Creative financing can be an attractive option for sellers, especially those with significant equity. One popular approach is carrying back a second mortgage, where the seller effectively becomes a lender to help the buyer complete the purchase. While this can be a beneficial arrangement, it’s essential to understand the risks and the protections available, particularly regarding lender’s title insurance. Why Consider Carrying Back a Second Mortgage? Let’s say you own a home … [Read more...]
Insufficient Property Appraisal: What to Do When the Appraisal Falls Short
When buying or selling a property, one crucial step in the process is obtaining an appraisal to determine its value. Appraisals provide an objective assessment of a property's worth, influencing important decisions such as mortgage approvals, negotiations, and even insurance premiums. However, there are instances when the appraisal falls short, causing challenges and uncertainties for both buyers and sellers. In this blog post, we will explore what to do when faced with an insufficient property … [Read more...]
Help Available To Struggling Homeowners Set To End In 2016
Many homeowners are struggling to keep up with their mortgage payments on a monthly basis, and it can often seem like there are limited options for remedying the situation. If you haven't heard of HARP refinancing and you're a homeowner who's looking for a lower interest rate, this may be the right solution to your payment woes. Instead of letting the opportunity blow by, here's all you need to know before this option ends in 2016. The Details On HARP Refinancing Known as HARP, the Home … [Read more...]
