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Improve Your Credit Score

Posted on June 23, 2014 at 12:00 AM

Take These Steps to Improve Your Credit Score A credit score reflects credit payment patterns over time, with more emphasis on recent information. You can check your credit report to read a summary of what goes into your credit score.Pay your bills on time. Delinquent payments and collections can have a major negative impact on a credit score.Keep balances low on credit cards and other "revolving credit." High outstanding debt can affect a credit score.Apply for and open new credit accoun... Read Full Post »

Foreclosure Forbearance

Posted on June 11, 2014 at 11:30 PM

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Forbearance is where the lender works with the homeowner to modify the existing loan and avoid foreclosure. (e.g., the lender might put the arrears at the back end of the mortgage, creating a longer time period in which to pay off the mortgage). Or the lender may allow the owner to pay a certain amount extra each month to make up the back payments. Sometimes they will put the back payments along with late penalty fees into a new loan

What is Foreclosure?

Posted on June 9, 2014 at 7:10 PM

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Foreclosure is the legal process whereby a creditor forces the sale of a property that was pledged as a security for debt owed to the creditor when that debt has not been paid. Usually the creditor is the "bank" or lending institution.

First Time Homebuyer Program

Posted on June 7, 2014 at 2:30 PM

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First Time Homebuyer Program Florida Housing�??s First Time Homebuyer (FTHB) Program offers 30-year fixed rate FIRST mortgage loans to first time homebuyers through participating lenders and lending institutions. However, if you are not a first time homebuyer, you may still be eligible if you are purchasing a home in a federally designated targeted area or are a qualified Veteran. This Program uses income and purchase price limits to determine eligibility. Additionally, a potential homebuyer mu... Read Full Post »

The Benefits of Owner's financing for sellers and buyers

Posted on June 6, 2014 at 11:30 PM

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There are many benefits for doing an?? owner-carry installment sale?? (owner financing, as opposed to conventional bank financing) for both the buyer and seller. Sometimes the advantages inure to the benefit of one or the other, but in most cases the transaction is "win/win" for both parties.

Benefits of owner financing for the seller

Most sellers of real property insist on the highest price and all cash. Sellers want a fast closing w...

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What are closing cost? How much are closing costs typically?

Posted on June 4, 2014 at 4:30 PM

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WHAT ARE CLOSING COST?

When you get a mortgage, you will need to pay closing costs, which are fees ??? charged by lenders and third parties -- related to the purchase of the home. So, in addition to owing the lender the down payment on the home and the principal and interest related to the mortgage, you will also owe the lender and third parties closing costs, which you usually pay at the time that you close on your mortgage. Most of the time, it is the home buyer who p...

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Rent to Own/ Lease Option

Posted on June 1, 2014 at 11:40 PM

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Sometimes the prospect of purchasing a house can be extremely intimidating. Potential buyers often overlook several options that can ease the process of home purchasing. One of these options is the "rent-to-own" alternative. In a rent-to-own situation, the buyer signs a contract which is a mixture of lease and an option to buy the house within a certain period of time. Then, the buyer lives in the house and pays rent with an additional rent premium that will be credited to the pur...

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