homeowners insurance
Flood Insurance May Be Required By Your Mortgage Lender
Flood Insurance may be required by your lender. Check the fine print of your mortgage to find out how much flood insurance you are required to buy. Some flood areas have been redesignated and you may be required to buy more flood insurance now. Consult a real estate attorney to help you understand the fine print in your mortgage contract and to determine how much required flood insurance you have to buy.
Ilyce Glink Show Notes – Atlanta Flood Special, September 27, 2009
Ilyce Glink Show Notes – Georgia Flood and Insurance Claims Secrets. Russell Longcore was a live guest on the show. We had a full hour of information about flood insurance, including Russell’s 7 Myths of Flood Insurance. Highlights of the 7 Myths of Flood Insurance are below.
Taylor Bean & Whitaker Mortgage Company Update September 1, 2009
Taylor Bean & Whitaker Mortgage Company Update September 1, 2009. In this post, highlights from our conversation with the director of mortgage supervision from the Georgia Department of Revenue and with a spokesperson from Bank of American about the 100,000+ loans it acquired from Taylor Bean & Whitaker. We’ve also posted online a Taylor Bean & Whitaker customer welcome from Cenlar, one of several servicers assigned to pick up Taylor Bean & Whitaker mortgages. We also have a new directive from Fannie Mae that was posted today, plus answers to many of your questions and postings. Also, there’s a link to all of the other Taylor Bean & Whitaker stories we’ve published.
Taylor Bean & Whitaker Mortgage Company Update From Sandra Sheley, Georgia Department of Banking and Finance
Taylor Bean and Whitaker Mortgage Company update for September 1, 2009. In Georgia, real estate property tax bills are due today. Thousands of Taylor Bean & Whitaker Mortgage Company customers have not had their homeowners insurance premiums paid in two months. Here is the latest information from Sandra Sheley, director of mortgage supervision with the Georgia Department of Banking and Finance. Story contains additional article links, resources, phone numbers, and websites for more information.
Today on the Ilyce Glink Show – June 21, 2009
Today on the Ilyce Glink show, Ilyce discussed her trip last week to Washington, DC for the National Association of Real Estate Editors (NAREE) meeting. We had a number of questions about long-term care insurance. Long-term care insurance is expensive, but it can be a lot more affordable if you buy it in your early 50s or 60s rather than waiting until you’re in your 70s or 80s, when it can be unaffordable.
Finding A New Insurance Agent
What is a consumer to do when a trusty, long-time insurance agent decides to retire? Insurance agents may have picked someone that they plan to transfer their clients to. Talking to your insurance agent before they’re gone will ensure all your concerns are addressed.
FHA Raises Down Payment Requirement For Mortgage Loans
Since the financial crisis it has become more difficult to get a mortgage loan without a down payment. The Federal Housing Authority, or FHA, raised the minimum down payment required to get a mortgage loan to 3.5 percent of the loan value effective January 1, 2009. In addition to having enough money for a down payment, you also need to have a housing cost-to-income ratio of no more than 31 percent. Housing costs include homeowners insurance expenses, property taxes and the mortgage payment.
Professional Home Inspectors Save Home Buyers Future Grief
Home buyers should spend the money and hire a professional home inspector before buying a home. A professional home inspector have a better chance of finding flaws that the seller may omit on a seller disclosure form, leaving the home buyer with additional expenses in the future. Home buyers who choose not to hire a professional home inspector, risk paying for damages to the home not disclosed by the seller in an effort to sell the home.
Short Sale Buyer May Lose Money
In a short sale, a bank agrees to let a homeowner sell a home for less than what the homeowner owes the bank on the mortgage. But what happens when a short sale falls through — when the home seller changes his mind at the last minute? The short sale buyer may lose money on an uncompleted short sale. The short sale buyer should contact a real estate attorney to understand his rights.
Buying Homeowners Insurance For Vacant House
A sibling asks about having a brother move into his widowed mother’s now vacant home to facilitate buying homeowners insurance. The family plans for the brother to buy the home but he can’t afford it until he receives his share of the estate. It’s a good idea to have the brother move into the home to help buy homeowners insurance, but it might not be necessary to sell him the home right away.
