When a homeowner stops making regular mortgage payments, the bank can foreclose on the property. This means that the bank takes possession of the property in an attempt to recover the debt the homeowner owes. In some cases, the bank may try to recover this debt by selling the property at auction. In other cases, the bank will simply list the foreclosed home for sale.
Last week’s economic reports included readings on Case-Shiller home prices, pending home sales and construction spending. Weekly readings on mortgage rates and new jobless claims were released, along with monthly labor-related reports on job creation and the national unemployment rate.
Borrowers who cannot qualify for a conventional mortgage are often able to obtain an FHA loan. However, to secure this type of loan, you must still meet certain requirements.
When you are filling out a mortgage application, the lender will be asking you for specific financial information. One of the reasons they ask for this information is to enable the underwriter to calculate your debt to income ratio.
Multi-generational households and the growing preference on the part of many retirees toward “aging in place” have altered home design in recent years. Interiors are more open, more functional and more adaptable that they were even a decade ago.
Last week’s economic reports included readings on sales of new and previously-owned homes along with weekly readings on mortgage rates and new jobless claims.
Is it worth it to add smart appliances or automated features if you’re selling a home? Just how much connectivity do buyers want? And what exactly do the terms refer to in terms of home updates.
When buying a home, there are certain steps a buyer should go through before the home sale is official. First the buyer makes the offer, then the offer is accepted.
When you are a homeowner looking to reduce your carbon footprint, there are a number of steps you can take to make your home earth-friendly. From passive solar heating to solar panels, you can make a difference in the impact your home has on the environment.
If your financial situation is limited, yet you’re handy with a hammer and nails, then purchasing a fixer-upper home can be an attractive option. Fixer-uppers typically require a bevy of updates and repairs to bring the home up to current market conditions. Because of this, the listing price is often considerably less than a move-in ready home. Your trusted real estate professional can help you find the best projects to buy and sell.
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