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Top rated discussions in Property

alex started a question in Property on May 5th 2011

'Home Alone' house in Winnetka on sale for $2.4M House from 'Home Alone' is for sale in Winnetka for $2.4 million

The house from Home Alone, a 1990 film is a comedy about an eight year-old, who is accidentally left behind while his family flies to France for Christmas, and is forced to defend his home against burglars. Read more

Tadas started a question in Property on Oct 25th 2011

Donald Trump sells his Californian mansion for $7.15m Donald Trump sells his Californian mansion for $7.15m

Simon started a question in Property on Jul 18th 2011

A $330,000 home for $16? 'This is not a normal process' A $16 Price Tag for a $330,000 Home

A man in Texas uses the law to take possession over a foreclosed home. How did he do it? Simply walking into the house (claims he found the key) and declaring it as yours. Read more

Avelloe started a question in Property on Oct 28th 2011

President Obama's mortgage plan from an Independent mortgage professional's point of view

There seems to be so much political ranting from the left and from the right these days it seems that "truth" gets lost in the arguements. I am not a Democrat or a Republican but a card carrying conservative Independent. That being said we as Americans need to quit taking what opinions talking heads on cable TV give to us and start doing our own research. In this particular instance I agree with Obama and his administration. The facts are that these loans that would be available for rate reduction are already on the books of FNMA and FHLMC (thus the taxpayers) and are current. Allowing them to refinance to today's rates without an appraisal is the right thing to do. This helps the borrowers out there who have done the RIGHT thing in this housing mess and would pump billions of additional disposable income into the economy. Also note that GNMA (FHA and VA loans) have had a similar program in place for decades, it is called a streamline. Taking that knowledge into account with the fact that banks and bankers WOULD NOT be required to hold on to the loans (they would just revert back to FNMA and FHLMC at lower monthly payments)and knowing how successful similar programs are and have been for a long time I can't for the life of me figure out why those who truly want to protect the taxpayer's investments and spur the economy on would be against such a program... Unless it's for purely political purposes. Read more

Marina started a question in Property on Jul 25th 2011

Ally Always has Awesome Infographs

Okay, I am a totally nerd but I love following Ally Bank's infographics. This latest one is about home improvement, according to their survey, 71% of Americans are planning a home improvement project this year. Read more

Marina started a question in Property on Apr 18th 2011

World's Most Expensive Apartment Sold To Mystery Buyer For $221 Million $221 Million Apartment Sold to Mystery Buyer

I can't imagine that this Ukrainian "Mystery Buyer" will stay a mystery quite longer considering the entire world knows her (or his) address. I can't wait for the house warming party. Read more

markr started a question in Property on May 13th 2011

Severn Savings Bank Is Offering Home Buyers Free Cash

Anyone that closes on a home loan at Severn Savings Bank in Maryland will receive $600 cash back at closing. Read more

Lucracy started a question in Property on Apr 6th 2011

Is there a "right" time to buy a house?

I feel like the economy is on the upswing and real estate is getting big again. Is now a good time to buy a house? Or is there any good or bad time to buy into real estate? I don't want to pass up a good opportunity at a good time. Read more

alex started a question in Property on Jul 25th 2011

Why Isn't My House Selling and How to Finally Get Your House Sold How to Finally Get Your House Sold

I found this article to be really interesting and helpful in understanding why you may have trouble selling your house and things you could do to sell it. Read more

alex started a question in Property on Jul 15th 2011

Allstate hikes Illinois home insurance rates as much as 9%	                                             | Finance |  Crain's Chicago Business Allstate increases home insurance rates by 9% in Illinois

If your currently have home insurance through Allstate and live in the state of Illinois, you may want to be sure you weren't one of the few who received a rate hike of as much as 9%. Read more

Marina started a question in Property on Jul 26th 2011

America's Best Cities For Young Professionals Best Cities for Young Professionals: NY and LA Don't Make the Cut

At first I was surprised about these finding but as I read on it makes sense. I have a lot of friends in smaller towns who were able to start at a higher salary. Intuitively, that doesn't make sense but according to this forbes article it does. Read more

DeniseGabbard started a question in Property on Jul 24th 2011

how-to-tell-housing-market-hit-bottom-wsj: Personal Finance News from Yahoo! Finance Has your housing market hit bottom?

