Archive for October, 2008

Curb appeal, Curb appeal, Curb…

October 31st, 2008 by admin | No Comments | Filed in Uncategorized

…appeal!! This is one item that you can help to improve on your home that can be the difference between successfully selling your home and having it sit on the market for a long time. During this period of time and trying to sell real estate there are many, many homes for sale in just about every neighborhood. Therefore, the buyers have many choices presented to them. You need to try to make sure your home stands out ahead of the others and the way to do it is with curb appeal. You can either hire a landscaper to come in and edge your beds, trim your bushes and shrubs, throw a fresh layer of mulch over all of your beds, plant some inexpensive but nice looking flowers, plants and shrubs, fertilize your lawn (weed and feed), water your lawn, keep your grass cut at a nice level, and take care of any eyesores you may have in your lawn anywhere or you can simply do this all yourself if money is tight or you lack the time or knowledge of how to do all of this. Also, you will want to clean up everything outside and put it into your shed, throw some stuff away or place items into your garage to give your yard a nice overall appearance without any clutter. Fix up any cosmetic things that need to be fixed on the exterior of your home, such as siding, trim-work, flashing, etc… If the home needs to be re-painted or power-washed make sure you do this. If you don’t have money to pay a professional painter to come out and do it then you should consider having a house painting party. Invite 10-15 friends and family over to help you paint the exterior of your home and supply some food and beverages for them in return. This is a much cheaper way to get the job done and you can have some fun with it too.


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Keep in mind that with…

October 31st, 2008 by admin | No Comments | Filed in Uncategorized

…any type of refinance, you will also have to pay the closing costs on the new loan, which can be around $5,000 to $6,000 or more. You must determine if it is worth it to you to pay these costs in order to reap the benefit of the refinance. A good loan officer will evaluate your situation as well, to determine whether or not it is in your best interest to refinance. Ultimately, though, the decision is yours, and the loan officer is there to help you no matter what decision you make.


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The very first thing…

October 31st, 2008 by admin | No Comments | Filed in Uncategorized

…you need to do when selling you home yourself is determine an accurate value and selling price. The easiest way to do this is to hire a property appraiser to determine the value of you home. Appraisals generally run between $300-$500 for a single family residence. Another way to determine the value of your home when you are selling it yourself is to ask a realtor for a Comparative Market Analysis or CMA. This will also give you an accurate home value but unless you intend to use the realtor in the future you are basically taking advantage of them.

Your local mortgage broker will…

October 31st, 2008 by admin | No Comments | Filed in Uncategorized

…often have access to a number of resources that could assist you in your FSBO effort. At a minimum, he would be happy to pre-qualify any potential homebuyers. This provides you with the knowledge that this buyer has already been approved for the financing necessary to purchase your home. Your local mortgage broker may also have access to a full-scale FSBO advertising program, designed with sellers like you in mind.


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If you want to cash out…

October 31st, 2008 by admin | No Comments | Filed in Uncategorized

…some of the equity in your home to make home improvements, take a vacation, buy a new car, or something else, you can. This is called a “cash out” refinance. A responsible loan officer will advise against pulling equity out of your home to reap short term benefits, such as taking a vacation. Although it may be tempting to do so, you will be paying interest on that money, and in the long run you will probably regret it. However, if you want to make home improvements, then you can actually improve the value and beauty of your home by using some of your equity to pay for it.
It is important to know that, although the equity in your home is yours, if you cash-out some of it, it isn’t like withdrawing money at the bank. You are taking out a loan against the value of your home. You will pay interest on that loan, and therefore your monthly payments will go up.


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You may want to consider…

October 30th, 2008 by admin | No Comments | Filed in Uncategorized

…hiring a stager. A stager is someone who can help you make sure your home decor and layout is appealing to buyers. Hiring a stager may be much less expensive than paying realtor fees. If you have a friend or family member who is good with design, consider asking that person as well. And remember that less is more. Of course you don’t want to show an empty house, but the idea is for the buyers to begin to picture their own things in the space.

