Choosing between VA renovation and traditional home renovation loans, or a VA loan in general doesn’t have to be tricky. It all depends on your situation and needs. For example, VA renovation loans allow you to purchase property and rehab it where some traditional home renovation loans don’t allow you to buy the land. And …
How to Know if a VA Renovation Loan is the Right Choice Read More »
If you are buying a new home, these 31 new home superstitions will help to ensure that you have years of good luck in your new house! Here’s how to bring good luck into your new home: When Shopping for A New Home At Your Closing While You Are Moving In When Shopping For A …
31 “Door Shutting” Superstitions For Buying a Home Read More »
An accessory dwelling unit (ADU) is an additional living space located on your property that is furnished with its own kitchen, living area, and separate entrance. Unlike a stand alone home, ADUs do not have a separate address, and in the US you cannot sell it on its own. And unlike multi-family structures including fourplexes, …
A deed in lieu of foreclosure is an arrangement you make with your lender to avoid foreclosure after you’ve exhausted all other options. When you make this agreement, you transfer your house’s deed to your lender. Your lender then forgives the amount left on your loan and agrees to not foreclose on your home. And …
What happens with your reverse mortgage after you die depends on if the person you want your house to go to is a co-borrower, a non-borrowing spouse, or an heir. Most of the time, a spouse will keep the home and get to stay in it, but that isn’t always the case. Let’s take a …
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The differences between pre-foreclosures, foreclosure auctions, and REO foreclosures (real estate owned) is that each one is a step in the foreclosure process instead of being a type of foreclosure. Each one of these steps follow one another and each one has opportunities for you to save your house, although they diminish as each progression …
Pre-Foreclosure, Auction, REO: What’s the Difference? Read More »
The difference between real estate taxes vs. property taxes is that real estate taxes are what the city or municipality you live in charges you for your property and based on the fair market value of your home, while property taxes are related to any moveable items you own. Examples of this include furniture, cars, …
Real Estate vs. Property Tax – What’s the Difference? Read More »
A reverse mortgage is a loan that allows seniors 62 and older to generate income off of their homes. Reverse mortgages work by calculating the amount of equity built into your home and then lending it out to you so that you can access it without selling your home. For example, if you have $50,000 …
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Ownership interest in a property defines your rights as an owner of a property or that you have a claim to the property. Ownership is the highest form of interest and typically gives you the full rights as an owner to do what you please with the property, within the limits of the law. You …
Pre-foreclosure means that your lender has issued a notice of default (a public notice filed with a court) and that they are beginning the process of foreclosure. Fortunately, pre-foreclosure does not mean that your house will be foreclosed upon and there are many ways to get out of pre-foreclosure. While pre-foreclosure may seem like a …
What Does Pre-Foreclosure Mean? And How to Avoid It. Read More »
