Loan Reduction Programs are Problematic for Many
Loan reduction programs are causing problems not only for the people struggling to get a loan modification, but also for people who aren't having any problems with their mortgage. For people who can pay their mortgage, the loan reduction program can seem unfair. If you are paying off your mortgage…
3-2-1 Mortgage Buydown Helpful For Work Relocation
A 3-2-1 mortgage buydown will reduce the interest you pay on your mortgage. A mortgage buydown is used by some companies as an incentive for work relocation and to help with changes in cost of living. A 3-2-1 mortgage buydown can help make your expenses more manageable, but should not be used as a…
Home Buying Tips and Financial Resolutions for 2010
It's that time of year again when Ilyce give you her home buying tips for the new year along with her personal financial resolutions for 2010.
Low Appraisal Caused By Declining Home Values Results In Change To Loan Refinance Terms
If you apply to refinance your loan and get quoted terms, can you force the lender to abide by those terms? What if your property received a low appraisal? What if declining home values caused your home value to drop below what you owe on your current mortgage? And what if you decide not to go…
Homeowners across the country may find that their home values are dropping and they owe more money on their mortgage than the house is worth. A report from Deutsche Bank predicts that almost 50 percent of homeowners will be underwater on their mortgage by 2011. The real estate property values of…
Home Value Affects Property Division
If you bought a home with a partner and later decide to split, you'll likely need to divide up the home as well. What's a fair way to buy one partner out of a house? How do falling home values affect the division of a home? Should you sell the home or buy the other person out? Either way, the home…
Credit Crisis, Recession Eases With Home Buying And Jobs
How can you tell when the recession has eased? Some of it is just a feeling, such as when the news doesn't sound as bad as it used to. Other signs of the recession lifting include an uptick in home buying at higher market values and a decline in customer service. Finally, people's worries about…
Declining Home Value May Spur Short Sale Instead Of Refinance
What can you do when you owe more on your mortgage than your home is worth? If you owe more than 105 percent of the value of the home you can't refinance under federal programs. If you're really eager to sell your home and move on you may want to try to do a short sale with your mortgage lender. In…
Home Buying Plan For Retirement
You may decide to change where you live when you retire - move from a single family home to a condominium. What should you do before buying a condominium for retirement? Research your credit and work to improve your credit score, if it's low. Find a real estate agent you trust and look for the best…
Estate Must Make Mortgage Payments, Not Heirs Of Inheritance
When you inherit property with a mortgage, paying off that mortgage loan is the responsibility of the estate, not the heirs. If the estate lacks the money to pay off the mortgage and the bank decides to foreclose, it should not negatively affect the credit histories of the heirs. While the heirs…
Selling Home In Skyrocketing Housing Market: Worth Capital Gains Tax?
Is it worth it to sell your home before living there 2 years and pay the capital gains tax - especially if you're living in a skyrocketing housing market. Despite the capital gains tax, if the market value of your home is increasing drastically, it might be worth it. But, if you have not lived in…
Property Tax, Homeowners Association Cause Confusion
Real estate taxes and home values are one of the most confusing issues for homeowners. Different properties can be be calculated in different ways, depending on the features of the property and where in the country it is located. In some cases, a community that has a large and profitable retail base…
A seller needs to sell their home fast and has no offers even though it is priced below market value. A comparative marketing analysis may be helpful in figuring out how long the average home in the neighborhood is sitting on the market. Looking at the real estate agent's performance might give some…
Use Living Trust Instead of Title Change For Inheritance
When you want to bequest property to someone it may be better to use a living trust instead of changing your home's title outright. If the person who you want to inherit your property is having marital strife, changing the title may cause the property to be considered part of the marital estate. In…
Basement Walls - 8-Foot Walls Versus 9-Foot Walls
Would giving a basement 9-foot walls instead of 8-foot walls add to the value of a home? There is no standard for the walls in basements, and could be a very local issue. A real estate agent would know what basement improvements could add to the value of a home.
Real Estate Agent Helps Determine Market Value
What's a good way to figure out the market value of your home or land? And once you've found the market value of your property and you decide to sell, how can you structure the sale so as to minimize or eliminate capital gains taxes? To figure out the market value it helps to consult with a real…
Real Estate Investment: Waiting For The Best Deal
Homeowners in some parts of the country such as Arizona, Nevada and Florida, are learning the hard way that their real estate investments may lose value. The growing number of foreclosures and short sales makes some wonder when the real estate market will hit bottom. If you're looking to purchase…
Maintain Property's Market Value In Property Swap
When you buy property at a reduced cost, will you risk lowering the market value of the property? A home owner asks about buying a property for less than what it's worth and selling his own property for a lower price. It's a good idea to work with an attorney to complete a property swap.
Quit Claim Deed Affects Cost Basis
How do you calculate cost basis on a home you receive through a quit claim deed? The type of home ownership is also a factor - for example joint tenancy. Learn how to do the calculation for cost basis and learn the rationale used to determine cost basis when families transfer home ownership using a…
Does having a pool in a townhouse community raises the value of each townhouse. This depends on whether other local townhouse communities have pools. A pool will cost townhouse residents more in fees and upkeep, but if it's the only pool in the area it can help increase your townhouse's value.
Bad Appraisal Of Home Value Leads To Loss Of Earnest Money
Mortgage lenders require appraisals before issuing home loans. What happens if the home you want to buy appraises lower than what the seller wants? It depends on the contract. The buyer may lose his earnest money if the home does not appraise out and the seller is unwilling to lower the price. It's…
Pinpointing The Price Of Real Estate
Home sellers can't pick appraisers but they can learn how appraisals are calculated and what current market conditions are. It can be tough to appraise a home accurately in a declining real estate market. A good appraiser will dig deep to understand high sales.
Estate Planning Includes Determining Trustees
When parents want to bequest real estate to their children they may want to use a quit claim deed when a trust is the better option. When you set up a trust you have to figure out who will be the executor and who will be the beneficiaries. Learn about the benefits of placing a property in trust…
How To Calculate If A House Is Worth The Price
Properties that once cost $100,000 are selling for 10 to 12 times that sum. How do you determine the true value of a home? There are many reasons why properties that seem too good to be true are still on the market.
Inheriting A Portion Of A Property
What happens when you inherit a fraction of a property? How can you work with the other heirs in a buyout of the inheritance? Determining a fair price for inherited property can be tricky in an iffy real estate market.
