There are good and bad things that come with the deed in lieu of foreclosure. If you are unable to make the monthly mortgage payments on your home anymore you might consider this as your option. There are pros and cons to this which might help you make your decision.
Pros / Positives
The biggest positive of [...]
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Are you about to lose your home, go through foreclosure, and destroy your credit? If so you’re not alone. Countless families across the country today are dealing with the very same problem today.
Consider one family’s story – the LaVan family. They had a beautiful two story home in a great neighborhood and things were going [...]
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There are new federal regulations on mortgage lenders coming out way soon. Recently, President Bush signed a bill into law at the end of July that encourages state regulatory commissions to register all residential loan originators, and creates a national database of lenders that tracks fraudulent activity from state to state. This will [...]
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People building a custom home, whether acting as an owner builder or hiring a licensed general contractor, often have to be reminded of one simple, vital point: look at the big picture.
Owner builders, especially, have a chance to save tens of thousands of dollars being their own general contractor and managing the construction project themselves. [...]
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Many homeowners these days are going through the mortgage foreclosure process. Most of them usually end up filing for bankruptcy in an attempt to save their properties from being auctioned off. The bankruptcy option is actually the process least understood by a lot of homeowners. It is also the least popular at that. However, this [...]
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After owner builders work their way through the maze of owner builder construction loan qualifying, it will be time to close on the loan. This is essentially where you sit down and sign a huge stack of documents that you will never read, or understand if you try.
Basically, this is where the owner builder loan [...]
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With house prices falling all over the country, maybe now would be a good time to make a move onto the property ladder. In reality, the credit crunch has priced some first time buyers out of the market, unable to secure a mortgage or afford the high rates that are being offered. Yet, if funds [...]
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Owner Builder construction is a great way to build instant equity into your new home by eliminating the costs of a general contractor. In fact, cutting the overhead of a licensed general contractor can save an owner builder anywhere from ten to thirty percent on construction costs. That’s tens of thousands of dollars in instant [...]
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Reverse mortgages are becoming more readily available and popular as a financing option for seniors, but how does a reverse mortgage work? These mortgages are generally used by seniors who have accumulated a substantial amount of equity in their home. Lenders require the borrower to be at least 62 years of age. Reverse mortgages are [...]
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