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Did you know you can buy a multi-family residence, up to four units, with an FHA loan? That’s right. The only stipulation being that you intend to live in one of the units. For an owner/occupant investor who might be … Continue reading
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Over the years I have come across a number of situations where the heirs to a real estate succession based the property value solely on the appraised value of a home. . . and one heir ended up buying the property … Continue reading
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Yes! . . . and it is not a gimmick nor is it VA. It is a little known federal program called USDA Rural Development. Unlike most loans, a USDA-RD loan is unique in that the property itself is the … Continue reading
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All of us have seen the advertisements on TV about the ‘Reverse Mortgage’ – but how many of us really believe a TV commercial? Is it just a gimmick so the bank to get hold of our house? Well, the … Continue reading
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NO ‘mysterious’ deposits to your bank accounts – Borrowing money for a down payment to buy a home is an absolute ‘no-no’ in the world of mortgage lending. If there is a chance you may not have enough for the … Continue reading
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Principle and Interest The first item on your house note will be the Principle and Interest (P&I) calculation based on the original amount of your loan. Using a good Mortgage Calculator, simply plug in the current interest rate and the … Continue reading
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When you sell residential property in Louisiana, you are required to fill out a full and complete Property Disclosure report that is then made available to all prospective buyers. So what if you know something really bad about your house … Continue reading
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When Negotiating a Home Sale – Should you always start with a really low bid? Well, that depends… How much do you care whether or not you get this particular home? The most successful sales are WIN-Win. The buyer gets the home … Continue reading
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Are you thinking of selling your House For Sale By Owner? (FSBO) Marketing a house today is NOT the same as marketing it 10 years ago. Even if you did this once before, you have to do so much more today … Continue reading
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When planning to buy a home, most people save for their down payment, but give little or no thought to closing costs. . . or if a first time homebuyer, may not know what closing costs are. Closing costs are … Continue reading
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When you see a ‘for sale’ sign, are you tempted to call the agent? …Try to negotiate price and terms with the very person hired by the seller to represent the seller? Come on… You’re smarter than that!! What about … Continue reading
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If you listen to the news even once in awhile, you’ve probably heard a commentator make reference to interest rates… and how they are helping to stimulate the economy. If the whole topic about interest rates makes you yawn, wake up!! You … Continue reading
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Most people are under the assumption that all foreclosed homes are bargains. Well. . . YES and NO YES if you are looking for a home priced under market value. NO if you are looking for a home in super … Continue reading
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Real estate agents come in all colors, shapes, sizes and personality types, but the best ones all have one thing in common. They are self-starters and all highly motivated…. and there are also no income limits!! Continue reading
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What is a Bond for Deed? A Bond for Deed is actually a Deed in Trust and is used as a type of owner financing. It is in fact, an interim finance program whereby the deed is held in trust by a bonded … Continue reading
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Here’s what is so sneaky about FEMA’s methods. If you are one of the millions of people whose flood premium is escrowed and paid by your mortgage company, you probably ignore stuff from FEMA. Right? Your mortgage company will handle … Continue reading
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As you’ve probably seen by now, there are beautiful homes in every price range. Right? And with so many homes coming on the market every month, how can you possibly choose? Well, the answer is, take it in logical steps. … Continue reading
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Reports are surfacing once again relative to rental housing scams. Awhile back GSREIN alerted its members that the Federal Bureau of Investigation had issued a consumer alert affecting real estate listings in a rental housing scam. The scam involves Criminals searching … Continue reading
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If you earn enough to pay your bills, but are always just a day ot two late, this small adjustment to your bill paying methods could save you lots of money and add an add’l 50 points to your credit score. … Continue reading
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Yes! . . . And it’s called a ‘Soft Second’ A ‘soft second’ is money provided only to first time homebuyers. The program will provide up to 20% for a down payment (limited to $30,000 and a $200,000 home price … Continue reading
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Tradition runs deep in Covington, co-existing alongside innovation and progress and a love of the arts. Covington enjoys a community of the arts, from painting to acting, sewing to singing. If you consider yourself an artist, Covington is the place … Continue reading
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Located in St. Tammany Parish, Louisiana is the city of Mandeville, LA. It is on the northshore of Lake Pontchartrain and across the lake from New Orleans and is part of the New Orleans suburbs. Being a part of the … Continue reading
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SLIDELL, LA is on the north shore of Lake Pontchartrain, nestled in the southeastern tip of St. Tammany Parish. Surrounded by rivers and bayous, Slidell is the largest municipality in the parish, growing from a population of 364 in 1890 to … Continue reading
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Nestled right next door to Covington, Abita Springs is a picturesque town known for its historic district and its refreshing spring water. Abita Springs has that small town atmosphere everyone who lives in the big city craves. Originally, Abita Springs … Continue reading
