
Why Homebuyers Aren’t Buying: Readers Talk Back
Q: I just read your article, “Why Homebuyers Aren’t Buying” and I wanted to offer an additional possibility. For us seasoned buyers, we have become corrupted by the current atmosphere of lending practices that are out there, and we probably …
Buying a Condo with a Problem, Who Pays?
Q: I live in San Antonio, Texas and looking to buy a condo. If there is a foundation problem with the property, who is responsible for repairing the problem? It’s a small condo complex of about 8 to 10 units, …
Buy A Foreclosure Or Buy A Short Sale?
Is it better to buy a foreclosure house or buy a home in short sale? Buying a short sale home involves lender approval before purchase and could take months.
Buying a foreclosure house owned by a bank is easier than a foreclosure home for sale by owner. It may be easier to buy foreclosed homes in some areas. When buying a short sale the home buyer must get bank approval before buying a house. The foreclosure process and short sale process is complicated.
Buying A Short Sale Headed for Foreclosure, Buy Now or Wait?
While planning to buy a short sale the house moves to foreclosure. Should you buy the home as a short sale or try to buy the foreclosed home at a foreclosure auction? Is it better to buy now or wait? Foreclosure auctions don’t guarantee a cheaper price and you might not get the home as you would in a short sale. When buying a short sale the buyer will know if they get the house or not.
