One of the ways to make money in real estate is to move property as quickly as possible. Jumping from one home to another often leads to a double closing situation.
How to Save Your Home from Foreclosure
Nef Cortez is a licensed Real Estate Broker, Real Estate author of the Weekly News in Walnut, California, and 29 year veteran in Real Estate sales. A past director for the California Association of Realtors, and currently Vice-Chairman of the Diamond Bar Chamber of Commerce. Nef has a varied degree of experience in mortgage origination, real estate investments, and acquisition of foreclosure properties. Please visit www.nefcortez.com for info
FSBOs The Secret of After Settlement Escrow to Solve Problems
Most FSBOs (people who are selling their own homes) are aware of the conventional use of escrow. In this article, we look at ways to use escrow to solve problems.
Closing Costs When Purchasing A Home
Buying a home is a financial strain if you are making a sizeable down payment. This can lead to problems if you forget the hard, cold cash you will need for closing.
Coinciding Settlements Clauses – Funding Issues
People who are selling their home in order to buy another frequently put a “coinciding settlements” clause into their contract offer on the new home. The purpose of this is usually twofold. In this article, we discuss the first purpose which is to use funds from the old home to pay for the new one.
Coinciding Settlements Clauses – Moving Issues
People who are selling their home in order to buy another frequently put a “coinciding settlements” clause into their contract offer on the new home. One reason for doing this is so they can move from one home to the other at the same time.
Budget for Closing Costs Loan Origination Fees and PMI
Once you reach an agreement on the purchase of a home, things start moving quickly. In the chaos, it is important to remember to budget for closing costs.
Budget for Closing Costs Property Taxes, Legal Fees and Such
You probably spent a good bit of time getting disciplined to save money for your home purchase. You need to carry this financial discipline through the escrow period or you could run into problems.
Home Loans Understanding The Basics
When you decide to get a home loan, there are a number of costs that are involved. If you are fortunate, the seller of the home may agree to cover some of the expenses for you. Some of the expenses you will see when getting a home loan is the closing costs, prepaid items, and loan discount fees.
Understanding Escrow
When we talk about escrow as it relates to mortgages and real estate we are actually talking about two different topics that concern home buyers: the closing of the sale on a house (referred to as escrow) and the mortgage escrow account (a fund set aside for on-going expenses while the lender holds the note on your house). Let’s take a brief look at both of these concepts so you can be better prepared when you decide to buy your first home and take on a mortgage.
Who Is Responsible For Closing Costs
Buying or selling a home is a euphoric experience for both of the parties involved. This euphoria can cool when you learn which party is responsible for the closing costs.
Lenders Do Not Really Trust You
Whether you are selling or buying a home, you should always go through an escrow period. Part of the process involves the establishment of a lender account since they do not trust you.