With the large dips in housing prices, it is tempting to jump in and buy. But, should you do it now, or wait a while longer? Real estate agents will tell you that the markets have hit bottom and prices are increasing-- it is their job to sell houses, after all. Read more

Zachary started a question in Property on Jul 11th 2011

Check out #MortgageMondays on Twitter for Q&A and Tips

Today and every Monday in July, TD Bank is utilizing social media to educate consumers on its mortgage program by launching live weekly Twitterviews (Q&A). Read more

Simon started a question in Property on Apr 8th 2011

Groupon Gets Into Real Estate Deals - The Consumerist Groupon: Coupons For Your New Home Purchase

From coupons at local restaurants and stores to luxurious stays at expensive hotels, Groupon is extending its model into diverse markets. The next may be real estate... Read more

DeniseGabbard started a question in Property on May 20th 2011

Zillow - Real Estate, Homes for Sale, Home Prices & Values Buying a House? Be sure you know what it's worth in today's market.

If you are in the market for a house, it is important that you know what the current market value is of the homes that you are interested in. Sellers and real estate agents will often set the initial asking price higher, anticipating the negotiation to come. Of course, if the buyer doesn't have a clue as to what he should be paying, there won't be much negotiating! Read more

jason started a question in Property on Jul 25th 2011

A Tried and True Formula for Buying Rental Property

Some good lessons in this article about issues you'll probably run in to. Read more

Avelloe started a question in Property on Oct 12th 2011

Be Smart - Go Small

Being the owner of a small mortgage company and beating up on the large banks consistantly I would like to know why anyone in their right mind continues to go to the large banks for their financial needs... Read more

bstern started a question in Property on May 7th 2011

Rent or Buy in a Metropolitan City

For the past few years I have lived in big cities. Growing up in the subs, I don't see myself leaving the city. Should I consider buying or is renting the way to go? Read more

Rodney started a question in Property on Mar 25th 2011

One More Worry About Reverse Mortgages A Red Flag on Reverse Mortgages

AmyAmy started a question in Property on May 10th 2011

Government FHA 203(k) Construction Rehab Loans

FHA loans are becoming America's most common loan for your primary residence but have you heard of the FHA Construction Loan? It may be the answer to finally getting the kitchen of your dreams or buying your first home that's a fixer-upper or most frequently the only way to buy a Foreclosed Property! FHA will allow you to borrow additional money within your loan to repair and replace your roof, HVAC system, remodel your kitchen, bathrooms, basements, porches, windows, septic systems or simply to paint or buy appliances. The possibilities are endless and best of all you don't have to spend your hard earned savings on fixing the house, especially in a declining market! If you had the option to either spend $35,000 on strictly repairs or finance the same $35,000 for less than $225. per month over the course of 30 years, which is more affordable?
This FHA loan makes purchasing a home that "needs work" attainable. When buying a house usually funds are limited, you've accounted for your down payment and you've accounted for the closing cost but did you really ever account for the money you will need to make the home "yours?"
When purchasing a bank owned property or an REO, most REO Lenders require the buyer is qualified for a FHA 203K Rehab Loan. Why you ask? Well the reason is twofold, first and foremost the greater majority of Foreclosures need some type of repair. A standard bank appraisal will not allow for repairs, meaning the lender does not want to lend hundreds of thousands of dollars on a home that needs work. So the FHA 203(K) loan ensures that the buyer can make the necessary repairs. Secondly this loan also ensures that the buyer is purchasing the foreclosure as a primary residence.
REO Lenders want to see that home they are selling is a primary residence and not an investment property. Investment properties carry more risk and the risk in this day and age is that the house will be in a mortgage foreclosure once again. There is Read more

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