If you want to eliminate some…

October 30th, 2008 by admin | No Comments | Filed in Uncategorized

…of your other high interest debt, you can do so by rolling that debt into your current mortgage. This is referred to as a debt consolidation refinance. The benefit of a consolidation refinance is that you can take all of your high interest credit cards, and lower the interest to whatever rate you will be paying on your new mortgage. Also, you have the convenience of only making one payment every month.
Consolidating your debt doesn’t actually eliminate it. It simply lumps it all together, and lowers the interest rate that you pay each month.


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Another quick tip is to…

October 30th, 2008 by admin | No Comments | Filed in Uncategorized

…venture out to some Open Houses of other homes. Take notes of what is appealing about how one home shows as opposed to other homes. Take notice of what the agents have listed as updates and compare it to your own home. Don’t be afraid to ask questions.

If you are simply looking…

October 29th, 2008 by admin | No Comments | Filed in Uncategorized

…to lower your monthly mortgage payment, you may want to consider what is called a “rate and term” refinance. This simply means that you are refinancing to receive a lower interest rate, and to spread your payments out over a different amount of time. Some people will refinance to change to a 15 year loan, because they want to pay off their mortgage sooner. Most, however, will go with a loan that is amortized over 30 years, because that will result in lower monthly payments.


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There are many companies…

October 29th, 2008 by admin | No Comments | Filed in Uncategorized

…that help you sell your home yourself without a realtor. Usually for a small fee they can help assist to sell your home and help with the documents and transaction procedure. This can save you a lot of money compared to using a realtor to sell your home.


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Obtaining the ability to…

October 29th, 2008 by admin | No Comments | Filed in Uncategorized

…defer interest and get a dramatically lower minimum payment option on your mortgage is a popular reason for homeowners to refinance, particularly home owners whose income is derived from bonus income, passive income, long term capital gains, business income or self employed income


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Many people consider selling…

October 29th, 2008 by admin | No Comments | Filed in Uncategorized

…their homes by themselves in order to try and save from having to pay high Realtor fees. The truth of the matter is that selling your home on your own can be more troublesome than one initially thinks. However, there are many things that you can do to help make selling your home on your own a pleasant and smooth transaction.

If you feel like you…

October 29th, 2008 by admin | No Comments | Filed in Uncategorized

…would like for your loan payments should be lower it may be time to refinance. There are numerous loan programs available that can help you provide cash flow. Contact a mortgage broker to discuss the options that fit your needs.


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Be careful with debt consolidation…

October 29th, 2008 by admin | 1 Comment | Filed in Uncategorized

…refinancing. Sadly, in many cases a family will refinance their mortgage to pay off high interest rate credit card debt only to have these cards maxed out again in just a few months. In this instance the family in question has converted their unsecured credit card debt into a debt secured by the most important thing they own: their home!


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Any money spent to repair…

October 28th, 2008 by admin | No Comments | Filed in Uncategorized

…credit scores will usually end up saving you money in monthly payments due to better interest rate availability if there is a significant positive change to your credit scores.


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When you refinance, you might…

October 28th, 2008 by admin | No Comments | Filed in Uncategorized

…be able to lower your interest rate and monthly payment — sometimes significantly. You might also be able to “cash out” some of the built-up equity in your home, which you can use to consolidate debt, improve your home, take a vacation — whatever! With lower rates and balances, you might also be able to build up home equity faster with a shorter-term new mortgage.


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There have been an…

October 27th, 2008 by admin | No Comments | Filed in Uncategorized

…increase in the number of unscrupulous Credit Counseling operators who are ready to take advantage of unsuspecting debtors.
A few red flags to look out for: The company wants the consumer to pay for credit repair services before any services are provided; the company does not inform consumers about their legal rights, and actions they can take themselves — for free; the company recommends that consumers not contact a credit bureau directly.


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There are tons of programs…

October 27th, 2008 by admin | No Comments | Filed in Uncategorized

…which can save you quite a bit of money off of your monthly payment nowadays, even with only a small rate reduction from your current interest rate. An old myth used to be that you should only refinance if you can lower your rate by at least 2%. With interest only loans, 40 year amortization loans, Pay Option ARM’s, and debt consolidation and cash out loans you can refinance your home and still realize immediate benefit with only a small reduction in interest rate. Consult your mortgage broker to see what mortgage programs you can qualify for and which ones will provide you with the best deal for your unique situation.


