Recent Questions / Latest mortgage and renting questions

What is transfer value?

Transfer value refers to a property’s purchase price the last time it was sold. It’s a term often used in foreclosed properties or those in pre-foreclosure. For foreclosed properties owned ...
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Buying a short sale home

Purchasing a short sale home isn’t the same as buying a foreclosed property, since the owner is actually selling the home to avoid foreclosure. It takes longer than a conventional ...
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What to do if my mortgage application was denied?

While a denial of your mortgage application is disappointing, it’s not the end of the world. Find out why the application was denied and fix those issues. The lender must ...
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First-Time Home Buyer / Information that first-time home buyers need to know

3 ways to buy a house with bad credit

Back before the housing crash of 2008, people with bad credit could easily get a mortgage. The problem was that many people were buying overpriced homes that they really couldn't ...
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Can I skip a mortgage payment?

Your lender may make you an offer allowing you to skip a mortgage payment. Just like deferring a car loan payment, you aren’t really saving any money. You’ll pay additional ...
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Overview of closing costs

There are many types of costs associated with buying a house. These costs are called closing costs, and they usually represent 2 percent of the price of the house, although ...
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Buying Process / Process of buying a house and mortgage terms

Buying a home after bankruptcy

The desired result from a bankruptcy proceeding is to have all or at least some of your personal debt forgiven which is formally known as discharged. Chapter 7 allows discharge ...
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What is the purpose of a home inspection?

The basic purpose of a home inspection is determining the property’s condition. It’s a likely requirement in your real estate contract, and if it’s not there, insist on it. Even ...
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Photo - Two people talking about private mortgage insurance

What is Private Mortgage Insurance (PMI)?

©Jacob Lund/Fotolia Private mortgage insurance, also called PMI, is a type of insurance that private lenders require you to pay. You can avoid paying PMI by making a down payment ...
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Selling / Related to selling your home

How much would I have to pay in taxes if I sell my home for a profit?

If you’ve lived in the house as your primary residence for at least two of the past five years, you won’t owe taxes on the sale. The federal government allows ...
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Photo - Woman thinking about selling her home

Should I be worried if I have not sold my home in a year?

© pauchi/Fotolia The short answer is “yes.” If the market is exceptionally slow, it can take as much as a year for houses to sell, but in a normal market ...
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Buying a short sale home

Purchasing a short sale home isn’t the same as buying a foreclosed property, since the owner is actually selling the home to avoid foreclosure. It takes longer than a conventional ...
Read More
Renting / Roommates, managing rentals, and understand rental terms

How can I pull my rental history?

Your rental history contains the past rental experiences in which your name was on the lease, and can make a difference in whether a landlord accepts you as a tenant ...
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How to handle tenants who pay rent late?

If your tenant does not pay the rent on time, there’s a legal process you must follow. This process varies from state to state. Do not allow the rent to ...
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How can I kick-out my roommate?

Tenant law varies from state to state and city to city. Assuming your roommate is not on the lease, your best option is simply to ask him to leave. If ...
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Refinancing / Related to refinancing a mortgage

What are the top 3 things I need to consider before refinancing?

All important issues concerning refinancing revolve around whether it makes financial sense. The number one issue involves addressing any fees or penalties you have to pay when refinancing. Crunch the ...
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What is a piggyback mortgage?

A piggyback mortgage refers to a second mortgage taken out on a property at the same time as a primary mortgage or refinancing. Generally, the primary mortgage makes up 80 ...
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How can I refinance my home?

When you refinance, you want to trade in your current mortgage for a cheaper one. The first thing to do is make sure you qualify for refinancing. You should also ...
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Should I get a fixed rate or adjustable rate?

When you get a mortgage loan, you generally can choose between getting a fixed rate or an adjustable rate. Your interest rate with a fixed rate stays the same for ...
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Photo of boyfriend and girlfriend sitting on sofa carefree.

5 Reasons Why Renting is Good

© bernardbodo/Fotolia People in America have long held the idea that renting is something you do only until you can afford to buy a house. But, it's not that cut ...
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Is first and last months’ rent too much for a deposit to move into a house?

Most landlords charge first month’s rent and a security deposit. Some landlords add last month’s rent as well. First month’s rent covers the first month the tenant will live in ...
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