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For the first time homebuyer, the transition from tenant to homeowner might feel perfectly natural… like a duck to water. But for others, it’s a bit more of an adjustment… Especially the financial implications. With today’s low interest rates, it’s … Continue reading
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The main thing to know when negotiating a short sale is that it’s always going to be priced somewhat below market if for no other reason than the fact the seller is looking for a quick sale. I recently had … Continue reading
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This has nothing to do with real estate, but it does have to do with customer service. This afternoon I went to my nearby home improvement store to get a new water filter for my fridge. After I walked around … Continue reading
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Do you let buyers bully you and waste your time? I recently had a listing with a quick-sale price tag of only $449,000. The home was a 4 yr old Fr Colonial with 10’ ceilings, 5-BR/4-Ba in a gated waterfront … Continue reading
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NO Money? NO Credit? . . . .NO Problem! Rent to Own . . . . Lease Purchase . . . . Owner Finance . . . . First of all, if the first line sounds a bit dumb, … Continue reading
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Buying a Home . . .And Why You Should be Working with an ‘ABR’ Whether you are a first time homebuyer, or it’s been quite a few years since you bought your current home, buying a home may seem quite daunting. Well, sit … Continue reading
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… and Credit Reports Quite often people may know their credit isn’t ‘stellar’, but when thinking about buying a home, they would like to know ahead of time just how bad (or good) it is. . . and often to their surprise, they … Continue reading
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I’ve had the privilege to work with some wonderful clients. Included are letters from just a few of them. . . . . It was a bumpy road, but so worth it!! My husband and I had been trying to … Continue reading
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SELLING A HOME? . . . .WHAT EVERY HOME SELLER NEEDS TO KNOW Have you noticed how many ‘For Sale’ signs there are today? Does it seem like some just don’t sell as fast as others? Well, you are right. Selling … Continue reading
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Navigating Short Sales: What to Do When the Sale Price Leaves You Short If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of … Continue reading
What is an FHA loan? The word ‘loan’ is a bit of a misnomer, since Federal Housing Administration (FHA) loans are not loans at all. What the FHA does is insure loans so that lenders can offer mortgage assistance to … Continue reading
Reprint from The Mortgage Professors Website, April 19, 2004, Revised November 28, 2006, October 2, 2007, Reviewed April 10, 2011 — © 2011 Mortgage Professor The cost of using funds in a 401K as down payment should be compared with … Continue reading
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The LA Real Estate Commission requires that when a real estate agent meets you for the first time, face to face – and before showing you homes, discussing financing, or anything other than simply answering questions – that we provide you … Continue reading
What’s the difference??? There are three types of home-sales that require you to be Pre-Approved. REO’s (home foreclosures) Short Sales (sale price is lower than the sellers mortgage payout) ‘Relos’ (homes being sold by a seller’s relocation company) Add to that, ordinary … Continue reading
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“If I’m not buying a repo or a ‘short sale’, why do I have to be pre-approved?” The answer to this will quickly become obvious once you understand what it means to be a seller in today’s market. In fact, … Continue reading
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OK….this is it. 2012. The year everyone says we will see more repos and ‘short sales’ than in 2010 or 2011. As bad as that sounds, it’s a huge opportunity for buyers. Unfortunately there are so many buyers who are … Continue reading
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Since Hurricane Katrina and the rash of repairs and new construction that followed, we have seen a higher than normal incidence of homes contaminated wth Chinese drywall. YES. . . contaminated!! As in poisonous!! These homes are not fit for … Continue reading
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Could this Really Influence How You will Choose Your New Home? Are you predominately a ‘LEFT Brain’ or a ‘RIGHT Brain’ person? Believe it or not, which one you are, can influence how you choose your next home. The LEFT … Continue reading
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In this market, agents are quite often asked which is better… An FHA 203k or a Fannie Mae Homepath loan? The following is a reprint from a blog by Justin McHood who works for Academy Mortgage and is based in … Continue reading
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Slidell – A Boater’s Paradise If you are tired of the same ol’ same ol’, you must take a closer look at Slidell. This small city is indeed a boater’s paradise! No other community in Louisiana has as many beautiful … Continue reading
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Have you recently suffered a major financial loss and can no longer afford your house note? Have you already missed one or more payments and the mortgage company is stressing you out with harassing phone calls and letters? Do you … Continue reading
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A ‘short sale’ occurs anytime the net proceeds from a sale of a home are less than the amount needed to pay out the mortgage and any other liens that might be against a property. What You Need to Know … Continue reading
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The following is a reprint courtesy of HUD.Cov, US Dept of Housing and Urban Development The Section 203(k) loan program is HUD’s primary program for the rehabilitation and repair of single family properties. As such, it is an important tool … Continue reading
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Have you had a bankruptcy in the past? Had debts that went to ‘Collection” and were written off? Do you think because bill collectors don’t call anymore, it’s all forgotten? Wrong!! Not only is it not ‘forgotten’, you have to … Continue reading
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