A home buyer is considering stretching his pocket book and buying a new construction home in hopes that it will result in a big profit in a few years. Buying a home and hoping it appreciates is a risky move without a lot of wiggle room. The years of buying a home and having it appreciate quickly are over, for now.
A homeowner asks how to get a lien released if the mortgage company was bought out by another company. There should be a surviving mortgage company that continues to have the obligation to release the lien. The homeowner should be able to find out who purchased the mortgage company and call the department that releases liens.
A woman is divorced from her husband, who lives the the condo they purchased together. She has a deed of trust and a lien on the condo, but the husband refinanced under his name. If there is a lien on the property, the husband should not have been able to refinance, so the lien may not be effective.
Even if you are separated or divorced from your spouse, if both of you are on the mortgage, you are both responsible for paying the mortgage. You must make the payments on time, or both credit histories will suffer. You should consider selling the house, or refinance and work out a way to pay the mortgage on one income. It needs to be a joint effort to figure out how to pay the mortgage, even if you don't stay married.
When you have extra money is it better to pay off your mortgage or invest the money? It depends on the type of the mortgage loan and the interest rate on the mortgage loan. Paying off a mortgage may also depend on what stage of life you're in - whether you're still working or in retirement. In this case, Ilyce suggests waiting to pay off the mortgage loan because of its low interest rate.
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 versus using a quit claim deed. And discover what role the executor plays in the transaction.
Home inspection can save you a big headache in the long run. In a new construction condo, the new owners have discovered that the floors are not level. They want to go back to the builder and have him fix the floors. Make sure a home inspector checks everything, like the floors. Some difference in the floor may be normal. The owners need to talk to a home inspector, the builder and a real estate attorney to find out what they can do to get their floors fixed.