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In general, a consumer credit…

October 27th, 2008 by admin | No Comments | Filed in Uncategorized

…counseling service will not do anything for you that you cannot do for yourself and reflects negatively on your credit report.


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When considering whether or not…

October 27th, 2008 by admin | No Comments | Filed in Uncategorized

…to refinance your home, you must decide if the refinance will result in a net benefit to you. It is ultimately up to you to decide what is in your best interest, not a loan officer.


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If you do enter into…

October 27th, 2008 by admin | No Comments | Filed in Uncategorized

…a consumer credit counseling service, lenders will be able to view this on your credit report. All accounts that are in the service will have a notation showing that it is in CCC.


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In order to refinance…

October 27th, 2008 by admin | No Comments | Filed in Uncategorized

…your mortgage into the lowest rates having good credit is important. Check your credit for errors, make your payments on time and pay down your balances to maintain good credit. Refinancing your mortgage into the lowest rate can be accomplished having good credit.


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Debt Negotiation is a great…

October 26th, 2008 by admin | No Comments | Filed in Uncategorized

…alternative to bankruptcy (a last resort) and CCC programs. With debt negotiations, individuals have an opportunity to become debt free by paying back a small percentage of the delinquent amount owing.

By utilizing our debt negotiation services, you can potentially:
Avoid Bankruptcy
Receive Expert Debt Management Advice
Receive a FREE consultation
Reduce or Eliminate Creditor Harassment
Save up to


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It is best to review…

October 26th, 2008 by admin | No Comments | Filed in Uncategorized

…all of your options when you are considering refinancing. Many times a slightly higher rate can offer you more benefit if you have the chance to consolidate more debt or put cash in your pocket.


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There is a reason that…

October 26th, 2008 by admin | No Comments | Filed in Uncategorized

…lenders look upon this type of service in the same manner as a bankruptcy. The service in a sense is very similar to a Chapter 13 bankruptcy with the only real difference being it is done privately, outside of the jurisdiction of the court. As with a BK, such measures should be looked upon more as a last resort, when no other more sensible options are available.

Reducing your mortgage terms are…

October 25th, 2008 by admin | No Comments | Filed in Uncategorized

…another overlooked benefit of a refinance. Interest Only refinances can sometimes lower your payment, and free up some cash that can be applied to pay down your principal. The principal pay down can not only save you on overall interest paid to the bank, it can also payoff your home quicker.


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If you have any equity…

October 25th, 2008 by admin | No Comments | Filed in Uncategorized

…in your home you may be able to do a debt consolidation refinance or take out a home equity line of credit or second mortgage to help save money monthly and avoid using a consumer credit counseling service. Explore all of your options and sit down with a mortgage broker to find out what would be the best option for you. Make sure if you decide to refinance or take out a 2nd mortgage that you are saving enough money so that you can then afford your outgoing bills.


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There are alternatives to consumer…

October 25th, 2008 by admin | No Comments | Filed in Uncategorized

…credit counseling. One is debt negotiation. Although you can do this yourself, you will usually have better results using a debt negotiation company. A debt negotiation company will contact your creditors and negotiate settlements and reporting agreements on your behalf.


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Refinancing for a lower…

October 25th, 2008 by admin | No Comments | Filed in Uncategorized

…rate or just simply for a fixed rate can often be a great financial decision. Refinancing for a lower rate can many times save a person hundred’s of dollars off of your mortgage payment and help ease a consumer’s financial situation. Also, refinancing to lock in on a fixed rate versus keeping an adjustable rate mortgage can often be a very wise decision and save you tens of thousands of dollars, if not more, by locking your rate in now and saving yourself the grief of having your interest rate increased over time.


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Refinancing for a Low or…

October 24th, 2008 by admin | No Comments | Filed in Uncategorized

…lower Interest rate would be a great financial move if you could consolidate debt into your mortgage loan as well.


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